NewzIntel.com

Category: Energy

  • MIL-OSI: ConnectM Provides Update to Stockholders on Buyout Group’s Offer

    Source: GlobeNewswire (MIL-OSI)

    MARLBOROUGH, Mass., June 02, 2025 (GLOBE NEWSWIRE) — ConnectM Technology Solutions, Inc. (OTC: CNTM) (“ConnectM” or the “Company”), a high-growth technology company on the leading edge of the modern energy economy, today issued an update to its stockholders regarding the recent buyout offer by a group of longstanding stockholders.

    ConnectM received a letter from Optimax Solutions Inc., on behalf of SriSid LLC, Arumilli LLC, and Win-Light Global Co Ltd (collectively, the “Buyout Group”), informing the Company that in light of ConnectM’s recent delays filing its Form 10-K and Form 10-Q reports, the Buyout Group have decided to pause their previously submitted buyout proposal and place further acquisition discussions on hold.

    The Buyout Group expressed continued support for ConnectM and its management team, particularly in regard to the comprehensive four-month recovery plan the Company recently announced, which is aimed at regaining compliance and relisting on major stock exchange like Nasdaq or NYSE. The Buyout Group stated that they view the successful execution of this plan as critical and indicated their willingness to reengage in buyout discussions upon ConnectM’s successful relisting.

    ConnectM’s Board of Directors and management team remain focused on implementing the strategic actions necessary to restore compliance and deliver long-term value to all stockholders.

    ConnectM intends to file its 2024 Annual Report and Q1 2025 Quarterly Reports in June 2025, which will show strong performance across all its operating segments.

    The Company appreciates the support and partnership of its major stockholders during this period.

    About ConnectM Technology Solutions, Inc.

    ConnectM is a constellation of companies powering the next generation of electrified equipment, mobility, and distributed energy—thus enabling a faster, smarter transition to a modern energy economy. The Company provides residential and light commercial service providers and original equipment manufacturers with a proprietary Energy Intelligence Network platform to accelerate the transition to all-electric heating, cooling, and transportation. Leveraging technology, data, artificial intelligence, and behavioral economics, ConnectM aims to lower energy costs and reduce carbon emissions globally.

    For more information, please visit: https://www.connectm.com/

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “continue,” “project” or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the “Cautionary Note Regarding Forward-Looking Statements” section of the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contact:

    Investor Relations
    ConnectM Technology Solutions, Inc.
    (617) 395-1333
    irpr@connectm.com

    The MIL Network –

  • MIL-OSI USA: During AI Hearing, Trahan Blasts GOP’s Massive Giveaway to Big Tech

    Source: United States House of Representatives – Congresswoman Lori Trahan (D-MA-03)

    WASHINGTON, DC – Today, during a House Energy and Commerce Committee hearing, Congresswoman Lori Trahan (MA-03) blasted House Republicans for supporting a ten-year moratorium on state legislation to protect Americans from harms caused by artificial intelligence (AI). The ban was included in the GOP’s reconciliation package passed by the Committee last week and set to be considered on the House floor as soon as today.
    CLICK HERE or the image below to view Trahan’s remarks during the Committee’s consideration of reconciliation legislation. A transcript is embedded below.

    “Under Republican leadership, this committee has failed time and time again to protect Americans’ privacy and safeguard our children online. GOP leaders have blocked whistleblower protections for tech workers who risk their livelihoods to shine a light on their employers’ privacy abuses. They killed comprehensive privacy legislation to minimize data collection and ensure proper use. They said no to simple transparency legislation so independent auditors could make sure Big Tech companies aren’t breaking the law,” Congresswoman Trahan said. “But what Republican members of this committee did find time to do last week – in the middle of the night by the way – is force through an unprecedented giveaway to the tech industry: A ten-year ban on state laws that could make AI safer for our constituents.”
    Last week, the House Energy and Commerce Committee marked up House Republicans’ reconciliation package that will cut $715 billion from Medicaid and eliminate health coverage for at least 13.7 million Americans. Included in that bill is a provision that would ban states from creating or implementing laws to limit potential harms of AI, effectively allowing Big Tech companies to deploy a rapidly changing technology without any accountability for its negative impacts.
    During debate over the legislation, Trahan spoke in support of an amendment filed by House Energy and Commerce Committee Ranking Member Frank Pallone, Jr. (NJ-06) to strike the 10-year moratorium on state AI regulation. Every Republican on the committee voted against the amendment, preserving the provision in the bill. In response to Republicans’ ban on AI regulation and its passage out of the Committee, hundreds of civil liberties and consumer protection organizations, as well as a bipartisan group of over 40 state Attorneys General, have expressed strong opposition, describing the harmful impact the ban would have on consumers by depriving them of rights duly provided by state legislatures.
    “Make no mistake. The families who have come to this committee and begged for us to act won’t benefit from this proposal, but you know who will? The Big Tech CEOs who were sitting behind Donald Trump at his inauguration,” Congresswoman Trahan continued.
    —————————————-
    Congresswoman Lori Trahan
    Remarks As Delivered
    House Energy and Commerce Committee Hearing on “AI Regulation and the Future of US Leadership”
    May 21, 2025
    I thank the Ranking Member for yielding.
    Under Republican leadership, this committee has failed time and time again to protect Americans’ privacy and safeguard our children online.
    GOP leaders have blocked whistleblower protections for tech workers who risk their livelihoods to shine a light on their employers’ privacy abuses. They killed comprehensive privacy legislation to minimize data collection and ensure proper use. They said no to simple transparency legislation so independent auditors could make sure Big Tech companies aren’t breaking the law.
    But what Republican members of this committee did find time to do last week – in the middle of the night by the way – is force through an unprecedented giveaway to the tech industry: A ten-year ban on state laws that could make AI safer for our constituents.
    Make no mistake. The families who have come to this committee and begged for us to act won’t benefit from this proposal, but you know who will? The Big Tech CEOs who were sitting behind Donald Trump at his inauguration.
    Now, we can agree that a patchwork of various state laws is not good for innovation, for business, or consumers. But this is a bad policy because it sets another disincentive for us to act urgently or even in time. All the while, Republicans are once again ceding Congress’s duty to protect Americans’ privacy to the very companies who are perpetrating the worst abuses online.
    You’re basically inviting the fox into the hen house.
    And you’re doing so under the justification that this will somehow motivate Congress to unify the patchwork of state laws currently in existence. But that hasn’t happened yet.
    Just look at what happened to the privacy bill that we crafted together on this committee. The moment that Big Tech started lobbying against it, the Republican Speaker and the Majority Leader caved. They killed the bill. And now you turn around and try to deceive the American people into accepting this ridiculous alternative?
    Come on. Our constituents aren’t stupid. They want real action from us to rein in the abuses of tech companies, not to give them blanket immunity to abuse our most sensitive data even more.
    At the same time, our Republican colleagues are complaining about Europe’s tech laws, which we can acknowledge are imperfect. But at least they had the guts to do something – literally anything – to make the internet better for the folks they represent. Shame on us if we don’t answer the same demands from the American people.
    I urge my colleagues to reject this giveaway to the same Big Tech companies that have stymied every attempt at updating our privacy laws. I want to urge my colleagues to vote no on the partisan reconciliation bill when the same leaders who killed our bipartisan privacy legislation bring it to the floor.
    And let’s just get to work in a bipartisan way to foster innovation and protect our constituents with sensible guardrails on Big Tech. Thank you. I yield back.
    ###

    MIL OSI USA News –

  • MIL-OSI: Election to Equinor’s board of directors

    Source: GlobeNewswire (MIL-OSI)

    In a meeting in the corporate assembly of Equinor ASA (OSE:EQNR, NYSE:EQNR) on 2 June 2025 Dawn Summers was elected as a new member of the board of directors of Equinor ASA.

    The corporate assembly re-elected Jon Erik Reinhardsen as chair and Anne Drinkwater as deputy chair of the board, in addition to re-election of Finn Bjørn Ruyter, Haakon Bruun-Hanssen, Mikael Karlsson, Fernanda Lopes Larsen and Tone Hegland Bachke as members of the board of directors. The current member, Jonathan Lewis will resign from the board of directors as of 30 June 2025. Dawn Summers is elected as a new member of the board of directors of Equinor ASA.

    The election of the shareholder representatives to the board of directors of Equinor ASA enters into effect from 1 July 2025, with the exception of Dawn Summers who is elected with effect from 1 September 2025, all with effect until the ordinary election of shareholder-representatives to the board of directors in June 2026.

    Further, the corporate assembly re-elected Hilde Møllerstad, as employee-representative and elected Frank Indreland Gundersen and Geir Leon Vadheim as new employee-representatives of the board of directors of Equinor ASA. Also, Anette Heggholmen, Terje Werner Hansen and Hans Einar Haldorsen were elected as deputy members for the employee-representatives of the board.

    The election of employee-representative members to the board of directors enters into effect from 1 July 2025 and is effective until the ordinary election of employee-representatives to the board of directors in 2027.

    Contacts:

    • Nils Morten Huseby, chair of the nomination committee
    • All enquiries to be directed through Equinor Corporate Press Office,
      Sissel Rinde, +47 412 60 584

    This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act

    The MIL Network –

  • MIL-OSI Canada: Saskatchewan Mining Week Celebrates Sector’s Importance to Province

    Source: Government of Canada regional news

    Released on June 2, 2025

    The Government of Saskatchewan is pleased to proclaim June 1 to June 7 as Saskatchewan Mining Week, an opportunity to recognize the important contributions of the people who work in the industry and the significant impact mining has on the provincial economy. 

    “Our world-class mining industry is key to the prosperous way of life we enjoy in Saskatchewan, creating good jobs, economic growth and a sustainable, secure future,” Energy and Resources Minister Colleen Young said. “As global demand for critical minerals continues to rise, we are increasing production in core sectors like potash and uranium and seeing growth in emerging commodities like helium, lithium, copper and zinc. This year’s Mining Week theme of Talent, Technology and Trade: Opportunities for Saskatchewan’s Mining Sector reflects our optimism for the future of mining in our province.”  

    The Saskatchewan mining industry directly or indirectly employs over 30,000 people and procures billions of dollars in goods and services annually from local mining supplier businesses. Mining is a major source of private investment and generates government revenue to fund the programs and services Saskatchewan people rely on, like education and health care.

    “In the next decade, Saskatchewan’s growing mining industry will need 15,000 new employees in rewarding careers like trades and engineering. To increase the mining labour pool, we are promoting career awareness of prevalent and critical careers and showcasing some of the innovative ways that mining companies and their partners are training and attracting the new generation of talented employees that underpin the success of Saskatchewan’s mining sector,” Saskatchewan Mining Association President Pam Schwann said.

    Saskatchewan is home to 27 of the 34 minerals on Canada’s critical minerals list. In 2024, potash production reached an all-time high of 15.1 million tonnes of potassium oxide, while uranium production and sales reached record highs of 16,700 tonnes and $2.6 billion, respectively. Projects in these and other critical minerals like helium, lithium, copper and zinc continue to advance along with the Saskatchewan Research Council’s Rare Earth Processing facility, which has begun producing rare earth metals at a commercial scale.  

    With an abundance of resources, competitive incentives and a predictable and stable regulatory framework, Saskatchewan is one of the best places in the world to invest in resource development. The Fraser Institute’s annual survey of mining companies consistently ranks Saskatchewan as the top jurisdiction in Canada and the top three in the world for mining investment competitiveness. 

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI USA: CFTC Names Paul Hayeck as Acting Director of Division of Enforcement

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — Commodity Futures Trading Commission Acting Chairman Caroline D. Pham today announced Paul G. Hayeck as the Acting Director of the Division of Enforcement. Hayeck has served at the CFTC for 25 years and has been a deputy director in the Division of Enforcement since 2013. He will continue to serve as the acting chief of the Division’s Complex Fraud Task Force.
    “I’ve been impressed with Paul’s deep expertise and skill since I was a CFTC enforcement intern over 15 years ago,” said Acting Chairman Pham. “Paul’s unwavering commitment to integrity and fairness is the kind of strong leadership we need at the CFTC. His accomplishments as Acting Chief of the Complex Fraud Task Force and his extensive experience at the CFTC make him well suited to lead the Division of Enforcement. I’ve never been more confident in the CFTC’s mission to protect our markets, hold fraudsters accountable, and help victims with Paul in charge.”
    “I want to thank Acting Chairman Pham for the opportunity to lead the Division as we get back to basics and focus our resources and abilities on our core mission to prevent fraud, manipulation, and abuse in our markets,” Hayeck said.
    Throughout his career, Hayeck has represented the CFTC in numerous federal courts as litigation counsel in cases involving a broad range of Commodity Exchange Act violations, including market manipulation and complex fraud, with a particular focus in energy trading cases. Among other noteworthy cases, Hayeck led the division’s litigation team in the landmark case of CFTC v. Parnon Energy Inc., et al. in the U.S. District Court for the Southern District of New York, which resulted in a favorable opinion for the CFTC regarding its jurisdiction. 
    Prior to joining the CFTC, Hayeck was a partner in a law firm in Boston where he focused on commercial litigation. He also previously worked as litigation counsel for the Federal Deposit Insurance Corporation. In these positions, Hayeck frequently appeared in numerous federal and state courts. 
    Hayeck holds an LL.M. in banking law and a J.D. from Boston University School of Law. He is a graduate of the College of the Holy Cross, where he received a Bachelor of Arts in economics.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Farage fossil fuel free-for-all a disaster for people and planet

    Source: Scottish Greens

    02 Jun 2025 Climate Energy

    Leaving fossil fuels in the ground and going green is the only way that we can ensure a liveable planet and a sustainable economy

    More in Climate

    Nigel Farage’s plan to boost the profits of fossil fuel companies would destroy investment in the cheap, green renewable energy that Scotland needs, say the Scottish Greens.

    The comments followed a press conference given by Farage, leader of Reform UK, in Aberdeen on Monday 2nd June.

    Reform claimed that they would grant carte blanche to new oil and gas licenses in the North Sea, support fracking, and open new coal mines if in power. In 2024 nearly half of Reform’s donations were linked to climate denial and fossil fuel interests.

    Whilst North Sea oil and gas licenses are reserved to the UK Government, powers over fracking licenses are devolved. The Scottish Parliament voted to ban fracking in Scotland in 2017, and the Scottish Government banned new coal mining in 2022.

    Commenting further, Scottish Green spokesperson for Net Zero and Energy, Patrick Harvie said:

    “Far from being an anti-establishment party, Reform has been courting donations from rich oil and gas moguls who profit from climate breakdown.

    “So it’s no surprise that Farage and his cronies are desperate to do everything they can to shore up the astronomical profits of global corporate interests by promising a carte blanche to fossil fuel giants in the North Sea and across Scotland.

    “Investing in clean, green renewable energy is our best defence against global oil and gas prices, ensuring proper energy security and lower bills.

    “It’s also the best way to protect the long term job security of our world class energy workforce in Scotland – creating high paid, sustainable and secure jobs for decades to come. More than 47,000 people across Scotland are already employed directly or indirectly in the renewables industry in Scotland.

    “Rather than being a party for the people, Reform are happy to stick to a broken energy system that is harmful for people and planet.

