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CHEQUE COLLECTION DURING EID HOLIDAY<p>​</p><p>WOQOD CHEQUE PAYMENT DURING THE EID HOLIDAY. THE CHEQUE COLLECTION </p><p>WILL BE IN WOQOD TOWER 24<sup>TH</sup> FLOOR FINANCE DEPARTMENT BETWEEN 10 .00 am – TO </p><p>12.00 pm. STARTING FROM 17<sup>TH </sup>JUNE 2018 TO 21TH JUNE 2018 CONTACT PERSON ARE AS </p><p>FOLLOWS. </p><ol style="list-style-type:decimal;"><li>Sunday        Mr.Reshad- Contact No: 40217246/77303032</li><li>Monday       Mr.Shadi- Contact No:40217277/78/66442450</li><li>Tuesday      Mr.Farah- Contact No: 40217252/55295232</li><li>Wednesday Mr.Reshad-Contact No: 40217246/77303032</li><li>Thursday    Mr.Shadi Contact No: 40217277/58/66442450</li></ol><p> </p>WOQOD CHEQUE PAYMENT DURING THE EID HOLIDAY. THE CHEQUE COLLECTION 6/15/2018 10:00:00 PM
WOQOD raises the non-Qatari ownership to 49% and the private ownership to 1%<p>Qatar Fuel (WOQOD) Extraordinary General Assembly (EGM) Chaired by Mr. Ahmed Saif Al-Sulaiti, Chairman of the Board of Directors held its meeting on Sunday 10/06/2018, where the EGM amended Article 9-1 of the company Articles of Associations to raise the non-Qatari ownership to 49% of the company share capital and to raise the limits of ownership to the one shareholder to 1%.</p><p>It is worth noting that WOQOD attempted to convene its Extra Ordinary General Assembly meeting on 06/05/2018 & 09/05/2018 respectively but the meetings had been postponed for today due to lack of the necessary quorum. </p><p>Engineer Al-Muhannadi indicated that this amendment came in order to give effect to the ‎instructions of Qatar Petroleum to its listed affiliate companies, and also to address the request of ‎Qatar Stock Exchange to undertake the said amendments with the purpose of enhancing the ‎investment attractiveness of Qatari companies, after classification of the State of Qatar was raised ‎by MSCI and a number of international indexing agencies to the level of emerging markets, thus ‎becoming the largest emerging market in the region. ‎</p><p>The amended Article 9-1 of WOQOD Articles of Associations reads as follows:‎</p><p>‎"Except for the owner of the privileged ‎share, Shafallah Center and the State of ‎Qatar (as defined in Qatar Financial ‎Market Authority Decision No. 1 of ‎‎2016), the Qatar Foundation for ‎Education, Science and Community ‎Development, The Qatar Investment ‎Authority and Qatar Holding Company, ‎no natural or legal person may at any ‎time - directly or indirectly - hold shares ‎in the Company in excess of 1% of the ‎issued capital.‎</p><p>Subject to the provisions of the above ‎paragraph, non-Qataris may hold a total ‎percentage of the capital of the ‎Company not exceeding 49% of the ‎issued capital in accordance with the ‎provisions of Law No. 9 of 2014 ‎regulating the investment of foreign ‎capital in economic activity".‎</p><h2>WOQOD is a Service and Business Profit Company at the ‎same time. In recognition of its Service Status, it builds many ‎low profits Petrol Stations in remote areas for the service of ‎the State and the Society</h2><h1><span style="text-decoration:underline;">WOQOD possesses a Dual Professional and Legal Personality</span></h1><p>•             Engineer Al Muhannadi pointed out to and drew specific emphasis on the dual professional legal status of WOQOD, maintaining that WOQOD is at the same time a profit making listed public shareholding company pursuing profits and welfare for to its shareholders, and is subjected pursuant to this legal status to stringent Laws , Regulations and Regulatory Bodies just like any other shareholding company , and also it is considered a public services company duly established by the Government represented by QP to perform on exclusively basis the downstream Oil and Gas services to the State and Society in the State of Qatar, including airports and seaport irrespective of profits to be derived from the activity in all cases. WOQOD by venture of this service status is also subjects to other different more stringent sets of Laws, Systems, Regulations and Decisions particularly in fields of Health, Safety, Security and Environment. Engineer Al Muhannadi further stressed that in case of conflict between WOQOD aforementioned two status, the service status will reign supreme based on Public Policy considerations. </p><h1><span style="text-decoration:underline;">Services Status Function of WOQOD </span></h1><p>•             Mr. Al Muhannadi gave more elaboration on the Services Function Status of WOQOD by giving some examples including, without limitation, the building of many retail petrol stations in remote locations within the territory of the State of Qatar although the economics of such stations is very weak and fragile, explaining that the company is building such low revenue deriving stations in the discharge of its legal responsibility and its obligation towards the State and the Society in the exercise of its Public Services ' Function. </p><p>•             Mr. Al Muhannadi is this same respect pointed out that WOQOD is currently investing an amount of QR. 634 millions in this year for adding new stations and additional dispensers in some new stations to achieve the highest level of optimization as well as to prevent or at least to decrease the cars' queue in the stations occasioned by the close out of many private petrol stations.</p><h2>WOQOD will Operate 30 Gas Stations in 2018 and looking forward for more land allocation inside Doha City</h2><h2>WOQOD will double the number of its Petrol Stations within three years to reach 120 Petrol Stations</h2><h1><span style="text-decoration:underline;">Growth in Building Modern Petrol Stations </span></h1><p> <img src="/EN/MediaCenter/News/PublishingImages/Pages/WOQOD-raises-the-non-Qatari-ownership-to-49--and-the-private-ownership-to-1/Map.jpg" alt="Map.jpg" class="ms-rtePosition-2" style="margin:25px 50px;width:205px;height:384px;" /><img src="/EN/MediaCenter/News/PublishingImages/Pages/WOQOD-raises-the-non-Qatari-ownership-to-49--and-the-private-ownership-to-1/Graph.png" alt="Graph.png" class="ms-rtePosition-3" style="margin:0px 10px;width:247px;" /></p><p>•             In the field of Gas Stations Mr. Al Muhannadi speaks firstly in respect of the current number of the gas stations owned by the company to date, stating that it began with only two in the year 2003 to reach currently 64 gas stations and it is highly expected that the number will rise to 88 gas stations by the end of the year 2018, where 30 additional Gas Stations, ten of which are movables, will be built in this year. Mr. Al Muhannadi maintained that WOQOD current share in the fuel retail market reached 64% compared to only 48% in the year 2016, and stressed that the percentage share will rise to 85% by the year 2020.  </p><p>•             In respect of new Gas Stations building, WOQOD CEO highlighted that the year 2018 has thereto witnessed the building of four (4) immovable Gas Station in Al Egla , New Slata , Al Thummama and Motor City areas, in addition to two movable Gas Stations. Mr. Al Muhannadi elaborated that in addition to 8 movable gas stations, 16 more immovable Gas Stations will be built in the current year 2018 in Lusail City, Fox Hill, Fereej Kulaip , Old Slata , Rawdat Al Hamama 2 , Al Khairitiyat , Al Gharaffa  ( Ezghawa), Al Thummama 2 , Wholesale Market , Umm Ebairiya , Messaimeer South , Al Wakra 2 , Hazm Al Markhiya, Al Froosh, Al Ezzaiziya , HIA , Wadi Aba Saleel.   </p><img src="file:///C:/Users/jveliu/AppData/Local/Temp/msohtmlclip1/01/clip_image002.png" alt="" style="width:1px;margin:5px;" /><img src="file:///C:/Users/jveliu/AppData/Local/Temp/msohtmlclip1/01/clip_image004.png" alt="" style="width:1px;margin:5px;" /><p>•             Mr. Al Muhannadi explained that the option to operate movable Gas Stations has been resorted in order to address the absolute necessity and essential need to cover the supply deficit prompted by the private petrol stations close out.  </p><p>•             Mr. Al Muhannadi depicted WOQOD Gas Station as being modern, integrated and providing State- of- the- art Services on international standards. He went on to say that such gas stations are deemed and actual addition to the current development and modernization progress abounding in our beloved country. </p><p>•             In respect of future policy for gas stations building Mr. Al Muhannadi further explained that WOQOD is currently deploying all of its efforts and resources to implement its ambitious plan to double the number of its gas stations within three (3) years period to reach 120 gas stations by the year 2020. He directed his thanks and gratitude to the Government of the State of Qatar for the allocation of the sufficient number of plots in furtherance of WOQOD Gas Stations Construction Policy, assuring that WOQOD, in furtherance of its afore said Service Status, will not hesitate to build any gas station in every location where the plot of land is to be allocated whoever remote and irrespective of the economics of the same. Mr. Al Muhannadi concluded his speech in this regard by saying that WOQOD is looking forward for more land allocation in Doha City for Gas Stations building in order to decrease the pressure on the current stations.</p><p><br></p><h2>WOQOD Adds 51% extra dispensers at petrol stations (equivalent to 158 dispenser) this ear to cover shortage created by decommissioning of same ‎privately owned stations</h2><p><img src="/EN/MediaCenter/News/PublishingImages/Pages/WOQOD-raises-the-non-Qatari-ownership-to-49--and-the-private-ownership-to-1/Graph%202.png" alt="Graph 2.png" style="margin:5px 0px;" />​<br></p><img src="file:///C:/Users/jveliu/AppData/Local/Temp/msohtmlclip1/01/clip_image006.png" alt="" style="width:1px;margin:5px;" /><h1><span style="text-decoration:underline;">Increase in dispensers numbers at WOQOD petrol stations</span></h1><p>•             Engineer Al-Muhannadi spoke about company phased plan for doubling the efficiency of the new petrol stations, currently under construction, by adding new dispenses to better serve the public and avert queues resulting from the decommissioning of many privately owned petrol stations, embedding the smooth flow of traffic and causing waste of time. WOQOD is undertaking such dispenser additions in line with its role as a public service provider. Engineer Al-Muhannadi pointed out that, the additional dispensers to be installed in the year 2018 will amount to 51% (equivalent to 158 dispensers) of the current total number of dispensers. Additional dispensers installation will continue with the same pace during the years 2019 and 2020. He further highlighted the other measures taken by WOQOD to improve customer satisfaction and give effect to its social responsibility, where WOQODe electronic fueling System is installed in cars thus availing customers with new economic privileges.</p><h2>Despite the fact that, increase in fuel will not exceed 10% in the coming 3 years, yet WOQOD is planning to double its petrol station, by effecting a 100% increase</h2><h1><span style="text-decoration:underline;">Petrol Station Growth Vs. Fuel Growth Trend</span></h1><p>•             Engineer Al-Muhannadi gave a comparison between petrol station growth rate and fuel sales growth rate, where the company is determined to double petrol stations by effecting a 100% increase during the 3 coming years 2018 – 2020 with the view to achieve customer satisfaction and avert queues in the petrol stations, despite the fact that, the increase of fuel consumption during the said years will not exceed 10%.   </p><h2>WOQOD is engaged in the construction of additional fuel tanks at HIA, on its own expense, in support of aviation operations at HIA</h2><h1><span style="text-decoration:underline;">WOQOD Chief Executive Officer reviewed jet fuel sales from Hamad International Airport (HIA) summerising the subject as follows: </span></h1><p>•             10% Increase in average yearly jet fuel sales.</p><p>•             WOQOD is currently engaged in discussions with HIA and Civil Aviation Authority to improve the storage capacity at HIA, to meet the growing demand and to take full advantage of the new pipeline connection from Ras Laffan, where WOQOD will on its own expense, construct additional jet fuel tanks at HIA.</p><h2>WOQOD Achieved a 275% increase in bitumen sales during the year 2017, as a result of the approved marketing policy</h2><h1><span style="text-decoration:underline;">Bitumen Operations:</span></h1><p>WOQOD Chief Executive Officer Summarised the matter saying that, despite the circumstances created by the unjust blockade: </p><p>•             WOQOD ensured uninterrupted supply of Bitumen in the local market.</p><p>•             Sales increased by 275% from 2016.</p><p>•             WOQOD local market share increased from 60% to 90%.</p><p>•             Bitumen logistics and supply chain were strengthened to meet the increasing demand, where WOQOD is currently engaged in the phased construction of bitumen storage facilities at Mesaied Port.</p><p> </p><h2>Bunker Distribution at Qatari Ports increased to 10 times during the year 2017</h2><h1><span style="text-decoration:underline;">Bunker Operations:</span></h1><p>•             Engineer Al-Muhannadi pointed out that, WOQOD is currently performing bunker operations from all Qatari Ports and within Qatari territorial waters based from bunkering facilities at Ras Laffan, owned by Qatar Petroleum. Bunker Operations from the facilities, started in 2017 in collaboration with Qatar Petroleum, where bunker distribution increased to 10 times in comparison with quantities distributed in 2016.</p><h2>Complete shift to the use of SHAFAF Cylinders effective 30/06/2018</h2><h1><span style="text-decoration:underline;">LPG Operations</span></h1><p>•             WOQOD Chief Executive Officer explained that, the product consumption quantities has been on the rise since the year 2015. LPG sales increased in 2017 by 17% from the sales achieved in 2016. Cylinder sales increased by 7%, where WOQOD is launching promotional offers for SHAFAF Cylinders to persuade customers to phase out high risk steel cylinders and finally replace them with safe high quality SHAFAF cylinders by 30/06/2018.</p><h2>Collaboration with Qatar Petroleum to operate new natural gas stations</h2><h1><span style="text-decoration:underline;">Natural Gas</span></h1><p>•             WOQOD is supplying natural gas to the factories located in the new industrial area. WOQOD is also operating a station for compressed natural gas (CNG). Collaboration is on going with QP for managing and operating new CNG Stations across the state of Qatar as WOQOD is managing and distributing the product from a pilot station since the year 2012.