Commodities
Argentina Threatens UK with International Tribunal Over Falklands Oil Drilling
Argentina has issued a two-week ultimatum to the UK to halt oil production at the Sea Lion field near the Falkland Islands, which Argentina refers to as the Malvinas. If the demand is not met, Buenos Aires plans to take the case to the International Tribunal for the Law of the Sea (ITLOS).
The Sea Lion project, led by Rockhopper Exploration and Navitas Petroleum, is estimated to contain up to 1.7 billion barrels of oil, approximately 220 kilometers from the Falkland Islands.
Argentina has previously initiated legal proceedings against Navitas Petroleum, as well as Canadian companies JHI Associates and Eco (Atlantic) Oil & Gas.