Category: Energy

MIL-OSI: OilXCoin Begins Capital Raise on Republic.com

Source: GlobeNewswire (MIL-OSI)

ZURICH, May 12, 2025 (GLOBE NEWSWIRE) — OilXCoin, the evolutionary digital asset grounded in real-world value, is proud to announce it will launch a Reg D capital raise through Republic, one of the industry’s leading platforms for compliant investment offerings. This milestone reaffirms the company’s commitment to transparency, investor protection, and broad market accessibility.

Having secured regulatory approval for OilXCoin’s prospectus from the Financial Market Authority (FMA) in Liechtenstein, along with passporting rights across the European Economic Area (EEA), OilXCoin continues to raise the bar in real-world asset (RWA) tokenization

By partnering with Republic, OilXCoin expands its reach across both traditional and crypto-native capital markets through a platform widely recognized for its credibility with global investor communities.

“Partnering with Republic aligns well with our goal of delivering an asset-backed token to qualified investors as we position OilXCoin for its market entry.” said Dave Rademacher, Co-Founder of OilXCoin. “The platform is trusted by investors and has a track record of facilitating compliant, high-quality investment opportunities.”

OilXCoin offers investors exposure to natural gas and oil reserves and their upstream value chains. With a capped token supply and a dual revenue model that includes both natural gas & oil revenues and transaction activity within the blockchain ecosystem, OilXCoin is designed to be a resilient and scalable investment opportunity.

This public raise builds on early momentum, with more than USD $1.7 million already secured through private placements and restricted securities sales, now providing an opportunity for accredited investors in the United States under Reg D to participate.

“We believe OilXCoin offers something fundamentally different,” said Glenn McColpin, Head of Oil & Gas at OilXCoin. “By combining real asset backing with blockchain infrastructure – and now launching on platforms like Republic – we’re creating a new way for oil and gas reserves to be financed by investors.”

With the tokenized asset market projected to grow exponentially, OilXCoin is well-positioned to lead in a space where demand for compliant, real-world asset exposure continues to rise.

Follow along at x.com/oilxcoin and linkedin.com/oilxcoin to stay updated and be part of this new wave in digital, asset-backed investment.

-ENDS-

About OilXCoin:

OilXCoin is a digital asset that combines the resilience of tangible real-world assets, specifically oil & gas (O&G) and their upstream value chains, with the innovation of blockchain technology, providing investors with a unique opportunity to access both the traditional O&G sector and the dynamic cryptocurrency markets.

The token is a perpetual debt instrument that gives investors exposure to O&G assets of DeXentra GmbH. Upon a termination of the OilXCoin, holders will have a claim to a share of the (actual or estimated) net proceeds from the disposal of DeXentra GmbH’s O&G assets. The OilXCoin provides no fixed yield. The OilXCoin is issued in the form of ledger-based securities under Swiss law.

Disclosure: Here

Investor Notice:

OilXCoin tokens are available solely to residents of select EEA jurisdictions* and Switzerland. U.S. persons may acquire tokens under Regulation D 506(c). Visit oilxcoin.io for further details and to view or request a copy of the prospectus for the OilXCoin.

The information contained herein is provided for informational and discussion purposes only and is not intended to be a recommendation for any investment or other advice of any kind, and shall not constitute or imply any offer to purchase, sell, or hold any security or to enter into or engage in any type of transaction. Any such offers will only be made pursuant to formal offering materials containing full details regarding risks, minimum investment, fees, and expenses of such transaction.

The tokens offered hereby may be deemed to be securities under U.S. securities laws, and will be sold in the United States only to persons that qualify as “accredited investors” under an exemption provided by Rule 506(c) of Regulation D. The tokens will be subject to transfer restrictions and any U.S. investor should not assume that the tokens can be resold immediately. Neither the Securities and Exchange Commission nor any other regulatory agency has passed upon the merits of or has given its approval to the tokens, the terms of the offering, or the accuracy or completeness of any offering materials.

*Austria, Belgium, Cyprus, Czech Republic, Denmark, France, Germany, Hungary, Ireland, Italy, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Spain and Sweden.

Contact:

Aroma Kumar
Account Manager
aroma@lunapr.io
www.lunapr.io

Media Notice:

The information contained in this press release is intended solely for dissemination by media outlets to their affiliates located in the following jurisdictions: Austria, Belgium, Cyprus, Czech Republic, Denmark, France, Germany, Hungary, Ireland, Italy, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Spain, Sweden, Switzerland, and the United States of America.

Distribution or sharing of the contents herein outside of these specified jurisdictions is strictly prohibited. Media outlets receiving this communication are responsible for ensuring compliance with this restriction and must exercise due diligence in disseminating information accordingly.

The MIL Network –

May 13, 2025
MIL-OSI USA: Kaptur and DeLauro Expose Energy Secretary’s Lies

Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)

*NEW FACT SHEET*: Wright’s Wrongs

Toledo, Ohio — Last week, United States Secretary of Energy Chris Wright appeared before the House Appropriations Subcommittee on Energy and Water Development and Related Agencies for a hearing on the Department of Energy’s fiscal year 2026 budget request. During the hearing, Secretary Wright made several incorrect, misleading, or outright false statements.

In a new fact sheet, House Appropriations Subcommittee on Energy and Water Development and Related Agencies Ranking Member Marcy Kaptur (OH-09) and House Appropriations Committee Ranking Member Rosa DeLauro (CT-03) set the record straight.

“The Energy and Water Appropriations Subcommittee has the opportunity to make strategic investments that lower energy costs for American families, promote America’s energy independence, and support a robust and modern manufacturing sector, which are in line with President Trump’s stated goals. But the President and Secretary Wright’s actions at the Department of Energy will only lead to higher costs, reliance on foreign energy, and suppressed manufacturing,” said Representatives Kaptur and DeLauro. “Instead of working with the Committee to lower costs for Americans and get to the bottom of some of the Trump Administration’s stealing of funds promised to the American people, Secretary Wright spent hours at the hearing making incorrect and misleading statements or outright lying. This cannot go unchecked. It is impossible for Congress to responsibly conduct oversight of an agency when presented with false information. The American people deserve to know the truth and are owed an explanation as to why their energy bills are about to go up.”

This new fact sheet can be found by clicking here. A full recording of the hearing can be found by clicking here. Ranking Member Kaptur’s opening statement can be found by clicking here.

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MIL OSI USA News –

May 13, 2025
MIL-OSI USA: USGS offers funding to states to find critical minerals in mine waste

Source: US Geological Survey

Interested state geological surveys can apply online at grants.gov under Funding Opportunity Number G25AS00258.

Applications are due by May 14, 2025. More information on how to apply can be found in the Notice of Funding Opportunity available at grants.gov.

“The USGS is partnering with state geological surveys to modernize our understanding of critical minerals in the U.S., both below ground and above ground in mine waste, and this competitive funding will help us get there,” said Jamey Jones, science coordinator for the USGS Earth Mapping Resources Initiative, also known as Earth MRI. “Minerals, such as germanium, are essential for high-performance computer chips used in applications that weren’t even dreamed of when old mines closed. Germanium often occurs with zinc in ore, and it might have been left behind in mine waste when zinc ore was processed.”

The cooperative agreements are offered through Earth MRI, a partnership with state geological surveys, private companies, academia and other state and federal agencies. Earth MRI is transforming the nation’s mapping of the subsurface and mine wastes needed to assess mineral resources critical for the U.S. economy and national security, as directed by Executive Orders including “A Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals” in 2017 and “Unleashing American Energy” in 2025.

Through this funding, Earth MRI will provide science to evaluate the potential to extract valuable minerals from mine waste. This $5 million funding opportunity supports USGS efforts to build a national mine-waste inventory and characterize mine waste at mine sites across the nation. It also supports partnering with state geological surveys to plan Earth MRI data acquisition.

Mine waste is the material left over after mining. It consists of tailings, the material that remains after mined ore is milled and concentrated, as well as waste rock and other materials that were removed to get to the ore or left behind during ore processing.

Some critical minerals, like rare earth elements, are known to occur alongside more commonly mined minerals like iron or nickel. Because of this, mine wastes are now being revisited to see if the waste has potential for critical-mineral commodities that were not a primary product of the original mining. Understanding what is in mine waste also helps identify potential hazards of reprocessing it to recover the critical minerals and other valuable commodities and opportunities for remediation.

For example, the USGS revisited legacy iron mines in the Adirondack Mountains of New York to determine if rare earth elements might occur there. Results indicated significant potential that merits further exploration, especially for rare earth elements.

Since 2018, Earth MRI has focused new data collection in parts of the nation with known or suspected critical mineral potential, significantly increasing high-quality data coverage and geologic mapping across large regions. New data collection and critical mineral mapping under Earth MRI is propelling efforts to make once-in-a-generation advancements in the nation’s geologic and geophysical data collections and critical minerals mapping.

The USGS provides science for a changing world. Learn more at https://www.usgs.gov or follow us on Facebook @USGeologicalSurvey, YouTube @USGS, Instagram @USGS, or Twitter @USGS.

