Argentina has awarded five oil companies licenses to explore for hydrocarbons offshore, in the country's continental shelf, in an area identified as the Argentine Sea, or South Atlantic, which basically extends between the continent and the Falkland Islands
By Terry Karl (*) - The death of Margaret Thatcher will not change the necessity for or the timing of negotiations on the Falklands/Malvinas issue. This political football has re-emerged repeatedly – regardless of the leaders in power – usually for domestic reasons in both Argentina and the United Kingdom. There is little political will for a settlement in the short-term on either side, especially now that offshore oil is publicly and definitively in the picture.
UK government has awarded 46 new offshore exploratory drilling licences to firms, including Shell and Centrica, looking for oil and gas. The awards were initially held back due to environmental concerns.
The US government's export credit agency has authorized $3 billion in financing for Brazil, including 2 billion US dollars for the Brazilian government-managed oil company Petrobras.