Log in

Login to your account

Username *
Password *
Remember Me

Create an account

Fields marked with an asterisk (*) are required.
Name *
Username *
Password *
Verify password *
Email *
Verify email *
Captcha *

Latest News

Government’s plan to wrangle foreign developers in Lisbon and Porto with golden visa changes draws flak from property industry

Government’s plan to wrangle foreign developers in Lisbon and Porto with golden visa changes draws flak from property industry

Foreigners looking for a chance to secure residency in Portugal through the golden visa scheme are starting...

Number of tourists in 2019 smashed records in “historic year” for tourism in the Algarve

Number of tourists in 2019 smashed records in “historic year” for tourism in the Algarve

Growth in the number of guests (+ 7.2%), total revenue (+ 7.2%), and in overnight stays (+...

Economy minister hopes to keep six-year growth rolling with big spending plan

Economy minister hopes to keep six-year growth rolling with big spending plan

Portugal’s economy minister, Pedro Siza Vieira, doesn’t want his country to slow down, in the wake of...

GNR dismantle network of criminals behind spree of robberies in the Algarve

GNR dismantle network of criminals behind spree of robberies in the Algarve

A network of criminals, made up of five men between the ages of 18 and 34, responsible...

Portuguese government looks into subsidising UK tourists' post-Brexit healthcare

Portuguese government looks into subsidising UK tourists' post-Brexit healthcare

In a move to maintain current clinical practice, the government is looking into offering British tourists subsidised...

Facing the flames: How Portugal’s interior is preparing for the fires ahead

Facing the flames: How Portugal’s interior is preparing for the fires ahead

Portugal is one of the countries in Europe most threatened by wildfires, and as the climate changes,...

Iberian bishops express worries over political moves to legalize euthanasia

Iberian bishops express worries over political moves to legalize euthanasia

Portuguese and Spanish church leaders have criticized proposals to legalize euthanasia in their traditionally Catholic countries, and...

Politicians rally around racially abused Porto football player following monkey chants from crowd

Politicians rally around racially abused Porto football player following monkey chants from crowd

President Marcelo and the Prime Minister Antonio Costa have added their voices to a national outcry today...

Latest Features

Private Chef experience SUPPER STARS turns your home in the Algarve into the best restaurant

Private Chef experience SUPPER STARS turns your home in the Algarve into the best restaurant

With over 100 professional chefs in Portugal, Spain and in the United Kingdom, SUPPER STARS brings a talented brigade of world class private chefs...

What Are Excess Insurance Policies and Why Are They Useful?

What Are Excess Insurance Policies and Why Are They Useful?

Insurance is one of those things that you never want to think about. You go in, sign a few papers, and then head home....

The National Health System In Portugal - what are your views?

The National Health System In Portugal - what are your views?

In the news this week we saw a protest outside Portimão hospital, against the decline of clinical services in the SNS. What are your...

NHR - 2020 State Budget requires a minimum tax of 10% for foreign pensioners

NHR - 2020 State Budget requires a minimum tax of 10% for foreign pensioners

Expatriates to pay at least €7,500 in income tax per year on foreign sourced pensions With the proposed NHR changes in the 2020 State Budget,...

Protecting Your Long-Term Financial Security

Protecting Your Long-Term Financial Security

Blevins Franks will be holding a seminars throughout March and early April, to advise on protecting your long-term financial security.

Music Therapy brings joy to Alzheimer and Parkinsons sufferers

Music Therapy brings joy to Alzheimer and Parkinsons sufferers

Music often plays a big part in our lives. But for many patients with cognitive disabilities such as autism or dementia, music used...

Government scraps remaining oil exploration licences

oilrig2In a surprise move from the Prime Minister’s pro-oil government, the Ministry of the Economy has confirmed that the outstanding tenders for oil and gas exploration have been cancelled.

Seven licences were on offer to companies to allow exploration for oil and gas, and its subsequent extraction from blocks off the Algarve and Oporto shores, but these will no longer be sold or assigned.

The availability of these new licences was announced in September 2015 by the Pedro Passos Coelho administration.

The current Prime Minister António Costa already has made pro-oil statements, such as "it is absolutely essential for the country to know its natural resources and to continue exploration operations" for oil and gas.

The Algarve’s mayors and much of its population dependent on tourism has reacted badly to the discovery that oil rights over much of its sea and land has been sold off.

The Ministry of the Economy has stated that the scheduled launch of the new tenders "is not on the agenda of this government. The competition will not move forward."

In September 2015, José Miguel Martins, the then head of the National Authority for the Fuel Market (ENMC), said he was preparing to offer "four areas in the shallow offshore in the Oporto basin, two other areas in the deep offshore in the Oporto basin and an area in the deep offshore of the Algarve basin.”

