The Spanish government will allow oil and gas exploration in the waters surrounding the Canary Islands near Morocco.
The government will allow the exploration of oil and gas in the waters surrounding the Canary Islands near Morocco that could be full of good quality oil, "said the Spanish Minister of Industry, Energy and Tourism, José Manuel Soria, during his speech before the Congress of Deputies (lower house of parliament).
Source : https://www.marocafrik.com/english/The-Spanish-gov...
The minister was quoted by the agency Europa Press, the exploration area is located approximately fifty nautical miles from the Canary Islands "in the same area where Morocco allows research." MAP reports
Spain, imports about 98 pc of its oil needs and can not "lose interest in the exploitation of this deposit", if it discovers oil and gas in that area, he said. At a time of grave economic crisis Spain naturally looks to optimise revenue opportunities. Cepsa and Repsol are Spain's main oil exploration companies.Spain receives natural gas from Algeria via the Medgaz pipeline.
Spain, imports about 98 pc of its oil needs and can not "lose interest in the exploitation of this deposit", if it discovers oil and gas in that area, he said. At a time of grave economic crisis Spain naturally looks to optimise revenue opportunities. Cepsa and Repsol are Spain's main oil exploration companies.Spain receives natural gas from Algeria via the Medgaz pipeline.
Source : https://www.marocafrik.com/english/The-Spanish-gov...