The Sultanate’s crude oil production, including condensates, stood 0.8% higher at 326.3 million barrels till November 2018. This is against an output of 323.7 million barrels for the corresponding period of 2017, according to the latest data released by the (NCSI).

Of the total production, crude oil production was down 1.7% at 290.2 million barrels, while condensates production rose 26.4% to touch 36.14 million barrels. Oman recorded a daily average crude oil production of 977.1 barrels during January-November period of 2018, the NCSI report added. The average price of Oman Crude surged by 35% to $68.7 per barrel during the January-November period, from $50.9 per barrel in the same period last year, shows the NCSI report.

Oman exported 269.2 million barrels of crude oil in the first 11 months of 2018, against 269.6 million barrels for the same period of last year, falling by 0.1 per cent%. China retained its position as the leading destination for the Sultanate’s crude oil exports during the 11-month period, with the country importing 222.9 million barrels of crude oil from Oman. This was followed by India (20.35 million barrels) and Japan (15.91 million barrels).

Oman produced 354.26 million barrels of oil and exported 294.21 million barrels in 2017. Besides, the country’s daily oil production stood at 970,600 barrels last year.

Natural gas output

Oman’s natural gas production and imports rose 11.9 per cent to 41,844 million cubic meters (MNCM) in the first 11 months of 2018, from 37,399 MNCM for the same period of last year.

Of this, non-associated gas and imports registered a growth of 10.9 per cent to 34,504 MNCM and associated gas production rose by 16.6 per cent to 7,340 MNCM, added the NCSI report. A sizable portion of natural gas in Oman is used by various mega industrial projects, which stood at 25,131 MNCM during the 11-month period of 2018, against 20,976 MNCM for the same period of last year. Natural gas is also used in oil fields, either for producing steam water or for reinjection, with as much as 8,751 MNCM in natural gas being used in oil fields, against 8,073 MNCM units consumed for the same period of last year.