Auto Industry, Energy, Transportation: Factors To Watch on June 29 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 oil rose more than a dollar to above $92 per barrel on Friday after European leaders agreed on steps to tackle the region’s intractable crisis in a move that could lift the global economy and fuel demand, while supply disruptions also aided.

India:
* India’s state-run fuel retailers will cut gasoline prices by 2.46 rupees ($0.04) per litre from Friday, Indian Oil Corp said, responding to softer global oil and petrol prices.

China:
China’s Xinjiang Goldwind Science & Technology Co , China’s second-biggest wind turbine maker, said it has sold its 19.5 megawatt Mortons Lane wind farm in Australia to CGN Wind Energy Ltd (CGNWE), a unit of China Guangdong Nuclear Power Group.

Malaysia:
Petroliam Nasional Bhd, Malaysia’s state-owned oil and natural-gas company, agreed to buyProgress Energy Resources Corp. (PRQ) for C$4.8 billion ($4.6 billion), in its biggest deal as it moves to export Canadian gas to Asia.

Germany:
Germany’s BMW is expanding a tie-up with Toyota Motor on hybrid and fuel-cell vehicle technology as the global automakers push further into the “green” market.

German luxury carmaker Daimler said on Friday its Japanese truck unit Mitsubishi Fuso has reached a memorandum of understanding (MoU) with Nissan Motor on the mutual supply of light-duty trucks in Japan.

US:
Ford Motor Co. (F), the second-largest U.S. automaker, said its pretax operating profit will be “substantially lower” in the second quarter in part because overseas losses tripled from the year’s first three months.