Qatar: Woqod Outlines Expansion Plans

A pipeline connecting Mesaieed Refinery to its LPG (liquefied petroleum gas) bottling plant would soon be completed and a LPG plant with a total daily capacity of 40,000 cylinders is set for commissioning by May 2010.

Woqod is planning to commission nine petrol stations this year, thus totaling 13 stations wholly owned by it. Moreover, it, along with Ministries of Municipality and Urban Planning, is working closely to allocate 5-6 new sites at the North Road for new petrol stations. These, along with other plans, were highlighted in the board of directors’ report presented yesterday at the annual general assembly, which approved the 100% cash dividend, entailing an outgo of QR300mn.

The meeting was presided over by Woqod chairman and Deputy Premier HE Abdullah bin Hamad al-Attiyah, who said the company’s achievement was “remarkable and exceeded all expectations.”  He said the “unprecedented” growth in profit was “positively” reflected on the earnings-per-share and the liquidity strength of the company.

On heavy fuel oils bunkering facility at Ras Laffan, Woqod said the official commissioning of liquefied natural gas (LNG) berth No 1 was expected during the second quarter of this year.  “Work is progressing for Berths 2 and 3. Woqod and Qatar Petroleum are working jointly for adding three new berths in Stage II and additional three berths (7, 8 and 9) in the next five years,” it said. On its LPG bottling plant, the report said the first stage was almost completed with 97% of the works being done.

“A six-inch pipeline from Mesaieed Refinery to LPG bottling plant will be completed within weeks,” it said, adding the second phase of Doha depot expansion was progressing and the final commission was expected soon.  Work is also progressing on the new multi-product pipeline with the commissioning of the first (18 inch) pipeline from Mesaieed to Doha depot expected during the second quarter of this year.  In 2008, Woqod’s revenue from sale of refined products rose by 54% to QR4.11bn, jet fuel by 67% to QR3.26bn and transportation and other revenue by 39% to QR138.94mn.

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