petro saudi is a company at the heart of malaysia's stolen billion in two thousand and nine it entered into a one point eight billion dollars joint venture with one aim to be. the deal was struck on a make a yacht in the mediterranean on board the now fugitive malaysian financier an alleged mastermind jolo who then prime minister najib resigned and his wife. and the hosts petro saudi cofounders prince turki a son of the late king of saudi arabia and to record by at the time to record buried was one of saving is best friends february two thousand. contacted me a couple of times. office because they signed a deal with the malaysian money and they needed directly the guy that you could trust. to run to run the company. xavi went to work with a record by eight and another director patrick mahoney but seven months into the job he says things started to sour it said that if you receive a lot of money you become crazy that's a fact i sold up direct started buying a flat after you bought. renting your in the south of france it's probably are familiar euro's weak everything becomes like extrava

four months later xavier was jailed in thailand on a charge of attempted blackmail against petro saudi it was a terrible shock and there were some very very terrifying pictures i mean he is surrounded by heavily armed guards he was in handcuffs he was being he was being paraded for the malaysian media so therefore you could see that there was conspiracy here at the highest levels. back in malaysia then prime minister najib resign was facing a leadership crisis as he tried to explain one in degrees mind boggling fifteen billion dollar debt. xavi is a wrist was the start of a relentless campaign to discredit the former insider petro sell the announced it was a victim of a crime by an unscrupulous ex employee and hired a dart a security expert who then discredited castle brown tees stated to the world media that i had forged the data and that i had doctored it and that there was you know that i was lying and it was. that these things were being said so i knew something incredibly was going on at a very high level and clearly hugely funded. and things would become even more just design a v

petro saudi deal struck on the yorkshire required when nature to initially invest one billion dollars in the joint venture and petro saudi to contribute energy concessions valued at almost three billion dollars. it's very easy and i listen at money what they did the bin in the front company something that could appear very legal and they found this very beautiful name. it looks like it's the official oil company of saudi arabia that's the only quality but. this beautiful name so the frame of the gun where the stub of. the e-mails showed those billions of dollars were the petro saudi energy concessions had been hugely and fraudulently overvalued something's a.v.o. always suspected and now believed was crucial to the alleged criminal scam in two thousand and nine. but you can hone and ask me if i knew a company or a guy that could evaluate the four to billions. they said no way i'm going to us. a company that is worth pretty much nothing for the billions but it seems mahoney in a bird age got what they wanted by restricting the work of the value asia is cause of work is to have value. a

the e-mails showed those billions of dollars were the petro saudi energy concessions had been hugely and fraudulently overvalued something's a.v.o. always suspected and now believed was crucial to the alleged criminal scam in two thousand and nine. but you can hone enteric ask me if i knew a company or a guy that could evaluate petrel so the four to billions. i'm going to have. a company that is worth pretty much nothing for the billions but it seems mahoney in a bird age got what they wanted by restricting the work of the value asia is cause of work is to have value. the number of houses not. the owner of the. three just overlooking something is nothing i can see. they're giving privileges of i said that it's not but it's not belonging to the scheme. and xavi is cache of documents revealed even more fraudulent activity he was flicking through very quickly and there was there was one sort of bank transfer. i said to him can we go back and look at that because there was a seven an awful lot of zeros i'm assuming it was the seven hundred thousand dollar transfer but actually was there

petro saudi deal struck on the yorkshire required when major to initially invest one billion dollars in the joint venture and petro saudi to contribute energy concessions valued at almost three billion dollars. it's very easy and i listen. what they did the bin in the front company something that could appear very legal and they found this very beautiful name. it looks like it's the official oil company off of saudi arabia that's the only quality but. this beautiful name so the frame of the gun where the stub of. the e-mails showed those billions of dollars were the petro saudi energy concessions had been hugely and fraudulently overvalued something's a.v.o. always suspected and now believed was crucial to the alleged criminal scam in two thousand and nine. but you can hone and ask me if i knew a company or a guy that could evaluate the four to billions. they said no way i'm going to have. a company that is worth pretty much nothing for the billions but it seems mahoney in a bird age got what they wanted by restricting the work of the value asia is cause of work is to have value. a n

