Draft implementing rules released

The Philippines National Biofuels Board and industry stakeholders are on track in formulating the implementing rules and regulations (IRR) of the Biofuels Law, an energy official said. A draft of the IRR was released on April 27. Mario Marasigan, head of the Energy Utilization and Management Bureau of the Department of Energy, said the board would finalize the implementing rules to ensure a smooth transition of the law. The Biofuels Law of 2006 mandates a 5% ethanol blend for gasoline and 1% coconut methyl ester blend for diesel fuel. Oil players like Petron Corp., the country’s biggest oil company in terms of market share, has already allocated about Php100 million (US$2.09 million) to comply with the new law. (April 13, 2007)