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INVITATION FOR SHAREHOLDERS TO ATTEND THE EXTRAORDINARY GENERAL MEETING ON SUNDAY 06/05/2018<p><a href="/EN/MediaCenter/News/Documents/Proxy%20form%20EGM%20-%202018.pdf" target="_blank">​Proxy Form - click to download</a></p>WOQOD Shareholder Invitation4/22/2018 10:00:00 PM
“WOQOD” Inaugurates New Salata Petrol Station<p>​</p><p style="text-align:justify;"><strong>Doha: 19 March, 2018</strong> - As part of the company's ongoing expansion plans to be able to serve every area in Qatar, and in line with its commitment to meet the fuel and energy needs of the country, Qatar Fuel "WOQOD" opened New Salata petrol station on 18th  March 2018, and by this increasing it's network of various petrol stations to 61. </p><p style="text-align:justify;">WOQOD's CEO, Eng. Saad Rashid Al Muhannadi, said: "WOQOD aspires to expand its petrol station network in the country to meet the rising demand for petroleum products and achieve the goal of providing customers with access to best-in-class products and services at their convenience and comfort. WOQOD is currently engaged in 29 petrol station projects, most of these projects are expected to be operational this year."</p><p style="text-align:justify;">With the addition of New Salata petrol station, Woqod's branded stations network increased to 48. New Salata is spread over an area of 9,634.43 square meters and offers round-the-clock services to residents of New Salata area, includes Sidra convenience store, auto wash facility, auto repair, tire services and sale of LPG cylinders in addition to sale of gasoline and diesel products.</p><p style="text-align:justify;">The station is equipped with WOQOD's unique RFID based electronic payment service (WOQODe) that offers many benefits, especially shorter filling time.</p><p style="text-align:justify;">WOQOD is sincerely grateful to all the public and civil authorities that contributed to the completion of this project. </p>Qatar Fuel "WOQOD" opened New Salata petrol station on 18th March 2018, and by this increasing it's network of various petrol stations to 61.3/28/2018 10:00:00 PM
Chairmans’ Message<p>​</p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">Greetings….</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">I am pleased to welcome you all to this Annual General Meeting of Qatar Fuel (WOQOD) on behalf of myself and my fellow Board members, and I have the pleasure to present to you the 15<sup><font size="3">th</font></sup> <span style=""><font size="5"> </font></span>Annual Report of the Board of Director, comprising a brief review of the major performance indicators of company activities, operations and projects along with the financial results for the year 2017, and WOQOD future phased and strategic plan. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">As we all know, the year 2017 witnessed an oppressive blockade being launched against Qatar with the purpose of obstructing the extensive development which our State is currently witnessing.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">In spite of the blockade, Qatar’s economy has proved its invincibility and resilience, and continues to out-perform the targeted growth rates, thanks to the sensible policies of the state under the leadership of His Highness the Emir. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">The State achieved good growth rates that was positively and favorably reflected in the State rating (as per international rating agencies), remaining at high level, ensuring continued positive outlook on the part of international institutions. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">As for WOQOD, the company has been able to steadily move ahead with the implementation of the portion it shoulders within the overall scope of the sustainable nationwide comprehensive development plan. We took the necessary measures to procure the products we used to receive from some of the blockade countries, from alternate sources. Necessary means of logistic support and alternate foreign contractual arrangements with favorable terms were already in place, enabling smooth continuous flow of these product and materials into the State. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">During 2017 the company has pursued its efforts for consolidating its core activities of the distribution and marketing of Gas & Petroleum Products along with associated activities throughout the State. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;line-height:115%;"><span style="color:windowtext;line-height:115%;font-size:14pt;"><font face="Calibri">All performance indicators witnessed significant increases. To achieve this, WOQOD had availed all the requisite means of logistic support and infrastructure projects, as detailed in the Board of Directors Report.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">The company has an ambitious plan for increasing it’s market stake for distribution and transportation of petroleum products, natural gas, bitumen, ship bunker fuel, and other products.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font face="Calibri"><font color="#000000">This would be achieved through the implementation and operation of various projects, and concluding the necessary contracts and agreements relevant to these activities, with the support of quality systems, modern technology systems, as well as the introduction of an industry standard health, safety, security and environmental rectification/preservation system/measure.<span style=""><font size="5">   </font></span></font></font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">As regards fuel stations, arrangements for adding 30 new fixed and mobile stations were already in place in order to achieve the target of 120 gas station by the year 2020.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">With respect to company financial performance for the year ended 31 December 2017, despite the blockade and the new price margins, thanks to the efforts exerted towards the implementation of efficiency and cost optimization plan which yielded very excellent results. WOQOD group net profit (excluding minority rights) amounted to 964 Million Riyals, compared to 883 Million Riyals for the year 2016. Return on a share amounted to 9.7 Riyals compared to 8.9 Riyals for last year.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:11.35pt 0in 0pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">Considering the above financial results and the need for major capital expenditures that have been planned for 2018 and beyond, the Board of Directors is pleased to recommend a distribution of cash dividends of QR 795.404.611 million, representing 80% of the nominal paid-up capital. This equals a distribution of QR 8 per share.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:11.35pt 0in 0pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">In conclusion, I would like to take this opportunity to express my profound gratitude, thanks, appreciation to His Highnesses Sheikh Tamim Bin Hamad Al-Thani, the Emir, for his unfailing continuous support, and wise guidance to WOQOD, which has had the greatest impact on the company success and prosperity.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:11.3pt 0in 0pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">I would also like to thank Qatar Petroleum, Ministry of Municipality & Environment, and all the officials in the public institution for their sincere efforts in supporting the company's projects and providing all possible assistance.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:11.3pt 0in 0pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">Thanks also to our esteemed shareholders for the trust in us and loyalty to the company, and we hereby renew our commitment to serving shareholders interests and further developing their investments, and assure our commitment to implement and abide by all Governance and legal principles in all WOQOD activities, in conformity with our status as a sole distributor of oil and gas in the country. In acknowledgement of this we hereby submit WOQOD 2017 Governance Report Showing what we have done towards the implementation of the latest Governance Code Duly issued by QFMA and published in the Official Gazette on 15.05.2017. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:11.3pt 0in 0pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">Last but not least, we would like to express our appreciation to the employees of the company for their dedication, loyalty and cooperation, which is reflected in the outstanding financial results. I hope they will continue to deliver and render efforts for facing all challenges in pursuit of achieving company goals for the benefit of all.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font>I am pleased to welcome you all to this Annual General Meeting of Qatar Fuel (WOQOD) on behalf of myself and my fellow Board members, and I have the p3/26/2018 10:00:00 PM
CEO’s Speech before WOQOD Ordinary General Assembly Meeting Held on 25/03/2018<p>​</p><p style="text-align:justify;">Our honored shareholders,</p><p style="text-align:justify;">I'm pleased to present to you WOQOD achievements during the year 2017 along with its future plans and projects for the following period.</p><p>Despite the difficulties and challenges the company has been able to achieve good results. Through persistence, determination and collective effort we were able to stop the income downward trend and reverse the trend pushing the indicator up again. This achievement was aided by the increase of sales in general, enhancement of the efficiency in company operations, and cost reduction pursuant to a multi initiative comprehensive optimization policy which is being currently implemented in a phased manner.</p><p style="text-align:justify;">We are hopeful that, this policy will yield fruits in the very near future.</p><p style="text-align:justify;">I would like to summarize these achievement as follows:</p><p style="text-align:justify;"> </p><h2><span style="text-decoration:underline;"><strong>First: </strong></span></h2><h2><span style="text-decoration:underline;"><strong>Operation</strong></span></h2><p>The sales of petroleum products for the year 2017 realised a 6% increase from the year 2016. It is worth noting that the sales of jet fuel alone has witnessed a 10% increase due to Qatar Airways flights increase.</p><p style="text-align:justify;">Retail sales of petroleum products increased by 26% from the sales achieved in the year 2016. The increase is attributable to the opening of new fuel stations. WOQOD Stake of the retail market increased from 48% to 58%. We shall exert our utmost efforts to increase our stake to 85% by the beginning of the year 2020.</p><p style="text-align:justify;"><strong> </strong></p><p style="text-align:justify;"><strong>Bitumen</strong>: </p><p style="text-align:justify;">Bitumen and bituminous products sales increased by 275% from the sales achieved in the year 2016. This resulted in the increase of WOQOD stake of the local market from 60% to 90%.