Omani crude and condensate exports are set to rise in October as the Sultanate’s 106,000 b/d Mina al-Fahal refinery undergoes maintenance. Exports have been cut this year in line with Oman’s pledged contribution to Opec-led output cuts, and September’s 757,000 b/d was the lowest monthly figure since April 2014. Absent further production cuts, Mina al-Fahal’s closure could propel exports back towards 850,000 b/d this month for the first time since January.
Unlike other participants to the output cuts, Oman has been diligent in ensuring that the axe also falls on exports (MEES, 6 October). Production of crude and condensate has averaged 969,000 b/d in the first nine months of 2017, down 3.4%, and bang in line with Oman’s obligations. Exports meanwhile have averaged 805,000 b/d, down a hefty 8.1% year-on-year. (CONTINUED - 914 WORDS)
