Idemitsu Kosan Co. and the Cambodian government signed a memorandum of understanding (MoU) in Phnom Penh to promote bioethanol production in Indochina. The Japanese oil refiner has been promoting the business of biofuel production in Southeast Asia because it believes that biofuels are promising renewable energy sources and are good alternatives to gasoline and other energy sources. The company’s goal is to produce and sell 200,000 kiloliters of ethanol per year by 2020. (December 10, 2012)