Energy

Among them, Professor Michel Armand, Honorary Scientific Director of the CIC EnergiGune, who leads the results of the centre in Álava, ranked 506 worldwide in the 2025 scientific impact ranking. 

The increase in demand and the increase in gas are both factors, according to experts. 

However, markets fear that oil prices will continue to rise as a result of tensions in the Middle East and the closure of the Yanbu pipeline.

Following the closure of a major Saudi oil pipeline, the situation has worsened and fuel prices continue to rise, with an average price of around EUR 1.9 per litre.

The US president has called it "the world's largest oil deal," and the Venezuelan president has thanked him for strengthening cooperation.

The energy company has made more profits, partly because of the increase in the value of the oil and refined products it had in its warehouses, and because of the rise in the price of oil, these products previously purchased or stored by the company are now worth more, which has had a positive impact on the results of EUR 823 million.

At the opening of the Vidrala photovoltaic plant, the Industry Advisor stressed that this self-consumption will help reduce dependence on fossil fuels.

The Spanish Government decreed a tax cut in March on the occasion of the war in Iran, which expires on Monday, although the tax measures on fuels and the Value Tax on Electricity Production will be in effect until June 30.

The UN has warned of the risk of disease spreading, and more than 100,000 patients have delayed operations due to lack of energy and medicines. 

The changes are constantly taking place on the geopolitical board and Europe is looking for directions. The new series of reports directed by EITB's Head of International Area, Mikel Reparaz, has analysed the challenges facing Europe at the current geopolitical crossroads.

Only seven major producers (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman) will meet at a meeting after the United Arab Emirates decided to leave the organization.

The company's gross operating result between January and March (Ebitda) reached EUR 4,067.1 million, 9.7% less than a year ago. 

Although energy consumption in the Basque Country has fallen by 8.6% over the past two decades, Aitor Urresti, a doctor in Thermal Energy and professor at the UPV-EHU, has explained that this decline has been caused by the outsourcing of energy industrial processes and the change in production model, as well as the increase in consumption in the transport sector, which has increased the size of vehicles and the so-called "bouncing effect".

Álava, Bizkaia and Gipuzkoa consume less energy than they did 20 years ago. The decline in industrial consumption and the increase in transport have transformed the energy distribution and continues to depend on fossil fuels.

It will be investigated whether the company reduced production or supply "without authorization" and "breached the duty of availability" on the day of the blackout. 

They have instructed the Ministers of Economy and Finance to work on more concrete and effective measures so that they can be implemented in the short term.

Ivan Grande has pointed out that the current geopolitical situation may affect the economy of airlines and airports, but believes that kerosene production plants in Spain guarantee fuel "in the short term."

The summit is scheduled for tomorrow in Cyprus because the rotating presidency of the Council of Europe corresponds to the third largest island in the Mediterranean Sea. On Friday they will discuss the war in the Middle East, with the presence of the High Representatives of Jordan, Syria, Lebanon, Egypt and the Gulf. 

Spanish airlines are expected to increase passengers by 5.7% this summer compared to last year, with a projected turnover of EUR 260 million.