Category: Energy

  • MIL-OSI USA: Senators Markey, Klobuchar Reintroduce Resolution to Give Individuals a Fair Chance After Incarceration

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Resolution Text (PDF)
    Washington (May 1, 2025) – Yesterday, Senator Edward J. Markey (D-Mass.) and Senator Amy Klobuchar (D-Minn.) reintroduced a resolution to recognize the month of April as “Fair Chance Jobs Month,” to ensure that formerly incarcerated individuals have a fair chance at securing good-paying, stable employment. The Fair Chance Jobs Month Resolution acknowledges the importance of removing barriers to employment for those affected by the criminal legal system.
    Nearly 80 million Americans, or one in three adults, have a record of arrest or conviction. In the United States, nearly 14,000 laws and regulations restrict formerly incarcerated people from securing professional licenses required for a wide range of jobs. Individuals who reenter society continue to face systemic biases and stigmas that restrict access to employment. Even when formerly incarcerated individuals get hired, they earn lower wages on average than the general population.
    “Individuals who served their sentences deserve a fair chance at rebuilding their lives when they reenter society. Formerly incarcerated individuals face significant obstacles, including systemic biases and licensing barriers, to securing a good-paying job,” said Senator Markey. “I am proud to reintroduce this resolution alongside Senator Klobuchar to help ensure those impacted by the criminal legal system get a fair shot at reentering the workforce and supporting a better life for themselves and for their families.”
    “As a former prosecutor, I have seen firsthand the employment challenges people can face when they are released after serving their sentence,” said Senator Klobuchar. “This resolution to recognize Fair Chance Jobs Month will raise awareness of the barriers formerly incarcerated people face in the job market and promote opportunities for those who are looking to reenter the workforce.”
    Cosponsors of the resolution in the Senate include Senators Cory Booker (D-N.J.), Dick Durbin (D-Ill.), Tammy Duckworth (D-Ill.), Alex Padilla (D-Calif.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Tina Smith (D-Minn.), and Andy Kim (D-N.J.).
    The Fair Chance Jobs Month resolution is endorsed by JustLeadershipUSA.
    “This resolution recognizes the immense harm caused by the criminal legal system—especially its economic impact on directly affected individuals—and highlights ongoing barriers to basic needs that continue to affect families and communities. To enhance public safety and stabilize the economy, we must dismantle ineffective policies and expand access to training and enhanced support,” said Ronald Simpson-Bey, Executive Vice President of Strategic Partnerships at JustLeadershipUSA.
    Senators Markey and Klobuchar first introduced the resolution in April 2024. In February 2024, Senator Markey sent a letter to Secretary of Energy Jennifer Granholm urging the Department of Energy (DOE) to make good-paying clean energy jobs accessible to currently and formerly incarcerated people. In December of 2023, Senator Markey also led colleagues in introducing the End Solitary Confinement Act, legislation that would end solitary confinement in federal prisons, jails, and detention centers, with limited exceptions.

    MIL OSI USA News

  • MIL-OSI: Equinor sells the Peregrino field for USD 3.5 billion

    Source: GlobeNewswire (MIL-OSI)

    Equinor Brasil Energia Ltda., a subsidiary of Equinor (OSE: EQNR, NYSE: EQNR), has entered into agreements(1) with Brazilian company Prio Tigris Ltda., a subsidiary of PRIO SA (PRIO3.SA) for a sale of its 60% operated interest in the Peregrino field in Brazil.

    PRIO, Brazil’s largest independent oil and gas company, will pay a consideration of USD 3.35 billion and a maximum of USD 150 million in interest to Equinor for the transaction. The final cash payment will reflect the closing date and any deductions generated by the asset since the effective date, which is 1 January 2024.

    Equinor will be responsible for operations of the field until closing of the transaction, after which PRIO will take over operatorship.

    “With this transaction we realise value from a long-standing asset in our Brazil portfolio. Brazil will continue to be a core country for Equinor, as we focus on starting up the Bacalhau field and continue progressing the Raia gas project. With these two operated projects and our partnership in Roncador our equity production in Brazil will be close to 200,000 barrels per day by 2030,” says Philippe Mathieu, Executive Vice President for Exploration and Production International at Equinor.

    “This deal is part of Equinor’s ongoing effort to high-grade its international portfolio through asset divestments and acquisitions. We continue to see growth potential and opportunities to extend the longevity of our international oil and gas portfolio, also in Brazil,” says Philippe Mathieu.

    Equinor has been operating the Peregrino field since 2009 and around 300 million barrels of oil have been produced by the asset since. Peregrino is a heavy oil field and consists of a floating production storage and offloading (FPSO) platform, supported by three fixed platforms. The field is in the Campos Basin, east of Rio de Janeiro. In Q1 2025, Equinor´s share of production from Peregrino was around 55,000 barrels per day.

    Last year, PRIO acquired Sinochem’s 40% interest in the Peregrino field.

    “PRIO has been a valued partner since joining the Peregrino license last year and we look forward to a smooth hand-over with them,” says Veronica Coelho, Senior Vice President and Country Manager for Equinor Brazil.

    “We are very proud of the work that has been done by our team over the past 20 years on the Peregrino field. This asset has been the cornerstone of Equinor’s history in Brazil. Our journey in Brazil continues with full momentum, building on the legacy of those that have worked on Peregrino. We are preparing for operations on Bacalhau, as well as the startup of the Serra da Babilonia renewable hybrid project by our subsidiary Rio Energy and we are progressing the Raia gas project” says Veronica Coelho.

    The transaction is subject to regulatory and legal approvals. The payment will occur in two tranches, one at signing and a further one closer to closing. The payment will be subject to customary adjustments.

    1: The deal is divided in two parts, one for the acquisition of 40% and operatorship of Peregrino, the second for the acquisition of the remaining 20%. The 40% operation will receive a payment of USD 2,233 million, with an additional payment of USD 166 million which is contingent on the completion of the second part of 20%. The 20% operation will have a value of USD 951 million. The final component is USD 150 million of maximum interest, reaching the total of USD 3.5 billion.

    Contact details:

    Investor relations
    Bård Glad Pedersen, Senior Vice President Investor Relations
    +47 918 01 791

    Media
    Ola Morten Aanestad, Media Relations
    +47 480 80 212

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

    The MIL Network

  • MIL-OSI New Zealand: Energy Sector – Equinor sells the Peregrino field for USD 3.5 billion

    Source: Equinor

    02 MAY 2025 – Equinor Brasil Energia Ltda., a subsidiary of Equinor ASA, has entered into agreements(1) with Brazilian company Prio Tigris Ltda., a subsidiary of PRIO SA (PRIO3.SA) for a sale of its 60% operated interest in the Peregrino field in Brazil.

    PRIO, Brazil’s largest independent oil and gas company, will pay a consideration of USD 3.35 billion and a maximum of USD 150 million in interest to Equinor for the transaction. The final cash payment will reflect the closing date and any deductions generated by the asset since the effective date, which is 1 January 2024.

    Equinor will be responsible for operations of the field until closing of the transaction, after which PRIO will take over operatorship.

    “With this transaction we realise value from a long-standing asset in our Brazil portfolio. Brazil will continue to be a core country for Equinor, as we focus on starting up the Bacalhau field and continue progressing the Raia gas project. With these two operated projects and our partnership in Roncador our equity production in Brazil will be close to 200,000 barrels per day by 2030,” says Philippe Mathieu, Executive Vice President for Exploration and Production International at Equinor.

    “This deal is part of Equinor’s ongoing effort to high-grade its international portfolio through asset divestments and acquisitions. We continue to see growth potential and opportunities to extend the longevity of our international oil and gas portfolio, also in Brazil,” says Philippe Mathieu.

    Equinor has been operating the Peregrino field since 2009 and around 300 million barrels of oil have been produced by the asset since. Peregrino is a heavy oil field and consists of a floating production storage and offloading (FPSO) platform, supported by three fixed platforms. The field is in the Campos Basin, east of Rio de Janeiro. In Q1 2025, Equinor´s share of production from Peregrino was around 55,000 barrels per day.

    Last year, PRIO acquired Sinochem’s 40% interest in the Peregrino field.

    “PRIO has been a valued partner since joining the Peregrino license last year and we look forward to a smooth hand-over with them,” says Veronica Coelho, Senior Vice President and Country Manager for Equinor Brazil.

    “We are very proud of the work that has been done by our team over the past 20 years on the Peregrino field. This asset has been the cornerstone of Equinor’s history in Brazil. Our journey in Brazil continues with full momentum, building on the legacy of those that have worked on Peregrino. We are preparing for operations on Bacalhau, as well as the startup of the Serra da Babilonia renewable hybrid project by our subsidiary Rio Energy and we are progressing the Raia gas project” says Veronica Coelho.

    The transaction is subject to regulatory and legal approvals. The payment will occur in two tranches, one at signing and a further one closer to closing. The payment will be subject to customary adjustments.

    1: The deal is divided in two parts, one for the acquisition of 40% and operatorship of Peregrino, the second for the acquisition of the remaining 20%. The 40% operation will receive a payment of USD 2,233 million, with an additional payment of USD 166 million which is contingent on the completion of the second part of 20%. The 20% operation will have a value of USD 951 million. The final component is USD 150 million of maximum interest, reaching the total of USD 3.5 billion.

    MIL OSI New Zealand News

  • MIL-OSI USA: Reed Announces Additional $2.6 Million to Help RI Families Save on Home Energy Bills

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    WASHINGTON, DC – In an effort to help more Rhode Islanders reduce their home energy costs, U.S. Senator Jack Reed today announced that Rhode Island is getting an additional $2.6 million through the Low Income Home Energy Assistance Program (LIHEAP), after the Trump Administration finally released the remaining $400 million in LIHEAP aid this week to states nationwide.
    Reed, a member of the Appropriations Committee, helped provide a nationwide total of $4.1 billion for LIHEAP in FY 2025.
    LIHEAP is a federally funded program that helps low-income households with their home energy bills by providing payment and energy crisis assistance to pay for gas, electric, and other methods customers use to heat their homes. 
    This latest allocation brings Rhode Island’s FY 2025 appropriation for LIHEAP up to $26.6 million so far this year.
    Last October, the Biden Administration released ninety percent of LIHEAP funds to states to give states time to properly plan and deploy these funds through the end of the fiscal year, which runs through September of 2025.  This included an allocation of $534,784 in LIHEAP funds that Senator Reed helped include through the Infrastructure Investment and Jobs Act (IIJA).
    “This latest infusion of federal LIHEAP funding will provide overdue support to families in need and help them cope with high energy costs.  In addition to easing the strain on household budgets, the release of LIHEAP funds also helps local small businesses that supply home heating fuel to customers with fixed or limited incomes,” said Senator Reed.
    LIHEAP is administered by states and accessed through local Community Action Agencies.  Eligibility for LIHEAP is based on income, family size, and the availability of resources.
    Nationwide, an estimated 6 million households received assistance with heating and cooling costs through LIHEAP over the last year, including over 28,200 Rhode Island households.
    The average LIHEAP benefit covering about $500 in winter home heating costs for Rhode Islanders.
    Rhode Islanders wishing to apply for LIHEAP may click here to reach the Rhode Island Department of Human Services website to get more information and links to an online application. 
    Senator Reed noted that while the release of these federal funds to states is good news, he remains deeply concerned about the Trump Administration decimating the LIHEAP staff at the U.S. Department of Health and Human Services (HHS) and the impact that could have on the federal government’s ability to effectively manage the program and assist states with LIHEAP going forward.  Reed says he has no doubt that President Trump will once again try to eliminate LIHEAP altogether but vowed to work on a bipartisan basis to include LIHEAP funding in future Appropriations laws, just as he successfully did during the first Trump Administration.

    MIL OSI USA News

  • MIL-OSI USA: Weber Washington Times Op-Ed: The world runs on Southeast Texas energy

    Source: United States House of Representatives – Congressman Randy Weber (14th District of Texas)

    Washington, D.C. – In a new op-ed in the Washington Times, U.S. Rep. Randy Weber (TX-14), the Chairman of the Energy Subcommittee on the Science, Space, and Technology Committee and Vice-Chair of the Energy Subcommittee on the Energy and Commerce Committee, details the urgent need to restore American energy leadership by investing in the Gulf Coast — particularly Southeast Texas.

    Below, please find an excerpt from the op-ed.

    The world runs on Southeast Texas energy

    Washington Times

    By: Representative Randy Weber

    April 28, 2025

    “When America needs energy, it turns to Texas and more specifically, to Southeast Texas. We don’t just refine oil or export gas. We fuel economies, empower allies, and protect national security. In short: we are the energy capital of the world…

    “Our energy sector supports millions of well-paying jobs across America and tens of thousands of those are in Southeast Texas. These are jobs that don’t require four-year degrees, but do demand skill, grit, and the kind of work ethic that built this county. Welders, pipefitters, engineers, rig hands, terminal operators, truck drivers, safety techs this is the American workforce at its best…

    “We have four years to do a lot of important work that has been neglected for years. If we want to continue our energy dominance, we must double down on Southeast Texas…

    “That means investing in critical infrastructure pipelines, ports, and power grids to move our products faster and safer. It means cutting the red tape that delays permits and discourages innovation. It means unleashing the full potential of LNG, hydrogen, and carbon capture, and empowering the hardworking men and women who keep our energy economy running.”

    MIL OSI USA News

  • MIL-OSI USA: House Science, Space and Technology Advances Weber’s Next Generation Pipeline Research and Development Act

    Source: United States House of Representatives – Congressman Randy Weber (14th District of Texas)

    Washington, D.C. – The Science, Space and Technology Committee advanced the Next Generation Pipeline Research and Development Act, led by U.S. Reps. Randy Weber (TX-14) and Deborah Ross (NC-2), to strengthens public-private partnerships, increases federal research, development, and demonstration related to the evolution of next-generation pipeline systems, and modernizes existing infrastructure.

    Weber and Ross introduced the legislation on April 3, 2025. Weber also previous introduced the bill in the 118th Congress, where it passed the U.S. House by a vote of 373-41 on September 24, 2024. 

    “I’m proud that the Science, Space, and Technology Committee advanced this commonsense, bipartisan bill to strengthen the backbone of America’s energy infrastructure,” said Rep. Weber. “As we continue unlocking our God-given energy resources, it’s critical that we also invest in the research and development needed to modernize over a million miles of pipeline that keep the lights on, fuel our vehicles, and power American manufacturing. This bill has earned broad, bipartisan support—both now and in the last Congress—and I strongly urge my colleagues to back it when it comes to the House floor.”

    Highlights of the Next Generation Pipeline Research and Development Act:

    1. Authorizing the Secretary of Energy, in coordination with the Secretary of Transportation, the Director of the National Institute of Standards and Technology (NIST), the Secretary of Interior, and others, to establish a demonstration initiative and joint research and development program for low-to mid-technology readiness level research projects to achieve deployment.
    2. Creating a National Pipeline Modernization Center at the Department of Energy, which will foster collaboration with industry and stakeholders to commercialize cost-effective products and procedures.
    3. Conducting a program at NIST of measurement research, development, demonstration, and standardization to ensure the integrity of pipeline facilities and ensure their safety, security, efficiency, sustainability, and resilience.

    MIL OSI USA News

  • MIL-OSI: Gran Tierra Energy Inc. Reports First Quarter 2025 Results, Record Production and Continued Exploration Success

    Source: GlobeNewswire (MIL-OSI)

    • Achieved Record Total Company Average Quarterly Production of 46,647 boepd
    • Ecuador Exploration Success Continues with Additional Oil Discoveries in Iguana Block
    • Solid Balance Sheet, Exited the Quarter with $77 Million in Cash Following Active Capital Campaign, Paid Down $27 Million of Debt
    • Additional Liquidity Secured with Signing of New $75 Million Credit Facility

    CALGARY, Alberta, May 01, 2025 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) announced the Company’s financial and operating results for the quarter ended March 31, 2025 (“the Quarter”) and provided an operational update. All dollar amounts are in United States (“U.S.”) dollars and all reserves and production volumes are on an average working interest before royalties (“WI”) basis unless otherwise indicated. Production is expressed in barrels (“bbl”) of oil equivalent (“boe”) per day (“boepd” or “boe/d”) and are based on WI sales before royalties. For per boe amounts based on net after royalty (“NAR”) production, see Gran Tierra’s Quarterly Report on Form 10-Q filed May 1, 2025.

    Message to Shareholders

    Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: “Our first quarter performance reflects strong operational execution and disciplined financial management. Our front-loaded 2025 capital program, which had up to five rigs active during the quarter, delivered record drilling times and cost efficiencies across our key assets. We continue to generate returns through our share buyback program and ongoing debt reduction. Lowering leverage remains a key priority as we focus on projects which deliver quick cycle returns and maintain flexibility to invest in high-return opportunities across our portfolio. Our focused exploration efforts also continue to deliver successful results, reinforcing the quality of our assets and long-term strategy to create value. With current production of approximately 48,400(2) boe/d and a strong hedge position for the remainder of the year we are well positioned to generate value while remaining resilient amid commodity price volatility.”

    Operational Update:

    • Ecuador
      • Gran Tierra has successfully drilled two additional oil discoveries in Ecuador, the Iguana B1 and Iguana B2 wells on the Iguana Block. The combined wells have an average oil production rate over 30 days of ~1,684 bopd from the U-Sand formation (with a less than 1% watercut), an average API of 28° and 520 standard cubic foot per stock tank barrel of gas-to-oil ratio. The Iguana B1 well was drilled and completed in record time and under budget, establishing a new pace-setting well in Gran Tierra’s Ecuador exploration campaign.
      • The drilling rig has been stacked on the Iguana pad, pending mobilization to the new Conejo pad on the Charapa Block, to resume exploration drilling during the third quarter of 2025.
    • Colombia
      • Gran Tierra successfully drilled the first three of five wells from the Cohembi North Pad during the Quarter. All wells were under budget and drilled 60% faster than the previous operator. These wells represent the Company’s first drilling operations as operator, with the remaining two wells expected to be drilled during the second quarter of 2025. Upon completion of the program, the rig will move to the Costayaco Pad to commence a three well development program during the second quarter of 2025.
      • By the end of the Quarter, the civil, electrical and mechanical field works at Cohembi reached 100% mechanical completion. This project was initiated to facilitate the processing of new production from the Cohembi North Pad at the Cohembi Central Processing Facility.
      • Optimization of the Acordionero field is ongoing through waterflood expansion, which includes facility enhancements, electrical submersible pump upsizing, injector conversions and upgrades to gas-to-power generation. These initiatives are focused on reducing unit costs, offsetting natural declines and improving overall recovery factors. The field continues to perform strongly, with average production of 13,824 boepd in the Quarter. This represents a two percent increase from the fourth quarter of 2024, despite no wells being drilled since the first quarter of 2024. Current production (April 1 – 30, 2025) is approximately 14,500 boepd, a 5% increase from the first quarter of 2025 average, reflecting the strong reservoir response to the execution of our first quarter waterflood management optimization program. The Company continues to see significant development potential at Acordionero and is planning another drilling program of eight to ten wells in 2026 targeting high oil saturation, unswept infill locations.
    • Canada
      • Gran Tierra and its joint venture partner, Logan Energy Corp., successfully drilled and completed two Lower Montney wells at Simonette. These two wells were brought on stream from the 16-13-61-1W6 (“16-13”) pad and completed with a similar optimized Lower Montney completion design as the 13-13-61-1W6 offset well drilled in 2022. After 21 days since being placed on production, the average gross production per well was 674 bbl/d oil, 13 bbl/d NGLs and 767 Mcf/d of gas (814 boe/d at 84% liquids), Gran Tierra has a 50% Working Interest and the wells continue to clean-up. This early production performance surpasses the prior offset well by 80% for the same time period and are exceeding their budgeted type curves. After 21 days since being placed on production, the average gross production per well was 674 bbl/d oil, 13 bbl/d NGLs and 767 Mcf/d of gas (814 boe/d at 84% liquids). Gran Tierra has a 50% Working Interest and the wells continue to clean-up. This early production performance surpasses the prior offset well by 80% for the same time period and are exceeding their budgeted type curves.
      • Gran Tierra successfully acquired 21 sections of prospective land in Central Alberta along the Nisku fairway in March 2025, which adds over 50 potential drilling opportunities to its drilling inventory.
      • At Clearwater, Gran Tierra participated in the successful drilling of two gross (0.5 net) wells during the Quarter, and both wells are estimated to be on stream imminently. The first well drilled was a 4-legged injector to support a water flood pilot in the Marten Hills block, potentially increasing reserves based off nearby analogue waterflood results. The second well (non-op), with 14 legs, was drilled in the Seal block to test the productivity of heavy oil in the Bluesky formation.

