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Oman’s production of oil, condensates edges up

The National Centre for Statistics and Information reveals the Sultanate's output of crude oil increased by 1.5 on a year-on-year basis

Oman’s crude oil and condensates output delivered a total annual growth of 0.3 per cent reaching 315,474,800 barrels in 2014, according to a new report.

Oman’s natural gas production and imports (combined) edged down by 3.6 per cent in the same year, Times of Oman reports.

The figures by the National Centre for Statistics and Information reveal the Sultanate’s output of crude oil increased by 1.5 on a year-on-year basis to stand at 286,188,800 barrels.

The Sultanate’s production of condensates suffered a major slump of 10.1 per cent bringing the total annual production to 29,286,000 barrels from 32,593,200 barrels recorded in 2013.

However, the country’s oil exports dropped by four per cent despite the slight rise in production with the total volume of exports reaching 268,160,500 barrels as of November, against 279,316,600 barrels in 2013.

The bulk of Oman’s crude exports went to Asian buyers, with China – which imported 190,317,300 barrels compared with 162,426,900 barrels for the previous year, at the forefront – followed by Thailand, Japan and South Korea as top importers of Oman’s crude.

With regards to natural gas, combined local production and imports shrunk by 3.6 per cent to 34,535 million cubic metres, from 35,840m cubic metres in 2013.