CNV reports of illegal oil exploration in Malvinas to international markets

The National Securities Commission informed the main international stock markets that resolutions taken by the national Energy Secretariat declare foreign oil exploration activities in the Argentine continental shelf in Malvinas islands as ‘illicit and illegal.'

The Foreign Ministry informed New York, London, Milan, Rome and Paris stock exchanges, where the oil companies operate, that after being handed a final notice by the Government, their oil exploring activities in Malvinas islands were declared “clandestine and illegal.”

“The aforementioned resolutions declare Argos Resources LTD, Rockhopper Exploration PLC, Borders & Southern Petroleum PLC, Falkland Oil and Gas Limited and Desire Petroleum PLC’s activities in the Argentine continental shelf as clandestine and illicit,” the Foreign Ministry said in a communiqué.

This step allows the Argentine state to initiate penal lawsuits, in case it considers it necessary to do so.