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Spain bans new oil and gas drilling

Spain has become the latest EU member state to place a ban on domestic oil and gas exploration following the passing of a climate and energy transition bill in its Congress on 13 May. 

The legislation states that the country cannot issue new fossil fuel exploration and production licences, and that existing licences must not be extended beyond 31 December 2042. It also requires public entities to divest any holdings in companies involved with fossil fuel exploration and production, as well as banning fracking.

Spain’s remaining oil assets are located in the Mediterranean Sea, where Repsol operates the Montanazo and Lubina fields. The country is pursuing a net zero by 2050 target and aims for 97% renewable energy in its total energy mix by that date. Though the country is currently heavily reliant on fossil fuel imports, it is turning its focus towards the development of solar and onshore wind resources.

According to the latest figures from the IEA, about 40% of Spain’s electricity still comes from fossil fuels, with about 24% coming from wind and solar and 21% coming from nuclear. Repsol recently announced that it has started construction of an 860 MW onshore wind complex in Aragon, made up of 26 individual wind farms. Once complete, the project will be the single-largest in Spain’s renewables portfolio.

Last December, Denmark became the first EU member state to place a moratorium on new domestic oil and gas projects.

News Item details


Journal title: Energy World

Countries: Spain -

Subjects: Oil and gas - Drilling - Energy transition -

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