MIL OSI USA News –

May 13, 2025
MIL-OSI USA: Kugler, Economic Outlook

Source: US State of New York Federal Reserve

Thank you, Reamonn. It is an honor and a privilege to be asked to speak in the beautiful country of Ireland and here at the Central Bank of Ireland. The histories of the U.S. and Ireland are intertwined. Our friendship is enduring, and our economies are closely tied. The Irish economy and the Bank stand as examples of the benefits of being open to international connections and the sharing of the best ideas and practices. I am delighted to have the opportunity to meet with my counterparts here and continue this great friendship. It is also wonderful to see many members of the National Association for Business Economics (NABE). NABE and its members have made many important contributions to the field of economics; as such, I always enjoy speaking to this esteemed group.1
I am particularly delighted to contribute to this conference on trade, technology, and policy. As an academic, part of my research has investigated the link between trade and productivity. And in my current role, I have highlighted these themes in several of my recent speeches, including the role of recent advancements in technology, such as artificial intelligence, as well as the role of business formation in terms of boosting U.S. productivity over the past few years.2 Today, I would like to focus my attention on the current outlook for the U.S. economy and how I am thinking about the path of monetary policy. Of course, given current developments, I will focus on the role played by trade policy and how it may affect the economy and productivity going forward.
While the latest data show a resilient economy, I expect growth this year to be slower than last. Labor market conditions have been mostly stable. Inflation remains above the Federal Open Market Committee’s (FOMC) 2 percent target, and further progress on disinflation has been slow. Looking ahead, I am monitoring the effects of changing trade policies, as I see them as likely having a significant effect on the U.S. and global economies in the near future.
Trade policies are evolving and are likely to continue shifting, even as recently as this morning. Still, they appear likely to generate significant economic effects even if tariffs stay close to the currently announced levels, and the uncertainty associated with these tariffs has already generated effects on the economy through front-loading, sentiment, and expectations. Let me start by describing how I see current economic conditions.
Economic ActivityRegarding overall economic activity, it is currently hard to judge the underlying pace of growth of the U.S. economy, as the gross domestic product (GDP) release for the first quarter showed strong evidence of front-loading of imports ahead of tariffs. GDP contracted at a 0.3 percent annual rate in the first quarter after expanding 2.5 percent during 2024. However, the latest GDP figure likely overstates the deceleration in activity, as a 41.3 percent surge in imports apparently did not get fully picked up in the inventory data or other components of spending. The size of the swings in imports may make the measurement of activity more difficult.
It is helpful to look at private domestic final purchases (PDFP), a measure of demand in the private sector: It rose at a rate of 3 percent in the first quarter—similar to the pace recorded last year. Still, the strength in PDFP also likely reflects some pull-forward of purchases by businesses and consumers to get ahead of tariffs.
The Federal Reserve’s April Beige Book and conversations with contacts also point toward front-loading in auto sales or other high-end goods. However, the Beige Book and various indicators of consumer and business confidence also point to a downbeat tone about underlying economic activity down the road. For instance, the Beige Book notes that several Districts see a deterioration in demand for travel and other nonfinancial services and indicates that businesses may put investments on hold moving forward. Several other economic indicators that I track suggest some signs of declining economic activity in the future. For instance, the Institute for Supply Management’s manufacturing purchasing managers index for April shows that new orders have been declining since February.
Labor MarketOn the employment side of our mandate, conditions seem to be mostly stable. The most recent employment report showed that employers created 177,000 new jobs in April, in line with the average of the previous six months. The unemployment rate was 4.2 percent—still within the narrow and historically low range of 4 to 4.2 percent—where it has remained since May of 2024. In addition, the pace of layoffs remains modest. New applications for unemployment benefits have remained relatively stable at historically low levels. However, I am carefully watching other sources of data for any signs that the labor market could be shifting, given the broader uncertainty. Some forward-looking measures of layoffs have increased, such as the number of mentions of the word “layoff” in the Beige Book.
In terms of the demand for workers, the U.S. Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) showed that the vacancy rate—the number of vacant jobs as a percentage of total employment and vacant jobs—declined to 4.3 percent in March, the lowest in six months. The government data showed that the ratio of vacancies to the number of unemployed Americans was 1.0 in March, below its 2019 average of 1.2—also indicating the continuing easing of U.S. labor markets. Overall, job growth remains positive, and unemployment is still low, but I am watching a broad range of incoming readings carefully.
InflationOn the other side of our dual mandate is inflation. After two years of notable progress following U.S. inflation reaching its pandemic-era peak, progress on disinflation has slowed since last summer. Inflation remains somewhat above the FOMC’s 2 percent goal. At the Fed, the inflation reading we track most closely is the personal consumption expenditures (PCE) price index. The March report, released on April 30, showed that the 12-month change in the PCE price index was 2.3 percent; the core PCE price index—which excludes food and energy prices—rose 2.6 percent over the same period.
To help me judge the path of future inflation, I pay careful attention to two subcategories of the index. One is core goods prices, which exclude volatile food and energy prices. The second is nonhousing market-based services, which are based on transactions such as car maintenance and haircuts, not imputed prices. Goods inflation was negative for most of 2024—as was the norm for several years before the pandemic—but it was positive early this year. In contrast, nonhousing market services inflation stayed elevated through March, coming in at 3.4 percent. That category often provides a good signal of inflationary pressures across all nonhousing services. Looking ahead, I find it critical to monitor not only the most up-to-date data but also the changing economic policies around the world.
Economic Effects of Global Policy ChangesTo pause briefly, I would like to take a moment to discuss the Fed’s structure. The Fed operates independently from the elected government in Washington. We make our policies to best achieve the goals given to us by Congress of maximum employment and price stability. As such, it is not my role to comment on the policies offered by the U.S. government or any government around the world. Rather, I make assessments of the likely effects of these policies, observe the behavior of the U.S. and world economies, and develop views about the best U.S. monetary policy to achieve our dual-mandate goals.
The U.S. is implementing policy changes in trade, immigration, fiscal policy, and regulation, and other economies are also changing their policies in the areas of trade and fiscal spending, particularly in defense, which could stimulate aggregate demand. But given that the most important changes have occurred so far in the area of trade policy, today I would like to discuss some important economic channels through which changes in tariffs may affect the U.S. economy.
Although higher tariffs on U.S. imported goods may affect our macroeconomy through many channels, some of which I will describe next, I think they will primarily act as a negative supply shock, raising prices and decreasing economic activity. While uncertainty remains about the ultimate level of the average tariff rate, currently announced average tariffs in the U.S. are still much higher than they were in the past many decades. If tariffs remain significantly larger relative to earlier in the year, the same is likely to be true for the economic effects, which will include higher inflation and slower growth.
How do I expect this to play out? In the near term, higher import costs will raise prices for both consumer goods and inputs to production. On their own, imported goods represent about 11 percent of U.S. GDP. However, given that several intermediate goods, such as aluminum and steel have been tariffed, and they affect costs in many sectors of the economy, prices of many goods and services are also likely to be affected. In addition, in conversations with business contacts, I have heard that firms are paying attention to the price sensitivity of consumers across the entire catalog of items sold and may spread price increases to less price-sensitive items to avoid reducing their profit margins. A Federal Reserve Bank of Dallas survey of Texas business executives found that 55 percent of respondents expect to pass through most or all of the costs from higher tariffs to customers.3 Of those expecting to pass on costs, 26 percent expect to pass through the higher tariff cost upon the announcement of tariffs, and 64 percent expect this pass-through to occur within the first three months after the tariffs take effect. That would suggest that price increases may be observed soon.
Given these expected price increases, real incomes will fall, and operating costs will rise, which will lead consumers to demand fewer final goods and services and firms to demand fewer inputs. Ultimately, I see the U.S. as likely to experience lower growth and higher inflation. Over time, there could also be significant effects on productivity. As firms adjust to the higher input costs and lower demand, they may cut back on capital investment and shift to a less-efficient combination of inputs. Additionally, less-efficient domestic firms may increase their market share.4 All of this may result in a decrease in potential output growth, lowering the underlying pace of economic activity in the U.S.
In addition to any direct effect from actual global policy changes, consumers, businesses, and market participants have reported high levels of uncertainty about which policies may be ultimately chosen and how long they will remain in place. In fact, in recent months, several measures of economic uncertainty have risen sharply.
There are several types of measures that quantify economic uncertainty, with two types having gained prominence among economists closely monitoring the U.S. economic outlook.5 Some are based on financial market transactions, such as the Chicago Board Options Exchange’s Volatility Index, popularly called the VIX. Others are based on the occurrence of certain keywords associated with the concept of uncertainty in newspapers of wide circulation, such as the economic policy uncertainty and trade policy uncertainty readings.6 These measures of uncertainty have reached historical highs in recent months. Similarly, I also saw the word “uncertainty” being highly cited in the Beige Book I reviewed before the FOMC’s policy meeting last week.7
In times of heightened uncertainty, businesses may delay investment decisions, and consumers may increase precautionary savings and postpone discretionary purchases. Moreover, the economic research literature has documented that these decisions from businesses and consumers reverberate through the economy, pushing down aggregate demand. Firms, anticipating lower demand for their services and products, may post fewer job openings and cut back on investments to expand capacity. While the labor market has remained broadly resilient, the JOLTS data for March showed that job openings fell. Workers, therefore, may have a more difficult time finding employment, decreasing economy-wide income and aggregate demand.8 This lower aggregate demand may then exert downward pressure on inflation, though probably not by enough to offset the effect from the adverse supply shock that I previously mentioned. For example, recent data show that prices for accommodations and airfares have fallen, consistent with an increasing number of anecdotal reports of weaker consumer demand for discretionary travel services.
I am also monitoring the effect of policy changes on another important channel: inflation expectations. For instance, consumers and businesses have reported tariffs as an important reason for having increased their near-term inflation expectations. Several surveys, including those from the Conference Board and the Federal Reserve Banks of Atlanta and New York, have found that consumers and businesses expect higher inflation one year from now. Another closely watched survey from the University of Michigan showed that one-year-ahead inflation expectations in April were higher than in the pandemic period. This increase in short-run expectations may give businesses more leeway to raise prices.
Most longer-run measures, including those from the Philadelphia Fed’s Survey of Professional Forecasters and the New York Fed’s Survey of Consumer Expectations, show either stability or much smaller increases in inflation expectations, which does provide some comfort to me. Additionally, inflation compensation, which is based on yields from Treasury Inflation-Protected Securities, has increased only for short-term maturities, such as one year ahead, and has shown stability in maturities over the five years starting five years from now. Still, I have taken note of the increase in longer-term inflation expectations from the Michigan survey, which reached the highest level since June 1991. Given these developments, I am keeping a close watch on inflation, because as I have indicated in the past, I believe it is critical to keep long-term inflation expectations very well anchored at 2 percent.
Looking globally, international developments do not seem to be adding inflationary pressures to the U.S. Economic growth in most developed economies remains moderate, and domestic inflation in those countries has declined from elevated levels. In Europe, activity data point to modest growth as the region deals with headwinds stemming from past energy shocks and competitive pressures from elsewhere in the world. The New York Fed’s Global Supply Chain Pressure Index has been relatively stable since the beginning of the year. Oil prices have declined significantly since January.
Monetary PolicyI have discussed a lot of data and developments with you today. To summarize, the U.S. economy has remained resilient up until now, with a still-stable labor market. Meanwhile, the disinflationary process has slowed. This comes against a backdrop of heightened uncertainty as households, businesses, and, indeed, monetary policymakers process the changes to economic policies that are happening around the world. Going forward, I will continue to closely monitor the direct effects of global economic policies on prices and employment, as well as the indirect economic effects from uncertainty, inflation expectations, and productivity.
U.S. monetary policymakers on the FOMC met last week in Washington. At that meeting, the Committee voted to maintain its policy rate at 4-1/4 to 4-1/2 percent. Given the upside risks to inflation and given that I still view our policy stance as somewhat restrictive, I supported the decision to keep rates at that level. With inflation and employment potentially moving in opposite directions down the road, I will closely monitor developments as I consider the future path of policy.
I view our current stance of monetary policy as well positioned for any changes in the macroeconomic environment. I remain committed to achieving both of our dual-mandate goals of maximum employment and stable prices.
Thank you for your attention today—and thank you very much for inviting me to speak to you here in Dublin. It has been an honor and a privilege. I look forward to your questions.

1. The views expressed here are my own and not necessarily those of my colleagues on the Federal Open Market Committee. Return to text
2. See Adriana D. Kugler (2025), “Entrepreneurship and Aggregate Productivity,” speech delivered at the 2025 Miami Economic Forum, Economic Club of Miami, Miami, Florida, February 7. Also, see Adriana D. Kugler (2024), “A Year in Review: A Tale of Two Supply Shocks,” speech delivered at the Detroit Economic Club, Detroit, Michigan, December 3. Return to text
3. The special questions included in the survey of Texas business executives is available on the Federal Reserve Bank of Dallas’ website at https://www.dallasfed.org/research/surveys/tbos/2025/2504q#tab-all. Return to text
4. For the effects of tariffs on productivity, see Marcela Eslava, John Haltiwanger, Adriana Kugler, and Maurice Kugler (2013), “Trade and Market Selection: Evidence from Manufacturing Plants in Colombia,” Review of Economic Dynamics, vol. 16 (January), pp. 135–58; Marcela Eslava, John Haltiwanger, Adriana Kugler, and Maurice Kugler (2004), “The Effects of Structural Reforms on Productivity and Profitability Enhancing Reallocation: Evidence from Colombia,” Journal of Development Economics, vol. 75 (December), pp. 333–71; and Davide Furceri, Swarnali A. Hannan, Jonathan D. Ostry, and Andrew K. Rose (2022), “The Macroeconomy after Tariffs,” World Bank Economic Review, vol. 36 (May), pp. 361–81. Return to text
5. For a literature review on quantifying uncertainty, see Danilo Cascaldi-Garcia, Cisil Sarisoy, Juan M. Londono, Bo Sun, Deepa D. Datta, Thiago Ferreira, Olesya Grishchenko, Mohammad R. Jahan-Parvar, Francesca Loria, Sai Ma, Marius Rodriguez, Ilknur Zer, and John Rogers (2023), “What Is Certain about Uncertainty?” Journal of Economic Literature, vol. 61 (June), pp. 624–54. Return to text
6. For more details on the economic policy uncertainty index, see Scott R. Baker, Nicholas Bloom, and Steven J. Davis (2016), “Measuring Economic Policy Uncertainty,” Quarterly Journal of Economics, vol. 131 (November), pp. 1593–1636. For more details on the trade policy uncertainty index, see Dario Caldara, Matteo Iacoviello, Patrick Molligo, Andrea Prestipino, and Andrea Raffo (2020), “The Economic Effects of Trade Policy Uncertainty,” Journal of Monetary Economics, vol. 109 (January), pp. 38–59. Return to text
7. The April 2025 Beige Book is available on the Federal Reserve Board’s website at https://www.federalreserve.gov/monetarypolicy/beigebook202504-summary.htm. Return to text
8. For studies documenting how uncertainty shocks may act as adverse aggregate demand shocks, see Sylvain Leduc and Zheng Liu (2016), “Uncertainty Shocks Are Aggregate Demand Shocks,” Journal of Monetary Economics, vol. 82 (September), pp. 20–35, as well as Susanto Basu and Brent Bundick (2017), “Uncertainty Shocks in a Model of Effective Demand,” Econometrica, vol. 85 (May), pp. 937–58. Return to text

MIL OSI USA News –

May 13, 2025
MIL-OSI Africa: South Africans seeking resettlement in USA are not refugees – President Ramaphosa

Source: South Africa News Agency

President Cyril Ramaphosa has refuted the classification of a group of South Africans as refugees, who are seeking resettlement in the United States of America.

The President was speaking during a Presidential panel at the African CEO Forum 2025 in Abidjan, Cote d’Ivoire, on Monday.

He was asked by the panel facilitator, Larry Madowo, about his reaction to the 49 white South African ‘refugees’, who are currently on their way to the United States and will be received by the government of President Donald Trump.

“We’ve raised our own concern because those people who are being enticed to go to the United States do not fit the definition of a refugee. A refugee is someone who has to leave their country out of fear of political persecution, religious persecution or economic persecution, and they don’t fit that bill. They don’t fit that description.

“Those people who have fled are not being persecuted. They are not being hounded. They are not being treated badly. They are leaving ostensibly because they don’t want to embrace the changes that are taking place in our country, in accordance with our Constitution,” President Ramaphosa said.

He explained that he clarified to President Trump that these individuals are opposed to constitutional changes and do not represent the majority.

“I had a conversation with President Trump on the phone… [and] I [told him that] what [he has] been told by those people who are opposed to transformation back home in South Africa is not true.

“I told [President Trump] that we were well taught by Nelson Mandela and other iconic leaders like Oliver Tambo on how to continue to build a united nation out of the diverse groupings that we have in South Africa,” President Ramaphosa said.

President Ramaphosa went on to explain that South Africa is the only country on the continent where the colonisers came to settle and were never driven out.

“We are the only country on the continent where the colonisers came to stay, and we have never driven them out of our country…” he said.

President Ramaphosa further emphasised South Africa’s commitment to unity and transformation, as taught by former President Nelson Mandela, and expressed a willingness to meet up with President Trump to discuss the matter further.

“…We intend to proceed with the implementation of our constitutional architecture, and I thought in my conversation with him, early in the morning, at four o’clock South African time, [that President Trump] understood that. I said I’d like to come and meet him so that we can discuss this matter further,” President Ramaphosa said.

He also noted that the US seems to have misunderstood the situation but is open to continued dialogue.

“…We think that the American government has got the wrong end of the stick here, but we’ll continue talking to them,” he said.

When asked whether Elon Musk would be part of his upcoming face-to-face meeting with the Trump administration, President Ramaphosa responded: “Well, I don’t know. They will determine whether Elon Musk is part of it or not. I will go with my own South African delegation.”

The Africa CEO Forum is the leading platform for CEOs of the largest continental and multinational companies, investors, Heads of State and Government, Ministers and representatives of financial institutions.

President Ramaphosa is accompanied by the Minister of Mineral and Petroleum Resources, Gwede Mantashe and the Minister of Electricity and Energy, Dr Kgosientsho Ramokgopa. – SAnews.gov.za

MIL OSI Africa –

May 13, 2025
MIL-OSI Africa: Lamola hopes SA’s G20 Presidency will transform lives of the needy

Source: South Africa News Agency

South Africa is making significant progress in its historic Presidency of the Group of 20 (G20), having convened 51 meetings across various working groups since December 2024.

These meetings have addressed some of the most pressing challenges facing the global community and demonstrate a strong commitment to finding sustainable and innovative solutions through dialogue, collaboration, and cooperation.

This is according to Minister of International Relations and Cooperation, Ronald Lamola, who held a media briefing in Pretoria on Monday on South Africa’s G20 Presidency.

The Minister emphasised that progress should not be measured by the number of meetings held but by the tangible improvements in citizens’ lives and the promotion of global solidarity.

“Progress is not defined by the number of meetings we host or by the number of documents we deliver. Progress is defined by finding concrete and collective solutions to our challenges, and by how we improve the lives of all citizens, in particular the most vulnerable and most needy,” he said on Monday.

South Africa assumed the role of Presidency of the G20 on 1 December 2024, taking over from Brazil.

The nation is championing critical global priorities, including disaster resilience, debt sustainability for low-income countries, and a Just Energy Transition.

“From the recent meetings, it is important to note that while there are divergences on some issues, as to be expected in multilateral engagements, there is still overwhelming support for South Africa’s priorities by G20 Members.

