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FINANCIAL NEWS
Oman posts 2.3% rise in 2011’s oil output
23 Feb 2012
(MENAFN) Oman’s Oil and Gas Undersecretary, Nasser Bin Khamis Al Jashmi, said that Oman’s average oil output in 2011 rose by 2.3 percent to 884,900 barrels per day (bpd) from 864,600 bpd in 2010, reported Gulf News.
Al Jashmi added that gas production was also up 4.4 percent, reaching 95.1 million cubic meters per day, from 91.1 million cubic meters a year earlier.
On the other hand, he said that Petroleum Development Oman’s (PDO) oil production recorded a marginal drop to 549,280 bpd from 553,000 bpd in 2010.
It is worth noting that the decline in the state-run company’s oil output was attributed to rain and labor unrest, which led to the lost of 410 days’ worth of work in 2011.
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