    Key Highlights of the Quarter:

    • Production: Gran Tierra’s total average WI production was 46,647 boepd, which was 14% higher than fourth quarter 2024 (“the Prior Quarter”) and 45% higher than the first quarter of 2024. Higher production during the Quarter was due to the Company recognizing three full months of production from Canada and positive exploration well results in Ecuador.
    • Net Income: Gran Tierra incurred a net loss of $19 million, compared to a net loss of $34 million in the Prior Quarter and a net loss of nil in the first quarter of 2024.
    • Adjusted EBITDA(1): Adjusted EBITDA(1) was $85 million compared to $76 million in the Prior Quarter and $95 million in the first quarter of 2024. Twelve-month trailing Net Debt(1) to Adjusted EBITDA(1) was 1.9 times (only accounts for five months of Canadian operations Adjusted EBITDA) and the Company continues to have a long-term target ratio of 1.0 times.
    • Net Cash Provided by Operating Activities: Net Cash Provided by Operating Activities was $73 million ($2.05 per share), up 175% from the Prior Quarter and up 20% from the first quarter of 2024.
    • Funds Flow from Operations(1): Funds flow from operations(1) was $55 million ($1.55 per share), up 25% from the Prior Quarter and down 26% from the first quarter of 2024 as a result of lower oil prices.
    • Cash and Debt: As of March 31, 2025, the Company had a cash balance of $77 million, total debt of $760 million and net debt(1) of $683 million. During the Quarter, the Company repaid at maturity the remaining principal of its 6.25% Senior Notes due in 2025 in an amount of $25 million and repurchased $2 million of its 9.5% Senior Notes due in 2029.
    • Liquidity: In addition to the $77 million cash on hand as of March 31, 2025, the Company currently has approximately $110 million in undrawn credit and lending facilities. The Company has a revolving credit facility agreement in Canada with a borrowing base of C$100.0 million with available commitment of C$50.0 million and is available until October 31, 2025 with a repayment date of October 31, 2026, which may be extended by further periods of up to 364 days, subject to lender approval. On April 16, 2025, the Company announced an additional $75 million reserve-based lending facility in Colombia with a final maturity date in 36 months from the closing date.
    • Share Buybacks: Gran Tierra repurchased 453,050 shares of common stock during the Quarter. From January 1, 2023, to April 29, 2025, the Company repurchased approximately 5.2 million shares, or 15% of shares issued and outstanding on January 1, 2023.

    Additional Key Financial Metrics:

    • Capital Expenditures: Capital expenditures of $95 million were higher than the $79 million in the Prior Quarter and higher than $55 million in the first quarter of 2024 as a result of the addition of the Canadian development program, an active Ecuador exploration program and development activities in the Cohembi field in Colombia during the Quarter. During the Quarter, the Company had three rigs active in Canada, one in Ecuador and one in Colombia. Currently, the Company has one rig active in Colombia.
    • Oil Sales: Gran Tierra generated oil sales of $171 million, up 8% from the first quarter of 2024 as a result of 45% higher sales volumes due to higher production and the tightening of the Castilla, Vasconia and Oriente oil differentials which offset lower Brent pricing. Oil sales increased 16% from the Prior Quarter primarily due to 17% higher sales volumes, a 1% increase in Brent price and lower Castilla, Oriente, and Vasconia oil differentials.
    • South American Quality and Transportation Discounts: The Company’s quality and transportation discounts in South America per bbl were lower during the Quarter at $11.58, compared to $13.94 in the Prior Quarter and $15.36 in the first quarter of 2024. The Castilla oil differential per bbl tightened to $5.34, down from $8.33 in the Prior Quarter and $8.82 in the first quarter of 2024 (Castilla is the benchmark for the Company’s Middle Magdalena Valley Basin oil production). The Vasconia differential per bbl tightened to $2.27, down from $5.02 in the Prior Quarter, and $5.05 in the first quarter of 2024. The Ecuadorian benchmark, Oriente, per bbl was $7.65, down from $9.40 in the Prior Quarter and $8.02 one year ago. The current(2) differentials are approximately $4.94 per bbl for Castilla, $1.87 per bbl for Vasconia, and $7.26 per bbl for Oriente.
    • Operating Expenses: On a per boe basis, operating expenses decreased by 3% when compared to the first quarter of 2024 and the Prior Quarter. Operating expenses increased by 11% to $67 million, compared to the Prior Quarter and increased by 39% from $48 million compared to the first quarter of 2024, primarily due to new Canadian operations and increases in production volumes in Ecuador. The increase in total operating costs is commensurate with the 45% increase in production.
    • Transportation Expenses: The Company’s transportation expenses increased by 62% to $7 million, compared to the Prior Quarter’s transportation expenses of $4 million, and increased by 51% compared to the first quarter of 2024. Transportation expenses were higher due to new Canadian operations and higher sales volumes transported in Ecuador during the Quarter.
    • Operating Netback(1)(3): The Company’s operating netback(1)(3) was $22.70 per boe, up 2% from the Prior Quarter and down 36% from the first quarter of 2024 because of of the addition of the Canadian assets and approximately 50 of Canadian production tied to AECO gas pricing.
    • General and Administrative (“G&A”) Expenses: G&A expenses before stock-based compensation were $2.86 per boe, up from $2.75 per boe in the Prior Quarter due to increased audit fees relating to the acquisition of the Canadian assets, a full quarter of Canadian salaries and increased IT expenses. G&A expenses before stock-based compensation were down from $3.65 per boe, compared to the first quarter of 2024 as a result of higher sales volumes in the Quarter.
    • Cash Netback(1): Cash netback(1) per boe increased to $13.04, compared to $11.90 in the Prior Quarter primarily as a result of transaction costs of $1.20 per boe incurred in the Prior Quarter as a result of the acquisition of the Canadian operations. Compared to one year ago, cash netback(1) per boe decreased by $12.09 from $25.13 per boe as a result of lower operating netback primarily due to lower realized price.

    Gran Tierra Reconfirms Previously Disclosed 2025 Consolidated Guidance and Provides Country Breakdown:

    2025 Budget Low Case Base Case High Case
    Brent Oil Price ($/bbl) 65.00 75.00 85.00
    WTI Oil Price ($/bbl) 61.00 71.00 81.00
    AECO Natural Gas Price ($CAD/thousand cubic feet) 2.00 2.50 3.50
    Production (boepd) 47,000-53,000 47,000-53,000 47,000-53,000
    Operating Netback1,3($ million) 330-370 430-470 510-550
    EBITDA1($ million) 300-340 380-420 460-500
    Cash Flow1($ million) 200-240 260-300 300-340
    Capital Expenditures ($ million) 200-240 240-280 240-280
    Free Cash Flow1($ million) 20 60
    Number of Development Wells (gross) 8-12 10-14 10-14
    Number of Exploration Wells (gross) 6 6-8 6-8
    Budgeted Costs Costs per boe ($/boe)
    Lifting 12.00-14.00
    Workovers 1.50-2.50
    Transportation 1.00-2.00
    General and Administration 2.00-3.00
    Interest 4.00-4.50
    Current Tax 2.00-3.00
    2025 Budget by Country – Base Case Canada Colombia Ecuador
    Production (kboepd) 18 – 19* 25 – 27 4 – 7
           
    Per Barrel ($/boe)      
    Realized Price 22 – 24 51 – 53 43 – 45
    Operating and Transportation Expense 10 – 12 19 – 21 12 – 14
    Operating Netback 10 – 14 30 – 34 29 – 33

    *Canada’s production is comprised of approximately 50% natural gas, 21% oil and 29% natural gas liquids (“NGL”)

    Financial and Operational Highlights (all amounts in $000s, except per share and boe amounts)

    Consolidated Financial Data Three Months Ended March 31,   Three Months
    Ended
    December 31,
      2025 2024   2024
             
    Net Income (Loss) $(19,280) $(78)   $(34,210)
    Per Share – Basic and Diluted $(0.54) $—   $(1.00)
             
    Oil, Natural Gas and NGL Sales $170,533 $157,577   $147,290
    Operating Expenses (67,354) (48,466)   (60,770)
    Transportation Expenses (6,911) (4,584)   (4,279)
    Operating Netback(1)(3) $96,268 $104,527   $82,241
             
    G&A Expenses Before Stock-Based Compensation $12,143 $10,782   $10,191
    G&A Stock-Based Compensation (Recovery) Expense (517) 3,361   3,331
    G&A Expenses, Including Stock Based Compensation $11,626 $14,143   $13,522
             
    Adjusted EBITDA(1) $85,162 $94,792   $76,168
             
    EBITDA(1) $79,710 $91,891   $65,247
             
    Net Cash Provided by Operating Activities $73,230 $60,827   $26,607
             
    Funds Flow from Operations(1) $55,344 $74,307   $44,129
             
    Capital Expenditures $94,727 $55,331   $78,579
             
    Free Cash Flow(1) $(39,383) $18,976   $(34,450)
             
    Average Daily Production (boe/d)        
    WI Production Before Royalties 46,647 32,242   41,009
    Royalties (8,084) (6,397)   (7,327)
    Production NAR 38,563 25,845   33,682
    Decrease (Increase) in Inventory 461 235   (712)
    Sales 39,024 26,080   32,970
    Royalties, % of WI Production Before Royalties 17% 20%   18%
             
    Cash Netback ($/boe)(1)        
    Average Realized Price before Royalties 48.55 66.40   48.56
    Royalties (8.33) (13.08)   (8.83)
    Average Realized Price 40.22 53.32   39.73
    Transportation Expenses (1.63) (1.55)   (1.15)
    Average Realized Price Net of Transportation Expenses 38.59 51.77   38.58
    Operating Expenses (15.89) (16.40)   (16.39)
    Operating Netback(1)(3) 22.70 35.37   22.19
    G&A Expenses Before Stock-Based Compensation (2.86) (3.65)   (2.75)
    Transaction Costs   (1.20)
    Realized Foreign Exchange Gain (Loss) (0.51) (0.49)   0.07
    Cash settlement on derivative instruments 0.10   0.30
    Interest Expense, Excluding Amortization of Debt Issuance Costs (4.58) (5.12)   (5.40)
    Interest Income 0.10 0.23   0.34
    Other Gain   0.40
    Net Lease Payments 0.04 0.12   0.07
    Current Income Tax Expense (1.95) (1.33)   (2.12)
    Cash Netback(1) $13.04 $25.13   $11.90
             
    Share Information (000s)        
    Common Stock Outstanding, End of Period 35,524 31,401   35,972
    Weighted Average Number of Shares of Common Stock Outstanding – Basic and Diluted 35,777 31,813   34,333
    South American Operational Information Three Months Ended March 31,   Three Months
    Ended
    December 31,
      2025 2024   2024
    Operating Netback(1)(3)        
    Oil Sales $138,671 $157,577   $128,335
    Operating Expenses (50,827) (48,466)   (51,121)
    Transportation Expenses (4,304) (4,584)   (3,607)
    Operating Netback(1)(3) $83,540 $104,527   $73,607
             
    Average Daily Production (boe/d)        
    WI Production Before Royalties 29,686 32,242   29,695
    Royalties (5,844) (6,397)   (5,761)
    Production NAR 23,842 25,845   23,934
    Decrease (Increase) in Inventory 461 235   (712)
    Sales 24,303 26,080   23,222
    Royalties, % of WI Production Before Royalties 20% 20%   19%
             
    Operating Netback ($/boe)(1)(3)        
    Brent $74.98 $81.76   $74.01
    Quality and Transportation Discount (11.58) (15.36)   (13.94)
    Royalties (12.29) (13.08)   (11.94)
    Average Realized Price 51.11 53.32   48.13
    Transportation Expenses (1.59) (1.55)   (1.35)
    Average Realized Price Net of Transportation Expenses 49.52 51.77   46.78
    Operating Expenses (18.73) (16.40)   (19.17)
    Operating Netback(1)(3) $30.79 $35.37   $27.61
    Canadian Operational Information(4) Three Months Ended March 31,   Three Months
    Ended
    December 31,
      2025 2024   2024
    Operating Netback(1)(3)        
    Oil Sales $21,269 $—   $14,832
    Natural Gas Sales 7,561   3,546
    NGL Sales 7,997   4,193
    Royalties (4,966)   (3,616)
    Oil, Natural Gas and NGL Sales After Royalties $31,862 $—   $18,955
    Operating Expenses (16,527)   (9,649)
    Transportation Expenses (2,607)   (672)
    Operating Netback(1)(3) $12,728 $—   $8,634
             
    Average Daily Production        
    Crude Oil (bbl/d) 3,623   2,461
    Natural Gas (mcf/d) 49,860   32,814
    NGLs (bbl/d) 5,029   3,383
    WI Production Before Royalties (boe/d) 16,961   11,314
    Royalties (boe/d) (2,240)   (1,566)
    Production NAR (boe/d) 14,721   9,748
    Sales (boe/d) 14,721   9,748
    Royalties, % of WI Production Before Royalties 13% —%   14%
             
    Benchmark Prices        
    West Texas Intermediate ($/bbl) 71.47 77.01   70.42
    AECO Natural Gas Price (C$/GJ) 2.05 1.70   1.56
             
    Average Realized Price        
    Crude Oil ($/bbl) 65.23   65.50
    Natural Gas ($/mcf) 1.69   1.17
    NGLs ($/bbl) 17.67   13.47
             
    Operating Netback ($/boe)(1)(3)        
    Average Realized Price $24.12 $—   $21.69
    Royalties (3.25)   (3.47)
    Transportation Expenses (1.71)   (0.65)
    Operating Expenses (10.83)   (9.27)
    Operating Netback(1)(3) $8.33 $—   $8.30

    (1)Funds flow from operations, operating netback, net debt, cash netback, earnings before interest, taxes and depletion, depreciation and accretion (“DD&A”) (EBITDA) and EBITDA adjusted for non-cash lease expense, lease payments, foreign exchange gains or losses, stock-based compensation expense, other gains or losses, transaction costs and financial instruments gains or losses (“Adjusted EBITDA”), cash flow and free cash flow are non-GAAP measures and do not have standardized meanings under generally accepted accounting principles in the United States of America (“GAAP”). Cash flow refers to funds flow from operations. Free cash flow refers to funds flow from operations less capital expenditures. Refer to “Non-GAAP Measures” in this press release for descriptions of these non-GAAP measures and, where applicable, reconciliations to the most directly comparable measures calculated and presented in accordance with GAAP.
    (2) Gran Tierra’s second quarter-to-date 2025 total average differentials and average production are for the period from April 1 to April 30, 2025.
    (3) Operating netback as presented is defined as oil sales less operating and transportation expenses. See the table titled Financial and Operational Highlights above for the components of consolidated operating netback and corresponding reconciliation.
    (4) Gran Tierra entered Canada with the acquisition of i3 Energy which closed October 31, 2024, therefore no comparative data is provided for the corresponding period of 2024.

    Conference Call Information:

    Gran Tierra will host its first quarter 2025 results conference call on Friday, May 2, 2025, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time. Interested parties may access the conference call by registering at the following link: https://register-conf.media-server.com/register/BI0f6a1e0b01bd474992543eb3e6d51c71. The call will also be available via webcast at www.grantierra.com.

    2024 Sustainability Report:

    Gran Tierra has published its 2024 Sustainability Report and is available on the Company website at www.grantierra.com/esg.

    Corporate Presentation:

    Gran Tierra’s Corporate Presentation has been updated and is available on the Company website at www.grantierra.com.

    Contact Information

    For investor and media inquiries please contact:

    Gary Guidry
    President & Chief Executive Officer

    Ryan Ellson
    Executive Vice President & Chief Financial Officer

    +1-403-265-3221

    info@grantierra.com

    About Gran Tierra Energy Inc.
    Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Canada, Colombia and Ecuador and will continue to pursue additional new growth opportunities that would further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Except to the extent expressly stated otherwise, information on the Company’s website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.

    Gran Tierra’s Securities and Exchange Commission (the “SEC”) filings are available on the SEC website at http://www.sec.gov. The Company’s Canadian securities regulatory filings are available on SEDAR+ at http://www.sedarplus.ca and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

    Forward Looking Statements and Legal Advisories:
    This press release contains opinions, forecasts, projections, and other statements about future events or results that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and financial outlook and forward looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). All statements other than statements of historical facts included in this press release regarding our business strategy, plans and objectives of our management for future operations, capital spending plans and benefits of the changes in our capital program or expenditures, our liquidity and financial condition, and those statements preceded by, followed by or that otherwise include the words “expect,” “plan,” “can,” “will,” “should,” “guidance,” “forecast,” “budget,” “estimate,” “signal,” “progress” and “believes,” derivations thereof and similar terms identify forward-looking statements. In particular, but without limiting the foregoing, this press release contains forward-looking statements regarding: the Company’s leverage ratio target, the Company’s plans regarding strategic investments, acquisitions, including the anticipated benefits and operating synergies expected from the acquisition of i3 Energy, and growth, the Company’s drilling program and capital expenditures and the Company’s expectations of commodity prices, including future gas pricing in Canada, exploration and production trends and its positioning for 2024. The forward-looking statements contained in this press release reflect several material factors and expectations and assumptions of Gran Tierra including, without limitation, that Gran Tierra will continue to conduct its operations in a manner consistent with its current expectations, pricing and cost estimates (including with respect to commodity pricing and exchange rates), the ability of Gran Tierra to successfully integrate the assets and operations of i3 Energy or realize the anticipated benefits and operating synergies expected from the acquisition of i3 Energy, the general continuance of assumed operational, regulatory and industry conditions in Canada, Colombia and Ecuador, and the ability of Gran Tierra to execute its business and operational plans in the manner currently planned.

    Among the important factors that could cause our actual results to differ materially from the forward-looking statements in this press release include, but are not limited to: certain of our operations are located in South America and unexpected problems can arise due to guerilla activity, strikes, local blockades or protests; technical difficulties and operational difficulties may arise which impact the production, transport or sale of our products; other disruptions to local operations; global health events; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including inflation and changes resulting from actual or anticipated tariffs and trade policies, global health crises, geopolitical events, including the conflicts in Ukraine and the Gaza region, or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and the resulting company or third-party actions in response to such changes; changes in commodity prices, including volatility or a prolonged decline in these prices relative to historical or future expected levels; the risk that current global economic and credit conditions may impact oil prices and oil consumption more than we currently predict, which could cause further modification of our strategy and capital spending program; prices and markets for oil and natural gas are unpredictable and volatile; the effect of hedges; the accuracy of productive capacity of any particular field; geographic, political and weather conditions can impact the production, transport or sale of our products; our ability to execute our business plan, which may include acquisitions, and realize expected benefits from current or future initiatives; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the ability to replace reserves and production and develop and manage reserves on an economically viable basis; the accuracy of testing and production results and seismic data, pricing and cost estimates (including with respect to commodity pricing and exchange rates); the risk profile of planned exploration activities; the effects of drilling down-dip; the effects of waterflood and multi-stage fracture stimulation operations; the extent and effect of delivery disruptions, equipment performance and costs; actions by third parties; the timely receipt of regulatory or other required approvals for our operating activities; the failure of exploratory drilling to result in commercial wells; unexpected delays due to the limited availability of drilling equipment and personnel; volatility or declines in the trading price of our common stock or bonds; the risk that we do not receive the anticipated benefits of government programs, including government tax refunds; our ability to access debt or equity capital markets from time to time to raise additional capital, increase liquidity, fund acquisitions or refinance debt; our ability to comply with financial covenants in our indentures and make borrowings under our credit agreements; and the risk factors detailed from time to time in Gran Tierra’s periodic reports filed with the Securities and Exchange Commission, including, without limitation, under the caption “Risk Factors” in Gran Tierra’s Annual Report on Form 10-K for the year ended December 31, 2024 filed February 20, 2024 and its other filings with the SEC. These filings are available on the SEC website at http://www.sec.gov and on SEDAR+ at www.sedarplus.ca.

    The forward-looking statements contained in this press release are based on certain assumptions made by Gran Tierra based on management’s experience and other factors believed to be appropriate. Gran Tierra believes these assumptions to be reasonable at this time, but the forward-looking statements are subject to risk and uncertainties, many of which are beyond Gran Tierra’s control, which may cause actual results to differ materially from those implied or expressed by the forward looking statements. The risk that the assumptions on which the 2024 outlook are based prove incorrect may increase the later the period to which the outlook relates. All forward-looking statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by Gran Tierra that Gran Tierra believes these forward-looking statements continue to be true as of any subsequent date. Actual results may vary materially from the expected results expressed in forward-looking statements. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. In addition, historical, current and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future.

    The estimates of future production (aggregate and per country), EBITDA, net cash provided by operating activities (described in this press release as “cash flow”), free cash flow, certain prices and expenses (aggregate and per country) and operating netback (aggregate and per country) may be considered to be future-oriented financial information or a financial outlook for the purposes of applicable Canadian securities laws. Financial outlook and future-oriented financial information contained in this press release about prospective financial performance, financial position or cash flows are provided to give the reader a better understanding of the potential future performance of the Company in certain areas and are based on assumptions about future events, including economic conditions and proposed courses of action, based on management’s assessment of the relevant information currently available, and to become available in the future. In particular, this press release contains projected operational and financial information for 2025. These projections contain forward-looking statements and are based on a number of material assumptions and factors set out above. Actual results may differ significantly from the projections presented herein. The actual results of Gran Tierra’s operations for any period could vary from the amounts set forth in these projections, and such variations may be material. See above for a discussion of the risks that could cause actual results to vary. The future-oriented financial information and financial outlooks contained in this press release have been approved by management as of the date of this press release. Readers are cautioned that any such financial outlook and future-oriented financial information contained herein should not be used for purposes other than those for which it is disclosed herein. The Company and its management believe that the prospective financial information has been prepared on a reasonable basis, reflecting management’s best estimates and judgments, and represent, to the best of management’s knowledge and opinion, the Company’s expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results.

