Oil prices rose last week

Türkiye has received an exemption from the United States for "Gazprombank" in relation to payments for Russian gas, the NTV channel reported citing a statement by Türkiye's Minister of Energy, Alparslan Bayraktar. It is noted that this issue was previously discussed with U.S. Secretary of State Antony Blinken during his visit to Türkiye.

The Hungarian authorities are in contact with Moscow and Kyiv to maintain the possibility of Russian gas transit through Ukrainian territory after 2024, Hungary’s Prime Minister, Viktor Orbán stated.

Norway's natural gas production in November decreased by 1.4% compared to the same month last year, amounting to 10.8 bcm. According to the Norwegian Offshore Directorate (NOD), production in October was 10.6 bcm. Norway also reduced its oil and condensate production by 3.5% in November, reaching 1.975 million barrels per day (bpd),  a 1.3% decrease compared to October.

BP hopes to secure a more favorable profit-sharing model for its operations at the oil fields of Kirkuk from Baghdad, compared to the terms previously offered to foreign companies in Iraq, Reuters reports.