Italy’s Oil King Fights to Preserve His Legacy

The head of Italy’s second-largest company is fighting prosecutors’ accusations that he approved bribery payments to Nigerian officials

By some measures, Claudio Descalzi is one of the most influential chief executives to lead Italian oil giant Eni SpA. But after 39 years with the company—the last six as CEO—he is on trial, facing charges that he orchestrated the company’s payment of $1.3 billion for drilling rights in Nigeria with the understanding that most of the money would be paid out in bribes.

As Mr. Descalzi fights the charges in a Milan court, he is vying for a third three-year term as Eni’s CEO. He defends his tenure leading Italy’s second-largest...

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