Oil Industry Cooling to Net-Zero Targets on Regulatory Worries

Oil-industry adoption of so-called net-zero emission targets is slowing in anticipation of tougher regulatory scrutiny, according to Haynes & Boone LLP and EnerCom Inc.

The number of drillers committed to eliminating greenhouse-gas emissions has leveled off at 23%, according to a survey of 30 US onshore oil and natural gas companies conducted by Haynes and industry consultant EnerCom.

Roughly half of the companies that have adopted net-zero goals are only targeting so-called Scope 1 emissions -- those emanating from internal operations and plants, according to the survey released on Thursday. The timelines for achieving targets range as far in the ...