Pertamina’s biodiesel tender a bust, only securing 18% of demand

In Indonesia, Pertamina only managed to secure 18% of the 6.6 billion liters of biodiesel it sought for 2014 at a recent tender. The company purchased 1.12 billion liters. The reason was that due to Pertamina’s new pricing mechanism, which many biodiesel producers complained wasn’t fair, many didn’t participate in the end. The company will have to re-tender in order to secure the remaining biodiesel supplies but it’s not clear if the pricing mechanism will be the same for the second round.