Oman’s production of oil rises by 9.6% in December 2022

Muscat: The Sultanate of Oman’s production of oil recorded a rise of 9.6 per cent till the end of December 2022 to stand at 388,434,800 barrels, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

Separately, crude oil production increased by 12.8 per cent, while condensates production declined by 1.4 per cent compared to the corresponding period in 2021.

The average price of Oman’s crude oil surged by 48.4 per cent by the end of December 2022 to reach $95.4 per barrel compared to $64.3 per barrel by the corresponding period in 2021. The average daily oil production increased by 9.6 per cent

Oman’s exports of oil to Japan grew by 179.3 per cent by the end of December 2022 to stand at 11,697,100 barrels. Oil exports rose by 92.8 per cent to South Korea, followed by 7.8 per cent to India and 7.6 per cent to China.

Gas production (including imports) in Oman registered a growth of 3.7 per cent till the end of December 2022 to stand at 52,061.9 million cubic metres compared to 50,190.6 million cubic metres during the corresponding period in 2021.

The production of associated gas went up by 9.3 per cent to reach 10,064 million cubic metres. Moreover, the production of non-associated gas and imports recorded a rise of 2.5 per cent to stand at 41,997.9 million cubic metres.

Consumption of natural gas increased by 12.6 per cent in industrial areas and 7.4 per cent in industrial projects. Meanwhile, natural gas consumption declined by 1.6 per cent in oil fields and 1.4 per cent in electricity power plants.