Hazza al Boushelaibi, 13, debates with his team members during the workshop yesterday.
Hazza al Boushelaibi, 13, debates with his team members during the workshop yesterday.
Hazza al Boushelaibi, 13, debates with his team members during the workshop yesterday.
Hazza al Boushelaibi, 13, debates with his team members during the workshop yesterday.

How to be an oil tycoon … at 14


  • English
  • Arabic

ABU DHABI // The traders screamed "Buy!" and "Sell!" across the room as the tense minutes ticked away. By the end of just two hours, one triumphant company had turned its initial Dh18,000 sum into a whopping Dh637,000 profit.

Not bad for a day on the trading floor, even if the winning firm was taking part in a virtual oil trading game - and the company employees were all still at school.

Seven teams took part in the Carbon Trading Challenge at the all-male American International School in Abu Dhabi yesterday. The workshop, sponsored by the oil company BP, was part of an educational programme that teaches pupils maths, enterprise and commodities strategies.

One of the four Emirati pupils who won the challenge said the experience had been so thrilling he wanted to go into the industry.

"I would like to work in oil after this because it would be such an exciting job," said Saeed al Dhahiri, 14, the chairman of his group's company. "When the prices go down we have to buy and when they go up, we have to sell."

The team, nicknamed Adnoc after the Abu Dhabi National Oil Company, won the trial game and the real event.

Mohammed al Nahyan, the company accountant, said winning twice felt "amazing". Hamdan al Zaabi, the market analyst, said he didn't know much about oil trading before the game but had learnt from his first experience.

Fadhel al Marar, Adnoc's manager, said that as Emiratis it was crucial for them to learn about the business of oil trading and that the game had been fun.

"It's really important for us to learn how to trade oil, especially living in Abu Dhabi," he said. "The UAE is our country and we must know these things."

The game required teams of four or five boys to act as virtual companies in a simulated oil trading environment. They had to analyse global market news and manage their budgets accordingly.

Each company member chose a role to act out from the accountant, the manager, the chair, the market analyst and the trader. Each team started with 100 barrels of oil and US$5,000. The group with the most money at the end of the two-hour workshop was the winner.

"The idea behind the trading challenge itself is that we're trying to bring maths and enterprise to life," said James Frecknall, one of the game's organisers.

"These subjects often get thought about as textbook but we were very keen to put it in a real-life context. The kids hear about the recession, the global economy, oil and trading, especially being in the Middle East, and the way it has an effect on the world."

The students learnt how to complete a trading request form, a financial report and read the trading rules and regulations. After every virtual market news update they had four minutes to trade their oil, submit their trading slips and explain the number of barrels sold and their reasons.

The teams, featuring nicknames such as Eco World Centre, Barclays and Stam, were also briefed on the value of determination, respect and excellence within trading and shown a video on the world of business.

The Palestinian student Adam Nabulsi, a trader at BBE, said he felt similar to his father, who trades shares for a living.

"I always follow what he does and I think when I'm older I might work in this field," he said.

Mr Frecknall and fellow organisers Scu Moncur and Gemma Price said the players were outstanding on the day and worked well with the ideas that were presented.

"You do see a definite interest in kids here compared to back in the United Kingdom because oil is present in Abu Dhabi and people here have a day-to-day contact with it," Mr Frecknall said.

His team, which works for the communications agency EdComs, has been in the programme for two years. They will visit five schools in the capital as part of the Abu Dhabi Festival.

However, not everyone was quite so taken with the exercise. Mohammed Anas, the accountant at Stam, said he would not consider oil trading as a career after finding the game too stressful.

"I didn't like having people shouting around me and feeling bankrupt," he said. "I think if I play this game in real life I will be bankrupt."

Emiratisation at work

Emiratisation was introduced in the UAE more than 10 years ago

It aims to boost the number of citizens in the workforce particularly in the private sector.

Growing the number of Emiratis in the workplace will help the UAE reduce dependence on overseas workers

The Cabinet in December last year, approved a national fund for Emirati jobseekers and guaranteed citizens working in the private sector a comparable pension

President Sheikh Khalifa has described Emiratisation as “a true measure for success”.

During the UAE’s 48th National Day, Sheikh Khalifa named education, entrepreneurship, Emiratisation and space travel among cornerstones of national development

More than 80 per cent of Emiratis work in the federal or local government as per 2017 statistics

The Emiratisation programme includes the creation of 20,000 new jobs for UAE citizens

UAE citizens will be given priority in managerial positions in the government sphere

The purpose is to raise the contribution of UAE nationals in the job market and create a diverse workforce of citizens

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Cargoz%3Cbr%3E%3Cstrong%3EDate%20started%3A%3C%2Fstrong%3E%20January%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Premlal%20Pullisserry%20and%20Lijo%20Antony%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2030%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Seed%3C%2Fp%3E%0A
Captain Marvel

Director: Anna Boden, Ryan Fleck

Starring: Brie Larson, Samuel L Jackson, Jude Law,  Ben Mendelsohn

4/5 stars

%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nag%20Ashwin%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EPrabhas%2C%20Saswata%20Chatterjee%2C%20Deepika%20Padukone%2C%20Amitabh%20Bachchan%2C%20Shobhana%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E%E2%98%85%E2%98%85%E2%98%85%E2%98%85%3C%2Fp%3E%0A
Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

RESULTS

6.30pm: Handicap (rated 95-108) US$125,000 2000m (Dirt).
Winner: Don’t Give Up, Gerald Mosse (jockey), Saeed bin Suroor (trainer).

7.05pm: Handicap (95 ) $160,000 2810m (Turf).
Winner: Los Barbados, Adrie de Vries, Fawzi Nass.

7.40pm: Handicap (80-89) $60,000 1600m (D).
Winner: Claim The Roses, Mickael Barzalona, Salem bin Ghadayer.

8.15pm: UAE 2000 Guineas Trial (Div-1) Conditions $100,000 1,400m (D)
Winner: Gold Town, William Buick, Charlie Appleby.

8.50pm: Cape Verdi Group 2 $200,000 1600m (T).
Winner: Promising Run, Patrick Cosgrave, Saeed bin Suroor.

9.25pm: UAE 2000 Guineas Conditions $100,000 1,400m (D).
Winner: El Chapo, Luke Morris, Fawzi Nass.

Soldier F

“I was in complete disgust at the fact that only one person was to be charged for Bloody Sunday.

“Somebody later said to me, 'you just watch - they'll drop the charge against him'. And sure enough, the charges against Soldier F would go on to be dropped.

“It's pretty hard to think that 50 years on, the State is still covering up for what happened on Bloody Sunday.”

Jimmy Duddy, nephew of John Johnson

The%20specs%20
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INFO

Visit www.wtatennis.com for more information

 

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

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