Oman’s crude oil output up by 0.2 % in January-June period, says NCSI

September 01, 2019

The sultanate’s crude oil production, including condensates, stood at 175.6mn barrels in the first six months of the current year, an increase of 0.2 per cent compared to the corresponding period of 2018, according to the latest data released by the National Centre for Statistics and Information (NCSI).

During the six months period under consideration, Oman’s crude oil production fell by 0.6 per cent to 154.8mn barrels. However, during the same period, the production of condensates went up by 6.2 per cent to touch 20.8mn barrels.

Oman’s average daily crude production stood at 970.6 thousand barrels per day, at the end of June 2019, a slight increase of 0.2 per cent against the 968.6 thousand barrels per day, Oman produced in the same period of 2018, the NCSI report said.

During the month of June, the average price realised by Oman fell by 0.6 per cent to touch US$64.3 per barrel. Oman’s crude fetched a price of US$63.9 per barrel in the same month of 2018.

Oman exported 145.5mn barrels of crude oil in the January-June period of this year as against 146.2mn barrels a year ago, thus recording a decline of 0.5 per cent in shipments.

China retained its position as the leading importer for Oman’s crude with the Asian giant purchasing 111.5mn barrels of crude oil. Japan comes at distant second with a purchase of 12.2mn barrels while India with shipments of 8.3mn barrels stood at third place.

Oman produced 357.1mn barrels of oil and exported 289.2mn barrels in 2018. Besides, the country’s average daily oil production stood at 978,400 barrels per day. Oman’s natural gas production and imports rose 1.8 per cent to 22,512mn cubic metres in the first six months of 2019 from 22,110mn cubic metres for the same period of 2018.