Australian Renewable Fuels reports large losses

Australian Renewable Fuels (ARF) has reported a net loss of $33.6 million to the Australian Stock Exchange. This news comes after a major multinational oil company terminated advanced negotiations with with ARF to supply its WA retail service stations with blended biodiesel.

ARF chief executive John Lillywhite said the company was told that complexities with the logistics of blending biodiesel with bulk mineral diesel at the oil company’s WA terminal was the reason behind the termination.

Interestingly, ARF remains in negotiations with the same oil company over a supply agreement from its Adelaide plant, with that agreement dependent on terminalling logistics.

Source: WA Business News, ASX


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