Oman Export Revenues Down, Rating Junked

Oman liquids exports dropped in April to the lowest volume in three years, as supplies were diverted to the Sohar refinery. Total exports fell to 758,000 b/d despite Omani liquids production remaining flat at around 970,000 b/d since the Opec production cuts in December.

The $2.1bn Sohar Refinery Improvement Project (SRIP), which commenced in 2014, is slated to increase output capacity for transport fuels by 59% to 197,000 b/d. Construction finished earlier this year and the spike in April refinery output suggests that units temporarily offline for the maintenance are now back online. However, the new units are not yet up and running. (CONTINUED - 542 WORDS)


chart Oman 2016 Oil Export Revenue Falls 25% Year-On-Year ($Bn)