Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Tuesday.
WORLD OIL PRICES
Brent crude fell below $99 a barrel on Tuesday over concerns about demand growth after Chinese crude imports weakened in June, while worries of supply disruptions eased after a halt in the labour strike at Norway’s oil industry.
– PTT EXPLORATION AND PRODUCTION PCL
The energy firm said production of crude oil from the Te Giac Trang Field of Vietnam 16-1 project is expected to increase to 55,000 barrels of oil per day (bpd) in the fourth quarter this year from 41,000 bpd.
VESTAS WIND SYSTEMS
China’s Ming Yang Wind Power Group Ltd said on Tuesday it had no plans to acquire troubled Vestas, the world’s largest turbine maker, denying a report that it was in talks to buy its Danish rival for up to $2.5 billion.
Indonesia failed to reach its first half oil output target of 877,077 barrels per day (bpd) from initial target of 930,000 bpd, said Hardiono, deputy chairman of the oil and gas regulator
MAZDA AIMS TO TRIPLE SALES BY 2015
Japanese car maker Mazda Motor Corporation aims to boost its annual sales in Indonesia to 30,000 cars by 2015 growing three times from 9,054 cars in 2011, said Takashi Yamanouchi, Mazda Motor Corporation President and CEO.
Germany expects a deal to buy a stake in aerospace group EADS from Daimler will happen by the end of the year, the German minister in charge of aerospace policy said on Monday.
Europe’s biggest car maker plans to build an assembly factory in the central Chinese city of Wuhan with its local joint venture partner FAW Group Corp,Automotive News China reported on Monday, citing local media.
The French oil major said it would boost capacity later this year at the Yucal Placer gas field in Venezuela as part of a plan to triple its output by the end of 2014.
* AFREN : Italy’s ENI and Exxon Mobil are both running the slide rule over the Africa-focused oil explorer, the Daily Mail reports, citing market talk. Either one could launch a bid in the region of 2.15 billion pounds cash or 200 pence-plus a share, according to the paper’s market report.
* Brent crude fell below $99 a barrel on concerns about demand growth after Chinese crude imports weakened in June, while worries over supply disruptions eased as a labour strike in Norway’s oil industry ended.
ANGOLA EXXON MOBIL
U.S. oil group ExxonMobil said its Esso Angola unit had started oil production from the Kizomba Satellites project located offshore Angola.