章 689: Chapter 689: Where Did You Hear That?
I sat with my hands clasped, scrutinizing Michael Weiss.
With his confident demeanor, blond hair, and blue eyes, he looked like a quintessential American. This was our first time meeting in person.
"Charlie? Is there something on my face?"
He asked with a smile, perhaps because I was staring at him.
His smile resembled that of a successful white businessman straight out of the media.
"Not at all. It's just fascinating to see the real powerhouse behind Chevron in person. What a surprise!"
"I appreciate the compliment. It's quite astonishing that the owner of Dream High is such a young person."
Once we exchanged pleasantries, I took a seat next to him.
"Coffee is okay with you?"
"Of course."
Manager Ma left the study to prepare the coffee, and I redirected my focus back to Michael.
"I understand you've only just arrived in Korea less than a day ago."
"How did you know? The Korean government only found out about our arrival after we boarded the plane."
His response felt probing.
Does the Korean government really need to investigate the movements of a Chevron executive?
"The Korean government isn't particularly concerned about the arrival of a Chevron executive. But I certainly am very interested."
"So you've been monitoring our movements," he remarked.
"Even without putting in extra effort for surveillance, I can find out whatever I wish to know."
"You've got quite an impressive level of confidence, don't you?"
Michael maintained his cheerful demeanor. I responded with a smile as I approached the conversation.
However, the atmosphere in the study was tauter than ever.
At that moment, Manager Ma entered with the coffee, instantly lightening the mood.
"This is a Korean-style instant coffee. It's surprisingly good. Give it a try."
Instead of serving high-end coffee made from expensive beans, he intentionally offered instant coffee.
Michael raised the coffee cup he had been served without any change in expression.
"Oh, this is indeed quite tasty, just as you said. It's sweet yet slightly bitter. Is this expensive?"
"Not at all. It's only 100 Won… about 12 cents."
"You're telling me this delicious coffee is just 12 cents?"
"I hear it's becoming quite popular even in Korean markets in the U.S. But it seems you don't indulge in coffee often. It's cheap and easy to make. If it suits your taste, you'll find yourself drinking it frequently. Just tear open the packet, add hot water, and stir, and you're done!"
He sipped his cup while I explained.
I intentionally served him this inexpensive coffee to gauge his reaction, and it wasn't disappointing.
"This is really good. I might have to take some back with me when I return."
I couldn't tell if he was merely hiding his thoughts, playing it cool, or genuinely impressed.
But his face gleamed with satisfaction, suggesting he genuinely liked it.
Having gauged his persona a bit, I decided to drop the pretense and get to the point.
"Mr. Michael, why did you want to meet with me? You must have something urgent to discuss."
Michael placed the empty coffee cup down and replied.
"I just wanted to meet the person leading this project. But then I discovered that person is the owner of Dream High."
"You seem to know a great deal about me."
"To some extent. Nobody can truly know everything about you, can they?"
"Did you hear this from Condoleezza Rice, the National Security Advisor?"
Michael did not deny it. He nodded slightly and continued.
"Yes. I asked her for information about you. The more I learned, the more fascinated I became. I've always wondered who managed to snag Yugansk entirely. After all, Yugansk was a prized asset for Royal Dutch Shell."
When Yugansk, specifically the Yukos liquidation process, was underway, Royal Dutch Shell showed the most interest.
Royal Dutch Shell was one of the major oil companies formed by the merger of the Dutch Royal Oil Company and a British oil company.
They tried every possible means to acquire Yukos.
In the end, however, the primary asset of Yukansk fell into my hands, while all the other subsidiaries were divided among Russian oil companies.
This was undoubtedly a missed opportunity for the major oil players.
"Despite all the efforts of Royal Dutch Shell, they failed to acquire it. In the end, an unremarkable company became the owner of Yugansk. Everyone suspected that the owner of the Kremlin used a shell company to make the acquisition."
Even though Dream High's funds were involved, the company that acquired Yugansk was the newly established Yugansk Oil Company in Russia.
The ownership details of that company were kept strictly confidential.
My stake was 51%, so it was fine to call me the owner, but the rest belonged to the Russian government.
"But I never expected you to be the owner of that company. It's astonishing that you managed to acquire such a large oil company like Yukos. Even if Dream High has strong financial backing, it shouldn't be able to handle such an acquisition."
Michael had been lavish with his compliments for a while. His ulterior motives seemed to grow as his tongue loosened.
"There are various other businesses underway as well. You're the one who triggered the changes in North Korea, right?"
"That's enough compliments for now. Now it's your turn to explain why you're here."
What would follow after this stream of compliments piqued my curiosity.
A deeper smile stretched across Michael's face in response to my words.
"Haha. Did you catch on? This pipeline and gas pipeline construction is moving forward much faster than we anticipated. We at Chevron thought it would take at least ten years before we could even start."
Just ten years? This was a project that might not even see a signed contract for decades.
This plan originated when the Soviet Union collapsed and Korea established diplomatic relations.
However, there were numerous obstacles, including the enormous variable of North Korea and the complex Russia-U.S. relations.
"That might be so. But such projects typically gain momentum quickly once they catch fire. While it's a governmental contract, it's also a matter between private entities."
This time, however, it was different.
I had transformed North Korea and leveraged my friendship with the Russian president to accelerate the project. All changes initiated by me.
Even the oil cartel, no matter how powerful, couldn't have anticipated this.
"That's true. The beginning is tough, but once it takes off, time does its magic. Provided there are no obstacles, of course."
