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 Oct 25 |
Spain: Repsol and Norwegian Cruise Line Holdings sign long-term agreement to supply renewable fuels in Barcelona Repsol has signed a landmark 8-year agreement with Norwegian Cruise Line Holdings (NCLH) to supply renewable marine fuels at the Port of Barcelona, establishing an unprecedented long-term relationship within the cruise industry. |
| 20 Oct 25 |
Spain: Prospex Energy announces production restart at Viura field Prospex Energy, the AIM quoted investing company focused on European gas and power projects, has informed shareholders that gas production has resumed from the Viura-1B well in the Viura gas field in northern Spain. |
| 16 Oct 25 |
Spain: Repsol and Forestalia promote Spain's largest power hybridization project in the region of Aragon Repsol and Forestalia will promote the largest energy hybridization project in Spain and one of the largest worldwide in the northern Spanish region of Aragon. Repsol's 818 MW combined cycle power plant in Escatrón, Zaragoza, will be hybridized with fifteen wind farms, totaling 805 MW, acquired from Forestalia, which will continue to be the developer until they are commissioned. |
| 12 Oct 25 |
Spain: Repsol pioneers industrial-scale production of 100% renewable gasoline Repsol has achieved a technological milestone with the first industrial-scale production of 100% renewable gasoline at its industrial complex in Tarragona in Spain. The new product, made entirely from renewable sources, is fully compatible with gasoline vehicles without the need for any modifications. |
| 30 Sep 25 |
Spain: Repsol to build its first large-scale renewable hydrogen plant in Cartagena Repsol continues to make solid progress in its strategic plan and has given the green light to its first large electrolyzer, with 100 MW of capacity, at the company’s industrial complex in Cartagena in eastern Spain. The facility will be able to produce up to 15,000 tons of renewable hydrogen per year, which the company will use as feedstock. |
Spain - more news
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