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Category: Energy

  • MIL-OSI: Marex Group plc provides preliminary Q1 results range and hosts Investor Day in New York

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 02, 2025 (GLOBE NEWSWIRE) — Marex Group plc (Nasdaq: MRX) (‘Marex’), the diversified global financial services platform, provides a Q1 trading update at its Investor Day, being held today at the Nasdaq Marketsite in New York City.

    Marex reports a strong start to the year with positive momentum and supportive market conditions continuing through the first quarter of 2025. Client activity has remained strong across the platform with high levels of exchange volumes driven by volatility. Agency and Execution has benefited from strong performance in the Prime Services business and continued progress in the Energy business.

    As a result, first quarter 2025 revenues are expected to be in a range of $449.3 to $464.3 million (Q1 2024: $365.8 million) and Adjusted Profit Before Tax2 in a range of $92.3 to $97.3 million (Q1 2024: $67.7 million).

    Ian Lowitt, CEO, stated: “Very robust levels of client activity across our businesses and positive market conditions have continued into 2025 and led to a strong performance in the first quarter of the year, building on our performance in 2024. These benefits more than outweighed the impact of lower net interest income partly arising from the interest rate environment, compared to the fourth quarter of 2024. This demonstrates the successful execution of our strategy to diversify our business and deliver sustainable growth through a variety of market conditions by expanding our geographic footprint and product capabilities, increasing our relevance to a growing client base.”

    Preliminary Q1 2025 results range

    We have not yet completed our closing procedures for the three months ended March 31, 2025. The table below are certain estimated preliminary unaudited financial results for the three months ended March 31, 2025:

      3 Months ended March 31, 20251   3 Months ended March 31, 2024
    Unaudited ($m) Estimated Low Estimated High   Actuals
    Revenue 449.3 464.3   365.8
    Reported Profit Before Tax 94.4 102.1   58.9
    Tax 24.5 26.5   15.3
    Reported Profit After Tax 69.9 75.6   43.6
    Adjusted Profit Before Tax2 92.3 97.3   67.7
             
    Profit After Tax Margin 16% 16%   12%
    Adjusted Profit Before Tax Margin2 21% 21%   19%
             
    Basic Earnings per Share ($)3 0.94 1.02   0.60
    Diluted Earnings per Share ($)3 0.88 0.96   0.56
    Adjusted Basic Earnings per Share ($)2,3 0.94 0.99   0.74
    Adjusted Diluted Earnings per Share ($)2,3 0.88 0.93   0.69
    1. Figures reflect certain estimated preliminary unaudited financial results for the three months ended March 31, 2025. Estimates represent results that are preliminary and subject to change. Actual results will not be finalized until after we complete our normal quarter-end accounting procedures, including the execution of our internal control over financial reporting. These estimates reflect our management’s best estimate of the impact of events during this quarter.
    2. These are non-IFRS financial measures. See Appendix 1 “Non-IFRS Financial Measures and Key Performance Indicators” for additional information and for a reconciliation of each such IFRS measure to its most directly comparable non-IFRS measure.
    3. Weighted average number of shares have been restated as applicable for the Group’s reverse share split (refer to Appendix 1 for further detail).

    Investor Day

    Marex is hosting an Investor Day today, April 2, 2025 starting at 9:30am E.T. The event will feature presentations from Marex’s business heads, to provide a greater understanding of Marex’s operations and growth strategy, as well as a question and answer session with senior leadership including Ian Lowitt, CEO, Rob Irvin, CFO and Paolo Tonucci, Chief Strategist and CEO Capital Markets.

    An audio livestream of the event will be available under the ‘events and presentations’ section on ir.marex.com. The webcast will also be available for replay, after the completion of the event.

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

    About Marex Group:

    Marex Group plc (NASDAQ: MRX) is a diversified global financial services platform providing essential liquidity, market access and infrastructure services to clients across energy, commodities and financial markets. The Group provides comprehensive breadth and depth of coverage across four core services: Clearing, Agency and Execution, Market Making and Hedging and Investment Solutions. It has a leading franchise in many major metals, energy and agricultural products, with access to 60 exchanges. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers. Headquartered in London with more than 40 offices worldwide, the Group has over 2,300 employees across Europe, Asia and the Americas. For more information visit www.marex.com.

    Enquiries please contact:

    Marex

    Investors – Robert Coates
    +44 7880 486 329 / rcoates@marex.com

    Media – Nicola Ratchford, Marex / FTI Consulting US / UK
    + 44 7786 548 889 / nratchford@marex.com / +1 919 609 9423 / +44 7776 111 222 | marex@fticonsulting.com

    Forward Looking Statements

    This press release contains forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including expected outlook regarding Q1 2025 financial results. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions.

