TOWARDS GROWTH AND PROSPERITY - WOQOD

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFor The Year Ended December 31, 2007 (Continue)NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFor The Year Ended December 31, 2007 (Continue)16. Sales:Year Ended December 31,2007 2006QR.QR.19. Related Party Transactions:Year Ended December 31,2007 2006QR.QR.Sale of refined products 2,668,558,268 2,001,822,513Sale of jet fuel 1,947,158,485 1,435,310,127Transportation and other revenue 99,829,586 55,342,1794,715,546,339 3,492,474,819Purchase from Qatar Petroleum 3,668,405,479 2,894,659,035Sales to Qatar Petroleum 58,749,314 67,310,436General and administrative expenses 3,534,584 3,246,854(i) Sales transactions to Qatar Petroleum are at arms length.(ii) Purchases for Qatar Petroleum are in accordance to the agreement with Qatar Petroleum.17. General and Administrative Expenses:Year Ended December 31,2007 2006QR.QR.20. Capital Commitments:December 31, December 31,2007 2006QR.QR.Manpower cost 113,026,076 76,037,022Rent 5,118,265 2,372,428Others 64,110,836 43,592,365182,255,177 122,001,81518. Other Income:Year Ended December 31,2007 2006QR.QR.Interest from banks 33,853,633 22,133,514Profit on sale of property, plant and equipment 347,340 27,073Others 21,021,635 6,849,33455,222,608 29,209,921Heavy Fuel Oil Project 325,000,000 325,000,000Liquefied Petroleum Gas Plant Project 150,000,00 150,000,00Construction of Petrol Stations 99,329,247 99,329,247Bitumen Storage Tank 50,000,000 50,000,000Available-for-sale investments -- 28,000,000624,329,247 652,329,247December 31, December 31,2007 2006QR.QR.Contingent Liabilities:Letter of guarantee -- 543,20034