“Furthermore, when our G20 Sherpa briefed the United Nations General Assembly in New York on our G20 priorities in March 2025, the meeting also expressed strong support for our G20 Presidency agenda.”

Meanwhile, he highlighted South Africa’s G20 Presidency’s efforts to strengthen African agency in global governance.

This includes the need for Africa to address economic development, political instability, and governance weaknesses, stressing the importance of youth employment, digitalisation, and inclusive growth.

The Presidency has established task forces on economic development, food security, and artificial intelligence governance.

This year’s Presidency aims to promote solidarity, equality, and sustainability, advocating for equitable credit, climate financing, and debt relief.

Lamola explained that the country’s Presidency is also undertaking a comprehensive review of the G20’s working methods, with plans to present findings at the upcoming summit at the Nasrec Expo Centre.

The key focus areas include strengthening multilateral cooperation, addressing climate change, and promoting inclusive economic growth.

“South Africa’s G20 Presidency stands firm in the belief that multilateral cooperation is not optional – it is imperative. Unilateral actions that undermine the rules-based order risk reversing decades of progress.”

South Africa is also focusing on the 80th anniversary of the United Nations, advocating for reforms in global governance and sustainable development.

“In the current geopolitical and geoeconomic global headwinds, there are high expectations on South Africa to deliver positive outcomes, advance innovative solutions to global challenges, and rebuild the trust of the international community in the G20.”

The Minister has urged South Africans to take ownership of the Presidency.

“Engage with it, own it, and hold us accountable.”

In addition, he announced the release of “Africa’s Call” song by Ndu Shezi featuring Wav Choir that embodies and reflects the spirit of Ubuntu, African identity, and G20 Presidency’s mission.

“This anthem, now streaming globally, is a reminder that culture and our common humanity unite us even as we debate and sometimes disagree on policies. I invite all citizens to listen, share, and let their message of hope resonate in all communities across South Africa.” – SAnews.gov.za

MIL OSI Africa –

May 13, 2025
MIL-OSI United Kingdom: Weimar+ Joint Statement on Ukraine and Euro-Atlantic security
Source: United Kingdom – Government Statements

News story

Weimar+ Joint Statement on Ukraine and Euro-Atlantic security

Joint statement by the Foreign Ministers of France, Germany, Italy, Poland, Spain, the United Kingdom plus the EU High Representative, following their meeting in London
We met in London on 12 May to discuss Russian aggression against Ukraine and Euro-Atlantic security.

On Ukraine, we reiterated our solidarity with the Ukrainian people, our sympathy for the victims of recent attacks by Russia, and our full support for Ukraine’s security, sovereignty and territorial integrity within its internationally recognised borders.

We welcomed US-led peace efforts and the prospect of further talks this week.  So far, Russia has not shown any serious intent to make progress. It must do so without delay. We joined Ukraine in calling for an immediate, full, unconditional 30-day ceasefire to create space for talks on a just, comprehensive and lasting peace.

Any peace will only last if it is based on international law including the UN Charter and Ukraine is able to deter and defend against any future Russian attack.

We discussed how we would further step up European efforts to support Ukraine in its ongoing defence against Russia’s war of aggression.  Ukraine should be confident in its ability to continue to resist successfully Russian aggression with our support.

Strong Ukrainian armed forces will be vital. We agreed to work with Ukraine on initiatives to strengthen Ukraine’s armed forces, restock munitions and equipment, and further enhance industrial capacity.

We are committed to robust security guarantees for Ukraine. This includes exploring the creation of a coalition of air, land and maritime reassurance forces that could help create confidence in any future peace and support the regeneration of Ukraine’s armed forces. And we will work on new reconstruction and recovery commitments, including at the Ukraine Recovery Conference in Rome on 10-11 July, to ensure that Ukraine’s future security is underpinned by a vibrant economy.

We agreed to pursue ambitious measures to reduce Russia’s ability to wage war by limiting Kremlin revenues, disrupting the shadow fleet, tightening the Oil Price Cap, and reducing our remaining imports of Russian energy. We will keep Russian sovereign assets in our jurisdictions immobilised until Russia ceases its aggression and pays for the damage caused.

On Euro-Atlantic security, we reaffirmed that NATO is the bedrock of our security and prosperity. The Alliance has secured peace for over 75 years. A strong, united NATO, based on a strong transatlantic bond, an ironclad commitment to defend each other, and fair burden-sharing, is essential to maintain this.

European countries must play a still greater role in assuring our own security. We will further strengthen NATO and the contribution of European Allies by stepping up security and defence expenditure to meet the requirement to deter and defend across all domains in the Euro-Atlantic area.

We will use all feasible levers to strengthen our collective defence capability and production and reinforce Europe’s technological and industrial base. To that end, we will build on work in NATO, the EU and likeminded groups to achieve these goals.

An enhanced security and defence relationship between the UK and EU is key to improving the lives of our people and making our continent more safe and secure, as will enhanced cooperation between NATO and the EU on the basis of the three Joint Declarations, and greater co-operation with Ukraine.

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Published 12 May 2025

Invasion of Ukraine

UK visa support for Ukrainian nationals

Move to the UK if you’re coming from Ukraine

Homes for Ukraine: record your interest

Find out about the UK’s response
MIL OSI United Kingdom –
May 13, 2025
MIL-OSI Russia: Integration processes in international trade and logistics discussed at conference in HSE

Translation. Region: Russian Federal

Source: State University Higher School of Economics – State University Higher School of Economics –

© Higher School of Economics

In the context of decoupling, Russia has become a center of attraction for Eurasian integration processes and can play a unifying role in the new multipolar world. This was discussed by participants and guests of the International Scientific and Practical Conference “Dimensions of Eurasian Integration: Transport and Logistics, Energy and Food Security”, which was held Institute of State and Municipal Administration (IGMU) HSE University.

The conference was attended by leaders of the domestic corporate sector, Russian and foreign industry experts and representatives of the diplomatic corps of friendly countries of the Arab East. Among the participating organizations were Russian Railways and Russian Railways Logistics, Russian Agricultural Bank, Renaissance Insurance, RusHydro and the Resource Group of Agricultural Enterprises, Sber and the Ministry of Tourism and Cultural Heritage of the Sultanate of Oman, the Chamber of Commerce and Industry of Russia and the Eurasian Economic Commission, and the International Research Institute for Management Problems.

Director of the Irkutsk State Medical University of the National Research University Higher School of Economics Andrey Zhulin noted that it is now important to listen to and hear professionals in the field of public administration and public-private partnership. “This will allow us to analyze successful practices in the field of integration processes during a period of fundamental changes in international trade and logistics,” he emphasized.

It is important that the conference is taking place at the Higher School of Economics. Over the past 30 years, it is the HSE, according to the director of the Irkutsk State Medical University, that has proven its importance for the national economy and has become a kind of assembly point for integration and management meanings.

Russia is attracting the attention of politicians and market players with increasing intensity, noted in turn the director of the Center for Interdisciplinary Studies of the Irkutsk State Medical University of the National Research University Higher School of Economics, member of the Russian-Omani Business Council under the Chamber of Commerce and Industry of the Russian Federation (CCI) Marat Zembatov. “Our country is called upon to play a unique unifying role – both as the center of gravity of Eurasia, and as a state-civilization with its own special economic and cultural structure, and as the center of the transport and logistics framework of the Eurasian economic space in the broad sense,” the expert said.

He recalled that earlier in Moscow, Russian President Vladimir Putin met with the Emir of Qatar Sheikh Tamim bin Hamad Al-Thani and Iranian Foreign Minister Abbas Araghchi. In the coming days, the Free Trade Agreement between the Eurasian Economic Union and Iran will come into force, and the Treaty on Comprehensive Strategic Partnership between Russia and this country has already been ratified. It is Moscow that is becoming the center of attraction for integration processes and the center for the formation of new integration meanings.

During the expert discussion, Ambassador Extraordinary and Plenipotentiary of the Republic of Yemen Ahmed Salem Al-Waheishi congratulated those gathered on the upcoming anniversary – the 80th anniversary of Victory in the Great Patriotic War and noted the invariably creative role of Russia in strengthening stability and ensuring food security in the Global South and Global East.

The use of modern transport, logistics and digital technologies to ensure the growth of foreign trade, including in the direction of the Arab East, North and East Africa, according to the ambassador, have become key factors in the successful implementation of Russia’s unifying role in organizing the use of international transport corridors.

Counselor of the Embassy of the Kingdom of Bahrain in the Russian Federation Salum Hossam Eddin, who delivered a welcoming speech on behalf of Ambassador Ahmed Abdulrahman Al-Saati, stated that friendly relations between Russia and the countries of the Arab East will receive an additional boost this year: already in June, at the St. Petersburg International Economic Forum, the Kingdom of Bahrain will be presented to participants as an honorary guest country.

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

MIL OSI Russia News –

May 13, 2025
MIL-OSI: CBAK Energy to Report First Quarter 2025 Unaudited Financial Results on Monday, May 19, 2025

Source: GlobeNewswire (MIL-OSI)

DALIAN, China, May 12, 2025 (GLOBE NEWSWIRE) — CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy”, or the “Company”), a leading lithium-ion battery manufacturer and electric energy solution provider in China, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2025 on Monday, May 19, 2025, before the U.S. market opens. The earnings results will be available on the Company’s Investor Relations website, and will be filed with the Securities and Exchange Commission on a Form 8-K.

CBAK Energy’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Monday, May 19, 2025 (8:00 PM Beijing/Hong Kong Time on May 19, 2025).

For participants who wish to join our call online, please visit:

https://edge.media-server.com/mmc/p/wfu5unoh

Participants who plan to ask questions at the call will need to register at least 15 minutes prior to the scheduled call start time using the link provided below. Upon registration, participants will receive the conference call access information, including dial-in numbers, a unique pin and an email with detailed instructions.

Participant Online Registration:

https://register-conf.media-server.com/register/BIb49b754e574a43e68068965ba0234966

Once completing the registration, please dial-in at least 10 minutes before the scheduled start time of the conference call and enter the personal pin as instructed to connect to the call.

A replay of the conference call may be accessed within seven days after the conclusion of the live call at the following website: https://edge.media-server.com/mmc/p/wfu5unoh

About CBAK Energy

CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian.

For more information, please visit ir.cbak.com.cn.

Safe Harbor Statement

This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.

Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management’s current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in China, that the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of our securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, the effects of the global Covid-19 pandemic or other health epidemics, changes in domestic and foreign laws, regulations and taxes, the volatility of the securities markets; and other risks including, but not limited to, the ability of the Company to meet its contractual obligations, the uncertain markets for the Company’s products and business, macroeconomic, technological, regulatory, or other factors affecting the profitability of our products and solutions that we discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

For further inquiries, please contact:

In China:

CBAK Energy Technology, Inc.
Investor Relations Department
Email: ir@cbak.com.cn

The MIL Network –

May 13, 2025
MIL-OSI Global: Population explosions and declines are related to the stability of the economy and the environment

Source: The Conversation – Canada – By Ken G. Drouillard, Professor, Great Lakes Institute for Environmental Research and Director of the School of the Environment, University of Windsor

A country’s population is affected by, and in turn affects, environmental and economic issues. (Shutterstock)

For 200 years, we’ve been warned of unchecked population growth and how it leads to environmental instability. On the other hand, today some countries face decreasing populations, alongside increasing proportions of elderly people, causing economic instability.

These two facets of population crises — explosions and declines — are occurring in different parts of the world, and have a global impact on the environment and on economies. Discussions about achieving economic and environmental sustainability must consider population changes, technology and the environment, given these concepts are closely interwoven.

Population explosions and declines are related to both environmental and economic instability; some countries make reactionary choices that trade off short-term domestic economic progress over the environment.

The crisis of population explosions

In 1798, English economist Thomas Malthus warned of a population explosion, inferring that population growth will outstrip agricultural production. Malthus’s ideas became re-popularized by American scientist Paul R. Ehrlich in his book published at the height of population growth in the 1960s. Both predicted that a population explosion would cause shortages in resources and escalating environmental damage.

Like Malthus, Ehrlich was criticized for a crisis “that never happened” because human ingenuity, a byproduct of population, overcomes the worst fears of environmentalists. This counter-argument relies on technological advances making more efficient use of resources while lowering the environmental impacts.

This is best exemplified by efficiency gains of agriculture that have continued to feed a growing world. Ehrlich’s predictions of cumulative environmental damage are best illustrated by the growing intensity of climate change and species loss as the global population continues to grow even though the current growth rate is slower than it was in the 1960s.

A graph reflecting how population growth, species diversity and global temperature correlate over time.
(K. Drouillard), CC BY

Unified growth theory describes how economies change over the long term. It starts with a period of slow technological progress, low income growth and high population growth. Over time, these conditions give way to a modern growth phase, where technology improves quickly, income rises steadily and population growth slows as societies go through a demographic transition towards stable population sizes.

Technological progress positively contributes to national economies over the long term. However, early adoption of green technology often relies on finance and government incentives that may imply short-term economic burdens. Yet when green technology is implemented and coupled to slowing population growth, it leads to decreasing national environmental footprints that pave a way towards joint environmental and economic sustainability.

The crisis of population declines

Declining populations cause inverted age pyramids with larger numbers of elderly people. These shifting demographics cause economic instability. They also constrain technological progress and social security.

Population declines work against the gains described by unified growth theory. Presently, 63 countries have reached their peak population and 48 more are expected to peak within 30 years. Fears of population decline are also being forecast at the global scale.

The global population is predicted to peak between the mid-2060s to 2100, stabilizing at 10.2 billion from its present 8.2 billion.

In their book, Empty Planet, political scientist Darrell Bricker and political commentator John Ibbitson warn that zero population growth will happen even faster. They argue once a country decreases its fertility to below replacement (2.1 children per woman), the social reinforcements of increasing urbanization, costs of raising children and increased empowerment over family planning make it almost impossible to increase the birth rate.

For highly affluent countries, the per capita GDP is decreasing as the proportion of elderly in the population increases. Although this pattern doesn’t hold when less affluent countries are added, the figure demonstrates tangible economic impacts for countries grappling with aging populations.

A graph showing the percentage of elderly people in a country’s population, correlated with GDP and adjusted for inflation.
(K. Drouillard), CC BY

Simultaneous explosions and declines

Affluent nations facing decline can react to economic instability in ways that counter global economic and environmental sustainability.

