Heat the oil and sweat the onion in it. Squeeze in the garlic and immediately deglaze with the stock (the garlic must not burn!).
Add the ketchup and season the whole thing vigorously with smoked salt, pepper and chilli. Give the whole thing a sweet note with honey and teriyaki sauce. Then reduce the sauce to the desired consistency.
The sauce also makes an excellent base for marinating beef fillet. The quantities given are guidelines and can be changed as you wish.