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GLOBAL FIGHT AGAINST TERRORISM FUNDING

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Arfada Petroleum

November 13, 2020 Business Sector

Known Also As: Arfada Petroleum Private Joint Stock Company; Arfada; Arfada Petroleum Company JSC; Arvada Petroleum Company JSC;


Country: Syria;


Address: Mashroua Dummar, Lot No. 13, Building 12/2, Damascus, Syria;


Registration Number: 18394 (Syria);


Organization Established Date: 24 Apr 2018;


Website: https://www.arfada.com/;


Activities:
OFAC designated Arfada Petroleum Private Joint Stock Company (Arfada) based in Syria, respectively, that has entered into substantial contracts with the Government of Syria to develop the Syrian oil sector. Arfada and Sallizar together hold an 85 percent ownership stake in two joint ventures with the Syrian Ministry of Petroleum and Mineral Resources (Syrian Ministry of Petroleum) and the Public Establishment for Refining and Distribution (PERD) to establish two new oil refineries in Syria: Al-Resafa Refinery Company Private JSC and Coastal Refinery Company Private JSC. Al-Resafa Refinery Company Private JSC plans to establish, operate, and manage a heavy crude oil refinery in Syria’s Raqqa province. Coastal Refinery Company Private JSC plans to establish, operate, and manage a condensate oil refinery in Tartus, Syria. As parties for the Government of Syria, the Syrian Ministry of Petroleum and PERD hold the remaining 15 percent in each of the newly established refinery companies. Arfada and Sallizar have further reached an agreement with the Syrian Ministry of Petroleum and PERD to develop and expand the Tartus oil terminal.


The Syrian Ministry of Petroleum is a government entity that oversees the country’s oil and natural gas sectors. It sets the policy priorities and coordinates the efforts of the state-led companies that operate in the sector. In 2009, PERD was established by the Syrian Ministry of Petroleum to oversee and regulate the refining and distribution of oil products in Syria, and to act as the parent company of all state-owned refineries and oil distribution companies. PERD oversees the operations of the Banias Refinery Company and the Homs Refinery Company, which were identified by OFAC as part of the Government of Syria in 2014.


Arfada and Sallizar were designated pursuant to E.O. 13582, “Blocking Property of the Government of Syria and Prohibiting Certain Transactions With Respect to Syria,” for materially assisting, sponsoring, or providing financial, material, or technological support for, or goods or services in support of, the Government of Syria. Arfada and Sallizar were also designated today pursuant to the Caesar Act for knowingly providing significant financial, material, or technological support to, or knowingly engaging in significant transactions with the Government of Syria. Arfada is additionally being identified for being owned in the aggregate, directly or indirectly, 50 percent or more by OFAC designated Muhammad al-Qatirji and his brother Hussam Bin Ahmed Rushdi al-Qaterji (Hussam al-Qaterji), who was designated today by OFAC. OFAC identified the Syrian Ministry of Petroleum and PERD as part of the Government of Syria as set forth in E.O. 13582 and the Syrian Sanctions Regulations, 31 C.F.R. Part 542. The Al-Resafa Refinery Company Private JSC and Coastal Refinery Company Private JSC were identified for being owned in the aggregate, directly or indirectly, 50 percent or more by Arfada, Sallizar, and PERD.

At this moment, no connections were found with this entity.

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