Rebirth of the Official Business Route

Correction: Crude oil price should be calculated in barrels, 20-140 US dollars per barrel)

As the deputy secretary and deputy general manager of China National Offshore Oil Corporation, Liu Chengwei is under great pressure. The head office has just registered CNOOC Limited in Hong Kong. He is also the chairman and executive officer of CNOOC Limited. Position.

Registering an offshore company is to make the final preparations for listing on the Hong Kong Stock Exchange. The head office will spin off the business assets of oil and gas exploration, development, production and sales from the head office of CNOOC, which is about to be listed. w Novel chapter updated fastest

The important task of listing on the Hong Kong Stock Exchange was placed on Liu Chengwei's shoulders. It was at a time when the head office party group was full of confidence in overseas listings. Then the roadshow before the initial listing in Hong Kong at the end of April gave Liu Chengwei a fight with the company party group. The feeling of stick, the indifference of investment makes the listing prospects bleak, the lead underwriter even suggested to cut the stock market plan, reducing the proportion of 24% of the stock market to 12%, and the price of the market should also be lowered.

To revise the listing plan in accordance with the recommendations of the underwriters, it is better to abandon the listing plan. The party group of the head office is already considering measures to deal with the failure of the listing plan. These things are in Liu Chengwei's heart and make him feel uncomfortable.

I was not in the mood to come to Xinting to participate in the initial activities of the negotiation, but Tang Xueqian, deputy governor of the Standing Committee of Jiangnan Province, personally participated. The offshore oilfield support base project belongs to the base company system. This part of the business does not belong to the listed company. It is not Liu Chengwei who is also the deputy secretary of the party group in charge of the base company system. It is an unshirkable responsibility to attend such an event. w "Fiction" novel chapters are updated fastest

After attending the event, Liu Chengwei and his assistant, CNOOC’s CFO Xie Zilei, both were exhausted. They were hosted by the East China Base Company at night. Neither he nor Xie Lei were in the mood to participate. They went back to the hotel to discuss listing. The final countermeasure. Although he knew that Tang Xueqian, deputy secretary of the Jiangnan Provincial Party Committee, also lived in Dongshan Hotel, he was not in the mood to visit.

"Boom boom boom..."

Liu Chengwei sat on the sand and studied the listing materials. He heard someone knocking on the door. Then he saw his secretary push the door and tell him: "Mr. Liu, Vice Governor Tang is calling, and I want to come and meet you..."

Liu Chengwei didn't know what was necessary to meet Tang Xueqian in private besides official business, but he had no reason to refuse, so he handed the materials to the secretary to put away, and went to the reception room with Xie Lei.

Liu Chengwei saw Tang Xueqian coming over. Except for his local secretary. There are two young people.

"Come and introduce two people to Secretary Liu. Secretary Liu doesn't think I'm taking the liberty?" Tang Xueqian smiled and sat down. He is still used to calling Liu Weicheng an official position.

"How come?" Liu Chengwei speculated about the identity of the two young people. He invited Tang Xueqian to sit down. Sit down by yourself. Then he asked others to sit down.

"This is Mr. Ye Jianbin, the president of the land." Tang Xueqian pointed to Ye Jianbin and introduced him to Liu Chengwei.

Liu Chengwei stood up from the sand subconsciously. Although he has never seen Ye Jianbin. Kumho Corporation does not occupy very high shares in the Dongshan Port company. But as the driving and planning behind the Dongshan Port project. Liu Chengwei is naturally no stranger to Kumho Corporation. No stranger to the Ye Family. in addition. With him in a high position at the deputy ministerial level. I know enough about Kumho Land. When he stretched out his hand to hold Ye Jianbin. His eyes were already looking sideways at Ye Jianbin's younger-looking youth. He hesitantly asked: "This one is?"

"Zhang Ke took the liberty to visit at night..." Zhang Ke stretched out his hand to shake Liu Chengwei. He also shook hands with Xie Lei, who was standing beside Liu Chengwei.

"..." Even if he guessed that the young man in front of him was that person, Liu Chengwei was stunned for a moment, thinking that he was really young. I was shocked. If you look at people who have a little knowledge of Kumho in the country, who wouldn't want to see you?"

