China lifts 78% of Omani crude exports in July

The average total production of crude oil and oil condensates in the Sultanate of Oman for the month of July 2022 amounted to about 1.08 million barrels per day (bpd), an increase of 1.4 per cent compared to the previous month, the Ministry of Energy and Minerals announced on Tuesday.

Crude oil production climbed 15.4 per cent in July 2022 compared to the same period last year, it stated.

The average price of Oman crude oil traded during July 2022 (for delivery in September 2022) was $103.21 per barrel. Exports totalled 28.9 million barrels.

Production of crude and oil condensates totalled 33.6 million barrels in July 2022.

Countries importing Omani crude oil for the month of July 2022 were led by the People’s Republic of China with 78 per cent of the total, followed by South Korea with 9 per cent, with the remainder distributed primarily between India, Japan and Thailand.

Natural gas production averaged 148.6 million m3/day in July 2022, a decrease of 1.5 per cent compared to the previous month’s average. The decrease was attributed to maintenance of some sites and the replacement of some gas pipelines.