THE Oman Thread (merged)

[NTBKtrader]

Oman: Oil output falls 4 pct
The statistical bulletin issued by the Ministry of National Economy showed that the Sultanate's total production of crude oil and condensates stood at 23,663.3 million barrels at the end of January 2005, against 24,647.5 million barrels during the same period in 2004, constituting a drop of 4 per cent. The bulletin stated that the average of daily production in January 2005 was 763.3 million barrels, against 795.1 million barrels in 2004, constituting a 4 per cent drop. ... However, exports rose
The Sultanate's total exports of crude oil reached 23,454.8 million barrels during January this year, compared to 22,763.7 million barrels during the corresponding period in 2004, constituting a rise of 3 per cent.
link

[khebab]

How can we explain the difference between exports and production? stockpiles?

[NTBKtrader]

Possibly, or internal demand fell?

[EnviroEngr]

Are they dumping a bunch of sour on the open market and keeping the sweet for themselves?

[seahorse]

The article says it was a "rise" of 3% when the numbers posted in the article show it was a drop, not a rise. Just an incorrect use of a word, that's all.

[EnviroEngr]

Look again. This year's #s are higher than last per their exports. Whether it's 3% or not, I'm too lazy to punch in the numbers; but, it IS higher.

[seahorse]

I looked again and you're right, my eyes deceived me.

[pup55]

Oman Depletion Curves

Follow this link and click on the 10-year graph if you want to see what a depletion curve looks like.

The IEA thinks that they will decline another 5% this year.

[NTBKtrader]

The Sultanate's total exports of crude oil reached 174.85 million barrels during the first eight months in 2005, compared to 175.44 million barrels during the corresponding period in 2004, constituting a fall of 0.3 per cent.

The statistical bulletin issued by the Ministry of National Economy showed that the Sultanate's total production of crude oil and condensates stood at 188.19 million barrels at the end of August 2005, against 190.92 million barrels during the same period in 2004, constituting a drop of 1.4 per cent.

The bulletin stated that the average of daily production during the first eight months of 2005 was 774,400 barrels, against 782,500 barrels in 2004, constituting a one per cent drop.

http://www.menafn.com/qn_news_story_s.a ... yId=112478

[nero]

The statistical bulletin issued by the Ministry of National Economy showed that the Sultanate's total production of crude oil and condensates stood at 23,663.3 million barrels at the end of January 2005, against 24,647.5 million barrels during the same period in 2004, constituting a drop of 4 per cent. The bulletin stated that the average of daily production in January 2005 was 763.3 million barrels, against 795.1 million barrels in 2004, constituting a 4 per cent drop.

I think all the millions in this paragraph should really be thousands. Oman produces about 750,000 bbl/day not 763,300,000bbl/day.

[0mar]

The statistical bulletin issued by the Ministry of National Economy showed that the Sultanate's total production of crude oil and condensates stood at 23,663.3 million barrels at the end of January 2005, against 24,647.5 million barrels during the same period in 2004, constituting a drop of 4 per cent. The bulletin stated that the average of daily production in January 2005 was 763.3 million barrels, against 795.1 million barrels in 2004, constituting a 4 per cent drop.

I think all the millions in this paragraph should really be thousands. Oman produces about 750,000 bbl/day not 763,300,000bbl/day.

They are talking about exports per month.

[nero]

They are talking about exports per month.

Well there aren't a thousand days in a month so no that doesn't work.

the average of daily production in January 2005 was 763.3 million barrels

is clearly describing a daily production rate that is aproximately 10 times greater than the entire world's production rate.

[NTBKtrader]

Oil production falls 1.5pc- Oman
The Sultanate's total exports of crude oil reached 195.42 million barrels during the first nine months of this year, compared to 197.39 million barrels during the corresponding period in 2004, constituting a fall of one per cent.
The statistical bulletin issued by the Ministry of National Economy showed that the Sultanate's total production of crude oil and condensates stood at 211.2 million barrels at the end of September this year, against 214.33 million barrels during the same period in 2004, constituting a drop of 1.5 per cent.
link

[NTBKtrader]

Oil exports fall 4.6pc; gas output soars by 27.8pc
MUSCAT — The Sultanate’s total exports of crude oil stood at 82.88 million barrels during the first four months of 2006, compared to 86.85 million barrels during the corresponding period in 2005, constituting a fall of 4.6 per cent.
The statistical bulletin issued by the Ministry of National Economy showed that the Sultanate’s total production of crude oil and condensates stood at 90.98 million barrels by the end of April 2006, against 92.71 million barrels during the same period in 2005, constituting a drop of 1.9 per cent.
link

[pup55]

This calls for a graph.

I wonder what the story is behind the 27% increase in natural gas consumption?

Maybe they're using it to pump water.

[SoothSayer]

This calls for a graph.

I wonder what the story is behind the 27% increase in natural gas consumption?

Maybe they're using it to pump water.

I think its for desalination & some electricity generation in Oman and also the UAE.

[TheDarkAges]

An interesting one, weren't the new enhanced recovery methods supposed to lift production? Matt Simmins cites the collapse of Yibal production as an example of what happens when you over produce.
MUSCAT — The Sultanate’s total exports of crude oil stood at 102.22 million barrels during the first five months of 2006, compared to 107.55 million barrels during the corresponding period in 2005, constituting a fall of five per cent.
link

[shakespear1]

You suck down that six-pack quick and you will suddenly know that you ran out of beer. Simple engineering

[Olle]

Oman 1M at $143,76 Why???
Can anybody with more brainpower than myself, i.e. most people, explain why Oman 1M just went up $23,67 to $143,76 ???
Will the other types of crude follow or is there a differnt explanation? link

[whereagles]

it's probably a typo