output

JEDDAH: Oman’s refinery output fell 3.7 percent year on year to about 129.1 million barrels through July, with diesel production declining 6.8 percent, according to preliminary data from the National Centre for Statistics and Information. 

The latest figures showed that total motor-fuel production declined 1.4 percent through July, Oman News Agency reported, citing NCSI data. 

Diesel production fell to 43.31 million barrels from 46.48 million barrels a year earlier. Domestic sales declined 8.3 percent to 11.11 million barrels, while exports fell 11.8 percent to 33.33 million barrels. 

The decline in refinery output comes as Oman continues to develop its downstream energy and petrochemical industries as part of its economic diversification strategy. Invest Oman describes the petrochemical sector as a key pillar of Oman Vision 2040, with major projects including the Duqm Refinery and Liwa Plastics supporting the production of higher-value products from the country’s hydrocarbon resources. 

Production of regular gasoline, or 91-octane petrol, fell 4.5 percent to 9.63 million barrels through July, compared with 10.09 million barrels during the same period in 2025. Sales declined 4.6 percent to 10.04 million barrels, while exports rose 9.8 percent to 1.98 million barrels. 

“By contrast, production of premium gasoline, or 95, rose 2.6 percent through the end of July 2026 to 8.32 million barrels, compared with 8.11 million barrels during the same period in 2025,” ONA reported. 

It added that M95 sales, however, fell 10.6 percent to 8.86 million barrels, from 9.90 million barrels, while exports dropped 33.9 percent to 362,900 barrels, compared with 549,100 barrels a year earlier. 

The figures extend a trend seen earlier in the year. Through June, Oman’s total refinery output had fallen 5.1 percent to 108.85 million barrels, with diesel and regular petrol production declining while jet fuel and naphtha output increased. 

Jet fuel, naphtha rise 

Jet fuel production increased 12 percent to 16.79 million barrels through July, from 14.99 million barrels a year earlier. Sales fell 9.2 percent to 2.57 million barrels, while exports rose 27.4 percent to 14.52 million barrels. 

Naphtha production increased 4.5 percent to 22.61 million barrels, while sales rose 3.2 percent to 8.33 million barrels and exports increased 2.6 percent to 14.66 million barrels. 

LPG and other refinery products 

Liquefied petroleum gas production declined 3.3 percent through the end of July to 6.46 million barrels, compared with 6.68 million barrels during the same period in 2025. 

“Its sales also fell 22 percent to 1.76 million barrels, compared with 2.26 million barrels. By contrast, its exports increased 3.9 percent to 2.06 million barrels, compared with 1.98 million barrels,” ONA stated. 

Production of other refinery products fell 15.9 percent to 21.97 million barrels, compared with 26.12 million barrels a year earlier, with sales of those products declining 21.7 percent to 18.32 million barrels and exports falling 3.1 percent to 5.62 million barrels. 

Petrochemical production 

In the petrochemical sector, benzene production increased 7.3 percent to 109,900 tonnes through July, compared with 102,400 tonnes during the same period of 2025, while exports of the aromatic chemical rose 11.3 percent to 108,000 tonnes, according to the statistics. 

Paraxylene production increased 9.6 percent to 370,500 tonnes, compared with 338,000 tonnes a year earlier, with exports rising 1.7 percent to 372,400 tonnes. 

Polypropylene production, meanwhile, fell 25.4 percent to 149,900 tonnes from 200,800 tonnes during the same period last year. 

Despite the decline in output, sales of the key plastic material rose 32.1 percent to 23,500 tonnes, while exports fell 17.9 percent to 122,300 tonnes, compared with 148,900 tonnes. 

Caracas, September 11, 2026 (venezuelanalysis.com) – Venezuela’s oil industry recovery has stagnated in recent months, notwithstanding pro-business reforms and rising global prices.

OPEC’s latest monthly report placed the Caribbean nation’s August production at 1.145 million barrels per day (bpd), up 23,000 bpd from the previous month, according to secondary sources.

