Tribune News Network
Doha
Qatar Fuel Company (Woqod) reported a net profit of QR230 million for Q1 2025, down 5 per cent from QR243 million during the same period last year.
Earnings per share also saw a marginal decline to QR0.23, compared to QR0.24 in Q1 2024. The company attributed the dip in profits to a 3 per cent drop in sales volumes, influenced by supply and demand dynamics.
The Q1 financial report was approved during the company’s second Board of Directors meeting for the year, held on Tuesday under the chairmanship of Ahmed Saif Al Sulaiti.
Saad Rashid Al Muhannadi, Managing Director and CEO, highlighted progress in the Group’s infrastructure expansion. He confirmed that the Al-Nigyan-2 petrol station has been completed and is slated to open in the second quarter of 2025.
Woqod also plans to commence construction of four new petrol stations and one technical inspection center within the year.
Al Muhannadi reaffirmed the company’s commitment to service quality, operational efficiency, and alignment with Qatar’s broader infrastructure modernization goals.
He emphasised that Woqod continues to revise its development plans based on market demand and is dedicated to maintaining the highest QHSSE standards while delivering value to shareholders.
Woqod operates through its subsidiaries QJET, Fahes, and Woqod Marine and is listed on the Qatar Stock Exchange under the ticker “QFLS.”
Woqod is the sole entity responsible for the distribution, sale, transport, and marketing of refined petroleum products and gas across Qatar.
