Auto Industry, Energy, Transportation: Factors To Watch on September 19 image

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

 

WORLD OIL PRICES
Brent crude fell below $112 a barrel on Wednesday on concerns over the capacity of a fragile global economy to support demand and indications that the world’s top oil exporter Saudi Arabia was pumping more oil to bring down prices.

Czech Republic
PIPELINE DEAL: Czech state-owned oil transport company Mero is to buy from Royal Dutch Shell a minority stake in the TAL pipeline that brings oil from the Italian port of
Trieste, a senior government official said.

CARS: Car production rose by 2.2 percent in the first eight months of the year to 804,152 units after rising by 4 percent in the first seven months.

Germany
PORSCHE
A German regional court in the northwestern town of Braunschweig will publish a decision at 0900 CET on Wednesday on two investor lawsuits against Porsche SE, the financial holding company of the German sports-car maker, seeking about 4.7 million euros of damages on charges of market manipulation.

Italy
FIAT
Fiat boss Sergio Marchionne said he will not close car factories in Italydespite a plunging domestic market, responding to calls from unions and politicians to clarify a multi-billion euro investment plan.
ENI, SNAM
Sovereign wealth funds from Singapore, Qatar and Abu Dhabi are interested in buying part of the shares Italian oil major Eni will sell to exit gas transport group Snam, a source close to the matter said on Tuesday.
France

MICHELIN
The tyremaker said it was targetting operating income before non-recurring items of 2.9 billion euros for 2015 following a summer review of its capital expenditure program and financial outlook.
AIR FRANCE-KLM
A dispute over engine maintenance between Air France-KLM and Rolls-Royce that has delayed a $7 billion Airbus plane order for a year already could take several months more to resolve, a senior airline executive said.

UK
BP : The energy firm has been in talks to sell its 400,780 barrel-per-day Texas City, Texas, refinery to Marathon Petroleum Corp MPC.N, according to a report posted by the Financial Times on its website on Tuesday.

African Markets

TANZANIA OIL
Tanzania will not revoke existing oil and gas contracts, its energy minister said on Tuesday, two days after he was widely reported in local media saying unfavourable deals would be scrapped.

SOUTH SUDAN OIL
Sudan’s President Omar Hassan al-Bashir will hold a summit with his counterpart from South Sudan, Salva Kiir, in Ethiopia on Sunday to wrap up two weeks of talks to end hostilities between the African neighbours, state media said on Tuesday.