Published: March 27 2008 20:11 | Last updated: March 27 2008 20:11
CNOOC, the Chinese offshore oil and gas producer, indicated on Thursday that it wanted to turn into a super-major like ExxonMobil or BP or Royal Dutch Shell to improve shareholder returns in the long run.
Fu Chengyu, chairman and chief executive, said the company’s price-to-earnings ratio would not be higher than its larger and more diversified rivals’ because investors thought a pure upstream company, such as CNOOC, would not be able to shoulder risks better than the big guys.
He said eventually the company might seek to expand into other areas to lift its market valuation. “A soldier who doesn’t want to become a general is not a good soldier,” Fu said.
But CNOOC is actually trading at a higher valuation than that of ExxonMobil and BP and Royal Dutch Shell already.
Nice metaphor, bad analysis.
Copyright The Financial Times Limited 2008
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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