BUSINESS REPORTER
MUSCAT, MAY 7
Output of crude oil and condensate in the Sultanate of Oman increased 8.7 per cent to 93.304 million barrels in the first quarter of this year, up from 85.825 million barrels for the corresponding period of 2021, according to the National Center for Statistics and Information (NCSI).
Crude oil production alone rose 12.2 per cent during this period, while condensate output dipped 2.7 per cent during the comparative period.
The average price of Omani crude rose 59.5 per cent to $79 per barrel during Q1 2022, up from an average of $49.5 per barrel for Q1 2021.
The country’s total crude oil exports increased by 18 per cent in Q1 2022 compared to the corresponding period of 2021. Shipments to South Korea grew by 99.4 per cent to 1.995 million barrels (1.2 million barrels in Q1 2021), while crude oil exports to India climbed 44.4 per cent during this period. (ONA)
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