MIL-OSI United Kingdom: UK reaffirms commitment to UN peacekeeping operations as Minister announces new funding for programmes

Source: United Kingdom – Executive Government & Departments

Press release

UK reaffirms commitment to UN peacekeeping operations as Minister announces new funding for programmes

More than 250 personnel from the UK Armed Forces are deployed to locations such as Cyprus and Somalia, working to reduce the threat of violence

The UK has announced a raft of investment for international initiatives to support UN peacekeeping activity.

As one of the largest financial contributors to UN peacekeeping operations, the UK has enduring deployments of around 250 military personnel to locations such as Cyprus, Somalia, and South Sudan, which see British troops working alongside peacekeepers from other countries, building their capability and enabling the UN to deliver its peacekeeping mandates.

Attending the annual UN Peacekeeping Ministerial summit in Berlin today, the Minister for the Armed Forces confirmed more than a million pounds of additional investment in international programmes to make peacekeeping operations more effective, deliver training to partner armed forces around the world, and to enhance accountability.

Pledges announced include:

£150,000 to support the roll-out of a UN reinforcement training package for commanders to help build skills to raise standards of conduct and discipline, while specifically aiming to strengthen leadership and accountability while combatting sexual exploitation and abuse.
£200,000 will fund monitoring and analysis of Action for Peacekeeping Plus – a key UN reform agenda – using data-driven insights to enhance and reform international peacekeeping with an evidence-based approach.
£500,000 to be invested in the Elsie Initiative Fund, which is co-chaired by the UK and UN Women, that aims to accelerate the pace of change in security institutions to enable more uniformed women to meaningfully deploy to and participate in peace operations.
£100,000 of investment will see the UK step up to co-host a peacekeeping course aimed at women alongside Austria and Kenya.
£125,000 will be spent on funding for the Peace Operations Training Institute, an NGO focused on delivering training to support peace operations and providing resources to counter disinformation and misinformation.

Not only will these measures contribute to building effective UN peacekeeping missions, they will also support the UK to ensure its forces have experience working alongside key partners, building their skills, capability and operational effectiveness.

Minister for the Armed Forces, Luke Pollard, said:

With the threat of conflict rising around the world, it has never been more important for countries to come together to assess what more we can collectively do to support those who selflessly put their lives at risk in the name of peace.

The UK has always been a staunch supporter of UN peacekeeping and the multilateral, and with hundreds of our personnel deployed on operations or supporting peace programmes in Europe and Africa, it was a pleasure to reaffirm our commitment today in Berlin to supporting peace processes and reducing the threat of conflict.

65 UN peacekeepers were killed or lost their lives in the line-of-duty last year. Their determination and sacrifice will be honoured by our reaffirmed commitment to deepening our international partnerships to deliver peace and cease unnecessary conflict.

Peacekeeping is essential to assisting countries transition from conflict to peace, helping to support stability in some of the most volatile regions the world, in turn positively affecting the UK’s own national security – which is the foundation of the government’s Plan for Change. It plays a critical role in preventing the outbreak of larger-scale violence and conflict which would otherwise require greater UK diplomatic, defence or development investment.

The most prominent UK activity in support of UN peace operations is through Operation Tosca in Cyprus, a reoccurring deployment to maintain 50 years calm, which sees British troops patrolling and maintaining the integrity of the buffer zone that runs between the Republic of Cyprus to the south and the so-called Turkish Republic of Northern Cyprus (TRNC) to the north (which is not recognised by the UK as a sovereign territory). It has been one of the UK’s longest-running operations and continues to play an essential part in the peace process between the RoC and the so-called TRNC.

Lord Collins of Highbury, FCDO Minister for Africa said:

Peacekeepers are in harm’s way every day to keep the communities they serve safe through courage and determination. In an era of global instability, they need the support of the international community now more than ever.

That’s why the UK is strengthening its commitment to UN peacekeeping operations through new funding and support, and why we must continue to strengthen our collective will to use peacekeeping effectively for peace and security.

A small number of British personnel also support a UN peace mission in Somalia, which conducts vital work to reduce the threat from extremist groups, such as Al-Shabaab, by helping to prevent them establishing a foothold in the country.

More broadly, the UK helps train and support the security forces of many African nations to enhance their peace operations, through the British Peace Support Team (Africa) which is headquartered in Nairobi, Kenya.

BPST(A) conducts around a hundred activities a year across sub-Saharan Africa, working closely with the UN to develop and deliver capacity-building, especially in peacekeeping intelligence, senior leaders’ courses, training to help counter the threat of improvised explosive devices, and combat sexual exploitation and abuse.

The team delivers these activities primarily alongside the African Union’s Peace and Security Operations Division, with African Standby Forces ,and with training institutions across the continent – training more than 3,000 personnel a year all ranks, from junior soldier to senior mission leader, from police, civilian and military disciplines.

Published 15 May 2025

MIL OSI United Kingdom –

May 15, 2025

MIL-OSI Video: Deputy President Paul Mashatile National Assembly oral reply 4

Source: Republic of South Africa (video statements-2)

https://www.youtube.com/watch?v=6Wd4G4CJa0E

MIL OSI Video –

May 15, 2025

MIL-OSI Video: Deputy President Paul Mashatile National Assembly oral reply 5

Source: Republic of South Africa (video statements-2)

https://www.youtube.com/watch?v=2w3gGATBBBc

MIL OSI Video –

May 15, 2025

MIL-OSI Video: Minister in the Presidency briefs media on recent Cabinet Meeting

Source: Republic of South Africa (video statements-2)

Minister in the Presidency briefs media on recent Cabinet Meeting

https://www.youtube.com/watch?v=Cr5JobpFs1w

MIL OSI Video –

May 15, 2025

MIL-OSI Video: MY MZANSI DIGITAL TRANSFORMATION ROADMAP LAUNCH

Source: Republic of South Africa (video statements-2)

Minister of The Department of Communication and Digital Technologies Solly Malatsi delivers keynote address at the My Mzansi Digital Transformation Roadmap Launch.

https://www.youtube.com/watch?v=1RtKBmrE1OI

MIL OSI Video –

May 15, 2025

MIL-OSI Video: Deputy President Paul Mashatile National Assembly oral reply 1

Source: Republic of South Africa (video statements-2)

https://www.youtube.com/watch?v=rDQTCPkiv0k

MIL OSI Video –

May 15, 2025

MIL-OSI Video: Deputy President Paul Mashatile National Assembly oral reply 2

Source: Republic of South Africa (video statements-2)

https://www.youtube.com/watch?v=WCoSPsLL-zg

MIL OSI Video –

May 15, 2025

MIL-OSI Video: Deputy President Paul Mashatile National Assembly oral reply 3

Source: Republic of South Africa (video statements-2)

https://www.youtube.com/watch?v=F_MBk7vniOI

MIL OSI Video –

May 15, 2025

MIL-OSI Video: Minister Khumbudzo Ntshavheni replies to oral questions to Cluster 1A:Peace and Security in the NCOP

Source: Republic of South Africa (video statements-2)

Minister Khumbudzo Ntshavheni replies to oral questions to Cluster 1A: Peace and Security in the NCOP.

https://www.youtube.com/watch?v=eY6nJYes968

MIL OSI Video –

May 15, 2025

MIL-OSI: Bitdeer Reports Unaudited Financial Results for the First Quarter of 2025

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, May 15, 2025 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for Bitcoin mining, today released its unaudited financial results for the first quarter ended March 31, 2025.

Q1 2025 Financial Highlights
All amounts compared to Q1 2024 unless otherwise noted

Total revenue was US$70.1 million vs. US$119.5 million.
Cost of revenue was US$73.4 million vs. US$85.4 million.
Gross profit was negative US$3.2 million vs. positive US$34.1 million.
Net income was US$409.5 million vs. US$0.6 million.
Adjusted EBITDA¹ was negative US$56.1 million, vs. positive US$27.3² million.
Cash and cash equivalents were US$215.6 million as of March 31, 2025.
Crypto balance: US$131.1 million as of March 31, 2025.

Management Commentary

“This quarter marked the continued execution of our SEALMINER roadmap,” said Matt Kong, Chief Business Officer at Bitdeer. “We have energized 3.7 EH/s and 0.5 EH/s of SEALMINER A1 and SEALMINER A2, respectively, bringing our self-mining hashrate to 12.4 EH/s by the end of April. With our SEALMINER mining rigs quickly coming off the production line and ample global power capacity available, we expect to achieve rapid growth in our self-mining hashrate towards our 40 EH/s target by October 2025. Looking ahead, our R&D efforts are now focused on our SEALMINER A4 project, for which we are targeting an unprecedent chip efficiency of approximately 5 J/TH at the chip level. We believe this new chip design will revolutionize the way Bitcoin mining ASICs are made in the future and tape-out is on track for Q4 2025. We believe SEALMINER A4, along with our 3rd generation chip, will position Bitdeer as the leading supplier of the world’s most energy efficient mining rigs.”

Mr. Kong concluded, “On the energy front, construction of our global power infrastructure remains on schedule. We expect to have nearly 1.6 GW of available global power capacity by the end of Q2 2025 and 1.8 GW by year-end. As part of our HPC/AI initiative, we engaged Northland Capital Markets in March to serve as our financial advisor for the development of our HPC/AI data center strategy. We have advanced our discussions with development partners and potential end users regarding selected large-scale sites in the U.S. targeted for HPC and AI cloud infrastructure.”

Operational Summary

Metrics	Three Months Ended Mar 31
	2025	2024
Total hash rate under management (EH/s)	24.2	22.5
– Proprietary hash rate	12.1	8.4
– Self-mining	11.5	6.7
– Cloud Hash Rate	–	1.7
– Delivered but not yet hashing	0.6	–
– Hosting	12.1	14.1
Mining rigs under management	175,000	226,000
– Self-owned	97,000	86,000
– Hosted	78,000	140,000
Bitcoin mined (self-mining only)	350	911
Bitcoins held	1,156	58
Total power usage (MWh)	881,000	1,361,000
Average cost of electricity ($/MWh)	48	43
Average miner efficiency (J/TH)	29.0	31.7

Power Infrastructure Summary (as of April 30, 2025)

Site / Location	Capacity (MW)	Status	Timing³
Electrical capacity
– Rockdale, Texas	563	Online	Completed
– Knoxville, Tennessee	86	Online	Completed
– Wenatchee, Washington	13	Online	Completed
– Molde, Norway	84	Online	Completed
– Tydal, Norway	120	Online	Completed
– Gedu, Bhutan	100	Online	Completed
– Jigmeling, Bhutan	132	Online	Completed
Total electrical capacity	1,098
Pipeline capacity
– Tydal, Norway Phase 2	105	In progress	Q2 2025
– Massillon, Ohio	221	In progress	Q3-Q4 2025
– Clarington, Ohio Phase 1	266	Paused	TBD
– Clarington, Ohio Phase 2	304	Pending approval	TBD
– Jigmeling, Bhutan	368	In progress	Q2 2025
– Rockdale, Texas	179	In planning	Estimate 2026
– Alberta, Canada	99	In planning	Q4 2026
– Oromia Region, Ethiopia	50	In planning	Q4 2025
Total pipeline capacity	1,592
Total global electrical capacity	2,690

Financial MD&A
All variances are current quarter compared to the same quarter last year. All figures in this section are rounded⁴.

Q1 2025 High-Level P&L and Disaggregated Revenue Details:

US $ in millions	Three Months Ended
	March 31, 2025	Dec 31, 2024	March 31, 2024
Total revenue	70.1	69.0	119.5
Cost of revenue	(73.4)	(63.9)	(85.4)
Gross profit/(loss)	(3.2)	5.1	34.1
Net profit/(loss)	409.5	(531.9)	0.6
Adjusted EBITDA	(56.1)	(3.8)	27.3²
Cash and cash equivalents	215.6	476.3	118.5

US $ in millions	Three Months Ended Mar 31, 2025
Business lines	Self-Mining	Cloud Hash Rate	General Hosting	Membership Hosting	Sales of SEALMINERs
Revenue	37.2	0.1	9.6	16.3	4.1
Cost of revenue
– Electricity cost in operating mining rigs	(24.0)	–	(6.8)	(11.4)	–
– Depreciation and SBC expenses	(13.7)	(0.1)	(1.5)	(2.6)	–
– Cost of products sold	–	–	–	–	(3.3)
– Other cash costs	(3.4)	–	(0.9)	(1.5)	–
Total cost of revenue	(41.0)	(0.1)	(9.1)	(15.4)	(3.3)
Gross profit/(loss)	(3.8)	–	0.5	0.9	0.8

US $ in millions	Three Months Ended Mar 31, 2024
Business lines	Self-Mining	Cloud Hash Rate	General Hosting	Membership Hosting	Sales of SEALMINERs
Revenue	48.4	18.1	29.0	19.5	–
Cost of revenue
– Electricity cost in operating mining rigs	(26.2)	(5.3)	(14.0)	(13.1)	–
– Depreciation and SBC expenses	(8.7)	(3.2)	(3.0)	(2.0)	–
– Other cash costs	(2.7)	(1.0)	(1.6)	(1.1)	–
Total cost of revenue	(37.6)	(9.6)	(18.6)	(16.2)	–
Gross profit	10.8	8.5	10.3	3.2	–

Q1 2025 Management’s Discussion and Analysis (compared to Q1 2024)

Revenue

Total revenue was US$70.1 million vs. US$119.5 million.
Self-mining revenue was US$37.2 million vs. US$48.4 million, primarily due to the effect of the April 2024 halving and higher global network hashrate, partially offset by the increase in the average self-mining hashrate for the quarter by 44.8% to 9.7 EH/s from 6.7 EH/s last year and higher year-over-year Bitcoin prices.
Cloud Hash Rate revenue was US$0.1 million vs. US$18.1 million. The decline was primarily due to expiration of long-term Cloud Hashrate contracts and subsequent reallocation of nearly all machines to self-mining operations by the end of 2024.
General Hosting revenue was US$9.6 million vs. US$29.0 million. The decline was primarily due to the expiration of certain hosting customer contracts as well as the removal of older and less efficient machines by other hosting customers following the April 2024 halving as a result of reduced mining economics.
Membership Hosting revenue was US$16.3 million vs. US$19.5 million. Similar to general hosting, the decline was primarily driven by customers scaling down operations for older and less efficient rigs following the April 2024 halving as a result of reduced mining economics.
SEALMINER sales revenue was US$4.1 million.

Cost of Revenue

Cost of revenue was US$73.4 million vs US$85.4 million. The decrease was primarily driven by lower power usage from hosted mining rigs, partially offset by the increase in costs of SEALMINERs sold to customers and depreciation expenses for SEALMINER launched in our datacenters during Q1 2025.

Gross Profit and Margin

Gross profit was negative US$3.2 million vs. positive US$34.1 million.
Gross margin was -4.6% vs. 28.6%.

Operating Expenses

The sum of the operating expenses below was US$75.8 million vs. US$37.8 million.
- Selling expenses were US$1.4 million vs. US$1.7 million, about flat year-over-year.
- General and administrative expenses were US$15.4 million vs. US$15.0 million, about flat year-over-year.
- Research and development expenses were US$59.0 million vs. US$21.2 million, primarily due to higher R&D costs related to the one-off development and tape out costs of SEAL03 chip, higher engineering costs related to the Company’s ASIC development roadmap, and non-cash amortization expenses of intangible assets related to the acquisition of FreeChain in Q4 2024.

Other Net Gain

Other net gain was US$503.1 million primarily due to the non-cash, fair value changes of derivative liabilities, which were the US$448.7 million of gain on fair value changes for the convertible notes issued in August 2024 and November 2024 and the US$58.4 million of gain on fair value changes for the Tether warrants.

Net Income

Net income was US$409.5 million vs. US$0.6 million.

Adjusted Profit / (Loss) (Non-IFRS)⁵

Adjusted loss was US$89.8 million vs. adjusted profit of US$9.7² million. The change was primarily due to the year-over-year revenue decline, lower gross profit margins and higher R&D expenses as described above.

Adjusted EBITDA (Non-IFRS)

Adjusted EBITDA was negative US$56.1 million vs. positive US$27.3² million. The decrease was primarily due to the year-over-year revenue decline, lower gross profit margins as a result of the halving and higher R&D expenses as described above.

