1.
Bolsa de Madrid
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Bolsa de Madrid is owned by Bolsas y Mercados Españoles. The reorganisation of Spains financial market under the umbrella of the Spanish Stock Market includes the bolsas, the derivatives markets. Trading is linked through the electronic Spanish Stock Market Interconnection System, the IBEX35 Index is a capitalization-weighted index comprising the 35 most liquid Spanish stocks traded in the continuous market, and is Bolsa de Madrids benchmark. Bolsa de Madrid also offers the FTSE-Latibex Index, a European market for Latin American stocks, the Ibex New Market Index, for emerging companies, was offered from 2000 to 2007. Trading on SIBE is conducted from 9 a. m. to 5,30 p. m. open outcry from 10a. m. to 11,30 a. m. both Monday through Friday The Bolsa de Madrid was officially founded in 1831. In 1993, the Bolsa de Madrid switched to all-electronic trading for fixed-income securities. As required by Spanish law, it is managed and operated by the Sociedad Rectora de la Bolsa de Valores de Madrid S. A. a corporation organized under the laws of the Kingdom of Spain. The membership of the Madrid Stock Exchange consists of 41 major financial institutions and 12 established securities dealers, at December 31,2001, approximately 1477 domestic and foreign companies had their equity securities listed on the Madrid Stock Exchange. The total market capitalization of the equity securities listed on the Madrid Stock Exchange in May,2007 was €1,276.26 billion and it is housed in a historic nineteenth-century building, the Palacio de la Bolsa de Madrid. Madrid Stock Exchange General Index Official website
2.
Madrid
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Madrid is the capital city of the Kingdom of Spain and the largest municipality in both the Community of Madrid and Spain as a whole. The city has a population of almost 3.2 million with an area population of approximately 6.5 million. It is the third-largest city in the European Union after London and Berlin, the municipality itself covers an area of 604.3 km2. Madrid lies on the River Manzanares in the centre of both the country and the Community of Madrid, this community is bordered by the communities of Castile and León. As the capital city of Spain, seat of government, and residence of the Spanish monarch, Madrid is also the political, economic, the current mayor is Manuela Carmena from Ahora Madrid. Madrid is home to two football clubs, Real Madrid and Atlético de Madrid. Madrid is the 17th most liveable city in the according to Monocle magazine. Madrid organises fairs such as FITUR, ARCO, SIMO TCI, while Madrid possesses modern infrastructure, it has preserved the look and feel of many of its historic neighbourhoods and streets. Cibeles Palace and Fountain have become one of the monument symbols of the city, the first documented reference of the city originates in Andalusan times as the Arabic مجريط Majrīṭ, which was retained in Medieval Spanish as Magerit. A wider number of theories have been formulated on possible earlier origins, according to legend, Madrid was founded by Ocno Bianor and was named Metragirta or Mantua Carpetana. The most ancient recorded name of the city Magerit comes from the name of a built on the Manzanares River in the 9th century AD. Nevertheless, it is speculated that the origin of the current name of the city comes from the 2nd century BC. The Roman Empire established a settlement on the banks of the Manzanares river, the name of this first village was Matrice. In the 8th century, the Islamic conquest of the Iberian Peninsula saw the changed to Mayrit, from the Arabic term ميرا Mayra. The modern Madrid evolved from the Mozarabic Matrit, which is still in the Madrilenian gentilic, after the disintegration of the Caliphate of Córdoba, Madrid was integrated in the Taifa of Toledo. With the surrender of Toledo to Alfonso VI of León and Castile, the city was conquered by Christians in 1085, Christians replaced Muslims in the occupation of the centre of the city, while Muslims and Jews settled in the suburbs. The city was thriving and was given the title of Villa, since 1188, Madrid won the right to be a city with representation in the courts of Castile. In 1202, King Alfonso VIII of Castile gave Madrid its first charter to regulate the municipal council, which was expanded in 1222 by Ferdinand III of Castile
3.
