Spain will impose caps on gas prices and cut its special electricity tax to 0.5% from 5.1% as part of a package of measures to bring down soaring energy prices, Continue Reading
Spain’s oil major Repsol plans to reduce its oil business operations and increase five times its renewable energy portfolio by 2030 as part of its latest strategic plan unveiled on Continue Reading
Spain’s government has opened a month-long window for green hydrogen project developers to register their plans with the state following a pledge to invest Eur1.5 billion ($1.8 billion) in the Continue Reading
Buckling under the resurgence of the coronavirus in Europe, the Spanish government on Sunday declared a national state of emergency that includes an overnight curfew in hopes of not repeating Continue Reading
Spanish shipbuilder Navantia is stepping up its bet on offshore wind energy, a venture that stands to benefit from the European Union’s fiscal response to the pandemic. The landmark 750 billion-euro Continue Reading
View full article at www.bloomberg.com
MADRID (Reuters) – Some 4.8 million Madrid residents will be barred from leaving the area from Friday evening, making it the first European capital back into lockdown due to surging Continue Reading
More than three million people in Madrid have had new restrictions imposed on their lives as Spain tries to control the most serious second wave of Covid-19 infections in Europe. Continue Reading
Coronavirus is spreading far faster in Spain than in the rest of Europe, confronting the country with a race against time to bring the outbreak under control before the return Continue Reading
Spain’s cabinet is set to approve a bill setting out a path to reduce greenhouse gas emissions to net-zero by 2050 on Tuesday, putting it on course to join a Continue Reading
Spain has shed close to 900,000 jobs, more than half of them temporary, since it went into lockdown in mid-March to fight the coronavirus outbreak, social security data showed on Continue Reading
Just last weekend, about 120,000 people marched through downtown Madrid to celebrate International Women’s Day. Some 60,000 soccer fans filled one of the city’s largest stadiums. And 9,000 supporters of Continue Reading
Spanish authorities said Sunday that they have closed airports on the Canary Islands because of a wind storm that is blinding the archipelago with sand and dust. Spain’s airport authorities Continue Reading
Spanish installed capacity stood at 110.1 GW as of end-2019, up 6% year on year following additions of 4 GW of solar PV and 2.3 GW of wind capacity, new Continue Reading
Spanish gas-fired generation in November fell from its average level in October as renewable output surged, while coal-to-gas switching continues, according to S&P Global Platts data and Red Electrica data. Continue Reading
Spain will host U.N. climate change talks in December after Chile withdrew, the United Nations said on Friday, a last-minute switch which raises big logistical challenges and has left activist Continue Reading
Madrid has offered to hold the next United Nations climate talks, the leaders of Spain and Chile announced on Thursday. The announcement came a day after Chile said it could Continue Reading
U.S. buyout firm Carlyle Group has agreed to buy between 30 and 40 percent of Spanish energy company Cepsa from Abu Dhabi state investor Mubadala, valuing the stake at as Continue Reading
Spain has launched an ambitious plan to switch its electricity system entirely to renewable sources by 2050 and completely decarbonise its economy soon after. By mid-century greenhouse gas emissions would Continue Reading
Spain is the next European country to outline new goals that could make it among the leaders in renewable energy, new analysis from Wood Mackenzie found. A report emailed to Continue Reading
Spain’s oil and gas company Repsol will stop pursuing production growth in its upstream oil and gas division as it is getting ready for the energy transition, Bloomberg reports , Continue Reading
French and Spanish energy companies said Monday they were setting their sights on building up the wind energy potential off the coast of France. French energy company ENGIE counts an Continue Reading
Repsol SA said Thursday its first-quarter net profit fell by almost half as falling energy prices hit Spain’s largest oil company. Repsol said net profit in the first quarter was Continue Reading
Abengoa SA has filed for bankruptcy protection in the U.S. as the Spanish energy company continues talks with its banks and bondholders to agree on its plan to restructure billions Continue Reading
Iran is in talks to help build a refinery in Spain, an Iranian oil official told state media over the weekend, as it seeks to secure buyers for its oil Continue Reading
ENLARGE Repsol’s drilling program off the coast of Spain’s Canary Islands angered environmental groups. A sign from a 2014 protest, above, reads ‘No to oil companies, yes to renewables.’ Agence France-Presse/Getty Images MADRID— Repsol on Friday said it would abandon drilling off the Canary Islands, ending a year-long conflict that had pitted the Spanish oil company and central government against islanders worried about the effect oil extraction may have on the environment. An exploratory well reaching more than 3,000 meters below sea level found methane and hexane gases but it “lacked the necessary volume and quality to consider future extraction,” Repsol said. The company said it would seal off the well within a week and that it won’t carry out a previously planned second drilling. The well closure puts a cork in a controversial project that began over a decade ago, when seismic studies first suggested there could be […]
Spain’s government gave Repsol SA (REP) final authorization to begin exploring off the Canary Islands , capping the energy company’s 12-year quest for permission to tap what may be the nation’s biggest oil find. The Industry Ministry approved the project in a resolution dated Aug. 11 and published today in the Official Bulletin. The Spanish company’s partners are Woodside Energy Ltd. of Australia and German power company RWE AG. Should the drilling be successful, Madrid-based Repsol has estimated it will spend as much as 7.5 billion euros ($10 billion) to develop the site in waters near the Canary Islands of Fuerteventura and Lanzarote off Africa’s west coast. Spain’s largest oil company, which was held up for more than a decade by environmental challenges and delays by the government, has said it expects to begin work before year-end. Geologists have estimated the area between the Canaries and Morocco may hold […]
Spain overtook Norway last month to become the region’s biggest exporter of liquefied natural gas. The southern European nation has never produced any of the fuel. The twist is a consequence of the crisis that left more than a quarter of Spain’s workers unemployed as the economy weakened for nine straight quarters. Utilities that contracted to buy LNG before the slump are now contending with a sixth consecutive year of diminishing domestic demand, spurring them to re-export cargoes. The trade is being underpinned by prices in Asia and South America that are about 30 percent higher than in Europe. Japan is importing more after shutting down its nuclear power plants following the Fukushima disaster in 2011. South American nations are accelerating purchases after a drought in Brazil limited the supply of hydroelectric power and cold snaps in the U.S. curbed pipeline flows to Mexico. “It doesn’t make much sense […]
A few years ago, fracking in Spain seemed as likely as bullfighting in Britain. These days, energy companies from Texas, Canada and Ireland are going after exploration and drilling permits in hopes of capitalizing on geology that indicates Spain has a sizable chunk of the 883 trillion cubic feet of natural gas in shale estimated to sit under Europe . What’s changed? A sluggish economy for one — the energy industry estimates fracking could eventually create tens of thousands of jobs in a nation with an unemployment rate of 26 percent. Unlocking gas deposits might ease what consumers pay for the heating fuel. It’s about triple the U.S. price. As important, the national government, with the economy in mind, took a pro-fracking stance even as regional and local authorities harden what’s long been widespread European environmental opposition to oil and gas development of any kind. In December, two years […]
