Muscat, The Sultanate of Oman’s production of crude oil and condensates recorded an increase by 8.2% by the end of February 2022 to reach 60,929,200 barrels compared to 56,300,900 barrels by the end of February 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI).
Separately, Crude oil production saw a rise by 11.5% while condensates production declined by 2.4% by the end of February 2021.
The total average price for Oman oil recorded a surge by 63.5% by the end of February 2022 to reach USD 76.7 per barrel compared to USD 46.9 per barrel by the end of February 2021.
The total exports of Oman’s crude oil increased by 18.3% by the end of February 2022 compared to the same period of the previous year, while the average price of oil dropped by 9% in February 2022 compared to the previous month.
Oman’s crude exports to China saw a growth by 21.2% to reach 46,511,400 barrels by the end of February 2022 compared to 38,374,700 barrels by the end of February 2021. Meanwhile, Oman’s exports to India, which is considered the second largest importer of Omani crude oil, recorded a decline by 7.6%.
The Sultanate of Oman’s production of natural gas (including imports) fell by 4% by the end of February 2022 to reach 7.5 million cubic meters compared to 7.8 million cubic meters by the end of February 2021.
The consumption of gas in industrial areas recorded a rise by 14% by the end of February 2022 compared to the same period in 2021, while a decline was recorded in the consumption of gas in oil fields by 12.6%, electricity power plants by 3.5% and industrial projects by 0.9%.
Source: Oman News Agency
