The Sultanate's crude oil production, including condensates, stood at 30 million barrels in January 2019, which is an increase by 0.3% compared to an output of 29.9 million barrels for the corresponding period of 2018, according to the latest data released by the (NCSI).
Of the total production, crude oil production was down by 0.7% at 26.6 million barrels, while condensates production rose by 9.2% to touch 3.45 million barrels. Oman recorded a daily average crude oil production of 970.3 barrels at the end of January 2019, against 967.1 over the same period of 2018, which is a rise of 0.3%, the NCSI report added. The average price of Oman Crude surged by 9% to reach $66.3 per barrel till the end of January 2019, from $60.8 per barrel in the same period of 2018. Oman exported 23.3 million barrels of crude oil in January 2019, against 25 million barrels for the same period of 2018, falling by 7%.
China retained its position as the leading destination for the Sultanate's crude oil exports in January 2019, with the country importing 18.3 million barrels of crude oil from Oman.
This was followed by South Korea (1.9 million barrels) and Japan (1.48 million barrels). Oman produced 357.1 million barrels of oil and exported 289.2 million barrels in 2018. Besides, the country's daily oil production stood at 978,400 million barrels last year.
Natural gas output
Oman's natural gas production and imports fell 3.5% to 3,647 million cubic meters (MNCM) at the end of January 2019, from 3,781 MNCM for the same period of 2018. Of this, non-associated gas and imports declined by 5.2% to 2,955 MNCM and associated gas production rose by 4.2% to 692 MNCM, added the NCSI report. The use of natural gas in industrial projects fell by 1.1% to reach 2,379 MNCM at the end of January 2019, against 2,406 MNCM for the same period of the previous year. As much as 754 MNCM of natural gas was used in oil fields, against 864 MNCM units consumed for the same period of 2018.