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 futures slipped to $114 on Monday, falling for a second day due to worries over the worsening outlook for demand growth, although mounting supply concerns over escalating tension in the Middle East kept losses in check.
JETS TO IRAQ: Iraq agreed to buy 28 mostly new L-159 sub-sonic light combat jets for about $1 billion, the first foreign sale of the Czech-made planes.
Volkswagen expects growth in China of between seven and eight percent, Jochem Heizmann, board member for China told Automobilwoche.
Pilots at Lufthansa no-frills Germanwings brand are set to demand a pay rise to match the level seen at the premium Lufthansa brand, arguing that the basis for the lower renumeration has vanished following the transfer of short-haul flights to Germanwings.
PSA PEUGEOT CITROEN
General Motors and the French automaker are exploring ways to combine European operations in a second phase of the carmaking alliance they forged to save costs earlier this year, sources said.
Brent futures slipped to $114 on Monday, falling for a second day due to worries over the worsening outlook for demand growth.
BP : Bidding will open this week for BP’s half of Russian oil company TNK-BP, with state oil major Rosneft tipped as the likely buyer of the British oil major’s stake in the fraught but lucrative joint venture.
TULLOW OIL : The oil group said it had acquired a stake in Maersk’s Greenland licence.
Italy’s government and car maker Fiat SpA have begun looking for ways the state can help the company increase its exports in return for commitments from Fiat, Prime Minister Mario Monti said on Friday.
Russia has invited India’s Oil and Natural Gas Corp Ltd to consider buying a stake in the Magadan 2 field operated by Rosneft in the northern part of the Sea of Okhotsk, its deputy energy minister said on Sunday.
The energy firm plans to sell $1-2 billion of bonds in October/November in overseas markets, Chief Financial Officer Surong Bulakul told reporters.
Sudan expects to double its oil production in the next two years, to 300,000 barrels per day, as it steps up oil exploration, the country’s petroleum minister said on Monday.