Oil giant to market bio-fuels

PetroVietnam has announced that it will begin to sell bio-fuel E5, an A92 petrol substitute, tomorrow.

The environmentally-friendly E5, a mix of 5 per cent ethanol and 95 per cent lead-free A92, will be available at more than 20 petrol stations in HCM City, Ba Ria-Vung Tau, Hai Duong, Hai Phong, and Ha Noi.

This number is expected to increase to more than 4,000 by 2012.

Initially, E5 will cost VND500 less than A92, or VND15,990 a litre.

Automobile manufacturers like Honda, Toyota and General Motors produce vehicles that run on bio-fuel.

PetroVietnam's move is in line with the Government's plan for bio-fuel development through 2015.

The oil giant is building three ethanol plants in Phu Tho, Quang Ngai and Binh Phuoc provinces at a total cost of US$240 million which are expected to begin operations in 2011.

They will produce 300 million litres a year from dried cassava.

vietnamnews

>   Electronics retailer buys stake in VN company for $4.2m (02/08/2010)

>   High logistics service fees makes Vietnamese enterprises uncompetitive (30/07/2010)

>   Foreign formula prices rise, consumers turn away (30/07/2010)

>   Garment material imports shooting up, why? (30/07/2010)

>   Experts see problems in FDI attraction (30/07/2010)

>   US$40 million for Nhon Trach 2 power plant (30/07/2010)

>   Exporters lack web-based information on markets (30/07/2010)

>   Industrial production rises 13.5% in seven months (30/07/2010)

>   Slow projects to lose funding (30/07/2010)

>   Italian project to boost SMEs (30/07/2010)