In the past, affluent nations were the drivers of green technology. However, economic instability from population declines can cause reluctance to invest, adopt and share green technology crucial for mitigating environmental damage at the global scale.

The issue is compounded by the fact that many countries overlook how their own decline in population growth contributes to economic instability. They instead focus on short-term solutions to their economic situation that may include unsustainable resource use.

Left unaddressed, the real issue of population decline becomes unresolved, allowing social anxieties against immigration and global trade to grow. This can exacerbate the issue halting technology sharing, slowing economic growth and increasing economic inequality and environmental damage.

The above is exemplified by policies now being implemented by the United States. Where immigration was previously used as a backstop against low fertility, growing cultural backlash to immigration pressures rooted in anxiety about economic uncertainties have generated new policies causing the deportation of millions of immigrants and closing borders. This will most likely accelerate a population decline in the U.S., as highlighted by a Congressional Budget Office report.

At the same time, the U.S. is shifting its energy policy away from increased shares of renewable, green energy sources back to a focus on fossil fuels that will worsen climate damage.

Climate damage costs are currently two per cent of global GDP, and may increase to between two to 21 per cent of some countries’ incomes by the end of the century. The growing applications of artificial intelligence (AI) and its high energy use will add to climate damage. AI may also contribute to the economic challenges related to population decline if it replaces, rather than supports, labour.

Finally, tariff wars add new barriers against green technology sharing.

Canada’s lowered immigration

Canada, which already has a low fertility rate and is reacting to the U.S. trade war, has its own challenges. This year, immigration targets were decreased by 19 per cent. The lack of support for and subsequent removal of the carbon tax and possible extension of pipeline infrastructure could generate similar delays in the transition away from fossil fuels.

Read more:
Who really killed Canada’s carbon tax? Friends and foes alike

In the most recent federal election, discussions about environmental policy were largely side-tracked by economic issues.

Our research indicates that Canada and other affluent nations need to establish longer-term solutions to economic instabilities that mitigate environmental damage while promoting sustainable national and global economies.

The United Nations Sustainable Development Goals offer pathways for economic, social and environmental sustainability. However, realizing these goals requires society to fully acknowledge the intertwined relationships between population growth, economy, environment and international technology-sharing in ways that transcend short-term national interests and reactionary policies.

The past decade has seen strong momentum from social and natural sciences as well as international organizations, business and civil society. Unfortunately, the current climate of economic uncertainty is halting this progress — unless the public can force broader discussions about sustainable approaches back into the political sphere.

Ken G. Drouillard receives funding from Natural Science and Engineering Research Council of Canada (NSERC), Canadian Water Agency, Environment and Climate Change Canada, St. Clair River Conservation Authority and North Shore of Lake Superior Remedial Action Plans.

Claudio N. Verani receives/has received funding from the U.S. National Science Foundation (NSF), U.S. Department of Energy (DoE), Petroleum Research Fund (ACS-PRF), and the Natural Science and Engineering Research Council of Canada (NSERC).

Marcelo Arbex has received funding from University of Windsor UW-SSHRC Explore.

– ref. Population explosions and declines are related to the stability of the economy and the environment – https://theconversation.com/population-explosions-and-declines-are-related-to-the-stability-of-the-economy-and-the-environment-253302

MIL OSI – Global Reports –

May 13, 2025
MIL-OSI USA: Residential electric bills in Hawaii and Connecticut are twice those in New Mexico, Utah

Source: US Energy Information Administration

In-brief analysis

May 12, 2025

The average electric monthly bill for U.S. residential customers was $144 in 2024, but average costs for customers in some states were much higher or lower. Customers in states such as Hawaii and Connecticut, where retail electricity prices are relatively high, paid more than $200 per month for electricity, or more than twice as much as customers in states such as New Mexico and Utah.

Monthly electricity bills are the product of two factors: retail electricity prices and the amount of grid-delivered electricity that customers consume. Although we do not directly survey retail electricity prices or bills in our monthly electricity surveys, we estimate bills by dividing the utilities’ revenue from residential customers by the number of residential customers. Similarly, we estimate retail prices by dividing utility revenue from residential customers by electric retail sales to residential customers.

Average U.S. electricity prices and consumption were both higher in 2024 compared with 2023. The average U.S. residential electricity price rose from 16.0 cents per kilowatthour (kWh) in 2023 to 16.5 cents/kWh in 2024. Monthly electricity consumption per residential customer averaged 865 kWh in 2024, or 2% more than the average value in 2023.

Customers in Hawaii had the highest average monthly bills in 2024, at $213 per month, despite consuming the least amount of grid-delivered electricity, on average. Although many homes in Hawaii have solar photovoltaic systems that reduce the need for grid-delivered electricity, most of that grid-delivered electricity generated in Hawaii comes from petroleum-fired generators. Electricity prices in Hawaii are high because petroleum-fired electricity generation is expensive compared with other energy sources.

Customers in Utah had the lowest average monthly bills at $89 per month. The six states with the lowest residential bills are all in the Rocky Mountain region: Utah, New Mexico, Colorado, Wyoming, Montana, and Idaho. These states tend to have lower-than-average residential electricity prices and consumption. Delivered costs for coal and natural gas, which are prevalent sources for electricity generation in Rocky Mountain states, were lower in 2024 than in 2023.

Louisiana had the highest average electricity consumption, as Louisiana’s residential customers used more than twice as much electricity from the grid as those in Hawaii or California. However, because electricity prices are so much lower in Louisiana, residents paid an average of $142 per month, or nearly equal to the national average. Southeastern states tend to consume more electricity than other states because customers use more air conditioning in the summer and use electric, rather than natural gas, space-heating equipment in the winter.

Principal contributors: Alex Gorski, Owen Comstock

MIL OSI USA News –

May 13, 2025
MIL-OSI: Pieridae Energy Changes Name to Cavvy Energy

Source: GlobeNewswire (MIL-OSI)

Not For Distribution to United States News Wire Services or Dissemination in United States

CALGARY, Alberta, May 12, 2025 (GLOBE NEWSWIRE) — Cavvy Energy Ltd. (formerly Pieridae Energy Limited) (“Cavvy” or the “Company”) (TSX:PEA) is pleased to announce that the Company has changed its name from Pieridae Energy Limited to Cavvy Energy Ltd., effective May 9, 2025.

The Company first announced its intention to change its name on March 27, 2025 and obtained shareholder approval for the name change at the Company’s Annual and Special Meeting of Shareholders (the “Meeting”) held on May 8, 2025. The Company received approval from the Toronto Stock Exchange (the “TSX”) in respect of the name change and expects that its common shares will begin trading on the TSX under the new name and the ticker symbol “CVVY” as of the open of markets on May 13, 2025.

Following the name change, the Company also completed the previously announced continuance out of the federal jurisdiction of Canada under the Canada Business Corporations Act and into the provincial jurisdiction of Alberta under the Business Corporations Act (Alberta) (the “ABCA”), effective May 9, 2025. As a result of the continuance, the Company now exists under and is governed by the ABCA. Additionally, in connection with the continuance, the Company has adopted new by-laws under the ABCA. The continuance, including the adoption of the new by-laws in connection therewith, was approved by shareholders at the Meeting.

No action is required to be taken by the Company’s shareholders in respect of the name change or the continuance. The Certificate and Articles of Amendment effecting the name change, Certificate and Articles of Continuance effecting the continuance and new by-laws of the Company are available on the Company’s website and under the Company’s SEDAR+ profile at www.sedarplus.ca.

About Cavvy Energy

Cavvy Energy is a Canadian energy company headquartered in Calgary, Alberta. The Company is a significant upstream producer and midstream custom processor of natural gas, NGLs, condensate, and sulphur from Western Canada. Cavvy’s vision is to provide responsible, affordable natural gas and derived products to meet society’s energy security needs.

For further information, visit www.cavvyenergy.com, or please contact:

Darcy Reding, President & Chief Executive Officer Adam Gray, Chief Financial Officer

Telephone: (403) 261-5900 Telephone: (403) 261-5900

Investor Relations
investors@cavvyenergy.com

Forward-Looking Statements

Certain of the statements contained herein may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws (collectively “forward-looking statements”), including the Company’s expectation that its common shares will begin trading under the new name and stock symbol “CVVY” on the TSX on May 13, 2025. Words such as “will”, “intend”, “expect”, “vision”, “strategy” and similar expressions may be used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management.

Forward-looking statements are based on a number of factors and assumptions which have been used to develop such forward-looking statements, but which may prove to be incorrect. Although Cavvy believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because Cavvy can give no assurance that such expectations will prove to be correct. A number of risk factors could cause actual results to differ materially from those anticipated, expressed or implied by the forward-looking statements contained herein. For more information about the assumptions and risks associated with the forward-looking statements contained herein, see “Forward Looking Information” and “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2024 and “Cautionary Note Regarding Forward-Looking Information” in the Company’s Management’s Discussion and Analysis for the year ended December 31, 2024, each of which can be accessed through the Company’s SEDAR+ profile at www.sedarplus.ca.

Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, management cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and Cavvy assumes no obligation to update or review them to reflect new events or circumstances except as required by applicable securities laws.

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

The MIL Network –

May 13, 2025
MIL-OSI: LIS Technologies Inc. Appoints Ryan Norton as its Senior Mechanical Design Engineer
Source: GlobeNewswire (MIL-OSI)

Oak Ridge, Tennessee, May 12, 2025 (GLOBE NEWSWIRE) — LIS Technologies Inc. (“LIST” or “the Company”), a proprietary developer of advanced laser technology and the only USA-origin and patented laser uranium enrichment company, today announced that Ryan Norton has joined the Company as its Senior Mechanical Design Engineer.

Ryan Norton is an engineer with a background in mechanical and optomechanical design and analysis for both R&D and commercial products. His experience spans research, design and analysis of downhole drilling and laser tools, surface equipment and electronics packaging for space.

Figure 1 – LIS Technologies Inc. Appoints Ryan Norton as its Senior Mechanical Design Engineer.

During his time at Foro Energy, Ryan played a pivotal role in developing high-power laser tools for the energy sector. He led the design and testing of various groundbreaking optomechanical systems like the world’s first high power optical slip ring and novel hard rock laser drilling systems using both gases and fluids. He also worked on various other technologies such as high-performance nozzles, fiber optic connectors and high-pressure laser windows. His work has resulted in multiple patents related to high-power laser energy transfer and drilling technologies.

Ryan holds a B.S. in Engineering with a Mechanical concentration and a minor in Mathematics from LeTourneau University.

“It is a pleasure to welcome Ryan to LIS Technologies at this key junction,” said Christo Liebenberg, CEO and Co-Founder of LIS Technologies Inc. “His expertise will be instrumental as we move into the next phases of CRISLA development, and he will play a key part in facilitating the demonstration activities essential to CRISLA’s growth and expansion.”

In his role, Ryan will support the development of mechanical solutions that drive advancement in the Company’s proprietary CRISLA-3G laser isotope separation technology, which was recently evaluated and determined to meet all elements required for a Technology Readiness Level (TRL) of 4.

“LIS Technologies is broadening its capabilities and assembling a team equipped with the knowledge and expertise to be a leading innovator in the space,” said Jay Yu, Executive Chairman and President of LIS Technologies Inc. “Engaging key professionals like Ryan is vital to sustaining our growth trajectory and I welcome him to the team.”

About LIS Technologies Inc.

LIS Technologies Inc. (LIST) is a USA based, proprietary developer of a patented advanced laser technology, making use of infrared lasers to selectively excite the molecules of desired isotopes to separate them from other isotopes. The Laser Isotope Separation Technology (L.I.S.T) has a huge range of applications, including being the only USA-origin (and patented) laser uranium enrichment company, and several major advantages over traditional methods such as gas diffusion, centrifuges, and prior art laser enrichment. The LIST proprietary laser-based process is more energy-efficient and has the potential to be deployed with highly competitive capital and operational costs. L.I.S.T is optimized for LEU (Low Enriched Uranium) for existing civilian nuclear power plants, High-Assay LEU (HALEU) for the next generation of Small Modular Reactors (SMR) and Microreactors, the production of stable isotopes for medical and scientific research, and applications in quantum computing manufacturing for semiconductor technologies. The Company employs a world class nuclear technical team working alongside leading nuclear entrepreneurs and industry professionals, possessing strong relationships with government and private nuclear industries.

In Dec 2024, LIS Technologies Inc. was selected as one of six domestic companies to participate in the Low-Enriched Uranium (LEU) Enrichment Acquisition Program. This initiative allocates up to $3.4 billion overall, with contracts lasting for up to 10 years. Each awardee is slated to receive a minimum contract of $2 million.

For more information please visit: LaserIsTech.com

For further information, please contact:

Email: info@laseristech.com

Telephone: 800-388-5492

Follow us on X Platform

Follow us on LinkedIn

Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. For LIS Technologies Inc., particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following which are, and will be, exacerbated by any worsening of global business and economic environment: (i) risks related to the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, loss of key individuals and uncertainty of success of patent filing, (ii) our ability to obtain contracts and funding to be able to continue operations and (iii) risks related to uncertainty regarding our ability to commercially deploy a competitive laser enrichment technology, (iv) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission; and other risks and uncertainties discussed in this and our other filings with the SEC. Only after successful completion of our Phase 2 Pilot Plant demonstration will LIS Technologies be able to make realistic economic predictions for a Commercial Facility. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

Attachment
- LIS Technologies Inc.
The MIL Network –
May 13, 2025
MIL-OSI: Enphase Energy Expands in Europe with the IQ Balcony Solar System in Belgium
Source: GlobeNewswire (MIL-OSI)

FREMONT, Calif., May 12, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, today announced the launch of the Enphase^® IQ^® Balcony Solar System in Belgium. Designed for plug-and-play installation, the new system empowers apartment dwellers and homeowners with limited roof space to generate their own clean energy from balconies, patios, and small outdoor areas. It’s also a simple and affordable solution for fully off-grid use cases, offering reliable daytime power for cabins, camping sites, mobile home setups, and more. The IQ Balcony Solar System includes Enphase IQ8HC™ Microinverters, IQ^® Balcony Gateway, and other components. Enphase also recently launched the product in Germany.

