Muscat: The Ministry of Energy and Minerals affirmed that energy and minerals remain core pillars of Oman’s economic framework, contributing significantly to the state’s general budget and development goals. Through policies grounded in global best practices, technology adoption, and expanded exploration, the Ministry continues to push operational efficiency and competitiveness across sectors.

In the oil and gas domain, Oman maintained stable output levels with an average daily production of crude oil and condensates reaching approximately 992,600 barrels. By the end of 2024, total reserves stood at 4.825 billion barrels of oil and condensates and 23.3 trillion cubic feet of natural gas. A total of 73 exploratory wells were drilled and evaluated—54 for oil and 19 for gas—across 475 producing fields in the Sultanate.

Crude oil and condensate exports amounted to 308.4 million barrels last year, with an average oil price of $80.79 per barrel. Meanwhile, natural gas production averaged 149.2 million cubic meters per day, and liquefied natural gas exports totaled 12 million tons, transported in 181 shipments.

In refining and petrochemicals, Oman exported 122 million barrels of petroleum products including gas oil, jet fuel, and naphtha. Imports of petroleum products remained low at around two million barrels, indicating improved self-sufficiency and local production efficiency.