four months later xavier was jailed in thailand on a charge of attempted blackmail against petro saudi it was a terrible shock and there were some very very terrifying pictures i mean he's surrounded by heavily armed guards he was in handcuffs he was being he was being paraded for the malaysian media so therefore you could see that there was conspiracy here at the highest levels. back in malaysia then prime minister knowledge of reserve was facing a leadership crisis as he tried to explain one in degrees mind boggling fifteen billion dollar debt. xavi is a wrist was the start of a relentless campaign to discredit the former insider petrocelli announced it was a victim of a crime by an unscrupulous ex employee and hired a dart a security expert who then discredited castle brown he stated to the world media that i had forged the data and that i had doctored it and that there was you know that i was lying and it was great that these things were being said so i knew something incredibly was going on at a very high level and clearly hugely funded. and things would become even more or just d

but laura didn't cut ties with petro saudi she says they were now promising an early release for her husband patrick called me and he was i mean but you know it's we had to do that for the press for the shaw don't worry you will celebrate christmas song with your husband. and you know this that's the point where. you know i have to have a backup plan. and corporate of the thing i was making sure that everything was recorded to make sure that if when the i could prove when they're done. laurie says patrick mahoney pressured her to download an application on her phone so she could record conversations with clear blue castle brown that could then be used to incriminate the journalist. actually i managed to record them . who they are pretty in a way because they forgot that every time they would call me it would've been recorded. many of the recordings are now evidence for criminal complaints the couple have filed in switzerland and the united kingdom and have also been shared with other old thora g.'s including the f.b.i. the prime minister of malaysia was often the subject of discussio

in the hosts petro saudi cofounders prince turki a son of the late king of saudi arabia and to record. at the time to record bade was one of saving is best friends february two thousand. contacted me a couple of times. office because they signed a deal with the malaysian money and they needed directly the guy that you could trust. to run to run the company. xavi went to work with a record by eight and another director patrick mahoney. but seven months into the job he says things started to sour it said that if you receive a lot of money you become crazy that's a fact i saw the direct starting with buying a flat after you bought. renting your in the south of france it's probably unfamiliar euros week everything becomes like extravaganza so i started to treat me like a star he was treating other people very bad xavier resigned april twentieth levon he says he was only two point five million dollars and to ensure he played he had more than two hundred thirty thousand confidential emails downloaded from the company server on to a hard drive. again there were a lot of money involved. the a

take in the saudi national petro chemical company s.a.b. i.c. we reported that last week so saudi officials they indicated to the wall street journal that the initial public offering for aramco is still planned it's just now delayed until two thousand and twenty one so how about this for a footnote the journal also reports that analysts that bernstein research used the newly available data to calculate a one point five trillion.

oil company doing a internal local deal with the biggest petro chemical manufacturer maker in saudi arabia their number two world why they want to become the number one petrochemical producer in the world but you know what foreign investment will be the key and f.b.i. foreign direct investment but get this has gone down from two thousand and eight forty billion dollars of investment in saudi arabia from foreigners foreign companies foreign countries down to one point four billion in two thousand and seventeen so that's going to be a problem and shogi the way they treat women there's a new report out from amnesty international that despite the progress with women they could drive cars they could be seen in public but guess what this still being imprisoned this still being tortured and sexually assaulted in those prisons says amnesty international so publicly owned companies are going to think hey do we want to be associated with m.d.s. and his policies it's funny how you know directing murder has a negative influence on people sometimes steve while there is a fair bit of competition

year with aramco there was a big deal that the sixty nine billion dollar purchase of sabich which is a petro chemical company also under the saudi arabian state but look they just got a whole infusion of cash and a lot of people through saying there are critics out there not only criticizing the things on the political side like to criticize like bad behavior politically but also they're saying that this is vastly overrated the whole chase after these bonds have been that actually it's inflated but anywhere you turn it one hundred billion dollars which is absolutely incredible for the saudis yes hard to believe that it's not inflated and when you do have someone like jamie dimon coming out though and kind of as you said pumping the tires on this thing gives it a little more credence i guess to investors but all of this kind of playing into the saudi crown prince mohammed bin solomon's plan he wants to defer diversify he says the saudi economy when the nation off of oil dependence we know he's been doing that a lot of it's been happening in silicon valley is trying to get heavily into the tec

