BBGI jumps 5% after broker lifts target on Q2 profit beat from SAF business

The Federation of Thai Industries, or FTI, has proposed to the Minister of Energy, Ekkanat Promphan, that ethanol be elevated from merely a blending component in fuel to a national strategic fuel, in order to cope with volatility in global energy prices, build energy security, and reduce oil imports. Mongkol Hengrojanasophon, chairman of the FTI's Energy Institute for Industry, said the proposal has three main approaches. The first is to set a long-term direction for gasohol E20 as the primary gasoline fuel for vehicles that can support it, starting with price mechanisms to incentivize consumers before developing cost structures across the entire supply chain to be competitive and reduce reliance on subsidy measures. The second is to study a system for using ethanol in flexible proportions, or E-Flex, alongside promoting domestically produced HEV-Flex hybrid vehicles and mHEV mild hybrid vehicles to support fuels with higher ethanol content. The third is to draw up a plan to raise the competitiveness of the biofuel supply chain, covering increased yields of sugarcane and cassava per rai, lower harvesting and transport costs, improved plant efficiency, and the development of sustainability standards and traceability systems, along with setting indicators such as yield per rai, raw material cost per liter of ethanol, production efficiency, and carbon emission intensity throughout the chain. The FTI therefore proposes formulating a national ethanol and biofuel strategy with clear long-term goals and action plans, and confirms the industry sector's readiness to help drive these approaches forward.

Cosmo Oil announced on the 17th that it will begin utilizing naphtha co-produced in the SAF manufacturing process together with Maruzen Petrochemical, Ube-Maruzen Polyethylene, and SAFFAIRE SKY ENERGY. At the SAF production facility within Cosmo Oil's Sakai Refinery, naphtha obtained during the production of SAF from waste cooking oil will be utilized as a raw material for chemicals. SAFFAIRE SKY ENERGY will produce the naphtha, Cosmo Oil will supply it, Maruzen Petrochemical will produce basic chemicals, and Ube-Maruzen Polyethylene will produce polyethylene for development into plastic products. The four companies plan to expand supply volumes and develop applications going forward, aiming to contribute to decarbonization in the chemical, textile, and packaging sectors.

Praj Industries and Gevo, Inc. announced the signing of a Development & Commercialization Agreement for Bio-Isobutanol technology in India, with Praj holding exclusive rights to deploy the technology in the country. The partnership will focus on developing commercial opportunities for Bio-IBA, primarily for diesel blending applications aimed at reducing the carbon intensity of one of the world's most widely used transportation and industrial fuels. The agreement builds on more than a decade of collaboration between the two companies to adapt and advance Bio-IBA technology for Indian feedstocks and market requirements. In a separate but aligned development, Praj is currently establishing India's first commercial Bio-IBA demonstration plant for a leading Oil Marketing Company, designed, engineered, supplied and erected by Praj based on Gevo's licensed Bio-IBA technology. According to Petroleum Planning & Analysis Cell, India consumed approximately 94.7 million tonnes, or 29.7 billion US gallons, of high-speed diesel in FY2025-26. Gevo Chief Executive Officer Paul Bloom called the agreement an important milestone, while Praj Founder Chairman Dr. Pramod Chaudhari said it establishes a strong foundation for bringing Bio-IBA to the Indian market.