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🇦🇷 Argentina /Elections & Politics

Opposition says oil company sanctioned over Falklands operations benefited from Argentina’s RIGI incentives

From La Nación · () Spanish

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

At a glance

News Named sources New plan
  • Southern Energy received approval to join Argentina’s RIGI investment incentive program despite having Harbour Energy among its shareholders, an affiliate formerly known as Premier Oil.
  • Argentina barred Premier Oil from operating until 2028 after accusing it of unauthorized hydrocarbon activity near the Falkland Islands in 2013.
  • Opposition lawmaker Maximiliano Ferraro asked Economy Minister Luis Caputo and Foreign Minister Pablo Quirno how the sanctioned company became part of the project.

Southern Energy has entered Argentina’s investment incentive regime despite having among its shareholders an oil company that the government sanctioned over operations near the Falkland Islands. The arrangement has prompted opposition demands for explanations from senior ministers.

Harbour Energy owns 15% of Southern Energy. Before changing its name from Premier Oil in 2021, the company received a 15-year ban in 2013 for violating Law 26.659, which sets conditions for hydrocarbon exploration and production on Argentina’s continental shelf. The ban remains in effect until 2028, according to lawmaker Maximiliano Ferraro.

Ferraro, who leads the Civic Coalition, argued that the name change did not create a new legal entity or erase the earlier sanction. “According to what would appear in United Kingdom corporate records, Premier Oil PLC and Harbour Energy PLC would not be two different companies, but the same legal entity, registered under a single registration number, with a corporate name change carried out in 2021,” he wrote on X.

According to what would appear in United Kingdom corporate records, Premier Oil PLC and Harbour Energy PLC would not be two different companies, but the same legal entity, registered under a single registration number, with a corporate name change carried out in 2021.

· Maximiliano FerraroThe opposition lawmaker argued that Harbour Energy remains subject to Premier Oil’s sanction despite the name change.

The Economy Ministry approved Southern Energy’s entry into RIGI through Resolution 559/2025. The project involves a planned investment of $2.825 billion over the next decade to export liquefied natural gas. Southern Energy plans to build infrastructure for two liquefaction vessels in Río Negro. The first vessel is expected in early 2027 and the second in 2028, with projected gas processing capacity rising from 11.5 million cubic meters per day to 16 million.

Pan American Energy owns 30% of Southern Energy, YPF 25%, Pampa Energía 20%, Golar LNG 10% and Harbour Energy 15%. Ferraro said, “No administrative act can override a ban that remains in force,” and asked ministers to explain how a company sanctioned until 2028 became part of a project benefiting from RIGI.

No administrative act can override a ban that remains in force.

· Maximiliano FerraroFerraro challenged Southern Energy’s eligibility for Argentina’s investment incentive program.
About this summary

Originally published by La Nación 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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