Zhang Ke also smiled slightly. Everyone sat down and chatted for a while. Zhang Ke went directly to the subject and asked Liu Chengwei: "I heard that Japan's Mitsui & Co., Ltd. proposed to the State Planning Commission Energy Bureau to open the East China Sea oil and gas field. What is the opinion of the company on this matter?"

The Japanese proposal has a strong political color. As a senior deputy ministerial official, whether in public or in private, he should be careful not to speak out. Liu Chengwei looked at Zhang Ke in confusion, but was also a little wary. He founded such a dazzling career, and Kumho Land is also entangled in many political relationships, thinking that he shouldn't ask such a straightforward question. Liu Chengwei was a little unhappy, but he didn't want to turn his face. He only said vaguely: "CNOOC has not been officially notified. Maybe this is Mitsui's wishful thinking..."

"What if CNOOC's IPO and financing plan fails this time," Zhang Ke asked aggressively, "If the IPO and financing plan fails, CNOOC will consider accepting Mitsui's proposal?"

Listening to Zhang Ke's question, Liu Chengwei glanced at Tang Xueqian and Ye Jianbin who were sitting aside, and his mind calmed down. Kumho can promote the port construction project, and the strong capital behind them, who have close relations with Southeast Asian Chinese businessmen, will certainly not be unreasonable. Of talking about such a sensitive political topic.

Kumho Corporation is headquartered in Hong Kong, and Kumho’s backdoor listing in May 1997 can be regarded as a classic financing. The timing is so clever that many people just want to believe that Kumho’s fortunes are extremely good.

Liu Chengwei said: "At present, the oil and gas business listing plan is encountering some difficulties, but Mitsui's cooperation proposal is another issue, and the party group has not discussed it. I am not good to question you."

"I have asked someone to collect some materials on the listing of China National Offshore Oil Corporation. I would like to ask Mr. Liu for some advice," said Zhang Ke. The proposed listing company injected a total of 11.1 billion in net assets, which is different from the practice of stripping off debts of other state-owned enterprises overseas listing. Offshore Oil Corporation also placed 12.6 billion in debt into the proposed listing company. The head office has no debt but still holds it. Cash, this is also something that investors can't understand..."

Liu Chengwei was very pleased that Zhang Ke was able to ask these questions in front of him, and patiently explained: "The oil and gas exploration, development, production, and sales assets injected into listed companies are the core assets of the head office, and they are also high-quality assets. The management transparency is also extremely high. Business assets

The profit of the land is as high as 100 million, and the forecasted profit in 1999 will reach 31.1 billion. The asset quality of the base companies and professional companies that came out is relatively poor, and the profitability is also weak, but the exploration, development, production and sales of offshore oil cannot be separated from the base. With the support of the company and the professional company, these two must be developed in a balanced manner. At present, there is still a big gap in the quality of the two parts of business assets, and there are also many gaps in profitability. How can we achieve a balanced development? The head office held several meetings and discussed and negotiated before deciding to strip the debts to the listed company for digestion, and leave more cash for other businesses to develop——"

Xie Lei was thinking about the Mitsui proposal mentioned by Zhang Ke just now. He thought that if the listing and financing were successful, the head office would naturally reject the Japanese proposal with confidence. If the listing and financing failed, even in the end, it would be able to reject the Japanese proposal. However, the opening of oil and gas fields has to be delayed due to lack of funds. In fact, it also allowed Japan to achieve its goal of delay. Xie Lei thought of his expression of joy. He knew that the two principals of Kumho came to visit at night accompanied by the executive vice governor of Jiangnan Province. They would never be unreasonable. The head office’s financing plan this time is one billion US dollars. Kumho has the courage to build a port on Dongshan Island, but it really helps solve big problems.

"The Petroleum Corporation and the Petrochemical Corporation have plans to go public in the near future. We have also carefully analyzed the gap between the three domestic oil companies," said Ye Jianbin. "In the petroleum industry, scale is the most important indicator of competitiveness. In the domestic market, PetroChina controls 67% of its oil production capacity and refining capacity, Sinopec controls 22% of its oil production capacity and 60% of its refining capacity, and CNOOC and its foreign partners only control 1 oil capacity, without refining capacity—from From the above point of view, CNOOC is not our best choice, but Mitsui and Kumho are competing in many aspects, presumably Secretary Liu has also heard that Kumho is willing to help in the overseas listing of CNOOC..." Ye Jianbin I don’t talk about national interests. In the face of business activities, those words are a little empty, which will make people think about the politics of Kumho. Anyway, the conflicts between Kumho Corporation and Mitsui are not two together, they are mutually related. The hind legs are also semi-public.