</p><h2>Renewal of the Exclusive Contract for Vehicle Technical Inspection with the Ministry of Interior  </h2><h1><span style="text-decoration:underline;">Vehicle Technical Inspection</span></h1><p>•             WOQOD is performing vehicle technical inspection services through its affiliate company (FAHES) using the most advanced modern inspection techniques. It is worth mention that the affiliate company; WOQOD  Vehicle Technical Inspection Company (FAHES) started operations in the year 2009 with a single station at industrial area, however WOQOD implemented vehicle technical inspection projects in pursuit of provision of the highest standard of services to the state and the community at large, and achieving customer satisfaction. The number of vehicle technical inspection centers has reached 12 centers,comprising 7 permanent centers and 5 mobile stations. Construction work for heavy vehicles inspection center at Al Mazrooaa is currently underway. The company is planning to build another center at Mowate City.</p><p>•             As to the legal framework for inspection services, the exclusive contract for vehicle technical inspection service with the Ministry of Interior has been renewed for a further period of 5 years.</p><h2>WOQOD will supplement its fleet of owned vessels in line with the requirements of the local market</h2><h1><span style="text-decoration:underline;">WOQOD Marine:</span></h1><p>•             The affiliate company, WOQOD Marine is primarily rendering support services to company operations in the field of bunker fuel and bitumen, where it performs all operations pertaining to the import and transport of bitumen to the State of Qatar, and distribution of bunker fuel within the Qatari ports and territorial waters. Due to the increase realised in the distribution and sale of these two products, the vessel utilization rate increased to 92% in the year 2017 compared to 78% achieved in the year 2016. These vessels effectively contributed- and are still contributing-to the breaking of the grip of the unjust blockade, by supplying and distributing a significant part of the country requirement of bitumen product.</p><p>•             The company is planning to supplement its fleet by more bitumen and bunker fuel carrying vessels in accordance with the requirements of the local Qatari market.  </p><h1><span style="text-decoration:underline;">Other Non-Fuel Activities</span></h1><p>•             Non-fuel sales realised a 17% increase in the year 2017 in comparison with the year 2016. The  company introduced new lubricant brands compliant with car manufacturers recommendations, including Castrol, Shell and Total. Dry cleaning services were also introduced in some fuel stations.</p><h1><span style="text-decoration:underline;">Cost optimization and profitability fostering policy</span></h1><p>•             Engineer Al-Muhannadi pointed out that, WOQOD has a multi-initiative policy for cost optimization and profitability fostering, through achieving efficiency and effectiveness in company operations and activities. Some of these initiative were implemented during the year 2017, and the rest will be completed in this year 2018, particularly in the areas of inventory and engineering services.</p><p>•             WOQOD has completed a comprehensive reorganization in order to make the company more efficient and effective. </p><p>​WOQOD has a number of initiatives and basic future plans in pursuit of providing the highest standard of services to the state and the community at large, and enhancing WOQOD core activities to meet shareholders expectations and achieve customers satisfaction.</p><p>Finally, Engineer Al-Muhannadi expressed his thanks and appreciation to all government entities, public and private institutions, honored shareholders, board of directors and all WOQOD employees for their sincere efforts for serving and developing the company, and he vowed to exert more effort and deliver the utmost during the forthcoming period in furtherance of company future objectives.  </p>Qatar Fuel (WOQOD) Extraordinary General Assembly (EGM) Chaired by Mr. Ahmed Saif Al-Sulaiti, Chairman of the Board of Directors held its meeting on S6/9/2018 10:00:00 PM
woqod fahes renew vehicle inspection contract with MOI for five years<p style="text-align:right;"><font face="Sakkal Majalla" size="5"></font> </p><p> <font size="5">Engineer Saad Rashid Al Muhannadi Qatar Fuel (WOQOD) Chief Executive Officer stated that; </font></p><font size="5"><font size="5"> </font><p>"WOQOD Vehicles Inspection (FAHES) is pleased to announce that it has renewed its contract with Ministry of Interior (MOI) for carrying out the mandatory annual vehicle inspections for a period of five years (2018 – 2023). </p> <p>During its past tenure, WOQOD Vehicles inspection (FAHES) has delivered distinguished service by building more stations with latest global technology and making it more convenient for its valued customers, through the implementation of single - window system. This resulted in reducing the travelling and waiting time for renewal of registration certificate, enhancing customer satisfaction by investing in its workforce through technical training to enable it to keep up with the latest developments in testing techniques and vehicle models and technologies. </p> <p>Engineer Al Muhannadi Further stated: </p> <p>"We started the inspection service in 2003 with one permanent station in industrial area, comprising 6 lanes and 3 mobile units. Today we have geographically expanded and have 7 permanent stations across Qatar (Industrial area, Mesaimeer west, Wadi Al Banat, Al Wukair, Al Wakra Al Shahaniya and Al Egda) comprising 36 lanes and 5 mobile units. WOQOD recognizes that the need to build more stations is imminent with the constantly growing population, in line with Qatar Vision 2030. Mindful of this, the contract for the construction Fahes Al Mazrooaa center has been awarded, and WOQOD is currently engaged in the planning for Fahes Mowater City project. </p> <p>We thank the Ministry of Interior and the people of Qatar for reposing trust in us since our inception in 2003 and we feel proud to play an active role in enhancing the traffic safety in the State of Qatar by ensuring safety and technical fitness of vehicles used on our roads. We highly value our partnership with the Ministry of Interior in pursuit of providing the highest level of service to our beloved country and to all the people living across the country". </p> <p>Date: 22 May 2018 </p> <p>Place: Doha </p></font>WOQOD Vehicles Inspection (FAHES) is pleased to announce that it has renewed its contract with Ministry of Interior (MOI) for carrying out the mandato5/22/2018 10:00:00 PM
“WOQOD” Inaugurates Madinat Al Mawater Petrol Station<p>​</p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 6pt;text-align:justify;"><font face="Calibri"><font color="#000000"><span style="line-height:105%;font-size:13pt;"><strong>Doha, 24 May, 2018 – </strong></span><span style="line-height:105%;font-size:13pt;">As part of the company’s ongoing expansion plans to serve all areas in the country, Qatar Fuel “WOQOD” opened its 63rd service station in Madinat Al Mawater in Rawdat Rashid village. <span><font size="4"> </font></span></span></font></font></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:12pt 0in 6pt;text-align:justify;line-height:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri">On this occasion, WOQOD’s Chief Executive Officer, Eng. Saad Rashid Al Muhannadi, said: </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:12pt 0in 6pt 0.5in;text-align:justify;line-height:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri">“We are pleased to open this new station in Madinat Al Mawater to meet the requirements. The new opening reflects our ambitious plans to expand our network and accessibility within Qatar, in order to cater to the growing demand of the local market and ensure that high quality products and services are availed to all our customers at their convenience across the country. WOQOD’s team is sincerely grateful to all public and civil authorities <span><font size="4"> </font></span>that contributed to the completion of this project”. