Oman today_ Oman’s public revenues reached OMR 9.19 billion ($23.9 billion) by the end of the third quarter of 2024, showing a 4% increase compared to OMR 8.88 billion in the same period of 2023. This growth was mainly driven by a 12% rise in net oil revenues to OMR 5.43 billion.
Financial performance details:
Average oil price: Around $83 per barrel.
Average daily oil production: Approximately 999,000 barrels.
Net gas revenue: Decreased by 15% to OMR 1.34 billion.
Expenditures and liabilities:
Public spending: Increased by 8% to OMR 8.72 billion.
Public debt: Decreased to OMR 14.4 billion in Q3 2024, compared to OMR 15.7 billion in 2023.
Oman continues to manage its expenses and financial commitments effectively, allocating OMR 300 million for debt repayment and supporting social programs and electricity projects.