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FINANCIAL NEWS
Omani oil exports to India dive 88.5% in Jan-Aug
08 Nov 2012
(MENAFN) Oman’s Ministry of National Economy announced that in the January-August period, oil exports to India plunged by around 88.5 percent to 3.168 million barrels from 27.62 million barrels in last year’s same period, reported Emirates 24/7.
However, oil shipments to Singapore soared by around 250 percent to 11.75 million barrels, compared with almost 3.352 million barrels in 2011.
Moreover, oil exports to Taiwan hiked 207 percent to nearly 21.59 million barrels from 7.07 million barrels.
The major importer of Omani oil in the 8-month period was China, which bought 88.97 million barrels, up from 78.68 million barrels in the same period a year earlier, with exports to the Asian country representing almost 40 percent of Oman’s total oil output in the period.
It is worth noting that the Sultanate’s total crude oil production in the January-August period rose by around 3 percent to 908,200 barrels per day (bpd) from 881,900 bpd in 2011’s same period.
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