15 Dec 2016

Qatar Fuel (Woqod), the main retailer of petroleum products in the country, has announced to make a capital expenditure of QR605m on several new projects during the year 2017, which will largely be spent on developing more fuel stations and other related facilities across the country.

The decision was taken yesterday by the Board of Directors of Woqod at its sixth Ordinary Meeting, which was presided over by the Company’s Chairman, Sheikh Saoud bin Abdulrahman Al Thani. The meeting was held to discuss the 2017 Budget.

Ibrahim Jaham Al Kuwari, Woqod’s CEO, said that the Board of Directors discussed the estimated budget for 2017 which includes Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) and approved it . During this year, Woqod will focus on accelerating the process of commissioning new petrol stations, other projects and introducing new products and services, which contribute to additional income sources for the Company.  Al Kuwari said that the Board also discussed other issues related to "Delegation of Authority Manual", " Risk Register and Mitigation" and gave its directives in this regard.

© The Peninsula 2016