Auto Industry, Energy, Transportation: Factors To Watch on July 27 image

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

WORLD OIL PRICES
Brent remained over $105 per barrel on Friday, buoyed by a European Central Bank pledge to protect the euro zone and hopes for fresh stimulus in the United States, though it stayed on track for its biggest weekly drop in over a month.

Germany
BMW
The world’s largest premium carmaker dropped its demands for compensation in the hundreds of millions of euros and is now willing to accept less than 100 million from PSA for exiting their hybrid components joint venture, German stock letter Platow Brief reported late on Thursday.

VOLKSWAGEN, PORSCHE
Q2 results of sportscar maker Porsche AG due at 0900 GMT.

Separately, Volkswagen rebuffed accusations about waging an unfair price war in Europe by demanding that Fiat Chief Executive Sergio Marchionne step down as chairman of European auto trade group ACEA.

Daily Handelsblatt reported that Volkswagen was suspecting inappropriate use of its intellectual property by Chinese joint venture partner FAW, citing an unnamed top executive.

EADS
European planemaker Airbus delayed the introduction of its newest passenger jet, the carbon-composite A350, as parent EADS unveiled better-than-expected second-quarter earnings lifted by resilient demand for its existing range of jetliners.

Thailand
PTT EXPLORATION AND PRODUCTION PCL
The oil firm moved a step closer to finalising its $1.9 billion takeover of Cove Energy after securing acceptances for its offer from 72 percent of shareholders in the Mozambique-focused gas firm.

Italy
FIAT
German automaker Volkswagen rebuffed accusations about waging an unfair price war in Europe by demanding that Fiat Chief Executive Sergio Marchionne step down as chairman of European auto trade group ACEA.

ENEL
Shares in Chile-based regional energy company Enersis tumbled on Thursday due to investor concerns about a planned capital increase of up to $8.02 billion — the largest in the Andean nation’s history. Enersis is controlled by Enel through its Spanish unit Endesa

PIRELLI
Tyremaker Pirelli confirmed its operating profit outlook for the year as it continues to focus on premium products in the face of the global economic slowdown but trimmed its sales guidance.

African Markets
SUDAN/SOUTH SUDAN OIL
Sudan and recently independent South Sudan resumed crucial talks on Thursday to end an oil dispute for the first time since border fighting brought the African neighbours to the brink of war in April.

Poland
PGNiG
Gas monopoly PGNiG and U.S. firm FX Energy discovered gas in a deposit that might hold more than 1 billion cubic metres of the fuel, Parkiet reported without citing its sources, adding its commercial extraction might start in 2-5 years.

Turkey
KARSAN
The vehicle maker is still waiting completion of a tender to supply the Istanbul transport authority with 200 natural-gas-powered buses and 250 articulated buses but gave “the most economic bid,” Dunya newspaper reported.

AYGAZ
The oil and gas distributor has cancelled its licence in the compressed natural gas sector after earlier saying the sector was too small and unprofitable, Dunya said.

Hong Kong
Shares of oil majors in China are set to be a focus after weaker oil and gas prices took their toll on Royal Dutch Shell’s second-quarter profits, while extra maintenance costs on high-margin U.S. Gulf production drove earnings below analysts’ expectations.