14 June 2006 17:40 [Source: ICIS news]
LONDON (ICIS News)--Global ethanol output rose by 10% in 2005 to more than 16.2m tonnes of oil equivalent (toe) due to rising oil prices, environmental concerns and an interest in energy security, BP said on Wednesday.
The energy giant said in its annual statistical review of world energy that European ethanol production for fuel use was 71% higher than in the previous year.
Ethanol production globally, however, remained less than 0.5% of the level of global oil output despite strong growth since 2000. ?xml:namespace>
European ethanol production grew to 454,000 toe last year, the review revealed, with more governments deciding to introduce mandatory fuel blending targets and cutting taxes on ethanol.
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