Al-Muhannadi: WOQOOD gas stations will double within three years

 Monday, June 11, 2018

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%.

 

It is worth noting that WOQOD attempted to convene its Extraordinary 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.

 

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.

 

The amended Article 9-1 of WOQOD Articles of Associations reads as follows:‎

‎"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), Qatar Foundation for ‎Education, Science and Community ‎Development, 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.‎

 

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”.

 

  • 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.  

  • 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.

  • 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.  

  • 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.  

  • 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.  

  • 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.

  

WOQOOD Petrol Stations will double within three years

  • 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.  

  • 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.

In the field of Gas Stations, Mr Al-Muhannadi spoke 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 A- 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.

 

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.

 

In respect of future policy for gas stations building, Mr Al-Muhannadi further explained that WOQOOD is currently deploying all of its efforts and resources to implement its ambitious plan to double the number of its gas stations within three years to reach 120 gas stations by the end of 2020.

 

 

Increase in dispensers numbers at WOQOD petrol stations

 

Engineer Al-Muhannadi spoke about the 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.

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