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Latest News

Algarve entrepreneurs are 'pioneers in the production of medical swabs' in the fight against COVID-19 in Portugal

Algarve entrepreneurs are 'pioneers in the production of medical swabs' in the fight against COVID-19 in Portugal

Daniel Varela and Joana Pedroso are two young Algarvians who, when they realized they could help fight...

Mathematician suspects exponential growth peak was surpassed on 3rd of April, as 471 COVID-19 deaths estimated in Portugal by August

Mathematician suspects exponential growth peak was surpassed on 3rd of April, as 471 COVID-19 deaths estimated in Portugal by August

In view of the official figures released today by the Directorate-General for Health (DGS), which indicate 345...

Four out of five workers worldwide suspended totally or partially due to pandemic

Four out of five workers worldwide suspended totally or partially due to pandemic

The International Labour Organization (ILO) estimates that four out of five of all workers have been affected...

Health secretary reveals Portugal carried out 110,000 COVID-19 tests in March

Health secretary reveals Portugal carried out 110,000 COVID-19 tests in March

Portugal has carried out 110,000 diagnostic tests for COVID-19 since March 1st, the Secretary of State for...

Portugal’s coastal history of Neanderthals supping on seafood, researchers unveil fisher-hunter-gatherer lifestyle

Portugal’s coastal history of Neanderthals supping on seafood, researchers unveil fisher-hunter-gatherer lifestyle

In a mountain range in Setúbal, in a cave high above the modern coastline, a remnant of...

Bankers are 'mobilized to help the Portuguese economy', says optimistic Marcelo

Bankers are 'mobilized to help the Portuguese economy', says optimistic Marcelo

The President of the Republic affirmed this Monday that he found, upon discussions with a group of...

Makro open their doors to all consumers during the state of emergency

Makro open their doors to all consumers during the state of emergency

The wholesale chain Makro is operating as of today as a regular retailer, on a temporary basis,...

Low-cost Portugal-made ventilator innovators work against the clock in the fight against COVID-19

Low-cost Portugal-made ventilator innovators work against the clock in the fight against COVID-19

As COVID-19 continues to spread through Portugal, many are concerned about the number of ventilators available in...

Latest Features

Can a scar be beautiful?

Can a scar be beautiful?

Cheryl Gilmore, daughter of an American father and proud Portugeuse mother, moved here from Atlanta, Georgia, with her husband Ron four years ago. her...

Gale`s Westminster View From Isolation – March 2020

Gale`s Westminster View From Isolation – March 2020

Mad March. It all began so normally. Boris bumbling, The Tramp in ranting self-denial, Joe Biden and Bernie Sanders slugging it out for...

Latest News on Covid-19 Measures In Portugal

Latest News on Covid-19 Measures In Portugal

Read about the new measures announced by the Prime Minister earlier this week, plus Q A's to some frequently asked questions regarding...

Algarve History Association: April 2020 Newsletter

Algarve History Association: April 2020 Newsletter

See a preview of potential future events. CLICK HERE to read the Algarve History Association Newsletter: April 2020. (images/pdf/April.pdf)

AlgarvePLUS Magazine - April 2020

AlgarvePLUS Magazine - April 2020

Welcome to the April issue of AlgarvePLUS magazine. Enjoy a good, absorbing read that will inform and entertain. CLICK HERE and view full screen to...

A day-to-day reflection of the new school day at the Colégio Internacional de Vilamoura

A day-to-day reflection of the new school day at the Colégio Internacional de Vilamoura

"Take care dear teacher, don't leave your home ..." It's 9:30 am. Ema Costa, a Junior Seconday School student, is sitting facing her computer...

Partex Oil says 'the Algarve may have more reserves than in the Gulf of Cadiz'

oilblocsalgarveOil and/or gas reserves off the Algarve's sun-kissed shores may be higher than in the Gulf of Cadiz, according to oil company Partex which intends to start drilling in October or November this year.

António Costa e Silva, president of Partex which is in partnership with the Spanish giant Repsol, has offshore oil and gas exploration and extraction rights along the Algarve’s coast.

