MercoPress. South Atlantic News Agency
Falklands to cash 146m dollars from tax on farm-out deal in oil industry
An agreement has been reached between the Falkland Islands government and Rockhopper Exploration regarding tax arising from the Sea Lion farm-out to Premier Oil, an operation involving a billion US dollars, and which according to the settlement generated a credit of 146m dollars for the Islands Treasury. Read full article
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Disclaimer & comment rulesNice........
Dec 18th, 2013 - 05:10 pm - Link - Report abuse 0Brilliant.
Dec 18th, 2013 - 05:43 pm - Link - Report abuse 0Argentina wallows in debt, whilst the Falkland Islands go from strength to strength with a massive surplus.
Serves Buenos Aires right. They had the opportunity to cooperate with the Falkland Islanders and respect their rights to self-determination, but instead they acted like a spoilt child throwing a tantrum and now they will miss out on the revenues from the oil exploration.
Nice one Falkland Islands.
Best news all day.
To put this in perspective for our colonial Argie friends;
Dec 18th, 2013 - 06:06 pm - Link - Report abuse 0$146m shared between 3,ooo people is;
Approximately $460,000 per person, this wealth fund alone would put the islands at the top of the worlds GDP per capita tables alone.
Huzzah!
Argentines.... please note the constant reference to the Falkland Islands Government in this article. It is the Falkland Islands that is developing an oil industry around the Falklands, and not Britain.
Dec 18th, 2013 - 06:10 pm - Link - Report abuse 0mmmmm
Dec 18th, 2013 - 06:47 pm - Link - Report abuse 0oil industry happy,
Falkland's happy,
CFK very pissxd off lol.
I've no doubt El Malvinese will stick this on their website somewhere, declare that silly law BsAs recently 'enacted' and claim that revenue to be paid back (with kickbacks) when the islands are 'liberated'.
Dec 18th, 2013 - 06:56 pm - Link - Report abuse 0Well done Falklanders, that's a nice chunk of investment money to use for the future.
Is there any future projects on the island that this could be used for?
Conor J........errrr? Calculate again $46,000. But still about 5x an Argie salary. And, no work involved!
Dec 18th, 2013 - 07:01 pm - Link - Report abuse 0“the Falklands, and not Britain”.
Dec 18th, 2013 - 07:04 pm - Link - Report abuse 0Same thing.
Im sure Britain will balance the gain with lost exports/contracts to Argentina and mercosur countries.
That may last a few decades.
Short term gain, focused on 3000 part time residents making use of the rest of Britain. while giving nothing back.
@3/7
Dec 18th, 2013 - 07:11 pm - Link - Report abuse 0Whoops, I meant to write that but I must have calculated it then left the computer for a while lol.
Either way this is still just the beginning of what is about to come
Hardly call two centuries part time.
Dec 18th, 2013 - 07:13 pm - Link - Report abuse 0That mean you are a nation of part timers too?
That why so many of you on here are ex pats?
You dont know my nationality.
Dec 18th, 2013 - 07:18 pm - Link - Report abuse 0Quite right.
Dec 18th, 2013 - 07:30 pm - Link - Report abuse 0Bet my pension you are not an islander though?
@8
Dec 18th, 2013 - 07:38 pm - Link - Report abuse 0Getting nothing back? Where do you think the oil is going to be going einstein?
Vest itch... Martian? Ameoba? Definately something that slithers...Argie perhaps?
Dec 18th, 2013 - 07:43 pm - Link - Report abuse 0@8 You seem to have a problem with “differentiation” and “comprehension”. Here's an example. Differentiate between Britain and Briton. As required, the British government (Britain) works for what it believes to be for the benefit of Britain. On the other hand, real, honest, sane, intelligent Britons wouldn't sell argies the diarrhoea dripping from their arses unless it could be rammed down argie throats with a bayonet. In 1806, Napoleon introduced the Continental System in an attempt to cow Britain. In 1915, Kaiser Wilhelm of Germany attempted the same with unrestricted submarine warfare. From 1939, Hitler tried the same. Argieland tries the same.
