CHONBURI, 30 May 2019 (NNT) -The Minister of Energy has officiated at the first public sale of PTT UltraForce Diesel B10 in Thailand, in keeping with the ministry’s policy to promote biodiesel B10 as the country’s main diesel fuel.
The Minister of Energy Siri Jirapongphan, presided today at the Eastern Seaboard Industrial Estate in Si Racha district, Chonburi province, over a ceremony to launch PTT’s UltraForce Diesel B10, the first biodiesel B10 fuel to go on sale in Thailand. He was joined by PTT Oil and Retail Chief Executive, Jiraporn Khaosawas.
The Energy Minister said the Ministry of Energy is planning to promote biodiesel B10 as the main type of diesel fuel in Thailand, replacing the current biodiesel B7 type by 2021. The Ministry of Finance is offering 1 baht per liter excise tax discount for biodiesel B10, from the rate applicable to other automotive diesel products. The ministry is anticipating that the introduction of the new biodiesel B10 will raise palm oil consumption to 2 million tons annually from the current figure at 1.5 million, complying with the national palm oil strategy.
He said the Ministry of Energy is positive the quality standard of biodiesel B10, the preparedness of PTT’s petrol stations, and the preparations of vehicle building companies that have already certified 944 models of 12 different brands to be B10 compatible, will help raise confidence among customers.
PTT Oil and Retail Company Limited (PTTOR) Chief Executive, Miss Jiraporn Khaosawas said today the company is ready to sell PTT UltraForce Diesel B10 products at PTT stations starting today, and will continue to roll out the product starting in eastern and southern regions. The company will be working with the Ministry of Energy to promote biodiesel B10 use, to become the main type of biodiesel fuel in the country.
She said the company believes the quality of the product, which has received certifications from the Ministry of Energy and car manufacturers, won’t cause any ill effect to the engines. PTT UltraForce Diesel B10 is also enhanced with certain boosting properties helping improve engine performance, and can be completely combusted, resulting in 42 percent less black exhaust smoke. The new oil product is sold 1 baht cheaper than conventional automotive diesel, which will help reduce costs among vehicle owners. The manufacturing of this fuel using crude palm oil will directly
help palm farmers in Thailand as well.
For more Rubber and Crude Palm Oil reports that includes twice daily prices & other news reports, you can purchase the subscription here.
Founder of i2Matrix. A market strategist, private trader and sought-after financial speaker and trainer in the Asian Region, Benny Lee has coached hundreds of professional and retails traders and investors in Malaysia, Singapore, Hong Kong, Thailand, Vietnam, Pakistan for more than 13 years. His passion in trading and chart analysis leads him to develop trading strategies that have helped him and many others to trade and invest successfully in the financial markets.
Benny Lee is recognized by the Malaysian and Singapore Stock Exchange as a Credible Trainer. He has also trained professionals in Malaysia under Securities Commission’s Continuous Professional Education (CPE) Program. He is also a market strategist Jupiter Securities Sdn Bhd, a Malaysian stock-broking firm.
Benny has been invited to share his expert opinion in major commodities and financial events in Malaysia, Singapore, India, Indonesia, Vietnam, Thailand, and Romania. His analysis on the financial markets can also be found on a regular basis in leading financial magazines like Smart Investor, Shares Investment Magazine and The Edge Daily in Malaysia, and Pulses Magazine in Singapore. He has also appeared on TV Financial Programs such as Capital TV (Malaysia), Channel News Asia (Singapore) and Sunbiz (Pakistan) to share his views about the markets and technical analysis.
Today, you can find his market comments regularly on The Financial Edge Daily (Wednesdays), Interview on BFM89.9 (www.bfm.my) business radio station on Mondays at 9.00 am, The Busy Weekly, a Chinese business weekly and Palm Oil Fortune (A monthly magazine by the Malaysian Palm Oil Council, MPOC). His views are also regularly quoted on Bloomberg.
For more information, you can visit them at http://www.i2matrix.com