Cash Flows

Net cash used in operating activities was US$284.0 million, primarily driven by working capital payments to suppliers for SEALMINER mass production.
Net cash used in investing activities was US$73.6 million, which included US$45.7 million of capital expenditures for infrastructure construction and mining rigs, US$18.2 million for the purchase of cryptocurrencies, US$21.9 million to acquire the site and gas-fired power project in Alberta, and US$12.3 million of proceeds from disposal of cryptocurrencies from principal business.
Net cash generated from financing activities was US$94.9 million, primarily driven by US$118.4 million net proceeds from issuance of ordinary shares and partially offset by US$21.0 million used for share repurchases.

Capex

2025 power and datacenter infrastructure capex lowered to be in the range of US$260 to US$290 million from prior guidance of US$340 to US$370 million primarily due to the pause of bitcoin-mining infrastructure construction at Bitdeer’s Clarington, Ohio site due to advancing discussions with development partners and potential end users for HPC/AI. This updated range includes reported infrastructure capex in Q1.

Balance Sheet
As of March 31, 2025 unless stated otherwise (compared to December 31, 2024)

US$215.6 million in cash and cash equivalents, US$131.1 million in cryptocurrencies and US$215.4 million in borrowing.
US$381.7 million prepayments and other assets, up from US$310.2 million. Change primarily driven by advanced payments to suppliers for SEALMINER mass volume production.
US$153.7 million inventories, up from US$64.9 million. Increase driven by wafers, chips, WIP and finished SEALMINER inventory.
US$256.8 million derivative liabilities mainly due to the issuance of warrants to Tether, and convertible senior notes issued in August 2024 and November 2024.

Further information regarding the Company’s first quarter 2025 financial and operations results can be found on the SEC’s website https://sec.gov and the Company’s Investor Relations website https://ir.bitdeer.com.

About Bitdeer Technologies Group
Bitdeer is a world-leading technology company for Bitcoin mining. Bitdeer is committed to providing comprehensive Bitcoin mining solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, please visit https://ir.bitdeer.com/ or follow Bitdeer on X @BitdeerOfficial and LinkedIn @ Bitdeer Group.

Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.

Forward-Looking Statements
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward- looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

BITDEER GROUP UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

	As of March 31,		As of December 31,
(US $ in thousands)	2025		2024
ASSETS
Current assets
Cash and cash equivalents	215,642		476,270
Restricted cash	12,107		9,144
Cryptocurrencies	131,144		77,537
Trade receivables	10,263		9,627
Amounts due from a related party	15,810		15,512
Prepayments and other assets	335,071		291,929
Inventories	153,740		64,888
Financial assets at fair value through profit or loss	4,540		4,540
Total current assets	878,317		949,447

Non-current assets
Restricted cash	5,906		8,212
Prepayments and other assets	46,652		18,244
Financial assets at fair value through profit or loss	35,428		37,981
Mining rigs	101,581		67,324
Right-of-use assets	75,338		69,273
Property, plant and equipment	302,210		251,377
Investment properties	30,529		30,723
Intangible assets	78,303		83,235
Goodwill	35,818		35,818
Deferred tax assets	8,543		6,220
Total non-current assets	720,308		608,407
TOTAL ASSETS	1,598,625		1,557,854

LIABILITIES
Current liabilities
Trade payables	50,729		31,471
Other payables and accruals	38,098		40,617
Amounts due to a related party	7,788		8,747
Income tax payables	2,437		2,729
Derivative liabilities	256,775		763,939
Deferred revenue	61,016		39,029
Borrowings	215,436		208,127
Lease liabilities	6,895		5,460
Total current liabilities	639,174		1,100,119

Non-current liabilities
Other payables and accruals	1,786		1,650
Deferred revenue	68,449		90,200
Lease liabilities	78,846		72,673
Deferred tax liabilities	15,721		16,614
Total non-current liabilities	164,802		181,137
TOTAL LIABILITIES	803,976		1,281,256

NET ASSETS	794,649		276,598

EQUITY
Share capital	*		*
Treasury equity	(181,065	)	(160,926	)
Accumulated deficit	(239,531	)	(649,004	)
Reserves	1,215,245		1,086,528
TOTAL EQUITY	794,649		276,598

* Amount less than US$1,000

BITDEER GROUP UNAUDITED CONSOLIDATED OPERATIONS AND COMPREHENSIVE INCOME

	Three months ended March 31,
(US $ in thousands)	2025		2024

Revenue	70,128		119,506
Cost of revenue	(73,353	)	(85,375	)
Gross profit / (loss)	(3,225	)	34,131
Selling expenses	(1,393	)	(1,690	)
General and administrative expenses	(15,389	)	(14,969	)
Research and development expenses	(59,014	)	(21,164	)
Other operating income / (expenses)	(7,789	)	1,746
Other net gain	503,050		2,447
Profit from operations	416,240		501
Finance income / (expenses)	(9,343	)	151
Profit before taxation	406,897		652
Income tax benefit / (expenses)	2,576		(46	)
Profit for the period	409,473		606
Other comprehensive income
Income for the period	409,473		606
Other comprehensive income for the period
Item that may be reclassified to profit or loss
Exchange differences on translation of financial statements	166		32
Other comprehensive income for the period, net of tax	166		32
Total comprehensive income for the period	409,639		638

Earnings / (loss) per share (in US$)
Basic	2.15		0.01
Diluted	(0.37	)	0.01
Weighted average number of shares outstanding (thousand shares)
Basic	190,199		114,843
Diluted	228,561		117,041

BITDEER GROUP UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Three months ended March 31,
(US $ in thousands)	2025		2024

Cash flows from operating activities
Cash used in operating activities:	(280,889	)	(132,867	)
Interest paid on leases	(702	)	(652	)
Interest paid on borrowings	(4,493	)	(465	)
Interest received	2,724		1,813
Income tax paid	(628	)	–
Net cash used in operating activities	(283,988	)	(132,171	)

Cash flows from investing activities
Purchase of property, plant and equipment, investment properties and intangible assets	(44,770	)	(29,615	)
Purchase of mining rigs	(955	)	(1,560	)
Purchase of financial assets at fair value through profit or loss	(132	)	(992	)
Purchase of cryptocurrencies	(18,159	)	–
Proceeds from disposal of cryptocurrencies	12,283		90,380
Cash paid for the site and gas-fired power project in Alberta, Canada	(21,870	)	–
Net cash generated from / (used in) investing activities	(73,603	)	58,213

Cash flows from financing activities
Capital element of lease rentals paid	(1,942	)	(1,338	)
Proceeds from issuance of shares for exercise of share rewards	530		37
Proceeds from issuance of ordinary shares, net of transaction costs	118,403		49,931
Payment for the future issuance cost	–		(303	)
Acquisition of treasury shares	(21,010	)	–
Payment for transaction costs in connection with convertible senior notes	(1,119	)	–
Net cash generated from financing activities	94,862		48,327

Net decrease in cash and cash equivalents	(262,729	)	(25,631	)
Cash and cash equivalents at the beginning of the period	476,270		144,729
Effect of movements in exchange rates on cash and cash equivalents held	2,101		(637	)
Cash and cash equivalents at the end of the period	215,642		118,461

Use of Non-IFRS Financial Measures
In evaluating the Company’s business, the Company considers and uses non-IFRS measures, adjusted EBITDA and adjusted profit / (loss), as supplemental measures to review and assess its operating performance. The Company defines adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, further adjusted to exclude share-based payment expenses under IFRS 2, changes in fair value of derivative liabilities, and changes in fair value of cryptocurrency-settled receivables and payables, and defines adjusted profit/(loss) as profit/(loss) adjusted to exclude share-based payment expenses under IFRS 2, changes in fair value of derivative liabilities, and changes in fair value of cryptocurrency-settled receivables and payables.

The Company presents these non-IFRS financial measures because they are used by its management to evaluate its operating performance and formulate business plans. The Company also believes that the use of these non-IFRS measures facilitate investors’ assessment of its operating performance. These measures are not necessarily comparable to similarly titled measures used by other companies. As a result, investors should not consider these measures in isolation from, or as a substitute analysis for, the Company’s profit or loss for the periods, as determined in accordance with IFRS. The Company compensates for these limitations by reconciling these non-IFRS financial measures to the nearest IFRS performance measure, all of which should be considered when evaluating its performance. The Company encourages investors to review its financial information in its entirety and not rely on a single financial measure.

The following table presents a reconciliation of profit/(loss) for the relevant period to adjusted EBITDA and adjusted profit/ (loss), for the three months ended March 31, 2025 and 2024.

BITDEER GROUP UNAUDITED NON-IFRS ADJUSTED EBITDA AND ADJUSTED PROFIT / (LOSS) RECONCILIATION

	Three months ended March 31,
(US $ in thousands)	2025		2024
Adjusted EBITDA
Profit for the period	409,473		606
*Add*：
Depreciation and amortization	25,387		18,187
Income tax (benefit) / expenses	(2,576	)	46
Interest (income) / expense, net	10,880		(608	)
Share-based payment expenses	10,404		7,803
Changes in fair value of derivative liabilities	(507,162	)	–
Changes in fair value of cryptocurrency-settled receivables and payables	(2,551	)	1,305
Total of Adjusted EBITDA	(56,145	)	27,339²

Adjusted Profit / (loss)
Profit for the period	409,473		606
*Add*：
Share-based payment expenses	10,404		7,803
Changes in fair value of derivative liabilities	(507,162	)	–
Changes in fair value of cryptocurrency-settled receivables and payables	(2,551	)	1,305
Total of Adjusted Profit / (loss)	(89,836	)	9,714²

For investor and media inquiries, please contact:

Investor Relations
Yujia Zhai
Orange Group
bitdeerIR@orangegroupadvisors.com

Public Relations
Nishant Sharma
BlocksBridge Consulting
bitdeer@blocksbridge.com

____________________________¹ “Adjusted EBITDA” is defined as earnings before interest, taxes, depreciation and amortization, further adjusted to exclude share-based payment expenses under IFRS 2, changes in fair value of derivative liabilities, and changes in fair value of cryptocurrency-settled receivables and payables.
² During the current period, we revised definition of our previously reported non-IFRS Adjusted Profit and Adjusted EBITDA and recast the prior period for comparability. This revision, which resulted in a US$1.3 million revision to Q1 2024 metrics, reflects non-cash fair value changes in cryptocurrency-settled receivables and payables as they do not represent normal operating expenses (or income) necessary to operate our business.
³ Indicative timing. All timing references are to calendar quarters and years.
⁴ Figures may not add due to rounding.
⁵ “Adjusted profit/(loss)” is defined as profit/(loss) adjusted to exclude share-based payment expenses under IFRS 2, changes in fair value of derivative liabilities, and changes in fair value of cryptocurrency-settled receivables and payables.

The MIL Network –

May 15, 2025

MIL-OSI Economics: Samsung ‘Galaxy empowered’ launches Immersive Programme for Bhutan’s Teaching Community

Source: Samsung

The ‘Galaxy empowered’ Community from Bhutan

Samsung, India’s largest consumer electronics brand, is welcoming passionate educators from remote corners of Bhutan into its growing community, ‘Galaxy empowered’, a one-of-a-kind community-led programme designed to transform education by empowering teachers, principals, and administrators in the education sector.

‘Galaxy empowered’, which aims to prepare teachers for the classrooms of tomorrow through recurring on-ground and online learning events, was launched in India in December 2024. Now, through immersive workshops and collaborative learning, Bhutanese teachers are also part of the movement that is redefining classrooms with technology and innovation.

Samsung organised a ‘Galaxy empowered’ immersion programme for these educators, many of whom serve in remote and underserved communities in Bhutan, at its Executive Business Centre (EBC) in Gurugram. During the immersion programme, teachers gained hands-on experience with the Galaxy ecosystem, including Galaxy smartphones, Galaxy Books, Tablets, flipboards, and displays.

In addition, they were introduced to Samsung’s latest innovations in education, including Galaxy devices and Galaxy AI applications tailored for modern, inclusive teaching. This was facilitated in partnership with the Teacher and Educational Leadership Division (TELD), Department of School Education, Ministry of Education and Skills Development, Bhutan.

“I had never used an interactive whiteboard before. Seeing it in action gave me so many ideas for making lessons more engaging for my students,” said Khandu, teacher at Wangdue Primary School.

Innovation spreading smiles across

The Immersion Programme at Samsung Regional Headquarter witnessed the participation of educators from various schools across Bhutan, including Khandothang Primary School (Samtse), Pelrithang Higher Secondary School (Gelephu, Sarpang), Lobesa Lower Secondary School (Punakha Dzongkhag), Yoechen Central School (Pema Gatshel), Phuentsholing Primary School (Phuentsholing Thromde), and Chhukha Dzongkhag, among others.

“The technology we saw today showed how classrooms can become more exciting and student-friendly. I am thinking about how we can try small changes in our own schools,” said Ghana Shyam Dhungana, Academic Head at Pelrithang Higher Secondary School (Gelephu, Sarpang).

As a global leader in technology, Samsung is dedicated to transforming the future of education by developing future-ready classrooms that empower teachers to integrate the latest technology and modern teaching methodologies. Through initiatives such as ‘Galaxy empowered’, Samsung not only supports educators but also helps schools emerge as leaders in educational innovation.

Taking a glance into the future

“At Samsung, we understand that empowering a teacher is about inspiring a transformation that turns classrooms into vibrant spaces of curiosity, creativity, and connection. Through ‘Galaxy empowered’, we aim to ignite a spark that shapes the minds of future generations. We are proud to see this programme expand its reach beyond India, evolving into a global platform for learning and collaboration,” said a Samsung India spokesperson.

The ‘Galaxy empowered’ programme is offered free of charge to both teachers and schools, ensuring that valuable resources for educational advancement are accessible without financial constraints. It offers no-cost online training, self-paced courses on the Galaxy empowered site, and physical boot camps.

“This visit reminded me that technology is not only for big cities. With the right support, even remote schools can benefit from these innovations,” said Pema Dorji, Officiating Principal at Jigmeling Primary School (Tang, Bumthang).

In India, under the umbrella of ‘Galaxy empowered’, over 4,800 teachers from more than 250 schools have been awarded certificates since December 2024. The programme aims to empower 20,000 teachers across 600 schools of India by 2025.

MIL OSI Economics –

May 15, 2025

MIL-OSI Global: Where do cuts to USAID leave the future of foreign aid in Africa? Podcast

Source: The Conversation – UK – By Gemma Ware, Host, The Conversation Weekly Podcast, The Conversation

Three months after the Trump administration made drastic cuts to its aid agency, USAID, the effects are being felt across the world, particularly in Africa.

Donald Trump has long been a critic of foreign aid, arguing that it’s not aligned with American interests. But he is by no means the first person to criticise the aid industry. Debates about the effectiveness of foreign aid have rumbled on for decades, taking in everything from the way development assistance is distributed, to what happens to countries which become dependent on it.

In this episode of The Conversation Weekly podcast, we speak to Bright Simons, an African aid expert and visiting senior fellow at ODI Global, about where the decimation of USAID leaves the debate about the future of development assistance.

Bright Simons tells The Conversation that in broad terms, USAID spending in Africa is pretty small: “It’s about US$12 billion (£9 billion) roughly, so you’re talking about less than 0.5% of GDP in Africa.”

A lot of the aid spending on the continent was targeted at life-saving programmes in specific programmes, for example HIV programmes in Nigeria and Uganda. At the same time, some countries such as South Sudan or Rwanda rely heavily on aid. “ It’s not the same picture all across the continent, but there were specific spots that were very badly hit,” says Simons.

The USAID cuts come amid a general reduction in overseas development assistance by 7% in 2024 compared to 2023, the first fall in five years. The UK government has also announced its intention to reduce the percentage of gross national income it spends on aid from 0.5% to 0.3% from 2027.

No learning curve

Simons believes the crisis in aid is bigger than Trump. He’s critical of the lack of accountability in the way aid is spent both through the western model of development spending and through the more transactional approach of countries such as Russia, India or the United Arab Emirates. He argues that policies and programmes are often put in place and promoted with little scrutiny on the ground, and weak oversight on the way they’re delivered.

“ You don’t have a learning curve to get out of aid because you don’t know enough about what is working, what is not working, why it’s working, why it’s not working to chart a path that gets you away from that dependency,” says Simons.

Simons suggests that aid delivered through multilateral institutions does have advantages over bilateral agreements between countries. “ In theory, there is room for that kind of accountability. Whether or not you are allowed to actually exercise it as a different matter,” he says.

However, Simons suggests one response to the current reduction in foreign aid could be for multilateral institutions to borrow more money from capital markets and lend it on to low-income countries.