Dec 18th, 2013 - 07:49 pm - Link - Report abuse 0You see Britons believe in honour, integrity, honesty, truth, justice, responsibility and conviction. Principles of which argies know nothing. But might, with profit, learn about. However, they first need to evolve to being human.
@11 I didn't know bacteria had “nationality”!
14 - ok captainslither.
Dec 18th, 2013 - 09:13 pm - Link - Report abuse 0Vestige My guess is your a lezza JAJAJA
Dec 18th, 2013 - 10:15 pm - Link - Report abuse 0“”“Hardly call two centuries part time. ”“”
Dec 18th, 2013 - 10:33 pm - Link - Report abuse 0LOLOL
Vestige totally pwned.
Conqueror - take your xenophobic BS elsewhere please: you do more to further the Argentine cause than anybody else on this website - you just dont have the sense to realise it.
You mean you didnt know that many of them live there only seasonally ??
Dec 19th, 2013 - 04:15 am - Link - Report abuse 0lolol
surely you at least know the majority of 'islanders' were born in England....right ??
:)
Never mind the demographics of 2013. What were they in 1982, the majority of islanders were not born in Britian....right ??
Dec 19th, 2013 - 06:07 am - Link - Report abuse 0:)
If there are now British people moving to live on the islands, I think we can put our hands together and have a nice big round of applause for the people well and truly responsible for it....... The Argentines.
I fank yew!!!
Agreed, - A big round of applause for argentina, - With out argentina's childish belligerence, especially their failed attempt at colonisation in 1982- The islands would not be what they have become.
Dec 19th, 2013 - 07:25 am - Link - Report abuse 0Go Falklands!!!
@19
Dec 19th, 2013 - 08:32 am - Link - Report abuse 0Another Argentine myth.
The vast majority of Islanders were born in the Islands.
They are Falkland Islanders first and British by choice.
The Falkland Islands belong to them.
Argentina keeps telling lies that the Islanders were 'transplanted' from Britain, but this is simply not true.
The Falkland Islanders have been more diligent than most regions in keeping track of the origins of their citizens. The data is there for all to see, but Argentina keeps lying to bolster their false claims.
No matter how hard Argentina tries to spread these lies, they are transparent in the face of the truth. Other countries have seen this data and they know that Argentina is lying.
More people will move to the Islands in the coming decades, but not all of them will become Islanders. They will come for the oil exploration & production, but many will leave before they qualify to become an Islander.
A lot of people in the UK are attracted by the quality of life in the Islands, the tranquillity. So even whilst there is more immigration to the Islands, the number of native born Islanders keeps growing.
The Falkland Islands will go from strength to strength, whilst Argentina decays.
£30,000 per inhabitant... fantastic.
Dec 19th, 2013 - 09:56 am - Link - Report abuse 0The FIG Census report is available here:
Dec 19th, 2013 - 10:44 am - Link - Report abuse 0http://www.falklands.gov.fk/assets/79-13P.pdf
In view of the comments above page 13 and tables 9 to 12 may be of interest.
@11
Dec 19th, 2013 - 11:16 am - Link - Report abuse 0“You dont know my nationality.”
Because you are too ashamed to mention it?
“surely you at least know the majority of 'islanders' were born in England....right ??”
Dec 19th, 2013 - 12:23 pm - Link - Report abuse 0Incorrect
“You mean you didnt know that many of them live there only seasonally ??
lolol”
I know a few people that do that but not “many”. Unless you count some of the shearers that shear around the world
Vestige, tell us, we are waiting, or are you a frightened little Pony?
Dec 19th, 2013 - 04:08 pm - Link - Report abuse 0No Vestige of an intellect: WGAF what you are or what you think?
