Woqod

Last updated
Qatar Fuel Company (WOQOD) Q.P.S.C.
Type Public
QE:  QFLS
Industry Oil and gas
Founded2002 (2002)
Headquarters,
Area served
Qatar
Key people
Saad Rashid Al Muhannadi (CEO) [1]
Products Fuels
ServicesRetail sale
Wholesale
Website www.woqod.com

Qatar Fuel Company Q.P.S.C., d/b/a WOQOD, is a Qatari oil and gas company focused on the distribution and sale of refined petroleum products supplied by Qatar Petroleum. [2] It is the only fuel retailer in Qatar [3] and is publicly listed on the Qatar Stock Exchange. [4] As of Jan 2022, the company maintained 112 filling stations throughout the country. [5] Aside from filling stations, the company operates vehicle workshops, tire stations and convenience stores. [6] The company also has numerous subsidiaries. [7]

Contents

History

A WOQOD filling station in Al Mamoura mHT@ wqwd - panoramio (1) (cropped).jpg
A WOQOD filling station in Al Mamoura
Aerial view of a WOQOD filling station in Onaiza View of Onaiza in Doha from Dareen Tower - Woqod Station.jpg
Aerial view of a WOQOD filling station in Onaiza

Qatar Fuel was formally created by virtue of Emiri decree no. 5 issued on 10 February 2002. [2] Its assets were transferred from Qatar Petroleum's subsidiary National Oil Distribution Company (NODCO), which managed a refined petroleum product supply depot in Abu Hamour. In 2009, Qatar Fuel established a liquefied petroleum gas plant in Doha's Industrial Area. [7]

During an Extraordinary General Assembly held in June 2018, the company made the decision to increase non-Qatari ownership to 49% in order to attract investments. A budget of QR 634 million was allocated for 2018 to be earmarked for the construction of new filling stations and the development of currently existing ones. [1] According to company officials, plans are in place to install 88 filling stations by the end of 2018 with a total of 100 by 2020. [8]

Shipping

The company is involved in shipping bitumen. In 2014, the company reached an agreement with Ashghal (The Public Works Authority) to import 130,000 tonnes to be used in construction works. At the time the agreement was reached, Qatar Fuel had two bitumen tankers, with an additional $6 million ship being purchased in November 2014. [9]

Sidra stores

Beginning in 2006, Qatar Fuel has opened several convenience stores under the name Sidra. The company maintains upwards of 30 Sidra convenience stores, the majority of which are associated with filling stations. [10] In 2014, following a general assembly meeting, it was announced that Qatar Fuel had begun the process of upgrading all of its Sidra stores into supermarkets. [11]

Subsidiaries

Among the company's subsidiaries are Qatar Jet Fuel Company (Q-JET), WOQOD Vehicle Inspection (FAHES), WOQOD Marine Services and WOQOD International for Foreign Investment. [7]

FAHES

Qatar Fuel operates vehicle inspection centers under its FAHES brand. Vehicle inspection services were initially offered since 2003 at the FAHES center in the Industrial Area of Doha. [12] The first FAHES center outside the Industrial Area was opened in Wadi Al Banat in December 2014, with the second center coming in January 2015 in Mesaimeer. [13]

Related Research Articles

Mobil Corporation was an American oil company that merged with Exxon in 1999 to form ExxonMobil. Prior to its merger with Exxon, Mobil was one of the Seven Sisters that dominated the global petroleum industry from the mid-1940s until the 1970s. As one of the 34 original companies to descend from the breakup of Standard Oil, Mobil was originally known as the Standard Oil Company of New York (Socony). Mobil credits itself with being the first company to introduce paying at the pump at its gas stations, as well as the first company to introduce a mobile payment device, today known as Speedpass.

Filling station Facility which sells gasoline and diesel

A filling station, also known as petrol station or gas station (US), is a facility that sells fuel and engine lubricants for motor vehicles. The most common fuels sold in the 2010s were gasoline and diesel fuel.

<i>ampm</i> US multinational convenience store chain

ampm is a convenience store chain with branches located in several U.S. states, including Arizona, California, Nevada, Oregon, Washington and in several countries such as Costa Rica and Brazil. The brand pulled out of the Eastern United States in 2012.

Qatar Foundation for Education, Science and Community Development is a state-led non-profit organization in Qatar, founded in 1995 by then-emir Hamad bin Khalifa Al Thani and his second wife Moza bint Nasser. Qatar Foundation (QF), chaired by Moza bint Nasser, has spearheaded Qatar's endeavors to establish itself as a leader in education, science, and cultural development on both a regional and global scale.

Aral AG German petroleum company

Aral AG is a German oil company established in 1898 as Westdeutsche Benzol-Verkaufs-Vereinigung GmbH. The company is currently owned by British conglomerate BP after it was purchased in 2002.

Al Rayyan Municipality in Qatar

Al Rayyan is the third-largest municipality in the state of Qatar. Its primary settlement is the city of the same name, which occupies the entire eastern section and largely surrounds Metropolitan Doha and functions as a suburb. The vast expanse of mostly undeveloped lands in the south-west also falls under the municipality's administration.

Kuwait Petroleum Corporation State-owned oil company of Kuwait

Kuwait Petroleum Corporation is Kuwait's national oil company, headquartered in Kuwait City.

Lusail Planned city in Qatar

Lusail is a planned city in Qatar, located on the coast, in the southern part of the municipality of Al Daayen. Lusail is located about 23 kilometres (14 mi) north of the city centre of Doha, just north of the West Bay Lagoon, on over 38 square kilometres (15 sq mi) and will eventually have the infrastructure to accommodate 450,000 people. Of these 450,000 people, it is estimated that 250,000 or fewer will be residents, 190,000 will be office workers and 60,000 will be retail workers.

The Institute of Petroleum (IP) was a UK-based professional organisation founded in 1913 as the Institute of Petroleum Technologists. It changed its name to the Institute of Petroleum in 1938. The Institute became defunct when it merged with the Institute of Energy in 2003 to form the Energy Institute.

Education City Campus in Al Rayyan, Qatar

Education City is a development in Al Rayyan, Qatar. Developed by the Qatar Foundation, the 12 square kilometres (4.6 sq mi) property houses various educational facilities, including satellite campuses of eight international universities.

Naftna Industrija Srbije

Naftna Industrija Srbije is a Serbian multinational oil and gas company with headquarters in NIS building, Novi Sad, Serbia. NIS is one of the most profitable companies in Serbia and one of the largest domestic exporters. It employs around 11,000 people in Serbia and the region. As of May 2022, Gazprom Neft is the largest shareholder with 50% of NIS shares, followed by 29.87% owned by the Government of Serbia, 5% owned by Gazprom and rest by minority shareholders.

Mesaimeer SC Sports club in Qatar

Al-Mesaimeer Sports Club is a Qatari multi-sports club based in Mesaimeer. Its football department plays in the Qatari Second Division. It was previously known as Al-Nahda Sports Club, then Al-Shoala, and finally, today it is known as Mesaimeer Sports Club. It was promoted to the first division of Qatari football for the first time in history in the 2014–15 season.

QatarEnergy Qatari state-owned oil company

QatarEnergy, formerly Qatar Petroleum (QP), is a state owned petroleum company of Qatar. The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage. The President & CEO is Saad Sherida al-Kaabi, Minister of State for Energy Affairs. The company's operations are directly linked with state planning agencies, regulatory authorities, and policy making bodies. Together, revenues from oil and natural gas amount to 60% of the country's GDP. As of 2018 it was the third largest oil company in the world by oil and gas reserves.

