How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
...you can learn Spanish at a variety of locations across Spain, online or residential and day courses in Spain?
Regardless of your standard, and whatever level you wish to reach Don Quijote has a program to suit your needs!
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily Brief - Thursday 6 March 2014
- QROPS 2014
- Mr Grumpy is Intolerant
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Join us for FREE IHT advice in Murcia & Costa Calida
- Gibraltar Relations
- Pensioners 'misled' by Co-op Bank
- UK Inflation no problem for Governor Carney
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
Spain says has alternative crude supplies to Iran
Spain has arranged to replace the 15 percent of its crude supplies that typically comes from Iran with alternative suppliers in case the Islamic state halts crude exports, Industry Minister Jose Manuel Soria said on Thursday.
On Wednesday, Iran's Oil Ministry denied a report by state Press TV that the country had halted oil deliveries to France, Portugal, Italy, Greece, Netherlands and Spain in retaliation for an EU ban on Iranian crude due to take effect in July.
Soria told a business conference in Madrid Spain was currently importing less than 15% from Iran but gave no details on amounts.
"The most important operators in Spain have advised me they have contracts ready and supplies are guaranteed," he said. "I hope prices will not escalate, but we shall be watching out."
On Wednesday Soria told Spanish state television that Spain's two largest oil refiners, Repsol and Cepsa, had arranged alternative supplies mainly from Saudi Arabia, Russia and, to a lesser extent, Iraq.
Spanish Foreign Minister Jose Garcia Margallo said Spain's ambassador in Iran had told him Tehran had not suspended crude exports.
"It has been said to him and the ambassadors of France, Portugal, Italy, Greece and Ireland that Iran is demanding three conditions," Garcia Margallo said during an official visit to Algeria.
He said the conditions were payment guarantees, that Iran would not accept short-term deals but wanted contracts for 3 - 5 years, and finally a waiver on exercising the force majeure clause in case contracts were rescinded.
Repsol declined to comment on how much it was importing from Iran or any alternative supplies.
Cepsa said in a statement it was importing 70,000 barrels per day (bpd) from Iran - 50% of it contracted, 50% on the spot market - which accounted for 15% of its total provisioning.
"The company is currently settling crude purchases from Middle East countries, underlining in Cepsa's case, crude from the United Arab Emirates," said the company, which is owned by Abu Dhabi investment vehicle IPIC.
Repsol has the capacity to refine a total of 870,000 bpd and Cepsa 430,000 bpd. BP also operates a 110,000 bpd refinery in Spain.
The latest official data show Spain imported 4.931 million tonnes of crude in November, which is equivalent to about 1 million bpd, depending on the density of the oil.
Latest News & Stories
- Spain airport operator AENA eyes IPO this year
- Spanish Transport Federation Denounces British Transport Tax
- Spain marks 10th anniversary of Madrid bombings
- Spain sees closure of 27 bars per day during crisis
- Spain revamps debt rules to help struggling companies
- Vodafone reaches preliminary deal to buy Spain's Ono
- Aerocas approve award of contract for Castellon Airport
- Education reform protects Spanish more than other official languages
- Spain "should impose fiscal devaluation to restore competitiveness" : Montoro
- Orange Spain revenues down 1.9% in Q4 to €992 Mln
- Electricity suppliers - and how to change them
- Buying a Car in Spain
- Alternative Energy Sources in Spain