Last Update

2016-08-29T00:00:00.000Z

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Wrong Tarek Obaid?

Mr. Tarek Essam Obaid

Investment Strategy

PetroSaudi International Ltd

HQ Phone: +44 20 7514 0100

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PetroSaudi International Ltd

1 Curzon Street

London, London W1J 5HB

United Kingdom

Company Description

PetroSaudi was founded in 2005 by Tarek Essam Ahmad Obaid and private investors. The company has brought together a core team of highly regarded and experienced leaders from the international oil and gas industry, alternative energy, mining, infrastructur ... more

Find other employees at this company (93)

Background Information

Affiliations

Board Member
Sarawak Report

Co-Founder
C&O Partners

Education

BS

International Relations

Georgetown University's School of Foreign Service

Web References (135 Total References)


How Tarek Obaid surrendered ...

www.sarawakreport.org [cached]

How Tarek Obaid surrendered control of the USD$700 million loan repayment PetroSaudi Director Tarek Obaid fronted the buy out..

PetroSaudi Director Tarek Obaid fronted the buy out..
A significant document indicates that back at the time of the signing of the 1MDB Joint Venture, September 29th 2009, the PetroSaudi Director Tarek Obaid specifically surrendered all rights to the so-called loan repayment to his company by 1MDB.
He signed a seemingly strange letter from PetroSaudi's head office in the Caymans to PetroSaudi International Limited, PO Box 1239, Seychelles (naturally assumed to be a direct subsidiary) in which he declared:
...
Tarek Obaid
...
As demonstrated, the $700 million dollars over which Tarek Obaid had surrendered all rights, (followed by another $320 million in total) had in fact been sent to Good Star anyway, not PetroSaudi International Limited (Seychelles).
...
Tarek Obaid signed the document on behalf of PSI Seychelles, which is described as a wholly owned subsidiary of PetroSaudi Holdings (Cayman) Limited (Company No.: MC-231027).
...
Tarek Obaid signed the buy out in the capacity of Director of the company and it was announced to the world that this was a purchase by PetroSaudi and it had nothing to do with money siphoned out of 1MDB.


Sarawak Report

www.sarawakreport.org [cached]

Photographed at the centre of all this Turkey-shocking 'debauchery' was Najib's joint venture business partner, Tarek Obaid of PetroSaudi....


Tarek Obaid, photoed on the ...

www.sarawakreport.org [cached]

Tarek Obaid, photoed on the 'scandal yacht' last month

Tarek Obaid, photoed on the 'scandal yacht' last month
...
In late July, just as the DOJ was bringing out its findings on the largest ever kleptocracy seizure in the United States, one of the key players in the whole event, PetroSaudi Director Tarek Obaid, was featuring prominently in a yacht party that caused outrage in Najib's key ally Turkey.
Two days after Najib's ally Erdogan had quashed a military coup pal Tarek and his Saudi hedonistic friends were enjoying Ukranian girls for money
Two days after Najib's ally Erdogan had quashed a military coup pal Tarek (see arrow) and his Saudi hedonistic friends were enjoying Ukranian girls for money off the Turkish coast
...
Which means that PetroSaudi's Tarek Obaid has carried on as before - enjoying the pleasures bought by the billions stolen from a fund set up in the name of improving the lives of Malaysia's poorest people.
...
Photographed at the centre of all this Turkey-shocking 'debauchery' was Najib's joint venture business partner, Tarek Obaid of PetroSaudi. This is the man whom very many people in Malaysia are asking to be held to account or at least investigated for his role in the loss of billions from 1MDb.
...
Indeed Tarek was enjoying the hospitality of a host who has relied on Najib's active support for Saudi Arabia's vicious bombing campaign against civilians, killing women and children in one of the most shameful present episodes in the Middle East.


Tarek Obaid - money of ...

www.sarawakreport.org [cached]

Tarek Obaid - money of dubious origin

...
Tarek Obaid - money of dubious origin
Sarawak Report has obtained documentary evidence which contradicts the longstanding denials by the oil firm PetroSaudi, who have claimed that neither the firm nor its shareholders and directors are under investigation over 1MDB.
A letter sent by the Swiss Federal Prosecutor's Department to various banks, including BSI at the heart of 1MDB scandal, names the PetroSaudi shareholder and director Tarek Obaid as an individual whose finances are presently under investigation.
...
Named by the Swiss Federal Prosecutors as a person of interest - Tarek Obaid
...
Named by the Swiss Federal Prosecutors as a person of interest - Tarek Obaid
...
In this respect the following transaction is particularly suspect: the transfer of a sum of USDX from the account of Tarek Obaid (member of the Board of PetroSaudi International SA) from JP Morgan Suisse to the account of X in 2010."
...
To the contrary, the prosecutor makes clear that money paid to a third party from Tarek Obaid's JP Morgan account is regarded as being of 'dubious origin', having come from the transactions between PetroSaudi and 1MDB during the period subsequent to 2009.
...
In fact, the DOJ shows definitively that Good Star belonged to Jho Low and Tarek Obaid is identified as having directly colluded in the lies:
"On or about May 25, 2011, the PETROSAUDI CEO [Tarek Obaid] sent 1MDB a letter on behalf of PetroSaudi and the 1MDB-PetroSaudi JV.
...
Blatant lie - PetroSaudi did not have a Coutts account - signed by Tarek Obaid, director and shareholder
Blatant lie - PetroSaudi did not have a Coutts account - signed by Tarek Obaid, director and shareholder
...
Also, how could shareholder/director Tarek Obaid have claimed that his company had been 'repaid' a $700 million sum and not notice that it did not arrive? Instead, a payment of $85 million arrived in Obaid's personal JP Morgan account a couple of days later, relating to a "brokerage fee" paid by Good Star Limited itself!
Nevertheless, years later when the whole matter came under investigation in 2015 Tarek agreed to write a letter to 1MDB to confirm that PetroSaudi owned Good Star - a letter that was presented to the Malaysian Public Accounts Committee and Auditor General's investigation as evidence in the place of any actual documentation and which both bodies dismissed.
That letter (again signed by the lying Obaid) has now come to light after being released to BN friendly blogs in Malaysia:
"I can confirm that Good Star's sole share was held by PetroSaudi" - more lies from Obaid
"I can confirm that Good Star's sole share was held by PetroSaudi" - more lies from Obaid
So little surprise that Obaid and all his banking transactions is being investigated by the Swiss authorities.


Founder Director and Shareholder of ...

www.sarawakreport.org [cached]

Founder Director and Shareholder of PetroSaudi, Tarek Obaid was fully behind the operation against Justo says wife Laura

Founder Director and Shareholder of PetroSaudi, Tarek Obaid was fully behind the operation against Justo says wife Laura
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"Exceptionally endearing" Justo was instructed to say of the PetroSaudi director behind his imprisonment, Tarek Obaid
"Exceptionally endearing" Justo was instructed to say of the PetroSaudi director behind his imprisonment, Tarek Obaid
...
This curiously unquestioning article ended on a note entirely scripted to please Comina's other erratic client, PetroSaudi director Tarek Obaid:
"He [Justo] seems genuinely affected by the trouble he has caused Tarek Obaid - "an exceedingly endearing man," he said - he has known him the past twenty years and has always trusted him.
...
"Tarek Obaid is a very endearing man.

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