Oman’s oil production reached 145.7 million barrels in the first five months of the current year, according to a recent report in Al-Bayan newspaper. The figure represents a 4.1 percent rise in comparison to the corresponding period of 2000.
For the year 2000, oil production totaled 349.5 million barrels—a 5.8 percent rise in comparison to the 330.2 million figure in 1999. Oman’s total oil exports for the same period rose by 5.9 percent to 326.8 million barrels, with China as Oman’s largest customer receiving 114.7 million barrels. Japan and South Korea imported from Oman 73.1 and 55.9 million barrels of oil in 2000, respectively.
Last year, the average price of Oman’s crude oil stood at $26.71 per barrel, representing an astounding 54 percent rise in comparison to the price in 1999. Oman is not a member of the Organization of the Petroleum Exporting Countries (OPEC), and its daily production stands at approximately 900,000 barrels of oil. — (Mena Report)
© 2001 Mena Report (www.menareport.com )