Europe / Caspian / CIS
Country profile: Spain
| Location: | Southwestern Europe, bordering the Bay of Biscay, Mediterranean Sea, North Atlantic Ocean, and Pyrenees Mountains, southwest of France |
| Climate: | temperate; clear, hot summers in interior, more moderate and cloudy along coast; cloudy, cold winters in interior, partly cloudy and cool along coast |
| Terrain: | large, flat to dissected plateau surrounded by rugged hills; Pyrenees in north |
| Size: | 504782 sq. km total (Land area: 499542 sq. km Water area: 5240 sq.km) |
| Population: | 40,491,051 (July 2008 est.) |
| Languages: | Castilian Spanish (official) 74%, Catalan 17%, Galician 7%, Basque 2%, are official regionally |
| Government: | parliamentary monarchy |
| Capital city: | Madrid |
| Legal system: | civil law system, with regional applications; 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: | 29,350 bbl/day (2005 est.) | 151 million cu m (2005 est.) |
| Consumption: | 1 million bbl/day (2005 est.) | 30 billion cu m (2005 est.) |
| Exports: | 175,200 bbl/day (2005 est.) | |
| Imports: | 1 bbl/day (2005 est.) | 31 billion cu m (2005 est.) |
| Reserves: | 157 million bbl (1 January 2006 est.) | 2 billion cu m (1 January 2006 est.) |
| Major fields: |
Spain - recent news
| 21 Mar 25 |
Spain: Plenitude begins construction of a new 90MW solar power plant in Spain Plenitude has started the construction of a new 90 MW solar plant in the municipality of Fortuna, in the Region of Murcia, in Spain. |
| 20 Mar 25 |
Spain: KGAL commissions 47-megawatt solar park in southern Spain The renewable energy fund KGAL ESPF 4 has connected the 'San Fernando' solar park, with a capacity of 47 megawatts peak (MWp), to the power grid in the province of Cádiz, southern Spain. With more than 3,000 hours of solar irradiation per year, the region has the highest solar irradiation in Spain. |
| 20 Mar 25 |
Spain: Prospex Energy announces proposed acquisition of 100% of Tarba Energía and Viura drilling schedule update Prospex Energy has signed a binding agreement to become the sole shareholder of Tarba Energía, the company through which Prospex holds its investment in the El Romeral production concessions and associated El Romeral gas-to-power plant situated near Carmona in southern Spain and in the Tesorillo and Ruedalabola exploration permits (currently suspended) in the Cadiz province in southern Spain. |
| 03 Mar 25 |
Spain: ACCIONA Energía closes the sale of 626MW hydro assets in Spain to Endesa Energy ACCIONA Energía has received approximately €1 billion for the transaction. The 626MW transaction corresponds to 34 hydroelectric plants located in the Spanish regions of Aragón, Navarra, Soria and Valencia. |
| 25 Feb 25 |
Spain/Italy: Prospex Energy announces operational update Prospex Energy, the AIM quoted investment company focused on European gas and power projects, has provided an operational update on its production, development and drilling schedules across its portfolio of three producing natural gas assets onshore Europe: Viura, Selva and El Romeral. |
Spain - more news
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