The Omani government’s total revenues rose 5.2 per cent in the first four months of this year to 1.2 billion rials ($3.1 billion), mainly due to a surge in the Sultanate’s natural gas revenues.
Citing official figures, ONA state news agency reported the rise is attributed to a 37 per cent surge in Oman’s natural gas revenues, which reached 13.7 million rials ($35.6 million) in the first four months of this year, up from 10 million rials ($26 million) in the same period last year.
Liquefied Natural Gas (LNG) revenues totalled 126.2 million rials ($328.6 million) to April 2004 while oil revenues fell 0.7 per cent to 862.7 million rials ($2.2 billion) in the same period.
In the meantime, public expenditures rose 31.2 per cent to 1.04 billion rials ($2.7 billion) in the first four months of 2004.
The state budget saw its surplus fall from 384.7 million rials ($1 billion) in the first four months of last year to 198 million rials ($516 million) at the end of April 2004.
Oman’s crude oil exports dropped 7.6 per cent in the first four months of 2004 while the average price of Omani oil rose eight per cent to $30.78 a barrel compared to a year earlier. (menareport.com)
© 2004 Mena Report (www.menareport.com )