MUSCAT - Oman's Ministry of Finance announced on Sunday that the Sultanate recorded public revenues of OMR 12.122 billion (USD 31.5 billion) in the fiscal year ending 2025, while total expenditures reached OMR 12.583 billion (USD 32.7 billion), resulting in a budget deficit of OMR 461 million (around USD 1.2 billion).

In its final accounts report on the actual performance of the 2025 state budget, the ministry said the deficit was 26 percent lower than the budgeted deficit of OMR 620 million (USD 1.61 billion), attributing the improvement primarily to higher oil and gas revenues.

The report showed that total oil and gas revenues amounted to OMR 8.481 billion (approximately USD 22 billion), including net oil revenues of OMR 6.640 billion (USD 17.26 billion).
It added that the average realized oil price stood at USD 72 per barrel, compared with the budget assumption of USD 60 per barrel.

The ministry noted that average oil and condensate production reached 999,000 barrels per day, slightly below the budgeted level of 1.001 million barrels per day, reflecting Oman's commitment to the voluntary production cuts agreed under the OPEC+ framework.

Net gas revenues totaled OMR 1.841 billion (USD 4.78 billion), supported by an increase in the average liquefied natural gas (LNG) selling price from the estimated USD 5.41 to USD 7.49 per unit.

Non-oil revenues reached OMR 3.641 billion (USD 9.46 billion) by the end of 2025, according to the report.
The ministry also said total public debt stood at OMR 14.6 billion (USD 36.41 billion) at the end of 2025, down by OMR 15 million (USD 39 million) from 2024, while all financing requirements were met and liability management operations were carried out without increasing the overall debt level.

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