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PIA Press Release

PNOC-AFC sponsors "Global Biofuels and Feedstocks Market" confab

Manila (24 May) -- The PNOC-Alternative Fuels Corporation (PNOC-AFC), a wholly-owned subsidiary of the Philippine National Oil Company, sponsored the "2007 Biofuels & Feedstocks Philippines." With a theme "Surging Biofuels Production - Prospects for Asian Exports," the "2007 Biofuels & Feedstocks Philippines" brought together the most influential people in the global biofuels industry and discussed the development and growth of biofuels.

"The growth of the global biofuels market has been driven by government incentives and volatile fossil fuel prices. Governments around the world have promoted the use of biofuels in order to reduce air pollution, mitigate climate change and lessen the reliance on imported fossil fuels, as well as to promote their agricultural industry," said PNOC-AFC president and chief executive officer Peter Anthony A. Abaya.

Abaya added in a statement, "Various countries around the world are intensifying efforts to use biofuels. Indonesia is targeting a 10% domestic usage of biofuels by 2010 while the Malaysian government has approved 52 biodiesel licenses, with a cumulative capacity of five million tons. On the other hand, Natural Fuel, a biodiesel manufacturer who is headquartered in Australia, invested $130 million to build the world's largest biodiesel facility in Singapore. Here in the Philippines, the Biofuels Act of 2006 was signed into law on January 12, 2007 and this is the first of its kind in Southeast Asia."

Republic Act 9367 also known as the Biofuels Act of 2006 mandates the blending of 1% locally-sourced biodiesel in all diesel products sold by May 2007 and 5% locally-sourced bioethanol blend in all gasoline products in 2009 and a 10% bioethanol in 2011.

The production of biodiesel in the Philippines is projected to increase by at least 200,000 metric tons (MT) in 2009 with the entry of the PNOC-AFC in the market. The PNOC-AFC favors jatropha oil as its primary feedstock for biodiesel production, with coconut and palm oil as supplements.

"The PNOC-AFC will embark on an integrated biofuel production to ensure sustainable supply of feedstock and lower production cost while providing maximum benefits/returns to the company and the farmers. The company will also serve as a catalyst in biofuels production using cheaper indigenous feedstocks one of which is jatropha, thereby reducing the country's dependence on imported oil while contributing to the economic development in the countryside," ended Abaya.

The highlights of the conference were: Biofuels framework and fiscal incentives in the Philippines; Global biofuels markets - policies, markets, challenges and barriers; Price, supply, economics and quality analysis of various biofuels feedstocks; Biofuels supply chain - blending, storage and handling; Ethanol and its feedstock options and supply; and Round table discussion by oil companies on their strategies in Biofuels.

The 2007 Biofuels & Feedstocks Philippines was organized by Singapore-based Centre for Management Technology, sponsored by PNOC-AFC and supported by the Department of Energy. (PIA-MMIO) [top]

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