Spain
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By population, Spain is the sixth largest in Europe and the fifth in the European Union. Spains capital and largest city is Madrid, other urban areas include Barcelona, Valencia, Seville, Bilbao. Modern humans first arrived in the Iberian Peninsula around 35,000 years ago, in the Middle Ages, the area was conquered by Germanic tribes and later by the Moors. Spain is a democracy organised in the form of a government under a constitutional monarchy. It is a power and a major developed country with the worlds fourteenth largest economy by nominal GDP. Jesús Luis Cunchillos argues that the root of the span is the Phoenician word spy. Therefore, i-spn-ya would mean the land where metals are forged, two 15th-century Spanish Jewish scholars, Don Isaac Abravanel and Solomon ibn Verga, gave an explanation now considered folkloric. Both men wrote in two different published works that the first Jews to reach Spain were brought by ship by Phiros who was confederate with the king of Babylon when he laid siege to Jerusalem. This man was a Grecian by birth, but who had given a kingdom in Spain. He became related by marriage to Espan, the nephew of king Heracles, Heracles later renounced his throne in preference for his native Greece, leaving his kingdom to his nephew, Espan, from whom the country of España took its name. Based upon their testimonies, this eponym would have already been in use in Spain by c.350 BCE, Iberia enters written records as a land populated largely by the Iberians, Basques and Celts. Early on its coastal areas were settled by Phoenicians who founded Western Europe´s most ancient cities Cadiz, Phoenician influence expanded as much of the Peninsula was eventually incorporated into the Carthaginian Empire, becoming a major theater of the Punic Wars against the expanding Roman Empire. After an arduous conquest, the peninsula came fully under Roman Rule, during the early Middle Ages it came under Germanic rule but later, much of it was conquered by Moorish invaders from North Africa. In a process took centuries, the small Christian kingdoms in the north gradually regained control of the peninsula. The last Moorish kingdom fell in the same year Columbus reached the Americas, a global empire began which saw Spain become the strongest kingdom in Europe, the leading world power for a century and a half, and the largest overseas empire for three centuries. Continued wars and other problems led to a diminished status. The Napoleonic invasions of Spain led to chaos, triggering independence movements that tore apart most of the empire, eventually democracy was peacefully restored in the form of a parliamentary constitutional monarchy. Spain joined the European Union, experiencing a renaissance and steady economic growth
4.
Gasoline
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Gasoline /ˈɡæsəliːn/, known as petrol /ˈpɛtrəl/ outside North America, is a transparent, petroleum-derived liquid that is used primarily as a fuel in internal combustion engines. It consists mostly of organic compounds obtained by the distillation of petroleum. On average, a 42-gallon barrel of oil yields about 19 US gallons of gasoline when processed in an oil refinery. The characteristic of a gasoline blend to resist igniting too early is measured by its octane rating. Gasoline is produced in several grades of octane rating, sometimes, gasoline also contains ethanol as an alternative fuel, for economic or environmental reasons. Gasoline, as used worldwide in the vast number of combustion engines used in transport and industry, has a significant impact on the environment. Gasoline may also enter the environment uncombusted, as liquid and as vapors, from leakage and handling during production, transport and delivery, from tanks, from spills. As an example of efforts to control leakage, many storage tanks are required to have extensive measures in place to detect. Gasoline contains benzene and other known carcinogens, Gasoline inhalation can produce an intense high, however the practice is thought to cause severe organ damage, including mental retardation. The first automotive combustion engines, so-called Otto engines, were developed in the last quarter of the 19th century in Germany, the fuel was a relatively volatile hydrocarbon obtained from coal gas. With a boiling point near 85 °C, it was suited for early carburetors. The development of a spray nozzle carburetor enabled the use of less volatile fuels, further improvements in engine efficiency were attempted at higher compression ratios, but early attempts were blocked by knocking. In the 1920s, antiknock compounds were introduced by Thomas Midgley Jr. and Boyd and this innovation started a cycle of improvements in fuel efficiency that coincided with the large-scale development of oil refining to provide more products in the boiling range of gasoline. In the 1950s oil refineries started to focus on high octane fuels, the 1970s witnessed greater attention to the environmental consequences of burning gasoline. These considerations led to the out of TEL and its replacement by other antiknock compounds. Subsequently, low-sulfur gasoline was introduced, in part to preserve the catalysts in modern exhaust systems, Gasoline is the term that is used in North America to refer to the most popular automobile fuel. The Oxford English Dictionary dates the first use to 1863, when it was spelled gasolene and it was never a trademark, although it may have been derived from older trademarks such as Cazeline and Gazeline. Variant spellings of gasoline had been used to refer to raw petroleum since the 16th century, Petrol is the preferred term in most Commonwealth countries
5.