    Non-GAAP Measures

    This press release includes non-GAAP financial measures as further described herein. These non-GAAP measures do not have a standardized meaning under GAAP. Investors are cautioned that these measures should not be construed as alternatives to net income or loss, cash flow from operating activities or other measures of financial performance as determined in accordance with GAAP. Gran Tierra’s method of calculating these measures may differ from other companies and, accordingly, they may not be comparable to similar measures used by other companies. Each non-GAAP financial measure is presented along with the corresponding GAAP measure so as to not imply that more emphasis should be placed on the non-GAAP measure.

    Operating netback, as presented, is defined as oil sales less operating and transportation expenses. See the table entitled Financial and Operational Highlights above for the components of consolidated operating netback and corresponding reconciliation.

    Cash netback as presented is defined as net income or loss adjusted for DD&A expenses, deferred tax expense or recovery, stock-based compensation expense or recovery, amortization of debt issuance costs, non-cash lease expense, lease payments, unrealized foreign exchange gain or loss, other gain or loss and unrealized derivative instruments loss. Management believes that operating netback and cash netback are useful supplemental measures for investors to analyze financial performance and provide an indication of the results generated by Gran Tierra’s principal business activities prior to the consideration of other income and expenses. A reconciliation from net income or loss to cash netback is as follows:

      Three Months Ended March 31,   Three Months
    Ended
    December 31,
    Cash Netback – (Non-GAAP) Measure ($000s)   2025     2024       2024  
    Net Loss $ (19,280 ) $ (78 )   $ (34,210 )
    Adjustments to reconcile net loss to cash netback        
    DD&A expenses   72,202     56,150       63,406  
    Deferred tax (recovery) expense   (4,712 )   13,479       4,444  
    Stock-based compensation (recovery) expense   (517 )   3,361       3,331  
    Amortization of debt issuance costs   3,833     3,306       3,743  
    Non-cash lease expense   1,736     1,413       1,759  
    Lease payments   (1,567 )   (1,058 )     (1,495 )
    Unrealized foreign exchange loss (gain)   1,687     (2,266 )     (223 )
    Other loss   52            
    Unrealized derivative instrument loss   1,910           3,374  
    Cash netback $ 55,344   $ 74,307     $ 44,129  

    EBITDA, as presented, is defined as net income or loss adjusted for DD&A expenses, interest expense and income tax expense or recovery. Adjusted EBITDA, as presented, is defined as EBITDA adjusted for non-cash lease expense, lease payments, foreign exchange gain or loss, stock-based compensation expense, transaction costs, other gain or loss and unrealized derivative instruments loss. Management uses this supplemental measure to analyze performance and income generated by our principal business activities prior to the consideration of how non-cash items affect that income, and believes that this financial measure is useful supplemental information for investors to analyze our performance and our financial results. A reconciliation from net income or loss to EBITDA and adjusted EBITDA is as follows:

      Three Months Ended March 31,   Three Months
    Ended
    December 31,
    EBITDA – (Non-GAAP) Measure ($000s)   2025     2024       2024  
    Net Loss $ (19,280 ) $ (78 )   $ (34,210 )
    Adjustments to reconcile net loss to EBITDA and Adjusted EBITDA        
    DD&A expenses   72,202     56,150       63,406  
    Interest expense   23,235     18,424       23,752  
    Income tax expense   3,553     17,395       12,299  
    EBITDA $ 79,710   $ 91,891     $ 65,247  
    Non-cash lease expense   1,736     1,413       1,759  
    Lease payments   (1,567 )   (1,058 )     (1,495 )
    Foreign exchange loss (gain)   3,838     (815 )     (496 )
    Stock-based compensation expense   (517 )   3,361       3,331  
    Transaction costs             4,448  
    Other loss   52            
    Unrealized derivative instrument loss   1,910           3,374  
    Adjusted EBITDA $ 85,162   $ 94,792     $ 76,168  

    Funds flow from operations, as presented, is defined as net income or loss adjusted for DD&A expenses, deferred tax expense or recovery, stock-based compensation expense, amortization of debt issuance costs, non-cash lease expense, lease payments, unrealized foreign exchange gain, other gain or loss and unrealized gain or loss on derivative instruments. Management uses this financial measure to analyze performance and income or loss generated by our principal business activities prior to the consideration of how non-cash items affect that income or loss, and believes that this financial measure is also useful supplemental information for investors to analyze performance and our financial results. Free cash flow, as presented, is defined as funds flow from operations adjusted for capital expenditures. Management uses this financial measure to analyze cash flow generated by our principal business activities after capital requirements and believes that this financial measure is also useful supplemental information for investors to analyze performance and our financial results. A reconciliation from net income or loss to both funds flow from operations and free cash flow is as follows:

      Three Months Ended March 31,   Three Months
    Ended
    December 31,
    Funds Flow From Operations –
    (Non-GAAP) Measure ($000s)
      2025     2024       2024  
    Net Loss $ (19,280 ) $ (78 )   $ (34,210 )
    Adjustments to reconcile net loss to funds flow from operations        
    DD&A expenses   72,202     56,150       63,406  
    Deferred tax (recovery) expense   (4,712 )   13,479       4,444  
    Stock-based compensation (recovery) expense   (517 )   3,361       3,331  
    Amortization of debt issuance costs   3,833     3,306       3,743  
    Non-cash lease expense   1,736     1,413       1,759  
    Lease payments   (1,567 )   (1,058 )     (1,495 )
    Unrealized foreign exchange loss (gain)   1,687     (2,266 )     (223 )
    Other loss   52            
    Unrealized derivative instrument loss   1,910           3,374  
    Funds flow from operations $ 55,344   $ 74,307     $ 44,129  
    Capital expenditures $ 94,727   $ 55,331     $ 78,579  
    Free cash flow $ (39,383 ) $ 18,976     $ (34,450 )

    Net debt as of March 31, 2025, was $683 million, calculated using the sum of the aggregate principal amount of 7.75% Senior Notes, and 9.50% Senior Notes outstanding, excluding deferred financing fees, totaling $760 million, less cash and cash equivalents of $77 million.

    Presentation of Oil and Gas Information

    Boes have been converted on the basis of six thousand cubic feet (“Mcf”) natural gas to 1 boe of oil. Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of oil as compared with natural gas is significantly different from the energy equivalent of six to one, utilizing a boe conversion ratio of 6 Mcf: 1 boe would be misleading as an indication of value.

    References to a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume. Gran Tierra’s reported production is a mix of light crude oil and medium heavy crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids for which there is no precise breakdown since the Company’s sales volumes typically represent blends of more than one product type. Well test results should be considered as preliminary and not necessarily indicative of long-term performance or of ultimate recovery. Well log interpretations indicating oil and gas accumulations are not necessarily indicative of future production or ultimate recovery. If it is indicated that a pressure transient analysis or well-test interpretation has not been carried out, any data disclosed in that respect should be considered preliminary until such analysis has been completed. References to thickness of “oil pay” or of a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume.

    This press release contains certain oil and gas metrics, including operating netback and cash netback, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. These metrics are calculated as described in this press release and management believes that they are useful supplemental measures for the reasons described in this press release.

    Such metrics have been included herein to provide readers with additional measures to evaluate the Company’s performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.

    References in this press release to “potential drilling opportunities” are references to unbooked locations for which there are no reserves or resources attributed by any of the Company’s qualified reserves auditors or evaluators but which the Company internally estimates can be drilled based on current land holdings, industry practice regarding well density, and internal review of geologic, geophysical, seismic, engineering, production and resources information. There is no certainty that the Company will drill any particular locations, or that drilling activity on any locations will result in additional reserves, resources or production. Locations on which the Company in fact drills wells will ultimately depend upon the availability of capital, regulatory approvals, seasonal restrictions, commodity prices, costs, actual drilling results, additional reservoir information and other factors. There is a higher level of risk associated with locations that are potential drilling opportunities and not “booked” locations to which any qualified reserves evaluator or auditor may have attributed reserves or resources. The Company generally has less information about reservoir characteristics associated with locations that are potential drilling opportunities and, accordingly, there is greater uncertainty whether wells will ultimately be drilled in such locations and, if drilled, whether they will result in additional reserves, resources or production.

    The MIL Network

  • MIL-OSI: Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios as of April 30, 2025

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) today provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of April 30, 2025.

    As of April 30, 2025, the Company’s net assets were $2.3 billion, and its net asset value per share was $13.50. As of April 30, 2025, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 713% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 515%.

     STATEMENT OF ASSETS AND LIABILITIES
    APRIL 30, 2025   // (UNAUDITED)
     
        (in millions)
    Investments   $ 3,131.2  
    Cash and cash equivalents     3.1  
    Accrued income     9.7  
    Other assets     1.0  
    Total assets     3,145.0  
         
    Credit facility     9.0  
    Notes     388.2  
    Unamortized notes issuance costs     (2.5 )
    Preferred stock     153.6  
    Unamortized preferred stock issuance costs     (1.2 )
    Total leverage     547.1  
         
    Payable for securities purchased     7.5  
    Other liabilities     13.7  
    Current tax liability, net     6.2  
    Deferred tax liability, net     287.2  
    Total liabilities     314.6  
         
    Net assets   $ 2,283.3  
         

    The Company had 169,126,038 common shares outstanding as of April 30, 2025.

    Long-term investments were comprised of Midstream Energy Companies (95%), Utility Companies (2%) and Other (3%).  

    The Company’s ten largest holdings by issuer at April 30, 2025 were:

          Amount
    (in millions)
    % Long Term
    Investments
    1. The Williams Companies, Inc. (Midstream Energy Company)   $348.1   11.1 %
    2. MPLX LP (Midstream Energy Company)     308.2   9.8 %
    3. Enterprise Products Partners L.P. (Midstream Energy Company)     304.3   9.7 %
    4. Energy Transfer LP (Midstream Energy Company)     302.2   9.7 %
    5. Cheniere Energy, Inc. (Midstream Energy Company)     260.2   8.3 %
    6. Kinder Morgan, Inc. (Midstream Energy Company)     202.0   6.5 %
    7. ONEOK, Inc. (Midstream Energy Company)     177.9   5.7 %
    8. TC Energy Corporation (Midstream Energy Company)     166.9   5.3 %
    9. Targa Resources Corp. (Midstream Energy Company)     165.0   5.3 %
    10. Western Midstream Partners, LP (Midstream Energy Company)     130.8   4.2 %

    Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete listing of holdings by viewing the Company’s most recent quarterly or annual report.

    Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.

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

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

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

    The MIL Network

  • MIL-OSI USA: Hoeven: Senate Passes CRA to Knock Down Biden Administration’s ‘Once-In-Always-In’ Rule

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven
    05.01.25
    WASHINGTON – Senator John Hoeven, a member of the Senate Energy and Natural Resources Committee, today issued the following statement after the Senate approved a Congressional Review Act (CRA) resolution of disapproval he is cosponsoring to overturn the Biden administration’s burdensome “Once-in-Always-in” rule, which permanently classifies certain industrial facilities as major sources of hazardous air pollutants. The Biden-era rule reversed a Trump administration policy that allowed facilities that reduced their emissions below federal thresholds to reclassify and reduce their compliance costs. Congresswoman Julie Fedorchak sponsored the companion resolution in the U.S. House of Representatives.
    “We knocked down the Biden administration’s “Once-in-Always-in” rule because it makes absolutely no sense to continue punishing companies with higher compliance costs when they reduce their emissions to meet federal standards,” said Hoeven. “Repealing this rule will help encourage more businesses to invest in the latest, greatest technologies. That’s the right approach to improve environmental stewardship.” 

    MIL OSI USA News

  • MIL-OSI: FERC Approves Reliability Must Run Settlement Agreement for Units at Talen Energy’s Brandon Shores and H.A. Wagner Power Plants

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) — Talen Energy Corporation (“Talen”) (NASDAQ: TLN) announced today that the Federal Energy Regulatory Commission (the “FERC”) has approved the terms under which Talen will operate units at its Brandon Shores and H.A. Wagner power plants until May 31, 2029, beyond their scheduled May 31, 2025 retirement dates.

    Talen, PJM Interconnection, L.L.C. (“PJM”), and a broad coalition of the Maryland Public Service Commission, Maryland customers, and electric utilities reached agreement in January on the “reliability-must-run” or “RMR” agreement approved today by FERC. Under the RMR agreement, Brandon Shores Units 1 and 2 and H.A. Wagner Units 3 and 4 will remain in service and provide power necessary to maintain grid and transmission reliability in and around the City of Baltimore until transmission upgrades to provide reliable power to the area from other sources are complete.  

    “We appreciate FERC’s approval of this important agreement, which will help to ensure the reliable supply of electricity to the people of Baltimore and its surrounding area,” said Mac McFarland, President and Chief Executive Officer of Talen. “Talen is pleased to help provide critical infrastructure with an RMR structure that simultaneously creates reliable electricity in Baltimore and protects Maryland consumer rates.”

    About Talen

    Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced. Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this significant growth opportunity, as data centers serving artificial intelligence increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.

    Investor Relations:
    Sergio Castro
    Vice President & Treasurer
    InvestorRelations@talenenergy.com

    Media:
    Taryne Williams
    Director, Corporate Communications
    Taryne.Williams@talenenergy.com

    Forward-Looking Statements

    This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecasts,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations, and are subject to numerous factors that present considerable risks and uncertainties.

    The MIL Network

  • MIL-OSI: Marksmen Energy Inc. Announces Delay in Filing its 2024 Annual Financial Statements and Issuance of Promissory Note

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, ALBERTA,, May 01, 2025 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company“) announced today that its annual financial statements, accompanying management’s discussion and analysis and related chief executive officer (“CEO“) and chief financial officer (“CFO“) certifications for the financial year ended December 31, 2024 (the “Annual Filings“), may not be filed within the period prescribed for the filing of such documents under Parts 4, 5 and 6 of National Instrument 51-102 Continuous Disclosure Obligations and pursuant to National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings, namely within 120 days of year-end, being April 30, 2025 (the “Filing Deadline“).

    The delay in filing the Annual Filings is related to the Company’s inability to raise capital for the year 2024 and through Q1 2025 due to market conditions. As such, the Company experienced an unanticipated delay in receipt of funds to pay the Company’s external auditor to complete the audit. Such funds have since been received by the Company on April 24, 2025 pursuant to the Loan described below. The Company has since engaged with its auditor to complete the audit to address the completion of the Annual Filings.

    Marksmen is working closely with its auditor MNP LLP and is making every effort to submit the Annual Filings in a timely fashion and expects to file no later than June 15, 2025.

    The Company is providing this default announcement in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203“). The Company has made an application to the Alberta Securities Commission, as principal regulator of the Company, a management cease trade order (“MCTO“) under NP 12-203 in respect of the default regarding the Annual Filings. The MCTO will prohibit the CEO and the CFO from trading in securities of Marksmen for two full business days after all the required filings have been filed on SEDAR+. The issuance of the MCTO, if issued, does not affect the ability of persons other than the CEO and the CFO of the Company to trade in the Company’s securities. The application for the MCTO remains subject to the risk factors described in “Forward Looking Information and Risk Factors” below, including the risk that the MCTO application may not be successful or may not be completed prior to a securities commission issuing a failure-to-file cease trade order against the Company following the Filing Deadline.

    The Company confirms that it intends to satisfy the provisions of the alternative information guidelines found at sections 9 and 10 of NP 12-203 respecting Management Cease Trade Orders for so long as it remains in default as a result of the late filing of the Annual Filings. During the period of default, the Company will issue biweekly default status reports in the form of further news releases, which will also be filed on SEDAR+. The Company confirms that there are no insolvency proceedings against it as of the date of this news release. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release.

    Promissory Note

    The Company also announces that it has obtained an unsecured non-convertible loan (the “Loan“) in the amount of CAD$250,000 from Conex Services Inc. (“Conex“). The Loan is evidenced by a promissory note issued by the Company to Conex on April 24, 2025 (the “Promissory Note“). The amount outstanding under the Promissory Note bears interest at a rate of 15% per annum and is due and payable in full on December 31, 2025.

    Related Party Participation

    The Loan is being provided by Conex, which is an entity wholly owned by Glenn Walsh, an insider of the Company by virtue of holding more than 10% of the outstanding common shares of the Company. As an insider of the Company participated in this transaction, it is deemed to be a “related party transaction” as defined under Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions (“MI 61-101“).

    Since the Promissory Note is not convertible into shares of Marksmen, there will be no effect on the voting interests of any related parties. The Promissory Note was approved by all of the directors of Marksmen.

    The entering into of the Promissory Note with respect to the Loan is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 (pursuant to subsections 5.5(b) and 5.7(1)(f)) as the Company is not listed on a specified market and the Loan is not convertible into or repayable with equity or voting securities of the Company.

    For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.

    Forward Looking Information and Risk Factors

    This news release contains statements and information that may constitute “forward-looking information” within the meaning of applicable securities legislation, including statements identified by the use of words such as “will”, “expects”, “positions”, “believe”, “potential” and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts.

    Such forward-looking information is not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but is not limited to, information concerning the estimated filing date of the Annual Filings, and whether the Alberta Securities Commission will grant the Company’s application for an MCTO.

    By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. Some of these risks include, but are not limited to, the risk that the Annual Filings are filed later than anticipated, the risk that the Company’s application for an MCTO is not successful for any reason, in which case there is a risk that trading in the Company’s securities may halted by the TSX Venture Exchange and/or cease traded temporarily by the Canadian securities commissions after the Filing Deadline until such time as the Annual Filings are filed on SEDAR+.

    Additional information regarding risks and uncertainties of the Company’s business are contained under the headings “Financial Risk Management” and “Going Concern” in the Company’s Management’s Discussion & Analysis for the condensed interim consolidated financial statements for the nine months ended September 30, 2024 and the Company’s other public filings which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

    In connection with the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information contained in this news release are made as of the date of this news release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.

    The MIL Network

  • MIL-OSI Economics: Oil and gas companies add renewable fuels to low-carbon portfolio, says GlobalData

    Source: GlobalData

    Oil and gas companies add renewable fuels to low-carbon portfolio, says GlobalData

    Posted in Oil & Gas

    The global energy landscape is steadily moving toward cleaner sources, with a gradual decline in fossil fuel dependence. The share of fossil fuels in the world’s energy mix has declined from 82% in 2022 to 81.5% in 2023, indicating a gradual shift. This transition is driven by the need to cut greenhouse gas emissions and combat global warming. Against this backdrop, biofuels are emerging as a low-carbon alternative in transportation, with their share in total liquid fuel demand expected to grow to 6.4% in 2030, forecasts GlobalData, a leading data and analytics company.

    GlobalData’s Strategic Intelligence report, “Biofuels,” evaluates the role of oil and gas companies in the biofuels theme. It benchmarks the efforts of oil majors, such as TotalEnergies, BP, Shell, and ExxonMobil, in the biofuels value chain. It also identifies the key developments influencing this theme and provides an outlook for renewable fuels – an emerging category of biofuels.

    Ravindra Puranik, Oil and Gas Analyst at GlobalData, comments: “The oil and gas industry—including producers, contractors—are relatively new entrants in the biofuels space. Despite this, they are making notable movements in the competitive landscape for renewable fuels, such as renewable diesel and sustainable aviation fuels (SAF). Prominent refiner Neste is leading the renewable fuels segment, particularly renewable diesel with four active refineries around the world.”

    Despite their clean energy profile, biofuels face significant challenges related to production costs and competition with fossil fuels. Processing advanced biomass sources, such as agricultural and forestry waste, remains expensive, limiting large-scale viability. However, refiners like Neste, Valero, and Marathon Petroleum are making strategic investments to scale biofuel production and lower costs. Technological innovations in refining are also critical in improving biofuel affordability and availability.

    Puranik continues: “Although biofuels contribute towards energy security while reducing emissions, their adoption remains nascent and restricted to certain markets globally. As a result, companies are cautious while pledging investments for new facilities, and even halting project development, as was seen in the case of Shell’s upcoming facility in Rotterdam.”

    Global renewable refinery capacity is experiencing significant growth, with 15 new facilities under construction in 2025 while two already operational this year. By 2030, an additional 218 facilities are expected to come online, expanding global capacity from 9,340 million gallons per year (mmgy) in 2024 to a projected 32,618 mmgy. The US currently accounts for 51% share in global renewable fuel production, driven by policy incentives, but the recent political shifts, including Trump’s attempts to repeal parts of the Inflation Reduction Act (IRA), create uncertainty.

    Puranik concludes: “Policy approaches vary widely around the world. While the European Union (EU) enforce strict mandates, such as the ReFuelEU Aviation initiative requiring a minimum of 2% SAF blending by 2025, some of the other regions lack such clear policies, leading to disparities in biofuel adoption and investment. The commitment of a nation to achieve interim net-zero objectives, availability of biomass, and affordability of petroleum fuels are critical factors influencing policy support for biofuels.”

    MIL OSI Economics

  • MIL-OSI USA: Pfluger Leads Push to Mitigate Cybersecurity Risks Associated with Unsecured Networks

    Source: United States House of Representatives – Congressman August Pfluger (TX-11)

    WASHINGTON, DC — This week, Congressman August Pfluger (TX-11) led a letter with several colleagues commending Federal Communications Commission (FCC) Chairman Brendan Carr on his decision to establish the new Council for National Security within the FCC, and urging him to use the council to mitigate cybersecurity risks associated with unsecured routers.

