Biofuels

On September 10, 2010, the Secretary of Energy (“SE”) enacted Resolution No. 828/10 that:

   (i)  Approved new quality specifications for Biodiesel (B100), modifying the parameters previously established by the Resolution SE No. 6/2010; and

   (ii)  Increased the percentage of Biodiesel volume share in the final blend with diesel oil.

Resolution SE No. 6/2010 had stipulated the quality specifications set for Biodiesel B100 in order to be blended with a minimum percentage of volume of 5%, with gas oil or diesel oil. Resolution SE No. 828/2010 has increased this percentage to 7 %, measured in the total quantity of the final product. 

According to this resolution, the specifications set forth therein must be fulfilled at the moment of disposal of BIODIESEL (B100) from the authorized Producing Plants.