"Hmm… Can I take that statement to mean you're implying you're going to disrupt this project?"
I squinted at him as he smiled and raised both hands.
"No way. The Russian and Korean governments have already issued a joint statement regarding this project. To sabotage it would demand a herculean effort from us too. Well… we could, but the effort versus the benefit doesn't balance out. Even if Geumsung Oil goes bankrupt, it won't significantly affect us."
To dismiss Geumsung Oil, one of Korea's top four refineries, so casually was astounding.
But given it was Chevron, their reaction was somewhat understandable.
If Geumsung Oil went under, it would be a loss for them, but in light of Chevron's scale, it wouldn't be a major blow.
"I doubt Aramco would act either."
If the effort incurs greater losses than gains, there's no reason to take that risk.
This might not apply to national issues, but private companies don't have to suffer losses for the sake of profits.
Aramco might have its reasons, but who knows.
"So, what's your point? What do you want to say?"
"Please let Chevron be included in the Seven Islands project."
"The Seven Islands project?"
The unexpected request caught me off guard, and I tilted my head subconsciously.
"I heard that Japan and Korea are resuming exploration of the Seven Islands."
"Where did you hear that?"
While the Korean and Japanese governments had reached an agreement, only a handful were privy to this information.
"I stumbled upon it by chance."
What a coincidence! I glared at Michael, my brow drawn together.
If Chevron knew, then so would other major oil companies.
Noting my changing expression, Michael hurriedly added on.
"Only three people, me included, are aware of this fact within Chevron. Other major oil companies are definitely in the dark."
"The fact that three know is concerning."
"I swear, I only discovered this while investigating Yugansk Oil."
That made sense. After hearing my story, Condoleezza Rice likely investigated Yugansk and found out this fact.
I stroked my chin, lost in thought.
Once information is exposed, it spreads like wildfire.
There's now another reason to expedite this project.
"Yes, that's correct. It's in the works."
"So, it is true. They will take over the exploration in Yugansk."
"That's accurate."
Michael's face brightened as if he was pleased with my response.
"Please include Chevron in this exploration."
"It's just an exploration. Why would Chevron need to be involved?"
"We are convinced that vast natural gas reserves lie within the continental shelf that includes the Seven Islands. We've made several attempts through Japan to secure development rights for the Seven Islands."
Look at that! The Seven Islands are an oil and gas field located in the area of Jeju Island.
"The Seven Islands are clearly within Korea's territorial waters. You attempted to gain development rights through Japan?"
"Are you aware? Back then, it might've been recognized as Korea's territorial waters, but since the UN introduced the concept of exclusive economic zones, Japan has prioritized claiming it as its own territorial waters. If meaningful exploration hadn't been conducted by 2028, our analysis suggests that Japan, China, and Korea would split the Seven Islands among themselves."
Michael was precisely spot on.
This was the reason I was pushing to expedite the Seven Islands project.
"Among those areas, the estimated capacity in the region likely to fall within Japan's exclusive economic zone is the highest."
Come to think of it, the entities compiling the UN report were the oil cartels.
It's no surprise that Chevron is confident regarding the Seven Islands.
As I organized my thoughts, Michael kept talking.
"However, I recently learned that the Korean and Japanese governments have agreed to resume exploration. The primary contractor will be the Korea National Oil Corporation and the Japan Oil and Gas Corporation, with Yugansk Oil handling the actual exploration. This led to a sudden need to revise plans."
Having desired this for so long, I couldn't blame him for feeling anxious.
"The venture is too large for Yugansk Oil to tackle alone. The U.S. government will certainly keep an eye on it."
"And what if they don't?"
"They'll mobilize the Japanese government to delay the project. They wouldn't favor the profits flowing to Russia."
I had already considered this aspect.
The U.S. is a country that wouldn't hesitate to go to war for oil.
But the owner of Yugansk Oil was Dream High.
Dream High was an investment firm based in the U.S.
Michael seemed to forget that the profits of Yugansk Oil would benefit both the U.S. and Russia.
"Dream High controls Yugansk Oil. Dream High is an American corporation. In the end, the profits gained from Yugansk Oil would also benefit the U.S. Isn't that something you're overlooking?"
"That can't be true. But Dream High's owner isn't an American."
The talk about nationality surfaced again. I rubbed my forehead, tired of hearing it.
"In American politics, there's a long history of the Republican and Democratic parties joining forces for American interests. But Chevron is different. It is an American major oil company made by Americans. They have no reason to pick on us in U.S. politics."
"What will you do if I say no?"
"Then we'd have to think of another way. What happens is unpredictable. Controlling information has its limits."
How daring of him to threaten me.
He was clearly implying that if I didn't involve Chevron, he'd leak information.
But this man didn't know me well enough.
"Mr. Michael."
"Yes? Go ahead."
"You know nothing about me. Do you really think such a threat will work on me?"
"Threat? I'm just sharing my concerns."
"Clearly, you don't know me. I'm not one for games or threats."
My icy tone made Michael fall silent.
It was clear he was uneasily glancing around, caught off guard by the sudden shift in mood.
"This is how you threaten, Mr. Michael. Would you care to buy some Chevron stocks right now?"
"..."
"Chevron is listed on the New York Stock Exchange, right? What's the current market cap? 100 billion dollars? 200 billion? Care to wager? With Dream High's financial power, I'm confident I could surpass Vanguard, the current majority shareholder, and take the lead. Do you really want to fight me?"
It's one thing to shake an unlisted company, but what happens when you rattle a listed company? Michael clearly underestimated that.
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