    In part, the members wrote, “The recent proliferation of cybersecurity incidents underscores the need for the entire federal government to work together to address and deter cyber threats. We write to you today because we believe there is more the FCC can do to reduce the likelihood of such incidents. As the backbone of the Internet, routers play a critical role in securing communications for consumers and businesses. When these devices are insecure, they can serve as gateways for cyberattacks. For example, weak, default, or easily predicted passwords make routers vulnerable to exploitation. Malicious actors can exploit these vulnerabilities in routers to disrupt service, steal sensitive data, or even launch attacks against critical infrastructure…”

    “We are increasingly concerned about the prevalence of these devices and that unsecured routers may allow the CCP to surveil American data or disrupt our networks. Although the Department of Commerce is reviewing whether or not to ban routers made by Chinese-owned companies in the future, many of these devices remain on our networks, which nefarious actors could still leverage.”

    The letter outlines several examples of how the Chinese Communist Party (CCP) has repeatedly tried to leverage private companies and create backdoors in our critical infrastructure technology. The letter also highlights that under Chairman Carr’s leadership, the Council for National Security can take action against the CCP by leveraging equipment authorization to require routers to allow only uniquely identifiable devices known to the household and securely authenticated by the network owner.

    See the full letter HERE or read the full text below.

    Dear Chairman Carr,

    Firstly, we write to commend your decision to establish the new Council for National Security within the Federal Communications Commission (FCC), a crucial step in safeguarding America’s telecommunications infrastructure. Congress stands ready to work with you on this initiative to reduce America’s dependence on foreign adversaries, mitigate cyberattack vulnerabilities, and ensure U.S. supremacy in critical technologies.

    As you know, the House Energy and Commerce Committee has worked diligently to combat the People’s Republic of China’s (PRC) efforts to leverage private companies to create backdoors in our telecommunications infrastructure. For example, the House of Representatives just recently passed H.R. 866, the ROUTERS Act, to safeguard Americans’ communications networks from foreign-adversary controlled technology, including routers, modems, or devices that combine both. Additionally, in the 118th Congress, the House passed H.R. 7521, the Protecting Americans from the Foreign Adversary Controlled Applications Act, which prevents foreign adversary-controlled applications from targeting, surveilling, and manipulating Americans through online applications like TikTok. Congress also worked to ensure that the Secure and Trusted Communications Networks Reimbursement Program, or the “Rip and Replace” program, received proper funding to remove untrusted equipment such as Huawei and ZTE from our networks.

    Last year, the House Committee on Homeland Security and the Select Committee on the Chinese Communist Party released their Joint Investigation report into Shanghai Zhenhua Heavy Industries Company (ZPMC), a PRC-owned and operated company. The investigation yielded that ZPMC, or a third-party company contracted with ZPMC, installed cellular modems onto STS cranes currently operational at U.S. ports. These installations fall outside the scope of any contract between the affected U.S. ports and ZPMC. The modems created an obscure method to collect information and bypass firewalls in a manner that could potentially disrupt port operations.

    Even more recently, the U.S. Cybersecurity and Infrastructure Security Agency (CISA) reported that the Chinese-made Contec CMS8000 patient monitors contained a hard-coded IP address linked to an unidentified third party, allowing for reverse backdoor functionality. This vulnerability allows for remote access of the medical device and may allow for potential manipulation, risking patient safety and compromising sensitive health data.

    These are just a few examples of how the CCP will use every tool at its disposal to undermine U.S. economic and national security interests to further its agenda. The recent proliferation of cybersecurity incidents underscores the need for the entire federal government to work together to address and deter cyber threats. We write to you today because we believe there is more the FCC can do to reduce the likelihood of such incidents.

    As the backbone of the Internet, routers play a critical role in securing communications for consumers and businesses. When these devices are insecure, they can serve as gateways for cyberattacks. For example, weak, default, or easily predicted passwords make routers vulnerable to exploitation. Malicious actors can exploit these vulnerabilities in routers to disrupt service, steal sensitive data, or even launch attacks against critical infrastructure.

    It has been reported that TP-Link, a Chinese company, owns roughly 65% of the routers used in U.S. homes and small businesses. Additionally, the Department of Defense and other federal government agencies have used TP-Link Routers before. Multiple TP-Link routers have been added to the National Institute of Science (NIST) National Vulnerability Database for containing a directory traversal vulnerability, allowing unauthenticated remote attackers to access sensitive files by sending specially crafted requests.

    We are increasingly concerned about the prevalence of these devices and that unsecured routers may allow the CCP to surveil American data or disrupt our networks. Although the Department of Commerce is reviewing whether or not to ban routers made by Chinese-owned companies in the future, many of these devices remain on our networks, which nefarious actors could still leverage.

    With the new Council for National Security, the FCC can take various actions to mitigate cybersecurity risks associated with unsecured routers. The FCC could leverage equipment authorization through the Telecommunications Certification Body to require routers to allow only uniquely identifiable devices known to the household and securely authenticated by the network owner onto a customer’s network. These steps represent broadly accepted minimum security practices under NIST guidance and are necessary first steps toward protecting our nation’s consumers and networks from cyber risks. Other immediate-term options, such as prohibiting any new sales of TP-Link routers, or requiring ISPs to block new TP-Link routers from being added to home networks, would stop the influx of these devices on networks. Additionally, as we think beyond TP-Link routers, ISP authentication will strengthen U.S. networks’ ability to defend themselves against future untrusted Internet of Things (IoT) devices joining their networks.

    We are confident that, under your leadership, we can advance national cybersecurity initiatives

    and create robust strategies to strengthen U.S. networks against cybersecurity threats. Together,

    we can foster a secure digital environment that instills trust and confidence among users

    nationwide.

    Sincerely,

    MIL OSI USA News

  • MIL-OSI USA: Lankford, Hudson Unveil Bill to End Biden-Era ‘Social Cost’ Climate Models, Supercharge Trump’s American Energy Agenda

    US Senate News:

    Source: United States Senator for Oklahoma James Lankford
    WASHINGTON, DC — Senator James Lankford (R-OK) today introduced the Transparency and Honesty in Energy Regulations Act alongside Congressman Richard Hudson (R-NC), legislation that will eliminate the use of “social cost” metrics in federal rulemaking and reinforce President Donald Trump’s Unleashing American Energy executive order.
    “Under President Trump, American energy dominance is back, and states like Oklahoma are fueling the charge,” said Lankford. “This bill pushes back on the Biden Administration’s war on American energy producers by ensuring federal rulemaking is grounded in facts—not flawed models or political agendas. It’s a necessary step to restore transparency, rein in government overreach, and keep American energy competitive.”
    “The Biden-Harris Administration used every tool at their disposal to advance their radical green agenda,” said Hudson. “My bill ensures that going forward, no Administration can use inaccurate, unreliable standards to pass dangerous regulations.”
    Background
    The social cost of greenhouse gas metrics are theoretical measurements that try to put a price or economic impact on emissions. Measurement theories have been used by the federal government to determine the economic impact of potential federal regulations, even though they are unscientific and can result in more burdensome regulations.
    Lankford’s bill would prohibit the Environmental Protection Agency, the Department of Energy, the Interior Department, the Council on Environmental Quality, the Federal Energy Regulatory Commission, the Department of the Treasury, the Department of Agriculture, the Department of Commerce, and the Department of Health and Human Services from using the social cost of carbon, the social cost of methane, and social cost of nitrous oxide as rationales for their regulations.
    The Washington Reporter published an exclusive on the legislation, which you can read HERE.

    MIL OSI USA News

  • MIL-OSI: Cenovus to hold first-quarter 2025 conference call and webcast and 2025 Annual Meeting of Shareholders on May 8

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 01, 2025 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its first-quarter 2025 results on Thursday, May 8, 2025. The news release will provide consolidated first-quarter operating and financial information. The company’s financial statements will be available on Cenovus’s website, cenovus.com.

    First-quarter 2025 conference call: 9 a.m. MT (11 a.m. ET)

    For analysts wanting to join the call, please register in advance at Conference Call registration.

    To participate, you must complete the online registration form in advance of the conference call start time. Register ahead of time to receive a unique PIN to access the conference call via telephone. Once registered, participants can dial into the conference call from their telephone via the unique PIN or click on the “Call Me” option to receive an automated call directly on their telephone.

    To listen to the conference call online, a live audio webcast will also be available and archived for approximately 30 days.

    Annual Meeting of Shareholders

    Cenovus will also host its Annual Meeting of Shareholders on May 8, 2025, at 1 p.m. MT (3 p.m. ET). The webcast link to the Shareholders Meeting is also available under Investors at cenovus.com.

    Cenovus Energy Inc.

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

    Find Cenovus on Facebook, LinkedIn, YouTube and Instagram.

    Cenovus contacts:

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

    The MIL Network

  • MIL-OSI USA: Mfume Joins Bicameral Letter on Cuts to Medicaid in District of Columbia

    Source: United States House of Representatives – Congressman Kweisi Mfume (MD-07)

    WASHINGTON, DC – Amid reports that House Republicans plan to reduce the Federal Medical Assistance Percentage (FMAP) in the District of Columbia, Congressman Steny H. Hoyer (MD-05), Congresswoman Eleanor Holmes Norton (D-DC), and Senator Chris Van Hollen (D-MD) led 15 Members in sending a letter to leaders on the House Committee on Energy & Commerce decrying the proposed cuts to Medicaid in the District. The letter is signed by all Democrats in the National Capital Region, including Senators Mark Warner (D-VA), Tim Kaine (D-VA), and Angela Alsobrooks (D-MD), and Representatives Robert “Bobby” Scott (VA-03), Gerry Connolly (VA-11), Donald Beyer, Jr. (VA-08), Jamie Raskin (MD-08), Kweisi Mfume (MD-07), Glenn Ivey (MD-04), Jennifer L. McClellan (VA-04), Eugene Vindman (VA-07), Suhas Subramanyam (VA-10), Johnny Olszewski (MD-02), Sarah Elfreth (MD-03), and April McClain Delaney (MD-06).

    In 2024, 264,332 people enrolled in Medicaid in the District, including 3 in every 7 children, 4 in every 5 nursing home residents, and 1 in every 2 working-age adults with disabilities. Many of these Americans risk losing coverage if D.C.’s FMAP is reduced. A lower FMAP would also force hospitals, clinics, and local health centers to close their doors, undermining care for everyone in the region. 

    “It is imperative that our constituents, and those who seek care within our jurisdictions, have reliable access to health care,” the Members wrote in their letter. “Cuts to Medicaid will have devastating impacts regionally and nationwide, decreasing the availability of providers and services, forcing millions of American families to lose coverage, and increasing wait times for patients in need. Moreover, cuts threaten our region’s health centers, hospitals, nursing homes, home and community-based care providers, and behavioral health providers.”

    “Such a change would be catastrophic, destabilizing the health care system of the Washington, D.C. metropolitan region and beyond and impacting the hundreds of thousands of constituents who live, work, travel through, or receive care in D.C. each day,” the Members continued.

    “As a top children’s hospital and the region’s only Pediatric Level 1 Trauma Center, we are deeply concerned that the proposed cuts to D.C. Medicaid will have unintended consequences and will put critical health care for children at risk,” said Michelle Riley-Brown, President and CEO of Children’s National Hospital. “These proposals would force us to immediately scale back the specialized care that hundreds of thousands of families from all 50 states and D.C. rely on each year, including the 55 percent of our patients who are covered by Medicaid.” 

    “Cutting DC’s Medicaid funding would decimate health care, emergency preparedness, and public safety in the city, impacting not only DC residents but those who work and visit the city,” said Jacqueline Bowens, President and CEO of DC Hospital Association. “Cuts would force reductions in services at hospitals and have a ripple effect on the city budget and essential public safety services, including police, fire, education, and substance abuse, mental health, and homeless services.”

    The full text of the letter is included below:

    Dear Chairman Guthrie, Ranking Member Pallone, Chairman Carter, and Ranking Member DeGette:

    We write in strong opposition to the proposals contemplated in the FY25 Budget Resolution to cut Medicaid. It is imperative that our constituents, and those who seek care within our jurisdictions, have reliable access to health care. Cuts to Medicaid will have devastating impacts regionally and nationwide, decreasing the availability of providers and services, forcing millions of American families to lose coverage, and increasing wait times for patients in need. Moreover, cuts threaten our region’s health centers, hospitals, nursing homes, home and community-based care providers, and behavioral health providers. These indispensable providers serve low-income, military-connected, and disabled children and adults, and play a unique role in our nation’s capital.

    We write with particular concern regarding proposals to reduce the Federal Medical Assistance Percentage (FMAP) for the District of Columbia. Such a change would be catastrophic, destabilizing the health care system of the Washington, D.C. metropolitan region and beyond and impacting the hundreds of thousands of constituents who live, work, travel through, or receive care in D.C. each day. Notably, this includes Members of Congress and their staff, members of the administration, visiting dignitaries, and their families, as well as families across the country who rely on D.C.’s specialized care. We all depend on and expect our nation’s capital to have a quality, responsive health care system. Efforts to weaken that system through cuts to Medicaid undermine the stability and resilience our region requires and would have reverberating effects across the country.

    In 1997, a Republican Congress passed the National Capital Revitalization and Self-Government Improvement Act of 1997 (Revitalization Act), which established the current 70 percent D.C. FMAP and transferred certain functions and costs from the D.C. government to the federal government. Congress passed the Revitalization Act in part because it recognized that it imposes unique revenue limitations on D.C., which operates as a state, county, and city. Congress imposes three main revenue limitations on D.C.: D.C. cannot tax income earned in D.C. by nonresidents, depriving D.C. of more than $3 billion in revenue per year; D.C. cannot permit buildings to exceed certain height limitations; and D.C. cannot tax its sizable federal property.

    As it currently stands, other jurisdictions are entitled to a higher FMAP than D.C. The Consolidated Appropriations Act, 2023 set the FMAP for American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands permanently at 83% and set the FMAP for Puerto Rico at 76% through FY 2027. Five states (Mississippi, West Virginia, Alabama, New Mexico, and Kentucky) have FMAPs that are higher than D.C.

    Reducing D.C.’s FMAP would weaken care for all in the Washington, D.C. metropolitan region, regardless of insurance status. Medicaid supports nearly a quarter of D.C.’s population, including 3 in 7 children and 4 in 5 nursing home residents. For example, proposals to reduce D.C.’s FMAP from 70 percent to 50 percent would create a $1.1 billion annual hole in local funds and ultimately result in a total loss of $2.1 billion per year in program funds to local hospitals, universities, and providers. This equates to a 40 percent cut in funding directly impacting health care providers. Hospitals in the region project at least $232 million in uncompensated care due to D.C.’s FMAP reductions, with at least one medical system expecting to close altogether. Impacts would reverberate across fire and emergency services, police recruitment and retention, and behavioral health resources and threaten the ability of hospitals and other safety net providers to stay open. Community-based providers in Virginia and Maryland risk being overwhelmed, as demand rises from D.C. residents seeking timely care.

    Further, without corresponding funding or infrastructure support, it would be challenging for the rest of the region to shoulder the responsibility for regional emergency response. D.C.’s four Level I trauma centers, including those at Children’s National Hospital and MedStar Washington Hospital Center, provide vital care for patients in major incidents or emergency situations, including those involving Members of Congress, federal employees, and visitors. Reducing D.C.’s FMAP would have a particularly disproportionate impact on the provision of trauma and specialty capacities, principally for burn and pediatric patients.

    Reductions to D.C.’s FMAP would adversely limit regional access to life-saving and specialized pediatric care. We note with particular alarm the potential impacts on Children’s National, which provides specialized care to patients from all 50 states, including West Virginia, Pennsylvania, Florida, and North Carolina. 73% of hospital stays and emergency department visits at Children’s National are covered by Medicaid. Reductions in Medicaid funding would likely result in the hospital making significant cuts to primary care, behavioral health, and outpatient subspecialty services, with families having to travel further to obtain such care or going without it. Further, local federally qualified health centers (FQHCs) anticipate that a change to D.C.’s FMAP would result in a loss of coverage for more than 33,000 adult health center patients and a loss of $58 million in payments, leaving them unable to serve over 24,000 of their current patients.

    Reductions to D.C.’s FMAP would be catastrophic for our local providers and pose grave challenges to ensuring patients in the mid-Atlantic region and beyond receive necessary care. As you consider potential policy options through Budget Reconciliation, we urge you to strongly oppose all cuts to Medicaid and to protect the current FMAP for the District of Columbia.

    ###

    MIL OSI USA News

  • MIL-OSI: Archrock Completes Acquisition of Natural Gas Compression Systems, Inc.

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) — Archrock, Inc. (NYSE: AROC) (“Archrock” or the “Company”) today announced it has completed its previously announced acquisition of Natural Gas Compression Systems, Inc. (“NGCSI”) and NGCSE, Inc. (“NGCSE”) (collectively, “NGCS”).

    “We are pleased to complete our acquisition of NGCS and welcome its highly talented team of employees to Archrock,” said Brad Childers, President and Chief Executive Officer of Archrock. “This accretive transaction is expected to increase our scale, expand our customer relationships, deepen our operations in key regions and strengthen our position as a premier provider of natural gas compression services in the United States. We are confident Archrock is poised for continued growth and value creation as we power a cleaner America.”

    At closing, Archrock issued approximately 2.251 million new Archrock common shares to NGCSE. In addition, Archrock funded the $299 million cash portion of the total consideration with available capacity under its ABL credit facility. Archrock remains committed to its stated target leverage ratio range of between 3.0 times and 3.5 times. The transaction is expected to be immediately accretive to Archrock’s 2025 earnings per share and cash available for dividend per share.

    About Archrock

    Archrock is an energy infrastructure company with a primary focus on midstream natural gas compression and a commitment to helping its customers produce, compress and transport natural gas in a safe and environmentally responsible way. Headquartered in Houston, Texas, Archrock is a premier provider of natural gas compression services to customers in the energy industry throughout the U.S. and a leading supplier of aftermarket services to customers that own compression equipment. For more information on how the Company embodies its purpose, WE POWER A CLEANER AMERICA™, visit www.archrock.com.

    Forward-Looking Statements

    This press release contains forward-looking statements, which include statements about the expected benefits of the acquisition of Natural Gas Compression Systems, Inc. and NGCSE, Inc. These statements are not guarantees of future performance or actions. Forward-looking statements rely on a number of assumptions concerning future events and are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Archrock’s Annual Report on Form 10-K for the year ended December 31, 2024, and those set forth from time to time in Archrock’s filings with the Securities and Exchange Commission, which are available online at www.sec.gov and at www.archrock.com. Except as required by law, Archrock expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.

    For information, contact:

    Archrock, Inc.
    INVESTORS
    Megan Repine
    VP of Investor Relations
    281-836-8360
    investor.relations@archrock.com

    MEDIA
    Andrew Siegel / Jed Repko / Kara Grimaldi
    Joele Frank
    212-355-4449

    The MIL Network

  • MIL-OSI: T1 Provides Update from G1 Dallas

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas and NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) — T1 Energy Inc. (NYSE: TE) (“T1,” “T1 Energy,” or the “Company”) provided an update on the Company’s progress at its G1 Dallas solar module manufacturing facility in Wilmer, Texas.

    Highlights

    • On April 30th, T1 achieved term conversion of the G1 Dallas construction loan to a $235 million term loan in line with the previously communicated timeline
    • The conversion of the construction loan was conditioned upon third-party verification that construction, commissioning, and testing of all G1 Dallas production line equipment was complete
    • T1 produced 443 MW of PV solar modules at G1 Dallas during Q1 2025, equivalent to 96% of the Company’s production plan

    On April 30, 2025, the construction loan of the G1 Dallas solar module manufacturing facility converted to a $235 million term loan in accordance with the terms set forth by T1’s banking consortium of commercial lenders. The term conversion occurred following T1’s satisfaction of certain conditions precedent, including:

    • A formal acknowledgement by each of T1’s solar module offtake customers that facility commissioning had occurred;
    • Confirmation by Gray Construction, Inc. that substantial completion of G1 construction had occurred; and
    • Certification by an independent engineer that G1 Dallas, with a total annual production capacity of 5 GW, has been installed, tested, and is ready and capable of being used for its intended purposes in a safe manner.

    “The term conversion of the G1 Dallas construction loan is an important milestone for T1,” said Evan Calio, T1’s Chief Financial Officer. “With commissioning and third-party technical certification of the facility complete, G1 Dallas is now fully operational, and all production lines have been handed over to our operations team.”

    G1 Operations Update

    During Q1 2025, G1 Dallas produced 443 MW of PV solar modules while construction, commissioning, testing, and inspection of the production lines were ongoing, equating to 96% of T1’s Q1 production plan. In addition, T1 has elected to optimize the G1 product mix for prevailing market conditions by converting three production lines from PERC to TOPCon technology.

    About T1 Energy

    T1 Energy Inc. (NYSE: TE) is an energy solutions provider building an integrated U.S. supply chain for solar and batteries. In December 2024, T1 completed a transformative transaction, positioning the Company as one of the leading solar manufacturing companies in the United States, with a complementary solar and battery storage strategy. Based in the United States with plans to expand its operations in America, the Company is also exploring value optimization opportunities across its portfolio of assets in Europe.

    To learn more about T1, please visit www.T1energy.com and follow us on social media.

