Argentina targets energy firm over Falklands operation
Argentina's government has said it will file criminal charges against energy company Navitas Petroleum and its executives for operating in the Falkland Islands.
Argentina's authorities have announced plans to file criminal charges against energy firm Navitas Petroleum and its executives. This decision comes in response to President Javier Milei's recent pledges to impose sanctions on oil companies operating within the British overseas territory of the Falkland Islands. According to a statement from the presidency, Foreign Minister Pablo Quirno will take legal action against several Navitas subsidiaries and their partners, as well as their directors, for allegedly violating Argentine law.
The government claims that the firms breached licensing agreements issued by the United Kingdom for hydrocarbon exploration and exploitation in the North Falkland Basin. Navitas Petroleum, which operates the Sea Lion offshore oil project in the Falklands, holds a 65% stake in the company. The Sea Lion field is managed by the Israeli-listed Navitas Petroleum, with Gideon Tadmor, a prominent figure in the Israeli energy sector and the company's chairman, owning roughly 9% of the shares, according to LSEG data.
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