Qatar Petroleum and Woqod have signed a jet fuel product sale and purchase agreement "incorporating the contracting terms and conditions including the product pricing mechanism for all stakeholders."

This was announced by Woqod chief executive officer Saad Rashid al-Muhannadi here on Thursday.

Al-Muhannadi pointed out that this mechanism has been determined following a specialised study conducted by Qatar Petroleum.

“Upon the results of the study and pursuant to the powers given to QP to determine the prices of petroleum products, Qatar Petroleum has underlined the pricing mechanism for jet A-1 fuel, specifying the appropriate margins for the various stakeholders,” the statement said.

Al-Muhannadi said, “Woqod, on its part, will sign appropriate contracts with the different stakeholders for regularising and managing the operations for the sale and purchase of jet fuel product through jet fuel facilities located at Hamad International Airport. Those contracts will be effective as of January 1, 2019.”