Balcony solar systems – or “plug-in solar” systems – are rapidly expanding access to clean energy for residents without traditional rooftop space. Belgium legalized balcony solar systems for the first time in April 2025, as the country targets a 40% increase in solar capacity by the end of this year. The Enphase IQ Balcony Solar System will help more people participate in the energy transition, supporting greater energy independence across Europe.

The IQ Balcony Solar System offers the following key features:
- Do-it-yourself installation: The system has an easy setup with plug-and-play connectors for self-installation and commissioning through the Enphase^® App.
- Off-grid operation: The system’s IQ Microinverters switch seamlessly between grid-tied and off-grid modes, so connected devices can stay powered during daytime grid outages, or function entirely off-grid when the sun is shining in rural or remote areas where grid power isn’t available.
- Scalable solution: Homeowners can start with a small system and expand over time using an Enphase expansion kit as energy needs grow. Additional energy from the expansion kit can be harvested using the auxiliary socket.
- Integrated connectivity: The system offers a simplified setup using Wi-Fi or cellular data, supported by a 5-year data plan for seamless monitoring and updates.
- Highly reliable: The IQ8HC Microinverters come with an IP67 rating, while the IQ Balcony Gateway has an IP65 rating and a 5-year warranty.
“We’re seeing a surge in interest from Belgians looking for easy-to-install systems that can help deliver real energy savings,” said Brent Groven, head of renewables procurement at GROEP Alelek, a distributor of Enphase products in Belgium. “The IQ Balcony Solar System makes solar energy available to people in apartments and homes who couldn’t participate before.”

The standard Enphase IQ Balcony Solar Kit includes two IQ8HC Microinverters, one IQ Balcony Gateway, IQ^® Cables, and one AC Power Cable. Retailers can bundle it with solar panels and racking before it is sold. The scalable system can accommodate up to seven IQ8HC Microinverters and panels, enabling the system to evolve with energy needs. System owners can easily install the system on their own and commission it using the Enphase App, which also allows users to monitor and view their energy production.

“The IQ Balcony Solar System is a simple, powerful, and user-friendly solar balcony solution,” said Wiet Vande Velde, CEO of EnergyKing, an installer of Enphase products in Belgium. “We are excited about its scalability, reliability, and high performance, which we believe will enable more Belgians to achieve energy independence and resilience while reducing their utility costs.”

“With the launch of the IQ Balcony Solar System in Belgium, we’re continuing to expand how and where people can access clean energy,” said Sabbas Daniel, senior vice president of sales at Enphase Energy. “This is a meaningful step in our broader European growth strategy, and we’re excited to bring more innovative, space-efficient solar solutions to customers across the region.”

The Enphase IQ Balcony Solar System is available for purchase today on the Enphase website or with select partners. Solar panels, shelves, and mounting hardware are not included in this kit and must be purchased separately. To learn more about Enphase’s IQ Balcony Solar System in Belgium, visit the websites for homeowners (French and Dutch) and installers (French and Dutch).

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power – and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 81.5 million microinverters, and approximately 4.8 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://enphase.com/.

©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. in the U.S. and other countries. Other names are for informational purposes and may be trademarks of their respective owners.

Forward-Looking Statements

This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality, and reliability; the ability of more people to participate in the energy transition; Enphase Energy’s ability to support greater energy independence across Europe; and statements regarding the timing and availability Enphase Energy’s products in Belgium. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

Contact:

Enphase Energy

press@enphaseenergy.com

This press release was published by a CLEAR® Verified individual.

The MIL Network –
May 13, 2025
MIL-OSI: LNG Energy Group Announces Cease Trade Order

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 12, 2025 (GLOBE NEWSWIRE) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FWB: E26) (the “Company” or “LNG Energy Group”) announces that, further to the news release dated May 7, 2025, the Ontario Securities Commission (the “OSC”), has notified the Company that it has issued a failure-to-file cease trade order (“FFCTO”), under Multilateral Instrument 11-103 – Failure-to-File Cease Trade Orders in Multiple Jurisdictions against the Company (“MI 11-103”). The FFCTO was issued as a result of the delay in the filing of the Company’s annual audited financial statements for the fiscal year ended December 31, 2024, the related management’s discussion and analysis, and the CEO and CFO certificates relating to the audited annual financial statements as required by National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings (collectively, the “Required Documents”) for the fiscal year ended December 31, 2024.

As stated in the Company’s news release dated May 7, 2025, the Company was unable to file the Required Documents prior to the April 30, 2025 filing deadline. LNG Energy Group continues to work diligently with its auditors and expects to file the Required Documents within two months of the filing deadline. The Company anticipates that the FFCTO will remain in place until such time as the Required Documents are filed.

The FFTCO prohibits any trading, whether direct or indirect, in respect of any security of the Company in which MI 11-103 applies, except in accordance with the FFCTO, until such time as the Company is able to file the Required Documents and successfully apply for a revocation of the FFCTO. If the Required Documents are filed within 90 days of the date of the FFCTO, such filings will constitute the Company’s application to have the FFCTO revoked. There can be no assurance that the FFCTO will be revoked on the timeline contemplated by the Company.

About LNG Energy Group

The Company is focused on the acquisition and development of natural gas production and exploration assets in Latin America. For more information, please visit www.lngenergygroup.com.

For more information please contact:

Angel Roa, Chief Financial Officer LNG Energy Group Corp.
Website: www.lngenergygroup.com
Email: investor.relations@lngenergygroup.com

Find us on social media:
LinkedIn: https://www.linkedin.com/company/lng-energy-group-inc/
Instagram: @lngenergygroup
X: @LNGEnergyCorp

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains certain forward-looking information that reflect the current views and/or expectations of management of LNG Energy Group with respect to performance, business and future events. Forward-looking information can often be identified by words such as “may”, “will”, “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “intends”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which LNG Energy Group operates. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking information, readers should not place undue reliance on such information. The risks and uncertainties include, but are not limited to, the anticipating timing of filing the Required Documents. Forward-looking information is current as of the date it is made and is based on reasonable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. LNG Energy Group does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the 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 –

May 13, 2025
MIL-OSI USA: Rep. Craig, Senators Klobuchar and Smith Demand Answers on Frozen Energy Projects for Rural Minnesota

Source: United States House of Representatives – Congresswoman Angie Craig (MN-02)

WASHINGTON, DC – U.S. Representative Angie Craig (MN-02) and Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) demanded answers from the Administration about the status of key renewable energy projects that help Minnesota farmers and small businesses lower their costs.

In a letter to Department of Agriculture Secretary Brooke Rollins, the Members pressed the Administration on their decision to freeze critical Rural Energy for America Program (REAP) grants set aside for agricultural producers and rural small businesses to install renewable, clean energy systems or make their operations more energy efficient.

“We write to express our deep concern over reports that hundreds of contracted awards under the Rural Energy for America Program (REAP) remain frozen and inaccessible to Minnesota farmers and rural small businesses,” the lawmakers wrote. “This back and forth from the Department on a critical program has created a lot of uncertainty for rural communities in Minnesota.”

“Since its inception in the bipartisan Farm Bill in 2008, REAP has provided grants and loans that have helped more than 21,000 farms and rural businesses nationwide access affordable, renewable energy and energy efficiency systems,” the lawmakers continued. “Farmers have invested thousands of their own dollars into these projects because they are counting on the Federal government to uphold its commitments. At a time when the cost of operations is high and farmers’ access to markets is uncertain, supporting American farmers is critical.”

You can read the full letter here.

MIL OSI USA News –

May 12, 2025
MIL-OSI: Enwave Announces Expansion of Energy from Waste District Heating Facility in Prince Edward Island, Avoiding Landfill for Nearly 90% of the Black Cart Residential Waste in Province

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 12, 2025 (GLOBE NEWSWIRE) — Enwave Energy Corporation (Enwave) has announced today the commitment to build a new waste processing facility in Prince Edward Island, beginning this fall. The facility will be in operation by 2028 and will replace the existing end-of-life system. Enwave, in partnership with the Province of Prince Edward Island, has proudly undertaken this expansion to address the growing need to identify sustainable waste solutions in the province.

The existing district energy plant converts municipal solid waste and biomass — scrap wood from forest harvesting operations — to energy and provides that energy to its customers through the interconnected district energy network. After nearly thirty years of operation, the plant is approaching end-of-life and will be replaced with the new, expanded facility. Since 2017, the Province of Prince Edward Island and Enwave have collaborated on this project with a united goal to reduce waste and Greenhouse Gas (GHG) emissions at a time when sustainable waste solutions are needed more than ever.

This new, state-of-the-art facility is capable of processing 90% of the province’s total black cart residential waste, significantly reducing landfill waste. The expansion of this critical facility will significantly replace the use of fuel oil for heating while providing further reliability and redundancy to more than 145 connected buildings in Charlottetown, the province’s capital city, including the Queen Elizabeth Hospital, the University of Prince Edward Island, schools and residences. Enwave’s district energy system has a proven track record as a reliable and critical source of energy in the province, having maintained uninterrupted operations to critical customers during recent natural phenomena such as hurricanes Juan, Dorian and Fiona, as well as during the hurricane-strength blizzard, White Juan, in 2004.

Rendering of Enwave’s new waste processing facility in Prince Edward Island, anticipated to be in operation by 2028 to replace the existing end-of-life system.

Enwave brings more than thirty years of experience in advanced Waste-to-Energy systems to the project, a proven path to avoiding landfill waste and reducing GHG emissions. Through this expansion, the annual impact of avoiding landfill by using up to 49,000 tonnes of municipal solid waste for heating will amount to GHG savings of up to 908,000 tonnes of CO2e by 2052, equivalent to taking 278,000 cars off the road.

Leveraging Waste-to-Energy technology provides a real solution and tangible option for communities around the country to reduce the need for additional landfills and help to meet carbon emission reduction targets. With global waste forecasted to increase 70% by 2050, this project is a testament to scalable and sustainable pathways that directly address concerns of rising waste.

“We are very grateful for the support and confidence of the government of PEI and the people of this province, enabling us to make this long-term commitment as a critical energy partner,” says Carlyle Coutinho, CEO of Enwave Energy Corporation. “The eight-year journey to get to this point has seen many hurdles, however both Enwave and the province have remained committed to making this expansion a reality. This project is an example of how governments and private companies can work together to achieve long-term, sustainable solutions at scale through a shared purpose, creating a better world for today and generations to come.”

“Waste to Energy technology is a great example of a sustainable, innovative solution to meeting PEI’s energy needs,” says PEI Environment, Energy and Climate Action Minister Gilles Arsenault. “This expansion helps us continue to minimize energy costs for important provincial buildings and reduce greenhouse gas emissions. As an added benefit, using this waste for energy helps us extend the life of our existing landfill.”

Enwave’s expansion of the waste processing facility and operations will nearly double existing waste processing capacity while directly aligning with Charlottetown’s Vision for a Sustainable Energy Future by transitioning to renewable clean energy and incorporating sustainable innovation and technology.

“The CIB is proud to be a part of this project given the important role it will play in modernizing the city’s district energy system, ensuring affordable and clean energy supply to more than 145 connected buildings in the Charlottetown core,” says Ehren Cory, CEO, Canada Infrastructure Bank.

The new waste processing facility expansion is supported financially by the Canadian Infrastructure Bank through an aggregate facility of $600M supporting innovative energy projects across Enwave’s portfolio, including Lakeview Village in Mississauga, Ontario (Wastewater Heat Recovery technology), Etobicoke Civic Centre in Toronto (Geo-exchange technology), and this project in PEI (Waste-to-Energy technology).

Enwave has worked closely alongside key partners that are critical to the success of the PEI expansion project, including Maple Reindeers Constructors Ltd., Marco Group, Ramboll Group A/S, Coles Associates Ltd., Stantec, Martin GmbH, ANDRITZ TEP, LAB SA and Kone Cranes Canada Inc.

A ceremony announcing the official groundbreaking of the new waste processing facility will take place in the fall of 2025.

About Enwave

Enwave is one of the largest commercial owner and operators of community-based district energy systems in North America. They develop reliable, commercial and sustainable energy solutions at scale, tailored to the unique needs of municipalities, commercial developments, universities, hospitals, data centres and residential communities. Enwave provides thermal energy services to over 100 million square feet of mixed-use space across Canada using a variety of technologies including Deep Lake Water Cooling, thermal storage, geoexchange, biomass and energy-from-waste. Enwave was acquired by Ontario Teachers’ Pension Plan & IFM Investors in 2021. Since its founding over 20 years ago, Enwave has invested over $1 billion in Canadian infrastructure.

https://www.enwave.com

For more information, interview requests or high-res images please contact:

Katie Good, GoodPR
katie@goodpr.ca
(416) 540-2195

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/09037f6e-0b81-4106-acf2-051e5ef0ebc3

The MIL Network –

May 12, 2025
MIL-OSI Russia: Rosneft Day was held at the Siberian Federal University

Translation. Region: Russian Federal

Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

Rosneft organized a large-scale career guidance event for students of the Institute of Oil and Gas of the Siberian Federal University. About a thousand students and teachers of the university took part in the Rosneft Day. Employees of the Company’s enterprises operating in Krasnoyarsk Krai, Bashkiria, Khanty-Mansiysk Autonomous Okrug-Yugra and Irkutsk Oblast told potential employees about employment opportunities.

Oil workers held thematic lectures, master classes, competitions and quizzes for students in various areas of the oil and gas industry. Students learned about the achievements and development prospects of Rosneft enterprises and learned about the most sought-after professions in the industry.

One of the key events was the “job fair”, where students were able to receive advice on employment prospects and learn about the possibilities of targeted training, internships, including at remote sites of the large-scale project of the Vostok Oil Company. Young specialists of RN-Vankor (the operator of the Vostok Oil project) told the guests about professional training and mentoring programs at the enterprise, prospects for participation in research activities, and about organizing a comfortable life for shift workers. The oil workers also organized an assessment of the professional competencies of future colleagues in a game-based interactive format.

The management of Vostsibneftegaz held an informal meeting “without ties” for students, and the company’s young specialists held a quiz and a master class “try on a profession”.

Rosneft provides comprehensive support to the Siberian Federal University, develops its material and technical base, issues corporate grants and scholarships for teachers and students, and provides students with opportunities for practical training.