    Investor contact:

    Jeffrey Spittel
    EVP, Investor Relations and Corporate Development
    jeffrey.spittel@T1energy.com
    Tel: +1 409 599-5706

    Media contact:

    Amy Jaick
    SVP, Communications
    amy.jaick@T1energy.com
    Tel: +1 973 713-5585

    T1 intends to use its website as a channel of distribution to disclose information which may be of interest or material to investors and to communicate with investors and the public. Such disclosures will be included on T1’s website in the ‘Investor Relations’ section. T1, and its CEO and Chairman of the Board, Daniel Barcelo, also intend to use certain social media channels, including, but not limited to, X, LinkedIn, and Instagram, as means of communicating with the public and investors about T1, its progress, products, and other matters. While not all the information that T1 or Daniel Barcelo post to their respective digital platforms may be deemed to be of a material nature, some information may be. As a result, T1 encourages investors and others interested to review the information that it and Daniel Barcelo posts and to monitor such portions of T1’s website and social media channels on a regular basis, in addition to following T1’s press releases, SEC filings, and public conference calls and webcasts. The contents of T1’s website and its and Daniel Barcelo’s social media channels shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8a689f8d-4c71-4a98-84c8-7f2d331544d3

    The MIL Network

  • MIL-OSI USA: Chairmen Guthrie and Griffith Along with Vice Chairman Joyce and Reps. James and Obernolte Issue Statement on Passage of Bills to Stop California EV Mandates

    Source: United States House of Representatives – Congressman Jay Obernolte (R-Hesperia)

    WASHINGTON, D.C. – Today, Congressman Brett Guthrie (KY-02), Chairman of the House Committee on Energy and Commerce, and Congressman Morgan Griffith (VA-09), Chairman of the Subcommittee on Environment, along with other members of the Committee applauded the passage of three resolutions of disapproval under the Congressional Review Act to repeal disastrous electric vehicle (EV) mandates. 

    “The passage of these resolutions is a victory for Americans who will not be forced into purchasing costly EVs because of California’s unworkable mandates,”said Chairmen Guthrie and Griffith. “If not repealed, the California waivers would lead to higher prices for both new and used vehicles, increase our reliance on China, and strain our electric grid. The passage of these three resolutions will help to protect Americans from some of the worst policies of the Biden-Harris Administration. Thank you to Vice Chairman Joyce, Congressman James, and Congressman Obernolte for your work to ensure that families and businesses can continue choosing the vehicles they need.”

    “American consumers, not out-of-touch politicians, should decide what vehicle best fits their individual needs,”said Congressman John Joyce, M.D.“Since I arrived in Washington, I have led this fight to protect consumer freedom and save the American auto industry from dangerous environmental regulations. As this legislation takes its first step toward reaching President Trump’s desk, I urge my colleagues in the Senate to support this bill to save our auto industry and protect the freedom of the open road.”

    “Michigan is not afraid of the future, but we demand to be a part of it. The Biden Administration left behind comply-or-die Green New Deal mandates that threaten to crush our trucking industry and drive-up costs for hardworking Americans,” said Congressman James. “I know — my family has a trucking company. Republicans are working hard to implement President Trump’s America First Agenda, and the first step is repealing the rules and waivers that fueled Bideninflation.”

    “I’m proud that the House passed my resolution to stop California’s unworkable engine emission standards from becoming national policy,”said Congressman Obernolte. “These regulations would raise costs for consumers, crush small businesses, and threaten critical supply chains across the country. It is Congress’ job to ensure that one state’s overreach doesn’t dictate how all Americans live, work, or drive.”

    Read an Op-ed from Chairman Guthrie, Vice Chairman Joyce, Congressman James, and Congressman Obernolte on these resolutions here.

    Background:

    The Clean Air Act generally preempts individual states from setting their own vehicle emission standards. However, section 209 of the Clean Air Act allows the Environmental Protection Agency to waive state preemption for California. This carveout was intended to allow California to implement stricter air vehicle emission standards to address “compelling and extraordinary circumstances” involving local air pollution – not to remake the auto industry and limit consumer choice nationwide. 

    The Biden EPA granted these waivers that have allowed California to ban sales of new gas, diesel, and hybrid vehicles, as well as heavy-duty trucks, while also mandating 100% electric vehicle sales by 2035. With approval of these resolutions, Congress is exercising its important oversight responsibilities and reining in the regulatory overreach of the previous administration. 

    • H.J.Res. 88, led by Rep. John Joyce (PA-13), Vice Chairman of the House Committee on Energy and Commerce, will repeal California’s Advanced Clean Cars II (ACCII) waiver, allowing the State to ban the sale of gas-powered vehicles by 2035.
    • H.J.Res. 87, led by Rep. John James (MI-10), will repeal California’s Advanced Clean Trucks (ACT) waiver, which currently would allow the State to mandate the sale of zero-emission trucks.
    • H.J.Res. 89, led by Rep. Jay Obernolte (CA-23), will put an end to California’s implementation of its most recent nitrogen oxide (NOx) engine emission standards, which create burdensome and unworkable standards for heavy-duty on-road engines.

    ###

    MIL OSI USA News

  • MIL-OSI: Skyward Specialty Insurance Group Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) — Skyward Specialty Insurance Group, Inc. (Nasdaq: SKWD) (“Skyward Specialty” or the “Company”) today reported first quarter 2025 net income of $42.1 million, or $1.01 per diluted share, compared to $36.8 million, or $0.90 per diluted share, for the same 2024 period.

    Adjusted operating income(1) for the first quarter of 2025 was $37.3 million, or $0.90 per diluted share, compared to $31.0 million, or $0.75 per diluted share, for the same 2024 period.

    Highlights for the first quarter included:

    • Gross written premiums of $535.3 million, an increase of 16.7% compared to 2024;
    • Combined ratio of 90.5%;
    • Ex-Cat combined ratio of 88.3%;
    • Annualized return on equity of 20.5%; and,
    • Book value per share of $21.06, an increase of 6% compared to December 31, 2024.
    (1)See “Reconciliation of Non-GAAP Financial Measures”

    Skyward Specialty Chairman and CEO Andrew Robinson commented, “We delivered outstanding first quarter results, including adjusted operating income(1) which increased over 20% to $37.3 million, which is the best in Company history, and we achieved annualized return on equity of 20.5%. We continued our consistent and strong record of growth in underwriting performance as gross written premiums increased by approximately 17%, and we delivered a 90.5% combined ratio inclusive of 2.2 points of catastrophe losses. Our strong growth this quarter highlights the strength of our diversified business portfolio, with our global agriculture unit and our accident & health division each having a breakout quarter; we have highlighted these two areas as part of our intentional strategy to grow in areas less exposed to the P&C market.”

    “As we look out to the remainder of the year, we remain confident that the strength of our diversified business portfolio, the power of our Rule Our Niche strategy, our investment in technology and talent, and our track record for consistent execution, positions us to continue to deliver strong financial results that create long-term value for our shareholders.”

    Results of Operations

    Underwriting Results

    Premiums            
    ($ in thousands)   Three months ended March 31,
    unaudited     2025       2024     %
    Change
    Gross written premiums   $ 535,326     $ 458,620     16.7 %
    Ceded written premiums   $ (192,055 )   $ (171,520 )   12.0 %
    Net retention     64.1 %     62.6 %   NM (1)
    Net written premiums   $ 343,271     $ 287,100     19.6 %
    Net earned premiums   $ 300,366     $ 236,342     27.1 %
    (1)Not meaningful            
                 

    The increase in gross written premiums for the first quarter of 2025, when compared to the same 2024 period, was driven by double-digit premium growth primarily from the agriculture and credit (re)insurance, accident & health and specialty programs divisions, partially offset by a decrease in gross written premiums in the global property division.

    During the first quarter 2025, the Company updated its underwriting divisions to align with how management currently oversees the business, allocates resources and evaluates operating performance. The Company added a ninth division, Agriculture and Credit (Re)insurance, which includes the Global Agriculture unit, previously reported with Global Property, and the Mortgage and Credit units, and focuses on specialty classes for which reinsurance provides a more attractive market entry. The Industry Solutions division is now the Construction & Energy Solutions division and the Inland Marine unit is now included in the Transactional E&S division. Programs is now Specialty Programs. Prior reporting periods have been conformed to reflect the new presentation.

    Combined Ratio   Three months ended March 31,
    (unaudited)   2025   2024
    Non-cat loss and LAE   60.2 %   60.6 %
    Cat loss and LAE(1)   2.2 %   0.4 %
    Prior accident year development – LPT   0.0 %   (0.1) %
    Loss Ratio   62.4 %   60.9 %
    Net policy acquisition costs   14.8 %   13.6 %
    Other operating and general expenses   14.0 %   16.0 %
    Commission and fee income   (0.7) %   (0.9) %
    Expense ratio   28.1 %   28.7 %
    Combined ratio   90.5 %   89.6 %
    Ex-Cat Combined Ratio(2)   88.3 %   89.2 %
             
    (1)Current accident year
    (2)Defined as the combined ratio excluding cat loss and LAE(1)        
             

    The loss ratio for the first quarter of 2025 increased 1.5 points when compared to the same 2024 period, due to higher catastrophe losses, primarily from convective storms in the Midwest and the California wildfires. Partially offsetting the increase in the cat loss and LAE ratio was improvement in the non-cat loss and LAE ratio driven by the business mix shift.

    The expense ratio for the first quarter improved 0.6 points when compared to the same 2024 period due to earnings leverage partially offset by higher acquisition costs due to the business mix shift.

    The expense ratios for the first quarters of 2025 and 2024 exclude the impact of IPO related stock compensation and secondary offering expenses, which are reported in other expenses in our condensed consolidated statements of operations and comprehensive income.

    Investment Results

    Net Investment Income        
    $ in thousands   Three months ended March 31,
    (unaudited)     2025       2024  
    Short-term investments & cash and cash equivalents   $ 4,041     $ 5,088  
    Fixed income     16,730       12,478  
    Equities     657       627  
    Alternative & strategic investments     (2,097 )     104  
    Net investment income   $ 19,331     $ 18,297  
    Net unrealized gains on securities still held   $ 5,491     $ 8,991  
    Net realized gains (losses)     1,350       (688 )
    Net investment gains   $ 6,841     $ 8,303  
     

    Net investment income for the first quarter of 2025 increased $1.0 million when compared to the same 2024 period, driven by increased income from our fixed income portfolio due to a higher yield and larger asset base. Partially offsetting the increase in income from our fixed income portfolio were (i) losses from the alternative and strategic investments portfolio due to the decline in the fair value of limited partnership investments, and (ii) less income from short-term investments driven by a lower yield.

    Stockholders’ Equity

    Stockholders’ equity was $850.7 million at March 31, 2025 which represented an increase of 7.1% when compared to stockholders’ equity of $794.0 million at December 31, 2024. The increase in stockholders’ equity was primarily due to an increase in the market value of our investment portfolio and net income.

    Conference Call

    At 9:30 a.m. eastern time tomorrow, May 2, 2025, Skyward Specialty management will hold a conference call to discuss quarterly results with insurance industry analysts. Interested parties may listen to the discussion at investors.skywardinsurance.com under Events & Presentations. Additionally, investors can access the earnings call via conference call by registering via the conference link. Users will receive dial-in information and a unique PIN to join the call upon registering.

    Non-GAAP Financial Measures

    This release contains certain financial measures and ratios that are not required by, or presented in accordance with, generally accepted accounting principles in the United States (“GAAP”). We refer to these measures as “non-GAAP financial measures.” We use these non-GAAP financial measures when planning, monitoring, and evaluating our performance.

    We consider these non-GAAP financial measures to be useful metrics for our management and investors to facilitate operating performance comparisons from period to period. While we believe that these non-GAAP financial measures are useful in evaluating our business, this information should be considered supplemental in nature and is not meant to be a substitute for revenue or net income, in each case as recognized in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces their usefulness as comparative measures. For more information regarding these non-GAAP financial measures and a reconciliation of such measures to comparable GAAP financial measures, see the section entitled “Reconciliation of Non-GAAP Financial Measures.”

    About Skyward Specialty Insurance Group, Inc.

    Skyward Specialty is a rapidly growing and innovative specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through nine underwriting divisions – Accident & Health, Agriculture and Credit (Re)insurance, Captives, Construction & Energy Solutions, Global Property, Professional Lines, Specialty Programs, Surety and Transactional E&S. SKWD stock is traded on the Nasdaq Global Select Market, which represents the top fourth of all Nasdaq listed companies.

    Skyward Specialty’s subsidiary insurance companies consist of Great Midwest Insurance Company, Houston Specialty Insurance Company, Imperium Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A (Excellent) with stable outlook by A.M. Best Company. Additional information about Skyward Specialty can be found on our website at www.skywardinsurance.com.

    Forward-Looking Statements

    Except for historical information, all other information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are typically, but not always, identified through use of the words “believe,” “expect,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict,” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. The most significant of these uncertainties are described in Skyward Specialty’s Form 10-K, and include (but are not limited to) legislative changes at both the state and federal level, state and federal regulatory rule making promulgations and adjudications, class action litigation involving the insurance industry and judicial decisions affecting claims, policy coverages and the general costs of doing business, the potential loss of key members of our management team or key employees and our ability to attract and retain personnel, the impact of competition on products and pricing, inflation in the costs of the products and services insurance pays for, product development, geographic spread of risk, weather and weather-related events, other types of catastrophic events, our ability to obtain reinsurance coverage at prices and on terms that allow us to transfer risk and adequately protect our company against financial loss, and losses resulting from reinsurance counterparties failing to pay us on reinsurance claims. These forward-looking statements speak only as of the date of this release and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

    Skyward Specialty Insurance Group, Inc.

    Investor contact:
    Natalie Schoolcraft,
    nschoolcraft@skywardinsurance.com
    614-494-4988

    or

    Media contact:
    Haley Doughty
    hdoughty@skywardinsurance.com
    713-935-4944

    Consolidated Balance Sheets        
    ($ in thousands, except share and per share amounts)        
    (unaudited)   March 31,
    2025
      December 31,
    2024
    Assets        
    Investments:        
    Fixed maturity securities, available-for-sale, at fair value (amortized cost of $1,410,269 and $1,320,266, respectively)   $ 1,397,508     $ 1,292,218  
    Fixed maturity securities, held-to-maturity, at amortized cost (net of allowance for credit losses of $250 and $243, respectively)     37,519       39,153  
    Equity securities, at fair value     108,075       106,254  
    Mortgage loans, at fair value     16,012       26,490  
    Equity method investments     88,588       98,594  
    Other long-term investments     37,646       33,182  
    Short-term investments, at fair value     308,042       274,929  
    Total investments     1,993,390       1,870,820  
    Cash and cash equivalents     112,916       121,603  
    Restricted cash     40,590       35,922  
    Premiums receivable, net     417,542       321,641  
    Reinsurance recoverables, net     902,970       857,876  
    Ceded unearned premium     232,147       203,901  
    Deferred policy acquisition costs     126,439       113,183  
    Deferred income taxes     26,984       30,486  
    Goodwill and intangible assets, net     87,089       87,348  
    Other assets     90,566       86,698  
    Total assets   $ 4,030,633     $ 3,729,478  
    Liabilities and stockholders’ equity        
    Liabilities:        
    Reserves for losses and loss adjustment expenses   $ 1,871,491     $ 1,782,383  
    Unearned premiums     708,347       637,185  
    Deferred ceding commission     45,544       40,434  
    Reinsurance and premium payables     243,083       177,070  
    Funds held for others     113,748       102,665  
    Accounts payable and accrued liabilities     78,154       76,206  
    Notes payable     100,000       100,000  
    Subordinated debt, net of debt issuance costs     19,545       19,536  
    Total liabilities     3,179,912       2,935,479  
    Stockholders’ equity        
    Common stock, $0.01 par value, 500,000,000 shares authorized, 40,402,879 and 40,127,908 shares issued and outstanding, respectively     404       401  
    Additional paid-in capital     721,186       718,598  
    Accumulated other comprehensive loss     (10,047 )     (22,120 )
    Retained earnings     139,178       97,120  
    Total stockholders’ equity     850,721       793,999  
       Total liabilities and stockholders’ equity   $ 4,030,633     $ 3,729,478  
             
    Condensed Consolidated Statements of Operations and Comprehensive Income
    ($ in thousands)   Three months ended March 31,
    (unaudited)     2025       2024  
             
    Revenues:        
    Net earned premiums   $ 300,366     $ 236,342  
    Commission and fee income     1,976       2,026  
    Net investment income     19,331       18,297  
    Net investment gains     6,841       8,303  
    Other income     13        
    Total revenues     328,527       264,968  
    Expenses:        
    Losses and loss adjustment expenses     187,309       143,914  
    Underwriting, acquisition and insurance expenses     86,551       69,774  
    Interest expense     1,834       2,727  
    Amortization expense     337       388  
    Other expenses     1,061       1,188  
    Total expenses     277,092       217,991  
    Income before income taxes     51,435       46,977  
    Income tax expense     9,377       10,193  
    Net income     42,058       36,784  
    Comprehensive income:        
    Net income   $ 42,058     $ 36,784  
    Other comprehensive income:        
    Unrealized gains and losses on investments:        
    Net change in unrealized gains (losses) on investments, net of tax     12,255       (5,418 )
    Reclassification adjustment for losses on securities no longer held, net of tax     (182 )     (908 )
    Total other comprehensive income (loss)     12,073       (6,326 )
    Comprehensive income   $ 54,131     $ 30,458  
             
    Share and Per Share Data        
    ($ in thousands, except share and per share amounts)   Three months ended March 31,
    (unaudited)     2025       2024  
             
    Weighted average basic shares     40,196,416       39,108,351  
    Weighted average diluted shares     41,680,595       41,085,136  
             
    Basic earnings per share   $ 1.05     $ 0.94  
    Diluted earnings per share   $ 1.01     $ 0.90  
    Basic adjusted operating earnings per share   $ 0.93     $ 0.79  
    Diluted adjusted operating earnings per share   $ 0.90     $ 0.75  
             
    Annualized ROE(1)     20.5 %     21.7 %
    Annualized adjusted ROE(2)     18.2 %     18.3 %
    Annualized ROTE(3)     22.9 %     25.0 %
    Annualized adjusted ROTE(4)     20.3 %     21.1 %
             
        March 31   December 31
          2025       2024  
             
    Shares outstanding     40,402,879       40,127,908  
    Fully diluted shares outstanding     42,234,957       42,059,182  
             
    Book value per share   $ 21.06     $ 19.79  
    Fully diluted book value per share   $ 20.14     $ 18.88  
    Fully diluted tangible book value per share   $ 18.08     $ 16.80  
             
    (1)Annualized ROE is net income expressed on an annualized basis as a percentage of average beginning and ending stockholders’ equity during the period
    (2)Annualized adjusted ROE is adjusted operating income expressed on an annualized basis as a percentage of average beginning and ending stockholders’ equity during the period
    (3)Annualized ROTE is net income expressed on an annualized basis as a percentage of average beginning and ending tangible stockholders’ equity during the period
    (4)Annualized adjusted ROTE is adjusted operating income expressed on an annualized basis as a percentage of average beginning and ending tangible stockholders’ equity during the period


    Adjusted operating income
    – We define adjusted operating income as net income excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. We use adjusted operating income as an internal performance measure in the management of our operations because we believe it gives our management and other users of our financial information useful insight into our results of operations and our underlying business performance. Adjusted operating income should not be viewed as a substitute for net income calculated in accordance with GAAP, and other companies may define adjusted operating income differently.        

    ($ in thousands)   Three months ended March 31,
    (unaudited)     2025       2024  
        Pre-tax   After-tax   Pre-tax   After-tax
    Income as reported   $ 51,435     $ 42,058     $ 46,977     $ 36,784  
    Less (add):                
    Net investment gains     6,841       5,594       8,303       6,501  
    Net impact of loss portfolio transfer                 241       189  
    Other income     13       11              
    Other expenses     (1,061 )     (868 )     (1,188 )     (930 )
    Adjusted operating income   $ 45,642     $ 37,321     $ 39,621     $ 31,024  
                     


    Underwriting income
    – We define underwriting income as net income before income taxes excluding net investment income, net realized and unrealized gains and losses on investments, impairment charges, interest expense, amortization expense and other income and expenses. Underwriting income represents the pre-tax profitability of our underwriting operations and allows us to evaluate our underwriting performance without regard to investment income. We use this metric as we believe it gives our management and other users of our financial information useful insight into our underlying business performance. Underwriting income should not be viewed as a substitute for pre-tax income calculated in accordance with GAAP, and other companies may define underwriting income differently.

    ($ in thousands)   Three months ended March 31,
    (unaudited)   2025   2024
    Income before income taxes   $ 51,435   $ 46,977
    Add:        
    Interest expense     1,834     2,727
    Amortization expense     337     388
    Other expenses     1,061     1,188
    Less:        
    Net investment income     19,331     18,297
    Net investment gains     6,841     8,303
    Other income     13    
    Underwriting income   $ 28,482   $ 24,680
             


    Tangible Stockholders’ Equity
    – We define tangible stockholders’ equity as stockholders’ equity less goodwill and intangible assets. Our definition of tangible stockholders’ equity may not be comparable to that of other companies and should not be viewed as a substitute for stockholders’ equity calculated in accordance with GAAP. We use tangible stockholders’ equity internally to evaluate the strength of our balance sheet and to compare returns relative to this measure.

