Portugal’s Government locks holding in Algarve

Portugal’s Government terminated the contracts with the company of Sousa Cintra, of research, development and production of oil onshore in the areas designated for Aljezur and Tavira and initiated a process of cancellation in the consortium between Repsol and Partex for oil exploration and production in the basin of the Algarve, in the South of the country.

The justification was that the company operating onshore Sousa Cintra does not have enough experience to have only three years of activity in the business. In the case of Repsol and Partex, the national entity for the fuel Markets concluded that there is a breach not justified the workplan for 2016.

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