Natural gas
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It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure under the surface of the Earth over millions of years. The energy that the plants originally obtained from the sun is stored in the form of bonds in the gas. Natural gas is a fuel used as a source of energy for heating, cooking. It is also used as fuel for vehicles and as a feedstock in the manufacture of plastics. Natural gas is found in underground rock formations or associated with other hydrocarbon reservoirs in coal beds. Petroleum is another resource and fossil fuel found in proximity to. Most natural gas was created over time by two mechanisms, biogenic and thermogenic, biogenic gas is created by methanogenic organisms in marshes, bogs, landfills, and shallow sediments. Deeper in the earth, at temperature and pressure, thermogenic gas is created from buried organic material. In petroleum production gas is burnt as flare gas. The World Bank estimates that over 150 cubic kilometers of gas are flared or vented annually. Before natural gas can be used as a fuel, most, Natural gas is often informally referred to simply as gas, especially when compared to other energy sources such as oil or coal. However, it is not to be confused with gasoline, especially in North America, Natural gas was used by the Chinese in about 500 BCE. They discovered a way to transport gas seeping from the ground in crude pipelines of bamboo to where it was used to salt water to extract the salt. The worlds first industrial extraction of gas started at Fredonia, New York. By 2009,66000 km³ had been used out of the total 850000 km³ of estimated remaining reserves of natural gas. An annual increase in usage of 2–3% could result in currently recoverable reserves lasting significantly less, unwanted natural gas was a disposal problem in the active oil fields. If there was not a market for natural gas near the wellhead it was expensive to pipe to the end user. In the 19th century and early 20th century, unwanted gas was burned off at oil fields
6.
Oil refinery
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Oil refineries are typically large, sprawling industrial complexes with extensive piping running throughout, carrying streams of fluids between large chemical processing units. In many ways, oil refineries use much of the technology of, the crude oil feedstock has typically been processed by an oil production plant. There is usually an oil depot at or near an oil refinery for the storage of incoming crude oil feedstock as well as bulk liquid products, an oil refinery is considered an essential part of the downstream side of the petroleum industry. The lighter elements, however, form explosive vapors in the tanks and are therefore hazardous. Petroleum fossil fuels are burned in internal combustion engines to power for ships, automobiles, aircraft engines, lawn mowers, dirt bikes. Different boiling points allow the hydrocarbons to be separated by distillation, Oil can be used in a variety of ways because it contains hydrocarbons of varying molecular masses, forms and lengths such as paraffins, aromatics, naphthenes, alkenes, dienes, and alkynes. Once separated and purified of any contaminants and impurities, the fuel or lubricant can be sold without further processing, smaller molecules such as isobutane and propylene or butylenes can be recombined to meet specific octane requirements by processes such as alkylation, or more commonly, dimerization. The octane grade of gasoline can also be improved by catalytic reforming, the final step in gasoline production is the blending of fuels with different octane ratings, vapor pressures, and other properties to meet product specifications. Another method for reprocessing and upgrading these intermediate products uses a process to separate usable oil from the waste asphaltene material. Oil refineries are large plants, processing about a hundred thousand to several hundred thousand barrels of crude oil a day. Because of the capacity, many of the units operate continuously, as opposed to processing in batches. The high capacity also makes process optimization and advanced process control very desirable, petroleum products are usually grouped into four categories, light distillates, middle distillates, heavy distillates and residuum. This classification is based on the way crude oil is distilled and separated into fractions as in the above drawing and these are not usually transported but instead are blended or processed further on-site. Chemical plants are often adjacent to oil refineries or a number of further chemical processes are integrated into it. For example, light hydrocarbons are steam-cracked in a plant. Using the Claus process, hydrogen sulfide is afterwards transformed to elementary sulfur to be sold to the chemical industry, the rather large heat energy freed by this process is directly used in the other parts of the refinery. Often an electrical plant is combined into the whole refinery process to take up the excess heat. Desalter unit washes out salt from the oil before it enters the atmospheric distillation unit
7.
