India's finished steel imports fall 11.3% in April as China, Japan shipments slow
India's finished steel imports fell 11.3% year on year in April to 0.5 million metric tons following a decline in shipments from China and Japan, according to provisional government data reviewed by Reuters on Thursday.

SAIL pushes ahead with ambitious expansion plans, despite project delays
In a review meeting at the Ministry, held earlier this month, some of its projects were found to have been delayed by nearly two years (22 months). Capex target for FY26, has been pegged at ₹7,500 crore – which will include some part of its second phase expansion projects. Against a budgeted capex of ₹400 crore in April, the spending was about ₹500 crore.

Vedanta gets Rs 1.8 crore tax penalty order from Coimbatore GST and Central Excise Commissioner
Vedanta has received a Rs 1,87,60,764 tax penalty order from the Coimbatore Commissioner of GST and Central Excise. The issue pertains to the utilization of  Central Value Added Tax credits on the inputs purchased in the period between February 2010 and March 2011. 

Hindalco’s India biz shines, but Novelis holds the key to re-rating
Hindalco Industries Ltd ended FY25 on a strong note, reporting a consolidated Ebitda of ₹9,600 crore for the March quarter (Q4FY25), up nearly 40% year-on-year. While its India aluminium business delivered stellar margins, the global subsidiary Novelis continues to lag, keeping investors cautious.

India may become biggest natural diamond market: De Beers Group CEO
 

ONGC posts ₹8,856 crore profit in Q4 FY25
The exploration and production (E&P) major’s consolidated gross revenue fell marginally on an annual basis to ₹1.70 lakh crore during the March quarter of the last fiscal year.

OPEC+ may flood market with more oil in July, risking weaker crude prices
OPEC+ may consider a much bigger increase in oil supply for July, with a jump of 411,000 barrels per day being one of the main options. That’s three times higher than what was planned earlier. The final decision will be taken on June 1, Bloomberg reported, quoting unnamed delegates. The move could push oil supply above what the market needs and has already caused oil prices to drop.

ONGC Videsh to commission Mozambique LNG project by 2028
ONGC Videsh, the overseas arm of state-owned ONGC. expects to complete its offshore gas exploration project in Mozambique by late 2027 or early 2028, its managing director Rajarshi Gupta said in an analyst call. 

Q4 FY25 net profit falls by 35% at Rs 6,448 crore
New Delhi: The Oil and Natural Gas Corporation (ONGC) reported a 35% drop in its March quarter net profit as it realised lower oil prices on almost static output, the company officially announced here on Thursday.

India’s crude oil, refinery throughput, petroleum product output fall in April
India’s two-wheeler major Bajaj Auto on Thursday said that it will acquire majority control of Austrian motorcycle company KTM AG through its wholly owned subsidiary, Bajaj Auto International Holdings BV (BAIHBV). The move comes as KTM is undergoing a restructuring process amid an acute financial crisis. 

Gulf Oil’s Q4 revenue grows 7.3% at Rs 3,554 crore
Gulf Oil Lubricants India Limited, a Hinduja Group Company, has reported its audited financial results (Standalone and Consolidated) for the Quarter and year ended March 31, 2025. Key highlights (Standalone) are as below.

India poised to end the Dragon's dominance era in oil demand: Moody's
After more than a decade of dominance by China, the global oil and gas spotlight is shifting, and it’s India that’s now centre stage.

OPEC+ mulls super-sized output surge of 4,11,000 bpd for July—triple of initial plan: How it risks crude prices?
OPEC members are discussing making a third consecutive oil production surge in July, to be decided at the group’s meeting in just over a week, delegates said.

NTPC Green Energy shares rally 11% after Q4 net profit surges 2.8 times
NTPC Green Energy’s share price surged 11% to an intraday high of Rs 117.64 on the National Stock Exchange (NSE) today. However, it later pulled back and was trading 5.3% higher at Rs 111.80. The sharp rise came after the company reported a consolidated net profit of Rs 233.21 crore in the fourth quarter of the financial year 2024-25, marking a 188% year-on-year increase.

Reliance to start solar module factory this year
Mukesh Ambani's Reliance Industries will start its solar photovoltaic modules factory this year, a company executive said on Thursday. "We are today building three bigger factories... in order to produce clean energy requirements," said Partha S Maitra, President, Strategy and Initiatives at Reliance Industries. India has been scrambling to meet its clean energy targets after falling short in 2022.

Saatvik Green Energy Limited certified as a great place to work® for 2025-2026
 

JSW Group's energy business chooses wrench smart project PMIS over global brands