MUSCAT: The overall production of refineries and petroleum industries in Oman fell by 0.4 per cent until the end of May 2024 compared to the same period in 2023, while automotive fuel production rose by 1.8 per cent, according to preliminary statistics from the National Centre for Statistics and Information.
Regular automobile fuel (91) production decreased by 5.2 per cent to 6.677 million barrels, with sales of 5.678 million barrels. Conversely, premium automobile fuel (95) production increased by 12 per cent to 5.401 million barrels, with sales of 5.310 million barrels. Diesel production fell by 8.8 per cent to 13.281 million barrels, with sales of 5.683 million barrels.
Aviation fuel production went up by 13.5 per cent to 4.758 million barrels, with sales of 1.667 million barrels. LPG production stood at 3.786 million barrels, with sales reaching 4.258 million barrels.
In petrochemicals, gasoline production increased by 8.7 per cent to 68,500 metric tonnes, while paraxylene production rose by 2.6 per cent to 217,200 metric tonnes. Polypropylene production decreased by 9.7 per cent to 100,500 metric tonnes, although sales surged by 22.6 per cent to 15,000 metric tonnes.
Oman's exports of automotive fuel (91) increased by 8.6 per cent to 1.312 million barrels, and fuel (95) exports soared by 153 per cent to 572,800 barrels by the end of May 2024. Diesel exports reached 7.641 million barrels, aviation fuel exports totalled 2.898 million barrels, and LPG exports amounted to 237,000 barrels. Paraxylene exports reached 219,600 metric tonnes, gasoline exports totalled 68,600 metric tonnes, and polypropylene exports were 76,000 metric tonnes. This growth aligns with the US Federal Reserve's policy, as seen in the rise of weighted average interest rates on repurchase operations to 6.000 per cent from 5.500 per cent last year. — ONA
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