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Fuel ethanol usage in Europe in the very first fifty percent of 2014 was reduced and the market lacked the political assistance to fulfill Europe’s renewable energy targets, Manuel Sanchez-Ortega, Chief Executive Officer of Spain-based ethanol producer Abengoa, said Wednesday.

In an incomes phone call with experts, Sanchez-Ortega stated the European market had actually been "weak" in the very first half and denounced a "lack of conclusive political support" from the EU in spite of "ambitious" targets for the advancement of renewable energy.

He did not divulge Abengoa’s fuel ethanol sales or production numbers in Europe through. The business said it produced EBITDA of Eur84 million in its biofuels segment in the first half, up from Eur41 million in the same period last year. The number consists of earnings from procedures in Brazil, US as well as Europe.

Negotiations for changing the EU’s biofuels policy have actually been ongoing for over 18 months. In June, EU member states reached an agreement to evaluate 7% the restriction for crop-based biofuels that can count towards the bloc’s 2020 goal, up from 6% originally proposed by the EU parliament.
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Originally, the whole of this target can have been be consulted with biofuels such as gas ethanol, however Brussels determined to top making use of food-based biofuels because of impending problems regarding their ecological advantages and food rising cost of living.

A transfer to begin negotiations on the renewable resource package stopped working to protect enough votes at its initial analysis in the EU parliament in 2014.

Mixing economics for ethanol throughout the first half of 2014 have been solid in Europe, with the price cut that area ethanol holds versus fuel Eurobob hitting a four-year optimal at $180.61/ cu m on July 8, according to Platts information, the largest price cut considering that Platts started evaluating Eurobob in July 2009.

Regardless of this, ethanol manufacturers across Europe have reported damaged need, with consumers in Germany choosing lower-rate blends over the much more competitively priced greater blends of E10.