Oman’s production of crude oil, condensates rises by 10%

Muscat: The Sultanate of Oman’s production of crude oil and condensates recorded a rise by 10 per cent till the end of November 2022 to stand at 355,473,100 barrels compared to 323,174,600 barrels during the corresponding period in 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

Separately, crude oil production increased by 13.5 per cent to reach 283.534 million barrels, while the production of condensates dropped by 2 per cent till the end of November 2022.

The average price of Oman’s crude oil surged by 52.7 per cent by the end of November 2022 to reach $95.8 per barrel compared to $62.77 per barrel by the end of November 2021.

Oman’s total exports of oil increased by 12.7 per cent by the end of November 2022 to stand at 293,944,600 barrels compared to 260,804,100 barrels during the corresponding period in 2021.

Oman’s oil exports to Japan surged by 215.9 per cent to stand at 10,695,200 barrels by the end of November 2022 compared to 3,385,700 barrels by the end of November 2021. Oil exports to the Republic of Korea also rose by 92.8 per cent to stand at 12,621,100 barrels compared to 6,547,800 barrels by the end of November 2021.

Gas production (including imports) in Oman registered a growth of 2.3 per cent to reach 47,113.1 million cubic metres.

Consumption of natural gas increased by 12.5 per cent in industrial areas and 7.5 per cent in industrial projects. Meanwhile, natural gas consumption declined by 7 per cent in oil fields and 1.8 per cent in electricity power plants.