Argentina extends biofuel blend rate to avoid gas import increase
Aug, 25, 2022 Posted by Gabriel MalheirosWeek 202234
The Argentine government on Wednesday extended its 12.5% biodiesel blend rate to avoid fuel import increases, having first increased it in June from 5%.
Argentina heavily relies on imports to meet its fuel demand, costing it valuable foreign currency, which is already in low supply and which the government is trying to hold on to amid sky-high inflation in the country.
Argentina is also a major exporter of biodiesel, made using locally produced soybean oil.
“We are convinced that we must bet on biofuels, which allow us to save foreign exchange (reserves). That is why we have decided… to extend the cut,” said Energy Minister Flavia Royon on Twitter.
Royon did not say how long the 12.5% blend rate would be in effect, and the ministry did not respond to a request for comment.
Source: Money Times
To read the full original article, please go to: https://www.moneytimes.com.br/argentina-prorroga-uso-de-mistura-maior-de-biodiesel/
-
Ports and Terminals
Aug, 05, 2020
0
Estaleiro Enseada begins iron ore export operation
-
Ports and Terminals
Oct, 03, 2021
0
Port of Itaqui recertified to ISO 14001
-
Meat
Feb, 23, 2023
0
Mad cow: Brazil halt beef exports to China
-
Ports and Terminals
Sep, 12, 2023
0
TCP adds 17 new terminal tractors, boosts fleet by 33%