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

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

United States
America will halve its reliance on Middle East oil by the end of this decade and could end it completely by 2035 due to declining demand and growth of new petroleum sources, energy analysts say.

New car sales in the U.S. in June are expected to reach their highest point since 2007, according to a new survey.

– Russia’s energy ministry has defined the development of the Shtockman natural gas filed in the Barents Sea as the key project for the local gas exporting monopoly Gazprom in the near future.

– Singapore’s Dyna-Mac, which provides services to the oil and gas industry, said on Tuesday it had secured four fabrication orders for a provisional S$43 million ($33.6 million).
> Oil rises to $93, Norway strike cuts North Sea output

On Monday, Poland’s gas monopoly PGNiG will sign a agreement with copper producer KGHM on shale gas exploration in northern Poland, daily Dziennik Gazeta Prawna wrote without quoting sources.

General Motors’ Indian unit holds a press event with senior executives in New Delhi. (07.00GMT)
Maruti Suzuki India is gearing up to introduce by the end of this year a new 800 cc car that is likely to be
more fuel efficient, but also more expensive than its existing bestselling model Alto.

Brent crude fell below $93 per barrel on Wednesday as concerns the summit will not produce concrete anti-crisis measures offset tighter North Sea oil supply.
Malaysian crude palm oil futures ended higher on Tuesday, supported by rising exports and concerns that drought in the United States could damage the soybean crop and limit global supplies of edible oils.

The Danish oil and shipping group has received authorisation to carry out the first exploration drilling in the Danish part of the North Sea in four years, daily Jyllands-Posten said. The drilling will be carried out as a high pressure, high temperature drilling at the Maja license in the North Sea, Jyllands-Posten said.

Turkey and Azerbaijan signed an inter-governmental agreement on Tuesday on the $7 billion Trans-Anatolian natural gas pipeline project (TANAP), planned to carry Azeri natural gas across Turkey to Europe.

The car maker plans to sell more than 50 percent of its vehicles outside Europe by next year, up from 48 percent, Chief Operating Officer Carlos Tavares said during a press conference in Seoul.

Investors claiming that Porsche SE misled them about plans to take over Volkswagen in 2008, will take to German courtrooms on Wednesday, pushing for more than 4 billion euros in damages.