Taiwan’s state oil company signs MOU for 247,000 acre, 50 year jatropha project in Indonesia

In Taiwan, the state-owned Chinese Petroleum Corp signed an memorandum of understanding this week with Induk Kud, the Indonesian national farm and fishing co-op, to plant 247,000 hectares of jatropha curcus in Indonesia, which will be processed for biofuels.

Under the agreement, CPC will grow jatropha for 50 years, and expects to obtain 350,000 tons per year of jatropha oil and two million tons of CO2e carbon credits.

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