Listen to Simons talk about the history and future of aid on The Conversation Weekly podcast. The episode also includes an introduction with Adejuwon Soyinka, West Africa editor at The Conversation Africa.

This episode of The Conversation Weekly was written and produced by Mend Mariwany and Gemma Ware. Mixing and sound design by Eloise Stevens and theme music by Neeta Sarl.

Newsclips in this episode from CBS News, CBS Evening News and DW News.

Listen to The Conversation Weekly via any of the apps listed above, download it directly via our RSS feed or find out how else to listen here. A transcript of this episode is available on Apple Podcasts.

Bright Simons is Honorary Vice-President at IMANI, a think tank in Ghana. He is President of mPedigree, a technology social enterprise.

– ref. Where do cuts to USAID leave the future of foreign aid in Africa? Podcast – https://theconversation.com/where-do-cuts-to-usaid-leave-the-future-of-foreign-aid-in-africa-podcast-256608

MIL OSI – Global Reports –

May 15, 2025

MIL-OSI: SHELL PLC – REPORT ON PAYMENTS TO GOVERNMENTS FOR THE YEAR 2024

Source: GlobeNewswire (MIL-OSI)

Shell plc – Report on Payments to Governments for the year 2024

Basis for preparation – Report on Payments to Governments for the year 2024
This Report provides a consolidated overview of the payments to governments made by Shell plc and its subsidiary undertakings (hereinafter referred to as “Shell”) for the year 2024 as required under the UK’s Reports on Payments to Governments Regulations 2014 (as amended in December 2015). These UK Regulations enact domestic rules in line with Directive 2013/34/EU (the EU Accounting Directive (2013)) and apply to large UK incorporated companies like Shell that are involved in the exploration, prospection, discovery, development and extraction of minerals, oil, natural gas deposits or other materials. This Report is also filed with the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism) intended to satisfy the requirements of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority in the United Kingdom. This Report is also published pursuant to article 5:25e of the Dutch FMSA (Wft) and is furnished with the US Securities and Exchange Commission (“SEC”) according to Section 13(q) under the US Securities Exchange Act of 1934.

This Report is available for download from www.shell.com/payments.

Legislation
This Report is prepared in accordance with The Reports on Payments to Governments Regulations 2014 as enacted in the UK in December 2014 and as amended in December 2015.

Reporting entities
This Report includes payments to governments made by Shell plc and its subsidiary undertakings (Shell). Payments made by entities where Shell has joint control are excluded from this Report.

Activities
Payments made by Shell to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals, oil and natural gas deposits or other materials (extractive activities) are disclosed in this Report. It excludes payments related to refining, natural gas liquefaction or gas-to-liquids activities. For a fully integrated project, which does not have an interim contractual cut-off point where a value can be attached or ascribed separately to the extractive activities and to other processing activities, payments to governments are not artificially split but are disclosed in full.

Government
Government includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government, including a national oil company.

Project
Payments are reported at project level, except those payments that are not attributable to a specific project which are reported at entity level. Project is defined as operational activities which are governed by a single contract, licence, lease, concession or similar legal agreement, and form the basis for payment liabilities with a government. If such agreements are substantially interconnected, those agreements are to be treated as a single project.

“Substantially interconnected” means forming a set of operationally and geographically integrated contracts, licences, leases or concessions or related agreements with substantially similar terms that are signed with a government giving rise to payment liabilities. Such agreements can be governed by a single contract, joint venture, production sharing agreement or other overarching legal agreement. Indicators of integration include, but are not limited to, geographic proximity, the use of shared infrastructure and common operational management.

Payment
The information is reported under the following payment types:

Production entitlements
These are the host government’s share of production in the reporting period derived from projects operated by Shell. This includes the government’s share as a sovereign entity or through its participation as an equity or interest holder in projects within its sovereign jurisdiction (home country). Production entitlements arising from activities or interests outside of its home country are excluded.

In certain contractual arrangements, typically a production sharing contract, a government through its participation interest may contribute funding of capital and operating expenditure to projects, from which it derives production entitlement to cover such funding (cost recovery). Such cost recovery production entitlement is included.

In situations where a government settles Shell’s income tax obligation on behalf of Shell by utilising its share of production entitlements (typically under a tax-paid concession), such amount will be deducted from the reported production entitlement.

Taxes
These are taxes paid by Shell on its income, profits or production (which include resource severance tax and petroleum resource rent tax), including those settled by a government on behalf of Shell under a tax-paid concession. Payments are reported net of refunds. Consumption taxes, personal income taxes, sales taxes, property and environmental taxes are excluded.

Royalties
These are payments for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken.

Dividends
These are dividend payments other than dividends paid to a government as an ordinary shareholder of an entity unless paid in lieu of production entitlements or royalties. For the year ended December 31, 2024, there were no reportable dividend payments to a government.

Bonuses
These are payments for bonuses. These are usually paid upon signing an agreement or a contract, or when a commercial discovery is declared, or production has commenced, or production has reached a milestone.

Licence fees, rental fees, entry fees and other considerations for licences and/or concessions
These are fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector, or to access to extractive resources, are excluded. Also excluded are payments made in return for services provided by a government.

Infrastructure improvements
These are payments which relate to the construction of infrastructure (road, bridge or rail) not substantially dedicated for the use of extractive activities. Payments which are a social investment in nature, for example building of a school or hospital, are excluded.

Other
Operatorship
When Shell makes a payment directly to a government arising from a project, regardless of whether Shell is the operator, the full amount paid is disclosed even where Shell as the operator is proportionally reimbursed by its non-operating venture partners through a partner billing process (cash-call).

When a national oil company is the operator of a project to whom Shell makes a reportable payment, which is distinguishable in the cash-call, it is included in this Report.

Cash and in-kind payments
Payments are reported on a cash basis. In-kind payments are converted to an equivalent cash value based on the most appropriate and relevant valuation method for each payment, which can be at cost or market value, or such value as stated in the contract. In-kind payments are reported in both volumes and the equivalent cash value.

Materiality level
For each payment type, total payments below £86,000 to a government are excluded from this Report.

Exchange rate
Payments made in currencies other than US dollars are translated for this Report based on the foreign exchange rate at the relevant quarterly average rate.

Report on Payments to Governments [1]

Summary report (in USD)
Countries	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Europe
Germany	–	243,935,441	–	–	–	–	243,935,441
Italy	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631
Norway	2,083,221,642	1,300,962,023	–	–	122,391	–	3,384,306,056
United Kingdom	–	-16,649,747	–	–	11,483,529	–	-5,166,218
Asia
Brunei	3,983,642	44,229,620	8,660,091	–	–	–	56,873,353
China	–	10,343,616	–	–	–	–	10,343,616
India	–	-17,715,638	–	–	–	–	-17,715,638
Kazakhstan	–	242,741,780	–	–	–	–	242,741,780
Malaysia	2,317,002,807	305,924,901	500,008,822	–	–	–	3,122,936,530
Middle East
Oman	633,711,368	3,954,062,451	–	–	900,000	–	4,588,673,819
Qatar	1,801,453,896	1,507,244,066	–	–	30,538,723	–	3,339,236,685
Oceania
Australia	–	1,277,737,693	468,579,450	–	13,412,457	266,428	1,759,996,028
Africa
Egypt	–	41,164,348	–	1,836,435	–	–	43,000,783
Nigeria	3,804,949,166	648,734,398	780,231,463	–	102,925,166	–	5,336,840,193
Sao Tome and Principe	–	–	–	1,300,000	–	–	1,300,000
Tanzania	–	–	–	–	140,000	–	140,000
Tunisia	–	24,904,580	4,941,633	–	–	–	29,846,213
North America
Canada	–	172,567,072	4,697,991	–	1,423,783	–	178,688,846
Mexico	–	–	–	–	21,527,002	–	21,527,002
USA	–	53,238,500	1,187,594,021	–	80,678,527	860,822	1,322,371,870
South America
Argentina	53,082,051	1,984,309	143,969,668	–	123,276	–	199,159,304
Brazil	327,688,819	656,740,954	1,147,687,680	9,540,351	1,556,282,443	–	3,697,940,247
Colombia	–	–	–	–	489,880	–	489,880
Trinidad and Tobago	362,690,585	561,771	2,210,566	300,000	13,719,070	–	379,481,992
Total	11,387,783,976	10,456,840,201	4,322,795,167	12,976,786	1,913,987,033	1,127,250	28,095,510,413

[1] The figures in this Report are rounded.

Germany

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
FEDERAL CENTRAL TAX OFFICE	–	294,891,077	–	–	–	–	294,891,077
MUNICIPALITY OF COLOGNE	–	-2,763,591	–	–	–	–	-2,763,591
MUNICIPALITY OF DINSLAKEN	–	-386,534	–	–	–	–	-386,534
MUNICIPALITY OF GELSENKIRCHEN	–	-483,145	–	–	–	–	-483,145
MUNICIPALITY OF OSTSTEINBEK	–	584,685	–	–	–	–	584,685
MUNICIPALITY OF WESSELING	–	-3,943,262	–	–	–	–	-3,943,262
TAX AUTHORITY HAMBURG	–	-43,963,789	–	–	–	–	-43,963,789
Total	–	243,935,441	–	–	–	–	243,935,441

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Entity level payment
DEUTSCHE SHELL HOLDING GmbH	–	243,935,441	–	–	–	–	243,935,441
Total	–	243,935,441	–	–	–	–	243,935,441

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Italy

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
CALVELLO MUNICIPALITY	–	–	884,083	–	–	–	884,083
CORLETO PERTICARA MUNICIPALITY	–	–	1,964,671	–	–	–	1,964,671
GORGOGLIONE MUNICIPALITY	–	–	302,257	–	–	–	302,257
GRUMENTO NOVA MUNICIPALITY	–	–	505,190	–	–	–	505,190
MARSICO NUOVO MUNICIPALITY	–	–	378,893	–	–	–	378,893
MARSICOVETERE MUNICIPALITY	–	–	126,298	–	–	–	126,298
MONTEMURRO MUNICIPALITY	–	–	126,298	–	–	–	126,298
REGIONE BASILICATA	–	–	44,157,199	–	79,302,465	–	123,459,664
TESORERIA PROVINICIALE DELLO STATO	–	4,128,063	22,264,135	–	718,305	–	27,110,503
VIGGIANO MUNICIPALITY	–	–	3,504,758	–	200,016	–	3,704,774
Total	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
ITALY UPSTREAM ASSET	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631
Total	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Norway

Government report (in USD) [1]
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
EQUINOR ASA	853,946,278	[A]	–	–	–	–	–	853,946,278
PETORO AS	1,229,275,364	[B]	–	–	–	–	–	1,229,275,364
SKATTEETATEN	–		1,300,962,023	–	–	–	–	1,300,962,023
SOKKELDIREKTORATET	–		–	–	–	122,391	–	122,391
Total	2,083,221,642		1,300,962,023	–	–	122,391	–	3,384,306,056

Project report (in USD)
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
ORMEN LANGE	2,083,221,642	[C]	–	–	–	–	–	2,083,221,642
Entity level payment
A/S NORSKE SHELL	—		1,300,962,023	–	–	122,391	–	1,301,084,414
Total	2,083,221,642		1,300,962,023	–	–	122,391	–	3,384,306,056

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $853,946,278 for 12,291 thousand barrels of oil equivalent (kboe) valuated at market price.

[B] Includes payment in kind of $1,229,275,364 for 17,693 kboe valuated at market price.

[C] Includes payment in kind of $2,083,221,642 for 29,984 kboe valuated at market price.

United Kingdom

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
HM REVENUE AND CUSTOMS	–	-16,649,747	–	–	–	–	-16,649,747
NORTH SEA TRANSITION AUTHORITY	–	–	–	–	11,355,210	–	11,355,210
THE CROWN ESTATE SCOTLAND	–	–	–	–	128,319	–	128,319
Total	–	-16,649,747	–	–	11,483,529	–	-5,166,218

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
BRENT AND OTHER NORTHERN NORTH SEA PROJECTS	–	-32,113,820	–	–	563,325	–	-31,550,495
ONEGAS WEST	–	–	–	–	3,232,597	–	3,232,597
UK EXPLORATION PROJECTS	–	–	–	–	1,117,783	–	1,117,783
UK OFFSHORE OPERATED	–	–	–	–	2,119,313	–	2,119,313
WEST OF SHETLAND NON-OPERATED	–	–	–	–	1,076,456	–	1,076,456
Entity level payment
SHELL U.K. LIMITED	–	15,464,073	–	–	3,374,055	–	18,838,128
Total	–	-16,649,747	–	–	11,483,529	–	-5,166,218

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Brunei

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
MINISTRY OF FINANCE AND ECONOMY	–	44,229,620	–	–	–	–	44,229,620
PETROLEUM AUTHORITY OF BRUNEI DARUSSALEM	3,983,642	–	8,660,091	–	–	–	12,643,733
Total	3,983,642	44,229,620	8,660,091	–	–	–	56,873,353

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Entity level payment
SHELL DEEPWATER BORNEO B.V.	–	39,001,133	–	–	–	–	39,001,133
SHELL EXPLORATION AND PRODUCTION BRUNEI B.V.	3,983,642	5,228,487	8,660,091	–	–	–	17,872,220
Total	3,983,642	44,229,620	8,660,091	–	–	–	56,873,353

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

China

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
TIANJIN MUNICIPAL TAXATION BUREAU	–	5,911,867	–	–	–	–	5,911,867
YULIN MUNICIPAL TAXATION BUREAU	–	4,431,749	–	–	–	–	4,431,749
Total	–	10,343,616	–	–	–	–	10,343,616

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Entity level payment
SHELL CHINA EXPLORATION AND PRODUCTION COMPANY LIMITED	–	10,343,616	–	–	–	–	10,343,616
Total	–	10,343,616	–	–	–	–	10,343,616

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

India

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
INCOME TAX DEPARTMENT	–	-17,715,638	–	–	–	–	-17,715,638
Total	–	-17,715,638	–	–	–	–	-17,715,638

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Entity level payment
BG EXPLORATION AND PRODUCTION INDIA LIMITED	–	-17,715,638	–	–	–	–	-17,715,638
Total	–	-17,715,638	–	–	–	–	-17,715,638

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Kazakhstan

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
WEST KAZAKHSTAN TAX COMMITTEE	–	242,741,780	–	–	–	–	242,741,780
Total	–	242,741,780	–	–	–	–	242,741,780

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
KARACHAGANAK	–	242,741,780	–	–	–	–	242,741,780
Total	–	242,741,780	–	–	–	–	242,741,780

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Malaysia

Government report (in USD) [1]
	Production entitlements		Taxes	Royalties		Bonuses	Fees	Infrastructure improvements	Total
Governments
BRUNEI NATIONAL PETROLEUM COMPANY SENDIRIAN BERHAD	301,048,915	[A]	–	–		–	–	–	301,048,915
LEMBAGA HASIL DALAM NEGERI	–		305,924,901	–		–	–	–	305,924,901
MALAYSIA FEDERAL AND STATE GOVERNMENTS	–		–	469,060,363	[B]	–	–	–	469,060,363
PETROLEUM SARAWAK EXPLORATION AND PRODUCTION SDN. BHD.	74,656,856	[C]	–	–		–	–	–	74,656,856
PETROLIAM NASIONAL BERHAD	990,078,563	[D]	–	30,948,459		–	–	–	1,021,027,022
PETRONAS CARIGALI SDN. BHD.	951,218,473	[E]	–	–		–	–	–	951,218,473
Total	2,317,002,807		305,924,901	500,008,822		–	–	–	3,122,936,530

Project report (in USD)
	Production entitlements		Taxes	Royalties		Bonuses	Fees	Infrastructure improvements	Total
Projects
SABAH GAS (NON-OPERATED)	–		16,208,714	3,017,327		–	–	–	19,226,041
SABAH INBOARD AND DEEPWATER OIL	1,435,194,825	[F]	158,435,164	303,452,674	[G]	–	–	–	1,897,082,663
SARAWAK OIL AND GAS	881,807,982	[H]	116,047,586	193,538,821	[I]	–	–	–	1,191,394,389
Entity level payment
SABAH SHELL PETROLEUM COMPANY LIMITED	–		4,502,043	–		–	–	–	4,502,043
SARAWAK SHELL BERHAD	–		3,394,907	–		–	–	–	3,394,907
SHELL ENERGY ASIA LIMITED	–		2,616,753	–		–	–	–	2,616,753
SHELL OIL AND GAS (MALAYSIA) LLC	–		595,653	–		–	–	–	595,653
SHELL SABAH SELATAN SENDRIAN BERHAD	–		4,124,081	–		–	–	–	4,124,081
Total	2,317,002,807		305,924,901	500,008,822		–	–	–	3,122,936,530

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $301,048,915 for 3,355 thousand barrels of oil equivalent (kboe) valuated at market price.