    “Leaving fossil fuels in the ground and going green is the only way that we can ensure a liveable future for generations to come.”

    MIL OSI United Kingdom –

  • MIL-OSI: Superior Energy Services Announces Appointment Of Neil Fletcher As Senior Vice President Of Business Development

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, June 02, 2025 (GLOBE NEWSWIRE) — Superior Energy Services, Inc. (the “Company”) today announced the appointment of Neil Fletcher as Senior Vice President of Business Development. This strategic leadership role underscores the Company’s commitment to an integrated, enterprise-wide approach to growth and customer engagement.

    In this newly created position, Mr. Fletcher will be responsible for driving business development and marketing initiatives across all business units. His focus will include expanding customer relationships, identifying new market opportunities, and enhancing cross-selling of both established and emerging products and services. He will report directly to Jim Brown, President and Chief Operating Officer.

    “Neil’s demonstrated leadership and strategic vision make him the ideal choice to drive integration and growth across our global operations and lead our business development efforts,” said Jim Brown. “I’m confident that under Neil’s leadership we will unlock new opportunities and deliver even greater value to our customers.”

    Mr. Fletcher joined the Company following its acquisition of Rival Downhole Tools, where he served as Chief Executive Officer. Most recently, he held the role of Senior Vice President of Global Operations within the Company’s rentals division, where he successfully led the integration of Rival and Stabil Drill—streamlining operations and aligning strategic goals across the organization.

    With more than two decades of experience spanning operations, sales, engineering, and business development throughout the Western Hemisphere, Mr. Fletcher brings a deep understanding of the energy services landscape. He holds an MBA in Global Energy from the University of Houston’s Bauer College of Business and a B.A. in Marketing from the University of Louisiana at Lafayette.

    This appointment marks a significant step in the Company’s ongoing transformation, as it continues to align its capabilities with the evolving needs of its global customer base.

    For more information about Superior Energy Services, please visit www.superiorenergy.com

    About Superior Energy Services
    Superior Energy Services serves the drilling, completion and production-related needs of oil and gas companies through a diversified portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells. In addition to operations in North America, both on land and offshore, Superior Energy Services operates in approximately 47 countries internationally. For more information, visit: www.superiorenergy.com.

    Forward-Looking Statements
    This press release contains forward-looking statements that reflect our current views regarding the Company’s financial position and results, financial performance, liquidity, strategic alternatives (including dispositions, acquisitions, and the timing thereof), market outlook, future capital needs, capital allocation plans, business strategies and other plans and objectives of our management for future operations and activities. These statements are based on certain assumptions and analyses made by the Company’s management in light of its experience and prevailing circumstances on the date such statements are made. Such forward-looking statements, and the assumptions on which they are based, are inherently speculative and are subject to a number of risks and uncertainties outside of the Company’s control, including but not limited to conditions in the oil and gas industry, U.S. and global market and economic conditions generally and macroeconomic conditions worldwide, (including inflation, interest rates, supply chain disruptions and capital and credit markets conditions) that could cause the Company’s actual results to differ materially from such statements. We undertake no obligation to update these statements except as required by law.

    FOR FURTHER INFORMATION CONTACT:
    Joanna Clark, Corporate Secretary
    1001 Louisiana St., Suite 2900
    Houston, TX 77002
    Investor Relations, ir@superiorenergy.com, (713) 654-2200

    The MIL Network –

  • MIL-OSI Security: IAEA Team Concludes Site and External Events Design Review for El Salvador’s First Nuclear Power Plant

    Source: International Atomic Energy Agency – IAEA

    An IAEA team of experts visited the candidate sites of El Salvador’s first nuclear power plant during a Site and External Events Design Review Service mission. (Photo: CEL)

    An International Atomic Energy Agency (IAEA) team of experts has concluded a six-day safety review of El Salvador’s site selection process for its first nuclear power plant (NPP). The Central American country is embarking on a nuclear power programme to diversify its energy mix and to provide a clean and reliable source of energy to support economic development.

    The Site and External Events Design Review Service (SEED) mission, which took place between 26 to 31 May, reviewed El Salvador’s adherence to IAEA guidance on the site selection process. The SEED mission was carried out at the request of the Government of El Salvador and hosted by the Organization for the Implementation of the Nuclear Energy Program in El Salvador (OIPEN) and the Executive Hydroelectric Commission of the Lempa River (CEL). The SEED mission was the first of its kind in El Salvador.

    El Salvador is completing the site selection process based on a comprehensive methodology that integrates geospatial data analysis, national regulations and existing public infrastructure.

    The SEED review team comprised three experts from Japan, the United Kingdom and the United States, as well as two IAEA staff members. They reviewed the site selection report, together with the siting process, siting criteria and data collection process for siting activities.

    The team also visited and observed the candidate sites located in Chalatenango – about 40 kilometres northeast of the capital San Salvador – and San Vicente – about 70 kilometres east of San Salvador.

    In addition to the SEED review mission, the IAEA provided a SEED Capacity Building Workshop to support site evaluation, which includes the site characterization stage. During the workshop, external experts and participants engaged in discussions that will contribute to future progress in the site evaluation process.

    “We confirmed that CEL independently developed exclusion criteria for site screening and effectively narrowed down the areas of the country with the lowest external hazard risks. This can be considered a good practice for minimizing risks,” said mission team leader Kazuyuki Nagasawa, Senior Nuclear Safety Officer at the IAEA.

    The team provided recommendations to improve the quality and to optimize the site selection process, aiming to select the most favourable site. This optimization seeks to minimize the potential for the selected site to be found unsuitable during the site characterization stage. The factors to be considered include seismic, flooding and volcanic hazards. It’s also important to balance site characteristics with specific design features, site protection measures and administrative procedures from the early stages of the site selection process.

    “From the early stages of the site selection process, we have been guided by the technical guidance of the IAEA, rigorously applying its physical safety standards to ensure that this process follows a technical, transparent and responsible approach for all Salvadorans,” said Daniel Alvarez, President of CEL and Honorary Director of OIPEN.

    OIPEN and CEL will continue to receive technical support from the IAEA, as they advance from the site selection stage and move into the subsequent site characterization stage, in line with the IAEA Specific Safety Guide on Site Survey and Site Selection for Nuclear Installations, as well as other relevant Safety Guides for external hazards assessment.

    The final SEED mission report will be delivered to the Government of El Salvador within three months.

    About Site and External Events Design Review Service (SEED) missions

    SEED missions are expert review missions that assist countries going through different stages in the development of a nuclear power programme. The service offers a choice of modules in which to focus the review, such as site selection, site assessment and design of structures, systems and components, taking into consideration site specific external and internal hazards.

    In the case of site selection review, SEED missions assess the appropriate consideration of the safety issues in the site selection process.

    MIL Security OSI –

  • MIL-OSI Africa: Etu Energias Targets 80,000 Barrels Per Day (BPD), Joins Angola Oil & Gas (AOG) 2025 as Gold Sponsor

    Source: Africa Press Organisation – English (2) – Report:

    LUANDA, Angola, June 2, 2025/APO Group/ —

    Angolan private energy company Etu Energias has joined this year’s edition of the Angola Oil & Gas (AOG) conference as a Gold Sponsor. The sponsorship reflects the company’s commitment to supporting Angola’s oil and gas production goals, as it seeks to sustain output above one million barrels per day (bpd) beyond 2027. For its part, Etu Energias targets 80,000 barrels per day (bpd) by 2030, and the AOG sponsorship highlights a broader objective of engaging with stakeholders to achieve this goal.

    Etu Energias’ sponsorship comes as the company undertakes an ambitious exploration campaign in Angola. The company signed a Risk Service Contract for onshore Block CON 4 in May 2025, outlining a 25-year operating licensing, including a five-year exploration timeframe and 20-year production period. To date, Etu Energias – alongside block partners Sonangol and Gesprocon – have completed the first phase of studies for the block and have defined a seismic survey. The milestone reflects a broader trend by the company to scale-up its exploration and production. By 2030, the company seeks to increase its oil reserves to 387 million barrels. The AOG sponsorship supports this goal by offering a platform for engagement and deal-signing.

    AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    As Angola’s largest private oil producer, Etu Energias has stakes in eight exploration projects, 10 development projects and seven redevelopment projects. The company targets a series of developments in 2025, all of which support the advancement of underexplored blocks in Angola. Notably, Etu Energias plans to complete deforestation and demining for Block FS/FST in 2025, with the first exploration well expected to be spud this year. At offshore Block 2/05, the company plans to complete exploration studies this year, with drilling set for 2025/2026. To support block acquisition, Etu Energias is also planning to hold an Initial Public Offering (IPO) in 2026, aimed at strengthening its financial capacity. The IPO will not only support debt reduction, but provide greater access to a wider investment pool.

    Etu Energias’ exploration and production outlook builds on a highly-successful year in 2024, whereby the company expanded its portfolio of operated and non-operated assets from 6 to 15. The company’s oil reserves increased by 2.5 times during this period, reaching 106 million barrels. Major milestones during the year include an increase in block acquisitions. Offshore, the company increased its stake in Block 2/05 from 30% to 36%; in Block 14 from 20% to 29%; in Block 14K from 10% to 14.5%; and in Block 17/06 from 5% to 7.5%. Looking ahead, these acquisitions are expected to increase the company’s production capacity as it strives to unlock new deposits in Angola.

    Beyond the upstream sector, Etu Energias strives to expand its downstream portfolio, following the launch of its lubricant line in 2024. Launched in collaboration with Glide Petroleum, the 1,000-ton-per-month line is expected to start production in 2025. The project aligns with goals by Etu Energias to capture 25% share of the market by 2029. Etu Energias’ AOG 2025 sponsorship will support Etu Energias’ goals, offering an opportunity for the company to engage with industry leaders, connect with global partners and outline the company’s long-term approach to exploration and production.

    MIL OSI Africa –

  • MIL-OSI USA: Tight oil production in Permian drives growth in onshore U.S. Lower 48 states production

    Source: US Energy Information Administration

    In-brief analysis

    June 2, 2025

    Data source: U.S. Energy Information Administration, Short Term Energy Outlook (Table 4a and Table 10b), May 2025 and Enverus
    Note: L48=U.S. Lower 48 states

    Onshore crude oil production in the U.S. Lower 48 states (L48) has more than tripled since January 2010, driven by tight oil production growth in the Permian region. Onshore crude oil production is made up of both legacy oil production, primarily from vertically drilled wells, and newer tight oil production, primarily from horizontally drilled wells.

    Legacy production decreased from 2.6 million barrels per day (b/d) in 2010 to 2.1 million b/d in 2024. Over the same period, tight oil production increased from 0.8 million b/d to 8.9 million b/d, accounting for 81% of total onshore L48 oil production in 2024. The Permian accounted for 65% of all tight oil production growth and 51% of L48 oil production in 2024.

    Since 2010, U.S. tight oil production within and outside of the Permian has generally grown. Tight oil production from non-Permian plays decreased from 2015 to 2017 in a period of low oil prices. At the beginning of 2020, tight oil production from the Permian region was essentially equal to tight oil production from all other producing regions in the United States. Permian and non-Permian oil production both fell significantly in response to crude oil prices falling below $50 per barrel (b) related to the COVID-19 pandemic, with production reaching annual lows in May 2020. After 2020, however, production in the Permian increased at a faster rate than production outside the Permian.

    Data source: U.S. Energy Information Administration, Short Term Energy Outlook (Table 10b), May 2025 and Enverus
    Note: WTI=West Texas Intermediate

    Tight oil production in the Permian began growing again in 2021 as crude oil prices rose, but production in the non-Permian remained low. After 2020, Permian tight oil production grew at a slower rate than 2017–19, but by December 2024, Permian production reached 5.6 million b/d, up 45% compared with 2020. In contrast, non-Permian tight oil production decreased by 14.9% (0.6 million b/d) based on the annual average oil volumes from 2020 to 2024.

    Within the Permian region, the Wolfcamp, Bone Spring, and Spraberry plays produce most of the tight oil, accounting for 99% of Permian tight oil production in 2024. The Wolfcamp play, the largest of the three, has driven growth in the Permian and produced 3.4 million b/d of tight oil in 2024, which was equivalent to production from all other non-Permian tight oil plays combined. The Spraberry and Bone Spring combined produced an average 2.1 million b/d in 2024.

    Data source: U.S. Energy Information Administration, Short Term Energy Outlook (Table 10b), May 2025 and Enverus

    Principal contributor: Troy Cook

    MIL OSI USA News –

  • MIL-OSI Economics: ACP Announces Former House Republican Conference General Counsel Tara Hupman as Vice President of External Affairs

    Source: American Clean Power Association (ACP)

    Headline: ACP Announces Former House Republican Conference General Counsel Tara Hupman as Vice President of External Affairs

    WASHINGTON D.C., June 2, 2025 —  The American Clean Power Association (ACP) today announced that Tara Hupman will join ACP as Vice President of External Affairs, effective June 3. A talented congressional and public policy strategist, Hupman has strong expertise and experience across key congressional committees. She brings more than a decade of senior-level experience on Capitol Hill, and will strengthen ACP’s advocacy and political engagement at a critical time for the clean energy industry.
    “Tara is a highly respected leader with deep relationships across Congressional leadership and the committees that shape America’s energy future,” said Frank Macchiarola, ACP Chief Advocacy Officer. “Her skill and experience will be instrumental in advancing our advocacy priorities. Our industry is the fastest growing part of the energy sector and to meet growing electricity demand, we need policies in place to accelerate the deployment of additional clean power. Tara will play a critical role in helping to make this happen. I’m pleased to welcome Tara to the ACP team.”
    In her new role, Hupman will help lead ACP’s government affairs strategy, including federal outreach, PAC operations, and mobilization efforts. She will also work closely with ACP’s state affairs team to ensure alignment between state and federal advocacy priorities.
    Hupman most recently served as General Counsel to the House Republican Conference under Chairwoman Lisa McClain. She also previously served as Chief Counsel for the House Energy and Commerce Committee and the House Natural Resources Committee. Additionally, she held counsel roles on the House Transportation and Infrastructure Committee and the Senate Small Business Committee, and served as a professional staff member on the Senate Committee on Homeland Security & Governmental Affairs.

    MIL OSI Economics –

  • MIL-Evening Report: Human Rights Watch warns renewed fighting threatens West Papua civilians

    Asia Pacific Report

    An escalation in fighting between Indonesian security forces and Papuan pro-independence fighters in West Papua has seriously threatened the security of the largely indigenous population, says Human Rights Watch in a new report.

    The human rights watchdog warned that all parties to the conflict are obligated to abide by international humanitarian law, also called the laws of war.

    The security forces’ military operations in the densely forested Central Highlands areas are accused of killing and wounding dozens of civilians with drone strikes and the indiscriminate use of explosive munitions, and displaced thousands of indigenous Papuans, said the report.

    The National Liberation Army of West Papua, the armed wing of the Free Papua Movement, has claimed responsibility in the killing of 17 alleged miners between April 6 and April 9.

    “The Indonesian military has a long history of abuses in West Papua that poses a particular risk to the Indigenous communities,” said Meenakshi Ganguly, deputy Asia director of Human Rights Watch.