it's a subsidiary of the centerpiece of saudi crown prince mohammed bin vision 2030 he wants to expand the petro chemicals business instead of the kingdom's heavy reliance on oil sales motif is so influential in port arthur that bill tiva security sent a policeman to stop us from filming they even called the police to hold us until the very question why journalists were filming their facilities. despite tight control over media and any opinion which doesn't fall in line with that of the kingdom. efforts to privatized had been a hard sell at home. with very little accountability of the ruling family radical changes are viewed with suspicion by many ordinary saudis. one of the major objections by people in the kingdom was their fear that the money would go into the pockets of the royal family rather than be used in a transparent way to provide government services to the people in other words waste fraud and mismanagement are a concern on the part of the public they're also concerned by foreigners i think the conference is trying to create an environment conducive to foreign investment bu

to expand the petro chemicals business instead of the kingdom's heavy reliance on oil sales. so influential in port arthur goodwill tiva security sent a policeman to stop us from filming they even called the police to hate us until the very question why journalists were filming their facilities. despite tight control over media and any opinion which doesn't fall in line with that of the kingdom. efforts to privatized had been a hard sell at home. with very little accountability of the ruling family radical changes are viewed with suspicion by many ordinary saudis. one of the major objections by people in the kingdom was their fear that the money would go into the pockets of the royal family rather than be used in a transparent way to provide government services to the people in other words waste fraud and mismanagement are a concern on the part of the public concerned by foreigners i think the conference is trying to create an environment conducive to foreign investment but events things keep happening questions keep getting raised that make that difficult. geo political powe

to expand the petro chemicals business instead of the kingdom's heavy reliance on oil sales. so influential in port arthur goodwill tiva security sent a policeman to stop us from filming they even called the police to hold us until they could question why journalists were filming their facilities. despite tight control over media and any opinion which doesn't fall in line with that of the kingdom. efforts to privatized had been a hard sell at home. with very little accountability of the ruling family radical changes are viewed with suspicion by many ordinary saudis. one of the major objections by people in the kingdom was their fear that the money would go into the pockets of the royal family rather than be used in a transparent way to provide government services to the people in other words waste fraud and mismanagement are a concern on the part of the public concerned by foreigners i think the conference is trying to create an environment conducive to foreign investment but events things keep happening questions keep getting raised that make that difficult. geo political po

is when you know gold window was closed in the us and we started the petro dollars that the saudis threaten to stop pricing oil in dollars they immediately deny that they had said this to reuters do you believe this is a manageable in the cards at some point how do you see that unfolding dominic. womb x. you've got me i'm not really you know ferrety on saudi arabia and its money tree dealings but for the moment the saudi regime needs the usa so. i mentioned they're pretty ally to each other but you know what the saudi regime wants and the rest of the saudi people want not necessarily the same thing yeah but once again the saudis are really talking down the dollar they are selling a lot of energy oil products to china and once again you've got this axis emerging of these other asian countries that are good trying to get out of the us dollar they have been really saying nasty things about the dollar the us politically wants to have them held accountable for things like nine eleven and they want to take them to court on various other issues so the there's a lot of free song now between the us

show is leading the race to unseat president petro poroshenko whoever wins the second round one off will inherit a deadlocked conflict in the east with russian backed faces now into its fifth year the war has hurt ukraine's most economically important region drained public resources and exhausted voters and there's no end in sight now to zero as jonah hole reports now from the city of mary a pole where the conflict is never far away. in ukraine's war zone a new breed of entrepreneurs. alexi used his disability payout as an injured veteran to set up a pizza business. being given to motivated people are happy to spend their money rather than save it because they know anything can happen at any moment. he's not particularly enthusiastic about the upcoming presidential election. and back. because of their spinelessness it took volunteers to protect this country where the leadership was too weak to protect it it's all soldiers like alexi from the port city of mariupol formed the hours of but talon in two thousand and fourteen famous for preventing russian backed separatists from extending the

so the petro dollar the start of the early seventy's you had a lot of us billionaires become billionaires in the banking sector and also in the technology sector but the relative strength of the saudi billionaires was a lot stronger the saudi billionaires around it's now multi-trillion dollar behave myth and so those billionaires have been getting billion area richer faster than the us billionaire so saudis been happy because they get the you know it's all about ego right so there you go for a stroke bigger than the americans oligarchs then the chinese oligarchs enter the picture and they say wait a minute we want to have our you go strong in a credible way so the saudis are saying well ok we're the king of the roost our billionaires are the biggest billionaires of all let's try to squeeze the us in favor of china and again it's not like that they're not an ally i think that would be a mistake every single nation on earth every single nation is run that's what happens power corrupts and absolute power corrupts even more but so we're not talking about that we're just talking about the actu