Venezuelan state oil company PDVSA reported an August output of 1.201 million bpd, virtually unchanged from July. Direct and secondary measurements have differed over time due to disagreements over the inclusion of condensates and natural gas liquids.

The strong first-trimester recovery that followed Washington’s lifting of its naval blockade petered out by mid-year. Since May, output has grown by only 7 percent despite the acting Delcy Rodríguez government conducting a pro-investor overhaul of hydrocarbon legislation and signing deals with several multinational corporations.

Since the January 3 US military strikes and kidnapping of President Nicolás Maduro, the Trump White House has seized control over Venezuela’s energy sector. Venezuelan crude export revenues are currently deposited in a US Treasury account, an arrangement confirmed by PDVSA President Héctor Obregón, before US officials decide when and how much of the proceeds should be returned to Caracas.

Washington and Caracas recently announced a major oil deal that will further boost US access to Venezuelan hydrocarbons under favorable conditions. The acting Rodríguez government has granted long-term concessions of 17 prime oilfields, holding 65 billion barrels of proven reserves, to US-controlled NABEP, a company led by Venezuelan oil mogul Alejandro Betancourt.

The oilfields transferred to NABEP, several of which were previously run by joint ventures between PDVSA and Chinese partners, are split among extra-heavy-crude projects in the Orinoco Oil Belt and mature light- and medium-crude ones in the Lake Maracaibo basin. Production in the latter can be ramped up faster as Trump seeks to replenish the US strategic reserve.

After initially hailing the deal as “the biggest in history,” US officials have dampened expectations, lowering a US $100 billion investment pledge to “over $10 billion.” Caracas and Washington announced a 1.5 million bpd target, but NABEP disclosed to Bloomberg only a modest projected increase in the near future.

Venezuela’s loss of sovereignty over its flagship industry has prevented the country from reaping the benefits from surging global energy prices, with the Brent benchmark surpassing $100 per barrel for the first time in four months this week. The Trump administration has sought to leverage its long-term access to Venezuelan oil resources to minimize the fallout from the interrupted traffic through the Strait of Hormuz resulting from its war on Iran.

Since January, Trump officials have worked closely with the Rodríguez administration to grant decades-long energy concessions to Western corporate players and most recently local Latin American conglomerates such as Colombia’s Gilinski Group. 

On September 4, Acting President Rodríguez signed a 25-year deal granting a concession of the heavy crude Bare block to GeoPark, a company belonging to Gilinski. Previously operated by PDVSA, Bare was one of the most productive fields in the Orinoco Oil Belt, with output surpassing 100,000 barrels per day (bpd) in 2011.

At a ceremony in Caracas, Colombian banking mogul Jaime Gilinski thanked Rodríguez for the confidence in awarding a major oilfield to his conglomerate. GeoPark set an 85,000 bpd target and vowed to invest more than $300 million.

The Gilinski Group began in manufacturing before expanding into finance, purchasing multiple Colombian banks and later acquiring positions in other Latin American countries, the US, and Italy. Investigations have implicated the Gilinski Group in parallel banking and tax evasion, including being named in the 2021 Pandora Papers leak alongside other leading members of the Colombian elite. The conglomerate has also ventured into other sectors such as food and media, with Jaime Gilinski currently the richest man in Colombia according to Forbes.

Of Lithuanian-Jewish descent, the Gilinski family is additionally known for its close ties to Israel. Jaime Gilinski’s father, Isaac, served as ambassador to Tel Aviv in 2010-2013, and his sister, Tania, was recently appointed to the same post by Colombian President Abelardo de la Espriella. Jaime’s son, Gabriel, traveled to Tel Aviv in 2025, meeting Prime Minister Netanyahu and evaluating business opportunities between Israeli and Colombian firms.

Edited and with additional reporting by Lucas Koerner in Philadelphia, USA.