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
| 27 Nov 24 |
Spain: Prospex Energy provides update on Viura-1B well test AIM-listed Prospex Energy, the investment company focused on European gas and power projects, has provided an update on the schedule of the flow testing at the Viura-1B development well, which is expected early in December. |
| 25 Oct 24 |
Spain: Prospex Energy announces resumption of production at the Viura gas field Prospex Energy reports that the Viura gas field is currently back on production with gas being flowed from the existing producing well Viura-1 ST3. Production revenues from the Viura-1B well are expected in November 2024. |
| 17 Oct 24 |
Spain: Plenitude starts construction of a new 220MW solar plant in Villarino de los Aires in Spain Plenitude has started the construction works in Villarino de los Aires (Salamanca, Spain) of a solar plant, with a future installed capacity of 220 MW, that will be among the largest in Castilla y León. |
| 09 Oct 24 |
Spain: Plenitude announces the start of operation of a 13 MW wind plant in Soria, Spain Plenitude has announced the start of operation of the wind farms of Numancia in the area of Almarza (Soria, Spain). The project has three Vestas V136 wind turbines with installed capacity of about 13 megawatts (MW) and will have an estimated production of 31 GWh/year. |
| 02 Oct 24 |
Spain: Prospex Energy's Viura-1B development well reaches reservoir horizon AIM-listed Prospex Energy has announced that initial drilling of the Viura-1B development well in northern Spain has delivered better than expected preliminary results, successfully reaching the reservoir and prompting the decision to appraise a deeper section of the well.The well is one of three wells targeted for drilling at the producing Viura gas field. |
Spain - more news
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