Earlier this year, Sinar Mas Group's palm-oil arm entered a US$5.5 billion agreement with Chinese oil giant CNOOC and Hong Kong Energy Ltd to produce biofuel in Indonesia.
Analysis: Big money is being spent in Asia to produce biodiesel for export to western nations. Palm-oil based biodiesel producers have clearly seen the profits generated by crude oil producing nations and decided that they would like a slice of the global energy pie. I just hope the forests don't go under the knife to get B5 blends to the bowser.
- Palm oil production and prices soar on back of biodiesel
- Naza introduces homegrown CNG "hybrids" to Malaysia
- South East Asia expanding biodiesel feedstock production