Director of ‘Petromasila’ establishes billion-dollar firm in Oman

ADEN, Jan. 05 (YPA) -Documents revealed that the director of the ‘Petromasila’ company, affiliated with the government loyal to the Saudi-led coalition, established a private commercial company with a capital exceeding 1 billion Omani riyals in 2019, outside of Yemen

The documents, issued by the Real Estate Registry in the Sultanate of Oman, show that the director of ‘Petromasila’ in Hadramout, Mohammed Ahmed Hassan Bin Smait (holding passport number 06767744), established a private company with commercial registration number (1344605) in Oman, with a capital exceeding 1 billion Omani rials, equivalent to 2.8 billion USD.

The documents confirm that Bin Smait is the authorized manager of the so-called ‘Petromasila Trading Company’ in the Salalah Free Zone, a limited liability company, with full and unlimited authority.

The document also mentions that the company’s registered business activities include retail sales of specialized petroleum industry tools.

It is worth noting that the Salalah Free Zone law requires a 25% deposit of the company’s capital upon establishment, meaning that Bin Smait deposited one million dollars to obtain the commercial registration

This comes at a time when the Yemeni people are starving and living in darkness in Aden and other southern governorates, as the Aden Central Bank is unable to purchase fuel shipments or pay employee salaries for the third consecutive month.

@E.Y.M