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Argentina and Great Britain fought a brief war over the islands in and relations have remained tense on the sovereignty issue since, with neither side sitting down for talks. The situation worsened in when UK companies started drilling in the area around the islands. It's still uncertain if any finds will be discovered off the coast of Argentina, where there has been little exploration and the only production for years has been in shallow waters in the Austral Basin to the south of the Falkland Islands off the coast of Tierra del Fuego.
Indeed, Argentina's Energy Secretary Dario Martinez said in the press conference that he doesn't expect the sanctions to sour the appetite of other companies to invest in Argentina, including in its largely virgin offshore region. Please use the button below and we will bring you back here when complete. Yet a decade after the discovery of as much as 1.
As the coronavirus ravages economies and cripples demand, European oil majors have made some uncomfortable admissions in recent months: oil and gas worth billions of dollars might never be pumped out of the ground. With the crisis also hastening a global shift to cleaner energy, fossil fuels will likely be cheaper than expected in the coming decades, while emitting the carbon they contain will get more expensive. These two simple assumptions mean that tapping some fields no longer makes economic sense.
BP Plc said on Aug. The oil industry was already grappling with the energy transition, copious supply and signs of peak demand as Covid began to spread. The pandemic will likely bring forward that peak and discourage exploration, according to Rystad Energy AS.
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