    “Concerned governments need to press the Prabowo [Subianto] administration and Papuan separatist armed groups to abide by the laws of war.”

    The fighting escalated after the attack on the alleged miners, which the armed group accused of being targeted soldiers or military informers.

    Operation Habema
    The Indonesian military escalated its ongoing operations, called Operation Habema, in West Papua’s six provinces, especially in the Central Highlands, where Papuan militant groups have been active for more than four decades.

    On May 14, the military said that it had killed 18 resistance fighters in Intan Jaya regency, and that it had recovered weapons including rifles, bows and arrows, communications equipment, and Morning Star flags — the symbol of Papuan resistance.

    Further military operations have allegedly resulted in burning down villages and attacks on churches. Papuan activists and pastors told Human Rights Watch that government forces treated all Papuan forest dwellers who owned and routinely used bows and arrows for hunting as “combatants”.

    Information about abuses has been difficult to corroborate because the hostilities are occurring in remote areas in Intan Jaya, Yahukimo, Nduga, and Pegunungan Bintang regencies.

    Pastors, church workers, and local journalists interviewed by Human Rights Watch said that Indonesian forces had been using drones and helicopter gunships to drop bombs.

    “Civilians from the Korowai tribe community, known for their tall treehouse dwellings, have been harmed in these attacks, and have desperately fled the fighting,” said the Human Rights Watch report.

    “Displaced villagers, mostly from Intan Jaya, have sought shelter and refuge in churches in Sugapa, the capital of the regency.”

    Resistance allegations
    The armed resistance group has made allegations, which Human Rights Watch could not corroborate, that the Indonesian military attacks harmed civilians.

    It reported that a mortar or rocket attack outside a church in Ilaga, Puncak regency, hit two young men on May 6, killing one of them, Deris Kogoya, an 18-year-old student.

    The group said that the Indonesian military attack on May 14, in which the military claimed all 18 people killed were pro-independence combatants, mostly killed civilians.

    Ronald Rischardt Tapilatu, pastor of the Evangelical Christian Church of the Land of Papua, said that at least 3 civilians were among the 18 bodies. Human Rights Watch has a list of the 18 killed, which includes 1 known child.

    The daughter of Hetina Mirip said her mother was found dead on May 17 near her house in Sugapa, while Indonesian soldiers surrounded their village. She wrote that the soldiers tried to cremate and bury her mother’s body.

    A military spokesman denied the shooting.

    One evident impact of the renewed fighting is that thousands of indigenous Papuans have been forced to flee their ancestral lands.

    Seven villages attacked
    The Vanuatu-based United Liberation Movement for West Papua (ULMWP) reported that the military had attacked seven villages in Ilaga with drones and airstrikes, forcing many women and children to flee their homes. Media reports said that it was in Gome, Puncak regency.

    International humanitarian law obligates all warring parties to distinguish at all times between combatants and civilians. Civilians may never be the target of attack.

    Warring parties are required to take all feasible precautions to minimise harm to civilians and civilian objects, such as homes, shops, and schools. Attacks may target only combatants and military objectives.

    Attacks that target civilians or fail to discriminate between combatants and civilians, or that would cause disproportionate harm to the civilian population compared to the anticipated military gain, are prohibited.

    Parties must treat everyone in their custody humanely, not take hostages, and facilitate the delivery of humanitarian aid.

    The Free Papua Movement has long sought self-determination and independence in West Papua, on the grounds that the Indonesian government-controlled “Act of Free Choice” in 1969 was illegitimate and did not involve indigenous Papuans.

    It advocates holding a new, fair, and transparent referendum, and backs armed resistance.

    Vast conflict area
    Human Rights Watch reports that the conflict areas, including Intan Jaya, are on the northern side of Mt Grasberg, spanning a vast area from Sugapa to Oksibil in the Pegunungan Bintang regency, approximately 425 km long.

    Sugapa is also known as the site of Wabu Block, which holds approximately 2.3 million kilos of gold, making it one of Indonesia’s five largest known gold reserves.

    Wabu Block is currently under the licensing process of the Indonesian Ministry of Energy and Mineral Resources.

    “Papuans have endured decades of systemic racism, heightening concerns of further atrocities,” HRW’s Asia director Ganguly said.

    “Both the Indonesian military and Papuan armed groups need to comply with international standards that protect civilians.”

    Republished from Human Rights Watch.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Ambiq Names Jeff Winzeler as Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, June 02, 2025 (GLOBE NEWSWIRE) — Ambiq®, a technology leader in ultra-low-power semiconductor solutions for edge AI, is pleased to announce Jeff Winzeler as Ambiq’s new Chief Financial Officer (CFO).

    Jeff Winzeler brings extensive CFO and COO experience in the semiconductor and renewable energy industries. He has successfully led global finance teams at both private and public startups, including Kandou AI, Everspin Technologies, Avnera, Rackwise, Solar Power Incorporated, and International DisplayWorks.

    Throughout his career living and working in the U.S., Asia, Europe, and the Middle East, Winzeler has raised over $1 billion in equity and debt financing to fuel business growth while managing Finance, Information Technology, Human Relations, Operations, Procurement, and Investor Relations.

    “We are excited to welcome Jeff to Ambiq’s executive team,” says Fumihide Esaka, CEO of Ambiq. “We are confident that his proven track record in successfully leading finance organizations and operations will help Ambiq’s momentum as we enter into the next stage of our company’s growth.”

    “I’m thrilled to join Ambiq at such a pivotal time in the edge AI and ultra-low-power computing space,”  says Jeff Winzeler, CFO of Ambiq. “The company’s innovative technology and strong market position create an exceptional foundation for sustainable growth. I look forward to working with the talented team to maximize financial performance and deliver value to our stakeholders as we scale the business globally.” 

    Ambiq

    Our mission is to enable intelligence (artificial intelligence (AI) and beyond) everywhere by delivering the lowest power semiconductor solutions. We enable our customers to deliver artificial intelligence compute at the edge where power consumption challenges are the most profound. Our technology innovations, built on the patented and proprietary subthreshold power optimized technology (SPOT), fundamentally deliver a multi-fold improvement in power consumption over traditional semiconductor designs. We’ve powered over 270 million devices today. For more information, visit www.ambiq.com.

    Contact

    Charlene Wan 
    VP of Corporate Marketing and Investor Relations 
    cwan@ambiq.com 
    +1.512.879.2850

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ec4d5b10-4442-4b7b-a3a6-cf82b235d66c

    The MIL Network –

  • MIL-OSI: Solar Alliance Energy, Inc. Announces Q1 Earnings, Continued Progress

    Source: GlobeNewswire (MIL-OSI)

    (figures in Canadian dollars)

    TORONTO and KNOXVILLE, Tenn., June 02, 2025 (GLOBE NEWSWIRE) — Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTC: SAENF), a leading solar energy solutions provider focused on the commercial and utility solar sectors, announces it has filed its unaudited financial results for the three months ended March 31, 2025. The Company’s Financial Statements and related Management’s Discussion and Analysis are available under the Company’s profile at www.sedarplus.ca.

    “Solar Alliance’s main activity in Q1 2025, was the build-out of a large solar energy project for major repeat customer located in Kentucky. Due to unusually severe weather in Kentucky, which included widespread flooding, power outages, and tornadoes throughout the state, the project experienced delays in the quarter. This led to a reduced level of activity and a decline in revenues to $835,609, in Q1 2025 compared to $1,604,326, in Q1 2024. “As the severe weather setbacks subside, the company is coordinating closely with our client and our partners to expedite delivery of the project,” said CEO Brian Timmons. “This contract is expected to be concluded in the second quarter of 2025.”

    “Solar Alliance continues to see strong demand for commercial solar projects, and we remain focused on these larger projects, and community solar projects to generate meaningful growth. In addition to executing on larger projects, to the Company continues to service a steady flow of renewable energy projects for small and medium-sized businesses in rural communities. Looking ahead, we continue to target full-year profitability for 2025 as we focus on opportunities in the Southeast U.S commercial solar sector,” concluded Timmons.

    Key financial highlights for Q1, 2024

    • Revenue for the three months ended March 31, 2025, was $835,609 compared to $1,604,326 in the comparative period in 2024.
    • Cost of sales of $882,092 (Q1, 2024: $1,01,4394) resulting in a gross deficit of $46,483 (Q1, 2024: profit $585,932).
    • Net deficit of $474,277 (Q1, 2024: Net Income $141,303).
    • Cash balance of $13,111.
    • Total expenses of $424,065 (Q1, 2024: $451,188).

    Key business highlights and outlook

    The Company continues to target larger customers for solar system sales and installations, specifically for utility and commercial customers. The Company’s business development activity is now engaged in assessing specific projects of a scale up to 5MWs. The board believes the Company has a competitive advantage and can offer a compelling proposition in this segment of the market. In this regard, the Company’s track record and engagement with local power companies and progressive, high-quality corporate customers evidences its capacity to successfully undertake solar projects in the multi-megawatt range.

    While pursuing a determined, new focus on larger, commercial and local community solar projects, with a view to accelerating growth rapidly, the Company will continue, as a base level activity, to service the demand from small and medium-sized businesses in rural communities. The strength of demand for projects at this size level could be impacted by curtailment of certain incentives, referred to below, arising from budgetary developments arising from the current political background, referred to below.

    Corporate growth opportunities. The Company is also pursuing corporate opportunities to expand through partnerships, joint ventures or other initiatives that meet the Company’s criteria of profitability, market opportunity and strong management teams.

    Brian Timmons, CEO


    About Solar Alliance Energy Inc. (    www.solaralliance.com)

    Solar Alliance is an energy solutions provider focused on the commercial, utility and community solar sectors. Our experienced team of solar professionals reduces or eliminates customers’ vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions. Solar Alliance’s strategy is to ultimately build, own and operate our own solar assets while also generating stable revenue through the sale and installation of solar projects to commercial and utility community customers.

    Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute Forward-looking statements.

    The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information in this news release includes, but is not limited to, statements with respect to the resumption of trading of the Company’s common shares. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include but are not limited to: the ability to complete the Company’s projects on schedule or at all, uncertainties related to the ability to raise sufficient capital; changes in economic conditions or financial markets; litigation, legislative or other judicial, regulatory, legislative and political competitive developments; technological or operational difficulties; the ability to maintain revenue growth; the ability to execute on the Company’s strategies; the ability to complete the Company’s current and backlog of solar projects; the ability to grow the Company’s market share; the high growth rate of the US solar industry; the ability to convert the backlog of projects into revenue; the expected timing of the construction and completion of the 1500 kW Kentucky solar projects; the targeting of larger customers; the ability to predict and counteract the effects, should they re-emerge, of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19, on the construction sector, capital market conditions, restriction on labour and international travel and supply chains; potential corporate growth opportunities and the ability to execute on the key objectives in 2025. Consequently, actual results may vary materially from those described in the forward-looking statements.

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

    The MIL Network –

  • MIL-OSI: Trump Executive Order Fuels Regulatory Shift—Bitcoin Solaris Positioned to Lead Utility-Driven Crypto Era

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, June 02, 2025 (GLOBE NEWSWIRE) — In a sweeping policy move, President Trump has signed an executive order aimed at accelerating the development of a U.S.-led digital asset infrastructure that prioritizes utility, transparency, and regulatory alignment. As Washington redefines its approach to crypto regulation, Bitcoin Solaris (BTC-S) emerges as a key beneficiary—poised to thrive in a landscape where technical innovation and compliance are no longer mutually exclusive.

    The executive order marks a pivotal moment in crypto’s evolution, signaling a shift away from speculative cycles and toward practical, scalable ecosystems. Projects designed with regulatory foresight—especially those that enable real-world use cases—are expected to take the lead.

    Bitcoin Solaris: Aligned with the New Regulatory Standard
    Bitcoin Solaris was built for this moment. With a hybrid Proof-of-Work/Delegated Proof-of-Stake consensus model, BTC-S combines robust security with lightning-fast performance and energy efficiency—meeting emerging compliance and sustainability expectations.

    Key highlights of the Bitcoin Solaris network include:

    • Energy Efficiency: 99.95% lower consumption than traditional mining networks
    • Mobile-First Mining: The Solaris Nova App allows mining directly from mobile devices
    • Smart Contract Capabilities: Built with Rust, enabling DeFi, NFTs, gaming, and enterprise apps
    • Cross-Chain Integration: Native bridges to Solana for seamless interoperability
    • Regulatory-Ready Governance: Slashing and dynamic validator elections ensure network integrity

    The Fastest-Growing Crypto of 2025? Explore BTC-S Now

    Explosive Momentum: Presale That’s Rewriting Records

    With only 8 weeks left, the Bitcoin Solaris presale is proving to be one of the shortest and most explosive in crypto history. The numbers speak for themselves: over 11,000 unique users already onboard, and $1.8M+ raised. The current price is $6, moving to $7 in the next phase—on the way to a $20 launch.

    Investors are jumping in not just for speculative gains, but for utility-driven upside. As regulatory clarity fuels institutional confidence, BTC-S is quickly becoming the smart money’s next favorite asset.

    Referral Program That Rewards Everyone

    Bitcoin Solaris’s Double Rewards Referral Program turns community members into growth catalysts. Here’s how it works:

    • Referrers receive a 5% commission in BTC-S for every purchase made through their link.
    • Referred users also get a 5% bonus on their purchase.

    This dual-incentive approach isn’t just generous—it’s smart. It builds grassroots momentum, turns everyday crypto users into evangelists, and fosters long-term engagement.

    To join, users simply log in at bitcoinsolaris.com, grab their referral link, and share it through social platforms or directly with their network.

    Why Influencers Are Talking

    As the presale gains steam, the broader crypto community is paying attention. A detailed review by Token Empire covers how Bitcoin Solaris is building real momentum while other projects chase trends. With mentions spreading across Telegram and X, it’s clear this is not a quiet launch—it’s a coordinated wave.

    Final Thoughts: Regulatory Winds Favor the Prepared

    President Trump’s executive order is merely the spark. The real fire is being built by projects that align with the future of compliant, scalable, and accessible blockchain ecosystems. Bitcoin Solaris doesn’t just meet those standards—it anticipates them.

    With sustainable mining, mobile accessibility, and an infrastructure built for long-term value, BTC-S offers something rare in crypto: clarity, utility, and regulatory foresight. For early investors, the timing couldn’t be better.

    For more information:
    Website: https://www.bitcoinsolaris.com
     Telegram: https://t.me/Bitcoinsolaris
     X: https://x.com/BitcoinSolaris

    Media Contact
    Xander Levine
    press@bitcoinsolaris.com
    Press Kit: Available upon request

    Disclaimer: This is a paid post and is provided by Bitcoin Solaris. 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.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/75b23ca3-cdd6-4484-94ab-7a9495b3da46

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fbab1640-63df-4306-9e6a-19b476b23224

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ec8b8860-3878-4e92-b454-347ed497d033

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7513f830-a25f-44c6-bb52-f11d358b9a75

    The MIL Network –

  • MIL-OSI: Kayne Anderson Energy Infrastructure Fund Announces Distribution of $0.08 Per Share for June 2025

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, June 02, 2025 (GLOBE NEWSWIRE) — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) announced today a monthly distribution of $0.08 per share for June 2025. This distribution is payable to common stockholders on June 30, 2025 (as outlined in the table below).

