Muscat: The Ministry of Energy and Minerals has decided to raise oil production rates to their maximum levels in light of the current rise in oil prices.
Dr. Said Bader al Kharusi, Executive Director of the North Oil Directorate at Petroleum Development Oman (which is owned by the majority of the government), said the government aims to benefit from oil and gas prices.”
He said the Sultanate’s production of crude is currently estimated at one million barrels per day, while for PDO it is 680, 000 barrels per day.
“High oil prices globally are an opportunity for us to increase production,” Dr. Aflah Al-Hadrami of Al Shawamikh Oil-filed Services.
The official price of Oman oil on the Dubai Mercantile Exchange for delivery in May 2022 was $110.36), an increase of $3. 71, compared to Friday’s price of $106.65.