THE uk has revoked import tariffs on renewable fuel from the US and Canada, reports Bloomberg News.
The removal of the levy on Hydrotreated Vegetable Oil (HVO) will be applied retroactively from January 30, 2021.
Any resulting increase in imports won't hurt domestic businesses because there is no HVO industry in the UK, according to a representative behind the move.
The decision would benefit Diamond Green Diesel, a joint venture between Valero Energy Corp and Darling Ingredients.
HVO is a standard of fuel that is made from animal fat and used cooking oil.
It differs from fatty acid methyl ester, or biodiesel, which is made using a different process and can only be blended with traditional motor fuel in smaller quantities.
SeaNews Turkey
The removal of the levy on Hydrotreated Vegetable Oil (HVO) will be applied retroactively from January 30, 2021.
Any resulting increase in imports won't hurt domestic businesses because there is no HVO industry in the UK, according to a representative behind the move.
The decision would benefit Diamond Green Diesel, a joint venture between Valero Energy Corp and Darling Ingredients.
HVO is a standard of fuel that is made from animal fat and used cooking oil.
It differs from fatty acid methyl ester, or biodiesel, which is made using a different process and can only be blended with traditional motor fuel in smaller quantities.
SeaNews Turkey
