Qatar Fuel (Woqod) is planning to have a total of 88 petrol stations by the end of this year, and as many as 120 in the next three years as part of the company’s ambitious expansion plan in the local market, Woqod CEO Saad Rashid al-Muhannadi has said.
He was speaking to reporters on Sunday on the sidelines of the Woqod’s annual general meeting, presided over by chairman Ahmad Saif al-Sulaiti.
“It is highly expected that the number will rise to 88 gas stations by the end of 2018, where 30 additional gas stations, 10 of which are mobile, will be built,” al-Muhannadi explained in a statement issued after the meeting.
The Woqod CEO said the company's current share in the fuel retail market reached 64% compared to only 48% in 2016, and stressed that it will rise to 85% by the year 2020.
“This year witnessed the building of four permanent gas stations in Al Egla, New Slata, Al Thummama, and Motor City areas, in addition to two mobile gas stations,” al-Muhannadi said.
In addition to eight mobile gas stations, 16 other permanent gas stations will be built this year 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 Wakrah 2, Hazm Al Markhiya, Al Froosh, Al Ezzaiziya, HIA, and Wadi Aba Saleel, he noted.
Al-Muhannadi said: “Woqod will not hesitate to build any gas station in every location where the plot of land is to be allocated, whether remote and irrespective of the economics of the same…Woqod is looking forward for more land allocation in Doha City for gas stations.
Al-Muhannadi also said Woqod will install 158 or 51% additional dispensers at petrol stations this year to compensate the shortage created by the decommissioning of some privately-owned stations.
On Woqod’s mobile petrol stations, al-Muhannadi said: “The mobile petrol stations are there mainly because of the closure of private petrol stations. And even the return on investments on these mobile petrol stations is very low.
“I think once we achieve over 110 or 115, we will phase out these mobile petrol stations but in the meantime we will still keep them to make sure that we still deliver customer service.”
On petrol station growth and fuel growth trends, al-Muhannadi said Woqod “is determined to double the number of petrol stations by effecting a 100% increase from 2018 to 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%.” To Page 4
Woqod raises non-Qatari ownership to 49%
Qatar Fuel’s annual general meeting, president over by chairman Ahmed Saif al-Sulaiti, has amended yesterday Article 9-1 of Woqod’s Articles of Association to raise non-Qatari ownership to 49% of the company’s share capital and to raise the limits of private ownership to 1%.
Woqod CEO Saad Rashid al-Muhannadi said: “The amendment aims 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 the 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.”
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