MercoPress https://en.mercopress.com/ South Atlantic News Agency en Copyright 2026, MercoPress. https://en.mercopress.com/web/img/en/mercopress-logo.gif MercoPress http://en.mercopress.com/ <![CDATA[Argentina’s Sea Lion case could founder on Falklands sovereignty, a legal expert warns]]> The expert believes Argentina will pursue every legal, diplomatic and political avenue to block the project, and suggests that Milei may also be seeking to stir national pride ahead of the elections Argentina’s case against the United Kingdom over the Sea Lion oil project north of the Falklands “could fall at the first hurdle”: the jurisdiction of the International Tribunal for the Law of the Sea, which cannot settle territorial sovereignty disputes, according to Australian law of the sea expert Donald R. Rothwell. The tribunal will hold hearings on Argentina’s request on November 10 and 11 in Hamburg.

]]> Mon, 02 Nov 2026 00:57:00 GMT <![CDATA[Shell and TotalEnergies double profits on a refining boom]]> France’s TotalEnergies posted adjusted net income of US$9.1 billion, against US$4 billion a year earlier and above the US$8.3 billion forecast European oil majors Shell and TotalEnergies doubled their profits in the third quarter of 2026 and posted their best quarterly results since 2022, driven by refining margins almost four times higher than a year earlier amid tensions in the Middle East, according to results published on Thursday. Both expanded their share buyback programmes.

]]> Fri, 30 Oct 2026 01:00:00 GMT <![CDATA[Falklands unveil 2026-2030 Islands Plan, with a sovereign wealth fund for energy revenues]]> Under the first priority, the Plan aims to create the conditions for the economy to grow and diversify “while also ensuring effective regulation of industries” The Falkland Islands Legislative Assembly on Thursday published the Islands Plan 2026-2030, the programme of government for the current Assembly, which provides for a sovereign wealth fund so that energy sector revenues benefit future generations and acknowledges that the government faces some of the largest projects in its history, with a capital programme of more than £300 million. Executive Council formally adopted the Plan on October 27.

]]> Thu, 29 Oct 2026 14:49:00 GMT <![CDATA[Falklands approves bill on oil pollution emergencies in relation to offshore installations, and responsibilities]]> The Director of Mineral Resources will be the competent authority – “Falkland Islands contingency plan” and “offshore installations” used in the OPRC Regulations. The Falkland Islands Executive Council has approved a set of Regulations 2026 to amend the Maritime (Oil Pollution Preparedness, Response and Co-operation Convention) Regulations 2019 (“the OPRC Regulations”) to make provision for the preparation and maintenance of oil pollution emergency plans in relation to offshore installations and to require the persons responsible for offshore installations to report oil incidents where oil is discharged into the sea.

]]> Wed, 28 Oct 2026 15:10:00 GMT <![CDATA[Latin America’s energy inflation reaches its highest level in a year]]> The study, based on data from the statistics institutes and central banks of member countries, shows energy inflation exceeded the previous high for the period, 8.03% in June Annual energy inflation in Latin America and the Caribbean accelerated to 8.33% in August, its highest level in twelve months, and pressure on fuel prices continued in September and October, when diesel prices matched petrol for the first time, according to a report by the Latin American Energy Organization (OLADE) published by the Energy Report website.

]]> Wed, 28 Oct 2026 03:30:00 GMT <![CDATA[Milei hopes to exploit the Falklands’ oil dispute in next year’s election]]> By Vicky Kapogianni Associate Professor of International and Environmental Law, University of Reading - Argentina is trying to stop a planned oil project near the Falkland Islands. On October 13, the government asked the International Tribunal for the Law of the Seas (Itlos), a court in Hamburg that deals with disputes over the sea, to halt the project. Argentina says the UK approved the drilling without its agreement and in breach of Argentina’s rights to the seabed.

]]> Thu, 22 Oct 2026 13:35:00 GMT <![CDATA[A partial win in Hamburg could help Milei in 2027, an analysis suggests]]> The tribunal will hold its hearing on November 10 and 11 Argentina has slim chances of persuading the International Tribunal for the Law of the Sea to halt the Sea Lion oil project north of the Falklands by invoking its sovereign rights, but it could secure a partial victory on environmental grounds that would help President Javier Milei ahead of the 2027 election, according to an analysis by an international law academic published on The Conversation.

]]> Thu, 22 Oct 2026 02:24:00 GMT <![CDATA[Argentina and the UK to face off in Hamburg on November 10 over Falklands oil]]> Argentina submitted its request on October 13, pending the constitution of the arbitral tribunal under Annex VII of the United Nations Convention on the Law of the Sea The International Tribunal for the Law of the Sea will hold hearings on November 10 and 11 on Argentina’s request for an order requiring the United Kingdom to halt the Sea Lion oil project north of the Falklands. The dates were set by the tribunal’s president, Judge Maurice K. Kamga, in an order dated October 20.

]]> Wed, 21 Oct 2026 01:46:00 GMT <![CDATA[Argentina awaits the Supreme Court after the YPF case is closed at first instance]]> Preska’s judgment, which exceeded US$18 billion with interest, was the largest ever imposed on a state by a US court New York federal judge Loretta Preska has vacated her 2023 judgment ordering Argentina to pay more than US$16 billion over the expropriation of oil company YPF and formally closed the case at first instance. Its future now depends on whether the US Supreme Court agrees to review it, as litigation funder Burford Capital requested in early October.

]]> Tue, 20 Oct 2026 09:52:00 GMT <![CDATA[Brent touches US$110 for the first time since May on Middle East tensions]]> Attacks around Hormuz have intensified over the past ten days, with Iran saying it is responding to the US blockade of its ports and tougher sanctions imposed last month Brent crude reached US$110 a barrel on Friday for the first time since May, driven by fears that escalation in the Middle East could further tighten supplies and by doubts over how much diesel Russia can supply to the market. Brent settled 3.7% higher at US$109.86, its highest since May 19, while US benchmark WTI rose 3.5% to US$101.41.

]]> Sat, 17 Oct 2026 06:17:00 GMT