Complex Made Simple

Abu Dhabi crude oil output hits 1 billion barrels in 2014

Approximately 808.1m barrels – 80.6 per cent of total production – were exported

The emirate of Abu Dhabi’s crude oil output rose to 1.002 billion barrels in 2014, up by 5.251 million barrels year-on-year, according to fresh statistics.

Approximately 808.1m barrels, comprising 80.6 per cent of the total production, were exported, the figures released by the Abu Dhabi statistics centre reveal.

In 2014, average prices fell 5.2 per cent to $103.49 a barrel compared with $109.2 in 2013, while average daily output reached 2.76m barrels and exports averaged 2.21m barrels.

Refined oil production in 2014 inched up by roughly 0.7 per cent to 21.657bn metric tonnes, compared with 21.516bn metric tons in 2013, while refined oil products exports accounted for about 40 per cent, while domestic sales accounted for about 49.2 per cent.

Furthermore, natural gas production amounted to 2.799 trillion cubic feet in 2014 against 2.756trn cubic feet in 2013, while daily production increased to 7.669bn cubic feet, compared with 7.551bn cubic feet in 2013.

Liquefied natural gas products’ exports rose to 19.821bn metric tonnes in 2014 compared to 16.818bn metric tonnes in 2013, according to the data published by Al Bayan newspaper.