Auto Industry, Energy, Transportation: Factors To Watch on August 30 image

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

Brent crude fell towards $112 a barrel on Thursday after oil facilities in the Gulf of Mexico were largely spared storm damage, but maintenance at North Sea fields and a possible strike in Norway’s oil sector curbed losses.


German automobile company Volkswagen AG plans to develop a factory in Cikampek, West Java, with an annual capacity of up to 3,000 units, scheduled for the second half of
2013, said Andrew Nasuri, CEO PT Garuda Mataram Motor, an authorized dealer of VW.

Germany’s biggest airline will become the target of strikes on Friday, air cabin crew union Ufo said on Thursday, potentially disrupting hundreds of flights.
Air Berlin is set to intensify its search for a successor to CEO Hartmut Mehdorn. A new CEO could be named within the next six months, daily Financial Times Deutschland said, citing a source familiar with the matter.


China signed an agreement with Germany for 50 Airbus planes worth $3.5 billion as German Chancellor Angela Merkel began her visit to China, state news agency Xinhua said, the first significant Airbus deal with China since a dispute between Beijing and the European Union over emissions trading.

Volvo Car Corp., will reduce its production rate to 52 cars an hour from 57 at its Gothenburg plant, said Michael Blohm, a spokesman for the IF Metall union.

Russia cuts gas export volume, price f’cast-govt source
Rosneft mulls $500 mln gas deal with Fortum

Brilliance China Automotive Holdings Ltd said its first half net profit jumped 41.6 percent tp 1.33 billion yuan.