Biofuel production level to increase by 5% this year

Biodiesel producers face a January 21 deadline to submit their applications for this year’s biodiesel allotments, which, based on an Environment, Energy & Climate Change Ministry decision, will increase by an overall 5.2 percent, year-on-year, to 140,000 kiloliters from 133,000 kiloliters.

Each year, an overall biodiesel amount is determined and biodiesel producers then negotiate for their share after having submitted applications.

The decision to increase this year’s biofuel production level by 5.2 percent comes as as yet another sign of the anticipated growth in overall fuel consumption. Based on sector regulations, refineries must use a percentage of biodiesel that reflects the total amount of fuel they supply to the market.

A total of twenty biofuel producers took part in last year’s allotment, the biggest participants being Argoinvest, Pavlos Pettas, GF Energy, and ELIN Biofuels. Other contributors included ELPE (Hellenic Petroleum), REVOIL Biofuels, AVIN, and Motor Oil.