Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Wednesday. Independence Day
WORLD OIL PRICES
Brent crude remained steady at $100 per barrel on Wednesday as weak global economic data fuelled expectations of a stimulus response by central banks, and as supply disruption worries on rising tensions over Iran’s nuclear programme supported prices, offsetting demand concerns.
MOL BUYS PAP OIL FILLING STATIONS: Hungarian oil and gas group MOL bought 124 Pap Oil filling stations in the Czech Republic from Bohemia Realty Company. The deal, which will increase the number of filling stations MOL operates in the Czech Republic to 149.
BMW Group U.S. June sales 27,720 vehicles, up 3.2 percent from the 26,865 vehicles vs June 2011. BMW brand sales increased 0.4 percent in June.
Porsche North America sales up 18 percent in June. Volkswagen said sales rose 34.2 percent in June.
Mercedes-Benz sales chief Joachim Schmidt believes passenger car volumes could reach 1.5 million in 2014, one year earlier than planned, as long as markets hold up, he told Autogazette in an interview.
Brent crude slipped but stayed above $100 per barrel as tension over Iran’s nuclear programme fed worries about supply disruption.
TULLOW OIL : The oil explorer sees record first-half revenues of $1.15 billion, and net debt at 30 June 2012 approximately $0.7 billion. The company added it is confident on output.
HUNTING : The oil services firm said trading in the first six months of the year has been underpinned by an adequate oil price and it remains well positioned in its global markets with a broad product.
Chrysler’s operating profit this year could exceed its $3 billion target, Fiat-Chrysler CEO Sergio Marchionne said late on Tuesday. He also said that if Fiat is unable to guarantee the encessary labour flexibility in its Italian plants to satisfy export demand it will consider closing an Italian plant.
PSA PEUGEOT MITSUBISHI
PSA Peugeot Citroen and Mitsubishi Motors announced the start of full-scale production at their Kaluga plant in Russia. The first model to be produced will be the Peugeot 408. This will be followed by Mitsubishi’s new Outlander SUV to be produced from November 2012.