    The Company declares distributions on a monthly basis, with its next distribution expected to be declared in early July. Payment of future distributions is subject to the approval of the Company’s Board of Directors, as well as meeting the covenants on the Company’s debt agreements and the terms of its preferred stock.

    Record Date /
    Ex-Date    		 Payment Date Distribution Amount Return of Capital
    Estimate
    6/13/25 6/30/25 $0.08 50%(1)

    (1) This estimate is based on the Company’s anticipated earnings and profits. The final determination of the tax character of distributions will not be determinable until after the end of fiscal 2025 and may differ substantially from this preliminary information.
    Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.

    The Company pays cash distributions to common stockholders at a rate that may be adjusted from time to time. Distribution amounts are not guaranteed and may vary depending on a number of factors, including changes in portfolio holdings and market conditions. 

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include but are not limited to changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company’s investment objectives will be attained.

    Contact investor relations at 877-657-3863 or cef@kayneanderson.com.

    The MIL Network –

  • MIL-OSI Economics: Robert Holzmann: Monetary policy and structural tectonic shifts

    Source: Bank for International Settlements

    Ladies and gentlemen, distinguished guests!

    Welcome to this year’s OeNB Annual Economics Conference in cooperation with SUERF.

    I would like to start by warmly welcoming everyone – whether you are joining us in person here at the OeNB or online. My sincere thanks go to our esteemed speakers, panelists and researchers for sharing their time and expertise. I would also like to extend my heartfelt appreciation to all those behind the scenes, whose hard work and dedication are making this event possible and enjoyable for us all.

    At last year’s conference, we explored the theme “The central bank of the future: opportunities and challenges.” And our discussions then laid important groundwork for the issues we are facing today. Over the past year, we have witnessed a series of substantial challenges, each with the potential to reshape the global economic landscape and, in turn, the very framework in which monetary policy must operate.

    It is in this context that we are approaching this year’s theme: “Monetary policy and structural tectonic shifts.” Much like how we feel and see tectonic shifts through earthquakes and volcanic eruptions, our world has recently experienced economic and geopolitical tremors – disruptions that have shaken long-held assumptions and institutions. In my opening remarks, I will briefly highlight three key developments that reflect these shifts, offering insights into their implications and addressing the critical questions they pose for the future of monetary policy.

    Some reflections on the past twelve months

    Let me start by looking back. Since our last conference, the inflation landscape has shifted significantly. Following a period of sharp price increases, we took decisive monetary policy action that helped to stabilize the situation. Encouragingly, these efforts were fruitful, and in June 2024, we began a process of gradually reducing key interest rates. With seven consecutive rate adjustments, we brought the deposit facility rate down to its current level of 2.25%.

    However, the inflation surge and subsequent developments have also revealed new layers of complexity in maintaining price stability. Today, central banks must navigate an environment that is more intricate than ever before. Traditional tools often behave in unpredictable ways when used in times of global disruptions. During the recent inflationary period, the factors at the forefront of our concerns included disrupted supply chains, volatile energy markets and the ongoing unwinding of unconventional monetary policy instruments.

    As we look ahead, I believe we must approach the current challenges in two distinct blocks. First, what emerging trends would have shaped the economic and financial landscape if the current tectonic shifts originating in the United States had not occurred? In this context, I will touch on artificial intelligence, financial innovation and new insights into the natural rate of interest or r-star. Second, now, a couple of months into the second term of the Trump presidency, we find ourselves facing new challenges in truly uncharted territory. Frequently shifting economic signals from the United States continue to inject an added layer of unpredictability, further complicating the already complex task of policymaking.

    Three big challenges shaping the future of money and policy

    Let me briefly point out three big challenges we were already dealing with before Donald Trump got reelected. First, I would like to draw your attention to an innovation in the cryptocurrency sphere that has gained growing relevance and with a potential systemic impact: stablecoins. Unlike highly volatile crypto assets such as Bitcoin or Ethereum, stablecoins are pegged to reference assets like the US dollar, offering greater price stability and edging closer to meeting the traditional functions of money. Dollar-pegged stablecoins such as Tether and USDC have grown substantially in both market capitalization and global reach. Yet, as highlighted by Fed Board Governor Christoph Waller, this rapid growth brings with it serious regulatory and monetary policy implications.1

    Second, also in the realm of technology, recent developments in artificial intelligence (AI) have the potential to fundamentally alter the way we live – and, by extension, the structure of the global economy. I suspect that most of today’s audience has already interacted with AI in some form, whether for highly productive purposes or perhaps for more casual experimentation. Yet, the broader implications of AI extend far beyond personal use. From reshaping entire industries to transforming the very nature of work, AI introduces both unprecedented opportunities and significant challenges. One critical issue is that traditional economic indicators may fall short in capturing the true impact of AI-driven innovation, especially in knowledge-based sectors (see Baily, Brynjolfsson and Korinek, 2023).

    Third, and this is where many of the points I have raised are coming together, the natural rate of interest, or r-star, has returned to center stage, with recent estimates suggesting a modest upward shift. In a recent paper, we examined the key factors influencing r-star. While overall productivity remains a fundamental driver, demographic trends also play a crucial role. Here, the outlook remains largely unchanged: our societies continue to age, and uncertainty persists about the long-term economic impact of migration. Therefore, pension reforms, such as raising the retirement age, could generate meaningful, and potentially lasting, upward effects on r-star (Breitenfellner et al., 2024).

    Let me now briefly touch on the enormous global investment needed to fight climate change and how this connects to r-star. According to the International Energy Agency, annual investment in clean energy must reach USD 4.5 trillion by 2030 so that we stay on track for the 1.5-degree target.2 Closing this gap through targeted public and private investment is not just a moral imperative butcan also raise the global natural rate of interest. Productive, climate-aligned capital deepens investment demand and improves growth prospects, especially in regions with untapped potential. In this way, the green transition can contribute not only to achieving climate goals but also to ensuring macroeconomic sustainability.

    Finally, central banks are very aware of the changing world and thus regularly engage in thorough reviews of their strategies. The Federal Reserve’s current review, for instance, focuses on two main areas: an analysis of its policy approach, and its tools for communicating policy. Notably, the Federal Open Market Committee’s 2% long-run inflation target is not part of this review. The Bank of Canada has reviewed its extraordinary policy actions during the COVID-19 crisis (ranging from emergency rate cuts to quantitative easing and forward guidance) and found that they had been crucial in stabilizing financial markets, supporting economic recovery.3 Also, the Eurosystem is currently engaged in an intermediate strategy review, incorporating the lessons of recent years to refine and enhance our policy decisions. This ongoing process underscores our commitment to continuously improving decision-making in a rapidly evolving environment. While some of these reviews are still ongoing, I expect that many of the topics we are discussing today will be part of them.

    A new US administration and the dramatic shifts it has unleashed

    In my view, these were the pressing issues of our time even before US President Trump was reelected. And now, in his new term, we have already seen an unprecedented series of tectonic shifts, not only economically, but also in terms of global organization and institutional dynamics. To make sense of where we stand today, let me offer some structure, outlining four key challenges that have emerged since President Trump took office.

    First, current US foreign and trade policies have triggered a series of events that continue to reverberate across Europe and the global economy. Frequent shifts in trade policy have fueled economic uncertainty, undermining stability and resulting in tangible losses for all parties involved. Yet, there is currently no clear consensus in the academic literature on how monetary policy should best respond to such persistent and politically driven uncertainty.

    Second, the Trump administration has decided to withdraw from important supranational initiatives and bodies, like the Paris Agreement and the World Health Organization. Even membership in the International Monetary Fund is currently under question. The US leaving the IMF would drastically reduce the international role of the USA and the US dollar even more. When a major global economy becomes an unreliable partner, it puts significant additional strain on already fragile global markets, making economic forecasts more complex and policy decisions even more challenging in an already uncertain environment.

    Third, given this heightened uncertainty, the international role of the euro can be expected to grow. Amid erratic tariff decisions and threats to the Federal Reserve, global investors have shifted away from US assets toward gold, which leads to a depreciation of the US dollar. While this shift presents an opportunity for the euro to emerge as a more reliable and stable reserve currency, it also raises new questions for monetary policy. The well-known Triffin dilemma reminds us that countries issuing global reserve currencies are faced with the structural tension that builds when they must run trade deficits to provide global liquidity, even at the expense of long-term economic stability at home. For central banks, this creates a complex balancing act.

    Fourth, a United States that appears less committed to Western security significantly weakens the military capabilities of NATO and leaves Europe more vulnerable to external threats. In response to these shifting dynamics, European countries have initiated a review of their common defense strategy and announced substantial increases in defense spending. As these fiscal impulses begin to unfold across the economy, the Eurosystem must remain highly vigilant, closely monitoring any inflationary pressures and responding with determination if needed.

    How can we rethink monetary policy in a period of tectonic shifts?

    Central banks must constantly adapt to a changing environment. That is why the Eurosystem has committed to regularly reviewing its strategy. Indeed, as I have mentioned before, we are currently undertaking an intermediate strategy review. This process draws on the lessons of recent years to refine and strengthen our approach to policymaking. It reflects our firm commitment to continuously improving how we assess, decide and act in a rapidly evolving environment.

    In today’s sessions, we will hear from keynote speakers Daniel Gros of Bocconi University and Huw Pill of the Bank of England, alongside a panel of distinguished experts. Their insights will help bring together academic perspectives and policy practice, enriching our collective understanding. Tomorrow, we will delve deeper into recent academic research and consider its implications for the future of monetary policy.

    With that, I wish all of us a stimulating, thought-provoking and productive conference. I am confident that our discussions will not only deepen our understanding of the challenges ahead but also spark fresh ideas. Let us approach today’s tectonic shifts not merely as threats, but as opportunities to shape a more resilient and forward-looking monetary policy.

    Thank you!

    Bibliography

    Baily, M., E. Brynjolfsson and A. Korinek. 2023. Machines of mind: The case for an AI-powered productivity boom. Brookings Institution. https://www.brookings.edu/articles/machines-of-mind-the-case-for-an-ai-powered-productivity-boom/ (accessed on May 13, 2025).

    Bloom, N. 2009. The impact of uncertainty shocks. In: Econometrica, 77 (3). 623–685.

    Bloom, N., M. Floetotto, N. Jaimovich, I. Saporta-Eksten and S. J. Terry. 2018. Really uncertain business cycles. In: Econometrica. 86 (3). 1031–1065.

    Breitenfellner, A., R. Holzmann, W. Pointner, A. Raggl, R. Sellner, M. Silgoner, A. Stelzer and A. Stiglbauer. 2024. How can a decline in R* be reversed? Productivity,  retirement age, and the green transition. OeNB Occasional Paper No. 9.

    Holston, K., T. Laubach and J. C. Williams. 2023. Measuring the Natural Rate of Interest after COVID-19 (No. 1063). Federal Reserve Bank of New York.

    MIL OSI Economics –

  • MIL-OSI: Cenovus Energy announces redemption of Series 7 Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, June 02, 2025 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (“Cenovus” or the “Company”) (TSX: CVE) (NYSE: CVE) announced today it will exercise its right to redeem the Company’s 3.935% Series 7 Preferred Shares (the “Series 7 Preferred Shares”) on June 30, 2025 (the “Redemption”). All 6 million Series 7 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount payable to holders of $150 million, less required withholdings, if any, funded primarily from cash on hand.

    As previously announced, the Company’s Board of Directors has declared a quarterly dividend of $0.24594 per Series 7 Preferred Share payable on June 30, 2025, to shareholders of record as of June 13, 2025. This will be the final dividend paid on the Series 7 Preferred Shares.

    Inquiries from registered holders of Series 7 Preferred Shares should be directed to Cenovus’s Registrar and Transfer Agent, Computershare Investor Services Inc. at 1-866-332-8898 or (514) 982-8717 outside North America. Beneficial holders, who are not directly registered holders of Series 7 Preferred Shares, should contact the financial institution, broker, or other intermediary through which they hold these shares to confirm how they will receive their redemption proceeds.

    Advisory

    This news release contains certain forward-looking statements and forward-looking information (collectively referred to as “forward-looking information”), within the meaning of applicable securities legislation, about Cenovus’s current expectations, estimates and projections about the future, based on certain assumptions made in light of the Company’s experiences and perceptions of historical trends. Although Cenovus believes that the expectations represented by such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Forward-looking information in this news release is identified by words such as “anticipate”, “continue”, “expect”, “intend”, “will” or similar expressions and includes suggestions of future outcomes, including, but not limited to, statements about: the completion of the Redemption, including the timing and funding thereof and the dividend payments with respect to the Series 7 Preferred Shares.

    Developing forward-looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to Cenovus and others that apply to the industry generally.

    Except as required by applicable securities laws, Cenovus disclaims any intention or obligation to publicly update or revise any forward‐looking information, whether as a result of new information, future events or otherwise. Readers are cautioned that the foregoing lists are not exhaustive and are made as at the date hereof. Events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward‐looking information. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. For additional information regarding Cenovus’s material risk factors, the assumptions made, and risks and uncertainties which could cause actual results to differ from the anticipated results, refer to “Risk Management and Risk Factors” and “Advisory” in Cenovus’s Management’s Discussion and Analysis for the periods ended December 31, 2024 and March 31, 2025, and to the risk factors, assumptions and uncertainties described in other documents Cenovus files from time to time with securities regulatory authorities in Canada, which are available on SEDAR+ at sedarplus.ca, on EDGAR at sec.gov and Cenovus’s website at cenovus.com.

    Cenovus Energy Inc.

    Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The company is focused on managing its assets in a safe, innovative and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Cenovus common shares and warrants are listed on the Toronto and New York stock exchanges, and the company’s preferred shares are listed on the Toronto Stock Exchange. For more information, visit cenovus.com.

    Find Cenovus on Facebook, LinkedIn, YouTube and Instagram.

    Cenovus contacts

    Investors Media
    Investor Relations general line Media Relations general line
    403-766-7711 403-766-7751

    The MIL Network –

  • MIL-OSI New Zealand: Health – From Today Eligible People with Stage III Melanoma Can Access Funded KEYTRUDA® (pembrolizumab)

    Source: Merck Sharp & Dohme (New Zealand)

    Auckland, New Zealand, 1 June 2025 – MSD (tradename of Merck & Co., Inc., Rahway, N.J., USA (NYSE: MRK) is delighted to announce that from today, Pharmac will widen the funding of the immunotherapy cancer medicine KEYTRUDA® (pembrolizumab) to include the treatment of eligible people with stage III melanoma. 1  

    Vanessa Gascoigne, Merck Sharp & Dohme (New Zealand) Limited (MSD) Director, expressed her excitement, stating; “Funded access to KEYTRUDA has been available in New Zealand for certain people with advanced melanoma since 2016. 2

    “We are thrilled that Pharmac has widened its funding of KEYTRUDA from today, to include eligible people with stage III melanoma. 1

    “This marks the first time KEYTRUDA will be funded by Pharmac for the treatment of a cancer before it has progressed to an advanced stage. 1,3

    “Thanks to the Government’s increase in the medicines budget last year, and National’s Cancer Policy, additional people living with cancer will now receive funded access to KEYTRUDA.” 1, 4, 5

    New Zealand has one of the highest melanoma rates in the world; therefore preventing, and detecting melanoma early, must be absolute priorities. 6

    KEYTRUDA is an immunotherapy cancer medicine registered for 31 indications and is now publicly funded for 12 of these indications.7,1 MSD will continue to work with the funding agency Pharmac, to try and obtain funded access for more people with cancer.

