Google Play icon

Oman is the largest non-OPEC oil producer in the Middle East

Posted January 22, 2016

Oman is the largest producer of crude oil (including condensate) in the Middle East that is not a member of the Organization of the Petroleum Exporting Countries (OPEC). As a result of both enhanced oil recovery (EOR) techniques and new discoveries, Oman’s oil production has increased each year since 2007 and ranked 7th among Middle East oil producers and 21st in the world, as of 2014 (the most recent full-year data). Production exceeded one million barrels per day in June 2015 for the first time since December 2000.

Image credit: U.S. Energy Information Administration

Image credit: U.S. Energy Information Administration

Continued use of EOR techniques, combined with several recent discoveries, could contribute to future production growth. However, this week Oman became the first major non-OPEC oil producer to state itswillingness to cut oil production by up to 10% in coordination with other countries in an effort to stabilize the oil market.

Image credit: U.S. Energy Information Administration

Image credit: U.S. Energy Information Administration

Oman has two operating refineries with a combined capacity of 222,000 barrels per day (b/d) and plans to expand existing refinery capacity by 81,000 b/d by 2018. By 2019, Oman plans to construct a new refinery with a total capacity of 230,000 b/d near Duqm, a port town on the Arabian Sea. The country also plans to build a 200-million-barrel crude oil storage terminal at Ras Markaz, south of Duqm, which would be one of the world’s largest crude oil storage facilities.

Oman is an important exporter of crude oil, with virtually all of the country’s oil exports destined for countries in Asia. In 2014, Oman exported an estimated 800,000 b/d, or 80%, of its crude oil and condensate production, of which 72% went to China. Oman’s hydrocarbon sector, which includes crude oil, natural gas, and other liquid fuels, accounted for 84% of government revenue and 47% of the country’s gross domestic product in 2014.

More information about Oman’s energy sector is available in EIA’s Oman Country Analysis Brief.

Source: EIA

Featured news from related categories:

Technology Org App
Google Play icon
86,965 science & technology articles

Most Popular Articles

  1. You Might Not Need a Hybrid Car If This Invention Works (January 11, 2020)
  2. Toyota Raize a new cool compact SUV that we will not see in this part of the world (November 24, 2019)
  3. An 18 carat gold nugget made of plastic (January 13, 2020)
  4. Human body temperature has decreased in United States, study finds (January 10, 2020)
  5. Donkeys actually prefer living in hot climate zones (January 6, 2020)

Follow us

Facebook   Twitter   Pinterest   Tumblr   RSS   Newsletter via Email