COMPANY NEWS: State firms diversifying global portfolios

State-owned oil and gas firms that face deregulation, privatization, and other changes at home continue to diversify their asset portfolios internationally.In the case of Italy's ENI SPA, it is the pressure of a rapidly deregulating energy sector in Europe that spurs such diversification.But other state companies, such as Algeria's Sonatrach, feel a growing pressure to better emulate the financial performance of their publicly traded brethren and thus are encouraged to also emulate the latter's business strategies.ENI looks abroadA gas deregulation decree will require ENI to grant other companies access to its natural gas pipeline network, which accounts for 99% of Italy's...

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