The production of oil in the Sultanate of Oman recorded a rise by 2.6% till the end of March 2023 to stand at 95,741.7 million barrels compared to 93,304.4 million barrels during the corresponding period in 2022, according to the data issued by the National Centre for Statistics and Information (NCSI).
Crude oil production increased by 2.2% during the same period. The production of condensates also rose by 4.1% till the end of March 2023 compared to the corresponding period in 2022.
Average oil price increased by 3.2% till the end of March 2023 to reach USD 81.5 per barrel compared to USD 79 per barrel at the end of March 2022. Average daily production also rose by 2.6% by the end of March 2023 compared to the corresponding period in 2022.
Oman’s oil exports recorded a decline by 6.8% till the end of March 2023 compared to the corresponding period in 2022.
As far as exports are concerned, Oman’s oil exports to China recorded a rise by 8.6% to reach 69,818.1 million barrels compared to 64,290.2 million barrels till the end of March 2022. During the same period, oil exports to South Korea, India and Japan dropped by 100%, 85.8% and 22.9%, respectively.
Meanwhile, gas production (including imports) in Oman registered a growth of 7.4% to reach 12,924.7 million cubic metres compared to 12,034.4 million cubic metres till the end of March 2022.
Consumption of natural gas at industrial areas went up by 14.2 till the end of March 2023 compared to the corresponding period in 2022. Further, natural gas consumption increased by 9.1% in electricity power plants, 7.5% in industrial projects and 6.2% in oil fields.
Source: Oman News Agency