Energy Omani crude prices jump 40% to $95.30 in August 2022 By Pramod Kumar September 29, 2022, 4:52 AM Unsplash.com The joint bid placed by NewMed, BP and Socar was for blocks in proximity to the Leviathan and Tamar fields Oman’s production of crude oil and condensates rose 10.3 percent to 257.34 million barrels by the end of August 2022, the Times of Oman reported, citing the National Centre for Statistics and Information (NCSI) data. Annual crude output grew 13.9 percent, while condensate production declined by 1.7 percent in August 2022 . The average price of Omani crude oil jumped 40.4 percent last month to $95.30 per barrel, compared to $67.9 per barrel in August 2021. In addition, the monthly average oil price rose by 5.3 percent in August 2022 year-on-year. Meanwhile, natural gas production, including imports, until the end of August edged up 4.8 percent to 35.26 billion cubic metres. The newspaper said that natural gas consumption in industrial areas rose by 13.3 percent, industrial projects (8.1 percent), and oil fields (1.6 percent), but fell in power plants by 1.8 percent. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
