Published: Sep 27, 2014
Source: Muscat Daily


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Sultanates's 7M oil output up 1.1% to 200MN barrels

Oil production in the sultanate grew 1.1 per cent to 200mn barrels in the first seven months of 2014 from 198mn barrels for the corresponding period last year, according to a report released by the National Centre for Statistics and Information (NCSI). 

During the same period, daily average production touched 945,600 barrels per day (bpd), compared with 935,700 bpd in the corresponding period of 2013. However, oil prices registered a decline of 0.3 per cent to US$105.4 per barrel from US$105.7 a year ago.

The NCSI report reveals that crude oil production rose 2.5 per cent in the first seven months of this year to 182.3mn barrels from 177.8mn registered during the same period in 2013. Condensate production however declined 11.8 per cent to 18.1mn barrels from 20.6mn.

Oman’s oil exports to major countries declined by 3.5 per cent to 171.9mn barrels from 178.2mn barrels in the period under review. China topped the list with imports of 117.1mn barrels of Omani crude, representing an increase of 16.9 per cent from 100.1mn barrels imported in the same period of 2013.

Meanwhile, natural gas production declined six per cent to 18.15bn m3 at the end of June 2014 from 19.31bn m3 in 2013. Associated gas production fell marginally by 0.4 per cent to 3.40bn m3 from 3.42bn m3. 

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