Oman’s crude oil production falls 3.4% by end of 2019

Muscat: The Sultanate’s oil production, including condensates, stood at 354.39 million barrels until the end of December 2019, 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 3.4 per cent at 306.8 million barrels, while condensates production rose by 20.1 per cent to touch 47.57 million barrels.
Oman recorded a daily average crude oil production of 970.9 barrels at the end of December 2019, against 978.4 barrels over the same period of 2018, the NCSI report added.
However, the average price of Oman crude fell by 8.7 per cent to reach $63.6 per barrel until the end of December 2019, from $69.7 per barrel in the same period of 2018.
Oman exported 310.3 million barrels of crude oil till the end of December 2019, against 289.2 million barrels for the same period of 2018, rising by 7.3 per cent.
China retained its position as the leading destination for the Sultanate’s crude oil exports until December 2019, with the country importing 243.3 million barrels of crude oil from Oman. This was followed by Japan (23.31 million barrels), India (14.76 million barrels) and South Korea (10.52 million barrels).
Oman produced 357.1 million barrels of oil and exported 289.2 million barrels in 2018. Besides, the country’s daily oil production stood at 978,400 million barrels last year.
Oman’s natural gas production and imports rose 1 per cent to 46,190 million cubic meters (MNCM) at the end of December 2019, from 45,721 MNCM for the same period of 2018.
Of this, non-associated gas and imports rose by 0.5 per cent to 37,886 MNCM and associated gas production rose by 3.3 per cent to 8,304 MNCM, added the NCSI report.
The use of natural gas in industrial projects rose by 3.6 per cent to reach 28,751 MNCM at the end of December 2019, against 27,741 MNCM for the same period of last year. As much as 9,776 MNCM of natural gas was used in oil fields, against 9,511 MNCM units consumed for the same period of 2018.