Oman's crude oil and condensate production rises

Muscat: Oman's production of crude oil and condensate oil increased by 10.4 per cent to reach 323.72 million barrels at the end of October 2022 compared to October 2021, which amounted to 293.22 million barrels, according to National Centre for Statistics and Information (NCSI) data.

Crude oil production alone increased by 14.1 per cent, while oil condensate production decreased by 2 per cent at the end of October 2022 compared to the same period in 2021.

The average price of Omani crude oil increased by 56 per cent at the end of October 2022, to reach $96.3 per barrel, compared to $61.7 per barrel at the end of October 2021.

The total oil exports of the Sultanate of Oman increased by 13.4 per cent at the end of October 2022, compared to the same period in 2021. Total exports amounted to 269.39 million barrels at the end of October 2022 compared to 237.49 million barrels at the end of October 2021.

Oil exports to Japan recorded a growth of 201.7 per cent, to reach 10.21 million barrels at the end of October 2022 against 3.38 million barrels at the end of the same period in 2021. Oil exports to South Korea increased by 73.6 per cent during this period, to reach 11.36 million barrels against 6.54 million at the end of October.

Natural gas production rises by 2.5%

The Sultanate of Oman's natural gas production (including import) increased by 2.5 per cent at the end of October 2022, to reach 43.21 billion cubic metres.

The data issued by the National Centre for Statistics and Information indicated an increase in natural gas consumption in the industrial sector by 13.1 per cent and industrial projects by 6.9 per cent. While gas consumption witnessed a decrease in each of the following: oil fields by 4.4 per cent, and power plants by 2.8 per cent.