|
|
|
@ -0,0 +1,17 @@ |
|
|
|
<br>[Biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) allotment decree was waited for by industry<br> |
|
|
|
<br>Indonesia had planned to introduce higher [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) mix on Jan. 1<br> |
|
|
|
<br>Palm oil [benchmark](https://www.crunchbase.com/organization/mission-newenergy) [agreement increased](https://stocktwits.com/symbol/MNEL) 1% after previous fall<br> |
|
|
|
<br>Government goes for 50% biodiesel mix in 2026<br> |
|
|
|
<br>(Recasts with energy minister's remark)<br> |
|
|
|
<br>By Bernadette Christina and [Fransiska](https://www.pinterest.com.au/missionnewenergy/) Nangoy<br> |
|
|
|
<br>JAKARTA, Jan 3 (Reuters) [- Indonesia](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Energy and Mineral Resources Minister signed a decree on Friday assigning 15.6 million kilolitres (KL) of biodiesel for 2025 circulation, while giving the [industry](https://www.pinterest.com.au/missionnewenergy/) till [completion](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) of next month to adapt to the greater level of the fuel in the mix.<br> |
|
|
|
<br>Indonesia, the world's largest [exporter](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) of palm oil, had planned to launch the necessary [requirement](https://forest500.org/rankings/companies/mission-newenergy-limited) of 40% [palm oil](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) fuel in [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) on Jan. 1, up from 35% now.<br> |
|
|
|
<br>"The ministerial regulation has been signed," the minister Bahlil Lahadalia informed reporters, including the government was working to increase the necessary [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) mix to 50% next year.<br> |
|
|
|
<br>Eniya Listiani Dewi, a ministry senior authorities, stated [biodiesel](https://www.pinterest.com.au/missionnewenergy/) producers and fuel sellers will be provided up until Feb. 28 to adjust to the B40 mix. She said the delay was since of [technical challenges](https://pitchbook.com/profiles/company/51278-86) connected to aids for the fuel.<br> |
|
|
|
<br>The non-implementation on Jan. 1. had actually led to a 2.6% drop in the oil standard contract on Thursday. On Friday, it recovered by around 1%.<br> |
|
|
|
<br>Fuel retailers and biodiesel manufacturers had stated they were not able to prepare contracts for biodiesel circulation without the decree.<br> |
|
|
|
<br>The [biodiesel allowance](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) for 2025 showed an [increase](https://www.zoominfo.com/c/mission-newenergy/346542889) from 2024's approximated biodiesel usage of 12.98 KL, ministry information showed on Friday.<br> |
|
|
|
<br>Of the total allocation for this year, 7.55 million KL is for the public service obligation (PSO), which covers sectors such as mass transit, whose sales will be subsidised by the country's palm [oil fund](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br> |
|
|
|
<br>"The remaining allotments will be cost market price. The non-PSO allowance is set at 8.07 million KL," Bahlil stated, adding the fund might not subsidise the price gap in between the palm oil and fossil fuels for the general allowance.<br> |
|
|
|
<br>BPDPKS, the firm in charge of collecting and [handling](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) the palm oil funds, estimated in November B40 would need a 68% subsidy increase.<br> |
|
|
|
<br>To assist fund that, Indonesia prepares to increase its [export levy](https://www.google.com/search?kgmid=/m/0cqd_rb) for crude palm oil (CPO) to 10% from the current 7.5%, however for that to happen, another official regulation is required. (Reporting by Bernadette Christina Munthe, Fransiska Nangoy, Dewi Kurniawati |
