Woqod to Add 30 More Petrol Stations
Wednesday, December 20, 2017
Gulf Times -- Woqod (Qatar Fuel) will add 30 new petrol stations, including 15 mobile fuel dispensing facilities in the country in 2018, the company said as it approved a capital expenditure budget of QR816mn for new projects next year.
This was announced by Woqod Chief Executive Officer, Saad Rashid al-Muhannadi, after a meeting of the company’s board of directors presided over by Chairman Ahmad Saif al-Sulaiti on Wednesday.
Tenders for the construction of another 18 petrol stations will be awarded during the first quarter of 2018, Al-Muhannadi said, noting that the company plans to have up to 122 petrol stations by 2022.
With regard to Fahes (vehicle technical inspection centers), Al-Muhannadi said the total number would go up to eight in 2018. Two new centers - at Al Sheehaniya and Al Mazrooua - will be added next year to the current Fahes network of six in the country. Al Sheehaniya will be added in early 2018, while tender for the construction of Fahes center at Al Mazrooua will be issued in the first quarter of 2018.
He said the Woqod budget proposal included the purchase of two 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 parties concerned. The budget has also provisioned for expenditure in terms of maintenance, asset integrity, health, safety and environment.
Woqod board of directors’ has approved the current and future business plan and company’s “strategic priorities” during 2018-2022. During the period, Woqod will embark on an “ambitious plan” for increasing its market share in the 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.
The company intends to increase its stake in non-petroleum activities provided for by its Articles of Association by 15% a year until 2022, in addition to increasing the number of CNG stations to meet the requirement as part of the comprehensive government plan up to 2022.
Woqod also said it “intends to carry on with its ambitious plan during 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.”
This, it said will be realized 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.”