Gull to offer E10

A tiny oil company that has pioneered regulatory approvals for bioethanol use in petrol says it plans to market petrol with ethanol at three times the New Zealand government’s biofuel target. Gull New Zealand General Manager Dave Bodger said the company was likely to launch an E10 biofuel blend. Energy Minister David Parker said that the government would require biofuels to make up 3.4% of all transport fuel sales by 2012, starting at 0.2% next year. Oil companies will be allowed to carry over their obligation in the first couple of years, but from 2010 will start facing penalties of NZ$20 million (US$13.90 million) a petajoule for any shortfall in their biofuel content. (February 16, 2007)