IBEX




Iberdrola and Endesa affected by drought in Spain

Iberdrola and Endesa’s Results Affected By Impact Of The Drought In Spain

Droughts are not new in Spain, but current year is the third driest year of all time, behind 1981 and 2005. This situation is hitting the hydroelectric capacity of both Spanish utilities Iberdrola and Endesa. In fact, hydroelectric production in Spain fell almost 58% as reservoirs are at 37% capacity when they are normally at 60% during this time of the year.







Tecnicas Reunidas, leading the bid for Aramco Gas Projects

Tecnicas Reunidas, Leading The Bid For Aramco Gas Projects

According to market sources, Tecnicas Reunidas has presented the most competitive offer to construct two gas projects tendered by Saudi Aramco. Other companies involved in the bid are Saipem and Samsung E&C. The result could be announced at the beginning of November.