Qatar’s growing fuel consumption calls for additional storage facilities, investments

Qatar is a promising country and on the path to a prosperous future, as it is pumping into the local market through QP and through Woqod, various fuels to meet the daily local consumption needs of various types of vehicles and diesel engines that serve the industrial sector, homes and commercial businesses.

Our network of refineries enables us to produce refined petroleum products to meet the needs of the market, and in case of any need, an additional volume is imported from the international market.

As a result of the growth in domestic fuel consumption, it is preferable to establish additional storage tanks at Hamad Port for ease of import and emergency distribution (whenever required) to the local market.

Gasoline fuels are available in two types of ‘91 RON’  and ‘95 RON’ to meet the needs of all regular gasoline cars in Qatar, and diesel fuel is also available for trucks, other vehicles, and pumps and factories.

LPG is also available for homes, hotels and industrial sectors and aviation fuel ‘Jet A1′ for aviation.

It is worth noting that all of our gasoline grades brands are unleaded.
As for gasoline ‘98 RON’, it is the best in terms of performance, as its high octane ratio is the elixir of life for engines, as it helps the speed of combustion, in addition to the ability to clean sprinklers and combustion chambers inside the engine because of its high purity.  

But this variant of fuel is intended for high-performance cars, sports cars and other turbo-charged speed cars.

This type of fuel grade is not widespread in Qatar and we hope that it will be available in all petrol stations, due to the consistent growth in the availability of these kind of cars in Qatar.

When reviewing the ‘monthly fuel prices’ in Qatar, we should take into account the correlation with export prices of petroleum products (gasoline and gasoil) and crude, in addition to import price, in order to reduce the consumer’s vulnerability to price fluctuations.

The strategy of competition in this vital sector positively affects the investment climate in the country, enhances its economic competitiveness, strengthens the free market economy policy, and removes restrictions on economic activities in the fuel distribution sector. 

And it will contribute to promoting a sustainable economy based on open market standards, which will increase Qatar’s attractiveness for investments from both the private sector and global energy partners located in Qatar. 

Our country has an advanced economic legislative environment and a developed infrastructure characterised by ease of doing business, free movement of capital, and other competitive advantages that our national economy enjoys.

An issue facing the hydrocarbon sector in Qatar is that the policies and strategies in the energy sector are limited to alternatives and do not establish a market governed by the values of freedom, competitiveness and production. For instance, Woqod has been granted the privilege of exclusive distributorship of all refined petroleum products within the State of Qatar since its establishment in 2002. 

It also has an advantage in the field of producing motor oils and the task of importing and distributing bitumen for the local market.

In addition, Woqod has been given many service activities that were originally done by the private sector.

In order to encourage the private sector and international companies to participate seriously in economic development programmes, it is necessary to study the establishment of a national joint-stock company for the distribution of petroleum, for example, ‘Qatar Distribution’ as this practice is adopted worldwide.

Through this vital project, we aspire to create new jobs and investment opportunities in Qatar, in addition to raising the level of reliability of services provided to customers in line with Qatar Vision 2030.

This project will also help us to extract full value from our hydrocarbon resources and seize investment opportunities in fast growing markets around the world.

This would lead to positive results and open the market to investment in the distribution of fuels, motor oils, oil additives, etc and  lead to raising the efficiency of the sector in Qatar, thereby attracting new investments and listing joint stock companies on the Qatar Stock Exchange.

Source: MENAFN