OPERATIONS

Refiners agree to boost ethanol uptake

OIL refining companies and the Australian Government yesterday agreed to work together to increase the country’s annual usage of ethanol to at least 350 million litres by 2010.

Refiners agree to boost ethanol uptake

The four oil companies - BP/Amoco, Mobil, Shell and Caltex/Ampol - met with prime minister John Howard in Sydney. They will now prepare a separate action plan to present to the government detailing their contribution towards reaching the target.

After describing the agreement as a “breakthrough,” Howard added it was crucial consumer confidence was restored in biofuels.

The meeting was announced last week following the release of the government's biofuels taskforce report.

Another media report suggested biofuels would contribute to less than 1% of Australia’s total fuel supply if the target were reached.

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