The Philippine government passed a Biofuels Act in 2006, requiring ethanol-blended gasoline to make up at least 10% of the total gasoline sold worldwide by February 2012.

Platts, a global provider of energy and metal information and source of benchmark price assessments in the physical energy markets, has today launched the world’s first daily price assessments, capturing the value of ethanol delivered to the Philippines.

“The Philippines, like many governments around the world, is in the midst of implementing guidelines and proposals for reducing the use of fossil fuels, in favor of greener, more renewable fuels, such as E-10,” said Ihsan Rahim, managing editor of petrochemicals, Asia, for Platts.

“We believe these new assessments, which reflect a key biofuels trading hub and prices for one of the largest ethanol consumers in the Asia-Pacific region, will help bring greater transparency not only to the Philippine ethanol market, but to the developing ethanol market at large,” said Rahim.

Platts says that the four new prices will reflect trends in the market, with focus on the production of ‘green’ gasoline blends.

So-called green gasoline is blended with undenatured andhrous ethanol.

The assessments will be published daily, and will cover:

•    Three spot market price assessments of undenatured ethanol as delivered to Manila, Subic Bay and Batangas
•    Spot market price assessment of undenatured ethanol in Singapore loaded cargoes

Platt’s says that assessments are covered in the Phillippines Biofuels Act of 2006.

According to Platts, the Philippines imports 160,000 to 200,000 cubic metres of ethanol per year, with imports projected to double over the next few years, as the Biofuels Act comes closer to full implementation.

Share This

• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 

About the author

Maddison Kennedy

Related Posts

Marriott Announces Its First Hotel in Sri Lanka

Hong Kong, China -- Marriott International has signed an agreement with Weligama Hotel Properties, a fully owned subsidiary of East West Properties, to open a hotel in Sri Lanka, the Weligama Bay Marriott Resort & Spa 2014...

Asian Investors Prefer Investments Close to Home

New York, U.S.A. -- Asian institutional investors planning to increase investments in non-Asian companies express a preference for the equities of companies that draw revenue from Asia or have a secondary equity listing on a local...

Technology in Uganda: On the Rise and Saving Lives

When many think of the continent of Africa, words such as famine, disease, poverty, short life spans and little to no healthcare and poor technological advancement come to mind. However, as of recently, Africa, and Uganda...