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Page added on November 27, 2010

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The Big Oil Land Grab


With territorial ownership being put forward in all four corners of the globe, including Great Britain’s claim to the Falkland Islands and more recently Japan’s claim to the Kuril Islands, Great British and Argentinean armed forces are on standby for inevitable confrontation. Argentina dispute Great Britain’s claim to the Islands they call Islas Malvinas and Russia dispute Japan’s claim to the Kuril Islands.

A British company has begun drilling for oil in the territorial waters of the Falkland Islands, despite strong opposition from Argentina. Argentina claims sovereignty and has imposed shipping restrictions.
UK Defence Minister Bill Rammell said the government had a “legitimate right” to build an oil industry in its waters.

Japan is concerned by the holding of Russia’s Vostok-2010 military drills on Iturup Island, the largest of the disputed South Kuril Islands, Japan’s Kyodo news agency said.

In November of 2009 the Japanese government reiterated the accusation that “the Russian Federation is illegally occupying four northern islands.”

The Russian Foreign Ministry responded by labelling a document issued by Tokyo as “unacceptable.” The document identifying the alleged “illegal occupation by Russia” of the Kuril Islands, stating:
“We consider it necessary to stress that the Southern Kuril Islands are an inseparable part of the Russian Federation territory on legal grounds based on the WW2 results in accordance with the legally binding agreements and treaties between the ally states, as well as the UN Charter that was ratified by Japan.”
Last month then-Japanese Foreign Minister Katsuya Okada spoke of the Kurils being “illegally occupied by Russia.”

In light of this instability some of the world’s biggest energy companies have been called to attend the Oil & Gas Summit in Rio de Janiero on the 1st to the 3rd of February. The caliber of the delegation attending would suggest that there is serious negotiation to be done with the current territorial dispute being one of the possible topics discussed along with the upstream solutions to downstream management. The organizations confirmed from Latin America to attend the event so far are; Pemex, CNH, Geopark, Ancap, BPZ energy and Repsol.

Before the financial crisis gripped the globe in late 2007, countries that had disputed territorial claims to land off their regional borders tentatively agreed to disagree. It’s only now, in recent months, with fears of a double dip recession panicking nations into looking further afield, to find new ways to kick start their own flagging economies, have opposing governments made their territorial claims louder and more aggressive.

At the Oil & Gas Summit government officials along with major players from the world biggest energy companies (as stated above) and industry experts will negotiate cost effective, safe and market leading solutions to the successful extraction of sought after, hotly disputed and depleting natural resources their country may possibly own.

One Comment on "The Big Oil Land Grab"

  1. KenZ300 on Sun, 28th Nov 2010 3:00 am 

    Limited resources and an ever expanding world population will push resource poor nations to the edge.

    How will resource poor nations cope.


    China is a rich country making deals around the world for resources. It will be interesting to see how China’s command and control economy reacts to resource shortages. Will they mandate electric vehicles? Will they mandate a larger share of solar and wind power for their electric grid?

    Other not so rich countries may be left out.

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