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Oman’s oil production tops 232mn barrels

The Sultanate's oil production stood at 232,942,500 barrels till the end of August 2021, compared to 233,575,200 barrels till the end of August 2020, comprising a decline of 0.3 per cent, according to the latest data released by the National Centre for Statistics and Information (NCSI).

The data indicated that the average daily production till the end of August 2021 increased by 0.1 per cent to 958,600 barrels, compared to 957,300 barrels in the same period in 2020. The average price per barrel increased by 42.3 per cent, from $47.7 per barrel to $67.9.

This decline in production is attributed to a 5.9 per cent drop in crude oil production, amounting to 179,612,700 barrels by the end of August 2021 compared to 190,911,600 barrels in the same period in 2020.

The oil condensate production stood at around 53,329,800 barrels, comprising a 25 per cent increase till the end of August 2021, compared to 42,663,600 barrels during the same period in 2020.

The data further revealed a decrease in the total oil exports by 2.8 per cent till the end of August 2021 to reach about 188,271,300 barrels, compared to 193,639,500 barrels in the same period last year.

China topped the list as the biggest importer of Omani oil till the end of August 2021, as its total imports stood at 156,449,000 barrels, comprising an 8.5 per cent decline, compared to 171,068,900 barrels during the same period in 2020.

Then, India imported around 19,303,100 barrels of Omani crude, a 189.2 per cent increase, compared to 6,675,600 barrels in the same period in 2020, followed by South Korea, which imported 5,529,000 barrels.

The total Omani oil exports to other countries amounted to about 4,606,400 barrels. Japan imports of Omani oil amounted to around 2,383,800 barrels.

Source Link: timesofoman.com

  • Oman
  • Crude Oil
  • National Centre for Statistics and Information
  • Oil Barrel
  • Dubai Mercantile Exchange
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