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Hearing of govt s bid to stop PetroSaudi from using 1MDB funds to resume Feb 20, 2024

Hearing of govt s bid to stop PetroSaudi from using 1MDB funds to resume Feb 20, 2024
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Hearing of govt s bid to stop PetroSaudi from using 1MDB funds to resume Feb 20, 2024

Hearing of govt s bid to stop PetroSaudi from using 1MDB funds to resume Feb 20, 2024
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Hearing on govt s bid to stop PetroSaudi from using funds linked to 1MDB postponed to Nov 23

KUALA LUMPUR: The hearing of the government’s application to block PetroSaudi International Ltd (PSI), its subsidiary PetroSaudi Oil Services (Venezuela) Limited (PSOS-VZ) and Saudi national Tarek Obaid, from using over US$340mil (RM1.55bil) linked to 1Malaysia Development Berhad (1MDB) which was kept in a client’s account at a United Kingdom law firm, has been postponed to Nov 23.

PSOS-VZ oil project not possible without $185m transfer from 1MDB | Daily Express Online

The High Court here Tuesday was told that it was not possible for Petrosaudi Oil Services (Venezuela) Limited (PSOS-VZ) to pursue an oil exploration project with the Venezuelan government without the transfer authorisation of US$185 million from 1Malaysia Development Berhad (1MDB) funds by its parent company, Petrosaudi International Ltd (PSI)

Petrosaudi project in Venezuela impossible without 1MDB funds, court hears

KUALA LUMPUR: The High Court here was told that it was not possible for Petrosaudi Oil Services (Venezuela) Limited (PSOS-VZ) to pursue an oil exploration project with the Venezuelan government without the transfer authorisation of US$185mil from 1Malaysia Development Berhad (1MDB) funds by its parent company, Petrosaudi International Ltd (PSI).

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