Английский язык. Практический курс для решения бизнес-задач
Шрифт:
Exercise 2*. Which of the following statements are not correct and why?
1. Royal Dutch/Shell focus their investments on E&P, while BP intensifies its downstream presence by creating a joint venture with TNK. 2. Global industry leaders cannot penetrate the Polish or Hungarian markets because of formidable entry barriers. 3. A.T. Kearney study reveals that consolidation trends are a matter of coincidence. 4. The opening stage generally begins with a single start-up or with a monopoly just emerging from a newly deregulated or privatized industry. 5. Companies in Stage 1 should aggressively defend their first-mover advantage by improving efficiency, creating goodwill and developing competition; they should focus more on human capital and know-how. 6. During the Scale Stage, major players begin to emerge, buying up competitors and forming empires. 7. Companies in the Focus Stage industries need to emphasize their core competencies, focus on profitability, and either shore up or part with weak business. 8. Large companies in the Balance and Alliances Stage prefer to stay independent because their potential for growth is assured. 9. No major M&A activities in the global oil and gas sector have been experienced in the recent years. 10. Central levers of the Value Building Growth method are revenue growth and value increase.
Exercise 3. Use the following terms to make sentences of your own putting them in Russian context
administrative authority –
executive authorities – исполнительная власть
federal authorities – федеральные органы власти
government authorities – правительство
judicial authorities – судебная власть
legislative authorities – законодательная власть
licensing authorities – орган по выдаче лицензий
local authorities – местные органы власти
monetary authorities – руководящие денежно-кредитные учреждения
municipal authorities – муниципальные власти
public authorities – государственная власть
regional authorities – региональные власти
regulatory authorities – регулирующие органы
tax (fiscal) authorities – налоговые органы
Exercise 4*. Fill in the blanks using terms given below.
Conoco and Lukoil: Everyone Wins
The U.S. oil giant gets a good price, Russia’s No. 1 oil company acquires a savvy partner, and Putin polishes Russia’s image
The price was….. Investors aren’t threatening to….. The….. isn’t in an uproar. Foreign…….. haven’t cried foul. Clearly, this was no ordinary day for Russia. The Sept. 29 sale of a 7.59%…….. in Lukoil, Russia’s largest oil company, to U.S. oil……… ConocoPhilips is indeed a first in many ways.
Conoco paid $1.98 billion for the stake, making it both the largest single……. in Russian history and the largest-ever…… by a U.S. company in Russia. It’s a sign that, despite Russia’s notorious political and legal……., the world’s biggest energy…….. are eager to get a piece of Russia’s abundant oil reserves.
Conoco…….. two other potential……, presumably representing David Guggenheim, the U.S. financier and art patron, and a company controlled by Lukoil management. But Conoco was always the clear……., its interest in Lukoil……. for months.
Great deal. What’s more, the…… clearly had strong……. from President Vladimir Putin. Concoco…… James Mulva flew to Russia to meet both Putin and Vagit Alekperov in July. «They won’t have any reason to have any second thoughts about their…….,» Putin said in early September, referring to the possibility that a large U.S. oil company – obviously Conoco – would invest in Lukoil.
Most…… are with Putin on that.
Conoco is paying just $1.63 per proven barrel of oil, which is between a third and a quarter typical……… costs in the West. And for Lukoil, the…….. will bring much-needed Western management and…….
In addition to the…….. investment, Conoco and Lukoil have announced a global…….. That could come in handy in Iraq, for instance. Lukoil has an existing……… with the Iraqi government to develop the country’s West Qurna field, and Conoco has the links with the U.S. government to help ensure these……. now get recognized.
Welcome reassurance. Analysts say the Russian government got a pretty good……… too – far better than in previous privatizations. Although Conoco paid just above the $1.9 billion…….. price, it was very close to where Lukoil’s……. was……… Even better, however, is the……. the deal gives Russia’s……. in the investment……… In recent months, many foreign investors have been appalled at Moscow’s…….. of Yukos, Russia’s No. 2 oil company, which was hit with huge and controversial tax…….. ($7 billion and rising).
The crackdown is generally seen as punishment for Yukos’…… owner and former CEO, Mikhail Khodorkovsky, for getting too involved in politics. But the move against Yukos, which may soon be dismantled and partially………, has raised much more general questions about Russia’s legal…… and the security of private……
By welcoming Conoco’s investment, Putin hopes to show that the crackdown on Yukos wasn’t part of a wider…….. to freeze out foreign investment. Yet it also demonstrates that business in Russia can still be very……. A wink and a nod from the President is nice reassurance. But one day, even the occupant of the Kremlin will change.
Source: Business Week (online), Sept. 30, 2004
Terms:
сommunity, majority, image, claims, backing, rights, campaign, know-how, players, stock, alliance, deal, stability, property, starting, fair, sue, media, treatment, bid, governments, stake, major, rumored, renationalized, privatization, investment, outbid, investors, favorite, decision, analysts, access, replacement, equity, partnership, agreement, trading, boost, unpredictable, risks, CEO
Exercise 5. Translate into English.
От редакции FT: «Газпром» по соседству
Британия обычно не препятствует покупке или поглощению своих компаний зарубежными, и наша газета поддерживает такую политику. Мы выступаем против протекционистских действий правительств, например, Франции и Люксембурга в отношении Mittal Steel, пытающейся поглотить Arcelor, или правительства Польши, которое чинит препятствия экспансии иностранных банков. Но и противоположные действия правительства могут сильно тревожить. Многих заставили вздрогнуть сообщения о возможных планах «Газпрома» – контролируемой Кремлем квазимонополии, обладающей почти четвертью мировых запасов газа, – приобрести британскую газораспределительную компанию Centrica, контролирующую более половины британского розничного рынка газа. И если акционеры Centrica уже начали потирать руки, то в обществе заговорили о возможных последствиях сделки для безопасности газовых поставок и рыночной конкуренции.