The search for oil off the coasts of Fuerteventura and Lanzarote appears to be at stalemate.

Spanish newspapers are reporting that there is still a hold-up in official permission from the Spanish Government and it is not known when, or if, there will be an announcement.

The national headlines have therefore been on the theme of “Oil? When? No-one knows!”

Oil exploration in this part of the Canary Islands has been the subject of much controversy for at least ten years and has led to court cases, appeals and legal rulings.

A few weeks ago, it was announced that the Minister of Industry, Tourism and Energy, José Manuel Soria had confirmed preliminary studies to determine if there was oil off the two coasts had started. However, authorisation has not been granted and Repsol YPF is apparently still waiting for the Government to make a decision. At the moment and until that happens, the project continues to be paralysed.

It had previously been stated in Parliament that the chance of finding oil was 20% and Repsol have indicated the possibility of a daily output of about 140,000 barrels.