Английский язык. Практический курс для решения бизнес-задач

4. consolidation n – консолидация (реинвестирование дохода, полученного от продажи акций, в менее рискованные ценные бумаги; конверсия краткосрочной задолженности в долгосрочную; укрепление рыночной конъюнктуры; объединение отчетности компаний группы)

consolidate v – консолидировать

5. major n – зд. крупная международная нефтяная компания

6. rumor n – слух; непроверенная информация, которая может повлиять на рынок

7. privatization n – приватизация

privatize v – приватизировать

8. frontier n – граница, рубеж; новая область

9. dissolution n – роспуск (компании или товарищества): юридическое прекращение деятельности компании в добровольном или принудительном порядке

dissolve v – распускать, прекращать деятельность

10. trigger n – курок, механизм; условие соглашения, невыполнение которого автоматически влечет определенные действия

trigger (off) v – приводить в движение, начинать, вызывать

11. first-mover – первопроходец

12. footprint n – след, отпечаток

13. powerhouse n – электростанция; очень энергичный человек; мощная и динамичная компания

14. emulation n – соревнование, состязание, соперничество, подражание

emulate v – соревноваться, состязаться, соперничать, подражать

15. alliance n – союз

ally n

– союзник

ally (to, with) v – соединять(ся), вступать в союз

16. risk sharing – разделение риска

17.authority n – власть; орган власти; полномочие

18. restructuring n – реструктуризация (кредита или компании); пересмотр сроков выплаты долга

restructure v – реструктуризировать

Exercise 1. Answer the following questions.

1. What is the risk that the East European oil and gas companies currently face? 2. What is the policy pursued by the oil and gas majors in Eastern Europe? 3. What is the industry lifecycle according to A.T. Kearney? 4. What are the characteristics of the Opening Stage? 5. What are the main features of the Scale Stage? 6. What do companies in Stage 3 focus on? 7. Why is the Stage 4 named «Balance and Alliances»? 8. Where is the oil and gas industry located in the consolidation curve? 9. What is the essence of the Value Building Growth method developed by A.T. Kearney? 10. What are the challenges faced by Growers, Profit Seekers, Value Growers and Underperformers, respectively? 11. What Russian oil and gas companies can be included in these four categories? 12. What should East European do to survive consolidation? 13. Do you agree with the conclusions of A.T. Kearney’s experts and have their forecasts come true with respect to the Russian oil and gas sector?

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 – административный орган

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