Complex Made Simple

Oman oil condensates output soars to 995,700 bpd in November

Sultanate’s production of crude oil alone stood 24.6m barrels in November

Oman’s production of crude oil and condensates picked up by three per cent in November to reach a daily output of 955,708 barrels per day or 29.8 million barrels in the month, according to official statistics.

The sultanate’s production of crude oil alone stood 24.6m barrels in November, signalling a daily output of 820,206 barrels, according to the figures published by the ministry of oil and gas.

China remained the largest importer of Oman crude oil as shipments to the Far Eastern Asian nation rose slightly by 0.7 per cent, accounting for 68.8 per cent of Oman’s crude oil exports.

Taiwan and South Korea bought 15.2 per cent and 8.1 per cent of Oman’s crude oil exports in November, the figures reveal. It’s noteworthy that neither Taiwan nor South Korea imported any crude oil from Oman in October.

The report indicates that the Omani oil price rate for January 2016 delivery amounted to $42.28, a decline of $3.75, compared with the delivery price of December 2015.

($1 = AED3.67, at the time of publishing)