[B] Includes payment in kind of $342,702,511 for 3,909 kboe valuated at market price and $126,357,852 for 6,336 kboe valuated at fixed price.

[C] Includes payment in kind of $59,554,178 for 3,011 kboe valuated at fixed price and $15,102,678 for 201 kboe valuated at market price.

[D] Includes payment in kind of $783,520,240 for 8,933 kboe valuated at market price and $209,732,743 for 10,921 kboe valuated at fixed price.

[E] Includes payment in kind of $624,146,940 for 7,163 kboe valuated at market price and $327,071,533 for 16,397 kboe valuated at fixed price.

[F] Includes payment in kind of $1,435,194,825 for 15,977 kboe valuated at market price.

[G] Includes payment in kind of $297,371,578 for 3,339 kboe valuated at market price.

[H] Includes payment in kind of $596,358,454 for 30,329 kboe valuated at fixed price and $288,623,948 for 3,675 kboe valuated at market price.

[I] Includes payment in kind of $126,357,852 for 6,336 kboe valuated at fixed price and $45,330,933 for 570 kboe valuated at market price.

Oman

Government report (in USD) [1]
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
MINISTRY OF ENERGY AND MINERALS	633,711,368	[A]	–	–	–	–	–	633,711,368
MINISTRY OF FINANCE	–		3,954,062,451	–	–	900,000	–	3,954,962,451
Total	633,711,368		3,954,062,451	–	–	900,000	–	4,588,673,819

Project report (in USD)
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
BLOCK 6 CONCESSION	–		3,954,062,451	–	–	–	–	3,954,062,451
BLOCK 10 CONCESSION	633,711,368	[A]	–	–	–	400,000	–	634,111,368
BLOCK 11 CONCESSION	–		–	–	–	250,000	–	250,000
BLOCK 55 CONCESSION	–		–	–	–	250,000	–	250,000
Total	633,711,368		3,954,062,451	–	–	900,000	–	4,588,673,819

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $60,839,756 for 4,551 kboe valuated at fixed price and of $572,871,612 for 7,095 kboe valuated at the government’s selling price.

Qatar

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
QATARENERGY	1,801,453,896	1,507,244,066	–	–	30,538,723	–	3,339,236,685
Total	1,801,453,896	1,507,244,066	–	–	30,538,723	–	3,339,236,685

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
PEARL GTL	1,801,453,896	1,507,244,066	–	–	30,538,723	–	3,339,236,685
Total	1,801,453,896	1,507,244,066	–	–	30,538,723	–	3,339,236,685

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Australia

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
AUSTRALIAN TAXATION OFFICE	–	1,277,737,693	–	–	–	–	1,277,737,693
BANANA SHIRE COUNCIL	–	–	–	–	217,920	–	217,920
FEDERAL DEPARTMENT OF INDUSTRY, SCIENCE AND RESOURCES	–	–	111,989,284	–	–	–	111,989,284
QUEENSLAND REVENUE OFFICE	–	–	356,590,166	–	–	–	356,590,166
QUEENSLAND DEPARTMENT OF ENVIRONMENT AND SCIENCE	–	–	–	–	935,554	–	935,554
QUEENSLAND DEPARTMENT OF NATURAL RESOURCES AND MINES	–	–	–	–	581,472	–	581,472
RESOURCES SAFETY AND HEALTH QUEENSLAND	–	–	–	–	1,359,992	–	1,359,992
WESTERN DOWNS REGIONAL COUNCIL	–	–	–	–	10,317,519	266,428	10,583,947
Total	–	1,277,737,693	468,579,450	–	13,412,457	266,428	1,759,996,028

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
NORTH WEST SHELF	–	–	111,989,284	–	–	–	111,989,284
QGC	–	583,570,540	356,590,166	–	13,412,457	266,428	953,839,591
Entity level payment
SHELL AUSTRALIA PTY LTD	–	694,167,153	–	–	–	–	694,167,153
Total	–	1,277,737,693	468,579,450	–	13,412,457	266,428	1,759,996,028

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Egypt

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
EGYPTIAN GENERAL PETROLEUM CORPORATION	–	41,164,348	–	1,836,435	–	–	43,000,783
Total	–	41,164,348	–	1,836,435	–	–	43,000,783

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
EGYPT OFFSHORE DEVELOPMENT	–	41,164,348	–	540,000	–	–	41,704,348
Entity level payment
SHELL EGYPT N.V.	–	–	–	1,296,435	–	–	1,296,435
Total	–	41,164,348	–	1,836,435	–	–	43,000,783

[I] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Nigeria

Government report (in USD) [1]
	Production entitlements		Taxes		Royalties		Bonuses	Fees	Infrastructure improvements	Total
Governments
FEDERAL INLAND REVENUE SERVICE	–		648,734,398	[A]	–		–	–	–	648,734,398
NATIONAL AGENCY FOR SCIENCE AND ENGINEERING INFRASTRUCTURE	–		–		–		–	3,931,917	–	3,931,917
NIGER DELTA DEVELOPMENT COMMISSION	–		–		–		–	97,260,899	–	97,260,899
NIGERIAN NATIONAL PETROLEUM CORPORATION	3,804,949,166	[B]	–		–		–	–	–	3,804,949,166
NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION	–		–		780,231,463	[C]	–	1,732,350	–	781,963,813
Total	3,804,949,166		648,734,398		780,231,463		–	102,925,166	–	5,336,840,193

Project report (in USD)
	Production entitlements		Taxes		Royalties		Bonuses	Fees	Infrastructure improvements	Total
Projects
EAST ASSET	1,300,681,939	[D]	–		–		–	–	–	1,300,681,939
PSC 1993 (OML 133)	–		136,652,153	[E]	–		–	–	–	136,652,153
PSC 1993 (OPL 212/OML 118, OPL 219/OML 135)	649,948,707	[F]	303,125,852	[G]	452,170,096	[H]	–	32,015,797	–	1,437,260,452
WEST ASSET	1,854,318,520	[I]	–		–		–	–	–	1,854,318,520
Entity level payment
SHELL NIGERIA EXPLORATION AND PRODUCTION COMPANY LIMITED			–		–		–	440,468	–	440,468
THE SHELL PETROLEUM DEVELOPMENT COMPANY OF NIGERIA LIMITED			208,956,393		328,061,367			70,468,901		607,486,661
Total	3,804,949,166		648,734,398		780,231,463		–	102,925,166	–	5,336,840,193

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $439,778,005 for 5,293 kboe valuated at market price.

[B] Includes payment in kind of $3,804,949,166 for 80,289 kboe valuated at market price.

[C] Includes payment in kind of $452,170,096 for 5,432 kboe valuated at market price.

[D] Includes payment in kind of $1,300,681,939 for 49,766 kboe valuated at market price.

[E] Includes payment in kind of $136,652,153 for 1,654 kboe valuated at market price.

[F] Includes payment in kind of $649,948,707 for 7,916 kboe valuated at market price.

[G] Includes payment in kind of $303,125,852 for 3,639 kboe valuated at market price.

[H] Includes payment in kind of $452,170,096 for 5,432 kboe valuated at market price.

[I] Includes payment in kind of $1,854,318,520 for 22,607 kboe valuated at market price.

Sao Tome and Principe

	Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
AGÊNCIA NACIONAL DO PETRÓLEO DE SÃO TOMÉ E PRÍNCIPE	–	–	–	1,300,000	–	–	1,300,000
Total	–	–	–	1,300,000	–	–	1,300,000

	Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
DW BLOCK 4	–	–	–	1,300,000	–	–	1,300,000
Total	–	–	–	1,300,000	–	–	1,300,000

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Tanzania

	Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
PETROLEUM UPSTREAM REGULATORY AUTHORITY	–	–	–	–	140,000	–	140,000
Total	–	–	–	–	140,000	–	140,000

	Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
BLOCK 1 AND 4	–	–	–	–	140,000	–	140,000
Total	–	–	–	–	140,000	–	140,000

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Tunisia

	Government report (in USD) [1]
	Production entitlements	Taxes	Royalties		Bonuses	Fees	Infrastructure improvements	Total
Governments
ENTREPRISE TUNISIENNE D’ACTIVITÉS PÉTROLIÈRES	–	–	2,140,627	[A]	–	–	–	2,140,627
LE RECEVEUR DES FINANCES DU LAC	–	24,904,580	2,801,006		–	–	–	27,705,586
Total	–	24,904,580	4,941,633		–	–	–	29,846,213

	Project report (in USD)
	Production entitlements	Taxes	Royalties		Bonuses	Fees	Infrastructure improvements	Total
Projects
HASDRUBAL CONCESSION	–	24,904,580	4,941,633	[A]	–	–	–	29,846,213
Total	–	24,904,580	4,941,633		–	–	–	29,846,213

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $2,140,627 for 37 kboe valuated at market price.

Canada

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
GOVERNMENT OF ALBERTA	–	–	656,638	–	119,099	–	775,737
MINISTRY OF FINANCE (BRITISH COLUMBIA)	–	–	2,915,313	–	625,526	–	3,540,839
MINISTRY OF JOBS, ECONOMIC DEVELOPMENT AND INNOVATION (BRITISH COLUMBIA)	–	–	–	–	679,158	–	679,158
PROVINCIAL TREASURER OF ALBERTA	–	60,864,405	–	–	–	–	60,864,405
RECEIVER GENERAL FOR CANADA	–	111,702,667	1,126,040	–	–	–	112,828,707
Total	–	172,567,072	4,697,991	–	1,423,783	–	178,688,846

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
ATHABASCA OIL SANDS	–	172,567,072	–	–	–	–	172,567,072
FOOTHILLS	–	–	1,126,040	–	–	–	1,126,040
GREATER DEEP BASIN	–	–	656,638	–	119,099	–	775,737
GROUNDBIRCH	–	–	2,915,313	–	1,304,684	–	4,219,997
Total	–	172,567,072	4,697,991	–	1,423,783	–	178,688,846

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Mexico

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
FONDO MEXICANO DEL PETRÓLEO PARA LA ESTABILIZACIÓN Y EL DESARROLLO	–	–	–	–	17,154,483	–	17,154,483
SERVICIO DE ADMINISTRACIÓN TRIBUTARIA	–	–	–	–	4,372,519	–	4,372,519
Total	–	–	–	–	21,527,002	–	21,527,002

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Entity level payment
MEXICO EXPLORATION DEEPWATER	–	–	–	–	21,527,002	–	21,527,002
Total	–	–	–	–	21,527,002	–	21,527,002

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

USA

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
ALASKA DEPARTMENT OF NATURAL RESOURCES	–	–	–	–	243,408	–	243,408
COMMONWEALTH OF PENNSYLVANIA	–	-400,000	–	–	–	–	-400,000
INTERNAL REVENUE SERVICE	–	53,638,500	–	–	–	–	53,638,500
LOUISIANA DEPARTMENT OF TRANSPORTATION AND DEVELOPMENT	–	–	–	–	–	860,822	860,822
OFFICE OF NATURAL RESOURCES REVENUE	–	–	1,187,594,021	–	80,435,119	–	1,268,029,140
Total	–	53,238,500	1,187,594,021	–	80,678,527	860,822	1,322,371,870

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
ALASKA EXPLORATION	–	–	–	–	243,408	–	243,408
GULF OF AMERICA (CENTRAL)	–	–	1,076,187,269	–	282,312	–	1,076,469,581
GULF OF AMERICA (WEST)	–	–	111,406,752	–	126,720	–	111,533,472
GULF OF AMERICA EXPLORATION	–	–	–	–	80,026,087	–	80,026,087
Entity level payment
SHELL EXPLORATION AND PRODUCTION COMPANY	–	-400,000	–	–	–	–	-400,000
SHELL OFFSHORE INC.	–	–	–	–	–	860,822	860,822
SHELL PETROLEUM INC.	–	53,638,500	–	–	–	–	53,638,500
Total	–	53,238,500	1,187,594,021	–	80,678,527	860,822	1,322,371,870

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Argentina

Government report (in USD) [1]
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
AGENCIA DE RECAUDACIÓN Y CONTROL ADUANERO	–		1,984,309	–	–	–	–	1,984,309
GAS Y PETRÓLEO DEL NEUQUÉN S.A.	53,082,051	[A]	–	–	–	–	–	53,082,051
PROVINCIA DE SALTA	–		–	2,475,819	–	–	–	2,475,819
PROVINCIA DEL NEUQUÉN	–		–	141,493,849	–	123,276	–	141,617,125
Total	53,082,051		1,984,309	143,969,668	–	123,276	–	199,159,304

Project report (in USD)
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
ACAMBUCO	–		–	2,475,819	–	–	–	2,475,819
ARGENTINA UNCONVENTIONAL PROJECTS	53,082,051	[A]	1,984,309	141,493,849	–	123,276	–	196,683,485
Total	53,082,051		1,984,309	143,969,668	–	123,276	–	199,159,304

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $53,082,051 for 785 kboe valuated at market price.

Brazil

Government report (in USD) [1]
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
AGÊNCIA NACIONAL DO PETRÓLEO GÁS NATURAL E BIOCOMBUSTÍVEIS	–		–	–	9,540,351	–	–	9,540,351
MINISTÉRIO DA FAZENDA	–		–	1,147,687,680	–	1,556,282,443	–	2,703,970,123
PRÉ-SAL PETRÓLEO S.A.	327,688,819	[A]	–	–	–	–	–	327,688,819
RECEITA FEDERAL DO BRASIL	–		656,740,954	–	–	–	–	656,740,954
Total	327,688,819		656,740,954	1,147,687,680	9,540,351	1,556,282,443	–	3,697,940,247

Project report (in USD)
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
BASIN EXPLORATION PROJECTS	–		–	–	9,540,351	3,244,993	–	12,785,344
BC-10	–		–	31,254,519	–	1,251,598	–	32,506,117
BIJUPIRA AND SALEMA	–		–	–	–	501,608	–	501,608
BM-S-9, BM-S-9A, BM-S-11, BM-S-11A AND ENTORNO DE SAPINHOÁ	29,716,011	[B]	–	882,483,636	–	1,551,284,244	–	2,463,483,891
LIBRA PSC	297,972,808	[C]	–	233,949,525	–	–	–	531,922,333
Entity level payment
SHELL BRASIL PETROLEO LTDA.	–		656,740,954	–	–	–	–	656,740,954
Total	327,688,819		656,740,954	1,147,687,680	9,540,351	1,556,282,443	–	3,697,940,247

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $327,688,819 for 4,585 kboe valuated at market price.

[B] Includes payment in kind of $29,716,011 for 410 kboe valuated at market price.

[C] Includes payment in kind of $297,972,808 for 4,175 kboe valuated at market price.

Colombia

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
AGENCIA NACIONAL DE HIDROCARBUROS	–	–	–	–	489,880	–	489,880
Total	–	–	–	–	489,880	–	489,880

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
COLOMBIA EXPLORATION (OPERATED)	–	–	–	–	489,880	–	489,880
Total	–	–	–	–	489,880	–	489,880

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Trinidad and Tobago

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
MINISTRY OF FINANCE	–	561,771	–	–	–	–	561,771
MINISTRY OF ENERGY AND ENERGY INDUSTRIES	362,690,585	–	2,210,566	300,000	13,719,070	–	378,920,221
Total	362,690,585	561,771	2,210,566	300,000	13,719,070	–	379,481,992

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
BLOCK 5C	84,428,910	–	–	–	1,714,071	–	86,142,981
CENTRAL BLOCK	–	561,771	2,210,566	–	900,921	–	3,673,258
COLIBRI	120,876,414	–	–	–	3,332,208	–	124,208,622
DEEPWATER ATLANTIC AREA	–	–	–	–	537,570	–	537,570
EAST COAST MARINE AREA	99,098,428	–	–	–	2,100,156	–	101,198,584
EXPLORATION	–	–	–	300,000	2,017,530	–	2,317,530
MANATEE	–	–	–	–	847,999	–	847,999
NORTH COAST MARINE AREA 1	58,286,833	–	–	–	2,268,615	–	60,555,448
Total	362,690,585	561,771	2,210,566	300,000	13,719,070	–	379,481,992

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Cautionary note
The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this Report “Shell”, “Shell Group” and “Group” are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this Report refer to entities over which Shell plc either directly or indirectly has control. The terms “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

The MIL Network –

May 15, 2025

World Test Championship winners to get $3.6 million as ICC bumps up prize money

Source: Government of India

Source: Government of India (4)

The winners of next month’s World Test Championship (WTC) final between Australia and South Africa will take home $3.6 million following a significant increase in the prize money by the governing International Cricket Council on Thursday.

