11 February 2008
State-controlled Petroleum Development Oman has lowered its production target this year to no more than 560,000 barrels per day.
PDO, an affiliate of Royal Dutch Shell, aims to produce between 540,000 bpd and 560,000 bpd this year, it said in a statement.
That compares with a target range last year of between 560,000 bpd and 570,000 bpd, and actual production of 561,000 bpd, PDO said.
For a few years after 2008, production will average about 550,000 bpd, the company said.
PDO produces about 90 percent of Oman’s oil. – Reuters
http://www.tradearabia.com/NEWS/newsdetails.asp?Sn=OGN&artid=138531
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