From 303b0d63a9cc16e9a547aacdcbe2c6f25c208579 Mon Sep 17 00:00:00 2001 From: Senaida Luster Date: Tue, 14 Jan 2025 02:27:37 +0800 Subject: [PATCH] Add 'Indonesia Signs 15.6 Mln Kilolitres Biodiesel Allocation For 2025' --- ...-Kilolitres-Biodiesel-Allocation-For-2025.md | 17 +++++++++++++++++ 1 file changed, 17 insertions(+) create mode 100644 Indonesia-Signs-15.6-Mln-Kilolitres-Biodiesel-Allocation-For-2025.md diff --git a/Indonesia-Signs-15.6-Mln-Kilolitres-Biodiesel-Allocation-For-2025.md b/Indonesia-Signs-15.6-Mln-Kilolitres-Biodiesel-Allocation-For-2025.md new file mode 100644 index 0000000..e84a4d7 --- /dev/null +++ b/Indonesia-Signs-15.6-Mln-Kilolitres-Biodiesel-Allocation-For-2025.md @@ -0,0 +1,17 @@ +
[Biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) allotment decree was waited for by market
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Indonesia had actually prepared to launch greater [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) mix on Jan. 1
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Palm oil standard [agreement increased](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) 1% after previous fall
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Government goes for 50% biodiesel mix in 2026
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(Recasts with energy minister's comment)
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By Bernadette Christina and Fransiska Nangoy
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JAKARTA, Jan 3 (Reuters) - Indonesia Energy and Mineral Resources Minister signed a decree on Friday allocating 15.6 million kilolitres (KL) of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) for 2025 distribution, while offering the industry up until completion of next month to adjust to the higher level of the fuel in the mix.
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Indonesia, the world's biggest exporter of palm oil, had planned to launch the obligatory requirement of 40% palm oil fuel in [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) on Jan. 1, up from 35% now.
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"The ministerial policy has been signed," the minister Bahlil Lahadalia informed reporters, including the government was working to increase the necessary biodiesel mix to 50% next year.
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Eniya Listiani Dewi, a ministry senior authorities, said [biodiesel manufacturers](https://www.google.com/search?kgmid=/m/0cqd_rb) and [fuel retailers](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) will be provided till Feb. 28 to adapt to the B40 mix. She stated the delay was because of [technical challenges](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [connected](https://www.crunchbase.com/organization/mission-newenergy) to aids for the fuel.
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The non-implementation on Jan. 1. had actually led to a 2.6% drop in the Malaysian palm oil standard [agreement](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) on Thursday. On Friday, it recuperated by around 1%.
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Fuel retailers and [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) had said they were unable to draw up contracts for biodiesel circulation without the decree.
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The biodiesel allocation for 2025 suggested an [increase](https://pitchbook.com/profiles/company/51278-86) from 2024's estimated [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) intake of 12.98 KL, ministry data revealed on Friday.
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Of the overall allotment for this year, 7.55 million KL is for the general public service commitment (PSO), which [covers sectors](https://stocktwits.com/symbol/MNEL) such as public transport, whose sales will be subsidised by the nation's palm oil fund.
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"The staying allocations will be cost market rate. The non-PSO allotment is set at 8.07 million KL," Bahlil stated, adding the fund might not [subsidise](https://forest500.org/rankings/companies/mission-newenergy-limited) the [rate space](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) between the palm oil and nonrenewable [fuel sources](https://www.google.com/search?kgmid=/m/0cqd_rb) for the general [allocation](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).
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BPDPKS, the firm in charge of [gathering](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) and managing the palm oil funds, [approximated](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in November B40 would need a 68% aid increase.
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To help finance that, Indonesia plans to increase its export levy for unrefined palm oil (CPO) to 10% from the existing 7.5%, but for that to happen, another official policy is required. (Reporting by Bernadette Christina Munthe, Fransiska Nangoy, Dewi Kurniawati \ No newline at end of file