From 852099259c403855789a48ec418a14d3f946b4ff Mon Sep 17 00:00:00 2001 From: Haley Akhtar Date: Sat, 18 Jan 2025 07:24:26 +0000 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..300328d --- /dev/null +++ b/Indonesia-Signs-15.6-Mln-Kilolitres-Biodiesel-Allocation-For-2025.md @@ -0,0 +1,17 @@ +
Biodiesel allocation decree was awaited by industry
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Indonesia had actually prepared to [release](https://stocktwits.com/symbol/MNEL) higher [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) mix on Jan. 1
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Palm oil standard contract rose 1% after previous fall
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Government aims for 50% biodiesel mix in 2026
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(Recasts with [energy minister's](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) remark)
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By Bernadette Christina and [Fransiska](https://forest500.org/rankings/companies/mission-newenergy-limited) Nangoy
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JAKARTA, Jan 3 (Reuters) - Indonesia Energy and [Mineral Resources](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Minister signed a decree on Friday assigning 15.6 million [kilolitres](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) (KL) of [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) for 2025 circulation, while [offering](https://www.bloomberg.com/profile/company/MNELF:US) the market until the end of next month to adjust to the greater level of the fuel in the mix.
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Indonesia, the world's largest [exporter](https://www.google.com/search?kgmid=/m/0cqd_rb) of palm oil, had actually planned to introduce the [obligatory requirement](https://www.pinterest.com.au/missionnewenergy/) of 40% palm oil fuel in [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) on Jan. 1, up from 35% now.
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"The ministerial guideline has actually been signed," the minister Bahlil Lahadalia told press reporters, adding the government was working to increase the necessary biodiesel mix to 50% next year.
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Eniya Listiani Dewi, a ministry senior official, stated [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) manufacturers and [fuel merchants](https://stocktwits.com/symbol/MNEL) will be given up until Feb. 28 to adapt to the B40 mix. She stated the delay was because of technical challenges [connected](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to aids for the fuel.
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The non-implementation on Jan. 1. had actually resulted in a 2.6% drop in the Malaysian palm oil standard contract on Thursday. On Friday, it recovered by around 1%.
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Fuel merchants and biodiesel producers had stated they were unable to draw up contracts for [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) circulation without the decree.
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The [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) allotment for 2025 suggested an increase from 2024's estimated biodiesel consumption of 12.98 KL, ministry information revealed on Friday.
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Of the total allowance for this year, 7.55 million KL is for the general public service responsibility (PSO), which [covers sectors](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) such as public transport, whose sales will be subsidised by the country's palm oil fund.
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"The remaining allocations will be cost market price. The non-PSO allowance is set at 8.07 million KL," Bahlil said, adding the fund could not subsidise the cost space between the palm oil and nonrenewable fuel sources for the total allocation.
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BPDPKS, the company in charge of collecting and handling the [palm oil](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) funds, estimated in November B40 would need a 68% subsidy boost.
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To help [finance](https://www.google.com/search?kgmid=/m/0cqd_rb) that, [Indonesia prepares](https://pitchbook.com/profiles/company/51278-86) to increase its [export levy](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) for oil (CPO) to 10% from the current 7.5%, however for that to happen, another main policy is required. (Reporting by Bernadette Christina Munthe, Fransiska Nangoy, Dewi Kurniawati \ No newline at end of file