EMEA News
Boosting Bunker Business Part of "Ambitious" Growth Plans for Qatar's WOQOD
Qatar Fuel Company (WOQOD) says boosting its bunker business is part of wider plans to grow its fuel distribution network.
Having established ship-to-ship bunkering in June 2017 following political complications in the region, sales had increased an "equivalent to 10 times of the sales achieved in the year 2016," CEO Saad Rashid Al-Muhannadi said in a speech last week accompanying the firm's AGM.
"The company has an ambitious plan for increasing it's market stake for distribution and transportation of petroleum products, natural gas, bitumen, ship bunker fuel, and other products," Mr. Ahmad Saif Al-Sulaiti said in his accompanying Chairman's message.
Local media report Woqod has earmarked QR634 million ($174 million) for the expansion projects in 2018.
