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Petronas urges EU to rethink palm oil phaseout, flags biofuel affordability

February 28, 2024 Comments Off

Malaysian state-owned oil company Petronas has urged EU lawmakers to adopt a more permissive stance toward palm oil-based biofuels, flagging cost advantages and concerns around a just transition for Asian producers. Speaking at London’s International Energy Week conference Feb. 27, Bahrin Asmawi, Petronas’ downstream strategic planning head, said that blanket bans on palm oil-based feedstocks from Europe risk dampening biofuel…