</p><p>To be capable of supplying these quantities, WOQOD doubled the number of the product transport vessels and developed the other means of logistic support, rendering them adequate to meet the requirements of increased distributed quantities.</p><p> </p><p style="text-align:justify;"><strong>Ship Bunker Fuel</strong>: </p><p style="text-align:justify;">The sales of bunker fuel witnessed an increase equivalent to 10 times of the sales achieved in the year 2016. WOQOD commenced the "ship-to-ship" bunkering in June 2017, in collaboration with Qatar Petroleum, from RALF bunkering facility owned by Qatar Petroleum.</p><p style="text-align:justify;"><strong> </strong></p><p style="text-align:justify;"><strong>LPG:</strong></p><p style="text-align:justify;">Sales increased by 27% and cylinder sales increased by 7%. The company is planning to stop the use of steel cylinders, launching promotional offers for SHAFAF cylinders.</p><p style="text-align:justify;"> </p><p style="text-align:justify;"><strong>Natural Gas</strong>:</p><p style="text-align:justify;">WOQOD is supplying natural gas to the factories located in the new industrial area, and is also operating a station for Compressed Natural Gas (CNG) Station. CNG sales increased by 22% from the sales achieved in the year 2016.</p><p style="text-align:justify;"><span style="text-decoration:underline;"><strong> </strong></span></p><p style="text-align:justify;"><span style="text-decoration:underline;"><strong>Second:</strong></span></p><p style="text-align:justify;"><strong>Key Achievements & Major Initiatives:</strong></p><p>Fuel Stations:</p><ul style="list-style-type:disc;"><li>WOQOD operated fuel service stations amounted to 58 stations in the year 2017, where 6 new stations were added. WOQOD set out an ambitious plan aiming at doubling the number of company operated stations within 3 years to reach 120 stations by the year 2020, where about 30 stations will be completed and operated within the (12) months period, including 10 mobile stations.</li><li>WOQOD continued with the expansion works for a number of existing stations, by introducing new activities or enhancing the efficiency of the fueling system and equipment.<br><br>Furthermore WOQOD introduced means of modern technology to the fueling operations, to provide the highest service standards to the customers. As part of such endeavors WOQOD has introduced electronic payment through Point of Sale (POS) using debit and credit cards. WOQOD also expanded by 134% compared to the year 2016, WOQOD automated system providing fueling services to individuals, companies, and government entities, with the highest standards of accuracy and reliability.<br><br>The system is capable of providing a comprehensive and final solution to the hazards posed by conventional fueling.</li></ul><h1 style="text-align:justify;"><span style="text-decoration:underline;"><strong>Third: </strong></span></h1><h1 style="text-align:justify;"><strong>Marketing Activities</strong></h1><p style="text-align:justify;">The sales of Sidra convenience store and other non-petroleum activities increased by 11%. New oils and lubricants brands were introduced as per the requirements and recommendations of the vehicle manufacturers. These included, Castrol, Shell and Total oils. Car dry clean services has also been introduced in some stations. </p><h1 style="text-align:justify;"><span style="text-decoration:underline;"><strong>Fourth:</strong></span></h1><h1 style="text-align:justify;"><strong>Subsidiary Companies</strong></h1><p style="text-align:justify;"><strong>Vehicle Technical Inspection (FAHES):</strong></p><p>The income of company subsidiary FAHES amounted to 77.9 Million Riyals with 5.8% increase above the income realized in the year 2016.</p><p style="text-align:justify;">Technical inspection centers amounted to 9 centers by the end of the year 2017. As of now, the centers amounted to 10 including three mobile centers. As to future centers, tender has been issued for Al-Mazrouaa Center, and a study for building a new center at Madinat Mowater is currently under review.</p><p style="text-align:justify;"><strong>WOQOD Marine:</strong></p><p>The performance of the company witnessed a significant improvement where the company income increased to 80 Million Riyals earned from chartering company owned vessels. The rate of vessel operation increased by 14% reaching 92% in the year 2017 compared to 78% in the year 2016.</p><p><strong>Qatar Jet Fuel (QJET)</strong></p><p>Company subsidiary QJET realized a net income (inclusive of minority rights), of 329.9 Million Riyals in the year 2017, compared to 229.8 Million in the year 2016, with the increase of 43%. Increase of sales, cost optimization policy and the reduction of export allowance have the greatest impact on the income increase.</p><p>And last and not the least, I would like to convey my profound thanks and appreciation to Mr. Ahmed Saif Al Sulaiti, Chairman of the Board of Directors and the respected Board Members for their prudent guidance and continuous support to the company.</p><p>Our thanks are also due to all government official, public and private institutions and to our honored shareholders, and to WOQOD employees, for their significant efforts in serving and developing the company.</p><p>We vow to exert more efforts and deliver our best to achieve company future objectives.</p><p>Thank You.</p>I’m pleased to present to you WOQOD achievements during the year 2017 along with its future plans and projects for the following period.3/26/2018 10:00:00 PM
Dividend Distribution Announcement<p>​Dividend distribution for 2017 and previous years.</p>​Dividend distribution for 2017 and previous years.3/24/2018 10:00:00 PM
Invitation to Attend the Annual General Meeting<h3>​<a href="/EN/MediaCenter/News/Documents/Proxy%20form%20-%202018.pdf" target="_blank">​Proxy Form - click to download​​​</a></h3>WOQOD Shareholder Invitation3/7/2018 10:00:00 PM
Sierra Leone Minister of Energy visits WOQOD LPG Plant​HE Mr. Henry Olufemi Macauley, Minister of Energy in the Republic of Sierra Leone, visited Qatar Fuel “WOQOD” LPG filling and distribution plant on Thursday 08 February 2018, accompanied by delegates from the Ministry of Energy & Industry in Qatar, headed by Eng. Ali Al Amri, and met Eng. Naja Mahdi Al-Ahbabi, Gas Operations Manager, and his crew.<br> <br>During the presentation, Eng. Naja Mahdi Al-Ahbabi has shared the WOQOD experience in LPG distribution and the introduction of Shafaf (composite) cylinders to the Qatar market.HE Mr. Henry Olufemi Macauley, Minister of Energy in the Republic of Sierra Leone, visited Qatar Fuel “WOQOD” LPG filling and distribution plant on Th3/5/2018 10:00:00 PM
WOQOD Net Profit for 2017 Amounted to 964 Million Qatar Riyals<p>WOQOD Chief Executive Officer, Engineer Saad Rashid Al-Muhannadi announced that Qatar Fuel (WOQOD) Board of Directors, chaired by Mr. Ahmed Seif Al-Sulaiti, convened its annual meeting at 01:30 pm. on 28 February 2018, In WOQOD Tower, West Bay. The Board reviewed the Financial results achieved by the company during the fiscal year ended 31 December 2017 and approved the said results.</p><p>Engineer Al-Muhannadi revealed that WOQOD net profits for the year 2017 (excluding minority interests) amounted to 964 Million Riyals, compared to 883 Million Riyals with an increase of Qr. 81 Million representing 9.2 % from the preceding year 2016. Return on share amounted to (9.7) Riyals, compared to 8.9 Riyals per share for the preceding year.</p><p>Ownership rights increased by about %1.1 to 7.4 Billion Riyals for the said year, compared to 7.3 Billion Riyals for the year 2016.</p><p>Engineer Al-Muhannadi added that WOQOD realized this good result in net profit increase despite substantial changes and huge reduction of its margins for distribution of fuel product during the said year, thanks to the efforts exerted towards the increase of fuel sales in general, in addition to the measure taken for costs reduction through a multi- initiative integrated cost optimization policy being implemented in phased manner, and is expected to yield results in the near future.</p><p>Engineer Al-Muhannadi further announced that, in line with the financial results achieved, the Board issued a recommendation included in the agenda for the Annual General Assembly Meeting to be convened in the evening of the 25th of March 2018 for distribution of dividends amounting to Qatari Riyal 8 per Share, resulting in total dividend payout of  Qatari Riyal 795,404,611, equivalent to 80 % of the nominal paid capital. The recommendation has taken into account the present liquidity status and future financing requirements for capital projects approved for the year 2018, and thereafter.</p><p>Engineer Al-Muhannadi went on to say that, the Board has reviewed and approved the current and future projects intended for implementation by the company in support of the comprehensive country development endeavors. Fuel Service stations currently operated by WOQOD amounted to 58 stations, where 4 permanent station were added during the year 2017 in Al-Mashaf, Bu Nakhla, Um Ghuailena and Al-Khor, in addition to 2 mobile stations in Galyha and Al – Gharafa.</p><p>Engineer Al-Muhannadi indicated that WOQOD has an ambitious plan for increasing its stations to 120 stations (inclusive of 10 mobile stations) within a period of 3 years, where about 30 stations will be completed and operated within  the forthcoming (12) months period. The company is also planning to increase the number of dispensers within the currently operational stations by 59% within the year 2018, and will continue with the same increase rate within the following years 2019 and 2018 in order to reduce the vehicle congestion within petrol stations resulting from the decommissioning of many private stations.</p><p>He further emphasized that WOQOD in pursuit of its role for serving the country and the community, regardless of the cost value and profit and loss considerations, would not hesitate to build fuel stations on any location and at any time in case of availability of land and viability of the project, </p><p>He further maintained that WOQOD and its affiliated companies intend to implement various other vital projects in the forthcoming period. These include Bitumen Facilities Expansion Project aiming at supporting and supplying state roads and projects with their requirements of asphalt products that conforms to the highest international standards in the fields sustainability and durability of roads.</p><p>Phase (1) relating to PMB has already been completed and Phase (2) will be finalized during the 3rd quarter of this year 2018. As regards the precautionary measures undertaken by WOQOD to face the negative repercussions of the blockade, and ensure continuity of company operations in relation to bitumen, oils and Lubricants imported from abroad, Engineer Al-Muhannadi pointed out that the company had carried out the necessary contractual arrangements with substitute sources, and provided appropriate means of logistic support, such as ships and other means. The company also co-ordinated with Qatar Petroleum in relation to the "Ship to Ship" bunkering operations from Ras Laffan Bunkering Facilities.