New Diplomatic Row Over Falklands Drilling

News: The Argentinean government has triggered a new diplomatic row with Britain over drilling offshore the Falkland Islands, reports Reuters, citing the Guardian. The country's congress passed a law threatening 'criminal sanctions' on companies involved in 'illegal exploration' of hydrocarbons in the Argentine continental shelf. A statement by the Argentinean embassy in London said: 'the law provides for prison sentences for the duration of up to 15 years; fines equivalent to the value of 1.5m barrels of oil; the banning of individuals and companies from operating in Argentina; and the confiscation of equipment and any hydrocarbons that would have been illegally extracted'.

This article is tagged to:
Sector: Oil & Gas
Geography: Argentina

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