    ($ in thousands)   March 31,   December 31,
    (unaudited)   2025   2024   2024
    Stockholders’ equity   $ 850,721   $ 692,272   $ 793,999
    Less: Goodwill and intangible assets     87,089     88,137     87,348
    Tangible stockholders’ equity   $ 763,632   $ 604,135   $ 706,651
                 
        Three months ended March 31,
    ($ in thousands)   2025   2024   % Change
    Accident & Health   $ 63,169   $ 40,901   54.4 %
    Agriculture and Credit (Re)insurance     87,847     43,321   102.8 %
    Captives     68,401     68,408   %
    Construction & Energy Solutions     75,571     74,222   1.8 %
    Global Property     46,686     57,312   (18.5) %
    Professional Lines     41,166     42,239   (2.5) %
    Specialty Programs     62,675     52,178   20.1 %
    Surety     37,798     33,842   11.7 %
    Transactional E&S     52,006     46,232   12.5 %
    Total gross written premiums(1)   $ 535,319   $ 458,655   16.7 %
    (1)Excludes exited business            

    The MIL Network

  • MIL-OSI: Viper Energy, Inc. Announces Closing of Drop Down Transaction

    Source: GlobeNewswire (MIL-OSI)

    MIDLAND, Texas, May 01, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ: VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced that it and its operating subsidiary, Viper Energy Partners LLC (the “Operating Company”), have closed their previously announced acquisition of all of the equity interests in certain mineral and royalty interest-owning subsidiaries of Diamondback (the “Drop Down”). The total consideration for the Drop Down consisted of (i) $1.0 billion in cash and (ii) the issuance (the “Equity Issuance”) of 69,626,640 units representing limited liability company interests in the Operating Company and an equivalent number of shares of Viper’s Class B Common Stock, in each case, subject to transaction costs and certain customary post-closing adjustments.

    The mineral and royalty interests acquired by the Operating Company in the Drop Down represent approximately 22,847 net royalty acres in the Permian Basin, approximately 69% of which are currently operated by Diamondback. Viper funded the cash consideration for the Drop Down with (i) proceeds from its previously announced underwritten public offering of shares of its Class A Common Stock, completed on February 3, 2025, and (ii) borrowings under the Operating Company’s revolving credit facility. Immediately following the completion of the Drop Down, Diamondback beneficially owned approximately 53.7% of Viper’s outstanding voting common stock.

    The Drop Down was approved by Viper’s audit committee comprised of all independent directors and the full board of directors, in each case, on January 30, 2025, and by the majority of the Company’s stockholders, other than Diamondback and its subsidiaries, at the special meeting of the Company’s stockholders held on May 1, 2025 (the “Special Meeting”). At the Special Meeting, Viper’s stockholders also approved the Equity Issuance, as required under the rules of The Nasdaq Stock Market LLC.

    About Viper Energy, Inc.

    Viper is a corporation formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily the Permian Basin. For more information, please visit www.viperenergy.com.

    About Diamondback Energy, Inc.

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Forward-Looking Statements

    This news release contains “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, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper’s: future performance; business strategy; future operations; estimates and projections of operating income, losses, costs and expenses, returns, cash flow, and financial position; production levels on properties in which Viper has mineral and royalty interests, developmental activity by other operators; reserve estimates and Viper’s ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the Drop Down and other acquisitions or divestitures); and plans and objectives (including Diamondback’s plans for developing Viper’s acreage and Viper’s cash dividend policy and common stock repurchase program) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Viper are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Viper believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond its control. Accordingly, forward-looking statements are not guarantees of Viper’s future performance and the actual outcomes could differ materially from what Viper expressed in its forward-looking statements.

    Factors that could cause the outcomes to differ materially include (but are not limited to) the following: changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; the impact of public health crises, including epidemic or pandemic diseases, and any related company or government policies or actions; changes in U.S. energy, environmental, monetary and trade policies, including with respect to tariffs or other trade barriers, and any resulting trade tensions; actions taken by the members of OPEC and Russia affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments, including any impact of the ongoing war in Ukraine and the Israel-Hamas war on the global energy markets and geopolitical stability; instability in the financial sector; higher interest rates and their impact on the cost of capital; regional supply and demand factors, including delays, curtailment delays or interruptions of production on Viper’s mineral and royalty acreage, or governmental orders, rules or regulations that impose production limits on such acreage; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change and the risks and other factors disclosed in Viper’s filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the Securities and Exchange Commission’s web site at http://www.sec.gov.

    In light of these factors, the events anticipated by Viper’s forward-looking statements may not occur at the time anticipated or at all. Moreover, new risks emerge from time to time. Viper cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements made in this news release. All forward-looking statements speak only as of the date of this news release or, if earlier, as of the date they were made. Viper does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.

    Investor Contact:
    Chip Seale
    +1 432.247.6218
    cseale@viperenergy.com

    The MIL Network

  • MIL-OSI USA: King, Daines Introduce Bipartisan Bill to Preserve America’s Parks and Public Lands

    US Senate News:

    Source: United States Senator for Maine Angus King

    WASHINGTON, D.C. — U.S. Senators Angus King (I-ME) and Steve Daines (R-MT), leaders of the Senate National Parks Subcommittee, are introducing bipartisan legislation to strengthen and better manage public lands across the country. The America the Beautiful Act would reauthorize the National Parks and Public Land Legacy Restoration Fund (LRF) and increase its funding to address serious maintenance backlog and ensure that America’s public lands can be enjoyed for generations to come. 

    Senator King first introduced the bipartisan Restore Our Parks Act in July 2018 which established the “National Park Service Legacy Restoration Fund” to reduce the maintenance backlog by allocating existing revenues the government collects from on and offshore energy development. It was passed in the 2020 Great American Outdoors Act, but now requires reauthorization.

    “People travel from across the globe to experience the natural beauty of America’s public lands from Maine to Montana and across the nation,” said Senator King, Ranking Member of the Senate National Parks Subcommittee. “However, deferred repairs on aging infrastructure like roads and trails can become unsafe and diminish the visitor experience for those enjoying our public lands and National Parks. By addressing maintenance backlog and reauthorizing the Legacy Restoration Fund, the bipartisan America the Beautiful Act will help better protect our lands and the visitor experience. This is an important step forward in creating lasting protections for our public lands and continues to demonstrate that stewardship is not partisan.”

    “When President Trump signed my Great American Outdoors Act into law in 2020, it was the greatest conservation win for Montana and the entire country in 50 years. I’m proud to work with my colleagues to strengthen that win and protect our outdoor way of life for generations to come,” said Senator Daines, Chairman of the Senate National Parks Subcommittee. “The America the Beautiful Act will fund crucial projects and address maintenance backlogs, so that people can get outside and enjoy the natural beauty we’re lucky to have here in the U.S.” 

    “America’s parks are our legacy to uphold — and bold action is essential to fulfill that promise. The National Park Foundation applauds Senators Daines and King for their leadership in introducing bipartisan legislation to reauthorize the Legacy Restoration Fund,” said Jeff Reinbold, President and CEO of the National Park Foundation. “Since its establishment through the Great American Outdoors Act, this vital program has already delivered billions toward transformative infrastructure projects across our national parks. As we approach America’s 250th anniversary, reauthorizing this investment affirms a bold democratic ideal — that every generation deserves to experience our parks as we do today. We look forward to working with Congress to ensure these magnificent landscapes and historic sites can continue welcoming visitors for generations to come.”

    “We applaud the leadership of U.S. Senators Steve Daines (R-MT) and Angus King (I-ME) in reintroducing legislation to reauthorize the Legacy Restoration Fund. This proven, bipartisan investment keeps national parks running. The reauthorization of this bill will allow Acadia National Park to continue to make progress against a long list of needed projects that are essential for protecting resources and elevating the visitor experience. With nearly 4 million visits to Acadia in 2024 alone, and over 330 million to national parks nationwide, continued investment to maintain park infrastructure is critical,”  said Eric Stiles, President & CEO, Friends of Acadia.

    The America the Beautiful Act reauthorizes the LRF for through 2033 and increases funding to $2 billion per year to help address the maintenance backlog in national parks and public lands. Currently, the maintenance backlog for each agency is as follows:

    1. U.S. Park Service: $23.26 billion
    2. U.S. Forest Service: $8.695 billion
    3. U.S. Fish and Wildlife Service: $2.65 billion
    4. U.S. Bureau of Land Management: $5.72 billion
    5. U.S. Bureau of Indian Education: $804.5 million

    Senators Kevin Cramer (R-ND), Mark Warner (D-VA), Tim Sheehy (R-MT), and Jeanne Shaheen (D-NH) are original cosponsors of the America the Beautiful Act. The legislation is supported by over 40 public lands, conservation and recreation groups. 

    Read the bill text HERE and a one pager on the bill HERE.

    As a lifelong advocate for conservation and Chairman of the Energy and Natural Resources Subcommittee on National Parks, Senator King is among the Senate’s most prominent voices advocating for conservation. Senator King helped lead the passage the Great American Outdoors Act (GAOA) into law; the legislation that included the Legacy Restoration Fund (LRF). Because of his work, in 2020, Senator King was awarded the inaugural National Park Foundation (NPF) “Hero” Award. Since the creation of the LRF, Senator King has pushed park leaders to discuss funding maintenance efforts, maintaining a sufficient NPS workforce, and managing growing park visitation.

    Senator King’s work on this legislation is the culmination of more than four decades of work on land conservation efforts in Maine, including helping to establish the Land for Maine’s Future program in 1987 and supporting extensive conservation projects during his time as Governor. Under King’s leadership in his eight years as Maine governor, he put more Maine land under conservation than in the state’s 175 year history.

    MIL OSI USA News

  • MIL-OSI United Nations: Experts of the Committee on the Elimination of Racial Discrimination Commend Gabon on Special Contingent Composed of Indigenous Persons, Ask Questions on Treatment of Hausa Gabonese Population and Human Trafficking

    Source: United Nations – Geneva

    The Committee on the Elimination of Racial Discrimination today concluded its consideration of the tenth periodic report of Gabon, with Committee Experts commending the State on the establishment of a special contingent in the National Guard made up of indigenous persons, while asking questions on the treatment of the Hausa Gabonese population and steps taken to combat human trafficking.

    Régine Esseneme, Committee Expert and Country Rapporteur, said the Committee was informed that the President of the Transition, the current Head of State, had set up a special contingent in the National Guard composed of members of the indigenous peoples’ communities, with a view to protecting the environment, which was a commendable action.

    Ms. Esseneme asked about the situation of the Hausa Gabonese since their naturalisation as Gabonese citizens in 2015, in terms of facilitating their national integration? What measures were being taken to ensure effective access to birth registration for members of ethnic minorities and indigenous peoples and to ensure the issuance of official identity documents and passports, especially in remote areas?

    Bakri Sidiki Diaby, Committee Expert and Country Co-Rapporteur, asked what was the proportion of Gabonese nationals who were victims of trafficking? What were the main forms of trafficking found in Gabon? What was the profile of the perpetrators of human trafficking, their gender and their nationality? What were the measures for reparation and rehabilitation of victims of trafficking? What was being done by the State to prevent and combat trafficking in persons, including for the purpose of labour exploitation, sexual exploitation and domestic servitude, including of non-citizens, especially children?

    The delegation said the Hausa Gabonese benefitted the same as any other citizen who held Gabonese nationality. A naturalisation decree had been implemented which granted Gabonese nationality to all Hausa people living in the country at the time; this was around 1,000 people. Some people had tried to fall through the cracks and benefit from this decree without actually meeting the requirements, which had a negative impact on the administrative situation. The Ministry of Justice was currently verifying the validity of these documents.

    The delegation said in 2023, Gabon completed the procedure required for the State to be in a position to proactively identify cases of human trafficking by identifying irregular movements. The country was also collecting data in this regard, to identify trends and receive up to date information on this phenomenon in Gabon. Underground networks operated the trafficking of women and children, and irregular migration was the driving force behind this phenomenon. Gabon was working with Benin to find a solution to this issue. The State was fully committed to rolling out the project to have practical solutions to these issues, including police investigations into these cases.

    Introducing the report, Paul-Marie Gondjout, Minister of Justice, Keeper of the Seals of Gabon and head of the delegation, apologised for the late submission of the report, which should have been submitted more than 20 years ago. Since the “ coup of liberation” of 30 August 2023, the country had been engaged in a democratic transition process under the aegis of the President of the Transition. Structured around profound institutional reforms, this inclusive process had laid the foundations for more transparent and democratic governance. A new Constitution was adopted in December 2024, which brought substantial innovations in governance; and the Electoral Code adopted in January 2025 introduced greater involvement of electoral observers, two seats of deputies for the Gabonese diaspora, and the guarantee of the right to vote for incarcerated citizens.

    In concluding remarks, Ms. Esseneme congratulated Gabon for the multi-sectoral approach taken to the dialogue, which had been productive and fruitful. Gabon was urged to do its utmost to implement the recommendations contained in the concluding observations, to ensure ongoing collaboration with the Committee.

    Mr. Gondjout, in his concluding remarks, thanked the Committee for the constructive and respectful exchange which had taken place. Gabon would continue engaging with the Committee and looked forward to the concluding observations and follow-up. It would respond within the timeframes indicated.

    The delegation of Gabon consisted of representatives of the Transitional National Assembly; Ministry of the Interior; Ministry of Health; Ministry of Energy and Water Resources; Ministry of Women and Child Protection; Ministry of National Education; Directorate of Human Rights Protection; Directorate of Criminal Affairs; Directorate of Equal Opportunities; Labour Inspectorate; Central Directorate of Financial Affairs; Directorate of Documentation and Immigration; Immigration Task Force; and the Permanent Mission of Gabon to the United Nations Office at Geneva.

    The Committee will issue its concluding observations on the report of Gabon after the conclusion of its one hundred and fifteenth session on 9 May. The programme of work and other documents related to the session can be found here . Summaries of the public meetings of the Committee can be found here , while webcasts of the public meetings can be found here .

    The Committee will next meet in public on Thursday, 1 May at 3 p.m. to consider the combined eleventh and twelfth periodic reports of Kyrgyzstan (CERD/C/KGZ/11-12).

    Report

    The Committee has before it the tenth periodic report of Gabon (CERD/C/GAB/10).

    Presentation of Report

    PAUL-MARIE GONDJOUT, Minister of Justice, Keeper of the Seals of Gabon and head of the delegation , apologised for the late submission of the report, which should have been submitted more than 20 years ago. It covered the period from 1999 to 2021 and was drafted in an inclusive, participatory process. Since gaining sovereignty, Gabon had promoted equal dignity among all citizens by prohibiting any distinction of race, origin or religion. The country had made the fight against all forms of discrimination one of the priorities in its resolute commitment to building a State governed by the rule of law that respected and protected human rights and guaranteed access to rights for all.

    Since the “ coup of liberation” of 30 August 2023, the country had been engaged in a democratic transition process under the aegis of the President of the Transition. Structured around profound institutional reforms, this inclusive process had laid the foundations for more transparent and democratic governance. A new Constitution was adopted in December 2024, which brought substantial innovations in governance; and the Electoral Code adopted in January 2025 introduced greater involvement of electoral observers, two seats of deputies for the Gabonese diaspora, and the guarantee of the right to vote for incarcerated citizens. The presidential election was held on 12 April, which would be followed on 3 May by the inauguration of the President of the Republic, thus putting an end to the transition. Transitional authorities had taken determined action to periodically update the legislative arsenal to bring it into line with ratified international treaties.

    Statistical data was a major challenge for Gabon. To address this, the Directorate General of Statistics had set up a technical body to carry out the seventh national census, which would provide data on age, gender, ethnicity, nationality and language spoken for the total population, indigenous peoples, ethnic minorities and migrants, as well as information on employment, income level and social protection. The project for the harmonisation and improvement of statistics in West and Central Africa was providing financing of statistical activities between 2025 and 2029, ensuring the production of reliable and regularly updated statistics.

    The Convention was directly applicable in Gabon and took precedence over national laws. To raise awareness of the Convention, several initiatives were implemented during the reporting period, from capacity-building workshops to the dissemination of multilingual communications. In various training schools, the Convention was presented in the module on human rights.

    No Gabonese text defined racial discrimination in the same terms as those in article one of the Convention. However, the Constitutions of 1991 and 2024 had adopted and enshrined the main principles of article one, targeting discrimination based on race, colour, national or ethnic origin and covering several sectors of the population. The Constitution also enshrined the equality of citizens before the law and the courts and the presumption of innocence for accused persons. The Government envisaged developing a national plan of action to combat racial discrimination and related intolerance in the coming year. Training sessions on the issue had been organised and a committee had been set up to develop a draft.

    A law on the reorganisation of the National Human Rights Commission was promulgated in November 2024. The process of re-establishing the institution would be completed in the coming weeks after the selection of the commissioners by the Bureau of the National Assembly. Premises for the Commission were made available in 2014, and it had recruited staff since 2012. Its budget has increased from 12,000,000 CFA francs in 2016 to 592,000,000 in 2025.

    During the period under review, measures were taken to ensure that the Criminal Code and other legislation complied with the Convention. State laws prohibited and penalised acts of racial, religious and ethnic discrimination and regionalist propaganda; secular or religious associations that provoked hatred between ethnic groups; and the dissemination, including online, of racist hate speech, which constituted an aggravating circumstance.

    The High Authority for Communication had imposed sanctions on media outlets on several occasions, but no decision condemning hate speech had been handed down by courts to date. A digital campaign entitled “Gabon against hate” was launched in December 2023 to educate citizens on the dangers of hate speech and disinformation, and in December 2024, the Government organised a workshop on the Central African strategy and action plan for the prevention and response to hate speech and incitement to violence, which led to the drafting of a national action plan.

    The new Constitution recognised civil society organizations as a part of pluralist and participatory democracy. A bill was also submitted in September 2024 on the protection of human rights defenders. Civil society organizations, including the network of human rights defenders, were strongly involved in the transition process, both in the Government and in Parliament.

    To align legislation on migrants with international standards, Gabon prepared a draft law establishing rules governing the admission and residence of foreigners in the Republic. The Government planned to integrate the issue of migrants into the curricula of training schools, particularly at the National School of the Judiciary and the National Police Academy, which also had a module on trafficking in persons.

    Gabon had made commitments at international, regional and national levels to combat trafficking in persons through local initiatives and partnerships with international actors. In 2023, the State party created a commission that was mandated to strengthen the capacities of actors addressing trafficking and establish coordinated mechanisms for the identification, care and protection of victims in each province. In addition, a proposed strategy and action plan on trafficking for the period 2025-2029 would implement actions to prevent the phenomenon, protect victims and prosecute perpetrators.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur , extended warm congratulations to the elected President of the Republic, Brice Oligui Nguema. She said the Committee had considered Gabon’s last report in 1998 in the absence of a delegation. The State submitted its next report 26 years late in 2024. The report did not provide sufficient information on the implementation of the Committee’s previous concluding observations. However, Ms. Esseneme congratulated the State party on significant developments that had been made in the legal and institutional framework, particularly the prohibition of hate speech.

    Gabon’s new Constitution of 2024 did not contain all the grounds of discrimination provided for in article one of the Convention, including skin colour, national origin and ancestry. Was this Constitution currently in effect? By what mechanism could the Convention be invoked before national courts? Could the delegation give examples of court cases in which Convention provisions had been applied? Were there plans to adopt comprehensive anti-discrimination legislation in line with the Convention? Gabon’s Common Core Document dated from 1998 and did not contain precise information on equality and non-discrimination. Were there plans to update it?

    Was there any legislation in the State party explicitly prohibiting racial profiling by police? Gabonese police reportedly carried out racial profiling checks and extorted foreigners staying in Gabon, demanding sums of money from them that varied depending on whether they held a residence permit. What measures were envisaged to prevent, prohibit and expressly punish racial profiling?

    Was the Government drafting a new Criminal Code that incorporated all the provisions of article four of the Convention? Since the events of 30 August 2023, there had reportedly been a rise in racist hate speech against Gabonese of foreign origin, including the Hausa Gabonese group, and foreigners. What measures had the State party taken to counter this hate speech? Had the Prosecutor’s Office received cases of discriminatory acts against Hausa Gabonese?

    The situation seemed to have deteriorated since the presidential election. Some 500 vehicles belonging to non-nationals employed in a private scheme for disadvantaged people had been seized and impounded. Could the State party provide an update on this case, which appeared to amount to racially motivated violence?

    Did Gabon’s law hold persons from a dominant group to account when they destroyed the property of or committed violence against a member of a minority group? What measures were in place to improve the reporting and monitoring of racist hate crimes and hate speech? What progress had been made through the “Gabon against hate” campaign?

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, called for data on the demographic composition of the population based on self-identification, disaggregated by ethnic origin; data on migrants, refugees, asylum seekers and stateless people; and disaggregated economic and social indicators on the different groups living in the territory, in particular minority groups? The Committee was concerned about the State’s general lack of disaggregated data, including on ethnicity, needed to monitor progress on human rights and inform policymaking. How was the State addressing this? Did it plan to establish a comprehensive data collection and reporting system that would provide insight into racial discrimination, socio-economic inequalities and implementation of the Convention?

    Responses by the Delegation

    The delegation apologised for Gabon’s lateness in submitting the report. The State party was fully committed to working with the Committee. The transitional authorities sought to fulfil the country’s international obligations.

    The Constitution reflected the principles of the Convention, even though it did not reproduce its provisions word for word. There had been no complaints submitted to courts on racial discrimination. The President would take office in three days’ time, when the new Constitution would enter into force.

    The Convention had supremacy over all domestic laws, and when there were Convention provisions that were contrary to the Constitution, the Constitutional Court could recommend amendments to the Constitution. The Criminal Code was last revised in 2020 and Gabon was engaging in work to further revise the Code to formalise within it all elements of article one of the Convention.

