Planned Repair of Baku Refinery to Be Completed by November 4

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.

The average price of Azeri Light oil, based on CIF contracts (which include shipping and insurance costs for marine delivery), decreased by $0.55 (0.72%) compared to the previous week, reaching $75.58 per barrel. The highest price during this period was $76.42 per barrel, while the lowest was $75 per barrel.