Sultanate's oil production rises in June

Source: Times of Oman 7/6/2005, Location: Middle East

Nassir bin Khamis Al Gashmi, Oil and Gas Ministry undersecretary, has said that the Sultanate's total oil production stood at 785,000 barrels per day during June 2005, a rise of more than 21,000 barrels, compared to May 2005. He attributed this increase to a surge in oil condensates production which averaged 68,000 barrels per day during May 2005 and an increase in the production of other companies which operate outside the concession areas of the PDO.

Al Gashmi added that the Omani oil price during June 2005 was the highest since the Sultanate started producing and exporting crude oil. He noted that there is big demand for Omani oil whose price exceeded $54 in some days of June 2005. He said the oil prices have surged despite an announcement by the Opec to increase the daily production by 500,000 barrels to reach 28 million barrels per day starting from July 1, 2005.


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