European Union ambassadors agreed on Thursday to withdraw an appeal to the European Court of Justice meaning the bloc will have to accept its verdict annulling anti-dumping duties imposed on imports of biodiesel from Argentina and Indonesia.
Jets in Europe will soon run on eco-fuel produced from vegetable oil and animal fat. The new fuel will be mixed with traditional kerosene. According to latest reports, planes running on the mixture of renewable and traditional fuel will start flying next year from Geneva in Switzerland.
Brazil's oil company Petrobras has agreed to sell its 49% stake in the sugar and ethanol joint venture Nova Fronteira Bioenergia SA to partner São Martinho SA, both companies said in securities filings on Thursday. Petrobras will receive 24 million new São Martinho shares as payment for the stake. Petrobras said in the filing that it will attribute a US$133 million value to the deal.
China is far from normalizing soy-oil purchases in Argentina since it has not placed new orders according to the Argentina Cooking Oil Industry Chamber, CIARA. However the industry has managed to diversify markets.
The United States Navy celebrated Earth Day April 22 by showcasing a flight test of the “Green Hornet,” an F/A-18 Super Hornet multi-role fighter jet powered by a 50/50 blend of conventional jet fuel and camelina aviation bio-fuel.