</p><p>With regard to Lubricating Oils and Greases (whose sales were expanded significantly during the year 2017, through contracts concluded with the government and others, and by competing for winning government tender for their supply), the requisite quantities were provided through alternate supply sources.</p><p>Engineer Al-Muhannadi further announced that currently there are seven (7) operating Vehicle Technical Inspection Centers, where 2 new centers were added during the years 2017 at Al Khor and Al Wakair. A new mobile center has been added by the beginning of the year 2018 and Al-Shehaniya Center has also been added few days ago. At tender has been issued for Al Mazrouaa center during the first quarter of this year 2018, and a study is underway for construction of a new center at Madinat Al Mowater, thus the number of the technical inspection centers will rise to 8 centers.</p><p>As to company activities during the year 2017, Engineer Al-Muhannadi highlighted, the increase realized​ in terms of distributed products volume in comparison with that of the year 2016. Sales of the various types of fuel increased by 6%- Bitumen sales witnessed an increase percentage of about 275%, while ship bunker fuels sales increased by 10 times, whereas gas sales realized a 12.2% increase. Quantities of petroleum products retail sales increased by 26.1% while non-petroleum retail sales realized an 11% increase of revenue. FAHES revenue increased by 2.8%, and products transport distance (in kilometers) increased by 19.8% compared to the total travelled distance in 2016. </p><p>Engineer A-Muhannadi revealed that the Board has reviewed and endorsed the present and future plan and strategic priorities of the company for the period 2018-2022. The company has an ambitious plan for increasing its stake of the market for distribution and transportation of petroleum products, gas, bitumen, bunker fuel, oils and lubricants. This could be achieved through the implementation and operation of various projects, and concluding the necessary contracts and agreements relevant to these activities with the support of quality control systems, modern technology systems as well as the introduction of the highest health, safety and security systems together with the environmental maintenance/preservation.</p><p>Speaking about customer satisfaction, Engineer Al-Muhannadi indicated that WOQOD has introduced the point of Sale service (POS) in all WOQOD Fuel stations to enable customer use different credit cards in addition to the use of WOQODe car system which manages and operates vehicle fueling process in an automated, easy and hazard free manner.</p><p>The company was able to increase the sales of WOQODe system by 83.235 tags during the year 2017 with a 134% increase rate compared to the sales achieved during the year 2016. WOQOD is also planning to increase its non-petroleum activities, authorized under its Articles of Association by a rate of 15% per annum until the year 2022.</p><p>The company will go ahead with its ambitious plan for realizing the highest revenues for its shareholders. This will be achieved by developing and expanding its core business as well as supporting activities, and through continuing with its implementation of its systematic plan for cost optimization through a set of well thought initiatives and mechanisms, for achieving capability and efficiency in company operations, and availing the necessary support for the plan by introducing other necessary accounting and technical policies and procedures.</p><p>Engineer Al-Muhannadi reviewed the steps taken by WOQOD in the field of Qatarization, to which the company accorded paramount importance. He advised that the company has a strategic plan for recruiting and retaining capable and qualified Qatari employees and prepare them for joining the leadership team. A number of students are now pursuing their studies on a scholarships funded by the company, in specializations consonant with WOQOD business requirements. There are other Qatari employees undergoing training with the objective of recruiting them in different target positions. Qatarization amounted to 35% within the senior staff category, and the vast majority of the higher management team are from Qatari competencies.</p><p>As to corporate social responsibility, Engineer Al-Muhannadi indicated that WOQOD was able to reach out to all customers in the remote areas, thereby giving effect to its social responsibility in Qatar. The company also sponsored a number of national functions such as Qatar National Day. </p><p>Emphasizing that, the company management and Board of Directors will exert all efforts to realize company strategic vision for provision the best services to the country, the citizens and the residents, Engineer Al-Muhannadi thanked all concerned parties for their unfailing support to WOQOD in furtherance of the realization of its objectives and the implementation of its vital projects.</p>The Board reviewed the Financial results achieved by the company during the fiscal year ended 31 December 2017 and approved the said results. Enginee2/28/2018 10:00:00 PM
WOQOD Participates in Qatar’s 7th National Sports Day<p>​​As part of Qatar's 7th National Sports Day, Qatar Fuel (WOQOD) hosted a health awareness event highlighting the importance of sports and healthy living at the company's headquarters. The event had a large employee turnout from various departments of WOQOD.</p><p>WOQOD's sports day celebration came as part of the company's ongoing Corporate Social Responsibility efforts to promote well-being amongst its staff. The company believes that investing in its human capital help in boosting productivity levels while ensuring the creation of a sustainable workforce in line with Qatar's National Vision 2030 and its human development pillar.  </p><p>During the awareness event, WOQOD employees were enlightened about the importance of sports in their lives and its advantages. Participants also measured weight, height, and Body Mass Index (BMI) test, the event aims to raise awareness on adopting and maintaining a healthy lifestyle.</p>As part of Qatar's 7th National Sports Day, Qatar Fuel (WOQOD) hosted a health awareness event highlighting the importance of sports and healthy livin2/14/2018 10:00:00 PM
Qatar Fuel "WOQOD" Accepts debit and credit cards for fuel payments at its stations<p>​Mr. Saad Rashid Al-Muhannadi, the Chief Executive Officer (CEO) of WOQOD, stated that as part of WOQOD's commitment to provide outstanding services to its customers across the country and deliver payment facilitation, customers could now make fuel payment at WOQOD stations by using their bank debit and credit cards from 1st February, 2018. This new WOQOD POS card service will provide convenience and better fueling experience to customers at all WOQOD stations.</p><p>WOQOD's CEO, Mr. Saad Rashid Al-Muhannadi, also stated "This card payment solution initiative comes in line with WOQOD's ongoing efforts to emphasize its market leadership in innovative services and meeting customer's expectations. We are excited to collaborate with QNB, as our strategic partnership will provide a broader range of customers with industry-leading services and deliver hassle free and quick service at WOQOD stations". Mr. Muhannadi also stated that in the near future WOQOD is planning to add many petrol stations in the country, to serve the increasing demand. </p><p>The card payment services will be launched in collaboration with QNB.  Mr. Ali Al Kuwari, QNB Group CEO, said: "QNB is pleased to partner with WOQOD to provide its customers with an outstanding service and a more convenient way to pay. We operate the largest integrated payment network in Qatar built on innovation and service excellence which will provide WOQOD customers with a seamless experience."</p><p>WOQOD stations also offer exceptional services like auto care, auto wash facilities and SIDRA convenient stores to better cater to customer requirements.</p>As part of WOQOD's commitment to provide outstanding services to its customers across the country and deliver payment facilitation, customers could no1/31/2018 10:00:00 PM
WOQOD” Opens New Petrol Station in Al Egla (Lusail)<p>As part of the company's ongoing expansion plans to be able to serve every area in Qatar, and in line with its commitment to meet the fuel and energy needs of the country, Qatar Fuel "WOQOD" opened Al Egla petrol station on Sunday 21st January 2018, and by this increasing it's network of various petrol stations to 60. </p><p>WOQOD's CEO, Eng. Saad Rashid Al Muhannadi, said: "WOQOD aspires to expand its petrol station network in the country to meet the rising demand for petroleum products and achieve the goal of providing customers with access to best-in-class products and services at their convenience and comfort. WOQOD is currently engaged in 30 petrol station projects, most of these projects are expected to be operational this year."</p><p>With the addition of Al Egla petrol station, WOQOD's branded stations network increased to 47. Al Egla is spread over an area of 10,000 square meters and offers round-the-clock services to residents of Lusail area, includes Sidra convenience store, auto wash facility, auto repair, tyre services and sale of LPG cylinders in addition to sale of gasoline and diesel products.</p><p>The station is equipped with WOQOD's unique RFID based electronic payment service (WOQODe) that offers many benefits, especially shorter filling time.</p><p>WOQOD is sincerely grateful to all the public and civil authorities that contributed to the completion of this project.</p>As part of the company's ongoing expansion plans to be able to serve every area in Qatar, and in line with its commitment to meet the fuel and energy 1/24/2018 10:00:00 PM
