Woqod records QR852 mn profit in first nine months of 2026

Qatar Fuel Company (Woqod) reported a net profit of QR852 million for the nine months ending September 30, 2026, marking a 13% increase compared to QR752 million in the same period in 2025. The earnings per share rose to QR0.86, up from QR0.76 during the same period last year. This growth was primarily driven by rising inventory prices, particularly in the third quarter of 2026.

However, overall sales volume declined by 14% compared to the same period in 2025 due to geopolitical factors, with aviation fuel being the main contributor. At its Extraordinary General Assembly Meeting on September 17, 2026, Woqod's board approved the Group Capital and Operational Budget for 2027 and amended its Articles of Association to comply with the new Corporate Governance Code issued by the Qatar Financial Markets Authority.

The company opened three new petrol stations during the period and plans to construct four more by year-end. Woqod maintained uninterrupted distribution services across all sectors despite the geopolitical conditions. The company has received the RoSPA Gold Award for Occupational Health and Safety Achievement for three consecutive years and another Gold Award for Fleet Safety and Management Systems for two consecutive years.

Woqod Group reaffirmed its commitment to maximizing shareholder value and returns through strategic initiatives aimed at improving efficiency and operational effectiveness across all business areas, while continuing to advance the petroleum distribution sector and ensure uninterrupted supply of petroleum products and gas in alignment with international Health, Safety, Security, and Environment standards.