PetroSaudi International Ltd. or simply known as PetroSaudi is one of the biggest private limited company that base its operation in the area of oil exploration and production, where it was established in 2005 and founded by Tarek Essam Ahmad Obaid and several private investors. The co-founder and CEO of PetroSaudi, Tarek Obaid, is responsible for the company’s overall strategy, management, and high-level of political relationships. He who is a graduate from Georgetown University’s School of Foreign Service is an experience leader and has been both founder and investor in a wide range of businesses that includes technology, financial services and real estate industries.
The establishment of the company help paving the way for the future of energy industry standards through varieties of multinational projects. Its offices are scattered around the world dealing in many energy industry investment comprising oil and gas projects that excluding energy explorations, and it can be found mostly in Switzerland, United Kingdom and Saudi Arabia. As it grew, PetroSaudi has undertaken numerous projects in strategic energy regions such as the regions of the Latin America, Middle East, and other strategic regions. This has help PetroSaudi in developing a significant experience in the development, exploration and related oilfield operations.
PetroSaudi International Ltd.
In details of its operation, PetroSaudi trades gasoline, natural gas, jet fuel, Liquefied Petroleum Gas, chemical feedstock and others related products in global markets. In addition, the company also enhanced its portfolio by providing others services that related to the exploration of geophysics and geology, reservoir engineering, oilfield constructions and operations, development planning, and export management, as well as HSE management and drilling operations compliant that dealing with environment protection, global health and safety measures.
Its commitment to its partners and its participation in building up successful operations has made the company one of the integral suppliers in their operations around the globe through its PetroSaudi Oil Services Limited since its first operation in 2009. In the early 2013, the company has established PetroSaudi Energy & Trading (PSENTRA) to help them dealing in the operation of oil trading and supply operation. The PSENTRA eventually help to build a rapport between the company with varieties of IOCs, NOCs, and independent buyers.
Connection with 1 Malaysia Development Berhad
The connection between PetroSaudi and 1 Malaysia Development Berhad (1MDB) starts on September 30, 2009, when the Prime Minister of Malaysia Najib Razak wants to attract the flow of foreign direct investment into Malaysia rather than flowing into the Middle East.
The relationships between both companies have setting up the joint venture company of at least US$2.5 billion. Later, the news portal of Sarawak Report and British newspaper called The Sunday Times via leaked email correspondences made by the Penang-based financier Jho Low, reported that Low and Najib’s stepson Riza has able to siphon US$700 million from the deal made between PetroSaudi and 1MDB without the approval of Bank Negara but receiving an approval from the Prime Minister for US$1 billion.