    Police officers apprehended persons based on the acts that they conducted. They did not consider persons’ racial or ethnic identity; State law prohibited racial profiling. The Government worked to promote unity between different ethnic groups and ensure that hate speech did not gain ground.

    Data on ethnic origin was not collected in the previous census of 2013, though data on nationality was. The next census would collect data on age, gender, ethnic origin and languages spoken. The Government had undertaken a project to reform the national statistics system, which aimed to provide more resources to the national statistics institute and to establish officers on statistics in each ministerial department, who would collect data on the implementation of the Convention.

    Last year, a leader of a political party made a statement against an ethnic group; investigations into this incident were ongoing. The State party embraced the Hausa Gabonese and other populations of foreign origin, promoting their integration into society. It sought to resolve institutional friction to ensure such integration. It was not aware of reports of seizing of non-nationals’ vehicles.

    Follow-Up Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, asked whether the President would need to approve legislation to bring the new Constitution into force. What happened when constitutional or domestic legal provisions ran counter to international norms? Did victims need to lodge complaints related to hate speech for criminal investigations to start? Did the law on the protection of personal data include measures to prevent racial profiling?

    A Committee Expert said the Committee was very pleased to see the delegation of Gabon after nearly a quarter-century and looked forward to continued dialogue with the State. In 2011, a law was implemented that addressed ritualistic crimes against children. What measures had the State party taken to protect children from these crimes? How many children were affected by such crimes?

    Responses by the Delegation

    The delegation said the new Constitution was in force, but its content on ceasing the transitional process was not applicable immediately. The Constitutional Court assessed new laws to ensure that they were aligned with the Convention and the Constitution. It informed the Government when laws contained provisions that did not align with the Convention and called for their revision.

    The Higher Authority on Communication could suggest administrative sanctions against media agencies that disseminated hate speech.

    There were no legal provisions that specifically referred to “ritualistic crimes”, but there were provisions punishing related acts, such as murder and removal of vital organs, as aggravated crimes.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, said Gabon had not adopted a plan of action to combat racial discrimination. What measures had the State party taken to develop such a plan and implement the Durban Programme of Action, and what results had it obtained?

    The National Human Rights Commission was reorganised in November 2024. Had the State party applied for accreditation from the Global Alliance of National Human Rights Institutions? The Commission received and examined complaints from individuals and victims. What was the procedure for this, and how many complaints had it examined, including related to racial discrimination? How was the Commission raising awareness about human rights protections? The Commission’s financial resources had been significantly increased; the Committee hoped that this would strengthen the Commission’s ability to combat racial discrimination.

    The registration procedure for non-governmental organizations was reportedly very expensive and inconsistent, which discouraged organizations from carrying out their activities. The Committee had not received any alternative report from civil society. How was the State party encouraging this? What progress had been made in establishing a consultation framework between the State and civil society, and in developing a law on human rights defenders? Human and environmental rights defenders in the country were highly vulnerable to abuses and reprisals, including women, farmers and indigenous peoples fighting against deforestation. What measures were being taken to ensure the protection of human rights defenders who fought against racial discrimination and defended indigenous peoples and migrants?

    The Committee welcomed that the State automatically appointed a lawyer to accused persons who could not afford one, and that such persons benefitted from the presumption of innocence. How many persons had benefitted from legal aid in the last two years, including persons from ethnic minorities?

    What continuous training or awareness raising activities were being carried out for the judiciary, law enforcement officials and the public on human rights, international human rights treaties, non-discrimination and minority rights? Did training on human rights for security and defence forces address the Convention? What measures had been implemented to support the filing of complaints and claims for redress in cases of racial discrimination, particularly for ethnic minorities, indigenous peoples and non-citizens? Victims often struggled to prove that they had been discriminated against when perpetrators held positions of authority. Did the State party intend to introduce a reversal of the burden of proof in favour of victims of discrimination? How would the State bring the administration of justice closer to rural areas inhabited by indigenous peoples, and remove obstacles related to linguistic diversity?

    What progress had been made on introducing human rights education into school curricula and higher education? Did curricula address the Convention, combatting racial discrimination, and the history, culture and traditions of the different ethnic groups and indigenous peoples? What difficulties did the State party encounter in promoting education on national languages? Were there any community radio stations in the State party where information was disseminated in local languages and indigenous languages such as Baka? What programmes were in place to promote ethnic cultures and traditions and social cohesion?

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, said the new Constitution stipulated that citizens’ gatherings, demonstrations or parades in public spaces needed to be authorised under the conditions provided for by law. This seemed to restrict freedom of assembly and contradict 2017 legislation calling only for a declaration of planned gatherings. Why had this regressive change been made? How would the State party bring its rules on freedom of assembly in line with international standards? Were remedies available for persons whose demonstrations had been banned?

    In February 2021, tear gas and grenades were used in Libreville and Port Gentil to disperse a crowd demonstrating in opposition to the restrictions imposed during the COVID-19 pandemic. What justified this use of public force? Had investigations been carried out to establish responsibility? Could legislation on assembly be used to restrict private meetings? What measures had the State party adopted to ensure that indigenous peoples, ethnic minorities and non-citizens could exercise their right to freedom of assembly without discrimination, including at demonstrations in opposition to infrastructure projects or calling for protection of the environment and natural resources?

    FAITH DIKELEDI PANSY TLAKULA, Committee Expert and Follow-Up Rapporteur , said she was encouraged by the State’s desire to strengthen its institutions. How were the members of the National Human Rights Commission appointed and to whom were they accountable? The State party had not ratified the African Charter on Democracy, Elections and Governance. Did it plan to do so?

    Responses by the Delegation

    The delegation said that the National Human Rights Commission would apply for accreditation with the Global Alliance of National Human Rights Institutions. Funding for the Commission had increased exponentially. Legislation on the re-establishment of the Commission was in line with the Paris Principles; it had been developed with the Office of the High Commissioner for Human Rights. There had not been any complaints of racial discrimination submitted to the Commission yet. The State party would work to raise awareness of the Commission’s complaints mechanism.

    The Commission and civil society were involved in drafting the State party’s reports to treaty bodies. Civil society had submitted alternative reports to the Human Rights Committee, and training had been provided to civil society on preparing such reports. Reports that the procedure for creating non-governmental organizations was onerous were false. There were no costs associated with creating such organizations in Gabon.

    Gabon sought to rebuild its institutions based on justice. It had set up a legal aid office, which provided legal aid to vulnerable persons, and sought to strengthen this system and make it accessible throughout the country. There was no discrimination in the provision of legal aid. All plaintiffs appearing before a criminal court needed to be represented by a lawyer. The State party would consider revising the Criminal Code to reverse the burden of proof for cases involving racial discrimination.

    The new Constitution enshrined the principles of freedom of expression and assembly for all citizens. Legislation set up a system of declaration for public demonstrations; there was no authorisation system. Individuals who had been banned from holding demonstrations could file administrative appeals and appeals with the courts. There were no barriers to the freedom of expression in Gabon.

    Human rights education was part of the Gabonese civic education programme from primary level onwards. There had been an initiative to bolster this programme and to provide human rights education in vocational training institutions. Teaching on national languages was provided in religious establishments, and there were plans to include national language education in the general primary and secondary curricula.

    The new members of the National Human Rights Commission would be appointed by an ad-hoc committee within the National Assembly through a transparent process that ensured appropriate geographic balance. These members would be standing, independent members. Members’ reports would be sent to relevant institutions for follow-up.

    Initial training for members of the magistracy included a module on human rights, and ongoing training was provided on certain issues, for example concerning migrants and trafficking.

    Questions by a Committee Expert

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, asked which groups in Gabon self-determined as national minorities, even though the State declared it did not grant them legal status? What was the situation of the Hausa Gabonese since their naturalisation as Gabonese citizens in 2015, in terms of facilitating their national integration? According to information received by the Committee, the State was struggling to issue birth certificates and national identity cards to ethnic and indigenous minorities. What measures were being taken to ensure effective access to birth registration for members of ethnic minorities and indigenous peoples and to ensure the issuance of official identity documents and passports, especially in remote areas?

    It was reported that in 2022, people returning from holidays, whose surnames sounded foreign, had had their passports taken away by border police officers, and they had to go and collect them and justify their Gabonese nationality. What was at the origin of this search for the original “Gabonness” that seemed to be coming back in force since the events of August 2023? What was the State party doing to ensure social cohesion in these circumstances?

    How many members of the indigenous peoples’ communities held positions of responsibility in the central and local State administration? What measures were being taken to strengthen the political and administrative capacities of the members of these communities for better representation? What was the proportion of women, and particularly women from indigenous peoples and the Hausa Gabonese minority, in elective and decision-making positions in the civil service? Did it mean the State would prefer to appoint a less qualified man to a senior job in the State rather than a highly qualified woman, if the 30 per cent quota for women was reached? What measures had the State party taken to prevent and combat racial discrimination in the workplace, as well as abusive practices and labour exploitation, in particular against indigenous peoples and other minorities?

    From the report, it appeared the State party was made up of the Baka, Babongo, Bakoya, Baghame, Barimba, Akoula and Akwoa ethnic groups that were settled in different regions of Gabonese territory. What were the legal and institutional frameworks, as well as policies and programmes established for the promotion and protection of the specific rights of these indigenous peoples? What measures had been taken to enable indigenous peoples to enjoy genuine equality of opportunity and treatment with other members of the population? How many indigenous peoples were there in Gabon?

    What mechanism had been implemented to conduct prior consultations to obtain the free and informed consent of the indigenous peoples concerned by projects, including the deployment of fibre optics, and to involve them in their implementation? Was there a permanent framework for cooperation with community leaders or associations that represented these populations? Who were the ethnic groups of the indigenous inhabitants of the 26 villages concerned by the development project, being conducted with the United Nations Children’s Fund?

    The Committee was informed that the President of the Transition, the current Head of State, had set up a special contingent in the National Guard composed of members of the indigenous peoples’ communities, with a view to protecting the environment, which was a commendable action. It was hoped this would not be an isolated act.

    According to available information, entire villages populated by indigenous communities had been displaced without prior consent for mining projects in Bakoumba, and had been relocated to undesirable and polluted areas, with no action taken by the authorities to follow up on the complaints of those affected by the pollution. Could information on this situation be provided? What measures were being taken to ensure the right of indigenous peoples to own, develop, control and use the lands, resources and community territories that they traditionally occupied or used? What tools did the Government use to promote equal opportunities in education and training? How were the specific needs of indigenous peoples taken into account? Did pre-primary and primary education include the teaching of mother tongue languages?

    The Gabonese Government had adopted a commendable housing policy with the home savings plan put in place since March 2019. However, a World Bank report from 2020 revealed that more than one in two households did not have access to decent housing. What was the real situation in terms of housing? Could information be provided on the poverty rate among indigenous peoples and other minorities and their access to basic services?

    The education system had specialised facilities for children with hearing impairments, including those belonging to indigenous peoples and other minorities. What was the situation of the education of other children with special needs, such as autistic children, considered in some societies to be evil or sorcerous children? Given that some 50 national languages were spoken in Gabon, what languages were used within the media and what methodology was used to choose these languages? Were there programmes in the Baka and Koya languages that were spoken by indigenous peoples? What measures had been taken to promote the dissemination of and respect for the traditions and culture of the different ethnic groups in Gabon, and to protect indigenous languages, such as Baka and Koya?

    Responses by the Delegation

    Regarding the Hausa whose passports were removed if their names sounded foreign, the delegation said there were people who had not been careful to keep up with the administrative situation in the country in which they lived. They may not see the importance of having birth and identity documents. This meant today, when the State was focused on restoring its institutions, these matters came to the surface. There had been some confusing situations which arose because many people had held fake documents for a long time before. The Government was looking into this issue as a matter of national security.

    Members of the Hausa population benefitted the same as any other citizen who held Gabonese nationality. A naturalisation decree had been implemented which granted Gabonese nationality to all Hausa people living in the country at the time; this was around 1,000 people. Some people had tried to fall through the cracks and benefit from this decree without actually meeting the requirements, which had a negative impact on the administrative situation. The Ministry of Justice was currently verifying the validity of these documents.

    It was true that there were more women than men in Gabon. However, when it came to elections, not many women wanted to participate in political life, and the State wanted to change this. This was why legislation had been developed which established quotas; this aimed to be positive discrimination for women. The quotas intended to encourage more women to become involved in political life at the local and national level. The 30 per cent minimum quota was in place for all political parties, with the requirement that 30 per cent of all candidates should be women. The State also aimed to encourage more young people and persons with disabilities to become involved in political life.

    Indigenous peoples were included in Gabon’s social protection coverage. They were covered by the social protection system and received unemployment and health benefits. The 26 villages covered by the support programme were villages with people from Baka, Bango and other groups. Work was done with pregnant women to ensure neonatal services were provided, especially in remote parts of the country where many indigenous groups lived. The State had set up a centre for autistic children and aimed to roll this out to other parts of the country.

    In 2016, a programme was launched to combat all forms of discrimination in employment, healthcare and education, and other areas of public life. The State sought to support all levels of society in Gabon through this programme, which covered indigenous peoples, women and other vulnerable groups. All programmes were intended to promote equality of opportunity for all. Indigenous peoples, regardless of where they were located in the country, could benefit from State programmes.

    In Gabon, there was an observatory which focused on the issue of equality and undertook various studies, including a recent one on the equality of opportunity for indigenous peoples in Gabon. On the basis of this study, an action plan had been developed, with policies to be rolled out to address the situation of indigenous peoples in the country. The most recent census had enabled the State to identify 15,000 persons with disabilities who needed additional support, and actions relating to education and health were carried out in this regard. Gabon was on the right track in terms of indigenous peoples, as the State was pursuing inclusive policies, taking into account all persons on the territory of the country.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, said several questions had not been answered, namely on the languages used in the media; the use of land by indigenous peoples; and the medicinal practices of indigenous peoples. There had been a case where indigenous peoples were forcibly removed from their village and transported to polluted areas; could this be addressed? Was it correct that the 30 per cent quota was a minimum? If there was a list of candidates which did not reach the minimum threshold, was it then rejected? Was the State considering an individualised approach to the Hausa Gabonese?

    A Committee Expert asked if the State looked at issues which might be particularly harmful to indigenous peoples, and then adopted policies and programmes to address these issues?

    Another Committee Expert asked what members of the delegation meant when they said they did not recognise minorities as a legal concept? Did this mean these minorities did not qualify for legal protection?

    An Expert asked if the State had investigated what held women back from applying for election posts?

    A Committee Expert said Gabon had last reviewed the Constitution in 2011. How had Gabon addressed the issues of discrimination in education?

    Responses by the Delegation

    The delegation clarified that Gabon had a brand-new Constitution. The law on data protection stated that it was prohibited to collect or process any data which revealed the racial or ethnic background of an individual, their political or religious views, and data related to their sex life or health, among other points. The profiling of children was strictly prohibited, except when strictly necessary. Personal data could be accessed on the grounds of State security defence. When the police were carrying out controls or checks, they treated all passengers in stopped vehicles the same; everyone was asked to show their identity documents.

    When the 30 per cent quotas were not achieved, steps were taken to encourage favourable treatment for women, by ensuring a male and female alternance for candidates in electoral lists, to achieve the 30 per cent representation. This was a “carrot rather than stick” approach. Women were being encouraged to overcome cultural blocks and stand for leadership roles. A workshop had been held last week which sought to address the grassroot social issues, including that women were typically viewed as homemakers and housewives. The quota law aimed to break these traditional mindsets.

    Gabon had enacted specific measures, including the law on persons with disabilities, which mandated that education was compulsory for all children with disabilities. Education was compulsory by law for all children between ages three and 16 in Gabon. A forum was organised in 2019 on the implementation of inclusive education. New schools being built were required to meet accessibility standards, to ensure free and easy access for children with motor disabilities.

    The relocation of individuals in certain areas had been required, but the fact that they were relocated to polluted areas was refuted. Some people had to accustom themselves to living in a new location, but it was the sovereign right of the State to ensure they could tap their resources for the overall benefit of the country. More information about the claims would be appreciated. There were community radio stations which broadcast programmes in local indigenous languages.

    Questions by Committee Experts

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, said there had been no shadow report received from Gabonese civil society. The information regarding the relocation of indigenous peoples had been received by the Committee members which was why they asked the question. State sovereignty should not be used against the population, but rather for their wellbeing.

    What measures had been adopted, including special measures or affirmative action measures, with a view to combatting inequalities and multiple forms of discrimination, including racial discrimination, with regard to ethnic minorities and indigenous peoples, such as the Baka, Babongo, Bakoya, Baghame, Barimba, Akoula and Akwoa? To what extent did the 2018 national strategy to combat gender-based violence and the law on the elimination of violence against women take into account the specific needs of indigenous girls and women? What other measures had been adopted to address the multiple and intersecting forms of discrimination faced by women belonging to ethnic minorities, indigenous peoples, and other vulnerable groups?

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, said law no. 5/86, establishing the regime for the admission and residence of foreigners in the Gabonese Republic, provided for severe fines and imprisonment for foreigners in an irregular situation, which considerably reduced the scope of protection for persons who arrived in Gabon irregularly or those already in Gabon in need of international protection. What measures had been taken by the State party to harmonise its national legislation, including this law, with international obligations, in particular to decriminalise irregular migration? What measures had been adopted to prevent and combat racial discrimination and xenophobia against migrants, asylum seekers, refugees and stateless persons, and to facilitate the integration of non-citizens?

    What measures had been adopted by the State party to ensure that the practical application of the policy of “Gabonisation” of employment did not lead to cases of discrimination in hiring and dismissal on the basis of race, colour, descent or national or ethnic origin? According to a provision within the refugee act, the majority of refugees in Gabon lived with families. What was the profile of these families? How was the legal integration of refugees carried out? What were the socio-demographic, spatial and legal-administrative characteristics of the descendants of refugees in Libreville? Clear procedures were needed to ensure the prompt identification of persons seeking international protection at land borders and arrivals by sea; what measures were being taken in this regard? What had been done to strengthen the National Commission for Refugees?

    The Committee had been told that asylum seekers remained excluded from the national medical insurance scheme and did not have access to medical services pending a decision on their refugee status. What steps had been taken to extend primary health care to asylum seekers who were awaiting a final decision on their refugee status? What efforts had the Gabonese Government made to develop and implement a statelessness determination procedure? The Committee had been informed that many foreigners were forced by the administrative services to add so-called “Gabonese” surnames to their surnames, which discouraged some parents of children born in Gabon from finalising the procedures for obtaining Gabonese nationality or identity documents; what measures had been taken to address these situations?

    What was the proportion of Gabonese nationals who were victims of trafficking? What were the main forms of trafficking found in Gabon? Did forced labour include domestic servitude, commercial exploitation and sexual exploitation? What was the profile of the perpetrators of human trafficking, their gender, and their nationality? How many cases had been prosecuted and convicted? What were the measures for reparation and rehabilitation of victims of trafficking? What was being done by the State to prevent and combat trafficking in persons, including for the purpose of labour exploitation, sexual exploitation and domestic servitude, including of non-citizens, especially children? Had appropriate resources been allocated to the National Commission for the Prevention and Combatting of Trafficking in Persons to enable it to carry out its mandate?

    Responses by the Delegation

    The delegation said a guide had been produced to inform people on how to tackle different forms of violence, including sexual violence, and how to support victims. A specific programme had been developed for indigenous children with nomadic lifestyles. Gabon provided support to refugees and asylum seekers as required. The right to health was recognised as a universal human right. Those in an irregular situation received healthcare regardless of their status.

    There was a small number of cases of irregular migration in Gabon today. In recent years, it was ensured that migrants in an irregular situation had been provided with documents and put into a regular situation.

    In 2023, Gabon completed the procedure required for the State to be in a position to proactively identify cases of human trafficking by identifying irregular movements. The country was also collecting data in this regard, to identify trends and receive up to date information on this phenomenon in Gabon. Transnational networks existed, operating by both land and sea. Underground networks operated trafficking of women and children, and irregular migration was the driving force behind this phenomenon. Gabon was working with Benin to find a solution to this issue. The State was fully committed to rolling out the project to have practical solutions to these issues, including police investigations into these cases. Trafficking was a transnational problem, and it was important to go back to the country of origin.

    Everyone in Gabon enjoyed the right to freedom of assembly. Indigenous peoples were dealt with on an equal footing, the same way as other citizens in Gabon. They were appropriately supported if they wished to establish associations. If the laws on equal treatment were not respected, appropriate penalties would be handed down.

    Legislation established the National Commission for the Prevention of Human Trafficking in Gabon. The Commission spearheaded a national strategy to counter trafficking. Gabon was a party to the 1951 Geneva Convention on Refugees. An appeals mechanism existed for those who were not satisfied with their asylum decision. There were no refugee camps in Gabon; refugees and asylum seekers shared the same schools and hospitals as Gabonese citizens. A refugee held the same rights as a Gabonese citizen. A refugee card was issued and gave access to many of the same rights as an identity card.

    BAKRI SIDIKI DIABY, Committee Expert and Country Co-Rapporteur, congratulated Gabon on the mechanism adopted to tackle human trafficking. Could statistics on the number of stateless people be provided? 

    A Committee Expert asked what steps had been taken by the Gabonese Government to push back against hate speech and xenophobia? Would Gabon ratify the Convention on the Rights of Migrants and Members of their Families?

