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FINWIRES

Eni Enters Uruguay Offshore Sector With OFF-5 Block Agreement

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Eni (E) entered Uruguay's offshore sector through an agreement with MIWEN, a wholly owned subsidiary of YPF, and ANCAP to join the OFF-5 exploration block, following regulatory approval, the company said Saturday.

The company will operate the block with a 50% interest alongside MIWEN, which holds the remaining 50%, with studies underway to assess its hydrocarbon potential.

Separately, Eni recently agreed to acquire a 40% interest in the adjacent OFF-6 block, which is operated by APA (APA), it added.

Eni shares were up 2% in Monday premarket activity.

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Keo Capital Subsidiary Signs Agreements for Venezuela Joint Venture

Keo Capital's (KEOC.ST) US subsidiary Maha Energy Indiana entered into agreements with PDVSA Petróleo for the administration of the PetroUrdaneta joint venture in Venezuela.The agreements comprise an integrated service agreement, a financing agreement and a payment administration agreement, according to an Aug. 29 release. Maha Energy will provide a credit facility of up to $350 million to the joint venture under the financing agreement.Maha Energy holds a 24% stake in the PetroUrdaneta joint venture, with a binding agreement in place to increase the stake to 40%.

$KEOC.ST
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Orlen Board Member Discharged of Liability After Court Rejects Shareholder Challenge

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Naas Petrol Factory's H1 Attributable Profit, Revenue Fall

Naas Petrol Factory (SASE:9609) said Sunday that its attributable profit and revenue for the first half declined year over year.Net profit attributable to shareholders of the issuer for the six months ended June 30 was 1.6 million Saudi riyals, compared with 2.9 million riyals earlier. EPS moved to 0.52 riyal from 0.97 riyal.The Saudi Arabia-listed petroleum derivatives company's revenue was 30.2 million riyals, compared with 38.8 million riyals a year ago.

SASE:9609