Moody's said the industry is benefiting from consistent government regulations and policies that support the shift to renewable energy, which helps power companies continue their transition despite the high debt levels
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The company informed stock exchanges on Wednesday that the timeline for the completion of this contract is 24 months
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The Organisation of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, revealed that they would continue to enforce substantial oil production cuts totalling 5.86 million bpd
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According to ICRA’s latest note on the steel sector, domestic steel mills are expected to see an increase in earnings in Q1 FY2025 due to favourable trends in input costs and rising steel prices
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The decision to prolong significant production cuts underscores OPEC+'s commitment to market stabilisation
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Currently, oil prices hover around USD 80 per barrel, a figure insufficient for many Opec+ members to achieve budgetary balance
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Despite this reduction, the price will remain capped at USD 6.5 per mmBtu under the current pricing formula, as part of the government’s efforts to stabilise the market
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Iron ore production hit 277 million metric tonnes (MMT), while limestone production reached 450 MMT. In April 2024, production of these minerals continued to rise
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