Auto Industry, Energy, Transportation: Factors To Watch on August 24 image

Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Friday.

WORLD OIL PRICES

Brent futures fell below $115 per barrel in Asia on Friday on signs of economic weakness across the globe, while doubts about more easing by the Federal Reserve and renewed worries over Europe’s debt crisis also weighed.

Czech Republic
SKODA: Skoda Auto, a VW unit, has started production of its new compact sedan Rapid.

Thailand
PTT EXPLORATION AND PRODUCTION PCL
The energy explorer has postponed a shareholder meeting planned for Friday, saying its shareholders need more time to consider details of a $3.1 billion equity sale to be used partly to fund the purchase of Cove Energy.

Nordics

African Markets
KENYA OIL
Kenya’s sole refinery expects to buy 80,000 tonnes of UAE Murban crude oil in September as it speeds up its processing rate under a new system in which it sells the refined products itself, its chief executive said.

NIGERIA OIL
Nigerian crude oil exports will rise to around 2.05 million barrels per day in October from an 11-month low of 1.81 million bpd seen for September, a provisional loading programme showed, helping to replenish global supplies of light, sweet oil.

France
VOPAK
The world’s largest independent storage tank operator reported better-than-expected earnings before interest, tax, and exceptional items, or adjusted EBIT, in the first half of 2012 and confirmed its outlook.

China
PetroChina, the country’s dominant oil and gas producer which also owns refineries, posted a forecast-lagging drop of more than a fifth in its quarterly earnings, hit by lower crude oil prices CLc1 and refining and chemicals losses.