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China tops Oman crude oil import

Source: Khaleej Times 7/9/2005, Location: Middle East

China emerged the main importer of Oman crude during 2004, accounting for 40.3 per cent of export volumes as against a 27.7 per cent share in 2003. Thailand stood second, lifting 16.4 per cent of Omani crude compared to 18.6 per cent in 2003. South Korea was third with a share of 15.9 per cent while Japan was in fourth place with a 15.5 per cent share. Some volumes were also imported by Taiwan, Malaysia, the USA, Singapore, New Zealand and the Philippines, the Central Bank of Oman (CBO) stated in its annual report.

Crude oil exports reached 263.6 million barrels in 2004 compared to 278.5 million barrels in 2003. The share of oil and gas exports also dropped moderately from 92.7 per cent in 2003 to 90.8 per cent in 2004.Oman's proven oil and condensate reserves stood at 4.803 billion barrels in 2004 representing an increase of 8.5 million barrels over 2003. Total production during 2004 reached 285.4 million barrels of oil and condensates compared to 299 million barrels in 2003, registering a decrease of 4.5 per cent, the report said. Out of 124 producing wells, 107 belonged to PDO. Other producers during 2004 were Occidental Oman, Daleel Petroleum, Novus Oman and Petrogas.

Oman's proven natural gas reserves (associated and non-associated) rose by 0.53 trillion cubic feet (TCF) to reach 24.24 TCF in 2004, New wells as well as better exploitation of the existing ones led to the rise in reserves, the CBO report said.During 2004, LNG exports touched 6.9 million tonnes compared to 6.7 million tonnes in 2003. LNG was exported to Korea, the USA, Japan, Spain, France and Belgium. In addition, some 216 metric tonnes of natural gas liquids (NGL), which is a byproduct of the gas liquefaction process, was exported to the United Arab Emirates and India in 2004.

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