MUSCAT: The average price of Oman Crude increased by 27.8 per cent at the end of 2017 to reach to $51.3 per barrel compared with $40.1 a barrel by the end of 2016, according to the monthly statistics released by the National Centre for Statistics and Information (NCSI).
The statistics show that the Sultanate’s total exports of crude oil and condensates was 294.21 million barrels by the end of 2017, showing a decline of 8.6 per cent from the end of 2016 when the total exports stood at 321.94 million barrels. The Sultanate’s production of crude oil and condensate by the end of 2017 was 354.26 million barrels, including 322.66 million barrels of crude oil and 31.60 million barrels of condensates. China was the largest importer of Sultanate’s oil, crude and condensate, with exports of these products to China reached to 204.81 million barrels. This was followed by India with 28.24 million barrels and Taiwan with 21.45 million barrels. The Sultanate’s exports of crude oil and oil condensates to Japan was 10.56 million barrels and to South Korea was 8.79 million barrels, United States 4,731,900 barrels, to Singapore 1,492,000 barrels, to Thailand 806,300 barrels and to other countries it stood at 13,327,800 barrels. On the other hand, total domestic production and imports of natural gas reached 40.908 billion cubic meters by the end of 2017, which is an increase of 0.1 per cent compared with the end of 2016, when it was 40.849 billion cubic meters.
Oman’s budget deficit falls by 1%
Muscat: The Sultanate’s budget deficit fell 1 per cent to OMR1,896.8 million till the end. The budget deficit for the...