    Ms Gascoigne says, “Faster funded access to cancer treatment may benefit people across New Zealand and we believe patients should have access to KEYTRUDA where clinical evidence exists, ensuring fair and equitable access.”  

    KEYTRUDA® (pembrolizumab) is available as a 100 mg/4 mL concentrate for solution for infusion.

    The KEYTRUDA Consumer Medicine Information (CMI) is available at www.medsafe.govt.nz.

    KEYTRUDA is a Prescription Medicine and may be used in adults:

    · After surgery to remove melanoma, non-small cell lung cancer or renal cell carcinoma to help prevent the cancer from coming back

    · Before surgery to treat triple-negative breast cancer and then continued after surgery to help prevent the cancer from coming back

    · To treat bladder cancer which has not spread to nearby tissues but is at high-risk of spreading and where bladder removal is not preferred

    · To treat certain patients with the following types of advanced cancers:

    o Melanoma

    o Non-small cell lung cancer

    o Malignant pleural mesothelioma (MPM)

    o Classical Hodgkin Lymphoma (cHL)

    o Urothelial carcinoma

    o Head and neck squamous cell carcinoma

    o Renal cell carcinoma

    o Gastric or gastroesophageal junction adenocarcinoma

    o Oesophageal carcinoma

    o Cutaneous squamous cell carcinoma.

    o Cervical cancer

    o Endometrial carcinoma

    o Triple-negative breast cancer

    o A kind of cancer that can occur in any part of the body and is shown by a laboratory test to be microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR)

    o Colon or rectal cancer that is shown by a laboratory test to be MSI-H or dMMR

    o Merkel cell carcinoma (MCC)

    o Biliary tract carcinoma

    KEYTRUDA may be used in children with MPM, cHL, MCC, MSI-H or dMMR cancer, or after surgery to remove melanoma. It is not known if KEYTRUDA is safe and effective in children with MSI-H or dMMR cancer of the brain or spinal cord (central nervous system cancers).

    You should not be given KEYTRUDA if you are allergic to pembrolizumab or to any of the other ingredients listed at the end of the CMI.

    KEYTRUDA can cause harm or death to unborn babies. Talk to your doctor if you are a woman who could become pregnant and use effective contraception while you are being treated with KEYTRUDA and for at least 4 months after the last dose of KEYTRUDA. Do not breastfeed while taking KEYTRUDA.

    Serious immune-mediated side effects have occurred affecting the lungs, intestines, liver, kidneys, hormone glands, blood sugar levels, skin, other organs and in transplant recipients. Some of these side effects can sometimes become life-threatening and can lead to death. These side effects may happen anytime during treatment or even after your treatment has ended and you may experience more than one side effect at the same time. Serious infusion reactions have also occurred.

    Very common side effects with KEYTRUDA alone include diarrhoea, nausea, itching, rash, joint pain, back pain, feeling tired, cough, patches of discoloured skin, stomach pain, decreased levels of sodium in blood and low levels of thyroid hormone.

    When KEYTRUDA was given in combination with chemotherapy, hair loss, vomiting, decreased white-blood cell count, mouth sores, fever, decreased appetite, decreased number of red blood cells, decreased number of platelets in the blood and swelling of the lining of the digestive system (for example mouth, intestines) were also commonly reported.

    When KEYTRUDA was given in combination with axitinib, high blood pressure, fatigue, low levels of thyroid hormone, decreased appetite, blisters or rash on palms of your hands and soles of your feet, increased liver enzyme levels, hoarseness, and constipation were also commonly reported.

    When KEYTRUDA was given in combination with lenvatinib, high blood pressure, decreased appetite, low levels of thyroid hormone, vomiting, weight loss, headache, constipation, hoarseness, urinary tract infection, stomach-area (abdominal pain), blisters or rash on the palms of your hands and soles of your feet, protein in your urine, increased liver enzyme levels and feeling weak were also commonly reported.

    The most common side effects when KEYTRUDA is given alone to children include fever, vomiting, headache, stomach pain, decreased number of red blood cells, cough, and constipation. (v56)

    KEYTRUDA has risks and benefits. Talk to your doctor to see if KEYTRUDA is right for you. If symptoms continue or you have side effects, tell your doctor.

    KEYTRUDA is funded to treat certain patients with the following types of advanced cancers: melanoma, non-small cell lung cancer, MSI-H or dMMR colorectal cancer, triple-negative breast cancer, head and neck squamous cell carcinoma, urothelial carcinoma, and classical Hodgkin lymphoma. KEYTRUDA is also funded for certain patients with Stage IIIB-D melanoma. Patients must meet specific criteria for funding.

    KEYTRUDA is not funded for the treatment of all other cancers , which means you will need to pay for the full cost of the medicine and its administration. Ask your doctor about the cost of the medicine and any other medical fees that may apply.

    Merck Sharp & Dohme (New Zealand) Limited. Level 3, 123 Carlton Gore Road, Newmarket, Auckland.

    Copyright © 2025 Merck & Co., Inc., Rahway, NJ, USA, and its affiliates. All rights reserved.

    About MSD

    At MSD, known as Merck & Co., Inc., Rahway, N.J., USA in the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. We aspire to be the premier research-intensive biopharmaceutical company in the world – and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities. For more information, visit www.msd.com

    Copyright © 2025 Merck & Co., Inc., Rahway, NJ, USA, and its affiliates. All rights reserved.
    Merck Sharp & Dohme (New Zealand) Limited. Level 3, 123 Carlton Gore Road, Newmarket, Auckland. NZ-NZ-KEY-00984 V1.0 NP22833 June 2025

    References

    1. Pharmac Community Schedule: Pembrolizumab Special Authority Form SA2491 June 2025. Available at   https://schedule.pharmac.govt.nz/2025/06/01/SA2491.pdf Accessed May 2025

    2. Pharmac. News and resources. Decision regarding funding of pembrolizumab (Keytruda), nivolumab (Opdivo), posaconazole (Noxafil) and raltegravir (Isentress) Available at:

    https://www.pharmac.govt.nz/news-and-resources/consultations-and-decisions/decision-regarding-funding-of-pembrolizumab-keytruda-nivolumab-opdivo-posaconazole-noxafil-and-raltegravir-isentress?keyword=KEYTRUDA&type=all&page=1 Accessed May 2025

    3. Pharmac Community Schedule: Pembrolizumab Special Authority Form SA2386 May2025. Accessed May 2025

    4. Pharmac. News and resources. Update on new medicines funding after the budget uplift. Available at:

    https://www.pharmac.govt.nz/news-and-resources/news/update-on-new-medicines-funding-after-the-budget-uplift  Accessed May 2025

    5. National Party. Policies. Helping More Kiwis Fight Cancer. Available at:

    https://assets.national.org.nz/Plan_Helping_More_Kiwis_Fight_Cancer.pdf  Accessed May 2025

    6. MelNet: Skin Cancer Prevention and Early Detection Strategy 2024 – 2028. Available athttps://strategy.melnet.org.nz/ Accessed May 2025

    7.KEYTRUDA Data Sheet. Available at: https://www.medsafe.govt.nz/profs/Datasheet/k/Keytruda.pdf   Accessed May 2025

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Materials and technologies of the oil and gas industry were discussed at the Polytechnic University

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The V international industry conference “Materials and Technologies in the Oil and Gas Industry” was held at the Advanced Engineering School of SPbPU “Digital Engineering” (AES SPbPU). Leading experts in the field of materials and technologies, corrosion, metal science, mechanical engineering, additive technologies, digitalization, and the oil and gas industry discussed current issues in the industry. The Scientific and Technological Complex (STC) “New Technologies and Materials” of AES SPbPU organized the event. Partners were Gazprom 335 and VNIKTIneftekhimoborudovanie.

    This year, the business program included an expanded list of areas, including digital materials science, polymer composite materials for the oil and gas industry, hydrogen energy, issues of construction and industrial safety of oil and gas infrastructure, personnel training, and others. More than a hundred reports were presented at 15 thematic sections and round tables. Experts demonstrated developments in the field of materials and technologies as part of the exhibition.

    The event was attended by industry leaders and high-tech companies such as Gazprom, Gazpromneft NTC, Gazpromneft, Gazprom VNIIGAZ, Gazprom 335, Gazpromneft – Service Technologies, Rosneft, Lukoil, Transneft, Irkutsk Oil Company, Tatneft-Presskomposit, Sibir, RN-BashNIPIneft, Sibur Holding, Severstal, VNIKTIneftekhimoborudovanie, IC TMK, Kolskaya GMK, OMK, UMATEX, PM-Composite and others.

    Representatives of scientific centers and leading technical universities of the country spoke in thematic discussions. At the plenary session “Materials and technologies in the oil and gas industry – paths to technological leadership” scientists, government officials and heads of high-tech enterprises in the metallurgy and oil and gas sector presented reports.

    This is our fifth conference, we are celebrating a small anniversary. This year, more than 334 participants have registered, representing 150 organizations. I am sure that we will have fruitful work, which is divided into 15 sections and round tables. You will be able to share experiences, discuss current issues on the scientific and technological agenda and find useful business contacts, – Alexey Borovkov, Vice-Rector for Digital Transformation of SPbPU, greeted the participants.

    Alexey Borovkov spoke about the competencies of the SPbPU PISh in solving the problems of technological leadership, noted the extensive project activities in the interests of the industrial partners of the SPbPU PISh at a unique Digital platform for the development and application of digital twins CML-Bench®Alexey Ivanovich presented the main provisions of digital twin technology and emphasized its advantages as a driver for the development of industries, which contributes to the digitalization of production and the revision of traditional practices of product design and testing.

    Gazprom Neft Science Director Mars Khasanov emphasized the importance of engineering artificial intelligence for the application and development of digital engineering technologies. He noted the importance of integrated modeling, complex processing of large volumes of data, reduction of timeframes and success of modeling. Mars Khasanov spoke about the role of artificial intelligence in decision generation, multivariate modeling and impact analysis.

    All intelligent agents that make up engineering artificial intelligence solve certain engineering problems that are common to system engineering, and neurosymbolic technologies are used. The best environment for implementing engineering artificial intelligence is what Alexey Borovkov talked about. This is model-oriented system engineering, approaches and this entire huge system that was created, for example, at SPbPU. I think it would be great to implement all elements of engineering artificial intelligence into this system, Mars Khasanov emphasized.

    Ayar Suleimanov, Chief Operating Officer of Gazpromneft — Service Technologies, shared his experience in implementing new approaches to integrity and reliability management. He noted the development of projects on predictive failure analytics, online corrosion monitoring, and the development of self-cleaning devices for oil wells. They are aimed at ensuring technological independence, digitalization, and sustainable development of the enterprise. Ayar Suleimanov concluded that the implemented measures have significantly improved efficiency and reduced accidents. In the near future, it is planned to reduce diagnostic costs by 40-50%.

    The strategic session “Modern Materials in Equipment and Technologies for the Development of Oil and Gas Resources on the Russian Continental Shelf” was attended by Grigory Kuropatkin, Head of the Gazprom Department, Kirill Frolov, Chief Engineer and Deputy General Director of Gazprom 335, Yaroslav Kosmatsky, Deputy General Director for Research at the TMK Research Center, and Andrey Drinberg, Professor at the Hero of the Russian Federation, General of the Army E. N. Zinichev, St. Petersburg University of the State Fire Service of the Russian Emergencies Ministry. The moderator was Maxim Korobchuk, Chief Specialist of the Scientific and Technical Directorate of Gazprom 335.

    The experts discussed the prospects for developing offshore deposits in the Russian Arctic zone, the achievements and current challenges of creating domestic equipment for underwater production, problems in materials science, training professional personnel for the emerging new industry, and the possibilities of using modern digital technologies and artificial intelligence.

    The issues raised at the strategic session were examined in more detail by the participants at the relevant thematic sessions:

    “RF SHELF: Steels and alloys for equipment of underwater hydrocarbon production systems”; “RF SHELF: Modern polymeric materials in equipment and technology of underwater hydrocarbon production”; “RF SHELF: Protective and functional coatings for equipment of underwater production complexes of offshore hydrocarbon fields”.

    At the section “Corrosion Management in Oil Refining and Petrochemical Industries”, participants discussed the problems and achievements of oil refining and petrochemical enterprises, as well as specialized institutes and organizations in combating and controlling corrosion of process equipment. Experts considered the causes of equipment and pipeline failures due to corrosion, assessed various mechanisms of corrosion wear and corrosion monitoring, and also conducted a risk assessment in this area.

    Materials and technologies for hydrogen energy were discussed at the round table of the same name. The discussion was moderated by Yuri Aristovich, an expert of the Scientific and Educational Center for Digital Engineering of the Main Equipment of Chemical-Engineering Systems at the St. Petersburg Polytechnical School, Viktor Bolobov, a professor at the Empress Catherine II St. Petersburg Mining University, and Gleb Semernin, head of the department for the development of new product categories at the United Metallurgical Company.

    Hydrogen energy is not a short-term trend, but a conscious choice in favor of the future, where environmental safety and economic efficiency go hand in hand. This is an opportunity to diversify energy sources, reduce dependence on fossil fuels and create new jobs in high-tech industries. Hydrogen energy can become a catalyst for technological progress, stimulating the development of related industries, such as mechanical engineering, chemical industry, energy and transport. This is a chance for Russia to take a leading position in the global market of hydrogen technologies, exporting not only raw materials, but also advanced solutions. For the successful development of this area, comprehensive government support is needed, including the creation of a favorable investment climate, the development of a regulatory framework, stimulating demand for hydrogen and supporting scientific research, – noted Yuri Aristovich.

    Timofey Sokolov, an engineer at the Digital Engineering of the Main Equipment of Chemical-Engineering Systems Research and Education Center at the SPbPU PIS, presented a report on the analysis and development prospects of modern burner devices as a new industry standard. His colleague Andrey Efremov spoke about a critical analysis of the characteristics of internal combustion engines and hydrogen fuel cells. Anton Tsvetkov, a senior lecturer at the Higher School of Advanced Digital Technologies at the SPbPU PIS, presented the results of a study on the resistance of steel to hydrogen in aqueous and gaseous environments. Sergey Dagayev, a research engineer at the testing laboratory at the SPbPU PIS, spoke about hydrogen embrittlement of pipeline steels in a high-pressure hydrogen gas environment. The participants of the round table developed optimal solutions in terms of the emerging regulatory framework and the introduction of materials and technologies for hydrogen energy.

    Director of the Higher School of Advanced Digital Technologies PISH SPbPU Valery Leventsov presented the educational model of the Advanced Engineering School of SPbPU “Digital Engineering” and approaches to organizing the educational process, in which representatives of industrial partners, along with the school’s teachers, act as mentors for master’s students.

