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 rose above $98 a barrel on Wednesday, recovering slightly from the previous session’s losses, ahead of U.S. inventory data that is expected to show crude stocks shrinking for a third week in the world’s largest oil consumer.
Vehicles sales in China rose 9.9 percent in June from a year earlier, the China Association of Automobile Manufacturers said on Wednesday.
* Airbus unveiled its first customer for the beefed up version of its A350-1000 widebody plane as Hong Kong-based airline Cathay Pacific said it planned to place an order worth up to $4.2 billion at list prices.
* Geely Automobile Holdings Ltd said its total sales volume for June was 34,495 units, a 16.2 percent increase from a year ago and up 5.1 percent from May.
Hyundai Motor Co. (005380) sold $1.45 billion bonds backed by auto loans, its largest offering on record of the debt, after increasing the size of the transaction by $200 million, according to a person familiar with the transaction.
– Singapore’s Keppel Corp KPLM.SI, the world’s largest oil and gas rig maker, said on Tuesday its Kazakh unit Keppel Kazakhstan LLP and Ersai Caspian Contractor LLC won an order worth $242 million to supply a jackup rig to a unit of KazMunayGas.
* Brent rose above $98 a barrel on Wednesday, recovering slightly from the previous session’s losses, ahead of U.S. inventory data that is expected to show crude stocks shrinking for a third week in the world’s largest oil consumer.
German carmaker BMW will invest 250 million pounds ($388 million) over the next three years to increase capacity at the British manufacturing plants where it makes the Mini.
Poland will launch a 1 billion zlotys ($292.69 million) research programme on Wednesday bent on exploring technological solutions that would facilitate shale gas development in the country, Gazeta Wyborcza reported.
Volkswagen plans to build an assembly factory in the central Chinese city of Wuhan with its local joint venture partner, Automotive News Chinareported on Monday, citing local media.