Qatar–Turkey relations Bilateral relations

The State of Qatar and the Republic of Turkey established bilateral relations in 1972. There has been ongoing cooperation and dialogue in regional and international issues since the 2010s, particularly in the Syrian Civil War and the Egyptian Crisis. Both countries also support the same groups in post-Gaddafi Libya. Most recently, Turkey provided diplomatic and food support to Qatar during the 2017 Qatar diplomatic crisis. Some political analysts claim that bilateral relations are mostly limited to political and military affinity, referring to the low trade volume, lack of trade agreements and absence of Turkish think tanks in Qatar.

Mesaimeer is a district in the municipality of Al Rayyan in Qatar. Located south-west of Doha, it shares borders with the Doha Industrial Area to the east, Umm Al Seneem, Abu Hamour and Al Mamoura to the north-west, Al Thumama to the east, and Wadi Aba Saleel and Jery Musabbeh to the south-east.

Msheireb Downtown Doha Planned city in Doha, Qatar

Msheireb Downtown Doha is a planned city in Doha, Qatar being constructed in place of the current district of Mushayrib. Initial construction began in January 2010. Located in the downtown area of Qatar's capital city, it is set to occupy 310,000 sq m with the total cost of construction amounting to approximately $5.5 billion. It was launched in six phases by Msheireb Properties, a subsidiary of Qatar Foundation.

Abu Hamour District in Al Rayyan, Qatar

Abu Hamour is a district in the municipality of Al Rayyan in Qatar. Known to some as the "Wholesale Market District", it is a part of Metropolitan Doha.

Ras Abu Fontas District in Ad-Dawhah, Qatar

Ras Abu Fontas is a coastal industrial area in Doha on the boundary with Al Wakrah Municipality in Qatar. The government has designated the district as a free economic zone starting in 2019.

Al Egla is a district with portions in the municipality of Al Daayen and the municipality of Doha in Qatar. It adjoins the area of the planned city of Lusail.

Glusco (gas stations)

Glusco is a subsidiary of the Greenenergo Trading S.A. that operates a national chain of gasoline stations and convenience stores in Ukraine. The Greenenergo Trading S.A. itself is part of the bigger SNEL Energy Limited directed by Dimitrios Anifantakis

References

  1. 1 2 "Woqod raises non-Qatari ownership level to 49 percent". www.thepeninsulaqatar.com. Qatar News Agency. 11 June 2018.
  2. 1 2 "Qatar Fuel (WOQOD) Q.S.C.: Consolidated Financial Statements For The Year Ended December 31, 2008; Together With Independent Auditor's Report" (PDF). Qatar Fuel (WOQOD). 2009. p. 1. Retrieved 27 July 2018.
  3. "Fuel & Retail". Qatar Fuel (WOQOD). Retrieved 27 July 2018.
  4. "Qatar Fuel Company Q.S.C. ("Woqod"): Consolidated Financial Statements; 31 December 2014". Qatar Exchange. Retrieved 27 July 2018.
  5. Daniel Infante Tuaño (24 May 2018). "Qatar's Woqod unveils 63rd petrol station". Petrol Plaza. Retrieved 27 July 2018.
  6. "Company Overview of Qatar Fuel Company Q.P.S.C." Bloomberg. Retrieved 27 July 2018.
  7. 1 2 3 "Qatar Fuel WOQOD: Fuelling the supply lines". IndustryME. 7 November 2014. Retrieved 27 July 2018.
  8. Peter Alagos (11 June 2018). "Woqod eyes 88 petrol stations by year-end". The Peninsula. Retrieved 27 July 2018.
  9. "Woqod buys bitumen tanker for $6m". Arabian Industry. 26 November 2014. Retrieved 27 July 2018.
  10. "Sidra Stores". Qatar Fuel. Retrieved 27 July 2018.
  11. Satyendra Pathak (26 May 2016). "All Sidra stores will turn into supermarkets, says Woqod". Qatar Tribune. Retrieved 27 July 2018.
  12. "Fahes renews car inspection contract with Interior Ministry". Gulf Times. 23 May 2018. Retrieved 27 July 2018.
  13. Joey Aguilar (14 January 2015). "QR18mn car inspection centre opens in Mesaimeer". Gulf Times. Retrieved 27 July 2018.