DOHA: A pipeline project to transport JET-A1 fuel from the petroleum refinery in Mesaieed to the New Doha International Airport (NDIA) has reached the final stages, Mohammed Khalifa Turki Al Sobai, Vice Chairman and Managing Director of Qatar Fuel (Woqod) said here yesterday.
Speaking at the Annual General Meeting of the company's shareholders, Al Sobai said the project being undertaken by Qatar Petroleum for Woqod is progressing as planned and trial operation is expected to begin during the second half ofthis year.
Another project being executed by QP for Woqod is the 42km long, 18-inch pipeline to pump all petroleum products to the Doha Depot from the petroleum refinery in Mesaieed. It is near completion and is expected to be fully operational during the second half of this year.
Besides, a project is currently being implemented to supply ships docking at Ras Laffan with diesel and water.
These services will be offered at the seven docks within the port. The project is advancing and is slated for completion during the third quarter of this year, he said.
Meanwhile, Woqod has established a comprehensive plan to market natural gas through a private pipeline whereby the Industrial Area Authority for Small and Medium-Scale Industries is putting the final touches on a 76km natural gas pipeline inside the Industrial Area.
All the trials have been completed and the project is expected to become operational in the third quarter of 2011.
QP will supply the project with the required quantities of natural gas.
Woqod will manage and operate the project on behalf of QP by using its infrastructure and technical and administrative expertise and will cover the Industrial Area in the first phase.
Disclosing the financial results for the year ending December 31, 2010, Deputy Prime Minister, Chief of the Emiri Diwan and Chairman of Woqod, H E Abdullah bin Hamad Al Attiyah said the company has managed to maintain high net profits that exceeded QR 1.074bn compared to QR 870m in 2009, showing a 23.4 percent rise.
Taking into account the increase in paid-up capital of the company during 2009, which was 10 percent, the earning per share (EPS) for the fiscal year increased by 21.2 percent to QR 31per share.
The shareholders of Woqod approved cash dividends of QR 346.5m at the rate of 100 percent of the value of the paid-up nominal capital in the form of QR10 per share, in addition to 20 percent bonus share (2 shares per 10 outstanding shares).
© The Peninsula 2011
