Last update: 23.12.2008
Indonesia's Pertamina reduces biofuel blend in diesel
Source : reuters.com
Indonesia state oil firm Pertamina has cut the biofuel blend in diesel fuel to 1 percent from 2.5% as rising palm oil prices and lack of incentives have cut margins, a company official said on Tuesday. Since the company introduced Biosolar in May 2006, it has gradually cut its biodiesel content from an initial 5 percent to 2.5% in 2007 for the same reason. The government subsidises biodiesel at the same level as fossil fuels, leaving Pertamina to cover the difference when biodiesel production costs exceed fossil fuel costs. Pertamina has cut the biodiesel blend to 1% since April 11, Djaelani Sutomo, the firm's vice-president of marketing and trading, told Reuters by phone.
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29 April 2008 |
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