Spain Energy Minister Guarantees Stable Fuel Supplies

Spain has confirmed that its national fuel supply remains secure despite the ongoing geopolitical instability affecting global energy markets. Energy Minister Sara Aagesen stated on Tuesday that the country is in a "privileged" position relative to its European peers regarding the availability of kerosene, diesel, and gasoline.

The current supply concerns stem from the conflict involving the United States, Israel, and Iran, which has led to a blockade of the Strait of Hormuz. This disruption has placed upward pressure on global benchmarks such as Brent Crude Oil and West Texas Oil, while European airlines have called for emergency measures from the European Union to address potential jet fuel shortages.

Aagesen emphasized that the Spanish energy sector is bolstered by a fleet of eight domestic refineries, including those operated by REPSOL SA. These facilities produce approximately 80% of the kerosene consumed within the country, significantly reducing reliance on external imports.

"Our situation is not only robust, its privileged."

The minister further noted that while many European partners are heavily dependent on fuel imports, Spanish refiners have not experienced supply disruptions. This infrastructure provides a strategic advantage as the region navigates the complexities of the current energy crisis.

"This is a very advantageous situation compared to many European partners, where the opposite is true: they are dependent on imports."

When asked directly if the government could guarantee the continued supply of essential fuels, Aagesen provided a definitive confirmation, citing the strength of the domestic refining industry as the primary safeguard against external shocks.