Oman Smashes Records In 2018 With Refining And Gas Push

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 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)

DATA INSIDE THIS ARTICLE

chart 1: Sohar Refinery Startup Sees Oman Key Products Output Soar In 2018 (B/D)
chart 2: Oil Products And LNG At 25% Of Total O&G Export Revenues ($Bn)
chart 3: Increased Gas Output* Sees 18% Jump In Y-O-Y LNG Production (Total Gas Consumption, BCM/Y)