Filling station
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A filling station is a facility that sells fuel and engine lubricants for motor vehicles. The most common fuels sold in the 2010s are gasoline and diesel fuel, Fuel dispensers are also known as bowsers, petrol pumps or gas pumps. Also, many filling stations incorporate a convenience store, which like most other buildings generally have electricity sockets, the convenience stores found in filling stations typically sell candy, soda/pop, snacks and, in some cases, a small selection of grocery items. Some also sell propane or butane and have added shops to their primary business, conversely, some chain stores, such as supermarkets, discount superstores, warehouse clubs, or traditional convenience stores, have provided filling stations on the premises. The term gas station is used in the United States, Canada and the English-speaking Caribbean. In some regions of Canada, the term gas bar is used, elsewhere in the English-speaking world, mainly in the Commonwealth, the fuel is known as petrol, and the term petrol station or petrol pump is used. In the United Kingdom and South Africa garage is still commonly used, similarly, in Australia, the term service station describes any petrol station. In Japanese English, it is called a gasoline stand, in Indian English, it is called a petrol pump or a petrol bunk. In some regions of America and Australia, many filling stations have a mechanic on duty, latest figures show there are now 8,455 petrol stations in the UK down from about 18,000 in 1992 and a peak of around 40,000 in the mid-1960s. The USA had 114,474 filling stations in 2012, according to the U. S. Census Bureau, in Canada, the number is on the decline. As of December 2008,12,684 were in operation, significantly down from about 20,000 stations recorded in 1989 In Japan, in Germany, the number dropped down to 14,300 in 2011. In China, according to different reports, the number is about 95,000 to 97,000. India –43,000 Russia - there were about 25,000 gas stations in the Russian Federation In Argentina, as of 2014, the first places that sold gasoline were pharmacies, as a side business. The first filling station was the city pharmacy in Wiesloch, Germany, since 2008 the Bertha Benz Memorial Route commemorates this event. The increase in automobile ownership after Henry Ford started to sell automobiles that the class could afford resulted in an increased demand for filling stations. The worlds first purpose built gas station was constructed in St. Louis, the second gas station was constructed in 1907 by Standard Oil of California in Seattle, Washington at what is now Pier 32. Reighards Gas Station in Altoona, Pennsylvania claims that it dates from 1909 and is the oldest existing gas station in the United States, early on, they were known to motorists as filling stations. The first drive-in filling station, Gulf Refining Company, opened to the public in Pittsburgh on December 1,1913 at Baum Blvd & St Clairs Street
8.
Electricity generation
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Electricity generation is the process of generating electric power from sources of primary energy. For electric utilities, it is the first process in the delivery of electricity to consumers, the other processes as transmission, distribution, energy storage and recovery using pumped-storage methods are normally carried out by the electric power industry. Other energy sources include solar photovoltaics and geothermal power, the fundamental principles of electricity generation were discovered during the 1820s and early 1830s by the British scientist Michael Faraday. This method is used today, electricity is generated by the movement of a loop of wire. Central power stations became practical with the development of alternating current power transmission, using power transformers to transmit power at high voltage. Electricity has been generated at central stations since 1882, the use of power-lines and power-poles have been significantly important in the distribution of electricity. There are seven fundamental methods of transforming other forms of energy into electrical energy. Static electricity, form the physical separation and transport of charge and it was the first form discovered and investigated, and the electrostatic generator is still used even in modern devices such as the Van de Graaff generator and MHD generators. In Electromagnetic induction, a generator, dynamo or alternator transforms kinetic energy into electricity. This is the most used form for generating electricity and is based on Faradays law and it can be experimented by rotating a magnet within closed loops of a conducting material. Almost all commercial electrical generation is done using electromagnetic induction, in mechanical energy forces a generator to rotate. Almost all electrical power on Earth is generated with a turbine, driven by wind, water, there are many different methods of developing mechanical energy, including heat engines, hydro, wind and tidal power. Most electric generation is driven by heat engines, the combustion of fossil fuels supplies most of the heat to these engines, with a significant fraction from nuclear fission and some from renewable sources. The modern steam turbine currently generates about 80% of the power in the world using a variety of heat sources. Power sources include, Steam Water is boiled by coal burned in a power plant. Nuclear fission heat created in a nuclear reactor creates steam, less than 15% of electricity is generated this way. Natural gas, turbines are directly by gases produced by combustion. Combined cycle are driven by steam and natural gas
9.
