The Sultanate’s production of crude oil and oil condensates increased by 9.4 per cent until the end of May 2022 to reach 157,462,200 barrels compared to the same period in 2021, according to data issued by the National Center for Statistics and Information (NCSI).

This increase was marked by a 12.9 per cent in crude oil production until the end of May 2022, while oil condensate production decreased by 2.4 per cent compared to the same period in 2021.

The average price of Omani crude oil also recorded a 46 per cent increase in the same period to reach US$80 per barrel compared to US$54.8 per barrel in the previous year.

Oman’s exports of crude oil and oil condensates increased by 16.3 per cent until the end of May 2022, compared to the same period of the previous year.

Meanwhile, the Sultanate’s oil exports to Japan witnessed a growth of 399.9 per cent to reach 5,008,400 barrels by the end of last May, compared to 1,000,900 barrels during the same period in 2021.

Oil exports to India also increased by 65 per cent during the same period.

On the other hand, natural gas production (including imports) to the Sultanate until the end of last May witnessed a slight increase – by 1.5 per cent – to reach 20,401,000 cubic meters, compared to 20,106,000 cubic meters during the same period last year.

The data issued by the NCSI further indicated that the consumption of natural gas increased in each of the industrial areas by 14.6 per cent, industrial projects by 6.3 per cent, and power plants by 0.7 per cent, while gas consumption in oil fields decreased by 9.8 per cent until the end of May 2022 when compared to parameters noted in 2021.