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Oman’s oil output declines 7.5 per cent in first 8 months

5 Oct 2020 By ONA

The sultanate’s oil production, including condensates, stood at 233.57mn barrels during the first eight months of 2020, according to the latest data released by the National Centre for Statistics and Information (NCSI).

Of the total production, crude oil production fell by 7.5 per cent at 190.91mn barrels in the January–August period of 2020, while condensates production rose 45.2 per cent to touch 42.66mn barrels.

Oman recorded a daily average crude oil production of 957,300 barrels at the end of August, against 970,500 barrels over the same period of 2019, the NCSI report added.

However, the average price of Oman crude fell 26.3 per cent at US$47.7 per barrel for the first eight months of 2020 against US$64.7 per barrel in the same period of 2019.

In the full year 2019, Oman had produced 354.3mn barrels of oil and exported 310.3mn barrels. Besides, the country’s daily oil production last year stood at 970,900 barrels.

With regard to the gas sector, Oman’s natural gas production and imports fell 1.3 per cent to 30,348mn cubic metres in the first eight months of 2020 from 30,737mn cubic metres for the same period of 2019. Of this, non-associated gas and imports rose by 1.3 per cent to 25,587mn cubic metres and associated gas production fell 13 per cent to 4,760mn cubic metres, added the National Centre for Statistics and Information report.

The use of natural gas in industrial projects fell by 6 per cent to 18,095mn cubic metres at the end of August 2020, against 19,251mn cubic metres for the same period of 2019. As much as 7,158mn cubic metres of natural gas was used in oil fields, against 6,229mn cubic metres units consumed for the same period of 2019.

 

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