Italy’s Edison plans to sell off its oil and gas unit

Italian energy company Edison is planning to sell off its oil and gas unit in favor of focusing on its retail business, Reuters reports. Edison’s assets in Egypt — including the Abu Qir concession — are among the “most attractive parts” of the company’s oil and gas portfolio, sources tell the newswire. “The company has been looking to increase the size of its domestic electricity and gas retail business, betting on the market opening up to more competition, with retail energy customers increasingly able to [choose] their supplier.”