YPF
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YPF was privatized in 1993 and bought by the Spanish firm Repsol S. A. in 1999, the resulting merger produced Repsol YPF. The renationalization of 51% of the firm was initiated in 2012 by President Cristina Fernández de Kirchner, the government of Argentina eventually agreed to pay $5 billion compensation to Repsol. The company, specializing in the exploration, production, refining and commercialization of petroleum, had its origin in 1907, following World War I, oil had become an important resource, leading to struggles between rival powers to gain control of it. YPF was created by President Hipólito Yrigoyen and General Enrique Mosconi on 3 June 1922 and it was the first entirely state-run oil company in the world, the second being the French Compagnie française des pétroles, created in 1924 by the conservative Prime Minister Raymond Poincaré. YPFs creation was followed by the creation of ANCAP in Uruguay, YPFB in Bolivia, Pemex in Mexico, ENAP in Chile, Mosconi served as YPFs first director. Contracts signed in 1923 with Bethlehem Steel allowed YPF to begin the production of gasoline and kerosene, corvalán, allied with the Standard Oil of New Jersey, rejected Mosconis proposal, however, referring to the concept of provincial autonomy. This refusal led Mosconi to evolve in favor of the nationalization of oil supplies in order to strengthen Argentinas independence, the first YPF oil refinery was inaugurated in December 1925 in Ensenada, and was at the time the tenth largest in the world. The Chamber of Deputies approved a law on 28 September 1928, the monopoly, however, was not absolute, being limited to oil exploration, exploitation and transport, but excluding selling and imports. Private firms opposed themselves to the law project, refusing to pay a 10% royalty, the bill was supported by President Marcelo Torcuato de Alvear but was ultimately blocked by the conservatives in the Senate. Mosconi also reduced the price of kerosene and agrochemicals to contribute to the development of the regions of Argentina. A partnership with distributor Auger & Co. signed in 1925 resulted in a network of over 700 filling stations selling 178 million liters by 1930 – an 18% market share, company revenues in 1930 reached US$25 million. The Petroleum Institute was created on 30 December 1929, and directed by Ricardo Rojas, the coup was lobbied for chiefly by Standard Oil, whose interests in Salta Province and neighboring Bolivia conflicted with those of YPF. Oil production by YPF continued to grow, and soon eclipsed private production, from just over 5 million barrels in 1934, the development of the nations sizable natural gas resources also originated largely from YPF. The nations first gas compressor and what at the time was the worlds longest gas pipeline were completed by 1949, Oil production at YPF surpassed 25 million barrels by 1955. The nations oil supply thus shifted from 60% domestic in 1945, Oil imports by 1955 rose to US$300 million, or over one fourth of total merchandise imports. Perón had made economic nationalism a policy centerpiece, YPF was granted an exemption from steep oil import tariffs levied on private firms, and Article 40 of the Constitution of 1949 stipulated the nationalization of all energy and mineral resources. The deteriorating oil deficit led Perón to court foreign investment in the sector as early as 1947, however, total exploration doubled, and significant reserves in Salta Province were developed. A more controversial joint venture with Standard Oil of California was signed in 1955 for the production of up to 56 million barrels a year
10.