Rosneft’s youth policy is aimed at attracting new qualified specialists to work for the Company and their effective adaptation in production. Thus, in 2024, more than 420 university students completed their internship at the Company’s enterprises. More than 100 graduates were employed and received the status of “young specialist”, which provides additional opportunities for the development of professional competencies.

Reference:

In Krasnoyarsk Krai, Rosneft is represented by such large enterprises as RN-Vankor, East Siberian Oil and Gas Company, Slavneft-Krasnoyarskneftegaz, Achinsk Oil Refinery, RN-Bureniye, RN-KrasnoyarskNIPIneft, RN-Krasnoyarsknefteprodukt, TaimyrBurService, TBS-Logistics, RN-Service, RN-Remont NPO.

For the first time this year, representatives of Bashneft (Republic of Bashkortostan), Angarsk Petrochemical Company (Irkutsk Region) and RN-GRP (Khanty-Mansiysk Autonomous Okrug-Yugra) took part in Rosneft Day.

Department of Information and Advertising of PJSC NK Rosneft May 12, 2025

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

MIL OSI Russia News –

May 12, 2025
MIL-OSI Russia: Student “ISI.FORUM”: from choosing a profile to career growth

Translation. Region: Russian Federal

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

The Polytechnic University hosted two tracks of the ISI.FORUM student forum: ISI.CHOICE and ISI.CAREER. The ISI.CHOICE track is a traditional event for first- and second-year undergraduate and specialist students. Its goal is to help students decide on their choice of study profile and receive detailed information about training areas.

The track featured the heads of the ISI educational programs: Deputy Director for Educational and Methodological Work and Head of the “Construction of High-Rise and Large-Span Buildings and Structures” program Maxim Terekh, Head of the “Urban Construction and Economy” program Alexander Chusov, Head of the “Hydrotechnical, Energy and Arctic Construction” program Nikolai Belyaev, and Head of the “Motor Roads” program Anatoly Novik.

Students were able to ask questions not only to teachers, but also to graduates of these programs, who shared their experiences and talked about employment prospects.

Deputy Director of the Institute for Organisation of the Educational Process and Work with Students Asiyat Eliseeva spoke about the key aspects of distribution by profiles and gave recommendations on how to successfully write an application. During breaks between presentations, participants visited interactive zones, where they studied examples of profile works and talked with graduates. The event ended with a dialogue, during which first-year students discussed current issues of career growth and choosing an educational trajectory with graduates.

The forum continued with the final track — “ISI.CAREER”, a large job fair organized by ISI students at the Research Building “Technopolis Polytech”. The event brought together more than 350 participants, including students from SPbPU, St. Petersburg State University of Architecture and Civil Engineering and Emperor Alexander I St. Petersburg State University of Railway Engineering.

More than 20 large construction companies took part in the forum, such as Setl Group LLC, SKY TEAM Group, Atomenergoproekt JSC, Fertoing LLC, LIIS Engineering Solutions LLC, LSR Group, TITAN-2 CONCERN JSC, GloraX and others.

Participants were able to personally communicate with company representatives, learn about employment opportunities and take part in interactive zones.

The organizers arranged five thematic lectures.

“Design of metal structures of buildings and structures”. The lecture was given by Evgeny Kazhentsev, Development Director of the SPb-Giproshakht company, and Anton Bakulin, Chief Specialist in TIM in the construction direction of the SPb-Giproshakht company. “Features of designing and calculating foundations for machines with dynamic impact”. The speaker was Pavel Pudikov, a 1st category design engineer at the Atomenergoproekt company. “The art of writing a resume”. The lecture was given by Alina Tysevich, HR specialist at Domgazobeton. “Design and calculation of structures of unique high-rise buildings”. The material was presented by Mikhail Nazarov, Chief Specialist in automation of calculations of building structures at the AREH design bureau. “How to get the most out of BIM technologies”. The lecture was given by Evgeny Nesterov, Head of the Information Modeling Department at LIIS Engineering Solutions.

This season, we have noted increased student involvement. The total number of participants in the ISI.FORUM project exceeded 500 people. In addition, the activity of representatives of construction companies has increased significantly. Their number has almost doubled compared to last year. These figures indicate that ISI.CAREER has secured its status as a significant event not only for the Civil Engineering Institute, but also for its students, — shared the director of the ISI.FORUM project, first-year master’s student at ISI Gleb Fomenko.

This year, participants demonstrated a higher level of preparation for interviews and practical training in working in the company, noted representatives of construction companies.

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

MIL OSI Russia News –

May 12, 2025
MIL-OSI Africa: Invest in African Energy (IAE) 2025: Exploring Global Partnerships to Unlock Africa’s Energy Potential

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

PARIS, France, May 12, 2025/APO Group/ —

The Invest in African Energy (IAE) 2025 forum in Paris will host a high-level panel discussion on “The Future of Global Energy Partnerships: Seizing Africa’s Untapped Market Opportunities”, sponsored by Energean. Bringing together African energy ministers, CEOs and leading energy executives, the session will explore how shifting global dynamics are reshaping cross-border collaboration and investment strategies in Africa’s energy sector.

The panel will be moderated by NJ Ayuk, Executive Chairman of the African Energy Chamber, and will feature: Bruno Jean-Richard Itoua, Minister of Hydrocarbons, Republic of Congo; Maggy Shino, Petroleum Commissioner, Minister of Mines and Energy, Namibia; Mathios Rigas, CEO, Energean; and Marco Villa, Chief Business Officer, Technip Energies.

IAE 2025 (apo-opa.co/43pj29T) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

As international players from the Middle East and BRIC nations expand their global energy footprint, Africa is becoming an increasingly vital partner in advancing shared goals around energy security, industrial growth and sustainable development. Countries like the Republic of Congo, Gabon and Nigeria are at the center of this momentum, offering a diverse mix of upstream and midstream assets, growing domestic demand and a clear push for value-added investment in petrochemicals and infrastructure. This panel will examine how strategic partnerships – whether through equity participation, joint ventures or technical collaboration – are unlocking opportunities across Africa’s oil, gas, power and petrochemical sectors, while also helping to close investment and capacity gaps.

The session will provide firsthand insights from the policymakers and executives driving these initiatives, highlighting how countries are positioning themselves to attract capital and what international players consider bankable, high-value opportunities. From gas monetization strategies in Nigeria to integrated development plans in Congo and downstream expansion in Gabon, the discussion will explore the key factors fueling global investment interest in Africa’s energy landscape.

MIL OSI Africa –

May 12, 2025
MIL-OSI China: EV battery giant CATL begins Hong Kong IPO

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

People visit the booth of CATL at the 12th Energy Storage International Conference and Expo (ESIE) at Shougang Exhibition and Convention Center in Beijing, capital of China, April 11, 2024. [Photo/Xinhua]

Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) on Monday launched its public offering in Hong Kong.

According to the prospectus published on the official website of the Hong Kong Exchanges and Clearing Limited, the offering period will end on May 16, and the company is expected to be listed on the Hong Kong Stock Exchange on May 20.

According to the prospectus, the maximum offering price for CATL is 263 HK dollars (about 33.76 U.S. dollars) per share, with the stock code 3750. The expected number of shares for the initial global offering is 117,894,500.

In this offering, CATL will issue 8,842,100 shares in Hong Kong, while 109,052,400 shares will be offered internationally.

Edward Au, southern region managing partner at Deloitte China, estimated that the total fundraising will be at least 4 billion U.S. dollars, potentially making it the largest IPO in Hong Kong since the listing of video sharing app Kuaishou in 2021.

CATL is an innovative new energy technology company, primarily engaged in the research, development, production, and sales of EV batteries and energy storage system batteries. It had established six major R&D centers and 13 battery manufacturing bases worldwide, with service outlets spanning 64 countries and regions. (1 U.S. dollar equals 7.78 HK dollars)

MIL OSI China News –

May 12, 2025

MIL-OSI: Diversified Energy Announces First Quarter Dividend

Source: GlobeNewswire (MIL-OSI)

BIRMINGHAM, Ala., May 12, 2025 (GLOBE NEWSWIRE) — Diversified Energy Company PLC (LSE: DEC, NYSE:DEC) (“Diversified” or “the Company”) is pleased to announce that the Board has declared an interim dividend of 29 cents per share in respect of 1Q25 for the three month period ended March 31, 2025.

Key dates related to this dividend include:
	Record Date:	August 29, 2025
	Payment Date:	September 30, 2025
	Default Currency:	US Dollar
	Currency Election Option:	Sterling
	Last Date for Currency Election:	September 5, 2025

Diversified will pay the dividend in U.S. dollars while continuing to make available to shareholders a sterling election. For those shareholders who wish to receive their dividend payment in sterling, and who have not yet completed a currency election form, the Company has made available a dividend election form on its website at https://ir.div.energy/dividend-information. Shareholders who wish to receive sterling should submit the currency election form to Computershare Investor Services no later than September 5, 2025.

Diversified will announce the sterling value of the dividend payable per share approximately two weeks prior to the payment date.

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No. 596/2014 on Market Abuse (“UK MAR”), as it forms part of the UK domestic law by virtue of the European Union (Withdrawal) Act 2018.

For further information, please contact:

Diversified Energy Company PLC	+1 973 856 2757
Doug Kris	dkris@dgoc.com
Senior Vice President, Investor Relations & Corporate Communications	www.div.energy

FTI Consulting	dec@fticonsulting.com
U.S. & UK Financial Public Relations

About Diversified Energy Company PLC

Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our unique differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

The MIL Network –

May 12, 2025

MIL-OSI: Diversified Energy Reports Strong First Quarter 2025 Results Driven by Increased Top-Line Revenue Generation and Operational Discipline

Source: GlobeNewswire (MIL-OSI)

Maintaining Momentum into Second Quarter 2025 and Remain on Track to Achieve Full Year 2025 Guidance

Closed Maverick Acquisition Continuing to Execute our Strategy as the PDP Champion

Returned Over $59 million to Shareholders Through Dividends and Repurchases Year to Date

BIRMINGHAM, Ala., May 12, 2025 (GLOBE NEWSWIRE) — Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) is pleased to announce the following operations and trading update for the quarter ended March 31, 2025.

**Consolidated operational & financial results for the quarter include only two weeks of Maverick Natural Resources (“Maverick”) contribution**

Executing Strategic Objectives

Closed transformational and accretive acquisition of Maverick Natural Resources
- Approximately doubling revenues and free cash flow
Strengthened balance sheet and increased liquidity
- Credit facility borrowing base of $900 million with $451 million of current undrawn capacity and unrestricted cash; current leverage ratio of ~2.7x
Retired $51 million of debt principal through amortizing debt payments during Q1 2025
Returned over $59 million year-to-date to shareholders through dividends and share repurchases^(a)
- Declared 1Q25 dividend of $0.29 per share
- Repurchased ~1.5 million shares year-to-date in 2025, representing ~$19 million of share buybacks^(a)
Advantageously added natural gas hedge volumes in 2026 through 2029 during recent strength in forward curve
On track to exceed $40 million in targeted land sales during the first half of 2025
Realized additional Coal Mine Methane (CMM) alternative energy credits with acquired assets from Summit Natural Resources
Next LvL Energy collaborated with the State of West Virginia regulatory agencies to modernize well retirement procedures using a method that is environmentally sound, safe, and cost-effective

Maverick Integration

Full field level integration anticipated by the end of the second quarter with technology, and administrative integration anticipated by the end of the third quarter 2025
On track to exceed the annualized synergy target of over $50 million
- High-graded staffing and reduced redundancies to capture efficiencies and cost savings
- Contract savings providing impacts in compression and chemicals

Delivering Reliable Results

March 2025 exit rate of 1,149 MMcfepd (192 Mboepd)^(b)
- Recorded average 1Q25 production of 864 MMcfepd (144 Mboepd)
Total Revenue, inclusive of settled hedges, of $295 million
Operating Cash Flow of $132 million, and Net loss of $337 million, inclusive of non-cash unsettled derivative adjustments
Achieved 1Q25 Adjusted EBITDA^(c) of $138 million and Free Cash Flow^(d) of $62 million
Realized 47% 1Q25 Adjusted EBITDA Margin^(c)
- 1Q25 Total Revenue, Inclusive of Settled Hedges per Unit^(e) of $3.78/Mcfe ($22.68/Boe)
- 1Q25 Adjusted Operating Cost per Unit^(f) of $2.00/Mcfe ($12.01/Boe)
Published the 5th annual Sustainability Report, “Winning Through Collaboration”

Rusty Hutson, Jr., CEO of Diversified, commented:

“Diversified is off to a great start in 2025, demonstrating the resilience of our business model in an otherwise volatile business environment while advancing our long-term strategy with the transformational acquisition of Maverick Natural Resources. Despite the broader macroeconomic and geopolitical challenges, we delivered solid operational results and continued growth in free cash flow.

We remain committed to effectively allocating capital. Thus far this year, Diversified has returned over $59 million to our shareholders through dividends and share repurchases, while we continue to deleverage naturally from principal paydowns of our debt. We believe our shares remain a compelling investment at current levels, and we will continue to take advantage of the current cycle and market dislocation to opportunistically repurchase shares.

At the same time, we have strategically invested in growing our business with our Maverick acquisition. We are highly focused on integration across all operations and functions of the organization, using the disciplined and methodical playbook we have historically executed to drive synergies and cost-saving initiatives that should provide margin expansion over time. We fully expect to exceed our annualized synergy target of $50 million.

Despite the current uncertain environment, the Diversified team, with our ONE DEC culture, continues to perform at a high level. Diversified has a proven track record of managing through challenging markets. I am confident that with our highly strategic initiatives, we will capitalize on opportunities and emerge from the current market as an even stronger company, ensuring continued growth and success.”

Operations and Finance Update

Production

The Company recorded exit rate production in March 2025 of 1,149 MMcfepd (192 Mboepd)^(b) and delivered 1Q25 average net daily production of 864 MMcfepd (144 Mboepd). Net daily production for the quarter continued to benefit from Diversified’s peer-leading, shallow decline profile.

The production for the quarter reflects the contribution of only two weeks of Maverick Natural Resources, which closed March 14th, 2025.

Margin and Total Cash Expenses per Unit

Diversified delivered 1Q25 per unit revenues of $3.78/Mcfe ($22.68/Boe) and Adjusted EBITDA Margin^(a) of 47% (55% unhedged). Notably, these per unit metrics reflect an increase in both revenues and expenses from the incorporation of greater liquids-related production of Maverick Natural Resources. The Company’s per unit expenses are anticipated to improve as the Company implements its playbook to achieve long-term, sustainable synergies and cost savings. For example, General and Administrative expenses remained relatively consistent with prior period levels, despite the higher per unit costs of Maverick, supporting our progress on cost savings and synergy capture.

