Li Ka-shing's oil can rival nations

What does the Iran situation reveal about Li Ka-shing’s foresight in oil investments?

Ferrari is still Ferrari, regardless of age.

On March 19, Li Zeju, the head of CK Hutchison Holdings, disclosed at the 2025 performance briefing for CK Asset and CK Hutchison: after acquiring MEG, Cenovus’s daily oil production has approached 1 million barrels, and he added—

This output surpasses many oil-producing countries.

Over the years, whenever people thought Li Ka-shing was about to “fade away,” his companies would respond with an unexpectedly impressive performance, fiercely rebutting all doubts.

During the early days of the internet bubble and 3G development, CK Hutchison formed six international consortia, planning to bid $45 billion for German 3G licenses. But at the last moment, Li Ka-shing withdrew.

International media lamented that a superman’s vision was too short-sighted, missing out on 3G. Soon after, CK Hutchison withdrew, and when the US internet bubble burst, Li Ka-shing not only narrowly escaped disaster but also re-entered the 3G market at a very low price, eventually becoming one of the key operators in Europe.

In recent years, the Li Ka-shing family and CK Hutchison have faced some misfortunes: the Panamanian government forcibly took over two major ports, with hundreds of billions in assets seemingly at risk; the UK electricity grid business, painstakingly built, was sold off at a valuation of hundreds of billions, earning substantial profits but also viewed as a “forced sale”…

Suddenly, public opinion was again in an uproar: Li is no longer effective, he’s old.

His economic cycle theory and business values no longer have a foothold in this turbulent world. His risk management might control himself, but in the world of business, people are often powerless—circumstances are stronger than individuals. Even if you have divine foresight, what can you do?

In summary, the superman who believed that knowledge could change destiny, that heroes are made by circumstances, and that heroes can also shape the times—he’s old now; the elder who often says “Always consider various risks and seize opportunities,” “Always keep a card up your sleeve, even if the sky falls, you can still make money”—he’s truly old.

And just at this moment, the sound of cannons from Iran erupted, causing crude oil prices to soar, creating a petroleum empire capable of producing one million tons of oil per day. Amid the booming gunfire, it told the world that Ferrari is old, but it remains Ferrari, and it also interprets the business philosophy that Li Ka-shing has pursued, built, maintained, and believed in throughout his life:

When the guns roar, you see who wears body armor.

He said he would always have a trump card in hand, and he does; he said even if the sky falls, he can still make money, and he does.

The true king is not always chasing the latest trend or flying on a certain wind; rather:

No matter which way the wind blows, there is always an oil well.