Falklands oil drilling begins

Drilling on the first oil well in the Falkland Islands in over a decade started yesterday, despite protests from Argentina, which claims the British territory. Explorer Desire Petroleum said it spudded - or broke ground - at a well on its offshore “Liz” prospect. Liz could contain reserves of up to 400 million barrels, analysts said, although the risk of hitting nothing was also seen as high.