Oman 's Crude Exports Grow 6.3% in First Half

Oman’s crude oil exports grew by 6.3% to 164.57 million barrels in the first half of 2016, due to an increase in production. 
However, the average price of Oman Crude fell by 40.9% to $35 per barrel in overseas markets during the first half of 2016, from $59.3 per barrel in the same period last year, according to the (Times of Oman). 
The Sultanate’s production of crude oil and condensates grew by 3.6% to 182.05 million barrels in the first half of 2016, from 175.67 million barrels during the same six month period in 2015. This was equivalent to a daily production of 1,000,300 barrels in the first half of 2016. 
As a result of the dip in oil prices, net oil revenues for the first five months of 2016 plunged by 44.7% to OMR1,287.1 million, from OMR2,325.9 million in the same period last year. 
China continued to maintain its lead among top importers of Omani Crude in the first half, with a share of 73.03%, or 120.18 million barrels, according to the latest statistics released by National Centre for Statistics and Information (NCSI). However, imports to China edged down by 1.7% in the first half. China was followed by Taiwan, United States, South Korea and Japan. 
Further, the country’s natural gas production and imports grew by 7.4% to 20,463 million cubic meters (MNCM) in the first half of 2016, from 19,061 MNCM during the same period last year.