Petrobras
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Petróleo Brasileiro S. A. — Petrobras, more commonly known as simply Petrobras, is a semi-public Brazilian multinational corporation in the petroleum industry headquartered in Rio de Janeiro, Brazil. The companys name translates to Brazilian Petroleum Corporation — Petrobras, the company was ranked #58 in the most recent Fortune Global 500 list. A. However, Brazil represented 92% of Petrobras worldwide production in 2014 and accounted for 97% of Petrobras worldwide reserves on 31 December 2014. As of 31 December 2014, the company had 8,112.8 million barrels of oil equivalent of proved developed reserves and 4,599.7 million barrels of oil equivalent of proved undeveloped reserves in Brazil. Of these reserves,62. 7% were located in the offshore Campos Basin, the largest growth prospect for the company is the Lula oil field in the Santos Basin. In 2015, the company produced 2.284 million barrels of oil equivalent per day, of which 89% was petroleum, reserves held outside of Brazil accounted for 8. 4% of production in 2014. The majority of reserves are in South America, the company has assets in Argentina, Bolivia, Chile, Colombia, Venezuela, Paraguay. Petrobras owns refineries in Texas, Okinawa, Japan, and Bahía Blanca, the company also owns exploration blocks in the Gulf of Mexico and through joint ventures has production in Nigeria, Benin, Gabon, and Namibia. The privately held shares are traded on BM&F Bovespa, where they are part of the Ibovespa index, Petrobras is a major supporter of the arts in Brazil. Petrobras was created in 1953 under the government of Brazilian president Getúlio Vargas with the slogan The Oil is Ours and was given a monopoly in Brazil. In 1953, Brazil only produced 2,700 barrels of oil per day, in 1967, the company established a Petrobras Quimica S. A, subsidiary focused on petrochemicals and the conversion of naphtha into ethene. Petrobras began processing oil shale in 1953, developing Petrosix technology for extracting oil from oil shale, an industrial-size retort began processing shale in the 1990s. In 2006, Petrobras claimed that this industrial retort had a capacity to process 260 tonnes/hour of oil shale. In 1994, Petrobras placed into service Petrobras 36, the worlds largest oil platform, the platform sank after an explosion in 2001 and was a complete loss. In 1997, the government approved Law N.9.478, in 1999, the National Petroleum Agency signed agreements with other companies, officially ending the companys monopoly. In 2000, Petrobras achieved a record for oil exploration in deep waters. In 2002, Petrobras acquired the Argentine company Perez Companc Energía from the Perez Companc family and its foundation and this acquisition included assets in Argentina, Brazil, Venezuela, Bolivia, Peru, and Ecuador. The company had 1.1 billion barrels of oil reserves
11.
Canary Islands
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The Canary Islands, also known as the Canaries, are an archipelago and autonomous community of Spain located on the Atlantic Ocean,100 kilometres west of Morocco. The Canaries are among the outermost regions of the European Union proper and it is also one of the eight regions with special consideration of historical nationality recognized as such by the Spanish Government. The main islands are Tenerife, Fuerteventura, Gran Canaria, Lanzarote, La Palma, La Gomera, the archipelago also includes a number of islands and islets, La Graciosa, Alegranza, Isla de Lobos, Montaña Clara, Roque del Oeste and Roque del Este. In ancient times, the chain was often referred to as the Fortunate Isles. The Canary Islands is the most southerly region of Spain and the largest and most populated archipelago of the Macaronesia region, the islands have a subtropical climate, with long hot summers and moderately warm winters. The precipitation levels and the level of maritime moderation varies depending on location and elevation, green areas as well as desert exist on the archipelago. Due to their location above the inversion layer, the high mountains of these islands are ideal for astronomical observation. For this reason, two professional observatories, Teide Observatory on the island of Tenerife and Roque de los Muchachos Observatory on the island of La Palma, have built on the islands. Las Palmas de Gran Canaria has been the largest city in the Canaries since 1768, between the 1833 territorial division of Spain and 1927 Santa Cruz de Tenerife was the sole capital of the Canary Islands. In 1927 a decree ordered that the capital of the Canary Islands be shared, the third largest city of the Canary Islands is San Cristóbal de La Laguna on Tenerife. This city is home to the Consejo Consultivo de Canarias. During the time of the Spanish Empire, the Canaries were the main stopover for Spanish galleons on their way to the Americas, who came south to catch the prevailing northeasterly trade winds. The name Islas Canarias is likely derived from the Latin name Canariae Insulae, meaning Islands of the Dogs, according to the historian Pliny the Elder, the Mauretanian king Juba II named the island Canaria because it contained vast multitudes of dogs of very large size. Another speculation is that the dogs were actually a species of monk seal, critically endangered. The dense population of seals may have been the characteristic that most struck the few ancient Romans who established contact with these islands by sea. Alternatively, it is said that the inhabitants of the island, Guanches, used to worship dogs, mummified them. The ancient Greeks also knew about a people, living far to the west, who are the dog-headed ones, who worshipped dogs on an island. Some hypothesize that the Canary Islands dog-worship and the ancient Egyptian cult of the god, Anubis are closely connected
12.
