Doha, Qatar: Qatar Fuel Company (Woqod) announced that its Board of Directors chaired by Ahmed Saif Al-Sulaiti approved among other things the financial results of Woqod Group for the first half (H1) ended on 30 June 2026.
Woqod Group’s net profit for the period (excluding minority rights) amounted to QR398m, compared to an amount of QR460m achieved in the same period of the year 2025, with a decrease of QR62.7m, representing a decrease of 14%. The earnings per share for the period amounted to QR0.40, compared to QR0.46 for the same period of last year. The decrease in net profits and earnings per share is attributed to the decrease in sales volume, due to the prevailing geopolitical conditions in the region.
As for the petrol stations, Al-Muhannadi explained that awards have been placed for the construction of four stations, while numerous others are currently under tendering process, pointing out that Woqod has a dynamic plan for the construction of petrol stations that is implemented according to the requirements of the immediate need for petrol stations.
On the other hand, Al-Muhannadi added that the Board of Directors decided to submit a recommendation to the Extraordinary General Assembly to amend some clauses of the Articles of Association to comply -Inter alia- with the new Corporate Governance Code for Listed Entities, issued by the Board of Directors of the Qatar Financial Markets Authority (QFMA) Resolution No. 5 of 2025 after obtaining the necessary approvals from the official authorities
In conclusion, Al Muhannadi affirmed that WOQOD Group will move forward with enhancing the rights of its valued shareholders and all stakeholders by taking appropriate initiatives in developing the petroleum products distribution sector within the framework of the state’s general policy of modernization, development and strengthening the pillars of the country’s national economy, adding that the company will exert all its efforts to maintain the security and safety of its assets and employees in order to achieve resilience and continuity of its business and operations.
