45 per cent jump in Oman’s condensate output

BUSINESS REPORTER -

MUSCAT, FEB 7 -

The Sultanate’s oil production, including condensates, stood at 347.94 million barrels until the end of December 2020, compared with 354.39 million barrels a year earlier, according to the National Centre for Statistics & Information (NCSI).

Of the total output, crude oil production was down by 9.1 per cent at 278.84 million barrels, while condensate production rose by 45.2 per cent to touch 69.10 million barrels.

Oman recorded a daily average crude oil production of 950.7 thousand barrels until the end of December 2020, against 970.9 thousand barrels over the same period of 2019, the NCSI report added.

However, the average price of Oman Crude fell by 27.6 per cent to reach $46.0 per barrel until the end of December 2020, from $63.6 per barrel in the same period of 2019.

Oman exported 287.04 million barrels of crude oil until the end of December 2020, against 310.33 million barrels for the same period of 2019, which is fall by 7.5 per cent.

China retained its position as the leading destination for the Sultanate’s crude oil exports at the end of December 2020, with the country importing 248.12 million barrels of crude oil from Oman. This was followed by India (17.80 million barrels), South Korea (4.99 million barrels) and Japan (3.92 million barrels).

Oman’s natural gas production and imports rose 0.4 per cent to 46,396 cubic metres (MNCM) at the end of December 2020, from 46,190 MNCM for the same period of 2019. Of this, non-associated gas and imports rose by 2.6 per cent to 38,870 MNCM and associated gas production fall by 9.4 per cent to 7,527 MNCM, added the NCSI report.

The use of natural gas in industrial projects rose by 0.4 per cent to reach 46,396 MNCM at the end of December 2020, against 46,190 MNCM for the same period of last year.

As much as 27,656 MNCM of natural gas was used in industries projects, against 28,751 MNCM units consumed for the same period of 2019.