As profit jumps, Woqod is set to build 30 more fuel stations in Qatar this year

Qatar Fuel (Woqod), which has been in charge of operating fuel pumps in the country, has reported a net profit of QR1.16bn for 2018, an increase of 20% compared to 2017’s net profit of QR964m.

The company’s earning per share (EPS) amounted to QR11.7 compared to QR9.7 for the preceding year, reported Qatar Tribune.

The results were announced at the company’s board meeting, chaired by Woqod Chairman Ahmed Seif Al Sulaiti, in Doha.

Woqod CEO Saad Rashid Al Muhannadi said the positive results were a result of measures taken for the enhancement of efficiency and capability in company business activities and operations.

On the back of the strong show, WOQOD is set to build 30 more fuel stations in Qatar this year. Currently, the entity operates around 84 fuel stations across the nation, reported Gulf Times.

Besides building new fuel stations, Woqod has also enhanced the capability and efficiency of stations by increasing the number of dispensers (in stations currently under construction) by 61%.

Woqod is expected to keep adding new dispensers this year and in the coming years in order to reduce congestion and queues of vehicles at fuel stations.

He added that Woqod would not hesitate to build fuel stations at any location and at any time in case of availability of land and the need for the project.

As for Fahes — Woqod’s technical inspection (vehicle inspection) company, he said the company added a permanent facility at Al Shahaniyah along with another temporary centre to its network last year

Currently, there are 12 operating centres in the country including five mobile units. Al Mazrooaa facility will be added in the next few months, and another one at Mowater city will follow at a later stage.

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