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Omani oil production rises 3.2% y-o-y

Omani oil production rises 3.2% y-o-y
Photo credit: Arabianeye - Reuters

Mubasher: Omani oil production leapt by 3.2% in 2015 year-on-year, according to statistics announced by the National Center for Statistics and Information (NCSI) on Thursday.

The center said the y-o-y rise is spurred by condensate oil and crude oil which climbed 8.9% and 2.6%, respectively.

Oil production also jumped 0.8% up month-by-month in October 2015, as crude oil production leapt by 3.8% to 27.7 barrels last October, versus 26.6 million barrels in September.

The condensate oil production, however, declined by 25.2% to about 2.3 million barrels in October 2015, compared to three million barrels in the previous month.

Oil exports shrank by 3.3% to 25.4 million barrels in October, against 26.6 million barrels in September.

The production of natural gas also rose by 4.5% by the end of October 2015 compared to the same period last year, and dropped by 8% on a monthly basis.

The report explained that the fall in natural gas in October was driven industrial projects and power which decreased the use of natural gas by 14.9% and 6.9% respectively.

However, the natural gas usage rose in industrial areas by 7.2% and oil fields by 6.4% in the same period.

Refineries and oil industries products in the sultanate rallied 2.6% in the first 10 months of 2015, compared to the same period last year.