Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Wednesday.
Petrom plans to invest 1 billion euros annually until 2014, particularly in the exploration and production sectors.
Czech TPCA car plant will let go 250 workers as demand for its cars fell. It has sold cars to
those European markets that are now facing serious economic problems. The Czech car assembly plant jointly owned by Toyota Motor Corp and PSA Peugeot Citroen produced 270,000 vehicles last year.
Brent crude was steady at under $96 a barrel on Wednesday, but prices stayed close to 17-month lows hit the previous session as worries over Spain’s deep borrowing costs lingered ahead of the outcome of the U.S. Federal Reserve’s policy meeting.
JASA MARGA TO SPEND 3.5 TRLN RPH ON ELEVATED HIGHWAY
State toll road operator PT Jasa Marga Tbk plans to build a 23-kilometre elevated highway with a total investment of up to 3.5 trillion rupiah ($372.14 million).
Malaysian palm oil futures closed higher on Tuesday one xpectations of increased demand due to oncerns that dry U.S. weather could damage the soybean crop, tightening global edible oil supply.
The head of Danish wind turbine maker Vestas said in an interview in the daily Politiken that the company faces big challenges in the short term, and Chinese competition has changed the industry in recent years.
British energy company Madagascar Oil hopes a boom in oil and gas exploration in East Africa will help it attract partners next year for its projects on the island of Madagascar, its chief executive said.
The oil services company said on Wednesday it secured a 300 million euro contract for a oilfield development in the North Sea off the Norwegian coast.
The auto maker’s Citroen brand plans to launch two new versions of its C4 model, mirroring moves by PSA’s Peugeot to cater to emerging markets and to help reduce the struggling French car group’s dependence on flagging Western European demand.
The Franco-Dutch carrier is considering selling a stake in its Servair catering unit, which is valued at 300 million euros ($380 million), Bloomberg reported on Tuesday, without identifying its sources.
Russia’s RUSAL, the world’s biggest aluminium producer, is prepared to cut output and costs this year to
support prices, which could recover in 2013 if China also reduces production, a senior executive told Reuters.