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri"> </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri">WOQOD is currently engaged in the implementation of <span><font size="4"> </font></span>27 petrol station projects, most of which are expected to be operational within this year. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:normal;"><font face="Calibri"><font color="#000000"><span style="font-size:13pt;">With the addition of Madinat Al Mawater petrol station, the company’s branded stations network increased to 50 stations. The new station extends over an area of 7,403 square meters, and has 3 lanes that will serve Madinat Al Mawater and its neighbourhood. </span><font size="4"><span> </span></font></font></font></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri">The petrol station will offer round-the-clock services including Sidra convenience store, auto wash facility, auto repair, tire services, and sale of LPG cylinders, gasoline and diesel 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:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri">WOQOD’s expansion strategy seeks to increase the total number of service stations operated by the company to 100 by 2020, thanks to the provision of necessary land by the concerned authorities.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p align="center" style="margin:0in 0in 8pt;text-align:center;line-height:normal;"><span style="font-size:13pt;"><strong><font color="#000000" face="Calibri">-Ends-</font></strong></span></p><font color="#000000" face="Times New Roman" size="3"> </font>Qatar Fuel “WOQOD” opened its 63rd service station in Madinat Al Mawater in Rawdat Rashid village. 5/22/2018 10:00:00 PM
Third EGM<p><strong><font size="4">QATAR FUEL COMPANY (WOQOD) Q.P.S.C. </font></strong></p><strong><font size="4"><strong><font size="4"> </font></strong><p>EXTRAORDINARY GENERAL MEETING INVITE </p></font></strong>QATAR FUEL COMPANY Third EGM5/22/2018 10:00:00 PM
SECOND EGM<p>​Second EGM</p>EGM5/8/2018 10:00:00 PM
EGMEGM Invitation5/6/2018 10:00:00 PM
BOD Meeting on 29/04/2018<p>​</p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;"><span style="line-height:150%;font-size:16pt;"><strong><span style="text-decoration:underline;"><font color="#000000" face="Calibri">Press release</font></span></strong></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;"><font color="#000000" face="Calibri" size="5">Eng. Saad Rashid Al-Muhannadi Qatar Fuel Chief Executive Officer has announced that Qatar Fuel Company Board of Directors held its third meeting for the year 2018 at 1:30 pm. on Sunday, 29/04/2018 at Qatar Fuel Tower West Bay, presided over by Mr. Ahmed Saif Al Sulaiti Chairman of the Board. The Board discussed and approved the unaudited financial statements and operational activities results of the Company during the first quarter of 2018 ending 31/03/2018.</font></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">Eng. Al-Muhannadi stated that the net profit of the company at the end of the first quarter of 2018 attributable to WOQOD shareholders amounted to QR 301 million compared to QR 176 million for the same period in 2017, with an increase of QR 125 millions, or 71%. He further went on to explain that the increase in profits is attributable to the efforts exerted to enhance efficiency in the works, activities and operations of the company, as well as the concomitant efforts to reduce expenses according to the study carried out and implemented starting First Quarter of 2017, as well as the increase in other income. He added that the operational expenses were reduced by 7% during the first quarter of 2018 compared to the corresponding period in 2017.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">With regard to earning per share, Eng. Al-Muhannadi said that it had reached QR 3.03 by the end of first quarter 2018 compared to QR 1.77 for the first quarter of 2017.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;"><font color="#000000" face="Calibri" size="5">Concerning the company's projects, Eng. Al-Muhannadi explained that the company's plan for 2018 aims to build 30 more petrol stations, including 10 mobile stations throughout the State of Qatar. The first quarter of 2018 witnessed the opening of two stations in Al-Wasil and the Old Salata. Furthermore a third station has just been opened  in the Thumamah area. He further announced that there are currently 17 petrol stations under construction in various parts of the country, most of them are due for completion during this year 2018.</font></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">Eng. Al-Muhannadi also said that 40 additional sites are in various stages of preparation, in order to qualify them for the construction of new petrol stations. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">With regard to the company's operations, Al-Muhannadi explained that there is substantial growth in sales of most of the products. The average increase in the total sales of petroleum products was 4% compared to the first quarter of 2017, while the sales of aviation fuel alone increased by 10%, bitumen by 162.5%, butane gas by 13.6% and HFO by 100%.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">Retail sales of petroleum products increased by 19% while non-oil retail sales, including Sidra stores sales, grew by 11%. He also noted that FAHES operations has increased by 1%, and the transport distance of petroleum products has witnessed an increase by 2.3%.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">In conclusion, Eng. Al-Muhannadi noted that Qatar Fuel has completed its internal restructuring process according to the abovementioned study. He pointed out that Qatar Fuel intends, in line with the official directives of the State of Qatar, to raise the maximum limit for individual ownership in WOQOD share capital to 1% and raise the permissible percentage of ownership of non-Qataris to 49% of WOQOD share capital. For this end he further stressed that Qatar Fuel is currently taking the necessary legal procedures for the implementation of the new ownership percentage rates before the end of the first half of 2018, assuring that the management of the company and its Board of Directors will undertake every effort to stimulate and build a robust and sustainable downstream Oil and Gas distribution Sector within the State of Qatar through the utilization and implementation of latest international standards in furtherance of public policy objectives in modernizing general services infrastructure and utilities, and providing the best services to the State of Qatar, its citizens and residents while achieving the best results for its shareholders.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p align="center" style="margin:0in 0in 0pt;text-align:center;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">-End of Report-</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;"><font color="#000000" face="Calibri" size="3"> </font></p><font color="#000000" face="Times New Roman" size="3"> </font>Eng. Saad Rashid Al-Muhannadi Qatar Fuel Chief Executive Officer has announced that Qatar Fuel Company Board of Directors held its third meeting for t4/29/2018 10:00:00 PM
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

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CHEQUE COLLECTION DURING EID HOLIDAY<p>​</p><p>WOQOD CHEQUE PAYMENT DURING THE EID HOLIDAY. THE CHEQUE COLLECTION </p><p>WILL BE IN WOQOD TOWER 24<sup>TH</sup> FLOOR FINANCE DEPARTMENT BETWEEN 10 .00 am – TO </p><p>12.00 pm. STARTING FROM 17<sup>TH </sup>JUNE 2018 TO 21TH JUNE 2018 CONTACT PERSON ARE AS </p><p>FOLLOWS. </p><ol style="list-style-type:decimal;"><li>Sunday        Mr.Reshad- Contact No: 40217246/77303032</li><li>Monday       Mr.Shadi- Contact No:40217277/78/66442450</li><li>Tuesday      Mr.Farah- Contact No: 40217252/55295232</li><li>Wednesday Mr.Reshad-Contact No: 40217246/77303032</li><li>Thursday    Mr.Shadi Contact No: 40217277/58/66442450</li></ol><p> </p>WOQOD CHEQUE PAYMENT DURING THE EID HOLIDAY. THE CHEQUE COLLECTION 6/15/2018 10:00:00 PM436
WOQOD raises the non-Qatari ownership to 49% and the private ownership to 1%<p>Qatar Fuel (WOQOD) Extraordinary General Assembly (EGM) Chaired by Mr. Ahmed Saif Al-Sulaiti, Chairman of the Board of Directors held its meeting on Sunday 10/06/2018, where the EGM amended Article 9-1 of the company Articles of Associations to raise the non-Qatari ownership to 49% of the company share capital and to raise the limits of ownership to the one shareholder to 1%.</p><p>It is worth noting that WOQOD attempted to convene its Extra Ordinary General Assembly meeting on 06/05/2018 & 09/05/2018 respectively but the meetings had been postponed for today due to lack of the necessary quorum. </p><p>Engineer Al-Muhannadi indicated that this amendment came in order to give effect to the ‎instructions of Qatar Petroleum to its listed affiliate companies, and also to address the request of ‎Qatar Stock Exchange to undertake the said amendments with the purpose of enhancing the ‎investment attractiveness of Qatari companies, after classification of the State of Qatar was raised ‎by MSCI and a number of international indexing agencies to the level of emerging markets, thus ‎becoming the largest emerging market in the region. ‎</p><p>The amended Article 9-1 of WOQOD Articles of Associations reads as follows:‎</p><p>‎"Except for the owner of the privileged ‎share, Shafallah Center and the State of ‎Qatar (as defined in Qatar Financial ‎Market Authority Decision No. 1 of ‎‎2016), the Qatar Foundation for ‎Education, Science and Community ‎Development, The Qatar Investment ‎Authority and Qatar Holding Company, ‎no natural or legal person may at any ‎time - directly or indirectly - hold shares ‎in the Company in excess of 1% of the ‎issued capital.‎</p><p>Subject to the provisions of the above ‎paragraph, non-Qataris may hold a total ‎percentage of the capital of the ‎Company not exceeding 49% of the ‎issued capital in accordance with the ‎provisions of Law No. 9 of 2014 ‎regulating the investment of foreign ‎capital in economic activity".‎</p><h2>WOQOD is a Service and Business Profit Company at the ‎same time. In recognition of its Service Status, it builds many ‎low profits Petrol Stations in remote areas for the service of ‎the State and the Society</h2><h1><span style="text-decoration:underline;">WOQOD possesses a Dual Professional and Legal Personality</span></h1><p>•             Engineer Al Muhannadi pointed out to and drew specific emphasis on the dual professional legal status of WOQOD, maintaining that WOQOD is at the same time a profit making listed public shareholding company pursuing profits and welfare for to its shareholders, and is subjected pursuant to this legal status to stringent Laws , Regulations and Regulatory Bodies just like any other shareholding company , and also it is considered a public services company duly established by the Government represented by QP to perform on exclusively basis the downstream Oil and Gas services to the State and Society in the State of Qatar, including airports and seaport irrespective of profits to be derived from the activity in all cases. WOQOD by venture of this service status is also subjects to other different more stringent sets of Laws, Systems, Regulations and Decisions particularly in fields of Health, Safety, Security and Environment. Engineer Al Muhannadi further stressed that in case of conflict between WOQOD aforementioned two status, the service status will reign supreme based on Public Policy considerations. </p><h1><span style="text-decoration:underline;">Services Status Function of WOQOD </span></h1><p>•             Mr. Al Muhannadi gave more elaboration on the Services Function Status of WOQOD by giving some examples including, without limitation, the building of many retail petrol stations in remote locations within the territory of the State of Qatar although the economics of such stations is very weak and fragile, explaining that the company is building such low revenue deriving stations in the discharge of its legal responsibility and its obligation towards the State and the Society in the exercise of its Public Services ' Function. </p><p>•             Mr. Al Muhannadi is this same respect pointed out that WOQOD is currently investing an amount of QR. 634 millions in this year for adding new stations and additional dispensers in some new stations to achieve the highest level of optimization as well as to prevent or at least to decrease the cars' queue in the stations occasioned by the close out of many private petrol stations.</p><h2>WOQOD will Operate 30 Gas Stations in 2018 and looking forward for more land allocation inside Doha City</h2><h2>WOQOD will double the number of its Petrol Stations within three years to reach 120 Petrol Stations</h2><h1><span style="text-decoration:underline;">Growth in Building Modern Petrol Stations </span></h1><p> <img src="/EN/MediaCenter/News/PublishingImages/Pages/WOQOD-raises-the-non-Qatari-ownership-to-49--and-the-private-ownership-to-1/Map.jpg" alt="Map.jpg" class="ms-rtePosition-2" style="margin:25px 50px;width:205px;height:384px;" /><img src="/EN/MediaCenter/News/PublishingImages/Pages/WOQOD-raises-the-non-Qatari-ownership-to-49--and-the-private-ownership-to-1/Graph.png" alt="Graph.png" class="ms-rtePosition-3" style="margin:0px 10px;width:247px;" /></p><p>•             In the field of Gas Stations Mr. Al Muhannadi speaks firstly in respect of the current number of the gas stations owned by the company to date, stating that it began with only two in the year 2003 to reach currently 64 gas stations and it is highly expected that the number will rise to 88 gas stations by the end of the year 2018, where 30 additional Gas Stations, ten of which are movables, will be built in this year. Mr. Al Muhannadi maintained that WOQOD current share in the fuel retail market reached 64% compared to only 48% in the year 2016, and stressed that the percentage share will rise to 85% by the year 2020.  </p><p>•             In respect of new Gas Stations building, WOQOD CEO highlighted that the year 2018 has thereto witnessed the building of four (4) immovable Gas Station in Al Egla , New Slata , Al Thummama and Motor City areas, in addition to two movable Gas Stations. Mr. Al Muhannadi elaborated that in addition to 8 movable gas stations, 16 more immovable Gas Stations will be built in the current year 2018 in Lusail City, Fox Hill, Fereej Kulaip , Old Slata , Rawdat Al Hamama 2 , Al Khairitiyat , Al Gharaffa  ( Ezghawa), Al Thummama 2 , Wholesale Market , Umm Ebairiya , Messaimeer South , Al Wakra 2 , Hazm Al Markhiya, Al Froosh, Al Ezzaiziya , HIA , Wadi Aba Saleel.   </p><img src="file:///C:/Users/jveliu/AppData/Local/Temp/msohtmlclip1/01/clip_image002.png" alt="" style="width:1px;margin:5px;" /><img src="file:///C:/Users/jveliu/AppData/Local/Temp/msohtmlclip1/01/clip_image004.png" alt="" style="width:1px;margin:5px;" /><p>•             Mr. Al Muhannadi explained that the option to operate movable Gas Stations has been resorted in order to address the absolute necessity and essential need to cover the supply deficit prompted by the private petrol stations close out.  </p><p>•             Mr. Al Muhannadi depicted WOQOD Gas Station as being modern, integrated and providing State- of- the- art Services on international standards. He went on to say that such gas stations are deemed and actual addition to the current development and modernization progress abounding in our beloved country. </p><p>•             In respect of future policy for gas stations building Mr. Al Muhannadi further explained that WOQOD is currently deploying all of its efforts and resources to implement its ambitious plan to double the number of its gas stations within three (3) years period to reach 120 gas stations by the year 2020. He directed his thanks and gratitude to the Government of the State of Qatar for the allocation of the sufficient number of plots in furtherance of WOQOD Gas Stations Construction Policy, assuring that WOQOD, in furtherance of its afore said Service Status, will not hesitate to build any gas station in every location where the plot of land is to be allocated whoever remote and irrespective of the economics of the same. Mr. Al Muhannadi concluded his speech in this regard by saying that WOQOD is looking forward for more land allocation in Doha City for Gas Stations building in order to decrease the pressure on the current stations.</p><p><br></p><h2>WOQOD Adds 51% extra dispensers at petrol stations (equivalent to 158 dispenser) this ear to cover shortage created by decommissioning of same ‎privately owned stations</h2><p><img src="/EN/MediaCenter/News/PublishingImages/Pages/WOQOD-raises-the-non-Qatari-ownership-to-49--and-the-private-ownership-to-1/Graph%202.png" alt="Graph 2.png" style="margin:5px 0px;" />​<br></p><img src="file:///C:/Users/jveliu/AppData/Local/Temp/msohtmlclip1/01/clip_image006.png" alt="" style="width:1px;margin:5px;" /><h1><span style="text-decoration:underline;">Increase in dispensers numbers at WOQOD petrol stations</span></h1><p>•             Engineer Al-Muhannadi spoke about company phased plan for doubling the efficiency of the new petrol stations, currently under construction, by adding new dispenses to better serve the public and avert queues resulting from the decommissioning of many privately owned petrol stations, embedding the smooth flow of traffic and causing waste of time. WOQOD is undertaking such dispenser additions in line with its role as a public service provider. Engineer Al-Muhannadi pointed out that, the additional dispensers to be installed in the year 2018 will amount to 51% (equivalent to 158 dispensers) of the current total number of dispensers. Additional dispensers installation will continue with the same pace during the years 2019 and 2020. He further highlighted the other measures taken by WOQOD to improve customer satisfaction and give effect to its social responsibility, where WOQODe electronic fueling System is installed in cars thus availing customers with new economic privileges.</p><h2>Despite the fact that, increase in fuel will not exceed 10% in the coming 3 years, yet WOQOD is planning to double its petrol station, by effecting a 100% increase</h2><h1><span style="text-decoration:underline;">Petrol Station Growth Vs. Fuel Growth Trend</span></h1><p>•             Engineer Al-Muhannadi gave a comparison between petrol station growth rate and fuel sales growth rate, where the company is determined to double petrol stations by effecting a 100% increase during the 3 coming years 2018 – 2020 with the view to achieve customer satisfaction and avert queues in the petrol stations, despite the fact that, the increase of fuel consumption during the said years will not exceed 10%.   </p><h2>WOQOD is engaged in the construction of additional fuel tanks at HIA, on its own expense, in support of aviation operations at HIA</h2><h1><span style="text-decoration:underline;">WOQOD Chief Executive Officer reviewed jet fuel sales from Hamad International Airport (HIA) summerising the subject as follows: </span></h1><p>•             10% Increase in average yearly jet fuel sales.</p><p>•             WOQOD is currently engaged in discussions with HIA and Civil Aviation Authority to improve the storage capacity at HIA, to meet the growing demand and to take full advantage of the new pipeline connection from Ras Laffan, where WOQOD will on its own expense, construct additional jet fuel tanks at HIA.</p><h2>WOQOD Achieved a 275% increase in bitumen sales during the year 2017, as a result of the approved marketing policy</h2><h1><span style="text-decoration:underline;">Bitumen Operations:</span></h1><p>WOQOD Chief Executive Officer Summarised the matter saying that, despite the circumstances created by the unjust blockade: </p><p>•             WOQOD ensured uninterrupted supply of Bitumen in the local market.</p><p>•             Sales increased by 275% from 2016.</p><p>•             WOQOD local market share increased from 60% to 90%.</p><p>•             Bitumen logistics and supply chain were strengthened to meet the increasing demand, where WOQOD is currently engaged in the phased construction of bitumen storage facilities at Mesaied Port.</p><p> </p><h2>Bunker Distribution at Qatari Ports increased to 10 times during the year 2017</h2><h1><span style="text-decoration:underline;">Bunker Operations:</span></h1><p>•             Engineer Al-Muhannadi pointed out that, WOQOD is currently performing bunker operations from all Qatari Ports and within Qatari territorial waters based from bunkering facilities at Ras Laffan, owned by Qatar Petroleum. Bunker Operations from the facilities, started in 2017 in collaboration with Qatar Petroleum, where bunker distribution increased to 10 times in comparison with quantities distributed in 2016.</p><h2>Complete shift to the use of SHAFAF Cylinders effective 30/06/2018</h2><h1><span style="text-decoration:underline;">LPG Operations</span></h1><p>•             WOQOD Chief Executive Officer explained that, the product consumption quantities has been on the rise since the year 2015. LPG sales increased in 2017 by 17% from the sales achieved in 2016. Cylinder sales increased by 7%, where WOQOD is launching promotional offers for SHAFAF Cylinders to persuade customers to phase out high risk steel cylinders and finally replace them with safe high quality SHAFAF cylinders by 30/06/2018.</p><h2>Collaboration with Qatar Petroleum to operate new natural gas stations</h2><h1><span style="text-decoration:underline;">Natural Gas</span></h1><p>•             WOQOD is supplying natural gas to the factories located in the new industrial area. WOQOD is also operating a station for compressed natural gas (CNG). Collaboration is on going with QP for managing and operating new CNG Stations across the state of Qatar as WOQOD is managing and distributing the product from a pilot station since the year 2012.</p><h2>Renewal of the Exclusive Contract for Vehicle Technical Inspection with the Ministry of Interior  </h2><h1><span style="text-decoration:underline;">Vehicle Technical Inspection</span></h1><p>•             WOQOD is performing vehicle technical inspection services through its affiliate company (FAHES) using the most advanced modern inspection techniques. It is worth mention that the affiliate company; WOQOD  Vehicle Technical Inspection Company (FAHES) started operations in the year 2009 with a single station at industrial area, however WOQOD implemented vehicle technical inspection projects in pursuit of provision of the highest standard of services to the state and the community at large, and achieving customer satisfaction. The number of vehicle technical inspection centers has reached 12 centers,comprising 7 permanent centers and 5 mobile stations. Construction work for heavy vehicles inspection center at Al Mazrooaa is currently underway. The company is planning to build another center at Mowate City.