Costa e Silva remains downbeat at the international market, "the price of oil has to help us," he warns, "the price situation is very depressing," but adds, that "things are going as planned" and that the "seismic surveys already have been done about 40 kilometres from the coastline.”

"There is a clear geological continuity with what we see in the Gulf of Cadiz," added the Partex president who failed to mention that any oil or gas found off the Algarve coastline will be piped or shipped to Huelva in Spain where it will be processed, stored and distributed.

Partex, whose holding company is registered in the Cayman Islands for tax planning purposes, remits 100% of its profits to the Caluoste Gulbenkian Foundation which in turn supports social and arts projects in the UK and Portugal while studiously avoiding the issue of turning the Algarve’s onshore and offshore into an oil production zone with attendant risks to the population, the economy and ecology of the region.

Partex claims to have spent USD15 million over the past four years, with a planned spend of USD40 million if it gets to the drilling stage, explained António Costa e Silva in carefully timed press announcement to show how much these oil companies have been spending on research.

Even Sousa Cintra, the owner of Portfuel which was granted both of the onshore concession blocks that cover most of the Algarve, commented, "We are making investments, these studies cost a lot of money."

The Italians are spending a USD70 million of the Alentejo coast, the list goes on as the oil companies continue their positive PR campaign to persuade us all that they are investing in our futures.

The Algarve of course has woken up to the environmental threats to the region and its tourism industry with the support of the region’s mayors and business associations.

The oil companies have not been able to explain to, nor convince the Algarve and Alentejo populations that oil is a good thing, for two reasons: the money and the risk, but they care little for either as Big Oil managed to get the deals done behind closed doors with the last government happy to sign away oil exploration and extraction rights without informing those affected and without Environmental Impact Assessments.

The Algarve will not benefit financially from an oil business as none of it is planned to be based here, indeed Repsol has admitted it will be processing in Spain.

The risk of oil spillage, accidental discharge, noise pollution, visual impact and contamination of the Algarve's underground water supply is too much for tourism business owners and locals to contemplate after 50 years of work to create a tourist region currently among the best in the world.

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Comments  

-2 #2 angrytom 2016-01-27 20:37
It's a choice if they want to invest but not an argument to start (allow) drilling.
0 #1 Mutley 2016-01-26 19:47
Politicians that sign those contracts, and many similar ones, are not the stupid, brainless morons that they want you to believe they are. NOBODY is that stupid! Actually they purposely create that idea to shift the attention away from their real interests that are purely personal. Criticism will focus on the bad decisions they make and that is what they need.

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Property

Algarve Property Market Outlook 2020 Revised for COVID-19 | Estate Agent Land & Houses Algarve

Algarve Property Market Outlook 2020 Revised for COVID-19 | Estate Agent Land & Houses Algarve

With the outbreak of the COVID-19 virus and subsequent economic fallout we are revising our already cautious annual outlook for...

Fine & Country lockdown news from the Algarve & market update

Fine & Country lockdown news from the Algarve & market update

In our 3rd week of lockdown, but life goes on! This photo was taken at around midday on April 3rd,...

Recently Reduced Properties in the Algarve

Recently Reduced Properties in the Algarve

"When life gives you lemons, make lemonade." A worldwide phrase used to encourage optimism and positivity in the face of...

Exclusive Algarve Villas - March 2020 Newsletter

Exclusive Algarve Villas - March 2020 Newsletter

At Exclusive Algarve Villas we’re like most of the world in the ‘corona virus lock down’ with the difference that...

SeatoSky Homes March 2020 Property Selection

SeatoSky Homes March 2020 Property Selection

This month's selection of new listings and interesting properties for you from each of the areas we cover: Silves, Lagoa,...

Unique Quinta Development & Investment Opportunity

Unique Quinta Development & Investment Opportunity

This is an incredible opportunity to purchase a substantial country estate with approved project consent to develop a thirteen-bedroom aparthotel...

What's Happening?

Online Coffee & Conversation in April

Online Coffee & Conversation in April

We know how important it is to continue connecting with people, that is why we facilitate free online Coffee Conversations meetings, so you won't miss out on your...

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