Omani crude exports to China have grown over the past few years, accounting for nearly 60% of the Sultanates crude exports. Oman exported a total of 304.2 million barrels of crude oil last year with about 180.8 million barrels going to China.
The Asian giant has been a significant Omani trade partner with bilateral trade reaching a record $23 billion in value last year. It has been a major importer of Omani crude for the more than ten consecutive years.
Japan follows in second place, lifting 29.3 million barrels of Omani crude last year, while Taiwan Thailand and Singapore follow with 27.4 million barrels, 17.1 million barrels and 13.5 million barrels respectively.
“Supported by a relatively higher level of oil prices, crude oil exports increased by 4.6 per cent to RO 12,337.5 million in 2013, while LNG exports increased by 3.4 per cent to RO 1,670.3 million during the same year,” said the Central Bank of Oman.
“Exports of crude oil, refined oil and liquefied natural gas (LNG), taken together, fetched an export income of RO 14,348.7 million for the year. As a percentage of total exports, hydrocarbon exports accounted for 66.1 per cent of total exports during 2013, marginally lower than 69.7 per cent in 2012.”
The increase in the value of crude oil exports in 2013 was as a result of real growth of 8.7% in the total number of barrels exported during the year.
