London — The Italian oil company Eni will set a goal of reaching net-zero emissions in its European operations by 2050, CEO Claudio Descalzi says. In doing so, Eni will become the fifth oil major to have made similar pledges within the past year (Repsol, BP, Royal Dutch Shell and Total got there first).

The timing is no coincidence. In June 2019, the UK and France passed laws requiring carbon neutrality by 2050, and the EU announced its intention to set a similar goal in December. “This industry responds to policy and economics very fast,” said Bob Dudley, former CEO of BP and chair of the Oil and Gas Climate Initiative...

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