Oman's crude oil production falls 4.6% in June

Business Saturday 15/August/2020 16:27 PM
By: Times News Service
Oman's crude oil production falls 4.6% in June

Muscat: The Sultanate’s oil production, including condensates, stood at 177.30 million barrels at the end of June 2020, 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 4.6 per cent at 147.76 million barrels while condensates production rose by 41.8 per cent to touch 29.54 million barrels.
Oman recorded a daily average crude oil production of 964,200 barrels at the end of June 2020, against 970,600 barrels over the same period of 2019, the NCSI report added.
However, the average price of Oman Crude fell by 20.6 per cent to reach $51.1 per barrel at the end of June 2020, from $64.3 per barrel in the same period of 2019.
The Sultanate exported 146.4 million barrels of crude oil at the end of June 2020, against 145.5 million barrels for the same period of 2019, rising by 0.6 per cent.
China retained its position as the leading destination for the Sultanate’s crude oil exports at the end of June 2020, with the country importing 129.75 million barrels of crude oil from Oman.
This was followed by South Korea (4.99 million barrels), India (3.43 million barrels) and Japan (608.2 million barrels).
The Sultanate produced 354.3 million barrels of oil and exported 310.3 million barrels in 2019. Besides, the country’s daily oil production stood at 970.9 million barrels last year.
Oman’s natural gas production and imports fell 2.1% to 22,046 million cubic meters (MNCM) at the end of June 2020, from 22,520 MNCM for the same period of 2019.
Of this, non-associated gas and imports rose 0.6 per cent to 18,622 MNCM and associated gas production fell 14.8% to 3,424 MNCM, added the NCSI report.
The use of natural gas in industrial projects fell by 5.2 per cent to reach 13,573 MNCM at the end of June 2020, against 14,312 MNCM for the same period of last year. As much as 5,068 MNCM of natural gas was used in oil fields, against 4,515 MNCM units consumed for the same period of 2019.