    Director of the Center for Continuing Professional Education of the SPbPU Advanced Engineering School Sergey Salkutsan spoke about the experience of developing and implementing training programs for managers and engineering personnel of high-tech companies on the topic of organizing advanced production. Students of the Advanced Engineering School of SPbPU “Digital Engineering”, engineers of the Scientific and Technical Complex “New Technologies and Materials” of the SPbPU Advanced Engineering School Ksenia Grigorieva and Rodion Ermolaev demonstrated tools and approaches that help future engineers maintain efficiency, involvement and sustainability in the educational and professional environment.

    Read more about the conference on the website.

    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 –

  • MIL-OSI Europe: OSCE Enhances Ammunition Safety Skills of Kyrgyz Defence Personnel through Study Visit to Austria

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: OSCE Enhances Ammunition Safety Skills of Kyrgyz Defence Personnel through Study Visit to Austria

    Participant involved in the study on mobile lab usage. Vienna, 20 May 2025. (OSCE) Photo details

    From 19 to 23 May 2025, four technical specialists from the Ministry of Defence of the Kyrgyz Republic took part in a study visit to Austria, focused on the use of mobile laboratory equipment for the chemical analysis of ammunition propellants. The visit was organized by the OSCE Programme Office in Bishkek, in co-operation with the Ministry of Defence of the Kyrgyz Republic and with the support of the Austrian Armed Forces.
    During the visit, participants received both theoretical and hands-on training on operating Level 1 chemical laboratories equipped with QPAK (Qualitative Propellant Analysis Kit) systems, widely used by the Austrian Federal Ministry of Defence. They also visited the Division for Explosives, Materials, Petrols, Oils, and Lubricants (POL) Technology within the Defence Technology Agency of the Austrian Armed Forces Logistics School.
    The programme included guided tours of specialized laboratories in explosives, chemicals, materials testing, and POL, where participants learned about testing procedures, safety protocols, and modern analytical tools. Daily practical exercises allowed participants to apply their knowledge and improve their technical competence in chemical testing of ammunition components.
    This initiative builds on the OSCE’s earlier support to the Kyrgyz Ministry of Defence through the donation of QPAK equipment. With the newly acquired skills, Kyrgyz defence specialists are now better equipped to conduct safe and effective chemical testing of ammunition, contributing to improved stockpile management and enhanced national security.
    The study visit is part of the OSCE’s ongoing efforts to support risk reduction and promote safe and secure ammunition storage practices in line with international standards.
    **This initiative is part of an ongoing series of activities within the extra-budgetary project “Improvement of SALW and CA Life-Cycle Management Capacity of the Ministry of Defense of the Kyrgyz Republic,” supported by Austria, France, Germany, Norway, and Switzerland.

    MIL OSI Europe News –

  • MIL-OSI Africa: African Petroleum Producers Organization (APPO) Secretary General Joins Angola Oil & Gas (AOG) 2025 Ahead of Energy Bank Launch

    Source: Africa Press Organisation – English (2) – Report:

    CAPE TOWN, South Africa, June 2, 2025/APO Group/ —

    Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO), will speak at this year’s edition of the Angola Oil & Gas (AOG) conference – the country’s premier industry event, scheduled for September 3-4 in Luanda. Ibrahim’s return to the conference reflects his commitment to supporting oil and gas projects in the country and comes as the organization prepares to launch the Africa Energy Bank (AEB) – a financial institution created in partnership with the African Export-Import Bank (Afreximbank). 

    Established with the aim of improving access to financing for African oil and gas projects, the AEB is on track to commence operations in June 2025, with the finalization of key arrangements made in April 2025. Headquartered in Abuja, Nigeria, the bank will have an initial capitalization of $5 billion, supported by an $83 million commitment made by each APPO member state. As of March 2025, three member countries – Angola, Nigeria and Ghana – had contributed, reflecting the support from some of Africa’s biggest oil and gas producers. At AOG 2025, Ibrahim is set to share insight into the role the institution will play in markets such as Angola and how improved financing can support regional fuel security.

    AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    As sub-Saharan Africa’s second largest oil producer, Angola strives to sustain oil production above one million barrels per day beyond 2027. In tandem, the country aims to bolster gas monetization, with its first non-associated gas project – led by the New Gas Consortium – coming online in late-2025 or early-2026. Through a multi-year strategy, improved fiscals and an upcoming Gas Master Plan, the country is incentivizing spending across the entire oil and gas value chain. The AEB will support these goals by offering project developers the requisite financing to accelerate exploration, production and project development.

    Operating as a development finance institution, the AEB will focus on Africa. The bank will have three classes of shareholders, with Class A featuring founding countries, APPO member states and Afreximbank; Class B consisting of other African countries, alongside their national oil companies; and Class C being reserved for individual and corporate investors outside of the continent. This structure offers access to a wide investment pool and reflects the drive by APPO and Afreximbank to support African oil and gas developments. AOG 2025 offers a strategic platform for project developers in Angola to gain insight into financing opportunities made possible through the AEB. Ibrahim’s participation will not only provide a greater understanding of the role the bank can play in the country but foster dealmaking in Angola as companies seek new financing mechanisms to expand their portfolios.

    MIL OSI Africa –

  • MIL-OSI Africa: African Mining Week to Highlight Coal’s Role in Regional Energy Security, Industrialization

    Source: Africa Press Organisation – English (2) – Report:

    CAPE TOWN, South Africa, June 2, 2025/APO Group/ —

    As Africa leverages coal to drive industrialization and support sustainable development, African Mining Week (AMW) – the continent’s premier platform for mining stakeholders – will highlight investment opportunities within the coal sector. Scheduled for October 1–3, 2025 in Cape Town, the event will unite project developers, investors, policymakers and technology providers to advance coal-focused deals and partnerships.

    A dedicated panel discussion, “Coal’s Indispensable Role: Powering Africa’s Downstream Processing and Manufacturing Boom,” will explore how coal contributes to energy security, economic growth and job creation across the continent.

    Coal remains a critical driver of energy security in Africa. The continent is expected to increase coal use by 6 million tons to 191 million tons per annum by 2027 under efforts to enhance the resilience of the electricity network, according to the International Energy Agency. In South Africa – Africa’s largest producer and the world’s sixth – the coal sector has been crucial in addressing load shedding, with a 7% increase in coal use in 2023 and 2024 strengthening the grid. On the global stage, African coal also plays an important role, accounting for over 3.5% of the world’s total production, with producers such as Mozambique, Zimbabwe, Zambia and Botswana kickstarting new projects and optimizing existing assets. South Africa exports 28% of its coal production and ranks as the world’s fourth largest coal exporting market.

    Glencore increased its South African coal production by 5% in Q1 2025 compared to the same period last year, reaching 4.2 million tons. In March 2025, Seriti Resources inaugurated the R500 million Naudesbank Colliery in Mpumalanga province, shortly after coal was designated a critical mineral by South Africa’s Ministry of Mineral and Petroleum Resources. Meanwhile, Canyon Coal is preparing to break ground on the R1.5 billion Sukuma Mine, targeting 7.2 million tons of annual output. In Zimbabwe, Contago Holdings’ Muchesu project – backed by Huo Investments – is ramping up production to meet both domestic and export demand.

    Recognizing coal’s strategic importance in shaping a just and inclusive energy transition and economic diversification, global public and private sector players are ramping up investment. In a landmark policy reversal in May 2025, the U.S. Export-Import Bank lifted its ban on financing overseas coal projects, opening new channels for international funding for African projects. South Africa’s Exxaro and Eskom have entered into a joint agreement to invest in emissions reduction technologies, supporting cleaner coal usage aligned with just energy transition objectives. In Mpumalanga, Blue Ammonia Production is progressing with its R31.5 billion Suiso Coal-to-Fertilizer project, poised to create 4,000 jobs and enhance regional agricultural productivity. Botswana is similarly advancing a $2.5 billion coal-to-liquids plant, designed to strengthen the country’s energy and fuel security. With African coal producers generating substantial revenue from coal exports, the industry will be crucial in funding the continent’s renewable energy deployment and energy mix diversification, facilitating a just and inclusive energy transition

    African Mining Week 2025 will serve as a strategic platform to explore these developments and examine coal’s evolving role in Africa’s industrial future. The event will place a strong emphasis on sustainable coal practices that balance development with environmental stewardship and long-term transition goals.

    African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

    MIL OSI Africa –

  • MIL-OSI: BW Offshore: First quarter results 2025

    Source: GlobeNewswire (MIL-OSI)

    First quarter results 2025

    HIGHLIGHTS

    • Q1 EBITDA USD of 91 million and operating cashflow of USD 57 million
    • Sale of BW Pioneer for USD 125 million
    • Received USD 36 million arbitration settlement in April, USD 21 million recognised in EBITDA
    • Robust balance sheet with an equity ratio of 30.9% and USD 542 million in available liquidity
    • Q1 cash dividend of USD 0.063 per share
    • BW Opal departed the shipyard in Singapore 28 May
    • Full-year 2025 EBITDA guidance maintained in the range of USD 220-250 million

    BW Offshore is nearing completion of the Barossa project well within the updated budget. On 28 May, the FPSO BW Opal departed the shipyard in Singapore and is currently enroute to the field where hook-up and connection will be undertaken. The FPSO is on track for first gas within the third quarter.

    The Board of Directors has declared a quarterly cash dividend of USD 0.063 per share. The shares will trade ex-dividend from 4 June 2025. Shareholders recorded in VPS following the close of trading on Oslo Børs on 3 June 2025, will be entitled to the distribution payable on or around 12 June 2025.

    “The BW Opal is on its way to the Barossa field to start producing gas under the 15-year contract, providing material earnings and cash flow to BW Offshore from later this year,” said Marco Beenen, CEO of BW Offshore. “At the same time, we continue to mature selected potential FPSO projects that meet our criteria, with solid counterparties and long-term investment horizons. Our growth strategy is supported by a strong balance sheet, high commercial uptime and robust cash generation from the existing fleet.”

    In late March, the Company completed the sale of FPSO BW Pioneer to Murphy Oil for USD 125 million and received an initial USD 100 million of the proceeds. The remaining USD 25 million was received in the second quarter upon meeting all conditions precedent. The two parties signed a five-year O&M contract, under which BW Offshore will continue to provide operations and maintenance services.

    In early April, BW Offshore received approximately USD 36 million including interest, after settling the arbitration with PRIO (formerly Petrorio) related to the FPSO Polvo lease dispute. This led to the recognition of USD 21 million of additional revenue and EBITDA in the first quarter accounts.

    FINANCIALS
    EBITDA for the first quarter of 2025 was USD 91.3 million (USD 71.9 million in Q4 2024), reflecting good operational performance and the arbitration settlement with PRIO.

    EBIT for the first quarter was USD 73.7 million (USD 30.8 million).

    Gain from sale of fixed assets was USD 14.8 million and relates to the sale of BW Pioneer.

    Net financial items were positive at USD 10.4 million (USD 19.4 million in Q4 2024). This included a net interest income of USD 1.1 million, which reflects USD 4.1 million of interest earned on the arbitration settlement with PRIO (net interest expense of USD 3.0 million). Both first quarter 2025 and fourth quarter 2024 were positively impacted by a valuation gain on the financial liability related to the Barossa project. This was driven by changes in the timing of expected future cash flows due to a later planned start-up of the facility, as well as a favourable mark-to-market adjustment on interest rate hedges.

    The share of loss from equity-accounted investments was USD 4.6 million, including a valuation adjustment on the Barossa finance receivable related to changes in timing of future expected cash flows (loss of USD 9.5 million).

    Tax expense was USD 17.3 million (tax income USD 0.1 million). The increase in tax expenses is mainly due to tax on the sale of BW Pioneer.

    Net profit for the first quarter increased to USD 62.2 million (USD 40.8 million).

    Total equity at 31 March 2025 was USD 1 271.7 million (USD 1 246.6 million) and the equity ratio was 30.9% at (30.8%).

    As a result of strong cash generation from the fleet and asset sales, the Company was net cash positive by USD 184.3 million at 31 March 2025 (USD 74.4 million net cash positive at the end of 2024).

    Available liquidity was USD 542 million, excluding consolidated cash from BW Ideol and including USD 100 million available under the corporate loan facility.

    FPSO OPERATIONS
    The FPSO fleet continued to deliver stable operations in the quarter with a weighted average fleet uptime of 100.0% (99.2% in the fourth quarter), including BW Pioneer.

    BW Adolo contributed positively through the volume-based tariff as production increased to approximately 39,000 barrels per day in the quarter and BW Catcher continued to maintain high commercial uptime.

    On 20 May 2025, BW Energy Gabon took over operations of the FPSO BW Adolo. BW Offshore continues to lease the unit under the same terms, excluding O&M services. A USD 100 million put-and-call option remains in place for 2028. The transition is ongoing and will be supported by both parties through 30 June 2025.

    FPSO PROJECT OPPORTUNITIES
    In January, BW Offshore was selected to perform the pre-FEED study for the Bay du Nord FPSO project by Equinor.

    The Company also progressed the FEED for Repsol’s Block 29 development in Mexico.

    Due to the current high activity related to FPSO-based development projects, BW Offshore recently acquired the FPSO Nganhurra. The vessel has a high-quality hull, well suited for installation of a new topside. Reusing existing energy production infrastructure reduces environmental impact, is cost efficient and enables shorter lead time from project sanction to first oil. The acquisition involves a limited upfront payment, with additional consideration linked to redeployment by June 2027. The unit enhances BW Offshore’s ability to respond to emerging project opportunities and strengthens its position in a supply-constrained market.

    FLOATING ENERGY TRANSITION SOLUTIONS
    BW Offshore is committed to contribute to the energy transition by leveraging FPSO expertise to deliver low-carbon energy and expand into new sectors, focusing on low-emission oil and gas, CO2 transport, gas-to-power and floating ammonia to meet evolving energy demands. The Company maintains a disciplined approach with selective and diligent allocation of capital and a commitment to creating shareholder value.

    BW Offshore owns 64% of BW Ideol, a leader in offshore floating wind technology and co-development with over 14 years of experience in the development of floating wind projects. A shareholder loan of EUR 6.7 million has been provided to support the company’s operations over the next 12 months.

    The 1 GW Buchan offshore wind project in Scotland recently held its third and final public consulting round as part of the preparation for the final consent application later this year. In France, work continued on the three floating substructures for the Eolmed floating wind pilot with installation of the transition pieces which will hold the wind turbines. Commissioning of the three floating turbines is expected by end of 2025.

    OUTLOOK
    Growing energy demand continues to drive interest in developing new infrastructure-type FPSO projects with long production profiles, low break-even costs, and a focus on lower emissions. Increased project complexity, combined with higher construction costs, necessitates financial structures with significant day rate prepayments during the construction period for new lease and operate projects. Alternatively, oil and gas majors may finance and own FPSOs, relying on FPSO specialists for the design, construction and installation scope, combined with operation and maintenance services. BW Offshore is well positioned to offer both solutions.

