The monthly bulletin issued by the Ministry of Finance explained Sultanate of Omanthat net revenues Oil It rose by 12 percent by the end of last August, recording about 4 billion and 649 million Omani riyals, compared to 4 billion and 145 million Omani riyals until the end of August 2023.
The bulletin showed that the average achieved oil price reached 83 US dollars per barrel, while the average amount of oil production reached about one million and one thousand barrels per day. The increase in net oil revenues is due to Tanmeyah’s collection methodology Energy Oman For oil revenues and cash flow management.
While net gas revenues decreased by the end of last August by 15 percent, reaching one billion and 213 million Omani riyals, compared to one billion and 434 million Omani riyals in the same period in 2023. This is due to a change in the methodology for collecting gas revenues.
The current revenues collected until the end of last August also decreased by 104 million Omani riyals, reaching about two billion and 230 million Omani riyals, compared to the collection of two billion and 334 million Omani riyals in the same period in 2023.
The bulletin indicated that public spending until the end of August 2024 amounted to 7 billion and 659 million Omani riyals, an increase of 509 million Omani riyals, or 7 percent, compared to actual spending in the same period in 2023, amounting to 7 billion and 150 million Omani riyals.
The most prominent aspect of spending is the current expenses of civil ministries, which amounted to 5 billion and 434 million Omani riyals, a decrease of 30 million Omani riyals, compared to the same period in 2023, amounting to 5 billion and 464 million Omani riyals.
The development expenditures of ministries and civil units amounted to 735 million Omani riyals at the end of last August, with a disbursement rate of 82 percent of the total development liquidity allocated for the year 2024, amounting to 900 million Omani riyals.
