Italy’s Eni expects its oil production to start declining after 2025 under its new long-term strategy to rely on natural gas, renewables, and new technologies to cut net greenhouse gas emissions of its energy products by 80 percent by 2050. In its Long-Term Strategic Plan to 2050 and Action Plan 2020-2023, the Italian oil and gas group set out an ambitious target to obtain by 2050 an 80-percent reduction in net scope 1, 2 and 3 emissions, referring to the entire life cycle of the energy products it sells. Thus, Eni joins other Big Oil firms from Europe who have recently pledged reductions in scope 3 emissions, that is, the carbon footprint of the energy products that companies sell. A week after new CEO Bernard Looney took over from Bob Dudley as BP’s boss, BP unveiled earlier this month a plan to achieve net zero carbon footprint across BP’s […]