    Another Expert asked if history education was compulsory in the State party at all levels of the education system? Given the colonial legacy of the State party, to what extent did the educational curricula cover this issue? Was Gabon supportive of the concept of reparations for colonial wrongs?

    A Committee Expert asked if any measures had been taken to eradicate malaria, particularly among migrants and asylum seekers?

    Another Expert asked how refugees were cared for in Gabon, including accommodation needs, in light of the fact that there were no camps?

    An Expert said Gabon had made good progress in regard to the education of children with disabilities. Had Gabon ratified the Convention on the Protection of Persons with Disabilities, and instruments on displaced persons.

    One Expert paid tribute to the father of the Gabonese nation.

    Responses by the Delegation

    The delegation said in history classes in public schools, there was no political link with colonialism. The curriculum was based on the programme drafted by a national pedological institution.

    Closing Remarks

    FAITH DIKELEDI PANSY TLAKULA, Committee Expert and Follow-up Rapporteur , said it would be the first time that Gabon would receive recommendations with a follow-up. Several recommendations would be highlighted for follow-up within one year.

    RÉGINE ESSENEME, Committee Expert and Country Rapporteur, congratulated Gabon for the multi-sectoral approach taken to the dialogue, which had been productive and fruitful. Ms. Esseneme thanked all those who had made the dialogue possible, especially in the hybrid format. Gabon was urged to do its utmost to implement the recommendations contained in the concluding observations, to ensure ongoing collaboration with the Committee.

    PAUL-MARIE GONDJOUT, Minister of Justice, Keeper of the Seals of Gabon and head of the delegation , thanked the Committee for the constructive and respectful exchange which had taken place. The Committee’s questions had provided an opportunity to share more information about the situation in Gabon. Gabon would continue engaging with the Committee and looked forward to the concluding observations and follow-up. Gabon would respond within the timeframes indicated. Gabon would take steps to ensure the optimal implementation of the provisions enshrined within the Convention, working with all stakeholders involved in human rights.

    _______________

    CERD25.007E

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

    MIL OSI United Nations News

  • MIL-OSI USA: Justice Department Files Complaints Against Hawaii, Michigan, New York and Vermont Over Unconstitutional State Climate Actions

    Source: US State of Vermont

    WASHINGTON — The Justice Department today filed complaints against the states of New York and Vermont over their “climate superfund laws.” In separate actions, the Justice Department yesterday filed lawsuits against the states of Hawaii and Michigan to prevent each state from suing fossil fuel companies in state court to seek damages for alleged climate change harms.

    President Trump recently directed Attorney General Pamela Bondi to take action to stop the enforcement of state laws that unreasonably burden domestic energy development so that energy will once again be reliable and affordable for all Americans. These lawsuits advance President Trump’s directive in Executive Order 14260, Protecting American Energy from State Overreach.

    “These burdensome and ideologically motivated laws and lawsuits threaten American energy independence and our country’s economic and national security,” said Attorney General Pamela Bondi. “The Department of Justice is working to ‘Unleash American Energy’ by stopping these illegitimate impediments to the production of affordable, reliable energy that Americans deserve.”

    “When states seek to regulate energy beyond their constitutional or statutory authority, they harm the country’s ability to produce energy and they aid our adversaries,” said Acting Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division. “The Department’s filings seek to protect Americans from unlawful state overreach that would threaten energy independence critical to the wellbeing and security of all Americans.”

    According to the complaints filed yesterday in the U.S. District Courts for the District of Hawaii and the Western District of Michigan, Hawaii and Michigan intend to sue fossil fuel companies to seek damages for alleged climate change harms.  The government alleges that these anticipated actions are preempted by the Clean Air Act and violate the Constitution. Such lawsuits burden energy production, force the American people to pay more for energy, and make the United States less able to defend itself from hostile foreign actors.

    Complaints filed today in U.S. District Courts for the Southern District of New York and for the District of Vermont challenge expropriative laws passed by New York and Vermont. These “climate superfund” laws would impose strict liability on energy companies for their worldwide activities extracting or refining fossil fuels. The laws assess penalties for those businesses’ purported contributions to harms that those states allegedly are experiencing from climate change. The New York law seeks $75 billion from energy companies, while the Vermont law seeks an unspecified amount.

    Today’s complaints allege that the New York Climate Change Superfund Act and the Vermont Climate Superfund Act are preempted by the federal Clean Air Act and by the federal foreign affairs power, and that they violate the U.S. Constitution. The Justice Department seeks a declaration that these state laws are unconstitutional and an injunction against their enforcement.

    Complaints:

    MIL OSI USA News

  • MIL-OSI Security: Justice Department Files Complaints Against Hawaii, Michigan, New York and Vermont Over Unconstitutional State Climate Actions

    Source: United States Attorneys General 1

    WASHINGTON — The Justice Department today filed complaints against the states of New York and Vermont over their “climate superfund laws.” In separate actions, the Justice Department yesterday filed lawsuits against the states of Hawaii and Michigan to prevent each state from suing fossil fuel companies in state court to seek damages for alleged climate change harms.

    President Trump recently directed Attorney General Pamela Bondi to take action to stop the enforcement of state laws that unreasonably burden domestic energy development so that energy will once again be reliable and affordable for all Americans. These lawsuits advance President Trump’s directive in Executive Order 14260, Protecting American Energy from State Overreach.

    “These burdensome and ideologically motivated laws and lawsuits threaten American energy independence and our country’s economic and national security,” said Attorney General Pamela Bondi. “The Department of Justice is working to ‘Unleash American Energy’ by stopping these illegitimate impediments to the production of affordable, reliable energy that Americans deserve.”

    “When states seek to regulate energy beyond their constitutional or statutory authority, they harm the country’s ability to produce energy and they aid our adversaries,” said Acting Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division. “The Department’s filings seek to protect Americans from unlawful state overreach that would threaten energy independence critical to the wellbeing and security of all Americans.”

    According to the complaints filed yesterday in the U.S. District Courts for the District of Hawaii and the Western District of Michigan, Hawaii and Michigan intend to sue fossil fuel companies to seek damages for alleged climate change harms.  The government alleges that these anticipated actions are preempted by the Clean Air Act and violate the Constitution. Such lawsuits burden energy production, force the American people to pay more for energy, and make the United States less able to defend itself from hostile foreign actors.

    Complaints filed today in U.S. District Courts for the Southern District of New York and for the District of Vermont challenge expropriative laws passed by New York and Vermont. These “climate superfund” laws would impose strict liability on energy companies for their worldwide activities extracting or refining fossil fuels. The laws assess penalties for those businesses’ purported contributions to harms that those states allegedly are experiencing from climate change. The New York law seeks $75 billion from energy companies, while the Vermont law seeks an unspecified amount.

    Today’s complaints allege that the New York Climate Change Superfund Act and the Vermont Climate Superfund Act are preempted by the federal Clean Air Act and by the federal foreign affairs power, and that they violate the U.S. Constitution. The Justice Department seeks a declaration that these state laws are unconstitutional and an injunction against their enforcement.

    Complaints:

    MIL Security OSI

  • MIL-OSI Economics: Steering Committee of Partenariat pour le Coton addresses priorities for cotton sector

    Source: WTO

    Headline: Steering Committee of Partenariat pour le Coton addresses priorities for cotton sector

    Participants focused on translating identified needs into actionable investment opportunities and presented findings from national and regional consultations. They also validated the terms of reference of the Partenariat, including its membership framework, geographical scope and core functions.
    In his opening remarks, WTO Deputy Director-General Jean-Marie Paugam emphasized the importance of strengthening the cotton–textile–garment value chains in the C-4+ countries through increased value addition, expanded trade opportunities and sustainable development outcomes. He noted that the objective of the meeting was threefold: to present the national and regional reports emerging from the consultations; to highlight national priorities and investment needs; and to explore the technical assistance and financing options proposed by financial institutions in response to these findings. His full remarks (in French) are here.
    Ms Kanayo Awani, Afreximbank’s Executive Vice President for Intra-African and Export Development, underscored the need to address issues relating to low yields and processing capacity, climate change, climate variability, market fluctuations, global cotton prices, and limited infrastructure and technology, which hinder productivity and efficiency. To be able to upgrade and integrate into the global cotton value chain, the C-4+ countries need these issues to be tackled, she said.
    Over the two-day gathering, the Steering Committee engaged in thematic sessions on sustainable practices in cotton production and on financing mechanisms for value chain development aligned with the outcomes of the national consultations. A high-level panel explored strategies to unlock investment for cotton industrialization and local transformation in the C-4+ region.
    The meeting concluded with forward-looking discussions on supporting C-4+ priorities, including the establishment of a dedicated C-4+ Partenariat Support Fund to facilitate participation in capacity-building activities and key international meetings. Participants also discussed preparations for the upcoming World Cotton Day, to be hosted in October 2025 by Chad in collaboration with the International Trade Centre (ITC).
    Attendees included representatives from the WTO, United Nations Industrial Development Organization (UNIDO),the  International Labour Organization (ILO), Better Cotton (BC), the African Development Bank (AfDB), FIFA, the International Atomic Energy Agency (IAEA) and the International Cotton Advisory Committee (ICAC). Also present were representatives of the International Finance Corporation (IFC), the International Trade Centre (ITC), the United Nations Office on Drugs and Crime (UNODC), and development partners such as China and the European Union, as well as representatives of the C-4+ countries.
    The next opportunity to carry forward these discussions will be the Director-General’s Consultative Framework Mechanism on Cotton meeting scheduled for 14 May in Geneva.

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    MIL OSI Economics

  • MIL-OSI Asia-Pac: Brainstorming Session on Pumped Storage Projects to Power India’s Renewable Future organized at Scope Complex

    Source: Government of India

    Posted On: 01 MAY 2025 6:53PM by PIB Delhi

    A high-level Brainstorming Session on “Pumped Storage Projects: Powering India’s Renewable Future” was successfully organized today at the SCOPE Convention Centre, New Delhi, by THDC India Ltd. and Central Electricity Authority (CEA) in association with NTPC, with the support of CBIP & INCOLD.

    The session witnessed the participation of over 300 distinguished delegates including top government officials, policymakers, developers, environmental experts, regulators, and senior representatives from the public and private sectors from near about 95 organisations and institutions from all around the country. The day-long event focused on the growing role of Pumped Storage Projects (PSPs) in supporting India’s renewable energy transition and achieving the national target of net zero emissions by 2070.

    The event was graced by Sh. Pankaj Agarwal (IAS), Secretary, Ministry of Power, GoI, as the Chief Guest, along with Sh. Akash Tripathi (IAS), Additional Secretary (Hydro), Ministry of Power, GoI, as the Guest of Honour. Shri M.G. Gokhale, Member (Hydro), CEA; Shri Gurdeep Singh, CMD, NTPC; Shri R.K. Vishnoi, CMD, THDCIL; Shri Mohmmad Afzal, Joint Secretary (Hydro), MoP; Shri Bhupender Gupta, Director (Technical), THDCIL, Sh. A. K. Dhinkar, Secretary, CBIP along with other senior officers of Power Sector in India were among the dignitaries present at the ceremony.

    The event featured four focused panel discussions that covered critical themes, including the “Policy, Planning, and Regulatory Framework for Pumped Storage Projects (PSPs)”, “Geological, Civil, and Material Considerations in PSP Development”, “Environmental and Forest Clearance Framework- Challenges & Streamlining”, and “Implementation Challenges & Way Forward for PSPs in India”. These discussions provided valuable insights into the complexities and opportunities within each area, fostering a productive dialogue among policymakers, developers, technical experts, and environmental professionals.

    Shri Pankaj Agarwal, IAS, Secretary, Ministry of Power, Govt. of India during his address, emphasized that ensuring grid stability is a matter of urgent national priority and every state must actively contribute to this effort. He further underlined the need for Sub-regions within states to become self-sufficient from a grid management perspective, with a strong focus on flexible generation and load shifting. He added that there is a need of brainstorming and policy dialogue to fast-track PSP development, with a focus on reviewing procedural delays and streamlining processes and platforms like these are vital for building consensus and enabling coordinated sectoral action.

    Shri Akash Tripathi, (IAS), Additional Secretary (Hydro), Ministry of Power, GoI in his address, highlighted that the genesis of this workshop lies in the need to bring together relevant stakeholders to collaborate on accelerating the development of Pumped Storage Projects (PSPs). He noted that the workshop aims to foster brainstorming and exchange of key policy perspectives on how to fast-track PSP implementation

    Shri M.G. Gokhale, Member (Hydro), CEA highlighted the vast potential of Pumped Storage Projects (PSPs) in India, emphasizing their critical role in achieving the country’s Net Zero targets through reliable energy storage. He noted that, around 3 GW of PSP capacity is expected to be added in 2025-26, including the commissioning of the 1000 MW Tehri PSP in the coming months.

    Shri Gurdeep Singh, CMD, NTPC stressed the urgent need for large-scale deployment of Pumped Storage Projects (PSPs), stating that the energy transition cannot succeed without robust storage solutions. Given the intermittent nature of renewables, he emphasized the need of storage capabilities for a stable shift to renewable energy and reliable grid management.

    Shri R.K. Vishnoi, CMD, THDCIL welcomed the imminent dignitaries and emphasized that the workshop is aimed at deliberating on the development of Pumped Storage Projects (PSPs). He noted that the focus will be on identifying roadblocks and exploring ways to ensure faster and more efficient execution of projects on the ground. Sh. Vishnoi also addressed the scope of automation in various aspects of operations and how it can ensure seamless operations, and enhance efficiency.

    Sh. A. K. Dhinkar, Secretary, CBIP delivered the vote of thanks, expressing gratitude to the eminent panellist for their participation and contributions. He highlighted the importance of accelerating the development of Pumped Storage Projects as a key player in building a resilient and sustainable future.

    The first panel discussion was focused on the topic “Policy, Planning & Regulatory Framework for PSPs,” moderated by Shri Mohammad Afzal, Joint Secretary (Hydro), Ministry of Power. The panel included Sh. Bhupender Gupta, Director (Technical), who deliberated on the developer’s perspective on PSP development under the current policy regime.

    Expert speakers from organizations such as Ministry of Power, GoI; MoEF &CC, GoI; CEA, NTPC, THDC, NHPC, REC/PFC, SJVN, NEEPCO, CWC, UPJVNL, Greenko Group, GSI, CSMRS, MAHAGENCO, JSW Energy, APGENCO, Adani Group, OHPC, TATA Power, Karnataka Power Corporation, and premier academic institutions like IIT Roorkee shared case studies, best practices, and innovative strategies to overcome challenges in PSP planning and execution.

    Deliberations highlighted the urgent need for streamlined policy support, faster clearance mechanisms, robust financing options, and strengthened collaboration between central and state agencies to scale up PSP deployment across India. The session concluded with a comprehensive summary by CEA and a vote of thanks by THDC.

    Notably, THDC India Ltd., a subsidiary of NTPC, is also in the final stages of commissioning India’s first Variable Speed Pumped Storage Plant of 1000 MW capacity at Tehri, Uttarakhand, having successfully completed critical tests—marking a significant milestone in India’s energy storage journey.

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    MIL OSI Asia Pacific News

  • MIL-OSI Australia: The uni student’s guide to Canberra

    Source: Northern Territory Police and Fire Services

    • This story contains information for students about living in Canberra.

    Canberra is a brilliant city for university students.

    With so much to do and see, it can be difficult to know where to start.

    Here’s a quick guide to Canberra for students:

    Get your life admin sorted

    First things first, make sure that your details are up to date and in order.

    You know, those things like:

    • getting an ACT driver licence
    • updating your details with Medicare
    • updating your details on the electoral roll.

    You’ll also need to get familiar with Access Canberra. It’s where you can access ACT Government services and transactions.

    We’ve put together a list that tells you how to go about tackling all these tasks and more.

    Find a place to live

    If you’re not living on campus, there are a few ways to find somewhere to rent or share.

    You can also search for rental listings on:

    Housing ACT offers interest-free loans to pay rental bonds for eligible Canberrans.

    Once you’ve moved into a rental property, you can get a free home energy assessment. The Renters’ Home Energy Program can help you save on energy bills.

    Getting your home set up

    There are lots of places to get good-quality second-hand goods.

    • homewares and furniture
    • entertainment
    • electronics
    • outdoor goods
    • sports gear

    You could also try Facebook Marketplace, or join the “Buy Nothing” Facebook group for your suburb.

    Find your way with MyWay+

    Canberra’s public transport system includes bus and light rail services.

    MyWay+ is the ticketing system that provides personalised and convenient travel management. It offers a range of payment options for bus and light rail services, including smartphones, smartwatches, Mastercard or Visa cards, a physical MyWay+ travel card, digital QR code within the MyWay+ app or printed tickets.

    The MyWay+ app allows you to plan and manage your travel. You can download the MyWay+ app for free from:

    Tertiary students attending a public or private Australian university or CIT full time can access tertiary concession fares. Simply register your concession in your MyWay+ account to access discounted travel.

    And don’t forget, if you plan your journey on a Friday, you can travel for free with Fare free Fridays.

    Find out more.

    Know where to go for your health care

    The ACT Government has developed an online tool to help Canberrans find out more about local health services.

    It includes information about GP services, community-based health care services, and non-government health related services.

    Staying safe

    In the event of an emergency, call triple zero (000). This will connect you to ambulance, police and fire aid.

    Get the most out of your student card

    Many of our cultural institutions are free to enter. Some also offer student discounts for ticketed exhibitions.

    Some of Canberra’s cultural institutions include:

    Here are some stories that might help you to save money while enjoying your new city:

    If you’re a foodie, you might enjoy these stories:

    These stories will help you find some fun ways to see more of the city:

    More great resources

    The canberra.com.au website offers a handy student guide created by local experts.

    Find out more about the city and how to enjoy your time studying and living in Canberra, with articles including:

    Get ACT news and events delivered straight to your inbox, sign up to our email newsletter:

    MIL OSI News

  • MIL-OSI USA: Governor Pillen’s Pro-Water, Pro-Ag Legislation Advances

    Source: US State of Nebraska

    . This legislation was introduced at the request of the Governor. 

    “Water is our lifeblood. As a farming and ranching state that is growing, this is the right time for Nebraska to create a modern model of stewardship and double-down on our work to protect and enhance our water resources. The newly structured Department of Water, Energy and Environment allows us to prioritize the management of both water quantity and water quality under the same leadership – while also streamlining duplicative government and cutting red tape. This legislation is a win-win for our state.” 

    Gov. Pillen said he appreciated Senator Tom Brandt’s hard work to successfully advance this important legislation. Once signed into law, LB 317 will merge two existing code agencies: the Department of Natural Resources (DNR) with the Department of Environment and Energy (DEE).

    In February, Gov. Pillen appointed Jesse Bradley to serve as interim director to both DEE and DNR. He will lead the restructured agency. 

    The legislation will be signed into law by Governor Pillen next week.

    MIL OSI USA News

  • MIL-OSI USA: Senators Peters, Cassidy Announce Bipartisan Legislation to Strengthen the Resiliency of U.S. Power Grids

    US Senate News:

    Source: United States Senator for Michigan Gary Peters

    WASHINGTON, DC – U.S. Senators Gary Peters (D-MI) and Bill Cassidy (R-LA) announced new bipartisan legislation to strengthen the resiliency of power grids across the country. The senators’ Preventing Power Outages Act would reauthorize two U.S. Department of Energy (DOE) grant programs that help states and utilities invest in modernizing their grid infrastructure to ensure the power stays on even in the face of extreme weather and natural disasters. The bill would also update these programs to ensure that sufficient funding goes to states whose grids are least reliable and require the most investment.  

    “Thousands of Michigan households lost power for weeks on end after the catastrophic ice storm that recently hit Northern Michigan and the Upper Peninsula, and our dedicated lineman are still working to fully restore power in some communities. This devastating storm was just one of many severe weather events in recent years that significantly disrupted our electrical grid and, as a result, risked the safety of Michiganders. It’s clear that our power infrastructure is in dire need of upgrades in order to keep our residents safe, keep energy costs down, and meet the growing demands of our communities,” said Senator Peters. “I’m leading this bipartisan bill to help ensure Michigan can access the federal resources we need to strengthen our power grid to reduce outages, improve reliability, and deliver affordable power to every Michigan household.” 

    “I was at an event this week where President Trump emphasized the need for growth and power generation to fuel our future economy. He specifically spoke of the problems with our grid,” said Dr. Cassidy. “This is one more step in addressing those problems that President Trump was speaking of.”

    Many states, including Michigan and Louisiana, are in need of long-term, strategic investment to improve the resiliency of their grid infrastructure and deliver reliable power to households and businesses. However, without federal assistance, grid repair costs often ultimately fall to the very consumers that are being impacted by rising energy rates, poor reliability, and long service restoration times. 

    The Preventing Power Outages Act would reauthorize and update DOE’s Grid Resilience State/Tribal Formula Grants Program and Grid Resilience Utility and Industry Grants Program – which have spurred historic investment in much-needed grid improvements in recent years but are set to expire in 2026. Funding from these programs can be used for undergrounding electrical equipment, utility pole management, relocating power lines, and more. It can also be used to acquire innovative technologies including weatherization equipment, fire-resistant technologies, and fire prevention systems. Without reauthorization, states that require significant grid upgrades could go without the necessary investments to address ongoing challenges. The senators’ legislation aims to protect these critical federal resources and ensure Americans across the country have access to safe, reliable, and affordable power. 

    MIL OSI USA News