WOQOD Board of Directors Approves Company Annual Budget for 2018 <div>​​​Engineer Saad Rashid Al Muhannadi, Qatar Fuel Chief Executive Officer announced that WOQOD Board of Directors duly chaired by Mr. Ahmad Saif Al Sulaiti, held its 6th meeting of the year 2017 at 01:30pm on Wednesday 20/12/2017 at WOQOD Head Office in WOQOD Tower – West Bay. The Board reviewed and approved company annual budget for the year 2018.</div><div>Mr. Al Muhannadi stated that, the budget included the anticipated key performance indicators for WOQOD Group in relation to the distribution and marketing of Petroleum Products and gas, as well as other activities of WOQOD and subsidiary companies during the year 2018, along with the pertinent operational costs and expenses.</div><div>Mr. Al Muhannadi pointed out that the capital expenditure budget has allocated (816) Million Qatari Riyals for spending on new projects to be established during the year 2018. He further elaborated that the Petrol Stations owned and operated by the company are currently 58 stations and the number is expected to rise to 59 stations by the end of the current year 2017. He added that WOQOD plans to complete and operate 15 additional stations in 2018 along with another 15 mobile stations to eliminate traffic congestions at Petrel Stations. Furthermore, he</div><div>maintained that tenders for construction of another 18 petrol stations will be awarded during the first quarter of year 2018, and that the company is planning to have up to 122 stations in place by the year 2022.</div><div>With regard to Vehicle Technical Inspection Centers Mr. Al Muhannadi stated that, there are 6 centers currently in operation, to which Al Shahaniya Center will be added in the beginning of the year 2018 and the tender for the construction of Al Mazrooua Center will be issued within the 1st quarter of the year 2018, and hence the number of the Centers will rise to 8 Centers.</div><div>Mr. Al Muhannadi further pointed out that WOQOD budget proposal included the purchase of two (2) new ships in support of the operation of its subsidiary WOQOD Marine Services. Moreover, the company is determined to effectively participate in petroleum products distribution, storage and marketing infrastructure projects in collaboration with the concerned parties. The budget also includes expenditure items for maintenance, asset integrity, health, safety and environment.</div><div>Mr. Al Muhannadi also announced that the Board has approved the current and future business plan and company strategic priorities during the period 2018‐2022, where the company has an ambitious plan for increasing its share in the market for distribution and transportation of petroleum products, gas, bitumen, bunker fuel, oils and lubricants through the construction and operation of the various projects required for these activities, together with the supporting Quality Management Systems, state ‐of‐ the‐ art IT systems and the highest health and safety standards, and environmental preservation measures.</div><div>The company intends to increase its stake in non‐petroleum activities provided for by its Articles of Association by 15% per annum until the year 2022, in addition to increasing the number of CNG stations to meet the requirement the comprehensive government plan up to the year 2022.</div><div>Mr. Al Muhannadi further emphasized that the company intends to carry on with its ambitious plan during the year 2018 to achieve the best returns for its shareholders through the performance of its activities and implementation of its projects, supported by a structured plan for cost optimization, through a studied mechanism for achieving efficiency in the company operations, and provision of the necessary support to the plan through the introduction of accounting and other technically specialized policies and procedures.</div><div>Finally, Mr. Al Muhannadi expressed his thanks and appreciation to all concerned parties for the support they have extended to WOQOD in its realization of its promising projects designed for the common good of the country, the citizens and shareholders. He particularly expressed his thanks and appreciation to Ministry of Interior, Ministry of Municipality and Environment and Qatar Petroleum.</div><div>                                                                End</div><p>​​​</p>20/12/2017 at WOQOD Head Office in WOQOD Tower – West Bay, the Board reviewed and approved company annual budget for the year 2018.12/23/2017 10:00:00 PM
Qatar Fuel (WOQOD) participates in Influenza Vaccination Campaign, in cooperation with HMC<p>​<span style="font-size:12pt;line-height:107%;font-family:calibri, sans-serif;">As part of its social responsibility to promote the health and well-being of the community and to spread awareness among individuals and institutions, Qatar Fuel (WOQOD), in collaboration with Hamad Medical Corporation (HMC), organized an influenza vaccination campaign for its employees as the colder months approach. The event took place on Thursday, 7 December, 2017, at its headquarters in the WOQOD Tower in Doha.</span>​</p>As part of its social responsibility to promote the health and well-being of the community and to spread awareness among individuals and institutions,12/10/2017 10:00:00 PM
Announcement<p>​Our Dear Shareholders:</p><p>Qatar Fuel (WOQOD) is pleased to inform its shareholders that Qatar National Bank (QNB), including all its branches, is WOQOD's agent for distributing the annual dividends to the shareholders. The distribution of unpaid dividends for the years 2003 until 2016 will commence on Monday 20th November 2017.</p><p>Shareholders who wish to receive their uncollected dividend amounts in cash can visit any QNB branch and submit their Qatari identity document, and their NIN number. WOQOD's shareholders can also visit Shareholders Unit, QNB main branch, Grand Hamad street, in order to receive their due amounts or transfer the same to their accounts in QNB or with any local or international bank, subject to QNB terms and conditions.</p><p>For more information, please contact Shareholders Relations at WOQOD on the following number 4021-7777, or via email: customerservice@woqod.com.qa</p>Shareholders who wish to receive their uncollected dividend amounts in cash can visit any QNB branch11/21/2017 10:00:00 PM
WOQOD participates in blood donation campaign, in cooperation with HMC and Oryx-GTL<p>​​As part of its social responsibility to promote the health and well-being of the community and to spread the spirit of initiative among individuals and institutions, Qatar Fuel (WOQOD), in collaboration with Hamad Medical Corporation (HMC) and Oryx-GTL, organized a blood donation campaign for its employees, on Monday, 30 October, 2017, at its headquarters in the WOQOD Tower in Doha.​</p>Qatar Fuel (WOQOD), in collaboration with Hamad Medical Corporation (HMC) and Oryx-GTL, organized a blood donation campaign for its employees10/29/2017 10:00:00 PM
Qatar Fuel (WOQOD) Net Income Amounted to QR 643 Million for the Third Quarter 2017<p>Mr. Saad Rashid Al-Muhannadi, WOQOD Chief Executive Officer, announced that the Board of Directors of Qatar Fuel Company (WOQOD) chaired by Mr. Ahmed Saif Al-Sulaiti has, in its meeting No. 4 for the year 2017 duly held on 25.10.2017, approved the unaudited financial statements for the period ended 30 September 2017. The Board also reviewed the implementation process of the company's current and future projects and gave its recommendations thereto. </p><p>Mr. Al-Muhannadi confirmed that the net income (excluding minority interest) for the third quarter 2017 alone amounted to QR. 270 million as compared to QR. 237 million for the same period 2016, representing an increase of 14%. Similarly, the net income for the third quarter 2017 alone went up by 37% as compared to the second quarter 2017</p><p>Mr. Al-Muhannadi also confirmed that the net income for the WOQOD group (excluding minority interest) amounted to QR 643 million as compared to QR 777 million for the same period in 2016, with a decrease of QR 115 million representing (17.2%). The main reasons for the fall in earnings, as compared to the period ended 30 September 2016, is primarily attributed to the change in fuel margins and transportation tariff. </p><p>Mr. Al-Muhannadi mentioned that WOQOD is making all efforts to improve the results in future. He explained that WOQOD group has embarked on a number of cost optimization initiatives and, in spite of additional operating costs related to new stations, managed to reduce the cash operating expenses by 6% for the period ended September 2017, as compared to the same period last year. </p><p>In respect of the company's projects, Mr. Al-Muhannadi said that the number of petrol stations in operation under the company's ownership or management, including mobile petrol stations, has reached to 58. This includes six (6) petrol stations, including two mobile petrol stations, opened during the year 2017. In addition, thirteen (13) stations are under construction and twelve (12) under tendering and designing stage. WOQOD is planning to increase the number of petrol stations to 83 by the end of 2018 and 120 by 2022. Mr. Al-Muhanadi also stated that WOQOD is currently coordinating with the Ministry of Municipality and Environment for the allocation of more locations for petrol stations. </p><p style="text-align:justify;">With regards to FAHES centres, Mr. Al-Muhannadi confirmed that two (2) new centers started operation during the period to September 2017, and another station will be opened by the end of 2017. <span style="font-size:12pt;line-height:107%;font-family:arial, sans-serif;">With respect to the Bitumen Terminal expansion, Mr. Al-Muhannadi said that it is expected to be fully operational by the third quarter 2018.</span>​</p><h2><span style="text-decoration:underline;"><strong>Retail Activities:</strong></span></h2><p style="text-align:justify;">Retail activities include fuel sales from petrol station and non-fuel revenues, i.e. Sidra stores sales, car wash (manual and automatic), repair workshop, tyres, oil change and other services. Fuel & non-fuel sales grew by 25.5 % and 8.4% respectively compared to the same period last year.</p><p><span style="text-decoration:underline;"><strong> </strong></span></p><p><span style="text-decoration:underline;"><strong>Electronic Payment System "</strong></span><span style="text-decoration:underline;"><strong></strong></span><span style="text-decoration:underline;"><strong>WOQOD</strong></span><span style="text-decoration:underline;"><strong><em>e</em></strong></span><span style="text-decoration:underline;"><strong>" and Introduction of Credit and Debit Cards for Fuel Sales at Petrol Stations</strong></span></p><p style="text-align:justify;">WOQOD introduced the electronic payment system WOQODe in January 2016. The system works through an electronic Radio Frequency Identification (RFID) chip tag fitted in the vehicle's fuel tank. The number of tags installed during the period to 30 September 2017 reached 69,078 tags, representing an increase of 150% over the corresponding period 2016.</p><p>Mr. Al-Muhannadi also pointed out that WOQOD is in the process of accepting debit and credit cards for fuel sales at petrol stations by the end of this year 2017.</p><p style="text-align:justify;"><span style="text-decoration:underline;"><strong>Petroleum Products:</strong></span></p><p>The total sales volume of petroleum products (Diesel and Gasoline) for the period exceeded 4,024 million litres, with an increase of 2.5% for the period ended 30 September 2017 as compared to the same period last year. Jet fuel sales increased by <span style="text-align:justify;">11.5% to 3,315 million litres for the period ended 30 September 2017 as compared to the same period last year.  </span></p><p>In addition, Mr. Al-Muhannadi added that Bitumen sales increased by four times for the period ended September 2017, and that WOQOD Marine vessel occupancy rate increased by 12% for the period ended September 2017, driven by increased level of Bitumen and HFO Bunkering operations. On the other hand, LPG and Natural gas (CNG) sales for the period increased by 14% and 0.9% respectively.</p><p style="text-align:justify;">In the end, Mr. Saad Rashid Al-Muhannadi thanked the Chairman and members of the Board of Directors, shareholders and partners for their continued support and guidance to the company, and assured commitment of the Executive Management and employees to achieve greater success and objectives of the company.​</p><p></p><p>​</p>Mr. Saad Rashid Al-Muhannadi, WOQOD Chief Executive Officer, announced that the Board of Directors of Qatar Fuel Company (WOQOD) chaired by Mr. Ahmed 10/25/2017 10:00:00 PM