On the one hand, Liu Chengwei feels pressured by the difficulties encountered in listing; on the other hand, who wants to be able to exploit the oil and gas resources of the East China Sea alone, who would be willing to let foreign companies intervene? Moreover, the cooperation with Mitsui is very politically sensitive. Even if the political responsibility will be borne by those above, the head office will have to bear the pressure of public opinion.

Kumho is able to participate in China Ocean’s overseas travel plan. This is probably the best news Liu Chengwei has heard during this period. Since all the talks are straightforward on the table, he also directly asked: “We plan to go public and raise ten 100 million U.S. dollars, this is a figure approved by the State Council. It is unlikely that this figure will be compressed. How much can Kumho share?" He looked at Ye Jianbin and then at Zhang Ke.

"Kumho can spend two to three hundred million US dollars," Zhang Ke said. "In addition, Kumho is still a bit in Southeast Asia. I can give President Liu a promise here to share at least 400 million for China National Offshore Oil Corporation. The dollar’s ​​financing mission..."

Enough. If Kumho stepped up to undertake a financing task of at least 400 million US dollars, it would give other investment institutions and small and medium investors a strong confidence. As for the proposal to boycott Mitsui & Co., Ltd., Offshore Oil Corporation should take this for granted. Stance.

Liu Chengwei also knew in his heart that the head office only had 4.2 billion in cash, but the debt was as high as 12.6 billion. The financial pressure was great. If you want to break through the suppression of PetroChina and Sinopec, overseas listing and financing plans are not allowed. There is a mistake. Otherwise, relying on the central government's funding of more than two billion yuan will be far from reaching a large-scale breakthrough. This time, if we can raise one billion US dollars overseas, China will be able to add five more to the bank, and the hands will be 134 billion more in cash. The pace of expansion can be even greater, and it will cooperate with international oil companies such as Shell. Be more proactive when working together.

Xie Lei's face was full of joy, and the haze that was pressing in his heart these days was all at once, and he was a little strange. Kumho had never contacted them before. If Kumho really has a financial investment plan for CNOOC, no Should I be in contact with here long ago?

Kumho’s participation in CNOOC’s overseas listing plan is at most a financial investment and cannot directly intervene in CNOOC’s operations. Even if Kumho spends US$300 million, it only accounts for 7% of CNOOC’s total equity, and CNOOC’s absolute controlling share. In contrast, neither is qualified to recommend board members.

Kumho uses Dongshan Iron and Steel and Donghai United Steel Group to build a 10-million-ton steel industry base and eventually integrate into a large steel group. Kumho nominally has the right to recommend two board members. In addition, Kumho Corporation owns The iron and steel group's raw material iron ore part or all of the import and purchase rights, and the degree of influence on the steel group is difficult to compare with ordinary financial investment.

Even if you know that participating in the overseas listing of state-owned enterprises in the form of financial investment will have good returns~www.wuxiaspot.com~ But Kumho Corporation is not here. Kumho Corporation wants to infiltrate and influence the industrial chain more and promote the balanced development of the upstream and downstream of the industrial chain, so it is more willing to directly promote investment in large projects such as the Dongshan Island port construction project and the 10-million-ton steel industrial base.

CNOOC’s situation should be regarded as a special case. On the one hand, Mitsui’s ambition to demarcate oil and gas fields is one aspect. Tingdongshan Port, in Jiangnan Province, is in the marginal area controlled by PetroChina and Sinopec.

When Zhang Yang said this, Tang Xueqian, who had never said a word, said: “The province also hopes to see the offshore oil company successfully listed overseas. After all, CNOOC has successfully started the development of the boundary oil and gas field. The production support we are discussing today The base project will have practical significance. In addition, although the Central Unification Ministry has planned to integrate Jinshan Petroleum's refining business and gas station business with Sinopec, the degree of Sinopec has always been a bit slow..."

Only then did Liu Chengwei understand the intention of Tang Xueqian, Zhang Ke, and Ye Jianbin to visit late at night. Kumho participated in CNOOC's overseas stock trading in the form of financial investment. CNOOC Limited must not only resolutely resist Mitsui's greed for gas in the boundary oilfields, but also develop Jiangnan Province into CNOOC's six industrial bases.