06/09/2017 06:01 AST

Oman’s total crude oil exports increased to 25.44 million barrels in July 2017, compared to 24.14 million barrels in the previous month. However, total exports for the first seven months of 2017 registered a 9.9 per cent decline to 171.90 million barrels from 190.71 million barrels for the same period of 2016, according to the figures released by the National Centre for Statistics and Information (NCSI).

The Sultanate’s total crude oil and condensates production in July stood at 29.98 million barrels, a daily average of 967,000 barrels. The average price of oil declined by 4.3 per cent in July this year compared to the previous month. There has been a 3.8 per cent decline in oil production until July this year compared to the same period of 2016, the data showed.

The crude oil exported to China showed a 7.5 per cent decline from 143.39 million barrels until the end of July last year to 132.70 million barrels until the end of July this year. Crude exports to Taiwan, meanwhile, showed a 20.3 per cent growth from 11.96 million barrels in 2016 to 14.38 million barrels until end of July this year.

Crude oil exported to the United States of America (USA) declined by 80.9 per cent - from 9.96 million barrels at the end of July last year to 1.90 million barrels at the end of July 2017. The export to India declined by 52.4 per cent to 1.90 million barrels at the end of July this year from 3.99 millin barrels during the same period last year.

Crude export to Japan declined by 23.7 per cent to 5.98 million barrels until July end this year from 7.83 million barrels during the comparable period of 2016.

The total gas output, which includes imports, declined by 0.4 per cent to 23,920 million cubic meters (MNCM) at the end of July this year compared to 24,025 MNCM during the same period last year. However, compared to June this year when it was 3,421MNCM, the output increased to 3,514 MNCM, according to the data.

While 2 per cent or 4,805 MNCM was used for power generation, 13,578 MNCM was used in the industrial areas. The utilisation of gas by oil fields showed a decline of 4.2 per cent to 5,130MNCM compared to 5,357MNCM last year, the data showed.

Times of Oman

Ticker Price Volume
QNBK 123.01 258,855
SABIC 101.19 3,333,163
SALAMA 20.94 1,020,852
BURUJ 34.49 331,149
WALAA 27.07 211,623
TRADEUNION 20.95 811,508
SOLIDARITY 20.14 681,843
(In US Dollar) Change Change(%)
Brent 55.62 0.15 0.27
WTI 49.89 0.00 0.00
OPEC Basket 53.63 0.71 1.34
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