Chapter 101: A Pleasant Cooperation
Lin Haoran had already done some research on Ahmed Zaki Yamani, the current head of Saudi Aramco.
Not only was he the leader of this giant company, but he was also the Minister of Petroleum and Mineral Resources of Saudi Arabia.
Under his leadership, Saudi Aramco transitioned from a private company to a state-owned enterprise.
This was truly a heavyweight figure.
Still, Lin Haoran felt no nervousness.
He was here for business — nothing more.
Even if this deal didn't go through, he could still find other oil producers in different countries.
US$60 million wasn't a particularly large order —
not huge enough to demand constant attention, but also not so small as to be ignored.
In business, no one owed anyone anything — everything was fair trade.
That evening, Lin Haoran rested early.
He spent an uneventful night in this foreign land of Saudi Arabia.
The next morning, he got up early.
The hotel was modest — only about ten stories tall —
but from his 12th-floor room, Lin Haoran had a clear view of a massive oil field in the distance, along with the towering Saudi Aramco headquarters.
Near the main building, he spotted clusters of huge oil storage tanks.
Seeing those tanks sparked a thought:
Could he rent storage tanks?
After all, once he purchased crude oil, he wouldn't have anywhere to store it.
He couldn't just physically take delivery.
Looking at the tanks, an idea started forming.
Besides, he would have to hold onto the oil for at least half a year to wait for the right price.
From late 1978 to early 1979, Iranian oil exports would be cut off, leading to panic buying and skyrocketing prices.
If he secured this deal now, by mid-1979, oil prices could easily double —
even reaching US$30 or US$40 per barrel by 1980.
Of course, Lin Haoran didn't intend to wait that long.
He planned to sell once the price doubled —
then reinvest elsewhere.
After all, time was money.
If he spent a year and a half just doubling his investment, he wouldn't be satisfied.
(If others heard him say this, they'd definitely shout:
"Are you even human?!")
In the real world, doubling a major investment —
especially when dealing with hundreds of millions —
was no easy feat.
Most giant corporations, like Jardine, Hui Fung Group, or Wharf Holdings, would consider it impressive just to maintain a 10–20% annual profit.
Many large enterprises even ran annual losses because diversified businesses were harder to manage.
After a breakfast of pita bread, sandwiches, dates, and camel milk, Lin Haoran checked the time and headed out with his bodyguards.
They hailed a taxi at the hotel entrance and drove to Saudi Aramco's headquarters.
Within minutes, they arrived at the famed building.
Because he had made an appointment in advance, Lin Haoran was smoothly led by staff into a waiting office.
"You're Lin Haoran?
Oh, my apologies — Mr. Bao didn't tell me you were so young.
Please, have a seat,"
Ahmed Zaki Yamani said with a hint of surprise — but no condescension.
"Mr. Yamani, it's a pleasure to meet you.
Mr. Bao is a senior to me.
When he heard I wanted to purchase oil, he kindly recommended I contact you," Lin Haoran replied politely.
He knew the man before him wasn't ordinary —
even when facing pressure from the U.S. White House, Yamani remained calm and composed.
"Yes, Mr. Bao is a good friend of ours.
Our World-Wide Shipping Group has a longstanding relationship with Saudi Aramco,"
Yamani nodded in acknowledgment.
Otherwise, someone of his stature wouldn't personally meet with a young businessman.
"Mr. Yamani, I know your time is precious, so I'll get straight to the point.
As Mr. Bao mentioned, I'm here to discuss purchasing crude oil from your company.
I have US$60 million ready," Lin Haoran said directly.
"US$60 million is no small figure.
Are you involved in the oil and gas industry?"
Yamani asked curiously.
"No, I have my own plans for the oil.
But rest assured, the funds are ready," Lin Haoran smiled.
He didn't mention anything about the potential oil crisis.
There was no need to show off his insights.
He was here simply to do business.
"That's no problem.
At the current market price of US$12.87 per barrel,
you could buy approximately 4.66 million barrels.
Since you're referred by Mr. Bao, I'll offer you a discounted rate —
US$12.50 per barrel.
That means you'll get around 4.8 million barrels,"
Yamani said after quickly calculating with a handheld device.
"Of course, that's acceptable," Lin Haoran agreed readily.
"But I have another question:
After signing the contract, when will the oil be available for pickup?"
"Saudi Aramco has substantial reserves.
Ordinarily, we deliver based on a shipping queue.
But considering Mr. Bao's recommendation,
if you want immediate access,
you just need to send a tanker to Dammam Port,"
Yamani said with a smile.
Lin Haoran once again marveled at Bao Yugang's influence.
(According to rumors, Bao's guest room wall was filled with photos of him alongside presidents, prime ministers, kings, and dignitaries from all over the world.)
"Thank you, Mr. Yamani.
One more thing — does Saudi Aramco lease out its storage tanks?" Lin Haoran asked.
"Storage tanks?
We don't officially lease them out.
Why do you ask?"
Yamani raised an eyebrow.
"I would like to purchase this batch of oil now,
but I don't plan to transport it right away.
Ideally, I'd like to store it here until around June of next year," Lin Haoran explained.
"Why not wait until you're ready to ship before buying?"
Yamani asked, puzzled.
"To be honest, oil prices change daily.
I'm worried that by next year, prices will be much higher.
I'd rather lock in today's price," Lin Haoran said, smiling.
Yamani immediately guessed Lin's real intention —
but he didn't pry.
Even he couldn't have predicted the impending collapse of the Shah's regime in Iran.
Business was business.
Saudi Aramco sold oil to willing buyers —
they didn't care why people bought.
"Mr. Lin,
we can store your oil free of charge until June 30, 1979.
You can take delivery anytime before then.
If you store it beyond that, additional fees will apply," Yamani said seriously.
"Thank you very much, Mr. Yamani," Lin Haoran said, beaming.
He hadn't expected things to go this smoothly.
Once again, Bao Yugang's network had opened doors.
"Alright then, I'll have the contract drafted.
Please wait here a moment," Yamani said, picking up the phone and speaking rapid Arabic.
Lin Haoran couldn't understand,
but he knew they were preparing his contract.
About ten minutes later, a middle-aged man entered, holding two copies of the contract.
"Mr. Lin, please review the contract carefully.
Let me know if you have any questions," Yamani said.
Lin Haoran nodded and started reading.
It was in English —
no issues there.
The contract terms were clear:
US$12.50 per barrel,
4.8 million barrels,
US$60 million total,
free storage until June 30, 1979.
"No issues, Mr. Yamani," Lin Haoran said with a smile after reading.
This deal was far simpler than he had expected.
Indeed, having powerful connections made everything smoother.
"Very good.
Let's sign then," Yamani said, quickly signing and stamping the documents.
"And when do you expect to complete the payment?"
he asked.
"I'll have the full payment transferred tomorrow," Lin Haoran said, signing the contract himself.
(He planned to wire the money through Hui Fung Bank's office in Doha.)
"Then, Mr. Lin —
a pleasure doing business with you!"
Yamani stood and extended his hand.
"Pleasure doing business with you too!" Lin Haoran replied, shaking firmly.
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