Chevron (formerly known as Caltex in the Philippines) has earmarked $20 M for their ethanol projects in the Philippines in order to meet the 10% bioethanol requirement imposed by the Philippine Biofuel Law to be mixed in gasoline sold at the pump by January of 2009.
This was announced recently by Chevron brand manager Dominic Timbancaya during the launch of their E-10 blended gasoline. E-10 gasoline is gasoline mixed with 10% bioethanol. According to him, the $20M will be used for piping and tanks used in ethanol processing for the next two years.
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