Oman Daily Oil Output Tops 1 mbpd for 1st Time

Oman Daily Oil Output Tops 1 mbpd for 1st Time

Oman, the biggest oil producer in the Middle East outside OPEC, said its crude and condensate production in July exceeded 1 million barrels a day for the first time.

“In July 2015 the sultanate broke a new record,” the oil and gas ministry said in a monthly report published on its website.

Production rose 0.5% from June because of efficiency achieved through maintenance work. Daily crude output was 894,000 barrels and condensate—a light oil extracted from gas—accounted for 107,000 barrels, Bloomberg reported.

Exports dropped 13% from a month earlier to 797,000 barrels a day as local refiner Orpic increased its intake of crude, according to the report. All shipments were to Asia, with China and Japan keeping first and second place among Oman’s customers, accounting for about 69% and 15% of sales respectively. The rest was sold to Taiwan, Singapore and Thailand.

Oman started reversing an oil output decline in 2008 by making new discoveries and using technology to improve recovery of oil from aging fields, according to the US Energy Information Administration. Production rose from 710,000 barrels a day in 2007 to 960,000 barrels a day in 2014, according to the IEA.


Short URL : http://goo.gl/wQBhRQ

You can also read ...

1 Million Smart Meters for Energy-Intensive Consumers in Iran
One million energy-intensive households and commercial units...
Asia Buyers of Iran Oil Hopeful of US Waivers
Asian buyers of Iranian oil are gaining confidence they will...
Iran: 7 Combined-Cycle Power Plants Ready for Launch in June
Work is in progress to develop new phases in combined-cycle...
Poland Signs 20-Year LNG Deal With US Co.
Poland’s main gas firm PGNiG has signed a 20-year agreement...
Iran Oil Co. Chief Calls for Buying Stake in Foreign Refineries
Talks are underway to buy shares in refineries of other...
Iran's SIPIEM Inviting Foreign SMEs in Energy Sector
The Society of Iranian Petroleum Industry Equipment...