The Sultanate's crude oil production, including condensates, stood 0.3 percent higher at 265.46 million barrels for the first nine months of 2018. This is against an output of 264.61 million barrels for the corresponding January-September period of 2017, according to the latest data released by the National Centre for Statistics and Information (NCSI).
Of the total production, crude oil production was down 2.2 percent at 236.01 million barrels, while condensates production rose 25.8 percent to touch 29.46 million barrels. Oman recorded a daily average crude oil production of 972,400 barrels during January-September period of 2018, the NCSI report added. The average price of Oman Crude surged ahead by 32.7 percent to $67.2 per barrel in the January-September period, from $50.6 per barrel in the same period last year, shows the NCSI report. In addition, Oman exported 222.57 million barrels of crude oil in the first nine months of 2018, against 219.80 million barrels for the same period of last year, showing a marginal growth of 1.3 percent.
China retained its position as the leading destination for the Sultanate's crude oil exports during January-September period, with the country importing 179.73 million barrels of crude oil from Oman. This was followed by India (19.75 million barrels) and Japan (13.45 million barrels). Of late, Chinese refineries prefer Oman Crude, which they procure mostly from the Dubai Mercantile Exchange — the region's only crude oil trading centre. Oman produced 354.26 million barrels of oil and exported 294.21 million barrels in 2017. Besides, the country's daily oil production stood at 970,600 barrels last year.
Natural gas output. Oman's natural gas production and imports rose 11.6 percent to 34,217 million cubic metres (MNCM) in the first nine months of 2018, from 30,654 MNCM for the same period of last year. Of this, while non-associated gas and imports registered a growth of 10.6 percent to 28,214 MNCM, associated gas production rose by 16.9 percent to 6,003 MNCM, added the NCSI report. A sizable portion of natural gas in Oman is used by various mega industrial projects, which stood at 20,066 MNCM during January-September period of 2018, against 17,138 MNCM for the same period of last year. Natural gas is also used in oil fields, either for producing steam water or for reinjection, with as much as 7,504 MNCM in natural gas being used in oil fields, against 6,588 MNCM units consumed for the same period of last year.