Qatar Fuel “WOQOD” Opens Al Egda New Service Station<p>​​​WOQOD has opened a new petrol station in Al Egda Al-Khor area on Wednesday 21 June 2017. The total number of petrol stations owned by WOQOD has reached 46 stations excluding mobile stations, which established in some other areas where private stations are closed or need to be required.</p>WOQOD has opened a new petrol station in Al Egda Al-Khor area on Wednesday 21 June 20176/21/2017 10:00:00 PM
Qatar Fuel (WOQOD) held the Extraordinary General Assembly Meeting<p>​​Qatar, Doha, June 6 2017,Qatar Fuel (WOQOD) held its Postponed Extra Ordinary General Assembly meeting, Chaired by Mr. Ahmed Saif Al-Sulaiti, Chairman of the Board of Directors, where certain provisions of the company Articles of Associations have been amended in line with the recent legal and substantive developments witnessed by the company, including requisites of Corporate Governance System, The following amendments has been approved:</p><ul><li>Exempting the state of Qatar, Qatar Foundation for Education, Science and Community Development, Qatar Investment Authority and Qatar Holding Company from the requirement for maximum limit of company shares ownership at 0.000333 of the share capital, currently equaling (33.140) shares.</li><li>Increasing the membership of the Board of Directors from 7 members to 9 members, by giving the National Retirement & Social Insurance Fund the right to appoint 2 more Board members, maintaining Qatar Petroleum right to appoint 3 members including the Chairman and the Vice Chairman, and also the General Assembly right to elect 4 members.</li><li>The amendments comprised a change in the mechanism for issuing resolutions in the Extra Ordinary General Assembly, where such mechanism has been unified to allow for the endorsement of the resolutions by simple majority instead of the 66% majority of the members present.</li><li>The timings for holding the two alternate Extra Ordinary General Assembly meetings have been amended, whereupon, the second meeting will be within 30 days from the date of the first meeting, and the third (last) meeting will be after 30 days from the date of the second meeting.</li><li>Amending Company Article of Associations by adding a new sub - article providing that Board Resolution by Circulation when duly signed by Board members is deemed as if it has been taken in a formally convened meeting.</li><li>Finally, Mr. Al-Muhannadi, CEO, pointed out that the amendments included rectification of the name of the entity representing the General Retirement & Social Insurance Authority to be the "Civil & Military Funds" of the General Retirement and Social Insurance Authority.​</li></ul><p><br></p>Qatar, Doha, June 6 2017,Qatar Fuel (WOQOD) held its Postponed Extra Ordinary General Assembly meeting, Chaired by Mr. Ahmed Saif Al-Sulaiti, Chairman6/6/2017 10:00:00 PM
Invitation Reminder - 3rd Extraordinary General Meeting 2017<p>​<span style="color:#444444;font-family:"segoe ui", segoe, tahoma, helvetica, arial, sans-serif;font-size:13px;">Shareholders to attend the 3rd Extraordinary General Meeting on Tuesday 06/06/2017</span></p>Shareholders to attend the 3rd Extraordinary General Meeting on Tuesday 06/06/20175/31/2017 10:00:00 PM
Qatar Fuel “WOQOD” organizes unannounced evacuation drill to prepare skilled employees for emergency situations<p>​​</p><p style="text-align:justify;"><strong>Doha-Qatar, 17</strong><strong><sup>th</sup></strong><strong> April, 2017 - </strong>Qatar Fuel "WOQOD" conducted an unannounced fire evacuation drill at WOQOD Tower in West Bay on 13<sup>th</sup> April, 2017<strong> </strong>to ensure employee preparedness and test the adequacy of its emergency systems.</p><p style="text-align:justify;"> The drill was conducted by all WOQOD Tower tenants including WOQOD, Oryx GTL and contractors personnel. The entire drill was supervised by the WOQOD Building Management System and involved active participation of more than 570 employees and contractors and the entire 30 floors of WOQOD Tower. <span lang="EN" style="text-decoration:line-through;"> </span></p><p style="text-align:justify;">The fire scenario took place on first floor of WOQOD Tower with an employee informing the concerned departments of fire sighting. The fire alarm was activated immediately and all WOQOD and ORYX staff and contractors responded and started the evacuation process through the staircases, where they gathered in the marked assembly points on the ground level, with security staff helping them to stand in safe locations until the building was marked safe to re-enter and the emergency situation was completely under control. </p><p style="text-align:justify;">The evacuation was completed in 14 minutes from the time of sounding off the alarm, till the last employee exited the tower and gathered in marked locations. WOQOD organized​ the mock drill to ascertain the response of all employees to major incidents, and provide individuals within the organization with an opportunity to develop their roles in emergency situations. The drill helped test the effectiveness and practice the implementation of emergency procedures in order to confirm capabilities for responding effectively to a major incident.</p><p style="text-align:justify;">During the exercise, employees had the chance to develop their skills appropriate to the role they may play in an emergency, identify areas for improvement and report on the effectiveness of the exercise as well as implementation of emergency procedures.</p><p style="text-align:justify;">Mr. Yousef Khalid Al-Jaber, WOQOD HSSE Manager said, "The exercise was conducted to raise awareness on the importance of quick response to events or incidents that could potentially risk the safety and security of our employees. It's imperative for all employees to be aware of the key evacuation procedures they need to follow in an emergency situation. Such drills ensure that employees are informed of the safety measures and know their roles and responsibilities, which help in the rescue effort during an actual emergency. WOQOD adopts the highest levels of employee safety initiatives and strictly adheres to the guidelines of Qatar's Civil Defense to ensure protection of all of its employees and contractors."</p><p style="text-align:justify;">WOQOD's management demonstrated leadership and commitment to employee welfare and safety by extending their continuous support through provision of resources and trainings that significantly contributed to a well-organized, safe and successful evacuation drill. </p><p>The exercise exhibited complete cooperation between all occupants of the tower including WOQOD's employees and management, staff of ORYX GTL and the Civil Defense for proper planning and execution of the safety program and the accurate functioning of the fire alarm and detection systems for emergency facilities installed <span lang="EN" style="font-size:12pt;line-height:107%;font-family:calibri, sans-serif;color:#222222;">within the tower. </span></p>Qatar Fuel "WOQOD" conducted an unannounced fire evacuation drill at WOQOD Tower in West Bay on 13th April, 2017 to ensure employee preparedness and t4/15/2017 10:00:00 PM

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INVITATION FOR SHAREHOLDERS TO ATTEND THE EXTRAORDINARY GENERAL MEETING ON SUNDAY 06/05/2018<p><a href="/EN/MediaCenter/News/Documents/Proxy%20form%20EGM%20-%202018.pdf" target="_blank">​Proxy Form - click to download</a></p>WOQOD Shareholder Invitation4/22/2018 10:00:00 PM424
“WOQOD” Inaugurates New Salata Petrol Station<p>​</p><p style="text-align:justify;"><strong>Doha: 19 March, 2018</strong> - As part of the company's ongoing expansion plans to be able to serve every area in Qatar, and in line with its commitment to meet the fuel and energy needs of the country, Qatar Fuel "WOQOD" opened New Salata petrol station on 18th  March 2018, and by this increasing it's network of various petrol stations to 61. </p><p style="text-align:justify;">WOQOD's CEO, Eng. Saad Rashid Al Muhannadi, said: "WOQOD aspires to expand its petrol station network in the country to meet the rising demand for petroleum products and achieve the goal of providing customers with access to best-in-class products and services at their convenience and comfort. WOQOD is currently engaged in 29 petrol station projects, most of these projects are expected to be operational this year."</p><p style="text-align:justify;">With the addition of New Salata petrol station, Woqod's branded stations network increased to 48. New Salata is spread over an area of 9,634.43 square meters and offers round-the-clock services to residents of New Salata area, includes Sidra convenience store, auto wash facility, auto repair, tire services and sale of LPG cylinders in addition to sale of gasoline and diesel products.</p><p style="text-align:justify;">The station is equipped with WOQOD's unique RFID based electronic payment service (WOQODe) that offers many benefits, especially shorter filling time.</p><p style="text-align:justify;">WOQOD is sincerely grateful to all the public and civil authorities that contributed to the completion of this project. </p>Qatar Fuel "WOQOD" opened New Salata petrol station on 18th March 2018, and by this increasing it's network of various petrol stations to 61.3/28/2018 10:00:00 PM423
