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FINANCIAL NEWS
Oman crude oil output up 8.8% by May-end
20 Jul 2010
(MENAFN) Oman?s Ministry of National Economy said that the Sultanate?s total crude oil production rose 8.8 percent in the first five months of the current year 2010 to touch 129.8 million barrels, compared to 119.3 million barrels for the same period in 2009, Reuters reported.
According to the report, crude oil production rose by 7.9 percent and oil condensates by 15.3 percent, which reached 113.7 million barrels and 16.1 million barrels, respectively.
The average daily production of oil also increased by 8.8 percent to 859,400 barrels per day. The average oil price per barrel increased by 70.2 percent, from $44.84 in 2009 to $76.34 per barrel in 2010.
The Sultanate?s oil exports recorded a remarkable increase during the first five months of 2010 (15.1 percent) to hit 112.6 million barrels compared to 97.8 million barrels during the same period of 2009.
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