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Average price of Oman Crude rises by 28 per cent
January 28, 2018 | 5:46 PM
by ONA
The Sultanate's production of crude oil and condensate by the end of 2017 was 354.26 million barrels, including 322.66 million barrels of crude oil and 31.60 million barrels of condensates. - Times file picture
 
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Muscat: The average price of Oman Crude increased by 27.8 per cent at the end of 2017 to reach to $51.3 per barrel compared with $40.1 a barrel by the end of 2016, according to the monthly statistics released by the National Centre for Statistics and Information (NCSI).

The statistics show that the Sultanate's total exports of crude oil and condensates was 294.21 million barrels by the end of 2017, showing a decline of 8.6 per cent from the end of 2016 when the total exports stood at 321.94 million barrels.

The Sultanate's production of crude oil and condensate by the end of 2017 was 354.26 million barrels, including 322.66 million barrels of crude oil and 31.60 million barrels of condensates.

China was the largest importer of Sultanate's oil, crude and condensate, with exports of these products to China reached to



204.81 million barrels. This was followed by India with 28.24 million barrels and Taiwan with 21.45 million barrels.

The Sultanate's exports of crude oil and oil condensates to Japan was 10.56 million barrels and to South Korea was 8.79 million barrels, United States 4,731,900 barrels, to Singapore 1,492,000 barrels, to Thailand 806,300 barrels and to other countries it stood at 13,327,800 barrels.

On the other hand, total domestic production and imports of natural gas reached 40.908 billion cubic meters by the end of 2017, which is an increase of 0.1 per cent compared with the end of 2016, when it was 40.849 billion cubic meters.

The statistics showed that industrial projects in the Sultanate used 56.7 per cent of the natural gas by the end of 2017, which was to 23.227 billion cubic meters.

The total use of natural gas by Oman's industrial zones, including

Oman Mining Company, Oman Cement and Sultan Qaboos University, increased by 1.3 per cent at the end of 2017 to reach to 659 million cubic meters from 650 million cubic meters by the end of 2016.

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