China Petroleum & Chemical Corp. (600028.CN, 00386.HK), commonly known as Sinopec, was on Wednesday awarded the country’s first bio-jet fuel production license by the nation’s civil aviation authorities, China Securities Journal reported Thursday, citing the parent Sinopec Group. This suggests that China is entering the commercialization stage in bio-jet fuel, and that it has become the fourth country to possess the production technologies after the United States, France and Finland. China’s consumption of jet fuel has reached 20 million metric tons a year. The International Air Transport Association (IATA) has predicted that bio-jet fuel will account for 30 percent of the world’s total jet fuel consumption by 2020, the report noted.
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