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Oil production falls as demand drops

7 Jun 2020

Oil production in the sultanate recorded a decrease of 0.5% in April 2020 compared to the previous month. It, however, recorded an increase of 6.6% at the end of April 2020 compared to the same period the previous year. 

The decrease in oil production in April 2020 is attributed to the decrease in the production of crude oil by 2.1% to reach 28.4 million barrels, comparing with 29 million barrels in the previous month. While the production of Condensate increase by (9.7%). 

Oman’s oil production recorded an increase of 6.6% at the end of April 2020 compared to the same period of previous year, as a result of the increase in condensate oil production by 30.3%, and the crude oil production increased by 3.4% compared to the end of April 2019. 

Meanwhile, the production of natural gas (local production + imports) has increased by 4.2% in April 2020 compared to the previous month. Also, it recorded an increase of 1.3% at the end of April 2020 compared to the same period of the previous year. 

The increase in natural gas production in April 2020, compared to the previous month, is attributed to an increase in its usage in power generations by 13.1%, oil fields by 4%, and industrial projects by 2.5%.

On the other hand, it decreased in industrial areas by 23.1% compared to the previous month. 

Refineries production in the sultanate has decreased by 12% in April 2020 compared to the previous month, to reach 5.4 million barrels. This decrease is attributed to the decrease in the production of aviation fuel oil by 43.1%, and LPG by 24.6%, car fuel M95 products by 22.6%, and car fuel M91 by 19.3%. On the other hand, the production of gas oil products increased by 7.1%.  

The sultanate’s petrochemical production, however, increased by 0.6% in April 2020 compared to the previous month. Refineries sales recorded a decrease of 33.7% in April 2020 compared to the previous month, to reach 2.2 million barrels. This decrease is attributed to the decrease in the sales of aviation fuel oil by 93.7%, car fuel M95 by 45%, car fuel M91 by 38.8%, gas oil by 13%, and LPG by 10.7%.

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