20-02-2018

OMAN DATA: January crude oil exports edge up 2% to 808,535 b/d

Oman’s crude oil exports edged up 1.9% to 808,535 b/d in January, compared to 793,483 b/d in December, the ministry of oil and gas said Sunday.

The exports of Oman crude totaled 25.065 million barrels, the ministry said in a statement, all to only three destinations — China, India and Taiwan.

January crude and condensate production totaled 29,978,550 barrels, or 967,050 b/d, the ministry added. This is up 0.01% from 966,952 b/d in December.

Shipments to China, Oman’s biggest customer, rose by 26.55% compared to December, bringing its share to 76.11% of the total exports. This was a major rebound after Chinese imports fell in December by 34%, bringing down its share to 49% in the month.

India remained the second-largest export destination in January, with its share rising to 15.9%, from 8.13% in December. The South Asian nation has ramped up Oman crude purchases in 2017, having only accounted for 1% of Oman’s total crude exports in 2016. Taiwan was in third place with 7.98% in January, the ministry said.

These were the only three export destinations in January. A month earlier, Oman counted nine countries as customers, including China, India and Taiwan, along with New Zealand (0.77%), Singapore (3.86%), Japan (4.07%), Malaysia (7.91%), South Korea (9.75%) and Myanmar (8.04%).

Source: Platts

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