Oman's Refineries and Petroleum Industries Report 13.5% Increase in Production
- 05-Sep-2023 10:44 AM
- Journalist: Rene Swann
The Sultanate of Oman has reported a substantial 13.5 percent increase in the production of refineries and petroleum industries, as indicated in a recent report.
According to preliminary statistics released by the National Centre for Statistics and Information (NCSI), the production of standard grade petrol (M-91) by Omani refineries at the end of July 2023 witnessed an impressive surge of 31.2 percent, amounting to 1.22 million barrels. This significant increase is compared to the corresponding period in 2022.
While the production of M-95 fuel showed a decline of 84.9 percent in exports, gas oil (diesel) exports saw a substantial rise, reaching about 11.95 million barrels, an impressive 26.9 percent increase. Exports of aviation fuel also registered a remarkable ascent, soaring by 71.6 percent to reach 4.42 million barrels, while exports of liquefied petroleum gas (LPG) amounted to 369,800 barrels. Notably, paraxylene exports reached 311,400 metric tonnes, gasoline 97,500 metric tonnes, and polypropylene exports surged by 26.5 percent, reaching 147,000 metric tonnes.
The statistics provided by NCSI reveal that the production of standard grade petrol rose by 27.1 percent, reaching 9.61 million barrels at the end of July 2023, with total sales amounting to 8.29 million barrels. In comparison, the production of M95 fuel reached an estimated 7.20 million barrels, although its sales decreased slightly to 6.90 million barrels.
Diesel gas oil production also experienced growth, increasing by 9 percent to reach 19.86 million barrels, while sales of diesel gas oil reached 8.11 million barrels. Aviation fuel production witnessed an even more substantial rise of 64.6 percent, reaching 6.85 million barrels, with sales totaling 2.53 million barrels. The production of liquefied petroleum gas (LPG) recorded a noteworthy increase of 41.4 percent, reaching 4.91 million barrels.
In the realm of petrochemicals, gasoline production exhibited remarkable growth, surging by 260.1 percent to 93,500 metric tonnes. Paraxylene production also saw a substantial rise, reaching 305,400 metric tonnes, and polypropylene production increased by 14.4 percent, reaching 156,700 metric tonnes.
These figures signify a significant expansion in Oman's refining and petroleum sectors, reflecting increased production levels and exports across various categories of petroleum products. The report indicates the dynamic nature of the industry, where different products experience diverse trends in production and export volumes.
As Oman continues to make strides in its petroleum and petrochemical sectors, it underscores the nation's commitment to sustainable economic growth and development. The increase in production not only contributes to the country's economic stability but also plays a role in the global energy market.
In conclusion, Oman's significant growth in the production of refineries and petroleum industries, as outlined in the report, is indicative of the nation's proactive approach to bolstering its energy sector. This growth not only strengthens the country's economic standing but also positions it as a key player in the global petroleum market. The diversification of products and the increase in production capacity underscore Oman's dedication to sustainable development and resource utilization in the energy sector.