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Oman registers 3% gain in crude production in 2016
February 22, 2017 | 10:18 PM
by ONA
This was a rise of 3 per cent over the production during 2015, according to the annual report published by the Ministry of Oil and Gas. Photo-ONA
 
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Muscat: Crude oil and condensates production in the Sultanate during 2016 stood at 367,560,108 barrels in 2016.



This was a rise of 3 per cent over the production during 2015, according to the annual report published by the Ministry of Oil and Gas.

The report showed the February 2016 witnessed the highest level of the Sultanate’s production of crude oil and condensates during 2016.

The total quantity of crude exported during 2016 stood at 321,940,661 barrels, a rise by 4.48 per cent over 2015.


The total quantities supplied to the Omani refinery companies and petroleum industries during 2016 stood at 45,615, 522 barrel, comprising a decline by 9 per cent compared to 2015.

The report said that the imported quantities by China stood at 251,120, 659, comprised 78 per cent of the Sultanate’s total exported crude

oil, a rise by 6 per cent compared to 2015.

The trading of Oman Crude Oil Contract at Dubai Mercantile Exchange (DME Oman) declined by $16.31 to stood at $40.14 a barrel, comprising a decline by $28.9 compared to 2015.

The annual average price of North Sea Brent grade reached $43.66 a barrel, constituting a decline by $14.79 per barrel, 25.3 per cent compared to 2015.

The annual average price of the US West Texas at New York Mercantile Exchange stood at $42.56, comprising a decline by $10.59, 20 per cent compared to 2015.

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