Oman’s hydrocarbons sector bounced back strongly in 2018. And not just due to higher oil prices. Sohar refinery expansion saw key products output rise 24%, whilst the Khazzan ramp-up pushed LNG exports north of 10mn t/y. The sultanate’s economy is still ailing, but dividends from major investments are beginning to be felt.
Oman’s oil sector closed out 2018 in strong form marked by trademark consistency. Oil output averaged 978,000 b/d with 793,000 b/d of that exported – mostly to China (MEES, 18 January). All indications suggest the sultanate is poised to hold steady in the new year. But beneath the headline numbers, Oman took massive strides forward in what looks to be the sector’s best performance in years. (CONTINUED - 790 WORDS)