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Falklands’ oil not viable

Tags: Falkland Islands, oil, Business, World, News
 
Mar 30, 2010 16:54 Moscow Time
Falkland Islands. Photo: EPA
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 A test drilling by  Oil explorer Desire Petroleum has ended in failure  on the Falkland Islands. Experts say this shatters hopes to find oil reserves in the region. Desire Petroleum shares lost 50percent of their price  on the London Stock Exchange. Still, the experts hope to find large oil reserves in the south of the region. This is the source of  tension between London and  Argentina, which claims the British territory. Britain established rule on the islands in the 19th century and defeated an Argentine invasion of the islands in 1982.

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