	1Q25					1Q24
	$/Mcfe		$/Boe			$/Mcfe		$/Boe			%
Average Realized Price⁽¹⁾	$	3.78	$	22.68		$	3.25	$	19.50		16	%

	1Q25					1Q24
Adjusted Operating Cost per Unit^(f)	$/Mcfe		$/Boe			$/Mcfe		$/Boe			%
Lease Operating Expense⁽²⁾	$	0.92	$	5.49		$	0.65	$	3.91		40	%
Midstream Expense	$	0.23	$	1.40		$	0.27	$	1.61		(13	)%
Gathering and Transportation	$	0.34	$	2.06		$	0.31	$	1.85		11	%
Production Taxes	$	0.21	$	1.27		$	0.12	$	0.74		72	%
Total Operating Expense⁽²⁾	$	1.70	$	10.22		$	1.35	$	8.11		26	%
Employees, Administrative Costs and Professional Fees^(g)	$	0.30	$	1.79		$	0.33	$	1.98		(10	)%
Adjusted Operating Cost per Unit^(f)(2)	$	2.00	$	12.01		$	1.68	$	10.09		19	%
Adjusted EBITDA Margin^(a)		47			%		49			%

(1) 1Q25 excludes $0.04/Mcfe ($0.24/Boe) and 1Q24 excludes $0.05/Mcfe ($0.36/Boe) of other revenues generated by Next LVL Energy.
(2) 1Q25 excludes $0.03/Mcfe ($0.22/Boe) and 1Q24 excludes $0.07/Mcfe ($0.39/Boe) of expenses attributable to Next LVL Energy.
Values may not sum due to rounding.

Opportunistic Layering of Additional Hedges at Premium Contract Prices

Diversified has strategically taken advantage of the recent strength of the natural gas price curve to add to the Company’s 2026-2029 hedge portfolio and layering additional NYMEX volumes at an average floor price of ~$3.68/MMBtu, which is reflected in the financial derivatives positions as of April 30, 2025.

Environmental Update

Asset Retirement Progress and Next LVL Energy Update

Next LvL Energy partnered with the State of West Virginia regulatory agencies to implement advanced testing protocols and improved technology to help modernize and upgrade well retirement procedures. Through the combined efforts of real-world situation testing and oversight, the State of West Virginia has enacted new asset retirement regulations, with the resulting framework achieving an environmentally sound, safe, and cost-effective methodology.

Through the end of the first quarter, the Company has retired a combined 76 wells consisting of operated assets, state well retirements, and contracted retirement activity for third-party operators. Diversified is well-positioned to meet or exceed its retirement goal of 200 wells per year, with 57 operated wells retired as of March 31, 2025. The Company continues to drive stakeholder value via the realization of contractual partnerships to retire assets that eliminate orphaned or abandoned wells in our region and provide revenue to offset the cash costs associated with the retirement of Diversified’s wells.

Combined Company 2025 Outlook

The Company is reiterating its previously announced Full Year 2025 guidance. Following the recently completed acquisition of Maverick, Diversified expects to realize significant operational synergies associated with a larger, consolidated position in Oklahoma and the ability to improve the overall cost structure of the Maverick assets while continuing to prioritize returns and Free Cash Flow generation.

The following outlook incorporates a nine-month contribution from the recently acquired Maverick assets.

	2025 Guidance
Total Production (Mmcfe/d)	1,050 to 1,100
% Liquids	~25%
% Natural Gas	~75%
Total Capital Expenditures (millions)	$165 to $185
Adj. EBITDA⁽¹⁾(millions)	$825 to $875
Adj. Free Cash Flow⁽¹⁾(millions)	~$420
Leverage Target	2.0x to 2.5x
Combined Company Synergies (millions)	>$50

(1) Includes the value of anticipated cash proceeds for 2025 land sales.

Conference Call Details

The Company will host a conference call today, Monday, May 12, 2025, at 1:00 PM GMT (8:00 AM EDT) to discuss the 1Q25 Trading Statement and will make an audio replay of the event available shortly thereafter.

Footnotes:

(a)	Includes the total value of dividends paid and declared, and share repurchases (including Employee Benefit Trust) year-to-date, through May 12, 2025.
(b)	Exit rate includes full month of March 2025 production from Maverick.
(c)	Adjusted EBITDA represents earnings before interest, taxes, depletion, and amortization, and includes adjustments for items that are not comparable period-over-period; Adjusted EBITDA Margin represents Adjusted EBITDA as a percent of Total Revenue, Inclusive of Settled Hedges; For purposes of comparability, Adjusted EBITDA Margin excludes Other Revenue of $3 million in 1Q25 and $3 million in 1Q24, and Lease Operating Expense of $3 million in 1Q25 and $4 million in 1Q24 associated with Diversified’s wholly owned plugging subsidiary, Next LVL Energy; For more information, please refer to the Non-IFRS reconciliations as set out below.
(d)	Free Cash Flow represents net cash provided by operating activities less expenditures on natural gas and oil properties and equipment and cash paid for interest; For more information, please refer to the Non-IFRS reconciliations as set out below.
(e)	Includes the impact of derivatives settled in cash; For purposes of comparability, excludes certain amounts related to Diversified’s wholly owned plugging subsidiary, Next LVL Energy.
(f)	Adjusted Operating Cost represent total lease operating costs plus recurring administrative costs. Total lease operating costs include base lease operating expense, owned gathering and compression (midstream) expense, third-party gathering and transportation expense, and production taxes. Recurring administrative expenses (Adjusted G&A) is a Non-IFRS financial measure defined as total administrative expenses excluding non-recurring acquisition & integration costs and non-cash equity compensation; For purposes of comparability, excludes certain amounts related to Diversified’s wholly owned plugging subsidiary, Next LVL Energy.
(g)	As used herein, employees, administrative costs and professional services represent total administrative expenses excluding cost associated with acquisitions, other adjusting costs and non-cash expenses. We use employees, administrative costs and professional services because this measure excludes items that affect the comparability of results or that are not indicative of trends in the ongoing business.

For Company-specific items, refer also to the Glossary of Terms and/or Alternative Performance Measures found in the Company’s Annual Report and Form 20-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission and available on the Company’s website.

For further information, please contact:

Diversified Energy Company PLC	+1 973 856 2757
Doug Kris	dkris@dgoc.com
Senior Vice President, Investor Relations & Corporate Communications	www.div.energy

FTI Consulting	dec@fticonsulting.com
U.S. & UK Financial Public Relations

About Diversified Energy Company PLC

Forward-Looking Statements

This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations, business and outlook of the Company and its wholly owned subsidiaries (the “Group”). All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. These forward-looking statements, which contain the words “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “will”, “seek”, “continue”, “aim”, “target”, “projected”, “plan”, “goal”, “achieve”, “guidance” and words of similar meaning, reflect the Company’s beliefs and expectations and are based on numerous assumptions regarding the Company’s present and future business strategies and the environment the Company and the Group will operate in and are subject to risks and uncertainties that may cause actual results to differ materially. No representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company or the Group to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company’s or the Group’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company’s or the Group’s ability to continue to obtain financing to meet its liquidity needs, the Company’s ability to successfully integrate acquisitions, including the acquired Maverick assets, changes in the political, social and regulatory framework, including inflation and changes resulting from actual or anticipated tariffs and trade policies, in which the Company or the Group operate or in economic or technological trends or conditions. The list above is not exhaustive and there are other factors that may cause the Company’s or the Group’s actual results to differ materially from the forward-looking statements contained in this announcement, Including the risk factors described in the “Risk Factors” section in the Company’s Annual Report and Form 20-F for the year ended December 31, 2024, filed with the United States Securities and Exchange Commission.

Forward-looking statements speak only as of their date and neither the Company nor the Group nor any of its respective directors, officers, employees, agents, affiliates or advisers expressly disclaim any obligation to supplement, amend, update or revise any of the forward-looking statements made herein, except where it would be required to do so under applicable law. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements in this announcement, may not occur. As a result, you are cautioned not to place undue reliance on such forward-looking statements. Past performance of the Company cannot be relied on as a guide to future performance. No statement in this announcement is intended as a profit forecast or a profit estimate and no statement in this announcement should be interpreted to mean that the financial performance of the Company for the current or future financial years would necessarily match or exceed the historical published for the Company.

Use of Non-IFRS Measures

Certain key operating metrics that are not defined under IFRS (alternative performance measures) are included in this announcement. These non-IFRS measures are used by us to monitor the underlying business performance of the Company from period to period and to facilitate comparison with our peers. Since not all companies calculate these or other non-IFRS metrics in the same way, the manner in which we have chosen to calculate the non-IFRS metrics presented herein may not be compatible with similarly defined terms used by other companies. The non-IFRS metrics should not be considered in isolation of, or viewed as substitutes for, the financial information prepared in accordance with IFRS. Certain of the key operating metrics are based on information derived from our regularly maintained records and accounting and operating systems.

Adjusted EBITDA

As used herein, EBITDA represents earnings before interest, taxes, depletion, depreciation and amortization. Adjusted EBITDA includes adjusting for items that are not comparable period-over-period, namely, finance costs, accretion of asset retirement obligation, other (income) expense, loss on joint and working interest owners receivable, gain on bargain purchases, (gain) loss on fair value adjustments of unsettled financial instruments, (gain) loss on natural gas and oil property and equipment, costs associated with acquisitions, other adjusting costs, loss on early retirement of debt, non-cash equity compensation, (gain) loss on foreign currency hedge, net (gain) loss on interest rate swaps and items of a similar nature.

Adjusted EBITDA should not be considered in isolation or as a substitute for operating profit or loss, net income or loss, or cash flows provided by operating, investing, and financing activities. However, we believe such a measure is useful to an investor in evaluating our financial performance because it (1) is widely used by investors in the natural gas and oil industry as an indicator of underlying business performance; (2) helps investors to more meaningfully evaluate and compare the results of our operations from period to period by removing the often-volatile revenue impact of changes in the fair value of derivative instruments prior to settlement; (3) is used in the calculation of a key metric in one of the financial covenants under our revolving credit facility; and (4) is used by us as a performance measure in determining executive compensation. When evaluating this measure, we believe investors also commonly find it useful to evaluate this metric as a percentage of our total revenue, inclusive of settled hedges, producing what we refer to as our adjusted EBITDA margin.

The following table presents a reconciliation of the IFRS Financial measure of Net Income (Loss) to Adjusted EBITDA for each of the periods listed:

	Three Months Ended
Amounts in 000’s	March 31, 2025			March 31, 2024			December 31, 2024
Net income (loss)	$	(337,391	)	$	(15,145	)	$	(102,033	)
Finance costs		42,820			27,416			37,453
Accretion of asset retirement obligation		10,353			7,183			8,323
Other (income) expense		(644	)		(5	)		(295	)
Income tax (benefit) expense		66,790			5,633			(125,052	)
Depreciation, depletion and amortisation		70,807			57,015			73,960
(Gain) loss on fair value adjustments of unsettled financial instruments		235,070			13,552			202,124
(Gain) loss on natural gas and oil property and equipment⁽¹⁾		236			4			14,330
(Gain) loss on sale of equity interest		—			—			7,375
Unrealized (gain) loss on investment		—			—			6,446
Costs associated with acquisitions		2,885			1,519			4,532
Other adjusting costs⁽²⁾		5,963			3,693			7,644
Loss on early retirement of debt		39,485			—			2,469
Non-cash equity compensation		1,825			1,268			2,258
(Gain) loss on interest rate swap		(35	)		(50	)		(41	)
Total Adjustments	$	475,555		$	117,228		$	241,526
Adjusted EBITDA^(c)	$	138,164		$	102,083		$	139,493
TTM Adjusted EBITDA	$	508,390		$	497,510		$	472,309
Pro Forma TTM Adjusted EBITDA⁽³⁾	$	952,216		$	497,510		$	548,570

(1) Excludes $2 million, $2 million and $8 million in cash proceeds received for leasehold sales during the three months ended March 31, 2025, March 31, 2024 and December 31, 2024, respectively.
(2) Other adjusting costs for the three months ended December 31, 2024 were primarily associated with legal fees for certain litigation.
(3) Pro forma TTM adjusted EBITDA includes adjustments for respective periods to pro forma results for the full twelve-month impact of intra-period acquisitions (March 31, 2025: Oaktree, Crescent Pass, East Texas II, Summit and Maverick; December 31, 2024: Oaktree, Crescent Pass Energy and East Texas II).

Net Debt and Net Debt-to-Adjusted EBITDA

As used herein, net debt represents total debt as recognized on the balance sheet less cash and restricted cash. Total debt includes our borrowings under our revolving credit facility and our borrowings under or issuances of, as applicable, our subsidiaries’ securitization facilities, excluding original issuance discounts and deferred finance costs. We believe net debt is a useful indicator of our leverage and capital structure.

As used herein, net debt-to-adjusted EBITDA, or “leverage” or “leverage ratio,” is measured as net debt divided by adjusted trailing twelve-month EBITDA. We believe that this metric is a key measure of our financial liquidity and flexibility and is used in the calculation of a key metric in one of the financial covenants under our revolving credit facility.

The following table presents a reconciliation of the IFRS Financial measure of Total Non-Current Borrowings to the Non-IFRS measure of Net Debt and a calculation of Net Debt-to-Adjusted EBITDA and Net Debt-to-Pro Forma Adjusted EBITDA for each of the periods listed:

	As of
Amounts in 000’s	March 31, 2025			March 31, 2024			December 31, 2024
Total non-current borrowings, net	$	2,544,937		$	1,066,643		$	1,483,779
Current portion of long-term debt		156,253			184,463			209,463
LESS: Cash		(32,641	)		(3,456	)		(5,990	)
LESS: Restricted cash		(106,011	)		(32,828	)		(46,269	)
Net Debt	$	2,562,538		$	1,214,822		$	1,640,983
Pro forma TTM adjusted EBITDA⁽¹⁾	$	952,216		$	497,510		$	548,570
Net debt-to-pro forma TTM adjusted EBITDA	2.7x			2.4x			3.0x

(1) Pro forma TTM adjusted EBITDA includes adjustments for respective periods to pro forma results for the full twelve-month impact of intra-period acquisitions (March 31, 2025: Oaktree, Crescent Pass, East Texas II, Summit and Maverick; December 31, 2024: Oaktree, Crescent Pass Energy and East Texas II).

