Rockhopper shares plummet after confirming Malvinas oil drilling project

Shares of British oil company Rockhopper Exploration suffered a sharp drop of 23% on Monday after the firm confirmed its participation and schedule in the Sea Lion offshore project, located in the Malvinas Islands basin. The stock price accumulated a 29% decline over the past month, amid trade sanctions imposed by Argentina, which has dubbed the project as illegal, as it claims sovereignty over the islands and their surrounding maritime area. The Sea Lion project is being developed in partnership with the Israeli firm Navitas Petroleum. Rockhopper confirmed that the project remains on track…