DOHA: The demand for petroleum products rose 14.7 percent to 1,870 million litres in the first quarter (Q1) of this year over the same period of 2014, Woqod said yesterday while reporting its net profit for the quarter which was QR237m ($65.1m).
The net profit grew 3.5 percent over Q1 of 2014 while earning per share (EPS) amounted to QR2.81 as against QR2.71 for last year.
Woqod (Qatar Fuel), local petroleum products distributor, said in a statement that sales expected to increase significantly in the coming period after the commissioning of Hamad International Airport (HIA).
Liquefied petroleum gas (LPG, which is cooking gas) sales rose 8 percent in Q1 of this year and the number of refilled and sold cylinders 1.3 million units for metal and 472,000 for Shafaf (transparent).
The company’s board of directors met here yesterday headed by chairman Sheikh Saoud bin Abdulrahman bin Hassan Al Thani to discuss its financials for Q1 of 2015.
Woqod’s CEO, Ibrahim Jaham Al Kuwari announced after the board meeting that aside from the company’s financials, the directors reviewed several current and future projects as well.
Total assets of the company reached QR9.4bn ($2.6bn) as it decreased by 10 percent from last year’s figures, with total shareholders’ equity being QR6.1bn with a 9.4 percent decrease compared to last year.
DOHA: Woqod is in talks with the Ministry of Municipality and Urban Planning to finalise 24 locations across the country to open new petrol stations.
Four new petrol station projects are at tendering stages while 11 are under construction in different areas, including Aqla in Lusail, Al Wakrah, Al Dhakheerah, Shamal, New Rayyan, Musahabia, Sodanatheel, Ein Sinan, Bin Dirham, Sumaisma and Hamad International Airport (HIA). These stations are expected to be opened during this year or early next year, Woqod said in a statement.
The Peninsula