Chairmans’ Message<p>​</p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">Greetings….</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">I am pleased to welcome you all to this Annual General Meeting of Qatar Fuel (WOQOD) on behalf of myself and my fellow Board members, and I have the pleasure to present to you the 15<sup><font size="3">th</font></sup> <span style=""><font size="5"> </font></span>Annual Report of the Board of Director, comprising a brief review of the major performance indicators of company activities, operations and projects along with the financial results for the year 2017, and WOQOD future phased and strategic plan. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">As we all know, the year 2017 witnessed an oppressive blockade being launched against Qatar with the purpose of obstructing the extensive development which our State is currently witnessing.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">In spite of the blockade, Qatar’s economy has proved its invincibility and resilience, and continues to out-perform the targeted growth rates, thanks to the sensible policies of the state under the leadership of His Highness the Emir. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">The State achieved good growth rates that was positively and favorably reflected in the State rating (as per international rating agencies), remaining at high level, ensuring continued positive outlook on the part of international institutions. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">As for WOQOD, the company has been able to steadily move ahead with the implementation of the portion it shoulders within the overall scope of the sustainable nationwide comprehensive development plan. We took the necessary measures to procure the products we used to receive from some of the blockade countries, from alternate sources. Necessary means of logistic support and alternate foreign contractual arrangements with favorable terms were already in place, enabling smooth continuous flow of these product and materials into the State. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">During 2017 the company has pursued its efforts for consolidating its core activities of the distribution and marketing of Gas & Petroleum Products along with associated activities throughout the State. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;line-height:115%;"><span style="color:windowtext;line-height:115%;font-size:14pt;"><font face="Calibri">All performance indicators witnessed significant increases. To achieve this, WOQOD had availed all the requisite means of logistic support and infrastructure projects, as detailed in the Board of Directors Report.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">The company has an ambitious plan for increasing it’s market stake for distribution and transportation of petroleum products, natural gas, bitumen, ship bunker fuel, and other products.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font face="Calibri"><font color="#000000">This would be achieved through the implementation and operation of various projects, and concluding the necessary contracts and agreements relevant to these activities, with the support of quality systems, modern technology systems, as well as the introduction of an industry standard health, safety, security and environmental rectification/preservation system/measure.<span style=""><font size="5">   </font></span></font></font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">As regards fuel stations, arrangements for adding 30 new fixed and mobile stations were already in place in order to achieve the target of 120 gas station by the year 2020.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">With respect to company financial performance for the year ended 31 December 2017, despite the blockade and the new price margins, thanks to the efforts exerted towards the implementation of efficiency and cost optimization plan which yielded very excellent results. WOQOD group net profit (excluding minority rights) amounted to 964 Million Riyals, compared to 883 Million Riyals for the year 2016. Return on a share amounted to 9.7 Riyals compared to 8.9 Riyals for last year.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:11.35pt 0in 0pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">Considering the above financial results and the need for major capital expenditures that have been planned for 2018 and beyond, the Board of Directors is pleased to recommend a distribution of cash dividends of QR 795.404.611 million, representing 80% of the nominal paid-up capital. This equals a distribution of QR 8 per share.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:11.35pt 0in 0pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">In conclusion, I would like to take this opportunity to express my profound gratitude, thanks, appreciation to His Highnesses Sheikh Tamim Bin Hamad Al-Thani, the Emir, for his unfailing continuous support, and wise guidance to WOQOD, which has had the greatest impact on the company success and prosperity.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:11.3pt 0in 0pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">I would also like to thank Qatar Petroleum, Ministry of Municipality & Environment, and all the officials in the public institution for their sincere efforts in supporting the company's projects and providing all possible assistance.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:11.3pt 0in 0pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">Thanks also to our esteemed shareholders for the trust in us and loyalty to the company, and we hereby renew our commitment to serving shareholders interests and further developing their investments, and assure our commitment to implement and abide by all Governance and legal principles in all WOQOD activities, in conformity with our status as a sole distributor of oil and gas in the country. In acknowledgement of this we hereby submit WOQOD 2017 Governance Report Showing what we have done towards the implementation of the latest Governance Code Duly issued by QFMA and published in the Official Gazette on 15.05.2017. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:11.3pt 0in 0pt;text-align:justify;line-height:115%;"><span style="line-height:115%;font-size:14pt;"><font color="#000000" face="Calibri">Last but not least, we would like to express our appreciation to the employees of the company for their dedication, loyalty and cooperation, which is reflected in the outstanding financial results. I hope they will continue to deliver and render efforts for facing all challenges in pursuit of achieving company goals for the benefit of all.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font>I am pleased to welcome you all to this Annual General Meeting of Qatar Fuel (WOQOD) on behalf of myself and my fellow Board members, and I have the pNews3/26/2018 10:00:00 PM421
CEO’s Speech before WOQOD Ordinary General Assembly Meeting Held on 25/03/2018<p>​</p><p style="text-align:justify;">Our honored shareholders,</p><p style="text-align:justify;">I'm pleased to present to you WOQOD achievements during the year 2017 along with its future plans and projects for the following period.</p><p>Despite the difficulties and challenges the company has been able to achieve good results. Through persistence, determination and collective effort we were able to stop the income downward trend and reverse the trend pushing the indicator up again. This achievement was aided by the increase of sales in general, enhancement of the efficiency in company operations, and cost reduction pursuant to a multi initiative comprehensive optimization policy which is being currently implemented in a phased manner.</p><p style="text-align:justify;">We are hopeful that, this policy will yield fruits in the very near future.</p><p style="text-align:justify;">I would like to summarize these achievement as follows:</p><p style="text-align:justify;"> </p><h2><span style="text-decoration:underline;"><strong>First: </strong></span></h2><h2><span style="text-decoration:underline;"><strong>Operation</strong></span></h2><p>The sales of petroleum products for the year 2017 realised a 6% increase from the year 2016. It is worth noting that the sales of jet fuel alone has witnessed a 10% increase due to Qatar Airways flights increase.</p><p style="text-align:justify;">Retail sales of petroleum products increased by 26% from the sales achieved in the year 2016. The increase is attributable to the opening of new fuel stations. WOQOD Stake of the retail market increased from 48% to 58%. We shall exert our utmost efforts to increase our stake to 85% by the beginning of the year 2020.</p><p style="text-align:justify;"><strong> </strong></p><p style="text-align:justify;"><strong>Bitumen</strong>: </p><p style="text-align:justify;">Bitumen and bituminous products sales increased by 275% from the sales achieved in the year 2016. This resulted in the increase of WOQOD stake of the local market from 60% to 90%.</p><p>To be capable of supplying these quantities, WOQOD doubled the number of the product transport vessels and developed the other means of logistic support, rendering them adequate to meet the requirements of increased distributed quantities.</p><p> </p><p style="text-align:justify;"><strong>Ship Bunker Fuel</strong>: </p><p style="text-align:justify;">The sales of bunker fuel witnessed an increase equivalent to 10 times of the sales achieved in the year 2016. WOQOD commenced the "ship-to-ship" bunkering in June 2017, in collaboration with Qatar Petroleum, from RALF bunkering facility owned by Qatar Petroleum.</p><p style="text-align:justify;"><strong> </strong></p><p style="text-align:justify;"><strong>LPG:</strong></p><p style="text-align:justify;">Sales increased by 27% and cylinder sales increased by 7%. The company is planning to stop the use of steel cylinders, launching promotional offers for SHAFAF cylinders.</p><p style="text-align:justify;"> </p><p style="text-align:justify;"><strong>Natural Gas</strong>:</p><p style="text-align:justify;">WOQOD is supplying natural gas to the factories located in the new industrial area, and is also operating a station for Compressed Natural Gas (CNG) Station. CNG sales increased by 22% from the sales achieved in the year 2016.</p><p style="text-align:justify;"><span style="text-decoration:underline;"><strong> </strong></span></p><p style="text-align:justify;"><span style="text-decoration:underline;"><strong>Second:</strong></span></p><p style="text-align:justify;"><strong>Key Achievements & Major Initiatives:</strong></p><p>Fuel Stations:</p><ul style="list-style-type:disc;"><li>WOQOD operated fuel service stations amounted to 58 stations in the year 2017, where 6 new stations were added. WOQOD set out an ambitious plan aiming at doubling the number of company operated stations within 3 years to reach 120 stations by the year 2020, where about 30 stations will be completed and operated within the (12) months period, including 10 mobile stations.</li><li>WOQOD continued with the expansion works for a number of existing stations, by introducing new activities or enhancing the efficiency of the fueling system and equipment.<br><br>Furthermore WOQOD introduced means of modern technology to the fueling operations, to provide the highest service standards to the customers. As part of such endeavors WOQOD has introduced electronic payment through Point of Sale (POS) using debit and credit cards. WOQOD also expanded by 134% compared to the year 2016, WOQOD automated system providing fueling services to individuals, companies, and government entities, with the highest standards of accuracy and reliability.<br><br>The system is capable of providing a comprehensive and final solution to the hazards posed by conventional fueling.</li></ul><h1 style="text-align:justify;"><span style="text-decoration:underline;"><strong>Third: </strong></span></h1><h1 style="text-align:justify;"><strong>Marketing Activities</strong></h1><p style="text-align:justify;">The sales of Sidra convenience store and other non-petroleum activities increased by 11%. New oils and lubricants brands were introduced as per the requirements and recommendations of the vehicle manufacturers. These included, Castrol, Shell and Total oils. Car dry clean services has also been introduced in some stations. </p><h1 style="text-align:justify;"><span style="text-decoration:underline;"><strong>Fourth:</strong></span></h1><h1 style="text-align:justify;"><strong>Subsidiary Companies</strong></h1><p style="text-align:justify;"><strong>Vehicle Technical Inspection (FAHES):</strong></p><p>The income of company subsidiary FAHES amounted to 77.9 Million Riyals with 5.8% increase above the income realized in the year 2016.