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Oman’s crude oil output rises 10% to 355m barrels

By Pramod Kumar
Oilfield, Construction, Outdoors REUTERS/Angus Mordant
The two countries renewed calls for Iran to engage in negotiations on the demarcation of the eastern border of the divided area

Oman’s crude oil and condensate oil production rose by 10 percent until November 2022 to reach 355.47 million barrels, compared to about 323.17 million barrels over the period the previous year, Oman Daily Observer reported, citing the National Centre for Statistics and Information (NCSI) data.

Crude oil production grew 13.5 percent to 283.53 million barrels, while condensate production fell by two percent through to November 2022 year-on-year.

According to the data, the average price of Omani crude oil jumped by 52.7 percent until November 2022 to reach $95.8 per barrel, compared to $62.77 per barrel until November 2021.

Oman’s total oil exports increased by 12.7 percent year-on-year by November-end to reach 293.94 million barrels, with the total exports amounting to 260.80 million barrels.

Data showed that oil exports to Japan recorded a growth of 215.9 percent, to reach 10.69 million barrels by the end of last November, compared to the same period in 2021, which amounted to 3.38 million barrels. Oil exports to the Republic of Korea increased by 92.8 percent to reach 12.62 million barrels, compared to November 2021, which amounted to 6.54 million barrels.

The country’s natural gas production (including imports) increased by 2.3 percent to reach 47,113,100 cubic metres.

The statistic bureau data showed an increase in natural gas consumption in industrial areas by 12.5 percent and industrial projects by 7.5 percent.

Meanwhile, gas consumption decreased in oil fields by seven percent and power plants by 1.8 percent.

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