State-run oil firm Petrobras is worried about an upcoming change in Brazil's reference oil price that determines some taxes and royalties drillers pay, as it could weaken the economic viability of projects in offshore post-salt fields and in its onshore business,

The slow, costly energy transition and underinvestment in exploration have led Big Oil and NOCs to refocus on oil and gas, with analysts warning another oil super-cycle may be needed after 2030.

It is lashing out at the world’s leading energy organization for saying oil and gas use could start declining as the world pivots to cleaner alternatives.

Russian crude oil flows to Hungary and Slovakia via the Druzhba pipeline were halted on Monday, officials in Hungary and Slovakia said, with Budapest blaming a Ukrainian attack on a transformer station.

The EIA's recent short-term outlook for oil prices forecast a slide in oil prices potentially leading to lower rig counts and more job losses.

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For decades, the state has raced to end its reliance on fossil fuels and prioritize clean energy. Its relationship with oil companies became particularly contentious in the past two years, as Gov. Gavin Newsom and Democratic legislators held two special sessions to crack down on alleged price gouging at the pump.

The vessel has been grounded near a private dock on Johns Island for years, leaking oil into the marsh and nearby waters.