Fuerteventura
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Fuerteventura is one of the Canary Islands, in the Atlantic Ocean off the coast of Africa, politically part of Spain. At 1,660 square kilometres, it is the second largest of the Canary Islands and it was declared a biosphere reserve by UNESCO in May 2009. Its capital is Puerto del Rosario, first settlers are believed to have hailed from North Africa. The word Mahorero or Maho is still used today to describe the people of Fuerteventura and is derived from the ancient word mahos and they lived in caves and semi-subterranean dwellings, some of which have been excavated, revealing remnants of early tools and pottery. In antiquity, the island was known o. a. as Planaria, in the 11th century BC, Phoenician settlers landed in Fuerteventura and Lanzarote. Several Spanish and Portuguese expeditions to the islands were organized around 1340, followed by Moors, at the end of the Iberian conquest, the island was divided into two Guanches kingdoms, one adhering to King Guize and the other to King Ayoze. The territories of these kingdoms were called Maxorata and Jandía respectively and they were separated by a wall, which traversed the La Pared isthmus. The ancient name for the island, Erbania, is derived from to this walls name, the islands conquest began in earnest in 1402, commanded by Jean de Béthencourt and Gadifer de la Salle. They arrived with only 63 sailors out of the original 283, after arriving and settling in Lanzarote, the invaders made some first excursions to the neighboring islands. In 1404, Bethencourt and Gadifer founded Betancuria, on the West coast, after numerous difficulties, Gadifer took charge of the invasion, while Bethencourt returned to Spain to seek the recognition and support of the Castilian king. In 1405, de Béthencourt completed his conquest of the island and it is generally accepted that the island took its name from fuerte and ventura, as mentioned by mallorcan navigator Angelino Dulcert in 1339. In 1424 Pope Martin V, through the Betancuria Brief, edicted the establishment of the Bishopric of Fuerteventura, the Bishopric of Fuerteventura was based in the Parish of Santa María de Betancuria, bestowing upon the latter the status of Grant Cathedral. After the reabsorbtion of the Diocese of San Marcial del Rubicón by the papacy of Pope of Martin V, the first census recorded a population of some 1,200 inhabitants. In 1476 the territory became the Señorío Territorial de Fuerteventura, subjected to the Catholic Monarchs, in later years, the island was invaded by the Spanish, French and the English. Over time, the island endured numerous pirate raids, a Berber lead expedition invaded in 1593, sweeping as far inland as the capital. Various castles were built along the coastline, to protect against these type of attacks, the population was moved inland as a second protective measure. Because of the raids, a first Captain General was dispatched to Fuerteventura, accompanied by a number of Sergeant Majors, at that time Betancuria became the religious capital of the island. Two major pirate attacks took place in 1740, within a month of each other, two separate bands of English privateers attempted to loot the town of Tuineje
€37.433 billion (2016)
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