Argentina’s National Securities Commission (CNV) has officially warned hydrocarbon companies operating in the Argentine continental shelf, offshore of the disputed Falklands / Malvinas Islands, that they involved in "illicit and clandestine" activities.
The Commission announced on its website on 8 August that stock markets of London, Milan, Rome, Paris and New York have been notified of this warning as companies traded in those markets are operating Malvinas waters.
Oil and gas companies working offshore of the Falklands Islands, including Argos Resources, Rockhopper Exploration, Borders & Southern Petroleum, Falkland Oil and Gas and Desire Petroleum, have also been notified by the government of Argentina of the CNV’s resolutions, reported local media.
If these firms continue to operate in the area, they could pave the way for criminal and civil proceedings.
A release from the Argentine Foreign Ministry said: "The measures are in the framework of the legal actions started by Argentina against the illegitimate exploration and exploitation activities undertaken in the Argentine continental shelf."
Image: The Falkland Islands are an archipelago in the South Atlantic Ocean. Photo courtesy of: A-giâu.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData