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🇵🇦 Panama /Energy & Infrastructure

Argentina to investigate companies linked to oil projects near the Falklands

From TVN Panamá · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement Under investigation
  • Argentina said it would begin sanction proceedings against 45 entities allegedly linked to hydrocarbon activity near the Falkland Islands, including shareholders and service providers.
  • Oilfield-services companies Schlumberger, Halliburton and Baker Hughes said they do not participate in, or plan to join, projects near the islands.
  • The move follows President Javier Milei's tougher stance on the sovereignty dispute, while the United Kingdom reiterated that the islands are British and will remain so.

Argentina is opening an investigation into possible links between 45 entities and hydrocarbon projects around the Falkland Islands, the South Atlantic archipelago claimed by both Buenos Aires and London. The announcement came after President Javier Milei said “favorable winds of change” were blowing for Argentina's historic claim and promised tougher sanctions against oil projects near the islands.

A presidential statement said sanction proceedings would target not only companies allegedly carrying out hydrocarbon activities on Argentina's continental shelf, but also their shareholders and companies providing them with services. It did not name the entities. Argentine media reported that companies from Britain, Canada, Denmark, the United States, the Netherlands and Israel could be among them.

Favorable winds of change

· Javier MileiMilei used the phrase in a speech while describing Argentina's sovereignty claim over the islands.

On Saturday afternoon, oilfield-services companies Schlumberger, Halliburton and Baker Hughes issued statements saying they do not participate in, and do not expect to participate in, hydrocarbon projects near the islands. Milei later shared a report about their statements on X, adding the acronym “TMAP,” meaning “everything is going according to plan.”

Everything is going according to plan.

· Javier MileiMilei posted the phrase after oilfield-services companies denied involvement in projects near the islands.

The islands lie 600 kilometres from Argentina and are administered by the United Kingdom. They were the site of a 1982 war that ended with the surrender of Argentina's then-dictatorial government after 74 days of fighting. The conflict killed 649 Argentines and 255 Britons.

Milei's harder line came days after an apparent shift by his ally Donald Trump. Referring to the United States' traditional neutral position on the islands, Trump said, “I always review all positions. This is one of many,” without elaborating.

I always review all positions. This is one of many.

· Donald TrumpTrump made the remark while referring to the United States' position on the Falkland Islands.

London responded by reaffirming that the islands “are British and will remain so, because that is the overwhelming will of their inhabitants.” The British government also said its commitment was “unshakeable.”

Are British and will remain so, because that is the overwhelming will of their inhabitants.

· United KingdomLondon reaffirmed its position on the islands' sovereignty.
About this summary

Originally published by TVN Panamá in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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