June 24 (Bloomberg) — Repsol SA’s plans to explore for oil off the Spanish Canary Islands in a $10 billion project won backing from the nation’s Supreme Court.
The justices rejected seven appeals against Repsol’s exploration permits, and sentence will be published in coming days, according to a court official who spoke on condition their name not be used.
Today’s favorable ruling removes one of the last few hurdles remaining for the biggest Spanish biggest oil company to begin drilling off Fuerteventura and Lanzarote islands near West Africa. Should Repsol discover oil, it has estimated the project will cost 7.5 billion euros ($10.2 billion).
Fuerteventura Island, within the Canary Islands archipelago
The appeals contested the Spanish government’s decision in 2012 to reapprove exploration permits that were originally given in 2001. They had been held up since that year in court battles and administrative delays.
PARAMARIBO, July 5 (Reuters) – Petronas will begin drilling on Sunday, the first of three wells in an exploration campaign aimed at finding additional oil reserves at its offshore Block 52 in Suriname, state company Staatsolie...
Major General Mikhail Gudkov, deputy head of the Russian Navy who was praised and promoted by President Vladimir Putin, has been killed in action, depriving Moscow of one of its most senior officers, the Russian military said on Thursday.
Copenhagen-based offshore wind installation specialist Cadeler A/S (NYSE: CDLR / OSE: CADLR) announced today that Ørsted A/S has terminated their long-term agreement for a newbuild A-Class wind turbine installation vessel....
July 2, 2025
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