Oman: Oil Revenues Rebound Despite Slide In Exports

*Latest official data from Oman’s Ministry of Oil and Gas show that the sultanate produced 992,000 b/d of crude and condensate in December. This pegs average 2018 output at 978,000 b/d, up a fraction on 2017 but almost 3% down on 2016’s record 1.004mn b/d – the only time Oman’s output has ever topped 1mn b/d.

*Exports of crude and condensate fell by 10% to average 793,000 b/d for 2018, a seven-year low, as the country has ramped up its refining throughputs. The ‘Sohar Refinery Improvements Project’ added 81,000 b/d to the capacity of Oman’s largest refinery whilst boosting the sultanate’s overall capacity to 303,000 b/d – 197,000 b/d at Sohar, and 106,000 b/d at Mina al Fahal (see map, MEES, 18 January and MEES, 23 February 2018 ). (CONTINUED - 332 WORDS)

DATA INSIDE THIS ARTICLE

chart Oman’s 2018 Oil* Output Was 3% Down On 2016’s Record; A Ramp Up In Refining Means Exports Were Down By A More Substantial 10% (‘000 B/D)...
chart ...But With Oil^ Prices Up 36%, Export Revenues Jumped By $5bn To A 4-Year High Of $20.1bn