Europe / Caspian / CIS
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
| 24 Jul 24 |
Portugal: Iberdrola increases its renewable production in Portugal with two new photovoltaic plants The Montechoro I and II PV plants, located in the Algarve region of southern Portugal, have been completed and now contribute to the country's renewable energy production capacity. With a total installed capacity of 37 megawatts (MW) and a total annual production capacity of 56.84 GWh, the projects were awarded to Iberdrola in an auction in 2019. |
| 18 Jun 24 |
Portugal: Iberdrola obtains final environmental authorisation to build Portugal's largest wind farm Iberdrola obtained the final environmental approval from the Portuguese government to build the country's largest wind farm. The new wind farm will have a capacity of 274 MW, equivalent to the consumption of 128,000 households, and will be built in the town of Vila Real, in Braga. |
| 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. |
Portugal - more news
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