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Portfuel takes out press adverts to explain its case in Algarve oil and gas row

sousacintraSousa Cintra, (pictured) the Algarve entrepreneur, millionaire and owner of controversial oil exploration company Portfuel has taken out a series of display advertisements in national and regional newspapers to explain his position on drilling in the Algarve.

Portfuel mysteriously won two concessions, to look for oil and gas across the Algarve in two blocks covering 300,000 hectares, despite having no experience in oil and gas and having no employees.

The agreements signed last September give Portfuel the sole rights to explore and extract any oil or gas lying beneath the country’s premiere tourist zone and have caused much local protest.

Such has been the strength of local activists, business groups, the region’s mayors and concerned members of the public that the concession process is being unpicked by a parliamentary committee of inquiry and the government already has asked for a legal opinion to see if it can tear up the deals.

Secretary of State for Energy Jorge Seguro Sanches has received a report on the Portfuel affair from the National Fuels Authority and said he wanted to "withdraw without paying compensation."

Seguro has asked for an opinion from the Attorney General on the validity of the contracts signed by former minister Moreira da Silva.

In his defence, Sousa Cintra says in newsprint that "it is crucial to clarify that Portfuel is one of the 15 currently existing concession holders in Portugal, which may prospect and search for oil and gas."

"Portfuel is contributing to the geological mapping of the Portuguese territory and is only doing research and surveying as it is not allowed to do any exploration work or production without the prior authorisation of Portugal’s National Fuels Authority," reads the clarification.

"As regards the legal requirements, Portfuel fulfills all the required conditions," states Sousa Cintra despite the president of the National Fuels Authority, Paulo Carmona saying yesterday that there are good reasons to terminate the oil and gas exploration contracts with Sousa Cintra as he has failed to follow the steps necessary and provide certain guarantees and documentation.

Carmona, speaking at the parliamentary committee of inquiry called by the ruling Socialist Party, said "there are weaknesses in the performance of the contract" and found "a difficult situation to accept, especially due to repeated delays in the delivery of documentation and an insurance document from a company that is not recognised."

 

 

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Comments  

0 #3 pedrobu 2016-05-20 08:56
" concessions of..... 17...

eheheh ;-)
+1 #2 The Digger 2016-05-20 07:43
This long complaint from Sousa Cintra that "nobody loves him" hopefully will prove to be similar to Richard Gere's famous advert in The Times announcing the he and his wife Cindy Crawford both were blissfully happy just months before their separation and divorce - Portfuel may soon lose its concession for the dodgy was in which to obtained the rights to the Algarve's subterranean mineral wealth for 40 years, but for failing to supply documentation and work plans etc and for being an off the shelf company set up to get the license, rather than an oil company with resources and employees. Cintra is a chancer and should step away gracefully. He won't of course, and will spend the next ten years in court suing the state for loss of profit.
+4 #1 ASMAA 2016-05-19 18:48
Not a cheap exercise ... but they don't have one concession of 15, but 2 :-) (Tavira and Aljezur)

How's that for attention to detail? It clearly denotes the lack of professionalism that one can't afford to have in an oil company - today its a number, tomorrow its a life ... and he want's to frack the Algarve ... neh, he must just frack the hell out of here.

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