September 27, 2007 (Inquirer) – PNOC Alternative Fuels Corp., a subsidiary of Philippine National Oil Co., has entered into an agreement with Royal Green Energy Development Inc. for the purchase of jatropha crude oil to be produced from the latter’s jatropha plantation. Under the deal, PNOC-AFC will buy jatropha crude oil from Royal Green at a discounted price, either for its own use or for sale to other parties.
The pricing will be covered by a separate agreement between the two parties.
PNOC-AFC will also provide technical support to Royal Green, “when applicable and necessary.”
According to PNOC-AFC, such off-take agreements will help encourage jatropha biodiesel production, ensure market demand and promote the development and use of alternative fuels.
Royal Green is a local firm engaged in the application of technology to propagate high-yielding jatropha special varieties to supply seedling requirements.
“PNOC-AFC and Royal Green are vital partners in the jatropha project,” PNOC-AFC president and chief executive Peter Anthony Abaya said. “Royal Green has significant research and technological know-how crucial to PNOC-AFC’s desire and mandate to bring the country towards energy independence.”