Crude Output Hikes in Oman

Oman’s production of crude oil and condensates recorded a rise by 10% till the end of November 2022 to stand at 355.473 million barrels compared to 323.174 million barrels during the corresponding period in 2021. Separately, crude oil production increased by 13.5% to reach 283.534 million barrels, while the production of condensates dropped by 2% till the end of November 2022, reported Oman News Agency (ONA), citing data issued by the National Center for Statistics and Information (NCSI). The average price of Oman’s crude oil surged by 52.7% till the end of November 2022 to reach US$95.8 per barrel compared to US$62.77 per barrel by the end of November 2021.

Oman’s total exports of oil increased by 12.7% till the end of November 2022 to stand at 293,944,600 barrels compared to 260,804,100 barrels during the corresponding period in 2021. Oman’s oil exports to Japan surged by 215.9% to stand at 10,695,200 barrels till the end of November 2022 compared to 3,385,700 barrels by the end of November 2021. Oil exports to the Republic of Korea also rose by 92.8% to stand at 12,621,100 barrels compared to 6,547,800 barrels by the end of November 2021. Gas production (including imports) in Oman registered a growth of 2.3% to reach 47,113.1 Mcm. Consumption of natural gas increased by 12.5% in industrial areas and 7.5% in industrial projects. Meanwhile, natural gas consumption declined by 7% in oil fields and 1.8% in electricity power plants.