Thursday, Feb 23, 2012
BEIRUT (Zawya Dow Jones)--Qatar Fuel Co., or Woqod, an affiliate of state-owned Qatar Petroleum, is in talks with the local authorities to open a seaport in Al Shamal harbor and plans to expand its bitumen plant at Mesaieed, Doha-based Asharq daily reports Thursday citing an executive.
Woqod is also evaluating feasibility studies for some investment projects in Europe through medium or long-term joint ventures Mohamed Al Sobai, the company's vice chairman and managing director, said according to the paper.
Sobai, who was talking on the occasion of his company's opening of a local fuel distribution station at a total cost of 22 million Qatari riyals ($6.04 million), said that Woqod is expected to achieve good financial results in the first quarter, the daily reports.
The company plans to launch six additional fuel distribution stations in the country this year with the first opening within three weeks, Asharq cites him as saying.
Newspaper website: http://www.al-sharq.com/articles/more.php?id=280169
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
23-02-12 0737GMT