</p><p style="text-align:justify;">Technical inspection centers amounted to 9 centers by the end of the year 2017. As of now, the centers amounted to 10 including three mobile centers. As to future centers, tender has been issued for Al-Mazrouaa Center, and a study for building a new center at Madinat Mowater is currently under review.</p><p style="text-align:justify;"><strong>WOQOD Marine:</strong></p><p>The performance of the company witnessed a significant improvement where the company income increased to 80 Million Riyals earned from chartering company owned vessels. The rate of vessel operation increased by 14% reaching 92% in the year 2017 compared to 78% in the year 2016.</p><p><strong>Qatar Jet Fuel (QJET)</strong></p><p>Company subsidiary QJET realized a net income (inclusive of minority rights), of 329.9 Million Riyals in the year 2017, compared to 229.8 Million in the year 2016, with the increase of 43%. Increase of sales, cost optimization policy and the reduction of export allowance have the greatest impact on the income increase.</p><p>And last and not the least, I would like to convey my profound thanks and appreciation to Mr. Ahmed Saif Al Sulaiti, Chairman of the Board of Directors and the respected Board Members for their prudent guidance and continuous support to the company.</p><p>Our thanks are also due to all government official, public and private institutions and to our honored shareholders, and to WOQOD employees, for their significant efforts in serving and developing the company.</p><p>We vow to exert more efforts and deliver our best to achieve company future objectives.</p><p>Thank You.</p>I’m pleased to present to you WOQOD achievements during the year 2017 along with its future plans and projects for the following period.3/26/2018 10:00:00 PM422
Dividend Distribution Announcement<p>​Dividend distribution for 2017 and previous years.</p>​Dividend distribution for 2017 and previous years.3/24/2018 10:00:00 PM420
Invitation to Attend the Annual General Meeting<h3>​<a href="/EN/MediaCenter/News/Documents/Proxy%20form%20-%202018.pdf" target="_blank">​Proxy Form - click to download​​​</a></h3>WOQOD Shareholder Invitation3/7/2018 10:00:00 PM419
Sierra Leone Minister of Energy visits WOQOD LPG Plant​HE Mr. Henry Olufemi Macauley, Minister of Energy in the Republic of Sierra Leone, visited Qatar Fuel “WOQOD” LPG filling and distribution plant on Thursday 08 February 2018, accompanied by delegates from the Ministry of Energy & Industry in Qatar, headed by Eng. Ali Al Amri, and met Eng. Naja Mahdi Al-Ahbabi, Gas Operations Manager, and his crew.<br> <br>During the presentation, Eng. Naja Mahdi Al-Ahbabi has shared the WOQOD experience in LPG distribution and the introduction of Shafaf (composite) cylinders to the Qatar market.HE Mr. Henry Olufemi Macauley, Minister of Energy in the Republic of Sierra Leone, visited Qatar Fuel “WOQOD” LPG filling and distribution plant on ThShafaf3/5/2018 10:00:00 PM418
WOQOD Net Profit for 2017 Amounted to 964 Million Qatar Riyals<p>WOQOD Chief Executive Officer, Engineer Saad Rashid Al-Muhannadi announced that Qatar Fuel (WOQOD) Board of Directors, chaired by Mr. Ahmed Seif Al-Sulaiti, convened its annual meeting at 01:30 pm. on 28 February 2018, In WOQOD Tower, West Bay. The Board reviewed the Financial results achieved by the company during the fiscal year ended 31 December 2017 and approved the said results.</p><p>Engineer Al-Muhannadi revealed that WOQOD net profits for the year 2017 (excluding minority interests) amounted to 964 Million Riyals, compared to 883 Million Riyals with an increase of Qr. 81 Million representing 9.2 % from the preceding year 2016. Return on share amounted to (9.7) Riyals, compared to 8.9 Riyals per share for the preceding year.</p><p>Ownership rights increased by about %1.1 to 7.4 Billion Riyals for the said year, compared to 7.3 Billion Riyals for the year 2016.</p><p>Engineer Al-Muhannadi added that WOQOD realized this good result in net profit increase despite substantial changes and huge reduction of its margins for distribution of fuel product during the said year, thanks to the efforts exerted towards the increase of fuel sales in general, in addition to the measure taken for costs reduction through a multi- initiative integrated cost optimization policy being implemented in phased manner, and is expected to yield results in the near future.</p><p>Engineer Al-Muhannadi further announced that, in line with the financial results achieved, the Board issued a recommendation included in the agenda for the Annual General Assembly Meeting to be convened in the evening of the 25th of March 2018 for distribution of dividends amounting to Qatari Riyal 8 per Share, resulting in total dividend payout of  Qatari Riyal 795,404,611, equivalent to 80 % of the nominal paid capital. The recommendation has taken into account the present liquidity status and future financing requirements for capital projects approved for the year 2018, and thereafter.</p><p>Engineer Al-Muhannadi went on to say that, the Board has reviewed and approved the current and future projects intended for implementation by the company in support of the comprehensive country development endeavors. Fuel Service stations currently operated by WOQOD amounted to 58 stations, where 4 permanent station were added during the year 2017 in Al-Mashaf, Bu Nakhla, Um Ghuailena and Al-Khor, in addition to 2 mobile stations in Galyha and Al – Gharafa.</p><p>Engineer Al-Muhannadi indicated that WOQOD has an ambitious plan for increasing its stations to 120 stations (inclusive of 10 mobile stations) within a period of 3 years, where about 30 stations will be completed and operated within  the forthcoming (12) months period. The company is also planning to increase the number of dispensers within the currently operational stations by 59% within the year 2018, and will continue with the same increase rate within the following years 2019 and 2018 in order to reduce the vehicle congestion within petrol stations resulting from the decommissioning of many private stations.</p><p>He further emphasized that WOQOD in pursuit of its role for serving the country and the community, regardless of the cost value and profit and loss considerations, would not hesitate to build fuel stations on any location and at any time in case of availability of land and viability of the project, </p><p>He further maintained that WOQOD and its affiliated companies intend to implement various other vital projects in the forthcoming period. These include Bitumen Facilities Expansion Project aiming at supporting and supplying state roads and projects with their requirements of asphalt products that conforms to the highest international standards in the fields sustainability and durability of roads.</p><p>Phase (1) relating to PMB has already been completed and Phase (2) will be finalized during the 3rd quarter of this year 2018. As regards the precautionary measures undertaken by WOQOD to face the negative repercussions of the blockade, and ensure continuity of company operations in relation to bitumen, oils and Lubricants imported from abroad, Engineer Al-Muhannadi pointed out that the company had carried out the necessary contractual arrangements with substitute sources, and provided appropriate means of logistic support, such as ships and other means. The company also co-ordinated with Qatar Petroleum in relation to the "Ship to Ship" bunkering operations from Ras Laffan Bunkering Facilities.</p><p>With regard to Lubricating Oils and Greases (whose sales were expanded significantly during the year 2017, through contracts concluded with the government and others, and by competing for winning government tender for their supply), the requisite quantities were provided through alternate supply sources.</p><p>Engineer Al-Muhannadi further announced that currently there are seven (7) operating Vehicle Technical Inspection Centers, where 2 new centers were added during the years 2017 at Al Khor and Al Wakair. A new mobile center has been added by the beginning of the year 2018 and Al-Shehaniya Center has also been added few days ago. At tender has been issued for Al Mazrouaa center during the first quarter of this year 2018, and a study is underway for construction of a new center at Madinat Al Mowater, thus the number of the technical inspection centers will rise to 8 centers.</p><p>As to company activities during the year 2017, Engineer Al-Muhannadi highlighted, the increase realized​ in terms of distributed products volume in comparison with that of the year 2016. Sales of the various types of fuel increased by 6%- Bitumen sales witnessed an increase percentage of about 275%, while ship bunker fuels sales increased by 10 times, whereas gas sales realized a 12.2% increase. Quantities of petroleum products retail sales increased by 26.1% while non-petroleum retail sales realized an 11% increase of revenue. FAHES revenue increased by 2.8%, and products transport distance (in kilometers) increased by 19.8% compared to the total travelled distance in 2016. </p><p>Engineer A-Muhannadi revealed that the Board has reviewed and endorsed the present and future plan and strategic priorities of the company for the period 2018-2022. The company has an ambitious plan for increasing its stake of the market for distribution and transportation of petroleum products, gas, bitumen, bunker fuel, oils and lubricants. This could be achieved through the implementation and operation of various projects, and concluding the necessary contracts and agreements relevant to these activities with the support of quality control systems, modern technology systems as well as the introduction of the highest health, safety and security systems together with the environmental maintenance/preservation.</p><p>Speaking about customer satisfaction, Engineer Al-Muhannadi indicated that WOQOD has introduced the point of Sale service (POS) in all WOQOD Fuel stations to enable customer use different credit cards in addition to the use of WOQODe car system which manages and operates vehicle fueling process in an automated, easy and hazard free manner.</p><p>The company was able to increase the sales of WOQODe system by 83.235 tags during the year 2017 with a 134% increase rate compared to the sales achieved during the year 2016. WOQOD is also planning to increase its non-petroleum activities, authorized under its Articles of Association by a rate of 15% per annum until the year 2022.</p><p>The company will go ahead with its ambitious plan for realizing the highest revenues for its shareholders. This will be achieved by developing and expanding its core business as well as supporting activities, and through continuing with its implementation of its systematic plan for cost optimization through a set of well thought initiatives and mechanisms, for achieving capability and efficiency in company operations, and availing the necessary support for the plan by introducing other necessary accounting and technical policies and procedures.