Navitas

Britain has approved the massive Sea Lion oil field development near the Falkland Islands, backing Israeli energy firm Navitas Petroleum despite objections from Argentina.

British firm Rockhopper Exploration, a partner in the Sea Lion project, is preparing for a Tel Aviv Stock Exchange listing. The company raised $200 million, with 40% of its shares already held by Israeli investors.

The oil and gas exploration partnership Navitas recorded a sharp jump in revenues in the second quarter of 2026, following the start of full production at its flagship project - the Shenandoah reservoir in the Gulf of Mexico. Net profit stood at $77 million, compared to a loss of $56 million in the same quarter last year.