Oman’s crude oil output falls 3.3% to 224m barrels

• Average oil production tops 1m barrels a day
• Condensate production up 8.1%
• Oil exports top 230m barrels

Oman’s total crude oil production fell by 3.3 percent to 223.55 million barrels as of September 2023.

However, total condensate production rose 8.1 percent to 63.48 million barrels, the state-run Oman News Agency reported, citing data issued by the National Centre for Statistics and Information (NCSI).

Average oil production hit 1.05 million barrels daily at the end of September 2023.

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Oil exports reached 230.29 million barrels at the end of September 2023, with the average oil price standing at $79.9 per barrel.

China was the largest importer of Oman’s crude oil at 210.17 million barrels, followed by Japan (7.38 million), South Korea (2.85 million) and India (2.7 million). Exports to other countries stood at 7.16 million barrels.

The total local production and imports of natural gas reached 40.58 million cubic metres as of September 30, 2023, constituting a rise of 3.6 percent yearly.

Natural gas usage by industrial projects stood at 23.77 million cubic metres.

Oilfields used 10.08 million cubic meters of natural gas, whereas power generation plants used 6.52 million cubic metres of natural gas.

The production of non-associated natural gas stood at 32.44 million cubic metres, while the output of associated gas stood at 8.14 million cubic meters.

Earlier this month, Oman’s GDP recorded a fall of 9.5 percent in the second quarter of 2023, largely as a result of a slowdown in oil-related activities.

The sultanate’s GDP was OMR10.1 billion ($26.24 billion) in the second quarter, down 9 percent from OMR11.1 billion for the same period last year, according to NCSI data.