</p><p>•             As to the legal framework for inspection services, the exclusive contract for vehicle technical inspection service with the Ministry of Interior has been renewed for a further period of 5 years.</p><h2>WOQOD will supplement its fleet of owned vessels in line with the requirements of the local market</h2><h1><span style="text-decoration:underline;">WOQOD Marine:</span></h1><p>•             The affiliate company, WOQOD Marine is primarily rendering support services to company operations in the field of bunker fuel and bitumen, where it performs all operations pertaining to the import and transport of bitumen to the State of Qatar, and distribution of bunker fuel within the Qatari ports and territorial waters. Due to the increase realised in the distribution and sale of these two products, the vessel utilization rate increased to 92% in the year 2017 compared to 78% achieved in the year 2016. These vessels effectively contributed- and are still contributing-to the breaking of the grip of the unjust blockade, by supplying and distributing a significant part of the country requirement of bitumen product.</p><p>•             The company is planning to supplement its fleet by more bitumen and bunker fuel carrying vessels in accordance with the requirements of the local Qatari market.  </p><h1><span style="text-decoration:underline;">Other Non-Fuel Activities</span></h1><p>•             Non-fuel sales realised a 17% increase in the year 2017 in comparison with the year 2016. The  company introduced new lubricant brands compliant with car manufacturers recommendations, including Castrol, Shell and Total. Dry cleaning services were also introduced in some fuel stations.</p><h1><span style="text-decoration:underline;">Cost optimization and profitability fostering policy</span></h1><p>•             Engineer Al-Muhannadi pointed out that, WOQOD has a multi-initiative policy for cost optimization and profitability fostering, through achieving efficiency and effectiveness in company operations and activities. Some of these initiative were implemented during the year 2017, and the rest will be completed in this year 2018, particularly in the areas of inventory and engineering services.</p><p>•             WOQOD has completed a comprehensive reorganization in order to make the company more efficient and effective. </p><p>​WOQOD has a number of initiatives and basic future plans in pursuit of providing the highest standard of services to the state and the community at large, and enhancing WOQOD core activities to meet shareholders expectations and achieve customers satisfaction.</p><p>Finally, Engineer Al-Muhannadi expressed his thanks and appreciation to all government entities, public and private institutions, honored shareholders, board of directors and all WOQOD employees for their sincere efforts for serving and developing the company, and he vowed to exert more effort and deliver the utmost during the forthcoming period in furtherance of company future objectives.  </p>Qatar Fuel (WOQOD) Extraordinary General Assembly (EGM) Chaired by Mr. Ahmed Saif Al-Sulaiti, Chairman of the Board of Directors held its meeting on S6/9/2018 10:00:00 PM435
woqod fahes renew vehicle inspection contract with MOI for five years<p style="text-align:right;"><font face="Sakkal Majalla" size="5"></font> </p><p> <font size="5">Engineer Saad Rashid Al Muhannadi Qatar Fuel (WOQOD) Chief Executive Officer stated that; </font></p><font size="5"><font size="5"> </font><p>"WOQOD Vehicles Inspection (FAHES) is pleased to announce that it has renewed its contract with Ministry of Interior (MOI) for carrying out the mandatory annual vehicle inspections for a period of five years (2018 – 2023). </p> <p>During its past tenure, WOQOD Vehicles inspection (FAHES) has delivered distinguished service by building more stations with latest global technology and making it more convenient for its valued customers, through the implementation of single - window system. This resulted in reducing the travelling and waiting time for renewal of registration certificate, enhancing customer satisfaction by investing in its workforce through technical training to enable it to keep up with the latest developments in testing techniques and vehicle models and technologies. </p> <p>Engineer Al Muhannadi Further stated: </p> <p>"We started the inspection service in 2003 with one permanent station in industrial area, comprising 6 lanes and 3 mobile units. Today we have geographically expanded and have 7 permanent stations across Qatar (Industrial area, Mesaimeer west, Wadi Al Banat, Al Wukair, Al Wakra Al Shahaniya and Al Egda) comprising 36 lanes and 5 mobile units. WOQOD recognizes that the need to build more stations is imminent with the constantly growing population, in line with Qatar Vision 2030. Mindful of this, the contract for the construction Fahes Al Mazrooaa center has been awarded, and WOQOD is currently engaged in the planning for Fahes Mowater City project. </p> <p>We thank the Ministry of Interior and the people of Qatar for reposing trust in us since our inception in 2003 and we feel proud to play an active role in enhancing the traffic safety in the State of Qatar by ensuring safety and technical fitness of vehicles used on our roads. We highly value our partnership with the Ministry of Interior in pursuit of providing the highest level of service to our beloved country and to all the people living across the country". </p> <p>Date: 22 May 2018 </p> <p>Place: Doha </p></font>WOQOD Vehicles Inspection (FAHES) is pleased to announce that it has renewed its contract with Ministry of Interior (MOI) for carrying out the mandato5/22/2018 10:00:00 PM430
“WOQOD” Inaugurates Madinat Al Mawater Petrol Station<p>​</p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 6pt;text-align:justify;"><font face="Calibri"><font color="#000000"><span style="line-height:105%;font-size:13pt;"><strong>Doha, 24 May, 2018 – </strong></span><span style="line-height:105%;font-size:13pt;">As part of the company’s ongoing expansion plans to serve all areas in the country, Qatar Fuel “WOQOD” opened its 63rd service station in Madinat Al Mawater in Rawdat Rashid village. <span><font size="4"> </font></span></span></font></font></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:12pt 0in 6pt;text-align:justify;line-height:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri">On this occasion, WOQOD’s Chief Executive Officer, Eng. Saad Rashid Al Muhannadi, said: </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:12pt 0in 6pt 0.5in;text-align:justify;line-height:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri">“We are pleased to open this new station in Madinat Al Mawater to meet the requirements. The new opening reflects our ambitious plans to expand our network and accessibility within Qatar, in order to cater to the growing demand of the local market and ensure that high quality products and services are availed to all our customers at their convenience across the country. WOQOD’s team is sincerely grateful to all public and civil authorities <span><font size="4"> </font></span>that contributed to the completion of this project”. