Argentina Steps Up Measures Against Falklands Oil Exploration Firms

16 September 2026

LONDON/BUENOS AIRES, September 15 (Reuters) – Argentina will file new legal actions against companies conducting oil exploration near the Falkland Islands, the government said on Tuesday, intensifying Buenos Aires’ campaign against operators in the British overseas territory.

The measure is part of a broader initiative by President Javier Milei’s government, which is also preparing this week legislation to harden sanctions against companies operating in the Falkland Islands — called the Falkland Islands by the British. Analysts say this increases the likelihood of broader tensions with the United Kingdom if Buenos Aires moves to target other sectors of the islands’ economy.

The Argentine newspaper Clarín reported that a federal prosecutor filed a request to open an investigation against executives and shareholders of the Israeli company Navitas Petroleum and the British Rockhopper Exploration.

The government spokesman, Adrian Ravier, said at a press conference that new charges would be brought against companies operating in the Falklands, although he did not name names.

Milei’s government had already named Navitas and Rockhopper as targets as Buenos Aires pursues its sovereignty claim over the archipelago.

Navitas did not immediately respond to comment requests. Rockhopper declined to comment. Both companies had already stated that the oil field project possesses valid licenses from the Falkland Islands government and indicated that they do not expect Milei’s actions to hamper development.

The office of federal prosecutor Carlos Stornelli did not immediately respond to a request for comment.

The United Kingdom sought to reassure on Tuesday the companies operating in the Falkland Islands, stating, in guidelines published on the government site, that it supported all legitimate economic activities on the islands and defended the right of the inhabitants of the Falkland Islands to regulate their economy and develop their natural resources, including hydrocarbons.

“The UK government’s position is that Argentina has no right to exercise jurisdiction over the Falkland Islands nor to apply its internal laws on the islands, nor with respect to any companies or individuals participating in commercial activities on the islands or linked to them,” the United Kingdom said in its guidelines.

It also added that it did not see a legal basis for courts outside Argentina to enforce measures taken against such companies.

Argentina invaded the islands in 1982 and waged a ten-week war for them before surrendering to the United Kingdom.

James Whitmore

James Whitmore

I am a financial journalist specialising in global markets and long-term investment strategies, with a background in economics and corporate finance. My work focuses on translating complex financial data into clear, actionable insights for private investors and professionals. At Wealth Adviser, I contribute in-depth analysis on equities, macroeconomic trends, and portfolio construction.