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
| 29 Apr 25 |
Spain: Prospex Energy provides update on Viura gas field Prospex Energy, the AIM quoted investing company focused on European gas and power projects, has been advised by the Operator of the Viura field, HEYCO Energia Iberia, of the temporary cessation of production of the new Viura-1B well due to a leak in the completion tubing. |
| 16 Apr 25 |
Spain: Prospex Energy completes acquisition of 100% of Tarba Energía and provides Viura drilling schedule update Prospex Energy has completed the acquisition of Tarba Energí through the purchase of the entire shareholding held by Warrego Energy in Tarba. The acquisition includes the El Romeral production concessions and the related gas-to-power plant in Carmona. |
| 10 Apr 25 |
Spain: Iberdrola España launches ATuAire to boost aerothermal energy with solutions to electrify heating and hot water Iberdrola España, the Spanish subsidiary of the Iberdrola Group, reinforces its commitment to the electrification of heat and launches ATuAire, a company specialising in aerothermal energy in Spain, which aims to spearhead and facilitate access to this energy solution to reduce dependence on fossil fuels, helping to improve air quality and reduce dependence on foreign sources of energy. |
| 08 Apr 25 |
Spain: RWE starts repowering of its Muel wind farm in Spain RWE has started the repowering of its Muel wind farm, located in the Aragon region near Zaragoza. Muel is one of the first onshore projects operating in this region undergoing such an extensive modernisation programme. |
| 08 Apr 25 |
Spain/Italy: Prospex Energy announces operational update - 187% increase in net production rates since 2024 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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