In a significant development, Oman’s refinery and petroleum production saw a 13.5 percent uptick at the end of July 2023, according to a report by the country’s National Centre for Statistics and Information.
The data revealed that the production of standard-grade petrol M-91 escalated by 31.2 percent in comparison to the same period last year, reaching 1.22 million barrels. However, M-95 fuel exports plummeted by 84.9 percent in the same period.
On the other hand, diesel gas oil exports jumped by 26.9 percent year on year in July 2023 to about 11.95 million barrels.
Additionally, aviation fuel exports witnessed a 71.6 percent surge, amounting to 4.42 million barrels, and exports of liquefied petroleum gas reached 369,800 barrels.
Beyond fuel, Oman also reported increases in petrochemical exports during the month with paraxylene exports totaling 311,400 tons, gasoline exports standing at 97,500 tons, and polypropylene exports witnessing a 26.5 percent rise to 147,000 tons.
Domestic production statistics were equally robust in July 2023 as the production of standard-grade petrol swelled by 27.1 percent year on year to reach 9.61 million barrels, while its total sales hit 8.29 million barrels.
Diesel gas oil production soared 9 percent to reach 19.86 million barrels, with sales tallying at 8.11 million barrels.
Additionally, aviation fuel production surged by 64.6 percent to 6.85 million barrels, and LPG production increased by 41.4 percent to 4.91 million barrels in July 2023 compared to the same period last year.
The domestic petrochemical sector also witnessed gains with gasoline production skyrocketing by 260.1 percent to 93,500 tons, paraxylene production was steady at 305,400 tons, and polypropylene production grew by 14.4 percent to 156,700 tons.
Uptick in real estate market
Oman’s real estate market also experienced a significant uptick, with the total value of real estate transactions rising by 16.8 percent to reach 1.626 billion Omani rials ($4.2 billion) at the end of July 2023, compared to 1.392 billion rials recorded in the same period last year.
However, the value of sales contracts dipped by 10 percent, amounting to 619 million rials across 38,440 transactions. This also marked a 4.2 percent reduction in the number of sales contracts.
Source:https://arab.news/pbre9