    In recent years, the number of sanctioned FPSO projects have lagged market expectations. Consequently, there is a growing number of projects at various stages of maturity, reflecting a pent-up demand for FPSOs. Increased FEED and tendering activity are a function of this, and BW Offshore expects that a number of the FPSO projects the Company is engaging with will reach a final investment decision over the next 36 months. These market dynamics, combined with the high level of expertise required for project execution, are expected to enable better risk-reward and improved margins for FPSO companies going forward.

    BW Offshore continues to selectively evaluate new projects that meet required return targets, offer contracts with no residual value risk after firm period, and provide a financeable structure with strong national or investment-grade counterparties.

    BW Offshore expects that the fleet will continue to generate significant cash flows in the time ahead, supported by the USD 5.4 billion firm contract backlog at the end of March 2025.

    Please see attached the Q1 Presentation. The earnings tables are available at:

    https://www.bwoffshore.com/ir/

    BW Offshore will host a webcast of the financial results 09:00 (CEST) today. The presentation will be given by CEO Marco Beenen and CFO Ståle Andreassen.

    Webcast information:
    You can follow the presentation via webcast with supporting slides and a Q&A module, available on:

    BW Offshore Limited – Q1 Presentation Webcast

    Please note, that if you follow the webcast via the above URL, you will experience a 30 second delay compared to the main conference call. The web page works best in an updated browser – Chrome is recommended.

    For further information, please contact:
    Ståle Andreassen, CFO, +47 91 71 86 55
    IR@bwoffshore.com or www.bwoffshore.com

    About BW Offshore:
    BW Offshore engineers innovative floating production solutions. The Company has a fleet of FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,100 employees and is publicly listed on the Oslo stock exchange.

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    Attachment

    The MIL Network –

  • MIL-OSI: Colt, Honeywell and Nokia join forces to trial space-based quantum-safe cryptography

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Colt, Honeywell and Nokia join forces to trial space-based quantum-safe cryptography

    • Tech collaboration will explore ways to protect encrypted data from quantum risk using Low Earth Orbit satellites.
    • Trial to use space-based quantum key distribution to overcome terrestrial distance limitations.

    2 June 2025
    Espoo, Finland – Colt Technology Services (Colt), a global digital infrastructure company, Honeywell and Nokia today announced a collaboration to explore quantum-safe networking using satellite communications. As part of the initiative, the companies are planning to test new ways of protecting encrypted optical network traffic from risks presented when quantum computing potentially breaks through traditional encryption methods, leaving data vulnerable to cyber threats.

    Traditional encryption methods, or cryptography, rely on complex mathematical problems that are difficult for computers to solve, but quantum computers are expected to solve these problems faster, potentially breaking through traditional encryption methods and putting data at risk. One promising advancement in this field is quantum key distribution (QKD), a technology central to the quantum evolution. However, QKD currently faces a major limitation: terrestrial physical constraints restrict its range to around 100 kilometers. To achieve global coverage of QKD, the technology can overcome these limitations by moving into space. Colt, Honeywell and Nokia plan to explore quantum-safe cryptography, trialling space-based and subsea techniques which are resistant to quantum computing attacks.

    The companies will trial quantum key distribution – a method used to securely share encryption keys between two parties – using low earth orbit satellites for ultra-long distances and transatlantic reach. The three companies share a collective goal: enable customers to benefit from the huge potential of quantum computing in ways that help solve pressing challenges, while protecting them from risk. The trial is expected to be of interest to organisations responsible for vast amounts of highly sensitive data such as financial firms, healthcare and pharmaceutical organisations and government bodies.

    “Fundamental to the collaboration between Colt, Honeywell and Nokia is a shared passion and determination to push the boundaries of technology to find solutions which safeguard our customers and help them succeed. At Colt, we do everything we can to make life easier for our customers. It’s why we’re taking action now to protect our customers from future cybersecurity risks, tackling tomorrow’s threats, today,” said Buddy Bayer, chief operating officer, Colt Technology Services.

    “With over five decades of aerospace expertise, Honeywell has witnessed and adapted to the evolution of the global communications landscape. We are proud to continue as a leader in innovating future-proof solutions such as the QEYSSat and QKDSat missions for the quantum era. This collaboration represents a significant step forward in securing the future of critical data: designing solutions to enhance resilience, ensuring long-term data security for critical infrastructure and communications systems,” said Lisa Napolitano, vice president and general manager, Space, Honeywell Aerospace Technologies.

    “Nokia is helping our customers stay ahead when it comes to securing critical data through resilient defense-in-depth strategies. Quantum computing brings great promise, but it’s also a potential threat to the encryption models on which society has relied so far. This collaboration with Colt and Honeywell shows how space-based quantum-safe technologies can help protect networks, safeguarding sensitive information across every domain against future quantum threats,” said James Watt, vice president and general manager, Optical Networks at Nokia.

    Ahead of the trial, Colt, Honeywell and Nokia have drafted a white paper with more detail on the risks, threats and opportunities presented by quantum cryptography. The paper, entitled ’The Journey to Quantum-Safe Networking’ is available to download here.

    The announcement follows a pilot Colt announced in March to explore quantum-secure networking across terrestrial networks.

    Multimedia, technical information and related news
    Web Page: Quantum Explained
    Web Page: Quantum Safe Technologies

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About Colt Technology Services

    Colt Technology Services (Colt) is a global digital infrastructure company which creates extraordinary connections to help businesses succeed. Powered by amazing people and like-minded partners, Colt is driven by its purpose: to put the power of the digital universe in the hands of its customers, wherever, whenever and however they choose.
    Since 1992, Colt has set itself apart through its deep commitment to its customers, growing from its heritage in the City of London to a global business spanning 40+ countries, with over 6,000 employees and more than 80 offices around the world. Colt’s customers benefit from expansive digital infrastructure connecting 32,000 buildings across 230 cities, more than 50 Metropolitan Area Networks and 275+ Points of Presence across Europe, Asia, the Middle East, Africa and North America’s largest business hubs.
    Privately owned, Colt is one of the most financially sound companies in the sector. Obsessed with delivering industry-leading customer experience, Colt is guided by its dedication to customer innovation, by its values and its responsibility to its customers, partners, people and the planet.

    About Honeywell
    Products and services from Honeywell Aerospace Technologies are found on virtually every commercial, defense and space aircraft, and in many terrestrial systems. The Aerospace Technologies business unit builds aircraft engines, cockpit and cabin electronics, wireless connectivity systems, mechanical components, power systems, and more. It’s hardware and software solutions create more fuel-efficient aircraft, more direct and on-time flights and safer skies and airports. For more information, visit aerospace.honeywell.com or follow Honeywell Aerospace Technologies on LinkedIn.
    Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world’s toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Sarah Miller – Nokia media relations
    Phone: 613-720-9716 |
    Email: sarah.miller@nokia.com

    Colt Head of PR
    Anne Amlot
    Email: anne.amlot@colt.net

    Honeywell
    Juliet Collins-Achong        
    Phone: +44 7787 282932                        
    Email: juliet.collins-achong@honeywell.com

    Follow Nokia on social media
    LinkedIn X Instagram Facebook YouTube

    Follow Colt on social media
    LinkedIn Instagram TikTok Facebook

    The MIL Network –

  • MIL-Evening Report: Australia’s latest emissions data reveal we still have a giant fossil fuel problem

    Source: The Conversation (Au and NZ) – By Emma Lovell, Senior Lecturer in Chemical Engineering, UNSW Sydney

    According to Australia’s Climate Change and Energy Minister Chris Bowen, the latest emissions data show “we are on track to reach our 2030 targets” under the Paris Agreement. In 2024, Australia’s greenhouse gas emissions were “27% below 2005 levels”. That’s great news, right?

    Well, yes and no. Australia continues to rely on changes in land use to compensate for emissions released into the atmosphere.

    In other words, Australia’s plants are considered to be taking more carbon dioxide out of the atmosphere now than in 2005. Their efforts are captured in the Land Use, Land-Use Change and Forestry (LULUCF) sector, which is the single largest reason for the significant reduction in Australian emissions.

    Without accounting for land use, Australia’s emissions have only decreased 3% since 2005, not 27%.

    If Australia is serious about reducing emissions and tracking towards net zero by 2050, we need to tackle a series of inconvenient truths about fossil fuels. Fossil fuels feed into almost every aspect of our lives, not just cars and power plants. There are substitutes, but they are not easy to source – and they don’t come cheap.

    How fossil fuel exports drive up emissions here and overseas

    Australia is one of the world’s biggest fossil fuel exporters. The coal, oil and natural gas we export is either burnt or combined with our sizeable iron ore exports to produce iron. But the greenhouse gases are released overseas, so they don’t count in Australia’s emissions data.

    This is in line with our international commitments under the Paris agreement. But there is an argument to be made that even though Australia doesn’t burn those exports, we should acknowledge our central role in contributing to global emissions. We may need to account for these in future reporting.

    Australia’s export emissions are likely to be triple that of our domestic emissions. These emissions have been increasing consistently over the last decade.

    But the process of extracting fossil fuels and preparing them for export does show up in Australia’s domestic emission figures, through what’s called “fugitive emissions”. These fugitive emissions are the unavoidable leaks that occur when we pull fossil fuels out of the ground, store, transport and process them.

    In the year to 2024, fugitive emissions accounted for 10.6% of our emissions, which is far greater than emissions from industrial processes (6.8%).

    Disturbingly, recent analysis suggests fugitive emissions could be drastically underreported. Because these emissions are tricky to measure, they are often estimated on an average basis. This means reported values do not accurately reflect true releases.

    When it comes to fugitive and export emissions, Australia is not on track to meet 2030 targets. Recent export-focused fossil project approvals such as the North West Shelf gas project suggest we might even be backtracking.

    Chris Bowen on Insiders, Sunday June 1, 2025 (ABC News)

    The transition to renewables

    Closing dirty old coal-fired power stations and replacing them with renewable energy such as solar and wind power does cut emissions. The reduction in emissions from the electricity sector, down 23.7% on 2005 levels, is good news. But the difference is still small enough that seasonal variations from Tasmania’s hydro power plants can distort the annual figures.

    At least there is a plan in place for the energy transition. Big, slow wheels are in motion.

    Unfortunately the reality is we will need much, much more renewable energy in the future. Up to three times the current capacity of the National Electricity Market will be needed to cover future domestic energy requirements across electricity and other sectors out to 2050.

    Significantly more would be required to generate enough additional green energy to also produce green value-added commodities.

    Australia’s clean energy challenge

    Discussions around transitioning from fossil fuels typically overlook how deeply they are embedded in our everyday lives.

    Not just the fuel we use in our cars, but the roads we drive on. Not just the electricity we use to power our hospitals, but the steel used to build them and the pharmaceuticals we rely on.

    Globally, around 13% of fossil fuels are not burned but used to make these key chemicals. What’s the alternative?

    Clean electricity is the key.

    Electricity can be used to make hydrogen from water through electrolysis. This hydrogen can then replace fossil fuels in manufacturing – making products such as green steel and ammonia for fertiliser.

    When combined with non-fossil sources of carbon, hydrogen can also be turned into renewable fuels, such as sustainable aviation fuel. It can be used to synthesise green versions of petrochemicals used in industrial processes such as ethanol, propylene and ethylene, which are currently sourced from fossil fuels.

    This takes energy. Lots of it. Fortunately Australia has all the ingredients needed for a booming green industry – one that’s much broader than just renewable electricity.

    Currently, it costs more to produce these chemicals without using fossil fuels. That’s why some companies and state governments have been pulling back from their investments in green hydrogen.

    Most people talk about green hydrogen in the context of energy storage or export. But it can also enable the transition away from fossil fuels in other sectors. The technology exists to make these chemicals and products, without the emissions and it’s slowly but steadily moving closer toward price parity.

    If we can nail this switch to fossil-free alternatives to petrochemicals, Australia would be able to add value onshore, rather than exporting raw materials. For example, we could export iron, not iron ore. Methanol or ammonia, not hydrogen. Export the jumper, not the wool.

    Heavy industry driven by renewables?

    On Sunday, Bowen said he found some areas of the 2024 emissions figures “encouraging, like industrial emissions, way down and lower than 2021”.

    Unfortunately, this result was partly due to a decline in manufacturing. Onshore manufacturing capability has been steadily decreasing, despite increased fossil fuel extraction.

    Unless we ramp up green manufacturing – replacing fossil fuel exports with much needed renewable products and fuels – we will continue to bear responsibility, if not direct accountability, for large, exported emissions as well as onshore fugitive emissions.

    And no amount of changes to land use can account for that.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Australia’s latest emissions data reveal we still have a giant fossil fuel problem – https://theconversation.com/australias-latest-emissions-data-reveal-we-still-have-a-giant-fossil-fuel-problem-257907

    MIL OSI Analysis – EveningReport.nz –

  • Viksit Bharat Requires Thriving Agriculture, Prosperous Farmers: Shivraj Singh Chouhan in Bihar

    Source: Government of India

    Source: Government of India (2)

    nion Agriculture Minister Shivraj Singh Chouhan on Monday emphasised the government’s firm commitment towards building a ‘Viksit Bharat’, stating that the path to national development passes through agricultural prosperity and farmers’ welfare.

    Union Minister Chouhan is in Motihari, Bihar. He is holding discussions focused on boosting agricultural productivity and ensuring better livelihoods for farmers in the state.

    Highlighting the vision of Prime Minister Narendra Modi, Chouhan said, “The Prime Minister is committed to building a Viksit Bharat. For this, developed agriculture and prosperous farmers are essential. This is the guiding mantra of the Agriculture Department. Across the country, 16,000 agricultural scientists are engaging directly with farmers. Scientists, along with state and central agriculture departments and agricultural universities, are working together to find ways to increase production, reduce input costs, ensure fair prices for farmers, and provide compensation in case of losses.”

    “I have come to Bihar to support and serve the farmers here and help increase agricultural productivity,” he added.

    During his visit, Chouhan stressed that Bihar holds tremendous potential for agricultural development, and efforts are being made to ensure that farmers in the region benefit from scientific innovations, government schemes, and institutional collaboration.

    He added that the government is actively promoting agricultural diversification, natural farming, and focused initiatives like the Pulses Mission and Oilseeds Mission — all aimed at making Indian agriculture more resilient, sustainable, and profitable.

    Referring to the ongoing efforts under the government’s “Viksit Krishi Sankalp Abhiyan,” Chouhan said, “Ek Rashtra, Ek Krishi, Ek Team (One Nation, One Agriculture, One Team)” is the motto driving these initiatives. He underlined the importance of integrating the efforts of central and state governments, agricultural scientists, and universities to ensure long-term solutions for India’s agricultural challenges.

    (IANS)

  • MIL-OSI China: Chinese well-drilling technology turns Egypt’s deserts into farmland

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

    As summer begins, patches of lush farmland stretch across Egypt’s Western Desert, an area that, until recently, was dominated by sand and rocks. Thanks to the deep wells drilled by the Egypt branch of China’s Zhongman Petroleum and Natural Gas Group (ZPEC), wheat, alfalfa and potatoes now thrive in tidy rows under the desert sun.

