Log in
Register
Search
Search titles only
By:
Search titles only
By:
Log in
Register
Search
Search titles only
By:
Search titles only
By:
More options
Toggle width
Share this page
Share this page
Share
Facebook
Twitter
Reddit
Pinterest
Tumblr
WhatsApp
Email
Share
Link
Menu
Install the app
Install
Forums
Law Firm Events
Law Firm Deadlines
TCLA TV
Members
Leaderboards
Premium Database
Premium Chat
Commercial Awareness
Future Trainee Advice
Forums
Aspiring Lawyers - Applications & General Advice
My Training Contract Journey
My Daily Commitment
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="al97" data-source="post: 149088" data-attributes="member: 29424"><p>13 Sep - Commercial Awareness - Energy sector </p><p>FT link: <a href="https://www.ft.com/content/e4f1ef39-42aa-428e-a358-a0f1431213e2" target="_blank">https://www.ft.com/content/e4f1ef39-42aa-428e-a358-a0f1431213e2</a></p><p>Topic: BP’s CEO resigned </p><p></p><p>BP’s CEO, Looney, suddenly resigned following his failure to disclose a personal relationship with a colleague, which caused the company’s share price to fall when the news was announced. His contribution to Net Zero is significant, in that BP’s investments in renewables are further than US ExxonMobil and Chevron and UK Shell. There hasn’t been confirmation on a candidate, but the CFO stepped in as an interim. Hence, investors questioned whether the next candidate would take the same approach to renewables as Looney did. </p><p></p><p>Brief Background about BP</p><p>Market Capitalisation of $111 billion (as of Sep 2023)</p><p>Oil prices moving above $90 a barrel (as of Sep 2023)</p><p>The rise in oil prices is caused by the Russian invasion of Ukraine which reduces the supply. </p><p>BP wrote off 20% stake in Rosneft, the Russian state-backed oil company, but they technically still owned it. The sale is complicated by the need to seek approval from the Kremlin, so the dividends were put away in an escrow account. </p><p></p><p>Interview Question:</p><p></p><p>Who are the biggest players in the energy sector?</p><p></p><p>London-based BP, US ExxonMobil and Chevron, and UK-based Shell.</p><p></p><p>What is an escrow account?</p><p></p><p>A third-party account that held funds on behalf of two parties for a certain period, pending for a certain outcome to be achieved/fulfilled. </p><p>In the context of M&A, when there’s a potential dispute with the Target company, the Buyer may request for an indemnity clause to be inserted so they can be indemnified for the costs flowing from the litigation. But since the amount can be unlimited, the Seller can impose a limit by setting an escrow account where they deposit a certain amount of funds, at the Buyer’s disposal shall litigation arise. </p><p></p><p>What is dividends?</p><p></p><p>Profit on shares paid to shareholders. In this context, BP has 20% stake in Rosneft, which means it own 20% of Rosneft, therefore a shareholder who receives the profits when the company is performing well. As they’re in the middle of completing a transaction, any dividends earned are deposited into the escrow account. </p><p></p><p>Who is the Kremlin?</p><p></p><p>The Kremlin is the residence of Putin, the equivalent of what the White House is to Biden.</p></blockquote><p></p>
[QUOTE="al97, post: 149088, member: 29424"] 13 Sep - Commercial Awareness - Energy sector FT link: [URL]https://www.ft.com/content/e4f1ef39-42aa-428e-a358-a0f1431213e2[/URL] Topic: BP’s CEO resigned BP’s CEO, Looney, suddenly resigned following his failure to disclose a personal relationship with a colleague, which caused the company’s share price to fall when the news was announced. His contribution to Net Zero is significant, in that BP’s investments in renewables are further than US ExxonMobil and Chevron and UK Shell. There hasn’t been confirmation on a candidate, but the CFO stepped in as an interim. Hence, investors questioned whether the next candidate would take the same approach to renewables as Looney did. Brief Background about BP Market Capitalisation of $111 billion (as of Sep 2023) Oil prices moving above $90 a barrel (as of Sep 2023) The rise in oil prices is caused by the Russian invasion of Ukraine which reduces the supply. BP wrote off 20% stake in Rosneft, the Russian state-backed oil company, but they technically still owned it. The sale is complicated by the need to seek approval from the Kremlin, so the dividends were put away in an escrow account. Interview Question: Who are the biggest players in the energy sector? London-based BP, US ExxonMobil and Chevron, and UK-based Shell. What is an escrow account? A third-party account that held funds on behalf of two parties for a certain period, pending for a certain outcome to be achieved/fulfilled. In the context of M&A, when there’s a potential dispute with the Target company, the Buyer may request for an indemnity clause to be inserted so they can be indemnified for the costs flowing from the litigation. But since the amount can be unlimited, the Seller can impose a limit by setting an escrow account where they deposit a certain amount of funds, at the Buyer’s disposal shall litigation arise. What is dividends? Profit on shares paid to shareholders. In this context, BP has 20% stake in Rosneft, which means it own 20% of Rosneft, therefore a shareholder who receives the profits when the company is performing well. As they’re in the middle of completing a transaction, any dividends earned are deposited into the escrow account. Who is the Kremlin? The Kremlin is the residence of Putin, the equivalent of what the White House is to Biden. [/QUOTE]
Insert quotes…
Verification
Our company is called, "The Corporate ___ Academy". What is the missing word here?
Post reply
Forums
Aspiring Lawyers - Applications & General Advice
My Training Contract Journey
My Daily Commitment
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…