The Sultanate of Oman’s production of crude oil and condensates recorded an increase of 8.2 per cent by the end of February 2022 to reach 60,929,200 barrels compared to 56,300,900 barrels by the end of February 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

Separately, crude oil production saw a rise of 11.5 per cent while condensates production declined by 2.4 per cent by the end of February 2021.

The total average price for Oman oil recorded a surge of 63.5 per cent by the end of February 2022 to reach US$76.7 per barrel compared to US$46.9 per barrel by the end of February 2021.

The total exports of Oman’s crude oil increased by 18.3 per cent by the end of February 2022 compared to the same period of the previous year, while the average price of oil dropped by 9 per cent in February 2022 compared to the previous month.

Oman’s crude exports to China saw a growth of 21.2 per cent to reach 46,511,400 barrels by the end of February 2022 compared to 38,374,700 barrels by the end of February 2021. Meanwhile, Oman’s exports to India, which is considered the second largest importer of Omani crude oil, recorded a decline of 7.6 per cent.

The Sultanate of Oman’s production of natural gas (including imports) fell by 4 per cent by the end of February 2022 to reach 7.5 million cubic meters compared to 7.8 million cubic meters by the end of February 2021.

The consumption of gas in industrial areas recorded a rise of 14 per cent by the end of February 2022 compared to the same period in 2021, while a decline was recorded in the consumption of gas in oil fields by 12.6 per cent, electricity power plants by 3.5 per cent and industrial projects by 0.9 per cent.