Oman's public revenues increased by 4 percent until the end of the third quarter of 2024 to 9.19 billion riyals, compared to 8.88 billion riyals in the same period of 2023, mainly due to higher net oil revenues.
The financial performance bulletin issued by the Ministry of Finance showed that net oil revenues increased until the end of the third quarter by 12 percent to record RO 5 billion and RO 436 million compared to the collection of RO 4 billion and RO 838 million until the end of the third quarter of 2023. The average realized oil price was about US$83 per barrel, while the average amount of oil production was about 999,000 barrels per day, due to EDO's collection methodology for oil revenues and cash flow management.
The bulletin showed that net gas revenues decreased by 15% at the end of the third quarter to QR1.34 billion compared to RO 1.58 billion in the same period of 2023 as a result of the change in the gas revenue collection methodology.
