The Argentine province of Mendoza joined on Friday other oil producing areas of the country in cancelling concession contracts which has been awarded to the Spanish owned oil corporation Repsol-YPF, with which the government of President Cristina Fernandez is involved in a controversy over long term investment.
Argentina has asked British and US market regulators to probe whether oil companies that are involved in hydrocarbons exploration off the disputed Falklands/Malvinas Islands have told investors about the risks of their illicit drilling, the Argentine Foreign Ministry reported.
Argentina and Repsol-YPF oil corporation again clashed on Wednesday over the future of the Spanish owned company while members of President Cristina Fernandez administration said measures “can not be discarded” thus re-launching fears about further government actions.
Adding fuel to the quarrel between Argentina and Spain for disagreements over Spanish investors administrated YPF, Spanish Industry minister of José Manuel Soria vowed on Tuesday to defend his country’s interests.
The exploration company Falkland Oil and Gas Ltd. (FOGL) has entered a farmout agreement with an unnamed party for its licenses south and east of the Falkland Islands.
UK based oil firm Borders & Southern pushed back the time frame for initial results from an exploration campaign offshore the Falkland Islands after a deep water well experienced technical issues.
A Brazilian court barred 17 executives from Chevron and Transocean from leaving Brazil, pending criminal charges related to a high-profile oil spill last November. A second oil spill detected last week further complicated the situation.
Royal Navy helicopter carrier HMS Illustrious is in the midst of NATO Exercise Cold Response, based in the Arctic. Illustrious is the command ship for Major General Ed Davis, Commandant General Royal Marines, who, with his Commander Amphibious Forces staff, is directing the movements of allied warships.
Foreign ministers from the Union of South American Nations (UNASUR) reaffirmed their support for Argentina over the Malvinas Islands sovereignty dispute at the annual meeting held in Asunción, Paraguay.
Argentine Planning Minister Julio de Vido lashed out at Spanish Industry Minister José Manuel Soria by saying that oil company YPF is an Argentine corporation run by Spanish investors and should not be considered an asset of the European country.