08 April 2013 22:14 [Source: ICIS news]
CAMPINAS, Brazil (ICIS)--Brazil has adopted new guidelines for stocking biodiesel as a way to reduce costs and improve the logistical efficiency of the fuel, the nation's mines and energy ministry said on Monday.
According to the ministry, the measure has a consumer-focused approach regarding its price, quality and supply.
Under the new rules, producers and importers of diesel derived from oil may buy the fuel to stock it themselves or contract a buying option from sellers.
In the buying option, buyers such as state-run oil company Petrobras contract the right to take at any time biodiesel when it needs it, the ministry said. Sellers such as biodiesel plants are obligated to have a steady supply of biodiesel on hand and to complete the transaction at the agreed price, the ministry said.
"By doing this, we avoid the degradation of the product when [it is] stored for long periods. [It still] eliminates the physical transport from the [biodiesel] plants to Petrobras," the ministry said.
Brazilian petroleum agency ANP will oversee the proceedings to make the new rules permanent in the market.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections