Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Thursday.
WORLD OIL PRICES
Brent crude held steady above $105 on Thursday, near a seven-week high on geopolitical fears, while comments by the U.S. Fed about the world’s biggest economy avoiding a double-dip recession renewed hopes of a recovery in oil demand growth.
UNIPETROL GIVES GLOOMY OUTLOOK: Czech downstream oil group Unipetrol expects to report a deeper second-quarter operating loss than in the first quarter due to lower crude oil prices and lower price quotations of refining and petrochemical products, it said.
Fiat to halt for two weeks production of its Panda model at Italy’s Pomigliano plant as of end August following a slump in European sales, Italian newspapers said.
– ENERGY FIRM EXPLOITASI PLANS TO BUILD POWER PLANTS
Energy company PT Exploitasi Energi Indonesia plans to develop one coal-fired power plant and five small hydro power plants, worth around $69 million, across Indonesia, said CEO Henry H Sitanggang.
* Malaysian crude palm oil futures slid to a near three-week low on Wednesday, as traders booked profits partly on weaker exports and better production outlook in Malaysia after a recent U.S. weather-fuelled rally.
Ferrovial, which owns British airports operator BAA, has reduced its capital in Heathrow airport by 1.4 billion euros, reports business daily Expansion, adding that the move paves the way for BAA to start paying dividends.
* Brent crude held steady above $105 on Thursday, near a seven-week high as oil supply fears were stoked by a deadly bombing in Syria and an attack on Israeli tourists in Bulgaria that added to political turbulence in the Middle East.
* BP – BP said on Wednesday it would start negotiations with the Alfa Access-Renova (AAR) consortium of Soviet-born tycoons to buy all or part of its 50 percent share in TNK-BP after they notified the British oil major of their intentions earlier in the day.
* GENEL ENERGY – The oil and gas producer led by former BP boss Tony Hayward, has made its first acquisition in Morocco and the Ivory Coast, the Times reported on Thursday.
* PetroChina ,Asia’s largest oil and gas producer, said it had signed a memorandum of understanding
with African Petroleum Corp for a strategic investment in Africa.