During the Chevron-Texaco merger, Waqar led the Chevron sub-team designing and planning implementation of the newly created CTTV. Subsequently in 2001 he became a member of CTTV's Venture Capital group, starting a new energy technology fund and co-managing it and its associated portfolio companies.

Waqar joined ChevronTexaco in 1989, as a research engineer developing hydrocracking catalysts and processes for Chevron refineries. Subsequently, in 1992 he transferred to the Process Planning Group as a Planning Engineer, assessing refinery capital investments, performing competitive analyses, and supporting refinery planning activities.

In 1996 Waqar moved to Chevron Global Lubricants, where he was a key participant in negotiations to form a Technology Licensing Joint Venture. During this time he also led the financial analysis and facilitated the team developing a bid for the purchase of a lubricant business in South America.

Subsequently, in 1997 Waqar joined Technology Marketing (TEMA) where he was responsible for technical proposals for licensing of lubricant base-oil manufacturing technology in Latin America, Europe, Africa, India, and Australia.

In 1998 Waqar transferred to Chevron's downstream technology company, ERTC, as the Business Planning Manager where he was tasked with developing business and strategic plans encompassing five major technology capability areas and dozens of technology programs. During this time Waqar also demonstrated the value of developing new technology based business opportunities, leading to his appointment in 2000 to the new position of Business Development Manager at ERTC. In this position, he initiated business development activities that eventually led to Chevron's purchase of PG&E Energy Services and formation of Chevron Energy Services (CES).

Waqar earned a Bachelor of Engineering degree from the University of Sydney, Australia and a Doctoral degree in Chemical Engineering from the Massachusetts Institute of Technology.