BP (BP.L) and Eni (ENI.MI) are in talks over the future of their oil and gas assets in Algeria as the two groups increase efforts to refocus their businesses to tackle falling margins, rising debt and climate pressures, three sources said. Europe’s top energy companies are cutting back their oil and gas portfolios to keep only the assets most likely to be profitable and redeploy capital for a transition to clean energy as uncertainty mounts over future demand for fossil fuel. Earlier this month, they announced they were in talks to forge a joint venture to run their combined operations in Angola. read more The sources, asking not to be named, said BP and Eni are in early-stage talks for the Italian group to take over BP’s assets in Algeria. The sides are exploring an outright sale as well as an option for BP to receive stakes in Eni […]