Chinese and European automotive suppliers are most likely to benefit from consolidation resulting from merger and acquisition actions worldwide, according to a study by management consulting firm PRTM.

Powertrain firm FEV, Inc., and lithium-ion battery producer Energy Innovation Group (EIG) have joined forces to develop a lithium-ion battery pack that will be used on a Dodge Caliber concept vehicle.

Joining automakers Toyota and Honda, Japanese automaker Suzuki is considering selling hybrid vehicles in North America in 2011.

The price of the September NYMEX crude futures contract fell 1% Monday, to $66.75 per barrel, as economic jitters parlayed into crude settling at its lowest level in two weeks.

Spot ethanol prices in the U.S. continued to be choppy and subject to fairly wide swings yesterday, even as ethanol futures held up fairly well in spite of a mainly down day for the broader energy markets.

Production increases, more favorable crude prices and reduced operating expenses helped Petrobras’ consolidated net income for the second quarter increase by 33% compared to a year ago.

Lowered refining margins contributed to Israel’s Oil Refineries seeing a second quarter 2009 net loss of US$8 million.

The American Petroleum Institute, along with the U.S. Chamber of Commerce, the National Association of Manufacturers and a number of conservative groups, is urging its members to participate in rallies across the U.S. aimed at chipping away political support for cap and trade and other climate change measures.

The Iranian Oil Minister declared over the weekend that Iran can handle the country’s gasoline needs should the West decide to apply gasoline sanctions against Iran.