Free Cash Flow

As used herein, free cash flow represents net cash provided by operating activities less expenditures on natural gas and oil properties and equipment and cash paid for interest. We believe that free cash flow is a useful indicator of our ability to generate cash that is available for activities other than capital expenditures. The Directors believe that free cash flow provides investors with an important perspective on the cash available to service debt obligations, make strategic acquisitions and investments, and pay dividends.

The following table presents a reconciliation of the IFRS Financial measure of Net Cash from Operating Activities to the Non-IFRS measure of Free Cash Flow for each of the periods listed:

Amounts in 000’s Except per share amounts	Three Months Ended			Three Months Ended			Twelve Months Ended
Amounts in 000’s Except per share amounts	March 31, 2025			March 31, 2024			March 31, 2025
Net cash provided by operating activities	$	131,539		$	106,258		$	370,944
LESS: Expenditures on natural gas and oil properties and equipment		(28,031	)		(9,293	)		(70,838	)
LESS: Cash paid for interest		(41,574	)		(23,759	)		(140,956	)
Free Cash Flow^(d)	$	61,934		$	73,206		$	159,150

Total Revenue, Inclusive of Settled Hedges and Adjusted EBITDA Margin

As used herein, total revenue, inclusive of settled hedges, includes the impact of derivatives settled in cash. We believe that total revenue, inclusive of settled hedges, is a useful measure because it enables investors to discern our realized revenue after adjusting for the settlement of derivative contracts.

The following table presents a reconciliation of the IFRS Financial measure of Total Revenue to the Non-IFRS measure of Total Revenue, Inclusive of Settled Hedges and a calculation of Adjusted EBITDA Margin for each of the periods listed:

Amounts in 000’s	Three Months Ended		Three Months Ended		Year Ended
Amounts in 000’s	March 31, 2025		March 31, 2024		December 31, 2024
Total revenue	346,903		193,624		794,841
Net gain (loss) on commodity derivative instruments⁽¹⁾	(52,271	)	22,066		151,289
Total revenue, inclusive of settled hedges^(c)	294,632		215,690		946,130
Adjusted EBITDA^(c)	138,164		102,083		472,309
Adjusted EBITDA Margin^(c)	47	%	47	%	50	%
Adjusted EBITDA Margin, exclusive of Next LVL Energy⁽²⁾	47	%	49	%	51	%

(1) Net gain (loss) on commodity derivative settlements represents cash (paid) or received on commodity derivative contracts. This excludes settlements on foreign currency and interest rate derivatives as well as the gain (loss) on fair value adjustments for unsettled financial instruments for each of the periods presented.
(2) For purposes of comparability, Adjusted EBITDA Margin excludes Other Revenue of $3 million in 1Q25 and $3 million in 1Q24, and Lease Operating Expense of $3 million in 1Q25 and $4 million in 1Q24 associated with Diversified’s wholly owned plugging subsidiary, Next LVL Energy.

The MIL Network –

May 12, 2025

MIL-OSI Australia: King to serve as Federal Resources Minister and Minister for Northern Australia

Source: Australian Civil Aviation Safety Authority

I am honoured to be reappointed Federal Minister for Resources and Minister for Northern Australia as part of a re-elected Albanese Labor Government.

I am looking forward to implementing the Government’s election policies and to delivering for the people of Australia.

Strengthening our resources industry is a key priority of this Government as a part of its Future Made in Australia agenda.

The implementation of the Future Gas Strategy and the Critical Minerals Strategy is vital for the nation’s productivity agenda.

The development of our critical minerals and rare earths sector is central to Australia’s national economic, trade and security interests.

The creation of a Critical Minerals Strategic Reserve, combined with Production Tax Credits and the expansion of the Critical Minerals Facility will support Australia’s economy and boost our resilience in a time of global uncertainty.

A strong north means a strong Australia, and the Albanese Labor Government is working to make Northern Australia even stronger.

The Government’s plan for Northern Australia through work such as its continued support for the Northern Australia Infrastructure Facility will create jobs, build infrastructure and support communities.

I look forward to working with Special Envoy Luke Gosling to ensure the north grows and prospers.

I am thrilled to be given the opportunity to work with Senator Anthony Chisholm as Assistant Minister for Resources and Senator Nita Green as Assistant Minister for Northern Australia.

Our resources industry is the engine room of the economy, but it is also increasingly important for our sovereignty and our national security.

Critical minerals and rare earths are essential for our defence industry and will be needed by our security partners, particularly as part of AUKUS.

The Albanese Labor Government will work to ensure that all Australians benefit from the resources that are essential to our national interest.

MIL OSI News –

May 12, 2025
MIL-OSI Submissions: Electricity and gas to be included in the monthly selected price indexes – Stats NZ media release
Source: Statistics New Zealand

Electricity and gas to be included in the monthly selected price indexes – 12 May 2025 – Stats NZ will begin publishing indexes for electricity and gas as part of the monthly selected price indexes (SPI).

The April 2025 SPI, scheduled for release on 15 May 2025, will be the first to include the indexes, which will be part of the housing and household utilities group.

General manager and macroeconomic spokesperson Jason Attewell said this is the next step in Stats NZ’s continued commitment to improving and modernising the economic data it produces.

“The cost of electricity and gas prices are important to New Zealanders, especially as we head into winter. Adding these components to our monthly release now will provide decision makers and the public more timely information about energy costs,” Attewell said.

Files:

Electricity and gas to be included in the monthly selected price indexes
MIL OSI –
May 12, 2025
MIL-OSI New Zealand: Electricity and gas to be included in the monthly selected price indexes – Stats NZ media release

Source: Statistics New Zealand

Electricity and gas to be included in the monthly selected price indexes – 12 May 2025 – Stats NZ will begin publishing indexes for electricity and gas as part of the monthly selected price indexes (SPI).

The April 2025 SPI, scheduled for release on 15 May 2025, will be the first to include the indexes, which will be part of the housing and household utilities group.

General manager and macroeconomic spokesperson Jason Attewell said this is the next step in Stats NZ’s continued commitment to improving and modernising the economic data it produces.

“The cost of electricity and gas prices are important to New Zealanders, especially as we head into winter. Adding these components to our monthly release now will provide decision makers and the public more timely information about energy costs,” Attewell said.

Files:

MIL OSI New Zealand News –

May 12, 2025
Democratic-led states sue to block Trump’s halting of wind projects

Source: Government of India (4)

A coalition of Democratic state attorneys general sued on Monday in a bid to block President Donald Trump’s move to suspend leasing and permitting of new wind projects, saying it threatens to cripple the wind industry and a key source of clean energy.

Seventeen states and the District of Columbia in a lawsuit filed in federal court in Boston argued that the decision by the Republican president’s administration to indefinitely pause all federal wind-energy approvals is unlawful and must be blocked.

The lawsuit, led by New York state, accused Trump of exceeding his authority and said his administration violated federal administrative law by not offering any detailed justification for the suspension.

“This administration is devastating one of our nation’s fastest-growing sources of clean, reliable and affordable energy,” New York Attorney General Letitia James, a Democrat, said in a statement.

The lawsuit seeks a court order declaring the indefinite pause unlawful and barring the agencies including the U.S. Departments of Commerce and Interior and the Environmental Protection Agency from implementing Trump’s directive.

White House spokesperson Taylor Rogers accused the Democratic attorneys general of “using lawfare to stop the president’s popular energy agenda.”

“The American people voted for the president to restore America’s energy dominance, and Americans in blue states should not have to pay the price of the Democrats’ radical climate agenda,” Rogers said in a statement.

Trump announced the pause on his first day back in office on January 20 when he directed his administration in a presidential memorandum to halt offshore wind lease sales and stop the issuance of permits, leases and loans for both onshore and offshore wind projects.

He did so while also moving to ramp up the federal government’s support for the fossil fuel industry and maximize output in the United States, the world’s top oil and gas producer, after campaigning for the presidency on the refrain of “drill, baby, drill.”

Trump as a candidate last year promised to end the offshore wind industry, arguing it is too expensive and hurts whales and birds. In announcing the pause, Trump again cited the expense of wind projects and said they “ruin your beautiful landscapes.”

After Trump’s memorandum, U.S. Interior Secretary Doug Burgum in April directed the Bureau of Ocean Energy Management’s acting director to order a unit of Norwegian energy firm EquinorEQNR.OL to halt construction on its Empire Wind offshore wind project off New York.

The states in their lawsuit argue that Trump’s directive harmed their efforts to secure reliable, diversified sources of energy and jeopardized billions of dollars they have already invested in the industry as part of their efforts to reduce greenhouse gas emissions to combat climate change.

In their lawsuit, the states said the agencies implementing Trump’s order never said why they were abruptly changing longstanding policy supporting wind energy development and were departing from government findings that wind projects can proceed with minimal adverse effects on the environment.

The lawsuit also said Congress never authorized the president to categorically halt wind-energy projects and that the agencies implementing the pause exceeded their authority under numerous laws including the Clean Air Act, the Endangered Species Act and the Outer Continental Shelf Lands Act.

(Reuters)

May 12, 2025
Indian stocks extend rally; Sensex gains nearly 300 points

Source: Government of India

Source: Government of India (4)

Indian stock indices continued their upward momentum from the previous week, opening the new trading week on a positive note.

The Sensex closed at 80,796.84, rising 294.85 points or 0.37 per cent, while the Nifty ended the day at 24,461.15, up 114.45 points or 0.47 per cent. Most sectoral indices were in the green, with Nifty Auto and Oil & Gas leading the gains on Monday.

As the week progresses, market participants are expected to closely track the flow of foreign portfolio investments (FPIs)—which have recently turned net positive—along with developments surrounding the India-US trade deal and Q4 earnings reports from major listed companies for further cues.

On the global front, investors are also awaiting the outcome of the US Federal Reserve’s monetary policy meeting, which could influence market sentiment.

Last week, the Sensex and Nifty posted their longest weekly winning streak of 2025. The Sensex surged over 1,100 points—or about 1.5 per cent—during the holiday-truncated week, with markets closed on May 1 for Maharashtra Day.

Adding to the positive sentiment, FPIs turned net buyers after three months, although the pace of inflows is still building.

“The market has sustained its positive momentum, though optimism has moderated. Continued foreign inflows and record GST collections in April reflect resilience in economic activity and support mild optimism,” said Vinod Nair, Head of Research at Geojit Financial Services.

“A weak dollar and falling oil prices have further boosted FII sentiment. However, the momentum is shifting from broad-based rallies to stock- and sector-specific moves driven by earnings. Over the past month, the broader market has recovered over 50 per cent of the losses incurred during the consolidation phase from September 2024 to March 2025,” he added.

Sundar Kewat, Technical and Derivatives Analyst at Ashika Institutional Equity, noted that gains were limited as investor sentiment turned cautious amid escalating geopolitical tensions between India and Pakistan. This led to a more defensive market stance despite support from select sectors.

Markets had also found support after former U.S. President Donald Trump announced a 90-day pause on reciprocal tariffs on several countries, including India. The initial announcement of the tariffs had triggered a global equity sell-off, with India also being affected.

Geopolitical tensions, particularly the India-Pakistan standoff following the terrorist attack in Pahalgam on April 22, have weighed on investor sentiment recently. Market participants are expected to closely monitor further developments in this regard.

-ANI

May 12, 2025
Restaurant fire kills 22 in northeast China’s Liaoning

Source: Government of India (4)

The fire broke out at 12:25 p.m. (0425 GMT) in a restaurant in a residential area of Liaoning Province’s Liaoyang City, state broadcaster CCTV said. Three people were injured.

Footage circulating on social media including X and Chinese platform Douyin, unverified by Reuters, showed bright orange flames engulfing a storefront on street level alongside scores of parked vehicles. Smoke was seen billowing out as paramedics tended to people on stretchers.

Hao Peng, secretary of Liaoning’s provincial ruling party committee, said 22 fire trucks and 85 firefighters were deployed to the scene. Hao said the on-site rescue work had been completed and people had been evacuated.

It was the latest in a spate of similar incidents across the country in recent years. In April, 20 people were killed in a fire that broke out in an apartment for the elderly at a nursing home in the northern province of Hebei.

Gas leaks caused at least two high-profile explosions in residential areas last year, with a blast at a restaurant in Hebei province killing two people and injuring 26 in March, and an explosion in a highrise building in southern Shenzhen province in September killing one person.

(Reuters)

May 12, 2025
MIL-OSI China: Fuel depots fire under control, power gradually restored after Port Sudan drone attacks

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

Smoke rises after a drone attack in Port Sudan, eastern Sudan, on May 6, 2025. [Sudanese Ministry of Culture and Information/Handout via Xinhua]

The fire at fuel depots in Port Sudan has been brought under control and electricity has been gradually restored in the eastern Red Sea State following drone attacks in early May, Sudan’s Civil Defense Forces and state-run Electricity Company said Sunday in separate statements.

“The fire at the strategic storage facilities and other affected sites in Port Sudan has been completely extinguished,” Director of Sudan’s Civil Defense Forces Osman Al-Atta said in a statement, adding that firefighting was challenging due to large volumes of oil stored at the affected sites.

“The return of electricity supply to cities in Red Sea State is underway gradually,” the Electricity Company said in a brief statement posted on its official Facebook page.

Sudan has been embroiled in a devastating conflict between the Sudanese Armed Forces (SAF) and the paramilitary Rapid Support Forces (RSF) since mid-April 2023, which has claimed tens of thousands of lives, with the exact toll unknown.

Recently, the RSF has intensified drone attacks on military sites and vital facilities within SAF-controlled areas.

On May 4, the RSF reportedly launched drone attacks on Port Sudan, capital of Red Sea State, for the first time, targeting a military airbase and civilian facilities. On Monday, drones attacked fuel depots in the city, completely destroying them, triggering huge explosions, and causing fires that burned for days.

On Tuesday, Sudan’s Electricity Company announced that the Port Sudan power transformer station was targeted by drones in the morning, leading to a complete power outage.

MIL OSI China News –

May 12, 2025

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