    These wells, part of a broader effort to reclaim desert land for agriculture, have transformed the barren landscape into productive farmland, offering a model for sustainable development in arid regions and underscoring the potential of international cooperation in addressing food security and ecological restoration.

    The project is an example of the high-quality Belt and Road cooperation. In Egypt, the Belt and Road Initiative (BRI) has evolved into a platform for transformative collaboration, extending beyond infrastructure to encompass agriculture, technology and industry. By tackling pressing challenges such as food insecurity, unemployment and technological gaps, the initiative is helping to lay the groundwork for more resilient and sustainable growth.

    Drilling for resource of life

    Egypt, home to over 100 million people, grapples with the daunting task of expanding farmland in a country where only about 4 percent of the land is arable. To reduce reliance on food imports, the Egyptian government has stepped up efforts to reclaim desert land since 2015, with water sources development a crucial part of this push.

    ZPEC, operating in Egypt since 2016, has played a key role. Its teams — composed of Chinese and Egyptian employees — have drilled more than 680 wells across the country, from the Sinai Peninsula to Aswan.

    This photo taken on May 3, 2025 shows a well-drilling rig at night at the site of Owainat Water Well Project in the desert of New Valley Governorate, Egypt. [Photo/Xinhua]

    Zhao Baojiang, project manager for ZPEC’s Owainat well-drilling operation in Egypt, said his team has drilled 63 wells, each about 450 meters deep, in less than a year by overcoming such challenges as extreme temperatures, sandstorms, complex geology and logistical hurdles.

    “We’re having our first wheat harvest this year, and we’re very happy to cooperate with the Chinese company,” said Abou-elKhier Ibrahim, manager of the Owainat sector of the Future of Egypt agricultural project.

    Wheat, Egypt’s dietary cornerstone, is in high demand. According to a report released by the UN Food and Agriculture Organization, per capita wheat consumption in Egypt averages about 146 kg annually.

    Mohamed Elhosary, electromechanical division manager of the Owainat sector of the Future of Egypt agricultural project, estimated that each feddan (about 0.42 hectares) of the farmland in Owainat can yield 3 tons of wheat.

    “The yield from each feddan is sufficient to cover the annual wheat consumption of at least 20 Egyptians,” Zhao Wutao, general manager of the ZPEC branch in Egypt, told Xinhua.

    Innovation brings benefits

    In Minya Province, 360 km south of Cairo, ZPEC is also supporting the farm of Canal Sugar Company, a joint venture between Egypt and the United Arab Emirates. The farm allocated a significant portion of its land to sugar beet production for a large-scale local refinery.

    ZPEC engineers faced technical hurdles there as well. According to Abumesalam Mohamed Gouda, operations manager of ZPEC’s Egypt branch, the groundwater layer in Minya’s desert is unstable, and large-diameter drilling poses risks of collapse and leakage.

    Workers operate on a well-drilling rig at the site of Owainat Water Well Project in the desert of New Valley Governorate, Egypt, on May 3, 2025. [Photo/Xinhua]

    To address these issues, the company’s technical team introduced air foam drilling technology, which uses stable foam as drilling fluid to prevent leakage and increase efficiency. This method was later shared with local companies to help improve their performance.

    Hassan Gamal, technical manager of the Canal Sugar farm, said that the 193 wells drilled by ZPEC can irrigate 30,000 feddans (12,600 hectares) of land. In 2023 alone, the farm planted 22,000 feddans (9,240 hectares) of beets, which were processed into sugar and sold widely. “This wouldn’t have been possible without ZPEC’s wells,” he said.

    Beyond agriculture, ZPEC’s work has also supported local employment and skills training.

    Mohamed Gaber, who joined ZPEC as a worker five years ago, is now a platform manager. He credited his Chinese colleagues for teaching him skills and helping him navigate challenges. “I always strive to do my best with the support of teammates, and I’m proud to grow in such a team,” he said.

    Growing Partnership

    For many Egyptians, these projects represent more than infrastructure — they represent progress toward greater food security, stable income, and a hopeful future, experts said, expressing their eagerness to expand collaboration with Chinese enterprises.

    “This is a notable and very positive contribution by the Chinese company in advancing agricultural development in Egypt,” Ahmed Galal, dean of the Higher Institute for Agricultural Cooperation in Cairo, told Xinhua.

    “Any efforts in extracting water or increasing Egypt’s water resources directly lead to positive results for agricultural development in Egypt … We certainly hope it continues,” he said.

    The well-drilling project is just part of broader cooperation between Egypt and China under the BRI. Other projects include the Central Business District of Egypt’s new administrative capital, a textile city in Sadat City, and the China-Egypt TEDA Suez Economic and Trade Cooperation Zone in Ain Sokhna. These ventures are seen by Egyptian experts as essential engines for job creation, industrialization and joint development.

    This photo taken on May 3, 2025 shows makeshift rooms for workers at the site of Owainat Water Well Project in the desert of New Valley Governorate, Egypt. [Photo/Xinhua]

    “China is now increasingly viewed as a development partner that contributes to job creation and improved living standards,” said Waleed Gaballah, a member of the Egyptian Association for Political Economy, Statistics and Legislation.

    He stressed China’s leadership in renewable energy, electric vehicles and advanced manufacturing. “Providing access to these technologies at a reasonable cost to countries participating in the BRI could make a major shift in the way of life in their societies.”

    Echoing his view, Galal said he looks forward to more Chinese investment in his country, as the ongoing Egypt-China cooperation under the BRI is “fruitful and promising.”

    “We in Egypt truly need all such investments. I also hope this cooperation grows in all fields, because it is, first of all, mutually beneficial — a win-win situation in terms of shared gains and joint development,” he said.

    MIL OSI China News –

  • MIL-OSI United Kingdom: Lavish Trips and Long-Haul Junkets: Stormont spends over £470,000 on travel outside the British Isles since the return of devolution

    Source: Traditional Unionist Voice – Northern Ireland

    Statement by TUV MLA Timothy Gaston:

    “For some weeks I have been collecting data on the spend of the different Executive departments on travel outside the British Isles since devolution returned. To say I am appalled at the scale and extravagance of ministerial and departmental spending on foreign travel is an understatement.

    “When collated, the responses reveal an astonishing total of £470,000 spent on international travel by Stormont departments in just over a year — and more than £52,000 of that squandered by Ministers themselves.

    “Luxury long-haul flights and costly hotel stays seem to be the norm for the Executive.

    “No department has flown further or spent more widely than the Department of Agriculture, Environment and Rural Affairs. In total, the department spent nearly £78,000, with trips ranging from Brussels to New Zealand, Germany to New York.

    “Three individuals, including the Minister, few to New York Climate Week at a cost of £11,134 — supposedly to discuss sustainability of all things, while burning jet fuel and public money.

    “Officials also attended climate-linked events in Sweden, Spain, and Germany — clocking up thousands more in expenses — with little to no clarity on what outcomes, if any, these junkets delivered for the Northern Ireland public.

    “The Department of Finance racked up over £32,700 in international travel — including a single trip to Brussels by 16 officials from the Departmental Solicitor’s Office, costing the public £17,066. We’re told this was a “bespoke study visit” linked to the Windsor Framework.

    “Can a 16-person legal trip to Brussels be justified? Ministers must explain why such a large group needed to attend, and what real value was achieved.

    “The Minister for Education himself spent over £8,000 on overseas travel in a single year — including trips to Washington DC and Reykjavik, Iceland. Minister Givan’s personal travel and accommodation expenses account for nearly 25% of the total expenses by the Department on foreign travel.

    Among the more concerning examples in the Department of Education are:
    •     Two officials who travelled to Paris and racked up costs of over £2,100 and
    •     A trip to Tokyo which cost £3,366, with no listed outcomes.

    “With education budgets under severe strain, with SEN services stretched to breaking point people working in education will be asking questions.

    “The biggest spenders though are of course the Executive Office. Michelle O’Neill and Emma Little Pengelly’s department has managed to spend over £126,000 on international travel.

    “When people see Ministers parading on the world stage while hospital waiting lists grow at home, it’s not hard to understand the anger. Spending more on a single trip than many people earn in a year is shameful.

    “Across the Executive, this pattern of waste repeats. Ministers and officials racking up air miles while local services go without.

    “When we ask the public to tighten their belts, the very least they should expect is that Ministers do the same.

    “Climate change conferences abroad are no substitute for sound governance at home.

    “Ministerial egos should not be subsidised by people struggling to make ends meet.

    “With many already questioning the value of Stormont, these figures will do nothing to restore public confidence.”

    Note to editors

    You can read the full set of questions and answers online here.

    MIL OSI United Kingdom –

  • MIL-Evening Report: Decades of searching and a chance discovery: why finding Leadbeater’s possum in NSW is such big news

    Source: The Conversation (Au and NZ) – By David Lindenmayer, Distinguished Professor of Ecology, Fenner School of Environment and Society, Australian National University

    Until now, Victorians believed their state was the sole home for Leadbeater’s possum, their critically endangered state faunal emblem. This tiny marsupial is clinging to life in a few pockets of mountain ash and snow gum habitat in the Central Highlands of Victoria.

    But a few days ago, seven grainy photos taken by a trail camera in New South Wales revealed something very unexpected: a Leadbeater’s possum hundreds of kilometres away in the wet forests of Kosciuszko National Park.

    For decades, we and other researchers have sought proof this possum existed in these forests. Now we have it. This is a moment of celebration. But it also signals the importance of well-resourced biodiversity surveys in uncovering our most threatened species and large national parks for conserving them.

    While this newly discovered population reduces the risk of extinction, it doesn’t change the decline and risk of extinction of its Victorian relatives – or the steps needed to safeguard them.

    These photos from Kosciuszko National Park are the first proof that Leadbeater’s possum has a NSW population.
    NSW Department of Climate Change, Energy, the Environment and Water, CC BY-NC-ND

    Detected entirely by chance

    In 2024, New South Wales threatened species ecologists Fred Ford and Martin Schulz set about looking for an entirely different species, the endangered smoky mouse. To find it, they set up a wide array of camera traps throughout wet forest areas of Kosciuszko National Park. A year later, they collected them and trawled through millions of photos.

    Among all these images (including of smoky mice), there were seven which stunned them. A camera deployed near Yarrangobilly Caves captured a tiny possum scampering through leaf litter, holding its distinctive club-shaped tail erect. The possum looks around the monitoring site, showing its back and face stripes and heart-shaped face.

    Experts at The Australian National University and Zoos Victoria verified the photos, setting the ecology world abuzz.

    A trail camera near Yarrangobilly Caves in Kosciuszko National Park captured the sighting.
    Destinations Journey/Shutterstock

    A hunch confirmed

    While we are delighted at this remarkable discovery, the detection is not a complete surprise.

    Over three decades ago, this article’s lead author searched for Leadbeater’s possum around Yarrangobilly and many other parts of Kosciuszko National Park, guided by a bioclimatic model suggesting the cool wet forests in Kosciuszko National Park should suit the possum.

    But detection cameras were not available then, and this possum is notoriously hard to spot. It’s tiny, nocturnal and spends its waking hours dashing through the dense understory of some of the world’s tallest forests looking for nectar, sap and insects.

    Species experts from Zoos Victoria and Deakin University have also scouted parts of Kosciuszko National Park over the past decade, identifying potentially promising habitat.

    In 2010 we got confirmation the possum had once occurred in the area, when jaw bones were identified among bones regurgitated by owls on the floor of a nearby cave.

    But other bones from the cave floor date back an estimated 140–200 years. The bones were far from proof of a living population.

    The possum’s existence remained an open question until these photos.

    What does this mean for this possum?

    We don’t know anything about this newly discovered Leadbeater’s possum population in NSW, other than the fact that it exists. Given the distance from the Victorian populations, we suspect that they may be genetically distinct.

    In theory, the existence of a separate population 250 km away from the Victorian populations cuts the risk a single megafire or other catastrophe could push the species to extinction.

    But while welcome, the discovery doesn’t reduce the need to urgently protect surviving Victorian populations, which remain highly threatened by bushfire, climate change, predation by cats, and the legacy of logging and land clearing.

    In Victoria, some populations have dwindled as low as 40 animals and inbreeding is now a concern.

    The possum typically relies on large old trees with hollows where it can breed and den. But these trees have substantially declined in Victoria over the past 150 years. Leadbeater’s possum also needs smaller trees for feeding and movement.

    Surveys across the historical range of the species in Victoria since 2017 have failed to find any other hidden populations. Most surveys have found the habitat highly degraded from logging and fire.

    The discovery won’t alter the possum’s critically endangered status at this stage, nor the ongoing work to support it.

    In welcome news, the NSW Environment Minister announced the possum’s state conservation listing will be fast-tracked.

    Of surveys and parks

    Why did it take so long to find the possum? The main reason: a lack of resources preventing targeted investigations.

    Even basic inventories of species have not been done across many of Australia’s important conservation areas.

    Without well conducted surveys and monitoring, we are left overly reliant on chance detections for critical information. There could be other populations of imperilled species waiting to be rediscovered.

    Properly managing our growing number of threatened species shouldn’t be based on luck. It should be enabled by adequate resources for threatened species recovery teams to discover, map, protect and manage threatened species and their habitat.

    Increasing federal spending on the care of nature to 1% of the budget would go a very long way to closing these gaps.

    Trail cameras, call playback and environmental DNA sampling mean we can now survey large and remote natural areas with relatively little effort for long periods of time.

    Big parks are essential

    Kosciuszko National Park supports much more than Australia’s highest mountains. The huge park spans 690,000 hectares, much of it forest.

    Many of our most imperilled species are hard to detect. Protecting extensive areas of good-quality habitat boosts the survival chances for these species, even if we don’t yet have proof of life.

    With so little high-quality habitat left in Australia, proper protection through new national parks (including in Victoria) is vitally important for the possum and many other species.

    Passive protection isn’t enough either – adequate funding is critical to stop the environmental condition of parks from declining, due to threats like invasive species and extreme fires.

    The world still contains wonder

    These seven photos have given ecologists and nature lovers a real boost to their spirits. As detection techniques improve, what else is out there waiting to be found?

    The authors would like to acknowledge the contribution of Leadbeater’s possum experts Dan Harley, Arabella Eyre, John Woinarski and Brendan Wintle to this article.

    David Lindenmayer receives funding from the Australian Government and the Victorian Government. He is a Councillor with the Biodiversity Council and a Member of Birds Australia.

    Darcy Watchorn works for Zoos Victoria, a not-for-profit zoo-based conservation organisation. He is a member of the Ecological Society of Australia, the Australian Mammal Society, the Society for Conservation Biology, and the Royal Society of Victoria.

    Jaana Dielenberg was employed by the now-ended Threatened Species Recovery Hub of the Australian Government’s National Environmental Science Program, which conducted research on the Leadbeater’s possum in Victoria. She is a Charles Darwin University Fellow and is employed by the University of Melbourne and the Biodiversity Council.

    – ref. Decades of searching and a chance discovery: why finding Leadbeater’s possum in NSW is such big news – https://theconversation.com/decades-of-searching-and-a-chance-discovery-why-finding-leadbeaters-possum-in-nsw-is-such-big-news-257957

    MIL OSI Analysis – EveningReport.nz –