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2014-11-01 12:15:00

SPAIN OIL & GAS

SPAIN OIL & GAS

Following a series of local set backs, Spain's national government has moved once again to boost domestic oil and gas exploration with the environmental clearance of two wells in the northern Basque region of the country.

The approval, which was granted to Spanish energy giant Repsol, comes as Madrid continues its push to revive the country's hydrocarbon production sector, which has lagged in recent decades. Although the country boasts domestic potential, Spain still relies heavily on imports to meet its oil and natural gas needs. While Madrid has recently cleared the way for some domestic exploration efforts, including both shale and offshore efforts, Spain still looks abroad…

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Tags: OIL, GAS, SPAIN, REPSOL, EUROPE
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