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 crude rose for the eighth consecutive session on Monday to just below $117 a barrel, though prices remained below a four-month peak hit on Friday on worries that high oil prices could hamper efforts to boost a struggling world economy.
SWIBER HOLDINGS LTD
Oil and gas services firm Swiber Holdings said it will issue S$80 million worth of senior perpetual securities at 9.75 percent. Australia and New Zealand Banking Group and DBS Bank are the joint lead managers and bookrunners of the issue.
Lufthansa’s management will present a strategy update to the supervisory board on Wednesday including plans for a new European low-cost airline, WirtschaftsWoche said.
Volkswagen’s commercial vehicles division expects a marked decline in demand from China compared with last year, and sees demand falling in Brazil and Europe, board member Leif Oestling told Frankfurter Allgemeine Zeitung.
Canadian Couche Tard, the owner of Statoil Fuel&Retail in Europe, is considering pulling back from Poland as the company needs capital for investment in Germany, daily Dziennik Gazeta Prawna writes without quoting sources.
ROYAL DUTCH SHELL
The oil major announced a delay to its Alaska drilling plans due to a containment dome aboard the arctic challenger barge being damaged during a final test. It said the time required to repair the dome had led the company to revise its plans for the 2012-2013 exploration program.
Uganda has officially revised its estimated oil reserves to 3.5 billion barrels from 2.5 billion barrels, the commissioner for a state agency in charge of petroleum exploration and production said on Monday.
Prominent Italian businessman Diego Della Valle, who controls luxury shoemaker Tod’s, lashed out at car maker Fiat on Friday, accusing the company and its top manager of a lack of coherence and commitment toItaly.
The French oil group expects to drill eight exploration wells in Uganda by end 2013, and will spend about $650 million on its activities in the same period, a senior company official said on Saturday.
NIGERIA OIL SPILL
Italian oil firm Eni said on Saturday an oil spill near its facilities in the Niger Delta had been contained, but local people said the pollution had spread and damaged their fishing.
SOUTH SUDAN OIL
South Sudan may resume pumping oil as soon as November, China’s ambassador to Africa said, adding Beijing was optimistic leaders in Juba will soon reach pricing terms with Sudan on piping crude through the country from which it recently split.