Omani LPG exports jump 8-fold in H1 2023

MUSCAT, JULY 19

Exports of liquefied petroleum gas (LPG) increased by 765.4 per cent in the first six months of 2023 in comparison to the corresponding period last year, according to the National Centre for Statistics & Information (NCSI).

Based on the data, Oman exported 318,900 barrels of LPG in the first half of 2023, marking a substantial increase from the 36,900 barrels exported during the same period last year.

The figures coincide with the increased production of LPG this year, which increased by around 37 per cent from 2.98 million barrels in 2022 to 4.09 million barrels in 2023.

Similarly, exports of petrochemicals have also increased significantly in 2023. The figure increased from 136,800 metric tonnes (MT) to 459,400 MT in 2023, indicating a significant 236 per cent increase.

The figure aligns with the increased rate of production of petrochemicals between the two periods, where the amount nearly tripled increasing from just 149,000 MT last year to 465,100 MT this year.

With Paraxylene being the most produced petrochemical (253,400 MT), followed by Polypropylene (133,300 MT) then Benzene (78,400 MT).

Additionally, the overall production of refineries increased in H1 of 2023. The most significant increase in production was seen in aviation fuel with 59.1 per cent reaching 5.49 million barrels. Meanwhile, production of M-91 fuel increased by 29.9 per cent with 8.27 million barrels, and gas oil with 15.6 per cent increase with 17.15 million barrels.

In contrast, the production of M-95 fuel experienced a remarkable decline of approximately 24.5 per cent with 5.96 million barrels compared to 7.90 million barrels during 1H of 2022. This corresponds with an 86 per cent decrease in export sales from 2.74 million barrels in 1H 2022 to just 373,000 barrels in 1H of 2023.