Dec 19th, 2013 - 04:16 pm - Link - Report abuse 0My bad. Should have said only a minority of the population of the islands were even born there .
Dec 19th, 2013 - 05:10 pm - Link - Report abuse 0“47% of the overall population were born in the
Falkland Islands”
Part-timers
6.17 - ”Over a quarter (26.9%) of the population were residing overseas ten years ago, this has decreased compared with 2006 when the figure was over a third (35%).”
( Thats cheating )
6.18 As shown in Figure 6.8, 78% (86 people) of people who arrived in the Islands within 6 months of birth were born outside the Falkland Islands for medical reasons with the
remaining 22% (24 persons) being born outside for other reasons which are not specified in the Census (e.g. migrating parents).
( minus 110 )
Only “62% of the total population have lived in the Falkland Islands for over 10 years”.
Im guessing that includes those who have in fact lived for extended periods abroad, and seasonal residents.
Anyway, nice link. Thanks.
This = genuine wtf.
p.35.
Of the 1,582 people who make up the current work force in the Falkland Islands (excluding MPA), 544 people have no recognised qualifications - 34% of the working population.
(i.e not even secondary education, workforce age) (34% ??)
Vestige - so what? Do you inhabit a land of recent immigrants - come clean...
Dec 19th, 2013 - 05:50 pm - Link - Report abuse 0Just don't put it in an Argentina bank.....
Dec 19th, 2013 - 06:27 pm - Link - Report abuse 0Like I said, lets all have a resounding round of applause for the people who made it and continue to make it all possible........The Argentines.
Dec 19th, 2013 - 07:12 pm - Link - Report abuse 0Vestuge- dumbo - of course we have had for decades and decades cumpulsory secondary education!
Dec 19th, 2013 - 08:28 pm - Link - Report abuse 0I know several folks who left School here at 15 - and today run their own businesses with annual turnoves of US$500,000 to 1.5 million. They did it then hard way - and good luck to them.
lol
Dec 19th, 2013 - 08:48 pm - Link - Report abuse 0@34
Dec 19th, 2013 - 10:56 pm - Link - Report abuse 0Secondary education has taught you what exactly, doesn't appear to have helped the Argentinian popilation, still living in 1832.
Its just a question people.
Dec 19th, 2013 - 11:40 pm - Link - Report abuse 029 vestige
Dec 20th, 2013 - 12:06 am - Link - Report abuse 0“Only “62% of the total population have lived in the Falkland Islands for over 10 years”.
Im guessing that includes those who have in fact lived for extended periods abroad, and seasonal residents. ”
That's 100% more than you or your friends, or others from Argentina.
None of you were born there or lived there - ever.
Not your islands
and not your business what they decide to do there.
Simple
If length of residence is the requirement of ownership of these islands then I think Argentina has even less rights.
Dec 20th, 2013 - 01:37 am - Link - Report abuse 0@ 8 Vestige who writes:
Dec 20th, 2013 - 02:52 am - Link - Report abuse 0' “the Falklands, and not Britain”. Same thing.'
Precisely. The Falklands are not Britain
- and in #29 “544 people have no recognised qualifications - 34% of the working population”
Perhaps not, but they just got £ 30.100 each (that's 450 000 Argentine pesos in the blue).
Chill out. Im just surprised at the 34%.
Dec 20th, 2013 - 03:49 am - Link - Report abuse 0Come on now, it is very unusual for a ...place...isn't it.
Was there some problem with testing/grading facilities, official recognition of accomplishment, a different scholastic system with no formal end qualification, data collection error.
There cannot be a population with 34% having no recognized qualifications surely. There are schooling facilities there.
It would be a first.
(albeit a hilarious one)
Big oil tanker leaves UK and steams South through the South Atlantic in ballast.
Dec 20th, 2013 - 05:57 am - Link - Report abuse 0Big oil tanker fills up with Falkland crude.
Big oil tanker steams North through South Atlantic to UK laden with $$$$ worth of Falkland crude.
