Mubasher: Qatar Fuel (Woqod) on Sunday announced that it has inked a new petroleum sale and purchase agreement with Qatar Petroleum (QP).

The deal has been extended for a further period of five years expiring on 30 September 2023, according to Woqod’s statement to the Qatar Stock Exchange (QSE).

The agreement has been recently executed embodying the terms, conditions, and arrangements reached by the parties in this regard.

“The extension of the agreement has been effected to enable Woqod further carry out the scope of work entrusted to it,” the statement highlighted.

Under the new contract, Woqod is undertaking the sale purchase, marketing, distribution and transportation of petroleum products within the local market.

Moreover, the company will work on improving its services in accordance with the highest specifications and modern techniques, through the establishment of a modern distribution sector comprising stations, distribution, and transport network and integrated infrastructure facilities covering and supplying the increasing sustainable requirement of the state land, air and marine facilities, of petroleum products.

The supply will be conducted in line with the highest security, safety, health, and environment, the statement added.

Both companies will ensure consistent provision of the requirements of the state and the local market of petroleum products and other accompanying services