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
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)

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)
Major fields:

Portugal - recent news

22 Jun 23
Portugal: Galp and TotalEnergies to jointly explore offshore wind opportunities in Portugal
Galp and TotalEnergies agreed to jointly explore potential offshore wind opportunities in Portugal, as the country prepares to promote a plan for 10 GW of offshore wind-power capacity in the coming years. The two companies will work together to develop potential offshore wind projects along the Portuguese coast.
08 Mar 22
Portugal: Vestas secures first EnVentus order in Portugal
Vestas has received a 42 MW order for several wind parks in Portugal. With this project, Vestas totals over 900 MW of capacity either installed or under construction in Portugal. Vestas also provides service to almost 1 GW of wind turbines in the country, both from Vestas and other manufacturers.
09 Feb 22
Portugal: Iberdrola expands its photovoltaic business to Portugal with the construction of four plants
Iberdrola continues to make progress with its investment strategy in the Iberian Peninsula, this time in Portugal, where it has begun installing its first photovoltaic plants in the country with 86 MW.
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.

Portugal - more news

Other countries in this region

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current Deals

Current Upstream Deals: 234

Completed Deals

Completed Upstream Deals: 6571

Company Profiles

Current Company Profiles: 2912

Corporate Activity

Current Corporate Activity articles: 4149

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1658


Current Geostudies articles: 968

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Union Jack Oil 149
Telos NRG
Rose & Assocs
Government of South Australia
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675