Oman’s oil income up by 2.1% in Q2 2019, despite overall weaker GDP

Oman’s oil income up by 2.1% in Q2 2019, despite overall weaker GDP
Published: 30 January 2020 - 1:45 p.m.
The value add from Oman’s oil activities reached Omani Riyals (RO) 5.1 bn ($13.3 bn) at the end of the second quarter of 2019, up 2.1 percent compared to RO 5 billion ($13 bn) at the end of the same period last year.

Rising crude prices contributed to the increase in the value add of oil activities, according to data issued by the National Centre for Statistics and Information (NCSI).

Government statistics showed that the value add of natural gas increased by 5.6 percent to reach RO 793.5 mn ($2.06 bn) for the same period, compared to RO 751.6 million ($1.95 bn) at the end of the same quarter of 2018.

Oman’s gross domestic product (GDP) declined by about 1.9 percent at the end of the second quarter of 2019, totalling RO 14 bn ($36.4 bn), compared to RO 14.3 billion ($37 bn) at the end of the same quarter of 2018.

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