BP sells its operations in Pakistan

BP PLC’s total asset sales this year rose to almost $22 billion as the company agreed to sell its oil and natural-gas assets in Pakistan to United Energy Group for $775 million in cash.

South Korea, Asia’s fourth-largest crude importer, expects to increase production from oil and gas fields owned by its energy companies by 33 percent next year through the acquisition of overseas assets.

New Zealand stocks fell, with NZ Oil & Gas pacing decliners on the exchange after Pike River Coal had its securities suspended and the stock replaced on the NZX 50 benchmark by Skellerup Holdings.

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