Freshly released official stats show Oman generated record export revenues from its downstream operations for 2024 including a record $7.12bn for refined oil products, double 2023’s $3.51bn (see chart). This was driven by the first full-year operations of the 255,000 b/d Duqm refinery which exports all of its output (MEES, 14 February).
LNG exports raised a strong $6.57bn, down from $7.70bn in 2022, but still high on the back of record exports (MEES, 24 January). Together these accounted for an all-time high 35% of oil and gas export revenue. But crude and condensate exports continue to dominate trade revenues at $25.7bn for 2024. (CONTINUED - 113 WORDS)
