Oman’s crude oil export jumps 9.7 per cent from January to October this year

While the sultanate’s total oil production increased 2.8 per cent to 286mn barrels in the January to October period this year, compared with 278.3mn barrels in the same period last year, daily average production also rose to 940,800 bpd from 912,500 bpd, an increase of over 28,000 bpd, Muscat Daily reported.

According to the data, China continued to be the top importer of Oman’s crude oil accounting for nearly 58 per cent of total exports.

Oil exports to China jumped by 26.4 per cent to 146.2mn barrels in the ten-month period this year from 115.6mn barrels in the same period of 2012. Japan was the second biggest buyer with total oil imports at 24.7mn barrels from January to October.

Exports to India too tripled to 12.1mn barrels in the first ten months of this year compared with 3.8mn barrels in the same period of 2012.

NCSI noted that Oman’s net oil revenues also increased 2.2 per cent to US$23.17bn in the same period of 2013 from US$22.65bn last year.

However, reports also suggested that the oil exports to other major buyers such as Thailand, Japan, Taiwan, Singapore and South Korea, dropped significantly this year.

Oil exports to Taiwan were at 24.4mn barrels, 11.2 per cent lower from the previous year. Singapore imported 13.4mn barrels, which was a 15.2 per cent drop from 2012, while exports to South Korea dropped 52.6 per cent to 4.7mn barrels from 9.9mn barrels in the same period last year.