BUSINESS REPORTER
MUSCAT, APRIL 10
The Sultanate of Oman’s production of crude oil and oil condensates increased by 8.2 per cent at the end of February 2022 to reach 60.929 million barrels, up from 56.300 million barrels a year earlier, according to data issued by the National Centre for Statistics and Information (NCSI).
Crude oil production alone recorded an increase of 11.5 per cent during this period, while oil condensates dipped 2.4 per cent.
The average price of Oman crude oil also increased by 63.5 per cent at the end of February 2022 to reach $76.7 per barrel, compared to $46.9 per barrel at the end of February 2021. Crude exports climbed 18.3 per cent during this period
China’s share of imports of Omani crude jumped 21.2 per cent to reach 46.511 million barrels (38.374 million barrels in 2021), while India saw its share drop by 7.6 per cent during this period.
On the other hand, natural gas production (including imports) in the Sultanate of Oman at the end of last February decreased by 4 per cent to reach 7.505 billion cubic metres, compared to 7.819 billion cubic metres last year. Gas consumption in industrial areas increased by 14 per cent while oil fields consumed 12.6 per cent less oil.
(With inputs from ONA)
Oman Observer is now on the WhatsApp channel. Click here
