China pact to develop biodiesel – Malaysia Star

From The Star Online:

China’s third largest oil company China National Offshore Oil Corp (CNOOC) yesterday inked a memorandum of understanding (MoU) with a Malaysian firm to develop palm oil-based biodiesel in a shift towards sources.

The pact was signed between its subsidiary, Oil Base Group Ltd, with Bio Sweet Sdn Bhd, which specialises in biotech and palm diesel research and development.

Under the MoU, CNOOC will build a plant in Hainan Island in 12 months with a capacity of 120,000 tonnes. [Full Text]

For a critical view of palm-oil as an alternative to fossil fuels, see George Monbiot’s editorial in the Guardian from December of last year.

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July 24, 2006, 8:40 PM
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Categories: Economy, Environment