Search

These kids make £12m profit’ for BP on global oil market

PUBLISHED: 18:32 08 July 2009 | UPDATED: 14:32 05 October 2010

photo

photo

SCHOOLKIDS from London’s East End have made a cool £12m profit buying and selling oil on the world market. Or so they wish! The 14-year-olds have been acting as oil traders’ testing a new trading’ game

SCHOOLKIDS from London’s East End have made a cool £12 million profit buying and selling oil on the world market.

Or so they wish! The 14-year-olds have been acting as oil traders’ testing a new trading’ game being distributed to schools in September.

The pupils from Bethnal Green’s Oaklands Secondary visited the offices of BP’s Supply & Trading division at Canary Wharf—where real life oil buying and selling is carried out.

COMMODITIES

The new Enterprise Trading Game which BP releases to schools for the new term simulates live commodity dealing.

The Year-9 whiz-kiddies worked in company’ teams deciding whether to trade oil, depending on price and market conditions, with news bulletins throughout the game giving fresh information to base their decisions on.

Judgement calls were made against threatened tanker strikes, pipeline sabotage, a civil war in Africa, extra oil being pumped by Middle Eastern oil rivals and the US vacation season.

The winning team, Lina, Sabina, Iftekhar and Majed (pictured with BP executive Brian Gilvary and their trading’ board), ended with a profit’ of £12.4m. No-one made a loss.


If you value what this story gives you, please consider supporting the East London Advertiser. Click the link in the orange box below for details.

Become a supporter

This newspaper has been a central part of community life for many years, through good times and bad, serving as your advocate and trusted source of local information. Our industry is facing testing times, which is why I’m asking for your support. Every single contribution will help us continue to produce award-winning local journalism that makes a measurable difference to our community.

Thank you.

Most Read

Most Read

Latest from the East London Advertiser