Hedge funds have been quietly building up stakes in the oil explorers operating off the Falkland Islands betting that companies will ignore the threats made by Argentina to disrupt the activity, according to a Reuters’ piece published this week.
The Falkland Islands will have a new deep-water port facility capable of meeting the demands of all incumbent industries it was announced following this week's meeting of Executive Council (ExCo).
A socio-economic impact study on the effects of an oil development project on the Falkland Islands did not reveal any, “major new concerns which had previously escaped attention Director of Mineral Resources Stephen Luxton told Penguin News this week.
Interview with Sam Logan (*) Angering Spain by seizing and nationalizing a majority of Repsol's shares in YPF and ramping up the rhetoric over the Falkland Islands as exploration deals promise to make the territory a major oil player overnight, Argentina is making few friends in the fossil fuels industry these days.
Argentina will take legal actions against Britain's Premier Oil after the company agreed to invest 1 billion dollars to help develop an oil field off the disputed Falkland Islands, Argentina's Foreign Ministry said on Monday.
Rockhopper Exploration Plc shares surged in London trading following a report that Texas based Anadarko Petroleum Corp. is in talks with the only company to have made a commercial oil discovery off the Falkland Islands.
Britain will protect the people of the disputed Falkland Islands for as long as they want to remain British citizens, Defence Secretary Liam Fox said on Wednesday speaking at the annual conference of the ruling Conservative Party.