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FINANCIAL NEWS
Oman’s oil production climbs 6.6% by October-end
16 Dec 2010
(MENAFN) Dr Mohammed bin Hamed Al Rumhy, Oman’s Oil and Gas Minister revealed that the Sultanate’s crude oil production increased to 261.7 million barrels by October-end of the current year, against 245.4 million barrels, year on year, registering a 6.6 percent jump, Khaleej Times reported.
According to Al Rumhy, Oman’s oil production is forecasted to hit 900,000 barrels per day (bpd) by the end of 2011, and hopes to reach one million bpd by 2015.
Official data showed that average daily production was around 860,800 bpd with an average price of around $76.38 per barrel, and total exports increased 10.4 percent to 220.2 million barrels.
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