Doha: Qatar Fuel's (Woqod) first petrol station is ready to be opened later this month. Located in Missemir west, the station has been built at a cost of QR12.5m.
This was disclosed by the Second Deputy Premier and Minister of Energy and Industry, H E Abdullah bin Hamad Al Attiyah, at the annual general meeting (AGM) of the shareholders of Woqod here on Sunday.
Work on a new petrol station (in Missemir east) will start soon. Al Attiyah said that by this year, Woqod will be able to operate four petrol stations of a total of 50 planned.
Work on the projects were delayed due to reasons beyond the company's control.
The company has awarded EPC contract for bitumen storage and loading facilities in Mesaieed to a global company at a cost of QR14m.
Al Nuaija petrol station project is under tendering process while the one in Al Gharrafa is at design stage.
The tendering process for design and engineering consultancy for the proposed Woqod Tower is finalised. The 30-storey tower is to be ready by the middle of 2008.
Several other projects of the company are progressing on schedule.
Except for kerosene, Woqod witnessed increase in the sale of all other products, namely, diesel, jet fuel, super and premium brands of fuel. Maximum increase was witnessed in the sale of diesel last year as compared to 2004 (61 per cent).
Net profits of the company rose to QR223.4m last year as against QR90.4m in 2004. Earning per share (EPS) improved to QR7.45 as against 3.01 in 2004. Assets increased to QR1.6bn from QR849m in 2004.
The company announced distribution of 30 per cent cash dividend for 2005 to the shareholders. The equity holders approved the company's financials at the AGM.
© The Peninsula 2006