Holders Australia pocketed $1.6 million for winning the 2023 WTC final against India, who claimed $800,000 as runners-up.

The losers of the June 11-15 test at Lord’s will get $2.1 million – more than the winners’ purse in the last two WTC finals.

“The increase in prize money exhibits the ICC’s efforts to prioritise test cricket as it looks to build on the momentum of the first three cycles of the nine-team competition,” the ICC said in a statement.

Australia captain Pat Cummins said they were ready to overcome any challenge to retain their WTC title.

“We are enormously proud to have the opportunity to defend the World Test Championship, especially at Lord’s,” the paceman said.

“It’s a testament to all those involved across the past two years who have worked incredibly hard to reach the final, which is a great honour for all of us.”

Counterpart Temba Bavuma said South Africa were determined to win their maiden ICC title.

“Everyone understands the importance of test cricket and the World Test Championship lends context to this vital format of the game.

“Lord’s is a fitting venue for this mega fixture and all of us will be out there trying to give our best against Australia,” Bavuma said.

-Reuters

May 15, 2025

MIL-OSI United Kingdom: Work begins to give residents greater transport choices

Source: City of Derby

Work to create the city’s newest sustainable transport hub is underway on Osmaston Road, following the success of similar hubs elsewhere in the city.

Mobility hubs give residents greater choice when deciding how to travel, as well as making it easier to choose sustainable methods such as electric vehicles (EV), car share clubs, and cycling. The hubs are also continually monitored, helping the Council to learn more about the area’s transport needs.

Following the installation of mobility hubs in the Chaddesden and Six Streets areas, work will begin on Monday 19 May to create the latest hub, which will include:

Electric vehicle (EV) charging and dedicated parking for up to three EVs
Additional Enterprise Car Club vehicles
An accessible seating area with bike storage, designed in consultation with local businesses, ward councillors and the Police
Interactive information totem with live travel updates

Councillor Carmel Swan, Cabinet Member for Climate Change, Transport and Sustainability said:

Mobility hubs are a fantastic addition to Derby’s ever-growing transport offer, giving residents greater choice and helping them to travel more sustainably.

“We’ve already seen the benefits to residents in Chaddesden and the Six Streets area, so I’m pleased that residents in Osmaston will soon be able to reap the benefits.

“Our teams have taken the time to learn from previous hubs and feedback from residents and we’re confident that this latest hub will become a welcome addition to the community.

To allow essential infrastructure to be installed, a small section of Whittington Street near the junction of Osmaston Road will be closed between Monday 19 and Friday 23 May. Diversion routes will be clearly signposted.

The mobility hub will be funded by the Department for Transport (DFT)’s Future Transport Zones Fund, which was awarded to Derby City Council to trial new and exciting developments in transport.

Residents who would like to know more about the mobility hubs can get in touch with the Future Transport Zones team by emailing traffic.management@derby.gov.uk.

MIL OSI United Kingdom –

May 15, 2025

MIL-OSI Global: ‘I will not eat the bugs’: examining a right-wing narrative about scarcity and insect consumption

Source: The Conversation – France – By D. D. Moore, Visiting Fellow, Max Weber Programme for Postdoctoral Studies, European University Institute

Noor Bin Ladin, a right-wing influencer, stridently declares “I don’t want to eat the bugs” on a talk show hosted by a former adviser to US President Donald Trump. Laurent Duplomb, a senator from the conservative Les Républicains party in France, informs his colleagues that the French would be eating “insects without their knowledge”. Bartosz Kownacki, an MP from the nationalist Law and Justice party in Poland, suggests that opposition politicians write “instead of chicken, eat a worm” on their election materials, arguing that “this is their real election programme”. Thierry Baudet, a leader of the far-right Forum for Democracy party in the Netherlands, shouts “No way! No way!” while holding up a bag of mealworms in front of protesting farmers. Politicians in Lega, a far-right party in Italy, warn that the European Union is planning to “impose” the eating of insects on citizens in the bloc – and a Lega electoral campaign includes a billboard-sized image of a person popping an enormous cricket into their mouth, next to the caption, “Let’s change Europe before it changes us.”

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During the 2020s, commentators and politicians across the right-wing political spectrum have amplified an Internet-based conspiracy theory that elite forces are conspiring to make us all eat insects. Often rallying under the slogan “I will not eat the bugs,” right-wing and far-right figures have come out in force against human consumption of insects. Many of these people assert that the EU is planning to force bug-eating on the general public while devastating traditional agriculture and meat consumption under the guise of the European Green Deal, the bloc’s plan to eliminate greenhouse gases by 2050 and decouple economic growth from resource use. Opposing insect-eating has become a symbolic way to protest EU environmental policies, express scepticism of and hostility toward Brussels, and villainize political opponents. Closer inspection reveals that the conspiracy theory underlying such opposition has much older and more sinister resonances.

“Spreading disinformation”

Insect eating (entomophagy) remains a minor practice in Europe and North America, although alternative protein sources do play a role in the EU’s move toward a sustainable future. So far, the European Commission has approved frozen, dried and powdered forms of Tenebrio molitor (yellow mealworm larva), Locusta migratoria (migratory locust), Acheta domesticus (house cricket) and Alphitobius diaperinus (the lesser mealworm larva) for human consumption. But the market for insect powder in foods like bread, pasta and sports bars remains small. Although insects are common food in many parts of the world, consumers in the West, where insects are more commonly used to provide protein in animal feed, are reluctant to eat bugs for historical reasons based in ideas of uncleanliness and primitiveness. So, based on the facts, there seems to be little to no reason for statements such as those made by Rumen Petkov of Bulgaria’s ABV party, who said that EU approval of insect consumption is a “crime against Europe” and that the European Commission is “prepared to kill our European children”.

What led to the rapid spread of this conspiracy theory? Noor Bin Ladin’s remarks give us a clue. During her talk show appearance, Bin Ladin described her words as a message for Klaus Schwab to take to his “masters”. Schwab is the founder and executive chair of the World Economic Forum. Early in the Covid pandemic, Schwab and the WEF produced a set of proposals titled “the Great Reset”, which called for an overhaul of various world systems to produce a stakeholder-driven capitalism that would lead to a more socially and environmentally responsible future. Conspiracists seized on and branded “the Great Reset” as a new iteration of a conspiracy theory known as the New World Order – an imagined global governance system meant to control the lives of everyone. Both the Great Reset and the New World Order lead back to much older and broader antisemitic conspiracy theories that hold that elite Jewish financiers run the world with their hands on invisible levers of power. All these narratives tap into feelings of futility and hopelessness about the future.

US right-wing media personality Tucker Carlson called a 2023 episode of his show, which included a heavy focus on Schwab and the WEF, “Let Them Eat Bugs”, a title that gestures at the remark allegedly made by Marie Antoinette, the last queen of France, when she heard about people suffering from a lack of bread before the French Revolution: “Let them eat cake”. With this title, Carlson is aiming to emphasize that the elite are hopelessly out of touch and have contempt for farmers and the average man, whom they want to force to eat bugs. Like the French bedbug scare in late 2023, right-wing alarm around insect-eating has connections to the spread of anti-EU Russian propaganda. Russian news outlets have suggested that Europeans are so poor and food deprived as a result of sanctions connected to the war in Ukraine that they have been reduced to eating insects. As the European Digital Media Observatory (EDMO) writes, insects are “delicious treats for actors with interest in spreading disinformation against the EU”.

Symbols for dehumanization

The desire to stir up fear about the minor level of European and US insect consumption is not based on the risk of rapid growth in the insect market, but on the power to arouse disgust and fear itself. Insects have long been used as symbols to stir revulsion and paint opponents as objects of physical and moral disgust. During times of political extremism, insects have featured repeatedly in efforts to distance, devalue and dehumanize minorities. Armenians were called locusts during the Armenian genocide, and Jews were compared to lice in Nazi Germany. In the period prior to the ethnic genocide of Tutsis in Rwanda, some Hutus repeatedly called Tutsis “cockroaches” on public radio. The right wing’s current fetishization of insect-eating serves as a narrative to cast political opponents as morally repulsive, even if not labelling them as bugs themselves.

For some figures on the right, insect consumption symbolizes the worst of Eurocentric liberalism – seen as a movement so void of a positive political vision that the only possible future it offers is one of impoverishment and bug-eating. They point to an elite who they claim will go on feasting on meat while forcing mealworms and fly larvae on the rest of us. It’s a potent image. At a moment in which people on the right and the left seem unable to imagine a better political future together, it becomes easier to demonize climate policy-minded leaders as a group of disgusting hypocrites plotting to create a society of contrived scarcity where the general population is reduced to eating bugs.

Meanwhile, since 2015, scientists have been releasing papers warning that the global food system shows risks of genuine structural problems. In a future of environmental disruption, trade wars and real risks of food shortages and famine, we may need all the calories we can get – insect-based or otherwise.

Out of curiosity, I bought a bag of cricket flour last fall. The crickets resulted in a delicious, nutty-flavoured cecina, well… crickcina. So far, none of my friends will try it. They’re missing out.

D. D. Moore ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

– ref. ‘I will not eat the bugs’: examining a right-wing narrative about scarcity and insect consumption – https://theconversation.com/i-will-not-eat-the-bugs-examining-a-right-wing-narrative-about-scarcity-and-insect-consumption-254112

MIL OSI – Global Reports –

May 15, 2025

MIL-OSI: Independent Audit from Hacken Confirms MEXC’s Strong Security Standards

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, May 15, 2025 (GLOBE NEWSWIRE) — As part of a systematic approach to ensuring the security, transparency and sustainability of its platform, MEXC, a leading global cryptocurrency exchange, regularly undergoes both technical and financial audits. One of the latest steps in this direction included the successful completion of a security audit by Hacken, a leading Web3 cybersecurity firm. The audit found no critical or high-risk vulnerabilities in the MEXC mobile application and confirmed that previously identified minor issues were fully addressed.

Key Takeaways:

No critical or high-risk vulnerabilities were identified.
All minor issues flagged during the audit were promptly resolved.
The platform demonstrates adherence to robust security protocols and architecture.

The audit conducted under the comprehensive Hacken’s pentest methodology framework assessed all possible vulnerabilities of the MEXC app to attacks from malicious actors and exploitation. Hacken confirmed that MEXC’s existing security measures provide comprehensive protection against known threat vectors.

The audit also reviewed the platform’s operational architecture, emphasizing a balance between usability and security. Specifically, Hacken highlighted the MEXC app’s user-centric design and simplified navigation, which significantly improve the trading experience for both beginners and experienced traders. Special attention was given to the app’s infrastructure around trading execution, data handling, and fund transfer mechanisms.

MEXC has already addressed and resolved all low-risk vulnerabilities and risks that were flagged by the audit to strengthen the app’s resilience and improve the overall user security and trading experience. The prompt resolution highlights the exchange’s transparency towards its users and commitment to protecting its ecosystem from emerging threats.

Commenting on the audit, MEXC COO Tracy Jin stated:

“External, independent verification is an essential part of maintaining user trust and ensuring accountability. We thank Hacken for their work and continue to prioritize transparency and security, as we scale our services globally.”

Security and transparency remain key priorities for MEXC. In addition to successful technical audits, the exchange regularly confirms its financial stability through regular independently verified Proof of Reserves reports. This data is available to users and partners and meets industry standards for openness and control over user assets.

The full security audit report by Hacken is available at LINK.

About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

For more information, visit: MEXC Website｜X｜Telegram｜How to Sign Up on MEXC
For media inquiries, please contact MEXC PR Manager Lucia Hu: lucia.hu@mexc.com

About Hacken
Hacken is a trusted blockchain security auditor on a mission to make Web3 a safer place.

With a team of 60+ certified engineers, it provides solutions covering all aspects of blockchain security, such as smart contract & protocol audits, bug bounties, and security assessments.

Hacken has been raising the bar for blockchain security, working with more than 1,500 Web3 projects since its inception in 2017.

For more information, visit: Hacken Website｜X｜LinkedIn
Source

Disclaimer: This is a paid post and is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/122cdb2b-842a-4007-9a18-fd537963a67d

The MIL Network –

May 15, 2025

MIL-OSI Europe: EUROPE/UKRAINE – Father Luca Bovio, IMC, at the head of the newly established national direction of the Pontifical Mission Societies

Source: Agenzia Fides – MIL OSI

Wednesday, 14 May 2025

Vatican City (Agenzia Fides) – Cardinal Luis Antonio G. Tagle, Pro-Prefect of the Dicastery for Evangelization (Section for First Evangelization and New Particular Churches), appointed Father Luca Bovio, IMC, as director of the national direction of the newly established Pontifical Mission Societies (PMS) in Ukraine on March 25, 2025, for the five-year period 2025-2030.Born in Milan on October 19, 1970, Father Bovio experienced missionary volunteering as a lay person in Tanzania before joining the Consolata Missionaries in 1996. He completed his philosophical studies at the Interdiocesan Theological Study of Fossano, affiliated with the Faculty of Theology of Northern Italy (1998-2000), and his theological studies at the Pontifical Urbaniana University in Rome (2001-2004). He was ordained a priest in Milan in 2006. He obtained a degree in Dogmatic Theology from the Pontifical Gregorian University (2005-2007). In 2008, together with two confreres, he founded the first community of Consolata Missionaries in Poland.Since 2012, he has served as National Secretary of the Pontifical Missionary Union within the Polish PMS, playing a key role in organizing missionary congresses and in the formation of local clergy. He has been responsible for the Kielpino community since 2013 and has also been the Province’s Delegate to the Conference of Major Superiors of Poland.In 2019, he obtained his doctorate in Missiology at the University named after Cardinal Stefan Wyszyński in Warsaw. Since the beginning of the war in Ukraine, Father Bovio has visited the country many times, providing humanitarian support to several dioceses and strengthening his ties with the local Church. (EG) (Agenzia Fides, 14/5/2025)
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MIL OSI Europe News –

May 15, 2025

MIL-OSI New Zealand: Africa – 2025 Civil Society Forum: African Development Bank and Civil Society Reaffirm Alliance for Africa’s Transformation

SOURCE: African Development Bank Group (AfDB)

The forum provided an opportunity for the Bank to present its Civil Society Engagement Action Plan (2024–2028), reaffirming its commitment to an inclusive and participatory development process

ABIDJAN, Ivory Coast, May 14, 2025/ — The African Development Bank www.AfDB.org has reaffirmed its unwavering commitment to collaborating with African civil society to advance the continent’s development agenda. This was a key message of the 2025 Civil Society Organizations (CSO) Forum, which was successfully held on Thursday, May 8, 2025, in Abidjan.

The forum, organized under the theme: “Celebrating the Contribution of Civil Society to Africa’s Development,” brought together over 150 participants at the Bank’s headquarters, with thousands more connected online across Africa and the diaspora.

A Novel Action Plan to Deepen Engagement

This edition of the CSO Forum marked a pivotal step in reinforcing a solid, transformative, and trust-based partnership between the African Development Bank and civil society organizations. This enduring alliance is essential for collectively serving African populations and achieving impactful development across the continent.

The forum provided an opportunity for the Bank to present its Civil Society Engagement Action Plan (2024–2028), reaffirming its commitment to an inclusive and participatory development process.

Zeneb Touré, Manager of the Civil Society and Community Engagement Division, presented the strategic framework to Beth Dunford, the African Development Bank Group’s Vice-President for Agriculture, Human, and Social Development, who accepted it on behalf of the institution’s President, Akinwumi Adesina.

Demonstrating the Bank’s commitment to a diverse and inclusive partnership, Dunford shared the Action Plan with representatives of key civil society components: the Bank-Civil Society Committee, the Climate and Energy Coalition, and a continental network of women entrepreneurs’ associations.

