Oman’s first quarter oil and gas export revenues fell 9.4% to OR3.37bn ($8.76bn) from OR3.72bn ($9.67bn) for the corresponding period last year, newly-released official trade statistics show. This was due in part to a fall in the average price of Oman crude – as traded on the Dubai Mercantile Exchange – from $108.15/B in 1Q13 to $104.46/B in 1Q14.

Exports of Omani crude oil and condensate (liquids), which account for the bulk of the sultanate’s hydrocarbon export revenues, were up 2% in 1Q14 versus the corresponding quarter in 2013 however at 848,000 b/d, Ministry of Oil and Gas (MOG) data show. (CONTINUED - 336 WORDS)