Oman’s oil production tops 324 million barrels
The Sultanate’s oil production, including condensates, stood at 324.3 million barrels till the end of November 2019, compared to 326.3 million barrels, according to the latest data released by the National Centre for Statistics and Information (NCSI).
Of the total production, crude oil production was down by 3 per cent at 281.3 million barrels while condensates production rose by 18.7 per cent to touch 42.9 million barrels.
Oman recorded a daily average crude oil production of 971,000 barrels at the end of November 2019, against 977,100 barrels over the same period of 2018, the NCSI report added.
However, the average price of Oman crude fell by 7 per cent to reach $63.9 per barrel till the end of November 2019, from $68.7 per barrel in the same period of 2018.
The Sultanate exported 281.7 million barrels of crude oil till the end of November 2019, against 269.2 million barrels for the same period of 2018, which is an increase by 4.6 per cent.
China retained its position as the leading destination for the Sultanate’s crude oil exports at the end of November 2019, with the country importing 219.7 million barrels of crude oil from the Sultanate.
This was followed by Japan (21.43 million barrels), India (14.77 million barrels) and South Korea (7.48 million barrels).
The Sultanate produced 357.1 million barrels of oil and exported 289.2 million barrels in 2018. Besides, the country’s daily oil production stood at 978,400 barrels last year.
The Sultanate’s natural gas production and imports rose 0.8 per cent to 42.194 billion cubic metres (MNCM) at the end of November 2019, from 41,844 billion MNCM for the same period of 2018.
Of this, non-associated gas and imports rose by 0.1 per cent to 34.550 billion MNCM and associated gas production rose by 4.1 per cent to 7.644 billion MNCM, added the NCSI report.
The use of natural gas in industrial projects rose by 3.8 per cent to reach 26.087 billion MNCM at the end of November 2019, against 25.131 billion MNCM for the same period of last year. As much as 8.886 billion MNCM of natural gas was used in oil fields, against 8.751 billion MNCM units consumed for the same period of 2018.