arabic Economy French Oil and Gas

Oman’s crude oil output touches 265mn barrels for first 9 months of 2018

Oman Oil and gas export

The sultanate’s crude oil production, including condensates, stood at 265.46mn barrels for the first nine months of 2018. This is against an output of 264.61mn barrels for the corresponding period of 2017, 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 2.2 per cent at 236.01mn barrels while condensates production rose 25.8 per cent to touch 29.46mn barrels.

Oman recorded a daily average crude oil production of 972,400 barrels during January-September period of 2018, the NCSI report added.

The average price of Oman crude surged by 32.7 per cent to US$67.2 per barrel in the January-September period, from US$50.6 per barrel in the same period last year, the report said.

In addition, Oman exported 222.57mn barrels of crude oil in the first nine months of 2018, against 219.8mn barrels for the same period of last year, showing a marginal growth of 1.3 per cent.

China retained its position as the leading destination for the sultanate’s crude oil exports during January-September period, with China importing 179.73mn barrels of crude oil from Oman.

This was followed by India (19.75mn barrels) and Japan (13.45mn barrels).

Oman produced 354.26mn barrels of oil and exported 294.21mn barrels in 2017. The sultanate’s daily oil production stood at 970,600 barrels last year.

Oman’s natural gas production and imports rose 11.6 per cent to 34.21bn cubic meters in the first nine months of 2018, from 30.65bn cubic meters for the same period a year ago.

While non-associated gas and imports registered a growth of 10.6 per cent to 28.21bn cubic meters, associated gas production rose by 16.9 per cent to 6bn cubic meters, added the NCSI report.

The sultanate of Oman is expecting to increase its production for the next years especially in terms of gas production after the launching of many major gas projects.

Muscat Daily staff writer- Muscat –

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