Oman’s oil output up 1.1 percent in Jan-July

28 Sep 2014

(MENAFN) Oman’s oil production increased by 1.1 percent, reaching 200 million barrels for the January-July period of this year, compared to 198 million barrels produced during the same period in 2013, Times of Oman reported.

During the cited period, daily average crude oil production reached 945.600 barrels per day, which is an increase compared with 935.700 barrels per day in the same period last year.

However, a decrease was registered in oil prices per barrel declined by 0.3 percent during the period reaching USD105.4 a barrel in the first seven months of this year compared with USD105.7 per barrel by the end of July 2013.

The increase in oil production is mainly attributed to an increase in crude oil production, which grew by 2.5 percent in 2014, with 182.3 million barrels compared to 177.8 million barrels registered for the same period in 2013.

Meanwhile, the total oil exports to major countries dropped by 3.5 percent by the end of July 2014, registering 171.9 million barrels when compared to 178.2 million barrels exported during the same period in 2013, with China topping the list of the countries importing crude oil from Oman with 117.1 million barrels, increasing by 16.9 percent from 100.1 million barrels imported during the same period in 2013.

Taiwan came in second 20 million barrels being imported, declining by 6.2 percent compared to 21.4 million barrels imported during the same period in 2013. Japan came in third place, importing 11.6 million barrels compared to 16.5 million barrels imported during the same period in 2013 and declining by 29.5 percent.