File picture of a Woqod petrol station. (pic: Salim Matramkot / The Peninsula)
Qatar Fuel Company (Woqod), the leading fuel distribution and marketing services company in Qatar, is aiming to increase its market share in the country to 90 percent by increasing the number of petrol stations. The share of the company in the petroleum retail market reached 85 percent at the end of last year.
“Due to the expansion of petrol stations, the share of Woqod in the retail market of petroleum products has increased to about 85 percent by the end of 2020, and we are currently working to raise this percentage to 90 percent by the end of this year,” said Saad Rashid Al Muhannadi, CEO and Managing Director, Woqod, in the latest Annual Report of the company. “As for the technical inspection centers, we have opened and operated one more center, and therefore the number of active centers has reached 12 centers. Also, we have opened 20 new Sidra Shops for consumer products, including three shops designated in metro stations,” he said.
Woqod’s share in the petroleum retail market was 82 percent in 2019 as it had total 96 petrol stations at the end of the year.
The company, which is the largest fuel retailer in Qatar, currently has 109 petrol stations in the country. At the end of the 2020, the total count of the petrol stations was 108. The company opened Al Mearad -3 petrol station in February that raised its network of petrol stations to 109.
According to the latest Annual report, the company plans to open eight new petrol stations during the current year, which would increase the total number of stations in the country to 116.
“The first quarter of 2021 will witness the completion of the construction and commissioning of three new stations, in addition to five more stations expected to be completed in 2021,” said Saad Rashid Al Muhannadi in the annual report.
