Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Wednesday.
WORLD OIL PRICES
Brent crude dipped on Wednesday, coming off a 12-week top hit in the previous session, although worries about falling North Sea output and hopes for more stimulus measures from both sides of the Atlantic kept prices above $111 per barrel.
SEMBCORP MARINE LTD
– Sembcorp Marine, the world’s second-largest oil rig builder, said on Wednesday it has secured contracts worth about $4 billion from Sete Brasil Participacoes S.A., for the design and construction of five drillships.
Exploitasi Energi Indonesia plans to raise up to 2.7 trillion Indonesian rupiah ($285.19 million) from a rights issue in October.
PTT GLOBAL CHEMICAL PCL
Thailand’s largest petrochemical firm reported a 90 percent drop in its second-quarter net profit on Tuesday as the fall in global oil prices hit the value of its product inventories.
THAI OIL PCL
Thailand’s top oil refiner reported a net loss for the second quarter on Tuesday due mainly to an inventory loss at its refining operations after global oil prices dropped.
Iberia, owned by International Airlines Group, has entered into a hedging transaction with Nomura International to protect its share value in Amadeus saying the transaction will protect the value of its entire 7.5 percent interest in the technology group.
Finnish winter tyre specialist Nokian Renkaat reported a smaller-than-expected rise in second-quarter profit and said Europe’s economic uncertainty was discouraging customers from stocking up on tyres.