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Omani crude prices jump 40% to $95.30 in August 2022

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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.

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