"We are still in a relatively early stage, but our intention is that at the end of October, start of November in principle we can move forward," according to Martins.

The oil industry is on a go-slow at the moment with Repsol already having postponed the drilling of its first well off the Algarve coastline due primarily to the low international oil price.

The Spanish company wanted to ‘extend its survey stage’ for a further year to see whether the oil price recovers.

The current president of the ENMC, Paulo Carmona, said at a heated public meeting in Faro in January that oil companies have invested USD58 million in oil research in Portugal and have found evidence of hydrocarbons, although not in commercial quantities.

The oil issue has roused the Algarve’s population which will shouldering the environmental risks of the planned for local oil business. The lack of information on the contract terms with Repsol, Eni, Galp, Partex and Portfuel also has been an issue, as have the miserly royalty rates negotiated by the Passos Coelho administration.

The MP André Silva, representing the People, Animals, Nature political party, already has challenged the prime minister to have the "courage to break with the old paradigm" of fossil fuels and the exploitation of resources that can "completely undermine the tourism sector, particularly the beaches" of the Algarve.

António Costa responded that "there are contracts in place and which have to be fulfilled" adding that "the natural resources of the country are the ones we already know such as the beaches and the Algarve sun, but there also are natural resources that we believe exist and which we need to identify.”

How the PM can ever align the Algarve’s tourism business with an oil industry remains to be seen but the tide may be turning in the oil debate now that facts and contract details have been made available to the public at a time when the government is dependent on the generally anti-oil left wing to keep it in power.

Pin It

Comments  

-3 #4 Patrick Sudlow 2016-01-27 17:01
It is not just the tourist industry that could be badly affected by oil & gas exploitation. But, also the fishing, agricultural and sea salt industries. And the East Algarve is very vulnerable to rising sea-levels, if we do not drastically reduce are greenhouse gas emissions.
-1 #3 Verjini 2016-01-27 10:12
Well, well,well ... In view of Partex's announcement that Algarve's oil reserves 'may' be bigger than the Gulf of Cádiz's, the need for utmost pressure is more vital, no?
+4 #2 Ed 2016-01-27 08:08
Quoting Harry.T:


Contracts in place for oil exploration must be fulfilled says PM Costa. But Contracts in place for motorway building and toll collection can however be reviewed.

and the contract for the sale of TAP seems able to be dismantled....
+6 #1 Harry.T 2016-01-27 08:00
There is never the slightest indication in Portuguese administration that some important decision maker is making a decision based on what is 'right'.

Contracts in place for oil exploration must be fulfilled says PM Costa. But Contracts in place for motorway building and toll collection can however be reviewed.

You must be a registered user to make comments.
Please register here to post your comments.

Property

A Superb & Spacious Villa in Sesmarias, Albufeira

A Superb & Spacious Villa in Sesmarias, Albufeira

Located in popular Sesmarias to the west of Albufeira, this spacious villa is within walking distance of the superb Evaristo...

Character Carvoeiro Villa For Sale

Character Carvoeiro Villa For Sale

This impressive character 3+1 bedroom, 4 bathroom villa of 333.40m2 is situated on a gated 2.790m2 plot with immaculate gardens....

A Stylish Villa with Wonderful Spaces Indoors & Out

A Stylish Villa with Wonderful Spaces Indoors & Out

This beautiful, spacious, contemporary property is located within a large, walled plot in a calm, residential neighbourhood within a few...

A Charming Bungalow within Balaia Golf Village

A Charming Bungalow within Balaia Golf Village

This three-bedroom, semi-detached single storey bungalow is located at the heart of the well regarded Balaia Golf Village. With a...

Advertise your property for sale for just €50

Advertise your property for sale for just €50

Selling your property? We can help you showcase it to the world in the Algarvedailynews.com Property section with your own...

Exclusive Algarve Villas - January Newsletter

Exclusive Algarve Villas - January Newsletter

Exclusive Algarve Villas being you their January 2020 selction of properties for sale throughout the Algarve.

Latest Classifieds

LOOKING FOR APARTMENT TO RENT FOR NEXT YEAR
(Miscellaneous / Miscellaneous - Wanted)

noimage

-woodturning lathe
(Miscellaneous / Miscellaneous - For Sale)

-woodturning lathe

Organic TEMPEH
(Services / Offered)

Organic TEMPEH

M.H.S. Mobile Home Sitting
(Services / Offered)

M.H.S. Mobile Home Sitting

Subscribe

Want to be kept up to date? Subscribe to our regular E-Newsletter here.
* Please use a valid email address, as a confirmation email will be sent.

LIVE Exchange Rate