Spanish energy sector lit by power battles
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The Spanish energy sector, the scene of clashes between political and corporate forces in the last 12 months, was the scene of more titanic stake-building moves.
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ETA triggered a series of explosions across Spain yesterday in a show of force by a faction within the Basque terrorist organisation opposed to a peace deal with the Socialist Government.
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The battle for Spanish energy firm Endesa taken a new twist as fellow Spain company Acciona buys a 10% stake.
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Shares in Iberdrola, Spain's second-biggest energy utility, closed higher Wednesday following a report that its core shareholder ACS and France's EDF are mulling a joint bid for the firm.
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Two years after Spain's worst environmental disaster, the sinking of the oil tanker Prestige, the country is still reeling from the costs to the environment caused by tens of thousands of tonnes of leaked oil.
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A major power outage hit Barcelona on Monday, snarling traffic, hobbling public transportation and knocking out electricity to homes and businesses in much of Spain's second-largest city.
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MADRID/LONDON  - Spain's Iberdrola has bid 11.6 billion pounds ($22.5 billion) in cash and shares for Scottish Power to create Europe's third-biggest utility and a world leader in renewable energy.
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Relations between Spain's government and  its clerics have turned hostile. Socialists swept to power  earlier this year with a pro-gay, feminist agenda and the  church is putting up a fight.
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Vehicles that draw power from the electricity grid offer uneven benefits, a new study finds.
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Political headwinds are likely to batter this oil producer's results.
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Gazprom has spun a web of control over energy supplies extending from Estonia on the Baltic Sea to Bulgaria on the Black Sea.
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Acciona, a Spanish builder, bought 10 percent of Endesa, the countryÂs biggest power company, for 3.4 billion euros ($4.3 billion), throwing a new twist into a takeover battle for Endesa. Acciona said it did not plan to make a takeover bid, but it did not rule out increasing its stake. The 10 percent share matches that of EndesaÂs largest shareholder, Caja Madrid. Endesa is the target of competing takeover bids from E.On of Germany and Gas Natural of Spain. The price Acciona paid for its stake, 32 euros a share, is 26 percent more than E.OnÂs bid, a factor that might force E.On to raise its bid or to withdraw because of the high price, analysts said.
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Authorities in north-western Spain battle against a string of forest fires, as a man dies from burn injuries.
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European nations battled Thursday over whether urgent government intervention is needed to combat a surge in oil prices that France has warned presents a dangerous new threat to economic growth.
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MOSCOW The stakes are high in the much-publicized feud between the Kremlin and the Russian oil giant Yukos - so high that the outcome of that battle will shape how the country&#39;s energy industry grows in 2005 and beyond.
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Spain's rival Socialists and conservatives fought to a virtual tie in local elections Sunday, highlighting the deep divisions in the country a year before national elections.
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Saboteurs are stalling oil transports and causing costly power outages, crippling the country's increasingly unstable energy infrastructure.