A UN Commission recommendation to expand Argentina's waters to include those around the Falkland Islands hit shares in oil and gas companies with interests in the South Atlantic.
The UK has played down reports that a United Nations commission has ruled that Argentina’s territorial waters should be extended to include the Falkland Islands.
Madalena Energy said it has terminated its planned acquisition of additional interest in the Coiron Amargo block in Argentina.
Total has started up production at the offshore Vega Pleyade gas and condensate field in the Tierra del Fuego region of Argentina.
President Energy successfully completed two workeovers on its assets Argentina.
The election of a new Argentine president is an opportunity to develop a “more mature relationship” with Buenos Aires over the Falkland Islands, David Cameron has told the territory in a Christmas message.
South America-focused President Energy has said its initial results from its Argentine assets were "encouraging", achieving its best daily production and helped by a continued strong oil price in country.
Argentina’s president Cristina Fernandez praised her government’s achievements in her first public comments since her party’s lacklustre election performance. She urged voters Argentines to defend them in the presidential run-off election next month. Ms Fernandez used a late night speech to remind Argentines of steps taken by her left-of-centre administration. This included the nationalisation of Aerolineas Argentinas and the YPF oil company, social welfare programmes for the poor and free education in public universities.
President Energy has extended its options on the Puesto Guardian prospect in Argentina, which was due to expire in 2026 to a new unconventional concession until 2050.
Argentina’s ambassador to the UK has reportedly described new Labour leader Jeremy Corbyn as “one of ours” and claimed he could “decisively guide“ British public opinion towards “dialogue” over the Falkland Islands. Alicia Castro said that she felt “joy, a great satisfaction” that Mr Corbyn - who she first met in 2002 - had been chosen as leader of the opposition. And she claimed that the Islington North MP’s victory was “without doubt” a sign of a “change of winds” in the UK over the Falklands.
Argentina focused Madalena Energy has reported its financial and operating results for the three and six months ended June 30, 2015.
Argentina ended some financial incentives today that were intended to boost energy investment in its huge shale oil and gas deposits, even as it seeks to narrow an energy trade gap.
Argentina has commenced legal action against five companies currently drilling for oil and gas in the Falkland Islands. The move was announced by the Argentinian minister for the Falklands after a judge in Rio Grande agreed to take on the case. Drilling for oil and gas in the resource-rich Falklands area by London-listed companies remains controversial as a decades-long row between the UK and Argentina over the sovereignty of the islands has not been resolved. The case will involve three UK firms as well as two other companies from the US.
Argentina is depending on two things to reverse a three-year energy shortfall that’s costing $6 billion a year: a shale formation bigger than Massachusetts and Miguel Galuccio, who has worked on drilling operations from North Dakota to Poland and India. President Cristina Fernandez de Kirchner appointed Galuccio chief executive officer of YPF SA (YPF) in 2012 after she seized control from Spain’s Repsol SA. Since then, Galuccio has tripled investment in the state-run oil company in an effort to reverse a decline in output that’s led to crippling energy shortages and drove Argentina’s energy imports to record highs. As oil prices plunge below $60 a barrel and global producers revise their spending, Galuccio is sticking with a strategy for the Vaca Muerta shale formation that relies on foreign partners with a long-term view.