x

Oman's crude oil production falls 7.5% in August

Business Monday 05/October/2020 16:08 PM
By: ONA
Oman's crude oil production falls 7.5% in August

Muscat: The Sultanate’s oil production, including condensates, stood at 233.57 million barrels until the end of August 2020, according to the latest data released by the National Centre for Statistics and Information (NCSI).
Of the total production, crude oil production fell by 7.5 per cent at 190.91 million barrels while condensates production rose by 45.2 per cent to touch 42.66 million barrels.
Oman recorded a daily average crude oil production of 957,300 barrels at the end of August 2020, against 970,500 barrels over the same period of 2019, the NCSI report added.
However, the average price of Oman crude fell by 26.3 per cent to reach $47.7 per barrel till the end of August 2020, from $64.7 per barrel in the same period of 2019.
The Sultanate exported 193.63 million barrels of crude oil till the end of August 2020, against 196.59 million barrels for the same period of 2019, falling by 1.5 per cent.
In terms of exports, China retained its position as the leading destination for Sultanate’s crude oil exports till the end of August 2020, with the country importing 171.06 million barrels of crude oil from Oman.
This was followed by India (6.67 million barrels), South Korea (4.99 million barrels and Japan (1.60 million barrels).
Oman produced 354.3 million barrels of oil and exported 310.3 million barrels in 2019. Besides, the country’s daily oil production stood at 970,900 barrels last year.
Oman’s natural gas production and imports fell 1.3 per cent to 30,348 million cubic metres (MNCM) at the end of August 2020, from 30,737 MNCM for the same period of 2019.
Of this, non-associated gas and imports rose by 1.3 per cent to 25,587 MNCM and associated gas production fell 13 per cent to 4,760 MNCM, added the NCSI report.
The use of natural gas in industrial projects fell by 6 per cent to reach 18,095 MNCM at the end of August 2020, against 19,251 MNCM for the same period of 2019. As much as 7,158 MNCM of natural gas was used in oil fields, against 6,229 MNCM units consumed for the same period of 2019.