to come on counting the cost it's bigger than apple alphabet and amazon combined we take a dive into saudi aramco is financial. but first an actor who once played the president of ukraine and a hit t.v. show is leading the race to unseat president petro poroshenko whoever wins the second round one off will inherit a deadlocked conflict in the east with russian backed faces now into its fifth year the war has hurt ukraine's most economically important region drained public resources and exhausted voters and there's no end in sight now to zero as jonah hole reports now from the city of mary a poll where the conflict is never far away. from cranes war zone a new breed of entrepreneurs. alexi used his disability payout as an injured veteran to set up a pizza business. being given a motivator in war people are happy to spend their money rather than save it because they know anything could happen at any moment. he's not particularly enthusiastic about the upcoming presidential election. and back. because of their spinelessness it took volunteers to protect this country where the leadership was t

dollar of course that goes back to saudi arabia saudi arabia seems like they're a completely in flux 1st of all they are strong to sell around that big state oil company they are not able to sell it and it seems as though they're desperate to sell it because they got a huge debt problem and that's not happening there got a lot of political shenanigans going on and they're being revealed all kinds of atrocities are being performed by an oversight and overseen by the leadership there and i know that you know politics is something not necessarily what you look at when you look at these markets but. are we at kind of in historically speaking when you talk about date dollars ation are we also maybe at a point d. colobus nation and instead of going with this globalized world economy that we've been in for since world war 2 where it's back to more of a mercantile list every country for south mentality absolutely i mean on the a rim coo comment there is you don't close the desert bar met simmons joan brings to the forum or perhaps you don't really have the reserves that the u.s. would claim

to recycle those petro dollars into our debt markets because we're at an unsustainable level at one point one trillion for this year and this is a non recessionary year. thank you so much former pentagon official michael maloof and david many of the many financial company thank you so much for your time here. thank you. and now to break down how all of this will affect other producers we welcome aarti correspondent alex mahela dish. so with all the blacklist on the iranian oil we see the opec oil producers and others are proceeding cautiously with their reactions what can we expect. well let's see what we're seeing right now talk about what we're seeing right now and that's people like you and me and our viewers who are driving cars they've seen the numbers jump are ready you go to the gas station everything's got a little bit more expensive and this is something that we are going to see happen over the next few months and it's something that we've seen about six months ago this is the biggest spike in the six months so we're talking according to our b c capital markets they're sayi

to come on counting the cost it's bigger than apple alphabet and amazon combined we take a dive into saudi aramco is financial. but first an actor who once played the president of ukraine and a hit t.v. show is leading the race to unseat president petro poroshenko whoever wins the second round run off will inherit a deadlock conflict in the east with russian backed faces now into its fifth year the war has hurt ukraine's most economically important region drained public resources and exhausted voters and there's no end in sight now to zero as jonah hole reports now from the city of mary a pole where the conflict is never far away. crane's war zone a new breed of entrepreneurs. alexi used his disability payout as an injured veteran to set up a pizza business. being given a motivator in war people are happy to spend their money rather than save it because they know anything can happen at any moment. he's not particularly enthusiastic about the upcoming presidential election. and back. because of their spinelessness it took volunteers to protect this country where the leadership was too weak

to expand the petro chemicals business instead of the kingdom's heavy reliance on oil sales. is so influential in port arthur goodwill tiva security sent a policeman to stop us from filming they even called the police to hold us until they could question why journalists were filming their facilities. despite tight control over media and any opinion which doesn't fall in line with that of the kingdom. efforts to privatized had been a hard sell at home. with very little accountability of the ruling family radical changes are viewed with suspicion by many ordinary saudis. one of the major objections by people in the kingdom was their fear that the money would go into the pockets of the royal family rather than be used in a transparent way to provide government services to the people. in other words waste fraud and hispanic front are a concern on the part of the public they're also concerned by foreigners i think the conference is trying to create an environment conducive to foreign investment but events things keep happening questions keep getting raised that make that difficult