Refinery and petrochemical production climbs 3.4% in October

MUSCAT: The National Centre for Statistics and Information (NCSI) has reported a 3.4% increase in total refinery and petrochemical production during October 2023 in comparison with figures for the corresponding period last year.

October 2023 witnessed total refinery and petrochemical production of 49.7 million barrels, up from 48.2 million barrels recorded in October 2022.

This upward trajectory is ascribed to a noteworthy 14.3% surge in gas oil (diesel) production, registering 32.5 million barrels in October 2023, in contrast to 28.1 million barrels in October 2022.

Simultaneously, petrol production experienced a substantial uptick of 20%, culminating in 13.8 million barrels in October 2023, compared to 11.5 million barrels in October 2022.

On the export front, refinery and petrochemical exports witnessed a marginal 1.3% escalation in October 2023, tallying 17.2 million barrels against the 17.0 million barrels of October 2022.

This elevation is chiefly attributed to a remarkable 31.3% surge in gas oil (diesel) exports, with 17.3 million barrels exported in October 2023, contrasting with 13.1 million barrels in October 2022.

Domestic sales of refinery and petrochemical products similarly climbed 2.2% in October 2023, amounting to 32.5 million barrels, relative to 31.7 million barrels in October 2022.

Source: Oman Observer