Oman oil output up in 2014, exports down

Oman’s oil production increased marginally during the January-November 2014 period, according to new official data reported over the weekend. Overall crude and condensates output also grew, contrary to crude exports, which were down 4 percent.

Oman produced 268,188,800 barrels of oil during the first 11 months of 2014, the country’s National Centre for Statistics & Information announced on Sunday. The produced volume of crude translates to an average output of 944,500 barrels of oil per day, a 1.5-percent increase over the same period in 2013. Total crude and condensates production showed 0.3 percent year-on-year growth, totaling 315,474,800 barrels.

Omani crude exports showed a decline of 11,156,100 barrels to 268,160,500 barrels as of November 2014, mostly on account of weak demand from Japan. The Asian country imported 13,794,500 barrels of oil, 48 percent less compared than in 2013. Exports to China and South Korea were up 17.2 percent and 28.9 percent, respectively. With 190,317,300 barrels of oil, China remains the biggest importer of Omani crude.