Europe / Caspian / CIS

Portugal flag
Summary | Profile

Country profile: Portugal

Location: Southwestern Europe, bordering the North Atlantic Ocean, west of Spain
Climate: maritime temperate; cool and rainy in north, warmer and drier in south
Terrain: mountainous north of the Tagus River, rolling plains in south
Size: 92391 sq. km total (Land area: 91951 sq. km  Water area: 440 sq.km)
Population: 10,676,910 (July 2008 est.)
Languages: Portuguese (official), Mirandese (official - but locally used)
Government: republic; parliamentary democracy
Capital city: Lisbon
Legal system: based on civil law system; the Constitutional Tribunal reviews the constitutionality of legislation; accepts compulsory ICJ jurisdiction with reservations
Currency: euro (EUR)
Licensing:

Country profile

Both Spain and Portugal have been members of the European Union (EU) since 1986. EU membership has led to an increased standard of living and economic growth in the Iberian Peninsula and billions of dollars worth of EU structural funds flowing into the two countries. Nevertheless, both countries continue to face economic challenges. Spain's unemployment rate remains stubbornly high, while Portugal has repeatedly exceeded the EU's limits on budget deficits. Economic growth spurred by EU membership has led to increases in energy consumption. For example, Spain's energy demand has increased over 100 percent since the mid-1970s.

The Iberian Peninsula has limited energy resources, so both Spain and Portugal must depend upon imports for the bulk of their energy needs. Attempts to develop domestic energy sources, though, have focused on hydropower and renewables. Both countries have also sought greater integration of the Iberian energy sector through policy coordination and infrastructure projects. The two announced in 2001 that they would create a single Iberian electricity market without limits on transnational ownership or market participation. However, repeated delays have pushed implementation of this market, called Mibel, until October 2007.

Energy production and consumption


Oil Gas
Production: 9,500 bbl/day (2006 est.)  
Consumption: 305,800 bbl/day (2006 est.) 3 billion cu m (2006)
Exports: 43,070 bbl/day (2004 est.)  
Imports: 361,300 bbl/day (2004 est.) 4 billion cu m (2006)
Reserves:    
Major fields:



Portugal - recent news

27 Jul 20
Portugal: WindFloat Atlantic floating wind farm offshore Portugal now fully operational
WindFloat Atlantic, the first floating wind farm in continental Europe, is now fully operational and supplying clean energy to Portugal's electrical grid. With a total installed capacity of 25 MW, WindFloat Atlantic is the world’s first semi-submersible floating wind farm.
30 Mar 20
Portugal's solar energy auction postponed due to coronavirus
Portugal has postponed its second solar energy licensing auction due to the impact of the coronavirus pandemic, but still hopes to launch it by June if the spread of the outbreak starts to slow, the environment ministry said on Monday.
23 Oct 18
Portugal: World’s second floating offshore wind farm gets EU finance boost
The European Investment Bank has announced a €60m loan to help fund the world’s second floating offshore wind farm in Portugal.
02 Jul 18
Portugal: Galp to start drilling exploration well offshore Portugal
Portuguese oil company Galp Energia is set to start drilling the country’s first deep water offshore exploration well but with only modest hopes of success, its exploration and production director said on Monday.
20 May 18
Portugal: Eni-Galp given approval to drill offshore Portugal
Portugal’s Environment Agency, APA, confirms that the environmental studies and risk assessments already carried out on the Santola-1X project are exhaustive and has not identified significant negative environmental impacts. The well target is to confirm whether hydrocarbons may be present in the Portuguese offshore.

Portugal - more news

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