MILAN: Italian energy group Eni is looking to sell assets in Pakistan as part of moves to refocus its oil and gas portfolio following a strategic re-shake this year, sources close to the matter said.
The company is sounding out potential buyers for a series of oil and gas assets in the country and could have a deal in place before the end of the first quarter, one of the sources said.
"It's a small country for Eni in the sense it has little business there and so it makes sense to rethink operations," a second source said.
Eni declined to comment.
The assets Eni plans to sell include its main producing permits at Bhit, Badhra and Kadanwari, in Sindh province, but will probably exclude its solar power business in the area, one of the sources said.
Eni is currently reviewing its exploration and production portfolio and leaving or downsizing operations in countries where it has a small presence with few opportunities to grow or where development is too long and complicated.
It is working to sell assets in Australia where it aims to keep control of its solar business as it looks to meet aggressive renewable energy targets.
Earlier this year Eni unveiled one of the most ambitious cleanup drives in the oil industry when it pledged to slash its greenhouse gas emissions by 80%.
The move by Eni, which supplied 3 million cubic meters of natural gas a day to Pakistan in 2018, underlines the chronic problems facing the country, where a deep energy crisis has hampered economic development for years.
Eni looking to sell assets in Pakistan in portfolio rethink — sources
https://arab.news/jn6m3
Eni looking to sell assets in Pakistan in portfolio rethink — sources
- The Italian energy group is sounding out potential buyers and may have a deal in place before the end of the first quarter
- Eni is currently reviewing its exploration and production portfolio and leaving or downsizing operations in countries where it has a small presence
Pakistan assembly speaker warns opposition against anti-state remarks in parliament
- Ayaz Sadiq says criticism of judiciary and armed forces will not be allowed on assembly floor
- He calls violence during protests unacceptable, vows neutrality as National Assembly speaker
ISLAMABAD: Pakistan’s National Assembly Speaker Sardar Ayaz Sadiq said on Saturday that opposition lawmakers would not be allowed to speak against Pakistan, the judiciary or the armed forces on the floor of parliament, calling such remarks unacceptable.
Speaking to reporters during a visit to the eastern city of Lahore, Sadiq said parliamentary debate must remain within constitutional and legal limits, while reiterating his commitment to act impartially as speaker.
“No one will be allowed to speak against Pakistan, the judiciary or the armed forces on the floor of the National Assembly,” Sadiq said. “Negative or controversial remarks about judges or the armed forces are unacceptable.”
His comments come amid heightened political tensions after opposition groups held protests in the past, criticizing state institutions and targeting government and military properties.
The speaker said peaceful protest was a democratic right but drew a sharp line at violence and vandalism.
“Protest is the right of every citizen in a democratic society, but it must remain peaceful and within the bounds of the constitution and the law,” he continued, adding that arson, damage to property and the use of sticks or weapons in the name of protest were “unacceptable” and posed a threat to the rule of law.
“No opposition lawmaker will be allowed to speak on the National Assembly floor if they speak against Pakistan,” Sadiq said.
The speaker also noted the country’s economic indicators were gradually improving, citing an increase in foreign exchange reserves, and said Pakistan had further strengthened relations with countries including the United States, China, Russia, Türkiye and Saudi Arabia.