Augustine Njamnshi, a prominent voice in the civil society climate and energy movement, welcomed its adoption: “The approval of this Action Plan marks a historic turning point in our collaboration with the African Development Bank Group. Born from a shared vision, this document becomes our collective legacy. We express our sincere gratitude to the Bank for this profound act of trust.”

Highlighting the essential role of civil society as an integral part of Africa’s progress, Kolyang Palebele, representative of the Platform of Farmers’ Organizations of Africa, expressed the spirit of collaboration, praising “the Bank’s unique power to unite the continent’s driving forces around a common vision of improving the lives of African people.” “Civil society is not on the margins of development dynamics; it is the very essence, its living memory and its engine for change,” Mr. Palebele stated.

“Over the years, civil society engagement has become a cornerstone of the African Development Bank’s work. What was once an aspiration has become evolved into a structured, institutionalized, and results-oriented collaboration partnership.” Ms. Dunford emphasized.

Empowering Communities Through Decentralized Engagement

During the forum, an important session highlighted the progress made in decentralizing the Bank’s engagement with civil society. Successful experiences from the five regions of Africa were presented. This localized approach was strongly commended by the Vice-President for Regional Development, Integration and Service Delivery, Nnenna Nwabufo, who appreciated a transformative cross-border initiative between the Central African Republic and the Democratic Republic of Congo. The project has provided over 2.4 million people with access to clean water, sanitation, and hygiene, while strengthening community resilience and fostering cooperation.

Fostering Mutual Accountability Through Open Dialogue

The forum culminated in an unprecedented and frank dialogue between senior representatives from seven strategic departments of the Bank and leaders of civil society organizations. Discussions focused on crucial areas such as access to information, environmental and social safeguards, climate action, agriculture, gender equality, youth empowerment, and grievance mechanisms. This essential interaction highlighted a shared commitment to transparency, responsiveness, and mutual accountability in the pursuit of sustainable development outcomes.

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

MIL OSI New Zealand News –

May 15, 2025

MIL-OSI Russia: Escalating violence in Tripoli threatens nearly half a million children – UNICEF

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

TRIPOLI, May 15 (Xinhua) — The United Nations Children’s Fund (UNICEF) on Wednesday said the escalation of violence in and around the Libyan capital Tripoli over the past two days threatens to affect nearly half a million children.

“UNICEF has received reports of children, families and medical staff being held for hours in hospitals, including Al-Jalaa Children’s Hospital, as fighting raged nearby. For several hours, emergency services were unable to access the facility to provide the care they needed. Families are reporting that their children are in critical condition due to the ongoing violence,” UNICEF said in a statement.

The organization urged all parties to comply with their obligations under international humanitarian law and the UN Convention on the Rights of the Child to protect children and their infrastructure.

“We call for a lasting cessation of hostilities to ensure the safety and well-being of every child,” the statement said.

Violent clashes broke out in Tripoli on Monday evening between forces loyal to Libyan Prime Minister Abdel Hamid Dbeibeh, including the 444th Brigade, and a radical group affiliated with the Presidency Council’s Security and Stability Administration. The escalation was sparked by the reported death of the administration’s chief, Abdelghani al-Kikli, also known as Ghaniwa. –0–

MIL OSI Russia News –

May 15, 2025

MIL-OSI Russia: NSU discusses best practices for interaction between educational organizations and employers

Translation. Region: Russian Federal

Source: Novosibirsk State University – Novosibirsk State University –

The IX International Conference “Best Practices of Interaction between Educational Organizations and Employers” is being held at Novosibirsk State University from May 14 to 17. Representatives from 10 regions of Russia from Khabarovsk to St. Petersburg are taking part in the in-person events of the conference. An online broadcast is also organized.

The conference is aimed at the heads and specialists of regional executive authorities, vice-rectors in charge of international cooperation, academic mobility and career development centers, as well as heads and employees of career development centers. The event is aimed at analyzing the current state and determining the further development vector of career centers, forming new ideas and approaches to improving their activities, opportunities for business cooperation with colleagues from other regions, inter-university cooperation through career centers and education export.

These days, NSU has become a platform for discussing current issues affecting the problems of employment of university graduates in the new realities, according to the methodological recommendations of the Ministry of Education and Science of Russia dated 02/25/2025, the organization and forecasting of employment of NSU graduates, identifying the professional intentions of future graduates, as well as graduates at risk of unemployment. The conference participants will exchange views on the formation of the National Rating of Higher Education Organizations and Professional Educational Organizations, the role of university career centers in the formation of a professional community and human resources, analyze the interaction of universities and businesses, as well as the dynamics of the labor market in the regions of Russia.

— This conference is being held for the ninth time. It was first held in 2017 and brought together representatives of several career development centers and departments involved in student employment at universities. During the discussion of the current situation, the conference participants came to the conclusion that they face the same problems in their work. In order to take joint measures to solve them, the All-Russian Organization of Career Centers was created, and the conference became annual. The number of its participants is constantly growing. Here, at our horizontal level, we discuss the most important issues related to monitoring the situation on the labor market, career guidance work at universities and various tests that students must pass. The state is currently paying a lot of attention to career development centers, which currently act as the flagship of career guidance and establishing a career path for university graduates, because their activities are directly related to the implementation of the National Project “Personnel”. Therefore, such meetings of the professional community are very important, — said Svetlana Dovgal, Director of the NSU Career Development Center.

This year, representatives of secondary vocational education institutions are taking part in the conference. The round table “Interaction of secondary vocational education institutions with employers: experience, problems, prospects” will be held on May 16 and is devoted to discussing their problems. It is noteworthy that employers and business partners of NSU are taking part in the conference, including SHIFT specialists, who will conduct a quiz “Transformation of education, from Y to Z” for representatives of career development centers.

In her welcoming speech to the conference participants, Olga Yakovleva, Vice-Rector for Youth Policy and Educational Work at NSU, noted that the current conference is taking place at a very difficult time – over the past year and a half, the vector of the issues being discussed, in the center of which are representatives of Generation Z, has changed significantly: if earlier the focus was on its characteristics, shortcomings, quality of knowledge and motivation, now the emphasis has shifted to the sphere of employment.

— For current applicants, it is important to choose from a variety of universities the one and only one that will become a bridge to the employer, and the task of the university is to ensure that each student is as useful as possible in the labor market. And today, career development centers are entrusted with the important work of building such tracking. We organize meetings of our CRC representatives with first-year students, because this work with students should begin at the very beginning of their studies at the university. The Career Development Center also participates in Open Days — so that applicants understand what career opportunities studying at our university gives them, and all their years of study develop the skill of effective employment. And we must learn to effectively build communication with these new people of Generation Z and make sure that they are as useful as possible to society and the state, — said Olga Yakovleva.

Deputy Minister of Education of the Novosibirsk Region Svetlana Malina noted in her speech at the plenary session of the conference that the role of career centers in the educational and career guidance processes will only increase.

— The trends in federal and regional policy are that in the next 2-3 years, the number of ninth and eleventh grade graduates is expected to decrease. The situation is aggravated by the general aging of the population. In the Novosibirsk Region, the unemployment rate is currently quite low and amounts to only 2%. The labor market is undergoing radical changes, and if earlier, graduates of universities and secondary specialized educational institutions looked for employers upon completion of their studies, now the opposite situation is often observed: employers are looking for graduates. Now, in the labor market, the conditions are determined by the candidate for employment. Enterprises — especially in the defense industry — compete with each other for graduates, raising salaries and offering various social packages. Graduates, in turn, are not always ready to agree to working conditions that do not suit them. In the current situation, our universities should receive motivated applicants, so career guidance should be carried out from a fairly early age. This is especially important for engineering specialties. It is necessary to implement career guidance activities for middle school students, for which purpose a unified career guidance system was introduced – the so-called career guidance minimum, according to which career guidance activities of different levels are implemented in each school, said Svetlana Malina.

Conference participants shared their experience in career guidance and career development of their graduates in their speeches. Head of the Novosibirsk branch of the Center for Public Diplomacy, Associate Professor of the Siberian State University of Telecommunications and Informatics Dmitry Kaznacheev spoke about the specifics of interaction between universities and employers in the employment of foreign students. Director of the Career Center of the Chelyabinsk State University Svetlana Eremeeva gave a report on “Successful cooperation between universities and enterprises: interaction models and their impact on the educational process”. Project Manager of the School of Information Financial Technologies Vera Vyacheslavova introduced the participants to the formats of interaction with universities from the standpoint of an industrial partner. Deputy Head of the Department for Work with Students and Alumni of the Moscow State Institute of International Relations of the Ministry of Foreign Affairs of Russia, Director of the ANO “Unified Center for Career Development” Anastasia Voitsitskaya presented the key career trends of this year.

The first day of the conference ended with a round table on “Features of Higher Education Development” as part of the celebration of the 270th anniversary of Lomonosov Moscow State University.

In the future, conference participants will take part in two round tables: “Features of employment of generation Z: from Y to Z” and “Interaction of educational organizations of secondary vocational education with employers: experience, problems, prospects”.

Director of the Career Center of Chelyabinsk State University Svetlana Eremeeva:

— The Career Center is designed to help our students enter the labor market as trained specialists and navigate it correctly, so I never miss events like today’s conference. For us, career center specialists, this is a unique opportunity to exchange opinions, learn something new, master new approaches and models implemented in other universities and designed to help our students find their place in the labor market. This conference is especially relevant now, when new methodological recommendations have been released by the Ministry of Science and Higher Education of the Russian Federation. The exchange of opinions, experience, methods and information is very important for our professional community. We apply the experience of our colleagues in our educational organizations. In my speech at the conference, I will talk about the models of interaction with employers that we implement. Previously, the educational process was closed in on itself and concluded within the certain framework of a specific educational organization. Now, career centers ensure interaction between universities and enterprises that are actively involved in the educational process. This is very important for us, because we want to adapt our students to the labor market, and not just provide higher education.

Head of the organizational and educational department of the center for advanced professional training in the direction of “Social sphere in the Sverdlovsk region” Svetlana Larionova:

— I represent a career center in the secondary vocational education sector. It is still poorly represented in the All-Russian Association of Career Centers, but we are concerned with the same problems as career centers of universities. And our tasks in this regard are similar. Therefore, professional communication and exchange of experience are of great interest to us. Establishing interaction between educational organizations and employers is very important, and we are now increasingly focusing on employers themselves formulating the criteria by which we then send our own to them. It is necessary to structure the educational process in such a way that these criteria are necessarily taken into account when developing the skills and knowledge of students. Then the employer will not have to retrain graduates, and they will immediately successfully join the work process.

Vice-Rector for Personnel Policy of the Moscow State Institute of International Relations (University) of the Russian Ministry of Foreign Affairs Vladimir Morozov:

— The topics discussed and worked on at this conference, dedicated to the labor market and relations with employers, have always been and remain the most relevant for all universities, because the purpose of a university’s existence is not studying for the sake of studying, but training certified specialists who must receive a profession and, importantly, a good salary.

Any university works to provide its graduates with, at a minimum, an education, and so that a specialist can find himself in life, receive professional guidance from the university and meet a reliable employer.

Unfortunately, in some universities, in some specialties, there is a certain disconnect between education and the real labor market, which creates problems for university graduates upon completion of their studies. In order to prevent this from happening, universities are actively working to ensure that the employer comes to the university as early as possible, gets to know the students, makes a presentation of their business, company or government agency. And the maximum is, of course, the participation of the employer in the educational process. In this we see the highest degree of cooperation between the university and employers.

The decision to establish the All-Russian Association of Career Centers was made in 2018. Today, it includes more than 110 universities of the Russian Federation, which, cooperating horizontally with each other, develop a unified policy and a unified vision of the problems and issues that need to be resolved jointly. And this allows us to formulate our common position and contact government bodies with any proposals and wishes, with the confidence that they will be taken into account when developing regulations.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

May 15, 2025

MIL-OSI United Nations: IDMC Report: Record 83 Million People Living in Internal Displacement Worldwide

Source: International Organization for Migration (IOM)

Geneva, 13 May 2025 – An unprecedented 83.4 million people were living in internal displacement at the end of 2024, according to the newly released Global Report on Internal Displacement 2025 (GRID) from the Internal Displacement Monitoring Centre (IDMC).  

Conflict continued to drive much displacement. Last year alone, 20.1 million new conflict-related internal displacements were recorded, with 9.1 million coming from just two countries:  Sudan and the Democratic Republic of Congo (DRC).   

“These figures are a clear warning: without bold and coordinated action, the number of people displaced within their own countries will continue to grow rapidly,” said IOM Director General Amy Pope. “The IDMC report is also a call for preventive action, to use data and other tools to anticipate displacement before it happens, and for the humanitarian and development sectors to work together with governments to develop longer-term solutions to prevent displacement.”   

The total of 83.4 million internally displaced people at the end of 2024 is an increase of 7.5 million from the 2023 figure of 75.9 million people, which was also a record.  

Disasters remained a major driver of internal displacement in 2024, and last year saw a record 45.8 million new disaster displacements, nearly double the annual average of the past decade. While most people were able to return home during the year, 9.8 million remained displaced due to disasters at the end of 2024. 

A total of 29 countries and territories reported their highest disaster displacement figures on record, with cyclones accounting for 54 per cent of all disaster displacements last year. As the frequency, duration, and intensity of weather-related events continue to worsen, these figures are expected to continue to rise.  

IOM provides key data for the GRID report, which is a crucial tool to shape policies, support evidence-based responses and inform durable solutions for the growing millions who are living in internal displacements worldwide. 

Note to Editors 

The International Organization for Migration (IOM) is a key partner of the GRID report and contributes significantly through its Displacement Tracking Matrix (DTM) – the world’s largest source of primary data on internal displacement. More than half of the estimates in this year’s report originate from IOM’s data collection and analysis.  

Read the full GRID Report 2025 by IDMC here.  

For more information, please contact IOM Media Centre

MIL OSI United Nations News –

May 15, 2025

MIL-OSI China: Nottingham Forest striker Awoniyi in induced coma after surgery

Source: People’s Republic of China – State Council News

Nottingham Forest’s Nigerian striker Taiwo Awoniyi has been placed in an induced coma after an operation for a stomach injury.

He collided with the post in the closing moments of his side’s 2-2 draw at home to Leicester City on Sunday after coming on as a substitute and suffered a ruptured intestine.

The club has issued a statement saying he is “recovering well” but adding that the incident is “a powerful remainder of the physical risks in the game and why a player’s health and wellbeing must always come first.”

Awoniyi will need a second operation to help complete his recovery, with that scheduled to take place on Wednesday.

MIL OSI China News –

May 15, 2025

MIL-OSI China: Chinese FM meets with new Sudanese counterpart

Source: People’s Republic of China – State Council News

Chinese Foreign Minister Wang Yi met with Omer Mohamed Ahmed Siddig, the outgoing Sudanese ambassador to China and the newly appointed foreign minister of Sudan, in Beijing on Wednesday.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, congratulated Siddig on his assumption of office as Sudanese foreign minister, and expressed appreciation for his contributions to promoting the development of China-Sudan relations during his tenure as ambassador to China.

Noting that this year marks the 10th anniversary of the establishment of the strategic partnership between China and Sudan, Wang called on both sides to implement the important consensus reached between their two heads of state, promote continuous fruitful results in their bilateral relations, and bring benefits to their two peoples.

He said that China supports Sudan firmly in safeguarding its sovereignty, independence and territorial integrity, and supports Sudan in achieving peace, stability and development at an early date. China will continue to provide humanitarian assistance within its own capacity, Wang added.

Siddig said that Sudan regards China as its most important partner and a trustworthy friend, prioritizes cooperation with China, and will continue to support China firmly in safeguarding its core interests. As the new foreign minister, he will continue to spare no effort to promote the development of the Sudan-China strategic partnership, and will work collaboratively to implement a series of important global initiatives proposed by China.

MIL OSI China News –

May 15, 2025

MIL-OSI USA: Congressman Jonathan L. Jackson Condemns Racially Biased Refugee Policy Under Trump Administration

Source: United States House of Representatives – Representative Jonathan Jackson – Illinois (1st District)

Washington, DC — In response to a New York Times report revealing that the Trump administration fast-tracked refugee admissions for white South Africans while continuing to block refugee access for Black and brown populations fleeing violence and persecution, Congressman Jonathan L. Jackson issued the following statement:

“The Trump administration’s decision to halt virtually all refugee admissions—except for white South Africans—is a flagrant abuse of power, driven not by humanitarian concern, but by a dangerous and racially selective ideology. Let’s be clear: there is no credible evidence that Afrikaners are facing racial genocide in South Africa. The President’s claim is false, and he knows it.

