Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Monday.
WORLD OIL PRICES
Brent oil rose above $91 per barrel on Monday as a storm threat shut a quarter of U.S. offshore crude and gas output, while an improved demand outlook after euro zone leaders backed a plan to revive the region’s growth also aided prices.
EIGHT CZECHS KILLED IN BUS CRASH: Eight Czech citizens were killed and 43 injured on Saturday when the bus they were travelling in crashed into the safety fence and overturned on a motorway in central Croatia, police said.
AAA AUTO SHARE BUYBACK: Shareholders of used car dealer AAA Auto extended the company’s share buyback of up to 10 percent until December 2013.
The German premium car maker and Toyota Motor Corp are planning to expand cooperation beyond green car technology and diesel engines, magazine Der Spiegel reported on Sunday, without citing sources.
Europe’s largest car maker’s finance division is considering the impact of a possible exit ofGreece from the single-currency zone, Chief Executive Frank Witter told Automobilwoche in remarks confirmed by a spokesman on Sunday.
South Korean tyre maker Hankook Tire will start supplying tyres for German auto manufacturer Daimler, Handelsblatt reported on Sunday without citing sources.
PORSCHE SE – proposed dividend 0.76 eur/shr
American carmaker Ford starts producing the B-Max car at its Romanian plant in Craiova on Monday. Ford plans to manufacture 60,000 B-Max this year, out of which 99 percent will be exported.
Enel Green Power, Italy’s biggest renewable company, plans to develop another 202 MW in wind parks and 25 MW in micro hydropower plants in Romania by 2016.
Suzlon Group, which controls wind-turbine maker Suzlon Energy, said on Saturday it will sell stake in its
China manufacturing unit to China Power New Energy Development Co. Ltd. for 3.4 billion rupees ($60 million).
Polish refiner PKN Orlen might partner with BNK Petroleum in shale gas exploration in Poland, Dziennik Gazeta Prawna reported without citing its sources. The plan is for Orlen to enter one of BNK’s licences located in the north of Poland, the daily said.
Brent crude rose above $91 per barrel on Monday as a storm threat shut a quarter of U.S. offshore crude and gas output, while an improved demand outlook after euro zone leaders backed a plan to revive the region’s growth also aided prices.
Oil workers in Norway went on strike from Sunday, shutting down oil and gas production at two major Statoil-operated oil fields, Heidrun and Oseberg, which together account for about 150,000 barrels per day of production.
U.S. logistics company Ryder Systems Inc cut its second-quarter earningsforecast after the close of the Swedish stock market on Thursday, citing lower demand for its commercial rental services, and said it expected weakness to persist through the year.
Volvo is a leading supplier of trucks in the U.S. market.
French and Benelux
The oil services company said it had secured a contract with En Quest Britain Limited for the development of two offshore fields in Scotland.
Airbus’s revised target to deliver its new widebody A350 passenger jet during the first half of 2014 is “challenging” but “achievable”, the company’s CEO Fabrice Bregier told the Financial Times on Monday.