Energy Development Oman revenue falls on lower oil prices

Revenue at state-owned Energy Development Oman (EDO) in 2025 fell 8 percent compared with the year before to $14.8 billion as a result of lower oil prices, the latest company report said.

Oman sold its crude oil at an average price of $71 per barrel between January and December last year, down from $81 in 2024, according to the National Center for Statistical Information (NCSI).

Oman’s average daily oil production in 2025 marginally increased by 1 percent year on year to a million barrels, NCSI figures showed. 

EDO owns 60 percent of crude oil production and 100 percent of gas extraction in block 6 operated by state-run Petroleum Development Oman. 

Shell holds about 34 percent in the block, while TotalEnergies has the rest. 

The 130 sq km block 6, located in the Ghaba basin at Fahud, produces 650,000 barrels per day of oil and condensate. It has estimated reserves of more than 1 billion barrels of crude.

Oil prices extended gains earlier in the week, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the US-Israeli war with Iran. 

However, Brent contract prices for June were down around 3 percent on Wednesday to $100.64 per barrel at 0641 GMT. US West Texas Intermediate (WTI) crude futures for May CLc1 slipped 3.3 percent, to $98.04 per barrel.

• Oil supply shock likely to weaken dollar dominance
• The Hormuz shipping crisis in numbers
• UAE raises fuel prices more than 30% due to Iran war