Meanwhile, the very same administration has turned its back on Congolese families stuck in refugee camps, Rohingya Muslims fleeing genocide in Myanmar, and Haitians escaping a nation whose capital is now controlled by violent gangs. Refugee policy should never be a tool of white grievance or racial favoritism—it should reflect our highest values of justice, compassion, and equal protection under international law.

To revoke Temporary Protected Status (TPS) from Haitians while fast-tracking white South Africans speaks volumes. It tells the world that, under this administration, Black and brown lives do not matter.

I stand with the global community in calling for a refugee policy rooted in truth, fairness, and humanity—not one twisted to serve a political agenda steeped in racial division. America must be a refuge for the persecuted, not a sanctuary for prejudice.”

Congressman Jackson is calling for immediate oversight hearings into the administration’s racially discriminatory refugee decisions and urges the Trump administration to restore a humane, equitable, and lawful refugee process.

###

MIL OSI USA News –

May 15, 2025

MIL-OSI Economics: Africa Road Builders: Angolan President João Lourenco, winner of the Babacar Ndiaye Prize 2025

Source: African Development Bank Group

Angolan President João Lourenço has won the 2025 “Africa Road Builders” prize –awarded to African leaders who have invested in infrastructure development. He follows Equatorial Guinea’s Téodoro Obiang Nguema Mbasogo and Congo Denis Sassou-Nguesso, who were joint winners in 2024.

The selection committee for the Babacar Ndiaye Road Builder Super Prize, meeting in Dubai on 25 April, awarded it to Lourenço for the construction of major transport infrastructure in Angola. Projects include the Lobito Corridor, a strategic regional railway line between Zambia, Angola and the Democratic Republic of Congo. The African Development Fund, the African Development Bank Group’s concessional loans window, provided a grant of $8.14 million towards implementing the project, which will improve regional integration and support trade between the three countries.

The construction of the new Dr Agostinho Neto international airport, which opened in November 2023, paving 2,000 km of roads, resurfacing a further 2,000 km and building a light metro system in Luanda were the key factors in making their decision, the committee said.

“We were aware that in recent years, Angola has embarked on a major transformation of its transport infrastructure, with the aim of strengthening its strategic position in southern and central Africa and diversifying its economy. The immediate impacts of these various projects and achievements have been the creation of several services, including the use of new information and communication technologies,” explained the Africa Road Builders selection committee.

The latest winner of the Babacar Ndiaye prize will receive his award in Abidjan on 28 May, alongside the Annual Meetings 2025 of the African Development Bank Group.

Sponsored by the African Development Bank Group, the Babacar Ndiaye Africa Road Builders prize is awarded by Acturoutes, a platform that provides information on the road network and infrastructure in Africa, and the organization Media for Infrastructure and Finance in Africa (MIFA), a network of African journalists specializing in road infrastructure.

The prize was created in honour of Babacar Ndiaye (1936-2017), President of the African Development Bank Group from 1985 – 1995. Each year, the “Africa Road Builders” Selection Committee evaluates ambitious, tangible projects that have a real impact on people’s mobility in Africa.

Since its launch in 2016, the Babacar Ndiaye Prize has been awarded to the following heads of state: King Mohamed VI (Morocco), Edgar Lungu (Zambia), Alassane Ouattara (Côte d’Ivoire), Ali Bongo Ondimba (Gabon), Macky Sall (Senegal) and Paul Kagamé (Rwanda) as joint winners in 2017, Uhuru Kenyatta (Kenya), Adama Barrow (Gambia), Abdel Fattah-al Sissi (Egypt), Muhammadu Buhari (Nigeria), Samia Suhulu Hassan (Tanzania), Andry Rajoelina (Madagascar), and Teodoro Obiang Nguema Mbasogo (Equatorial Guinea) and Denis Sassou-Nguesso (Congo), joint winners in 2024.

MIL OSI Economics –

May 15, 2025

MIL-OSI United Nations: In Berlin, broad backing for UN peacekeeping as global threats mount

Source: United Nations – Peacekeeping

By Vibhu Mishra

More than 130 countries and international partners threw their weight behind UN peacekeeping at a high-level ministerial summit in Berlin on Wednesday, pledging military, tech and political support.

UN Secretary-General António Guterres meanwhile warned that peace operations are under growing strain and must adapt to meet today’s rising threats.

The two-day conference on peacekeeping, hosted by the Government of Germany, brought together over 1,000 participants – including defence and foreign ministers – to reaffirm commitment to the UN’s flagship tool for maintaining peace and stability.

It concluded on Wednesday with a wide array of pledges, including 88 military and police units, specialized training, and investments in emerging technologies and strategic communications.

Difference between life and death

“In trouble spots around the world, ‘blue helmets’ can mean the difference between life and death,” Mr. Guterres said in his opening remarks.

“Now more than ever, the world needs the United Nations. And the United Nations needs peacekeeping that is fully equipped for today’s realities and tomorrow’s challenges.”

Germany, which currently contributes troops to UN missions in South Sudan, Lebanon, and Western Sahara, announced €82 million (around $91.7 million) in funding, along with commitments in training, renewable energy solutions and drone technology.

“Germany continues to be a steadfast supporter of UN peacekeeping,” said Defense Minister Boris Pistorius.

Broad and diverse commitments

A total of 74 UN Member States made specific pledges, ranging from uniformed personnel to training and strategic support.

This includes pledges which will bolster military and police units, including airlift and rapid deployment capabilities (53 national contributions), specialized training (59), technological enhancements (18), advancing the Women, Peace and Security Agenda (38) and safety and protection (16).

Eleven countries also committed to improving accountability and conduct, including support to the trust fund for victims of sexual exploitation and abuse, and eight nations supporting the UN’s efforts to counter mis- and disinformation through strategic communications.

Mounting pressures

At a press conference following the meeting, Secretary-General Guterres acknowledged that peacekeepers operate in an increasingly complex and dangerous environment, citing a record number of global conflicts, the targeting of peacekeepers by drones and improvised explosive devices (IEDs) and the rising threat from disinformation campaigns.

“We need to ask some tough questions about the mandates guiding these operations, and what the outcomes and solutions should look like,” he said, speaking alongside German Foreign Minister Johann Wadephul and Defence Minister Pistorius.

“Every context is different, and missions must be adapted accordingly.”

The UN chief also stressed the importance of sustained financial backing, highlighting that many missions continue to struggle with cash flow shortages due to delayed payments from Member States.

“It is absolutely essential that all Member States respect their financial obligations, paying their contributions in full and on time,” he said.

Crucial reforms

The Berlin meeting feeds into the UN’s broader reform efforts, including an ongoing Review of Peace Operations announced in last year’s Pact for the Future, aimed at making peacekeeping and peace enforcement more flexible, cost-effective, and aligned with real-world needs.

This year’s Ministerial also coincides with the 80th anniversary of the United Nations and the 10-year anniversary of the 2015 New York Summit on Peacekeeping. It follows similar high-level meetings in Accra, Seoul, Vancouver and London.

Peacekeeping remains one of the UN’s most visible activities, with over 61,000 uniformed personnel from 119 countries currently deployed across 11 missions, supported by more than 7,000 civilian staff.

MIL OSI United Nations News –

May 15, 2025

MIL-OSI: Orca Energy Group Inc. Announces Completion of Q1 2025 Interim Filings

Source: GlobeNewswire (MIL-OSI)

TORTOLA, British Virgin Islands, May 14, 2025 (GLOBE NEWSWIRE) — Orca Energy Group Inc. (“Orca” or the “Company” and includes its subsidiaries and affiliates) (TSX-V: ORC.A, ORC.B) today announces that it has filed its condensed consolidated interim (unaudited) financial statements and management’s discussion and analysis for the three month period ended March 31, 2025 (“Q1 2025”) with the Canadian securities regulatory authorities. All amounts are in United States dollars (“$”) unless otherwise stated.

Jay Lyons, Chief Executive Officer, commented:

“Operationally, I am pleased with how Orca has performed in the first quarter of 2025. Despite the marginal reduction in gas deliveries, largely due to factors outside of the Company’s control, production from the Songo Songo gas field remains robust and in line with our expectations. In light of the challenging commercial environment and the lack of clarity regarding a license extension being secured, capital expenditure on the field has been significantly reduced year-on-year, and this will remain the case going forward.

Orca remains focused on safeguarding shareholder value with a view to maintaining the capital returns policy, subject to an ongoing review of the commercial environment. We will keep all our stakeholders appraised of developments over the coming months.”

Highlights

Revenue for Q1 2025 increased by 2% compared to the same prior year period, primarily as a result of a higher current income tax adjustment.

To date the Songas Power Plant remains shutdown.
Gas delivered and sold decreased by 3% for Q1 2025 compared to the same prior year period. In 2024, the Julius Nyerere Hydropower Project (“JNHPP”) commenced commercial operations, with progressive commissioning of each of its 9 turbines allowing a potential peak output of over 2,115 MW. Although the JNHPP’s power generation is currently constrained pending ongoing development of the electricity distribution network, the increased hydro power generation it has delivered, combined with the Songas Power Plant shutdown, have been the primary factors in reduced gas liftings for the power sector.
On April 14, 2023, PanAfrican Energy Tanzania Limited (“PAET”) formally requested Tanzanian Petroleum Development Corporation (“TPDC”) apply for an extension of the Songo Songo Development License (the “License”). TPDC is contractually required to make this application promptly upon a request by the Company. In November 2024, TPDC submitted the application for the extension of the License to the Ministry of Energy (“MoE”), however, being uneconomic, the Company informed TPDC that it did not agree with the terms as submitted. Having declined to address PAET’s concerns itself, TPDC refused to rescind and resubmit the application and has advised PAET to raise any issues directly to the MoE. The Company’s Counsel subsequently submitted a letter to the MoE, requesting an urgent meeting to address the issues, and to date a response has not been received to such letter. There are currently no certainties on the timing, nature and extent of any extension of the License. Until an extension has been finalized, a high degree of uncertainty exists with respect to the extent of the Company’s operating activities subsequent to October 2026, when the License is set to expire.
On April 15, 2024, contrary to the terms of the gas agreement (“Gas Agreement”) and Production Sharing Agreement (the “PSA”) between PAET, TPDC and the Government of Tanzania (“GoT”), and in violation of Pan African Energy Corporation (Mauritius) (“PAEM”) and PAET’s expectations, the Permanent Secretary of MoE wrote to TPDC, copying PAET and Songas Limited (“Songas”), directing TPDC to “ensure that Protected Gas continues to be produced to the end of the Development Licence on 10th October 2026”. Consistent with that instruction, TPDC took the position that Protected Gas should continue despite the parties’ contractual agreement that Protected Gas ceased after July 31, 2024.
In February 2025, PAET, TPDC and Tanzania Portland Cement PLC (“TPCPLC”) agreed to the terms of the Supplementary Gas Agreement (“SGA”) to sell volumes after July 31, 2024 as Additional Gas, which, prior to August 1, 2024, were supplied as Protected Gas. In Q1 2025, TPCPLC fully paid the Company $10.4 million of the receivable previously outstanding as at December 31, 2024.
On August 7, 2024, PAET and PAEM issued a notice of dispute (“Notice of Dispute”) in respect of an investment treaty claim against the GoT for breach of the Agreement on Promotion and Reciprocal Protection of Investment between the Government of the Republic of Mauritius and the GoT (“BIT”), and a contractual dispute against GoT and TPDC, for breaches of the: (i) PSA, and (ii) the Gas Agreement. Initial meetings with both the Advisory and Coordinating Committees were held during the week of October 14, 2024 without any resolution on the key issues in dispute. The matters have been further referred to the relevant entity’s chief executive officers and working groups in accordance with the dispute resolution process. Discussions continued with meetings held in January and March 2025 without resolution. The Company’s Counsel subsequently submitted a letter to the MoE, requesting an urgent meeting to address the issues, to date we haven’t had a response to the letter.
In February 2025, the Company received a judgment (the “Judgment”) from the Tanzanian High Court (Commercial Division) (the “Court”) for a claim brought by a contractor against PAET. The claim was brought by the contractor for losses arising from PAET’s termination of a contract relating to the Company’s 3D seismic acquisition program. The contract was signed in 2022 and work was due to be completed by the end of 2022; however, work only commenced in 2023 and was never completed. Pursuant to the Judgment, the Court ordered specific and general damages in the aggregate of $23.1 million, plus legal costs and interest at a rate of 7% per annum be paid by PAET to the contractor. PAET respectfully disagrees with the Judgment and has initiated the appeal process. PAET was required to post security for the full amount of the Judgment until the appeal is resolved. The Company has recognised the resulting liability in 2024 based on the Judgment applied. The Company has initiated the appeal process, and if successful in that process, a reversal would be recognized in earnings at that time.
Net income attributable to shareholders decreased by 89% for Q1 2025 compared to the same prior year period, primarily as a result of higher depletion and general and administrative expenses.
Net cash flows from operating activities1 increased to $20.3 million in Q1 2025 compared to net cash flows used in operating activities of $6.2 million for the same prior year period, primarily a result of the higher payment of the 2023 current liability associated with additional profits tax in Q1 2024 and the TPCPLC settlement of the 2024 year end receivable as well as other changes in non-cash working capital.
Capital expenditures decreased by 63% for Q1 2025 compared to the same prior year period. The capital expenditures in Q1 2025 primarily related to the costs of flowlines replacements on SS-5 and SS-9 wells, deferred from 2024 at the request of the GoT. The capital expenditures in Q1 2024 primarily related to the costs of the planned SS-7 well workover program.
The Company exited the period with $26.8 million in working capital1 (December 31, 2024: $21.9 million) and cash and cash equivalents of $70.2 million (December 31, 2024: $90.1 million). Cash held in hard currencies (USD, Euro, GBP, CDN) was $64.8 million, as at March 31, 2025 (December 31, 2024: $87.1 million).
In February 2025, the Company fully prepaid the $60 million investment (the “Loan”) made by International Finance Corporation (“IFC”) in PAET, pursuant to a loan agreement dated October 29, 2015 between the IFC, PAET and the Company (the “Loan Agreement”). To effect the foregoing prepayment, the Company paid to IFC $30.6 million, representing the aggregate outstanding principal of the Loan together with all accrued interest thereon and all other amounts owing in connection with the Loan as of February 21, 2025. As of the date hereof, the annual variable participating interest granted by PAET to IFC under the terms of the Loan Agreement remains outstanding.
As at March 31, 2025, the current receivable from the TANESCO was $12.5 million (December 31, 2024: $12.7 million). The TANESCO long- term receivable as at March 31, 2025 and as at December 31, 2024 was $22.0 million and has been fully provided for. Subsequent to March 31, 2025, the Company has invoiced TANESCO $5.4 million for April 2025 gas deliveries and TANESCO has paid the Company $5.7 million to date.
On April 15, 2025 PAET signed a settlement agreement with TPDC and TANESCO (“Settlement Agreement”), for TANESCO to pay PAET and TPDC $52.0 million for unpaid amounts owing by TANESCO for deliveries of natural gas from the Songo Songo gas field. The Settlement Agreement requires TANESCO to pay the Tanzanian Shilling equivalent of $52.0 million, comprised of the $33.7 million principal amount and $18.3 million representing a portion of the default interest owed by TANESCO. It was agreed that the remaining balance of the default interest owing by TANESCO would be waived if TANESCO pays the settlement amount when required and in full while remaining current on amounts owed. TANESCO must pay the settlement amount to PAET via weekly instalments and meet monthly total payment amounts, commencing in April 2025 and ending in October 2025. Payments on account of the settlement amount will be allocated between PAET and TPDC in accordance with the PSA. Pursuant to the PSA, and assuming payment in full of the settlement amount, the Company expects to retain approximately $29.4 million of the settlement amount with TPDC retaining the balance. To date, TANESCO has paid $10.0 million under the Settlement Agreement.

¹ See Non-GAAP Financial Measures and Ratios.

