Argentina Targets Energy Firm Over Falklands Operation

Argentina is preparing criminal charges against Navitas Petroleum and its executives for operating in the Falkland Islands, escalating President Javier Milei’s campaign over the country’s sovereignty claim.

Foreign Minister Pablo Quirno will file the complaint against several Navitas subsidiaries and partners operating in the territory, as well as their corporate directors, according to a statement from the presidency. Navitas did not immediately respond to a request for comment.

The Argentine government alleges that the companies breached Argentine law by holding hydrocarbon exploration and exploitation licences issued by the United Kingdom for the North Falkland Basin.

Milei singled out the Sea Lion offshore oil project on Friday as he announced measures against companies involved in Falklands oil and gas activities. The potential penalties could extend to shareholders, directors and suppliers.

The Sea Lion field is operated by Tel Aviv-listed Navitas Petroleum, which owns a 65% stake. Gideon Tadmor, a prominent figure in Israel’s energy sector and the company’s chair, owns about 9% of its shares, according to LSEG data.