</p><p>Engineer Al-Muhannadi reviewed the steps taken by WOQOD in the field of Qatarization, to which the company accorded paramount importance. He advised that the company has a strategic plan for recruiting and retaining capable and qualified Qatari employees and prepare them for joining the leadership team. A number of students are now pursuing their studies on a scholarships funded by the company, in specializations consonant with WOQOD business requirements. There are other Qatari employees undergoing training with the objective of recruiting them in different target positions. Qatarization amounted to 35% within the senior staff category, and the vast majority of the higher management team are from Qatari competencies.</p><p>As to corporate social responsibility, Engineer Al-Muhannadi indicated that WOQOD was able to reach out to all customers in the remote areas, thereby giving effect to its social responsibility in Qatar. The company also sponsored a number of national functions such as Qatar National Day. </p><p>Emphasizing that, the company management and Board of Directors will exert all efforts to realize company strategic vision for provision the best services to the country, the citizens and the residents, Engineer Al-Muhannadi thanked all concerned parties for their unfailing support to WOQOD in furtherance of the realization of its objectives and the implementation of its vital projects.</p>The Board reviewed the Financial results achieved by the company during the fiscal year ended 31 December 2017 and approved the said results. Enginee2/28/2018 10:00:00 PM417
WOQOD Participates in Qatar’s 7th National Sports Day<p>​​As part of Qatar's 7th National Sports Day, Qatar Fuel (WOQOD) hosted a health awareness event highlighting the importance of sports and healthy living at the company's headquarters. The event had a large employee turnout from various departments of WOQOD.</p><p>WOQOD's sports day celebration came as part of the company's ongoing Corporate Social Responsibility efforts to promote well-being amongst its staff. The company believes that investing in its human capital help in boosting productivity levels while ensuring the creation of a sustainable workforce in line with Qatar's National Vision 2030 and its human development pillar.  </p><p>During the awareness event, WOQOD employees were enlightened about the importance of sports in their lives and its advantages. Participants also measured weight, height, and Body Mass Index (BMI) test, the event aims to raise awareness on adopting and maintaining a healthy lifestyle.</p>As part of Qatar's 7th National Sports Day, Qatar Fuel (WOQOD) hosted a health awareness event highlighting the importance of sports and healthy livinSports2/14/2018 10:00:00 PM416
Qatar Fuel "WOQOD" Accepts debit and credit cards for fuel payments at its stations<p>​Mr. Saad Rashid Al-Muhannadi, the Chief Executive Officer (CEO) of WOQOD, stated that as part of WOQOD's commitment to provide outstanding services to its customers across the country and deliver payment facilitation, customers could now make fuel payment at WOQOD stations by using their bank debit and credit cards from 1st February, 2018. This new WOQOD POS card service will provide convenience and better fueling experience to customers at all WOQOD stations.</p><p>WOQOD's CEO, Mr. Saad Rashid Al-Muhannadi, also stated "This card payment solution initiative comes in line with WOQOD's ongoing efforts to emphasize its market leadership in innovative services and meeting customer's expectations. We are excited to collaborate with QNB, as our strategic partnership will provide a broader range of customers with industry-leading services and deliver hassle free and quick service at WOQOD stations". Mr. Muhannadi also stated that in the near future WOQOD is planning to add many petrol stations in the country, to serve the increasing demand. </p><p>The card payment services will be launched in collaboration with QNB.  Mr. Ali Al Kuwari, QNB Group CEO, said: "QNB is pleased to partner with WOQOD to provide its customers with an outstanding service and a more convenient way to pay. We operate the largest integrated payment network in Qatar built on innovation and service excellence which will provide WOQOD customers with a seamless experience."</p><p>WOQOD stations also offer exceptional services like auto care, auto wash facilities and SIDRA convenient stores to better cater to customer requirements.</p>As part of WOQOD's commitment to provide outstanding services to its customers across the country and deliver payment facilitation, customers could noNews1/31/2018 10:00:00 PM415
WOQOD” Opens New Petrol Station in Al Egla (Lusail)<p>As part of the company's ongoing expansion plans to be able to serve every area in Qatar, and in line with its commitment to meet the fuel and energy needs of the country, Qatar Fuel "WOQOD" opened Al Egla petrol station on Sunday 21st January 2018, and by this increasing it's network of various petrol stations to 60. </p><p>WOQOD's CEO, Eng. Saad Rashid Al Muhannadi, said: "WOQOD aspires to expand its petrol station network in the country to meet the rising demand for petroleum products and achieve the goal of providing customers with access to best-in-class products and services at their convenience and comfort. WOQOD is currently engaged in 30 petrol station projects, most of these projects are expected to be operational this year."</p><p>With the addition of Al Egla petrol station, WOQOD's branded stations network increased to 47. Al Egla is spread over an area of 10,000 square meters and offers round-the-clock services to residents of Lusail area, includes Sidra convenience store, auto wash facility, auto repair, tyre services and sale of LPG cylinders in addition to sale of gasoline and diesel products.</p><p>The station is equipped with WOQOD's unique RFID based electronic payment service (WOQODe) that offers many benefits, especially shorter filling time.</p><p>WOQOD is sincerely grateful to all the public and civil authorities that contributed to the completion of this project.</p>As part of the company's ongoing expansion plans to be able to serve every area in Qatar, and in line with its commitment to meet the fuel and energy 1/24/2018 10:00:00 PM414
WOQOD Board of Directors Approves Company Annual Budget for 2018 <div>​​​Engineer Saad Rashid Al Muhannadi, Qatar Fuel Chief Executive Officer announced that WOQOD Board of Directors duly chaired by Mr. Ahmad Saif Al Sulaiti, held its 6th meeting of the year 2017 at 01:30pm on Wednesday 20/12/2017 at WOQOD Head Office in WOQOD Tower – West Bay. The Board reviewed and approved company annual budget for the year 2018.</div><div>Mr. Al Muhannadi stated that, the budget included the anticipated key performance indicators for WOQOD Group in relation to the distribution and marketing of Petroleum Products and gas, as well as other activities of WOQOD and subsidiary companies during the year 2018, along with the pertinent operational costs and expenses.</div><div>Mr. Al Muhannadi pointed out that the capital expenditure budget has allocated (816) Million Qatari Riyals for spending on new projects to be established during the year 2018. He further elaborated that the Petrol Stations owned and operated by the company are currently 58 stations and the number is expected to rise to 59 stations by the end of the current year 2017. He added that WOQOD plans to complete and operate 15 additional stations in 2018 along with another 15 mobile stations to eliminate traffic congestions at Petrel Stations. Furthermore, he</div><div>maintained that tenders for construction of another 18 petrol stations will be awarded during the first quarter of year 2018, and that the company is planning to have up to 122 stations in place by the year 2022.</div><div>With regard to Vehicle Technical Inspection Centers Mr. Al Muhannadi stated that, there are 6 centers currently in operation, to which Al Shahaniya Center will be added in the beginning of the year 2018 and the tender for the construction of Al Mazrooua Center will be issued within the 1st quarter of the year 2018, and hence the number of the Centers will rise to 8 Centers.</div><div>Mr. Al Muhannadi further pointed out that WOQOD budget proposal included the purchase of two (2) new ships in support of the operation of its subsidiary WOQOD Marine Services. Moreover, the company is determined to effectively participate in petroleum products distribution, storage and marketing infrastructure projects in collaboration with the concerned parties. The budget also includes expenditure items for maintenance, asset integrity, health, safety and environment.</div><div>Mr. Al Muhannadi also announced that the Board has approved the current and future business plan and company strategic priorities during the period 2018‐2022, where the company has an ambitious plan for increasing its share in the market for distribution and transportation of petroleum products, gas, bitumen, bunker fuel, oils and lubricants through the construction and operation of the various projects required for these activities, together with the supporting Quality Management Systems, state ‐of‐ the‐ art IT systems and the highest health and safety standards, and environmental preservation measures.</div><div>The company intends to increase its stake in non‐petroleum activities provided for by its Articles of Association by 15% per annum until the year 2022, in addition to increasing the number of CNG stations to meet the requirement the comprehensive government plan up to the year 2022.</div><div>Mr. Al Muhannadi further emphasized that the company intends to carry on with its ambitious plan during the year 2018 to achieve the best returns for its shareholders through the performance of its activities and implementation of its projects, supported by a structured plan for cost optimization, through a studied mechanism for achieving efficiency in the company operations, and provision of the necessary support to the plan through the introduction of accounting and other technically specialized policies and procedures.</div><div>Finally, Mr. Al Muhannadi expressed his thanks and appreciation to all concerned parties for the support they have extended to WOQOD in its realization of its promising projects designed for the common good of the country, the citizens and shareholders. He particularly expressed his thanks and appreciation to Ministry of Interior, Ministry of Municipality and Environment and Qatar Petroleum.</div><div>                                                                End</div><p>​​​</p>20/12/2017 at WOQOD Head Office in WOQOD Tower – West Bay, the Board reviewed and approved company annual budget for the year 2018.News12/23/2017 10:00:00 PM413

 

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