Financial and Operating Highlights for the Three Months Ended March 31, 2025
	Three Months ended March 31			% Change
(Expressed in $’000 unless indicated otherwise)	2025	2024		Q1/25 vs Q1/24
OPERATING Daily average gas delivered and sold (MMcfd)	72.0	74.3		(3	)%
Industrial	19.1	14.0		36	%
Power	52.9	60.3		(12	)%
Average price ($/mcf)
Industrial	7.98	8.94		(11	)%
Power	3.92	3.87		1	%
Weighted average	4.99	4.82		4	%
Operating netback ($/mcf)¹	2.87	2.79		3	%
FINANCIAL
Revenue	25,391	24,937		2	%
Net income attributable to shareholders	102	969		(89	)%
per share – basic and diluted ($)	0.01	0.05		(80	)%
Net cash flows from / (used in) operating activities	20,264	(6,170	)	n/m
per share – basic and diluted ($)¹	1.03	(0.31	)	n/m
Capital expenditures¹	548	1,470		(63	)%
Weighted average Class A and Class B shares (‘000)	19,766	19,799		0	%
	March 31,	As at December 31,
	2025	2024		% Change
Working capital (including cash) ¹	26,796	21,904		22	%
Cash and cash equivalents	70,183	90,076		(22	)%
Outstanding shares (‘000)
Class A	1,750	1,750		0	%
Class B	18,015	18,022		0	%
Total shares outstanding	19,765	19,772		0	%

¹ See Non-GAAP Financial Measures and Ratios.

The complete Condensed Consolidated Interim (Unaudited) Financial Statements and Notes and Management’s Discussion & Analysis for the three months ended March 31, 2025 may be found on the Company’s website at www.orcaenergygroup.com or on the Company’s profile on SEDAR+ at www.sedarplus.ca.

Orca Energy Group Inc.

Orca Energy Group Inc. is an international public company engaged in natural gas development and supply in Tanzania through its subsidiary, PAET. Orca trades on the TSX Venture Exchange under the trading symbols ORC.B and ORC.A.

The principal asset of Orca is its indirect interest in the PSA with TPDC and the GoT in the United Republic of Tanzania. This PSA covers the production and marketing of certain conventional natural gas from the License offshore Tanzania. The PSA defines the gas produced from the Songo Songo gas field as “Protected Gas” and “Additional Gas”. The Gas Agreement deals further with the parties’ entitlement to Protected Gas and Additional Gas. Under the Gas Agreement, until July 31, 2024, Protected Gas was owned by TPDC and was sold to Songas TPCPLC. After July 31, 2024, Protected Gas ceased and all production from the Songo Songo gas field constitutes Additional Gas which PAET and TPDC are entitled to sell on commercial terms until the PSA expires in October 2026. Songas is the owner of the infrastructure that enables the gas to be treated and delivered to Dar es Salaam, which includes a gas processing plant on Songo Songo Island.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Abbreviations

mcf	thousand cubic feet
MMcf	million standard cubic feet
MMcfd	million standard cubic feet per day

Non-GAAP Financial Measures and Ratios

In this press release, the Company has disclosed the following non-GAAP financial measures, non-GAAP ratios and supplementary financial measures: capital expenditures, operating netback, operating netback per mcf, working capital, net cash flows from operating activities per share and weighted average Class A and Class B Shares.

These non-GAAP financial measures and ratios disclosed in this press release do not have any standardized meaning under International Financial Reporting Standards (“IFRS”), and may not be comparable to similar financial measures disclosed by other issuers. These non-GAAP financial measures and ratios should not, therefore, be considered in isolation or as a substitute for, or superior to, measures and ratios of Company’s financial performance defined or determined in accordance with IFRS. These non-GAAP financial measures and ratios are calculated on a consistent basis from period to period.

Non-GAAP Financial Measures

Capital expenditures

Capital expenditures is a useful measure as it provides an indication of our investment activities. The most directly comparable financial measure is net cash used in investing activities. A reconciliation to the most directly comparable financial measure is as follows:

	Three Months ended March 31
$’000	2025	2024
Pipelines, well workovers and infrastructure	548	1,169
Other capital expenditures	–	301
Capital expenditures	548	1,470
Change in non-cash working capital	7,102	(85	)
Net cash used by investing activities	7,650	1,385

Operating netback

Operating netback is calculated as revenue less processing and transportation tariffs, TPDC’s revenue share, and operating and distribution costs. The operating netback summarizes all costs that are associated with bringing the gas from the Songo Songo gas field to the market and is a measure of profitability. A reconciliation to the most directly comparable financial measure is as follows:

	Three Months ended March 31
$’000	2025		2024
Revenue	25,391		24,937
Production, distribution and transportation expenses	(4,203	)	(4,310	)
Net Production Revenue	21,188		20,627
Less current income tax adjustment (recorded in revenue)	(2,538	)	(1,726	)
Operating netback	18,650		18,901
Sales volumes MMcf	6,487		6,764
Netback $/mcf	2.87		2.79

Non-GAAP Ratios

Operating netback per mcf

Operating netback per mcf represents the profit margin associated with the production and sale of Additional Gas and is calculated by taking the operating netback and dividing it by the volume of Additional Gas delivered and sold. This is a key measure as it demonstrates the profit generated from each unit of production.

Supplementary Financial Measures

Working capital

Working capital is defined as current assets less current liabilities, as reported in the Company’s Condensed Consolidated Interim Statements of Financial Position (Unaudited). It is an important measure as it indicates the Company’s ability to meet its financial obligations as they fall due.

Net cash flows from operating activities per share

Net cash flows from operating activities per share is calculated as net cash flows from operating activities divided by the weighted average number of shares, similar to the calculation of earnings per share. Net cash flow from operations is an important measure as it indicates the cash generated from the operations that is available to fund ongoing capital commitments.

Weighted average Class A and Class B Shares

In calculating the weighted average number of shares outstanding during any period the Company takes the opening balance multiplied by the number of days until the balance changes. It then takes the new balance and multiplies that by the number of days until the next change, or until the period end. The resulting multiples of shares and days are then aggregated and the total is divided by the total number of days in the period.

Forward-Looking Statements

This press release contains forward-looking statements or information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact included in this press release, which address activities, events or developments that Orca expects or anticipates to occur in the future, are forward-looking statements. Forward-looking statements often contain terms such as may, will, should, anticipate, expect, continue, estimate, believe, project, forecast, plan, intend, target, outlook, focus, could and similar words suggesting future outcomes or statements regarding an outlook. More particularly, this press release contains, without limitation, forward-looking statements pertaining to the following: the Company’s expectations regarding the demand for natural gas and power supply; assessment by the Company of the merits of the appeal made by the Company pursuant to the Judgment; costs, outcomes and timing in respect to the outcome of the appeal of the Judgement; merit, outcomes, position and timing in respect of the Notice of Dispute; expectations in relation to the Notice of Dispute; extension of the License and the Company’s expectation to continue to actively engage with the GoT to progress the License extension; the ability of the Company to continue its operating activities subsequent to October 2026, when the License is set to expire; continued accrual of participating interest in respect of the Loan until the specified date; the receipt of the payment of arrears from TANESCO; and the payment by TANESCO of amounts owing under the Settlement Agreement; and the amount that PAET is expected to retain in relation to the Settlement Agreement. Actual results may differ materially from those anticipated in the forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, access to resources and infrastructure, performance or achievement since such expectations are inherently subject to significant business, economic, operational, competitive, political and social uncertainties and contingencies.

These forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control, and many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking statements made by the Company, including, but not limited to: uncertainties involving the Notice of Dispute and the Judgment; various uncertainties involved in the extension of the License; risk that meetings related to the Notice of Dispute are not held on the anticipated timing; risk the PSA will not be replaced; risk of decreased demand for production volumes from the Songo Songo gas field; risk the Songas Power Plant will shut down indefinitely; negative effect on the Company’s rights under the PSA and other agreements relating to its business in Tanzania; fluctuations in demand for natural gas and power supply in Tanzania; the Company’s average gas sales including the sale of Additional Gas are different than anticipated; risk that the Company may incur losses and legal expenses as a result of the Notice of Dispute and/or appeal of the Judgment; uncertainties regarding quantum of damages payable to the Company in respect of the Notice of Dispute; uncertainties regarding quantum of damages payable by the Company in respect of the appeal of the Judgment; risk that the budgeted expenditures, timing of the completion and anticipated benefits from the Company’s various development programs and studies in 2025 are different than expected; risk of damage to the Company’s infrastructure assets; failure to extend the License on favorable terms or at all; inability to continue the Company’s operating activities beyond the expiry of the License; inability to maintain gas sale contract discipline; the accrual of participating interest is different than expected; failure to receive payment of arrears from TANESCO; if any payment is eventually required in respect of the Judgment, that it will not be cost recoverable under the PSA; risk that TANESCO will not pay such amounts owing under the Settlement Agreement; changes to forecasts regarding future development capital spending and source of capital spending; risk of future restrictions on the movement of cash from Jersey, Mauritius or Tanzania; occurrence of circumstance or events which significantly impact the Company’s cash flow and liquidity and the Company’s ability cover its long-term and short-term obligations or fund planned capital expenditures; incurrence of losses from debtors in 2025; prolonged foreign exchange reserves deficiency in Tanzania; inability to convert Tanzanian shillings into US dollars or other hard currencies as and when required; discontinuation of work by the Company with the GoT on an alternative development plan for longer term field development; failure to obtain necessary regulatory approvals; risks regarding the uncertainty around evolution of Tanzanian legislation; risk of unanticipated effects regarding changes to the Company’s tax liabilities and the implementation of further legislation and the Company’s interpretation of the same; risk of a lack of access to Songas processing and transportation facilities; risk that the Company may be unable to complete additional field development to support the Songo Songo production profile through the life of the License; risks associated with the Company’s ability to complete sales of Additional Gas; negative effect on the Company’s rights under the PSA and other agreements relating to its business in Tanzania as a result of recently enacted legislation, as well as the risk that such legislation will create additional costs and time connected with the Company’s business in Tanzania; risk relating to the Company’s relationship with the GoT; the impact of general economic conditions in the areas in which the Company operates; civil unrest; risk of pandemic; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations; impact of local content regulations and variances in the interpretation and enforcement of such regulations; uncertainty regarding results through negotiations and/or exercise of legally available remedies; failure to successfully negotiate agreements; risks of non-payment by recipients of natural gas supplied by the Company; lack of certainty with respect to foreign legal systems, corruption, and other factors that are inconsistent with the rule of law; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; timing of receipt of, or failure to comply with, necessary permits and approvals; and potential damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s dealings with the GoT, TPDC and TANESCO, whether true or not; increased competition; the lack of availability of qualified personnel or management; fluctuations in commodity prices, foreign exchange or interest rates; stock market volatility; competition for, among other things, capital, oil and gas field services and skilled personnel; failure to obtain required equipment or replacement parts for field development; effect of changes to the PSA on the Company as a result of the implementation of new government policies for the oil and gas industry; inaccuracy in reserve estimates; incorrect forecasts in production and growth potential of the Company’s assets; inability to obtain required approvals of regulatory authorities; risks associated with negotiating with foreign governments; failure to successfully negotiate agreements; risk that the Company will not be able to fulfil its contractual obligations; risk that trade and other receivables may not be paid by the Company’s customers when due; the risk that the Company’s Tanzanian operations will not provide near term revenue earnings; and such additional risks listed under “Business Risks” in our management discussion and analysis for the three months ended March 31, 2025, and our management discussion and analysis for the year ended December 31, 2024. As a result of the foregoing, the Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by these forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive.

Such forward-looking statements are based on certain assumptions made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate in the circumstances, including, but not limited to: increased demand for gas supply; successful negotiation and execution of new gas sales contracts under the Gas Agreement; successful negotiation of the License extension on terms favorable to the Company; successful implementation of various development and study programs at the budgeted expenditures; accurate assessment by the Company of the merits of its claim under the Notice of Dispute and the appeal of the Judgment; that all capital allocation decisions will be based upon prudent economic evaluations and returns; successful maintenance of gas sale contract discipline on a go-forward basis pursuant to the Company’s gas supply agreements; that the Company will receive payment of arrears from TANESCO; the Company’s relationship with TPDC and the GoT; the current status of actions involved in the Notice of Dispute; accurate assessment by the Company of the merits of its rights and obligations in relation to TPDC and the GoT and other stakeholders in the Songo Songo gas field; receipt of required regulatory approvals; the Company’s ability to maintain strong commercial relationships with the GoT and other state and parastatal organizations and other stakeholders in the Songo Songo gas field; the current and future administration in Tanzania continues to honor the terms of the PSA and the Company’s other principal agreements; that there will continue to be no restrictions on the movement of cash from Mauritius, Jersey or Tanzania; that the Company will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and participation interest obligations as needed; the Company does not incur any losses from debtors in 2025; absence of circumstances or events that significant impact the Company’s cash flow and liquidity; the Company will continue to be able to convert Tanzanian shillings into US dollars; long term field development will be carried out as planned; continued work by the Company with the GoT on alternative development plan for longer term field development as anticipated; timing and amount of capital expenditures and source of funding are in line with forecasts; the Company’s ability to obtain necessary regulatory approvals; the anticipated supply and demand of natural gas are in line with the Company’s expectations; accurate assessment by the Company of the merits of appeal brought forward by the Company pursuant to the Judgment; that the amount of damages recoverable by the Company under the Notice of Dispute will be in line with expectations; the Company’s interpretation and prediction of the effects regarding changes to the Company’s tax liabilities and the implementation of further legislation is accurate in all material respects; the Company’s ability to obtain revenue earnings from its operations; access to customers and suppliers; availability of employees to carry out day-to-day operations, and other resources; that the Company will successfully negotiate agreements; receipt of required regulatory approvals; the ability of the Company to increase production as required to meet demand; infrastructure capacity; commodity prices will not deteriorate significantly; availability of skilled labour; uninterrupted access to infrastructure; the impact of increasing competition; conditions in general economic and financial markets; effects of regulation by governmental agencies; that the Company’s appeal of various tax assessments will be successful; current or, where applicable, proposed industry conditions, laws and regulations will continue in effect or as anticipated as described herein; the effect of any new environmental and climate change related regulations will not negatively impact the Company; and other matters.

The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The MIL Network –

May 15, 2025

MIL-OSI Russia: Chinese Foreign Minister Meets with New Sudanese Foreign Minister

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, May 14 (Xinhua) — Chinese Foreign Minister Wang Yi met with Omer Mohamed Ahmed Siddig, Sudan’s outgoing ambassador to China and new foreign minister, in Beijing on Wednesday.

Wang Yi, also a member of the Politburo of the CPC Central Committee, congratulated O. M. A. Siddig on his appointment as Sudanese Foreign Minister and expressed gratitude for his contribution to the development of China-Sudan relations during his time as ambassador to China.

Noting that this year marks the 10th anniversary of the establishment of strategic partnership between China and Sudan, Wang called on the two sides to implement the important consensus reached by the two heads of state and promote continuous fruitful results in bilateral relations to benefit the peoples of both countries.

The Chinese diplomat stressed that China firmly supports Sudan in protecting its sovereignty, independence and territorial integrity, as well as in achieving peace, stability and development as soon as possible. China will continue to provide Sudan with feasible humanitarian assistance, the Chinese Foreign Minister added.

O. M. A. Siddig, in turn, said that Sudan regards China as its most important partner and reliable friend, prioritizes cooperation with it, and will continue to firmly support the country in protecting its core interests. As Foreign Minister, he promised to make every effort to develop the strategic partnership between Sudan and China and to jointly implement important global initiatives put forward by China. –0–

MIL OSI Russia News –

May 15, 2025

MIL-OSI: Senvest Capital Inc. Reports Results for the First Quarter Ended March 31, 2025

Source: GlobeNewswire (MIL-OSI)

MONTREAL, May 14, 2025 (GLOBE NEWSWIRE) — Senvest Capital Inc. today reported a net loss attributable to common shareholders of ($332.0) million or ($136.14) per share for the three months ended March 31, 2025. This compares to net income attributable to common shareholders of $52.3 million or $21.17 per share for the same period in 2024

Financial statements are available online at Sedar+ www.sedarplus.ca

	CONSOLIDATED STATEMENTS OF INCOME
	(unaudited)
	(in millions of dollars, except per share amounts)
	For the three months ended
	03/31/2025		03/31/2024

Net income (loss) attributable to common shareholders	($332.0	)	$52.3

Diluted earnings (loss) per share attributable to common shareholders	($136.14	)	$21.17

Contact: George Malikotsis, Vice President Finance
(514) 281-8082
www.senvest.com

The MIL Network –

May 15, 2025

Category: Africa

UK reaffirms commitment to UN peacekeeping operations as Minister announces new funding for programmes

Minister for the Armed Forces, Luke Pollard, said:

Lord Collins of Highbury, FCDO Minister for Africa said:

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