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January 29, 2023 · 1 min read

China buys 90% of Oman’s crude oil, which surprised me

Tom KirkmanIndependent Project Manager

Was not aware that China was the primary buyer of Oman crude oil, by a long shot.
90% is impressive.

Random side notes, I’ve been on oil business trips to Oman once (Muscat) and China 5 times (Guangzhou twice, Tianjin, Suzhou, Fuzhou) and a whole bunch of other countries.

Had to have additional pages added to my last passport, ran out of space for immigration chops.

Great people everywhere in the world I’ve travelled.

In my experience, people aren’t the problem, *governments* are the problem.

Travel tip: don’t criticise the King in Thailand, it won’t end well.

======================

“China accounted for 90 per cent of Oman’s total crude exports of 23.4 million barrels in December 2022, the Ministry of Energy and Minerals said in a report.

India was the next leading market with a share of 5 per cent, followed by Japan (4 per cent) and Thailand (1 per cent).

The average total production of crude oil and oil condensates in the Sultanate of Oman for the month of December 2022 amounted to about 1.063 million barrels per day …

The Sultanate of Oman exported 26 million barrels of crude in December 2022. …”

omanobserver.om ↗

FROM THE THREAD

Tom's notes 3

  1. Tom Kirkman

    Genti A. very much plausible.
    The problem is, what would the Oman government do with yuan.

    I have no idea how much trade there is between China and Oman besides oil.

    If Oman buys goods or services from China in amounts of money comparable to what China purchases oil from Oman, then it should be a fairly straightforward trade agreement to use petroyuan.

    But if Oman doesn't buy much in return from China, it would be fairly unworkable and impractical, at least for now.

  2. Tom Kirkman

    So it seems that Oman might become a petri dish for testing out the petroyuan in real life.

  3. Tom Kirkmanreplying to Patrick Murphy

    willing seller, willing buyer.
    Who are outside countries to interfere?

    Outside, uninvolved 3rd countries interfering with the peaceful trade between 2 other countries is becoming an international epidemic of destructive over-reach.

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