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri"> </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri">WOQOD is currently engaged in the implementation of <span><font size="4"> </font></span>27 petrol station projects, most of which are expected to be operational within this year. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:normal;"><font face="Calibri"><font color="#000000"><span style="font-size:13pt;">With the addition of Madinat Al Mawater petrol station, the company’s branded stations network increased to 50 stations. The new station extends over an area of 7,403 square meters, and has 3 lanes that will serve Madinat Al Mawater and its neighbourhood. </span><font size="4"><span> </span></font></font></font></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 8pt;text-align:justify;line-height:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri">The petrol station will offer round-the-clock services including Sidra convenience store, auto wash facility, auto repair, tire services, and sale of LPG cylinders, gasoline and diesel 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:normal;"><span style="font-size:13pt;"><font color="#000000" face="Calibri">WOQOD’s expansion strategy seeks to increase the total number of service stations operated by the company to 100 by 2020, thanks to the provision of necessary land by the concerned authorities.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p align="center" style="margin:0in 0in 8pt;text-align:center;line-height:normal;"><span style="font-size:13pt;"><strong><font color="#000000" face="Calibri">-Ends-</font></strong></span></p><font color="#000000" face="Times New Roman" size="3"> </font>Qatar Fuel “WOQOD” opened its 63rd service station in Madinat Al Mawater in Rawdat Rashid village. 5/22/2018 10:00:00 PM431
Third EGM<p><strong><font size="4">QATAR FUEL COMPANY (WOQOD) Q.P.S.C. </font></strong></p><strong><font size="4"><strong><font size="4"> </font></strong><p>EXTRAORDINARY GENERAL MEETING INVITE </p></font></strong>QATAR FUEL COMPANY Third EGM5/22/2018 10:00:00 PM432
SECOND EGM<p>​Second EGM</p>EGM5/8/2018 10:00:00 PM429
EGMEGM Invitation5/6/2018 10:00:00 PM428
BOD Meeting on 29/04/2018<p>​</p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;"><span style="line-height:150%;font-size:16pt;"><strong><span style="text-decoration:underline;"><font color="#000000" face="Calibri">Press release</font></span></strong></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;"><font color="#000000" face="Calibri" size="5">Eng. Saad Rashid Al-Muhannadi Qatar Fuel Chief Executive Officer has announced that Qatar Fuel Company Board of Directors held its third meeting for the year 2018 at 1:30 pm. on Sunday, 29/04/2018 at Qatar Fuel Tower West Bay, presided over by Mr. Ahmed Saif Al Sulaiti Chairman of the Board. The Board discussed and approved the unaudited financial statements and operational activities results of the Company during the first quarter of 2018 ending 31/03/2018.</font></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">Eng. Al-Muhannadi stated that the net profit of the company at the end of the first quarter of 2018 attributable to WOQOD shareholders amounted to QR 301 million compared to QR 176 million for the same period in 2017, with an increase of QR 125 millions, or 71%. He further went on to explain that the increase in profits is attributable to the efforts exerted to enhance efficiency in the works, activities and operations of the company, as well as the concomitant efforts to reduce expenses according to the study carried out and implemented starting First Quarter of 2017, as well as the increase in other income. He added that the operational expenses were reduced by 7% during the first quarter of 2018 compared to the corresponding period in 2017.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">With regard to earning per share, Eng. Al-Muhannadi said that it had reached QR 3.03 by the end of first quarter 2018 compared to QR 1.77 for the first quarter of 2017.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;"><font color="#000000" face="Calibri" size="5">Concerning the company's projects, Eng. Al-Muhannadi explained that the company's plan for 2018 aims to build 30 more petrol stations, including 10 mobile stations throughout the State of Qatar. The first quarter of 2018 witnessed the opening of two stations in Al-Wasil and the Old Salata. Furthermore a third station has just been opened  in the Thumamah area. He further announced that there are currently 17 petrol stations under construction in various parts of the country, most of them are due for completion during this year 2018.</font></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">Eng. Al-Muhannadi also said that 40 additional sites are in various stages of preparation, in order to qualify them for the construction of new petrol stations. </font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">With regard to the company's operations, Al-Muhannadi explained that there is substantial growth in sales of most of the products. The average increase in the total sales of petroleum products was 4% compared to the first quarter of 2017, while the sales of aviation fuel alone increased by 10%, bitumen by 162.5%, butane gas by 13.6% and HFO by 100%.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">Retail sales of petroleum products increased by 19% while non-oil retail sales, including Sidra stores sales, grew by 11%. He also noted that FAHES operations has increased by 1%, and the transport distance of petroleum products has witnessed an increase by 2.3%.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;text-align:justify;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">In conclusion, Eng. Al-Muhannadi noted that Qatar Fuel has completed its internal restructuring process according to the abovementioned study. He pointed out that Qatar Fuel intends, in line with the official directives of the State of Qatar, to raise the maximum limit for individual ownership in WOQOD share capital to 1% and raise the permissible percentage of ownership of non-Qataris to 49% of WOQOD share capital. For this end he further stressed that Qatar Fuel is currently taking the necessary legal procedures for the implementation of the new ownership percentage rates before the end of the first half of 2018, assuring that the management of the company and its Board of Directors will undertake every effort to stimulate and build a robust and sustainable downstream Oil and Gas distribution Sector within the State of Qatar through the utilization and implementation of latest international standards in furtherance of public policy objectives in modernizing general services infrastructure and utilities, and providing the best services to the State of Qatar, its citizens and residents while achieving the best results for its shareholders.</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p align="center" style="margin:0in 0in 0pt;text-align:center;line-height:150%;"><span style="line-height:150%;font-size:14pt;"><font color="#000000" face="Calibri">-End of Report-</font></span></p><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin:0in 0in 0pt;"><font color="#000000" face="Calibri" size="3"> </font></p><font color="#000000" face="Times New Roman" size="3"> </font>Eng. Saad Rashid Al-Muhannadi Qatar Fuel Chief Executive Officer has announced that Qatar Fuel Company Board of Directors held its third meeting for t4/29/2018 10:00:00 PM425
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

 

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