Average price of oil in Oman rises 9%

Muscat: The average price of a barrel of Omani crude oil rose by 9 per cent at the end of January 2019 to US$66.30 per barrel compared to US$60.80 per barrel at the end of January 2018, according to preliminary statistics from the National Centre for Statistics and Information (NCSI).
The statistics showed that the Sultanate's total exports of crude oil and condensates at the end of January 2019 amounted to 23.32 million barrels, a drop by 7 per cent compared to end of January 2018, which amounted to 25.06 million barrels.
The Sultanate's production of crude oil and condensates at the end of last January amounted to 30.06 million barrels, of which 26.63 million barrels of crude oil and 3.45 million of oil condensates. The average daily production of oil amounted to 970,300 barrels, with daily rate of 0.3 per cent.
China accounted for bulk of the Sultanate's exports of crude oil and condensates during January 2019, with exports reaching 18,383,200 barrels, followed by South Korea with 1,995,100 barrels, Japan with 1,481,000 barrels and India with 501,000 barrels. Exports to other countries stood at 960,800 barrels.
On the other hand, the total domestic production and imports of natural gas by the end of January 2019 was 3.647 billion cubic metres, a decline of 3.5 per cent compared to the end of January 2018, with 3.781 billion cubic metres.
According to statistics released by the NCSI, industrial projects accounted for 65.2 per cent of the natural gas use in the Sultanate at the end of January 2019. The industrial projects amounted to 2.379 billion cubic metres.
The total use of industrial zones in the Sultanate, which includes Oman Mining Company and Oman Cement amounted to 14 million cubic metres.
The use of oil fields of natural gas amounted to 754 million cubic metres, a decrease of 12.7 per cent compared to the end of January 2018, which amounted to 864 million cubic metres, including uses of waste, counter and shrinkage factors.
The use of natural gas in power plants amounted to 497 million cubic metres, an increase of 0.3 per cent while the use of the Ministry of Defence, in addition to the consumption of natural gas at Sultan Qaboos University 3 million cubic metres.
Natural gas non-associated production including imports amounted to 2.955 billion cubic metres while the oil associated production was 692 million cubic metres.