Page 13 - MEOG Week 18 2022

MEOG NEWS IN BRIEF MEOG

amounted to 89.15 million barrels, compared to 81.6mn barrels as compared with 69.2mn The outbreak of war in Ukraine has sent oil
to 78.51 million barrels in February. barrels recorded in the corresponding period prices up sharply and led to major economies,
The mentioned figures represent the of 2021, the NCSI data showed. such as the US and Canada, sanctioning
quantities of oil that reached Japanese The sultanate’s total oil exports for the Russia by banning imports of oil.
refineries, storage tanks and warehouses. The full year 2021 had inched up 0.7 per cent to MUSCAT OBSERVER
Asian nation uses oil to generate about a third 288.9mn barrels from 287mn barrels in 2020.
of its energy needs. Exports to China, the biggest buyer of
WAM Oman’s crude, accounted for nearly 79 per GAS
cent of the sultanate’s total oil exports during
Oman’s oil exports jump the first quarter of this year. Yemen LNG could take six
Total exports to China grew by 9.4 per cent
18% as Q1 output rises 8.7% at 64.3mn barrels during January - March months to restart after
period of this year compared to 58.8mn
Oman’s daily average production of crude oil barrels recorded in 2021. ceasefire
increased to 1.04mn barrels per day (bpd) On the other hand, exports to India
during the first quarter of 2022, up by 8.7 per jumped by 44.4 per cent to more than 12mn TotalEnergies’ plant in Yemen is “preserved”,
cent in comparison to 953,600 bpd output barrels in the first three months of this year the head of the French oil major said on
recorded in the same period of last year. from 8.3mn barrels in the same period of Thursday, though it could take some six
The sultanate’s total oil production in the 2021. months to restart operations there.
first three months of this year grew by 8.7 per The average price at which Oman sold its “According to our assumptions, it could
cent to 93.3mn barrels compared to 85.8mn crude during the first quarter of 2022 surged take six months to restart the plant,” Chief
barrels in the same period of 2021, according by nearly 60 per cent to US$79 per barrel Executive Patrick Pouyanne said in a call,
to the statistics released by the National against US$49.5 per barrel recorded in the noting that the energy giant was not part of
Centre for Statistics and Information (NCSI). same period of 2021. The average price for political discussions.
Of the total production, crude output March stood at US$83.6 per barrel, the NCSI Yemenis welcomed a nationwide
jumped by 12.2 per cent year-on-year to data showed. U.N.-brokered ceasefire early this month,
73.7mn barrels during the first quarter, while With global oil prices remaining high after seven years of conflict which has
condensates output decreased 2.7 per cent amid Russia - Ukraine conflict, Oman crude forced millions into hunger, poverty and
to 19.6mn barrels during January - March prices recently rose to their highest level in homelessness.
period. more than eight years. Oman crude price on REUTERS
Oman’s total oil exports grew by 18 per Friday stood at US$99.52 per barrel (for June
cent during the first three months of 2022 delivery) at the Dubai Mercantile Exchange.

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