Towers stand at the under-construction deep oil processing and refining complex at the Naftna Industrija Srbija AD (NIS) oil refinery, operated by OAO Gazprom Neft PJSC, in Pancevo, Serbia. (Photographer: Oliver Bunic/Bloomberg)

Big Oil Faces ‘Monumental’ Costs to Reach Climate Goals, JPMorgan Says

(Bloomberg) -- Europe’s largest oil companies must roughly double the amount of money they’re now dedicating to “new energies” by the end of the decade to meet key climate targets, according to a r...