Spain Oil & Gas Q2 2020
Spain is a minor oil and gas producer, relying heavily on imports of both oil and gas, a situation that is unlikely to changewithin the forecast period. In addition, we believe that prospects for onshore unconventionals are unlikely to materialise within ourforecast period. The country's large refining sector is exposed to the problem of European overcapacity and weak European fuelsdemand, and could face cuts over the coming years.
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