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 futures fell towards $110 in early Asian trade on Monday, dragged down by a firm dollar and worries about weak economic growth in key consumer nations.
PTT, Thailand’s top energy company, has offered to buy out Sakari for $960 million as the oil and gas firm expands into coal to meet rising regional demand for the fuel.
PTT EXPLORATION AND PRODUCTION
Thailand’s top oil and gas explorer said on Friday the company and its partners including CNOOC Ltd and SONATRACH, discovered crude oil at two exploration wells in
Italy’s Fiat and the Italian government said on Saturday they will look for ways to improve the company’s manufacturing efficiency, as the automaker pledged to keep building cars in Italy while shifting its focus to foreign export markets.
La Repubblica reported Monday without citing sources that the automaker will not update the market on its plans for Italian factories when it approves its third-quarter results on October 30.
Eni is to convert an unprofitable oil refinery near Venice into a production plant for biofuels from 2014 at an estimated cost of 100 million euros.
The automotive supplier is on track to reach its full-year targets and does
not need to shorten workers’ hours, Chief Executive Elmar Degenhart told
Frankfurter Allgemeine Sonntagszeitung.
Brent crude futures fell below $111 in early Asian trade on Monday, dragged down by a firm dollar and worries about weak economic growth in key consumer nations.
BP The British oil giant, which wants to buy a stake in Russian state-controlled rival Rosneft, plans to appoint a prominent Russian to its board of directors as part of a new commercial alliance with the Kremlin, the Sunday Times newspaper said.
The French car maker does not intend to cut jobs or plants “at this stage”, but domestic factories must improve productivity to match sites in Spain and Britain, Chief Operating Officer Carlos Tavares said in an interview published on Friday.
Lundin Petroleum has successfully completed an appraisal well on the giant Johan Sverdrup field and results show excellent reservoir quality and thickness, the firm said.
The Democratic Republic of Congo will allow exploration work inside Africa’s oldest national park if significant oil deposits are found there, the hydrocarbons minister said.