Omani state-led upstream firm PDO has raised oil production to take advantage of the record prices Omani crude has fetched this year. The Hormuz crisis pushed the official selling price (OSP) for Oman’s export blend to a record high in May this year, boosting Muscat’s trade revenues (MEES, 28 August).
PDO’s Block 6 output rose to 713,000 b/d in Q2, up 2% from the previous quarter. Including 74,000 b/d of condensate, total liquids production reached 786,000 b/d, the highest level in more than 20 years (see chart). The gains helped lift total Omani liquids output to 1.15mn b/d, the highest in more than a decade. (CONTINUED - 332 WORDS)