No Hector it wont be stopping off in BA!
This is only the start. $146m now, but hundreds of billions to come.
Dec 20th, 2013 - 09:02 am - Link - Report abuse 0The Falkland Islands future is rosy. They will be protected by the UK as the Prime Minister promised in his Christmas message and the Islanders can look for to a future which means they are NOT dependant on Argentina in any way and NOT threatened by them either.
The Falkland Islanders will be rich. They might not necessarily receive a direct dividend from the oil wealth, although citizens in the middle east do, but what they will have is the best of facilities that the Falkland Islands Government can provide, whilst preserving the wild natural beauty of the Islands.
Argentina's failure to recognise that they cannot bully the Islanders means that they will miss out on the natural wealth. An extremely foolish thing when they are up to the eyeballs in debt. But then Argentina never likes to pay their debts on time - if at all!
”Of the 1,582 people who make up the current work force in the Falkland Islands (excluding MPA), 544 people have no recognised qualifications - 34% of the working population. ”
Dec 20th, 2013 - 11:51 am - Link - Report abuse 0I suppose it's not that strange, a lot of my dad's generation left school as soon as they could as the farming community was a more significant employer than it is now and jobs that you needed qualifications for were a lot rarer than they are these days. I'm not sure when it became compulsory to stay at school up until O-level/GCSE age, I'd have to look it up because it was before my day. Anyone born in the Falklands in the last 45 (circa) years will be qualified to at least that level.
Indeed, it's called Qualified By Experience. If you live in a farming community, it's very easy to pick up all the skills you need when you are growing up.
Dec 20th, 2013 - 12:06 pm - Link - Report abuse 0With the amount of money available to FIG, the Island's children will have their pick of educational courses and the very best universities - fully funded with grants. No student loans for Falkland Islands children. No debts - just a bright future.
The Falklands are still mainly agricultural, but I expect that will change in the next couple of decades as oil exploration related businesses locate to the Islands, to be closer to the rigs. I wouldn't be surprised to hear that people from both Norway and Aberdeen are already working on the relocation.
It's natural that a number of the Island school leavers will pick up jobs working for these companies.
41
Dec 21st, 2013 - 03:40 pm - Link - Report abuse 0That wouldn't make any financial sense.....
“Big oil tanker leaves UK and steams South through the South Atlantic in ballast.”
...How much does that cost.....
Big oil tanker fills up with Falkland crude.
“Big oil tanker steams North through South Atlantic to UK laden with $$$$ worth of Falkland crude.”
Again the cost.....
They need shortest transportation cost to closest refinery....SA mainland would be best....why buy expensive...sour heavy crude...when there is cheaper elsewhere?
@45 maybe you are unaware that the few very largest crude carriers still go around the Cape of Good Hope to reach the United States.
Dec 21st, 2013 - 10:13 pm - Link - Report abuse 0Admittedly the Americans produce nearly all of their oil locally nowadays, but they still import significant quantities of heavy crude from the middle east to mix with the lighter crudes found in the Americas.
Most of Europe's oil is shipped by pipelines, but they still import a large amount through the Suez Canal. It would not be financially inconvenient for Britain to import Falkland's crude. No more so than buying it from the middle east. In fact, it would be better that we are sending the oil dollars to a BRITISH territory for the BRITISH people who live there to enjoy.
# 41 “Again the cost.....
Dec 22nd, 2013 - 08:15 am - Link - Report abuse 0They need shortest transportation cost to closest refinery....SA mainland would be best....why buy expensive...sour heavy crude...when there is cheaper elsewhere?”
Yeah mate!
It would be cheaper to transport it to a refinery closer, say in the La plate a, but does Argentina have the hard currency to pay for it? These oil companies are exploiting the Falkland Islands oil assets on a commercial basis and expect to make money. They are not doing it to see the oil nationalised or plundered using some other excuse..
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