[Oman-L] Oman's oil exports fall 10.9 per cent in 1st quarter of 2007

[Joachim Duester]

Exports of crude oil during the first three 
months of 2007 totalled 56.847 million barrels, 
as compared to 63.776 million barrels during 
the corresponding period in 2006, constituting 
a fall of 10.9 per cent. According to statistics
issued by the Ministry of National Economy, 
total production of crude oil and condensates 
stood at 64.388 million barrels at the end of 
March 2007, as against 68.669 million barrels 
during the corresponding period in 2006, 
entailing a drop of 6.2 per cent.

Daily production averaged 715,400 barrels during 
the first three months of this year, as against
763,000 barrels during the first quarter of 2006,
representing a fall of 6.2 per cent. The average price
of Omani crude fell by 6.3 per cent to 
$ 54.70 per barrel during the first quarter of 
this year, from $ 58.39 per barrel during the
corresponding period in 2006. China topped the
countries importing Omani oil, lifting 
24.557 million barrels during the first three 
months of this year, against 23.526 million 
barrels during the corresponding period last 
year, constituting a 4.4 per cent increase.

Thailand came second, lifting 9.633 million 
barrels, as against 13.427 million barrels 
during the first quarter of last year, entailing
a drop of 28.3 per cent. Japan came third with imports
of 6.357 million barrels, compared to 
6.204 million barrels during the corresponding 
period in 2006, representing an increase of 
2.5 per cent. 
The Sultanate’s production of natural gas rose 
by 11.2 per cent by March-end 2007 to reach 
267.785 million cubic feet (MCF), against 
240.739 MCF during the corresponding period 
in 2006.

Gas consumption also rose 11.2 per cent during 
this period to reach 267.785 MCF compared to 
240.739 MCF during the corresponding period 
in 2006.

(Oman Daily Observer, 12 May 2007)