Argentina targets energy firm over Falklands operation

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Argentina's government has said it will file criminal charges ⁠against energy company Navitas Petroleum and its executives for operating in the Falkland Islands.

The move follows remarks on Friday by Argentine President Javier Milei, who vowed to sanction oil companies drilling in the British overseas territory as he stepped up the South American nation's sovereignty claims.

According ‌to a statement ⁠from the presidency, Foreign Minister Pablo Quirno will file the criminal complaint against several Navitas subsidiaries and partners operating in the territory, along with their corporate directors.

Navitas did not immediately reply to ‌a request for comment.

The government alleges the firms violated Argentine law ⁠by holding hydrocarbon exploration and exploitation licenses issued by ‌the United Kingdom in the North Falkland Basin.

Mr Milei ⁠last week ‌singled out the Sea Lion offshore oil project as he announced measures targeting companies involved in Falklands oil and gas activities, ⁠with penalties potentially extending to shareholders, directors and suppliers.

The Sea ⁠Lion field is operated by Tel Aviv-listed Navitas Petroleum, which holds a 65% stake.

Gideon Tadmor, a prominent figure in Israel's energy sector and the company's chair, holds about 9% of its shares, according to ‌LSEG data.