    These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation: subdued commodity market activity or pricing levels; the effects of geopolitical events, terrorism and wars, such as the effect of Russia’s military action in Ukraine or the on-going conflicts in the Middle East, on market volatility, global macroeconomic conditions and commodity prices; changes in interest rate levels; the risk of our clients and their related financial institutions defaulting on their obligations to us; regulatory, reputational and financial risks as a result of our international operations; software or systems failure, loss or disruption of data or data security failures; an inability to adequately hedge our positions and limitations on our ability to modify contracts and the contractual protections that may be available to us in OTC derivatives transactions; market volatility, reputational risk and regulatory uncertainty related to commodity markets, equities, fixed income, foreign exchange; the impact of climate change and the transition to a lower carbon economy on supply chains and the size of the market for certain of our energy products; the impact of changes in judgments, estimates and assumptions made by management in the application of our accounting policies on our reported financial condition and results of operations; lack of sufficient financial liquidity; if we fail to comply with applicable law and regulation, we may be subject to enforcement or other action, forced to cease providing certain services or obliged to change the scope or nature of our operations; significant costs, including adverse impacts on our business, financial condition and results of operations, and expenses associated with compliance with relevant regulations; and if we fail to remediate the material weaknesses we identified in our internal control over financial reporting or prevent material weaknesses in the future, the accuracy and timing of our financial statements may be impacted, which could result in material misstatements in our financial statements or failure to meet our reporting obligations and subject us to potential delisting, regulatory investments or civil or criminal sanctions, and other risks discussed under the caption “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) and our other reports filed with the SEC.

    The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.

    Appendix 1

    Non-IFRS Financial Measures and Key Performance Indicators

    In addition to our results determined in accordance with IFRS Accounting Standards (IFRS), we believe the following non-IFRS measures provide useful information both to management and investors in measuring our financial performance for the reasons outlined below. These measures may not be comparable to similarly titled measures presented by other companies, and they should not be construed as an alternative to other financial measures determined in accordance with IFRS. The Group changed the labelling of its non-IFRS measures during 2024 to simplify the naming to better align to the equivalent IFRS reported metric for better understanding and communication and enhance transparency and comparability.

    Adjusted Profit Before Tax (formerly labelled Adjusted Operating Profit)

    We define Adjusted Profit Before Tax as profit after tax adjusted for (i) taxation charge (ii) acquisition costs, (iii) bargain purchase gains, (iv) owner fees, (v) amortisation of acquired brands and customer lists, (vi) activities in relation to shareholders, and (vii) IPO preparation costs. Items (i) to (vii) are referred to as “Adjusting Items.” Adjusted Profit Before Tax is an important measure used by our management to evaluate and understand our underlying operations and business trends, forecast future results and determine future capital investment allocations. Adjusted Profit Before Tax is the measure used by our executive board to assess the financial performance of our business in relation to our trading performance and hence it is our segments performance measure presented under IFRS Accounting Standards. Adjusted Profit Before Tax is also presented on a consolidated basis because our management believes it is important to consider our profitability on a basis consistent with that of our operating segments. When presented on a consolidated basis, Adjusted Profit Before Tax is a non-IFRS measure.  The most directly comparable IFRS measure is profit after tax.

    Adjusted Profit Before Tax Margin (formerly labelled Adjusted Operating Profit Margin)

    We define Adjusted Profit Before Tax Margin as Adjusted Profit Before Tax (as defined above) divided by revenue. We believe that Adjusted Profit Before Tax Margin is a useful measure as it allows management to assess the profitability of our business in relation to revenue. The most directly comparable IFRS Accounting Standards measure is profit margin, which is profit after tax divided by revenue.

    Adjusted Profit After Tax Attributable to Common Equity (formerly labelled Adjusted Operating Profit after Tax Attributable to Common Equity)

    We define Adjusted Profit After Tax Attributable to Common Equity as profit after tax adjusted for the items outlined in the Adjusted Profit Before Tax paragraph above. Additionally, Adjusted Profit After Tax Attributable to Common Equity is also adjusted for (i) tax and the tax effect of the Adjusting Items to calculate Adjusted Profit Before Tax and (ii) profit attributable to AT1 note holders, which is the coupons on the AT1 issuance and accounted for as dividends adjusted for the tax benefit of the coupons. Common equity is a non-IFRS measure and we define Common Equity as being the equity belonging to the holders of the Group’s share capital.

    Adjusted Basic Earnings per Share and Adjusted Diluted Earnings per Share

    Adjusted Basic Earnings per Share is defined as the Adjusted Profit After Tax Attributable to Common Equity for the period divided by weighted average number of ordinary shares for the period. We believe Adjusted Basic Earnings per Share is a useful measure as it allows management to assess the profitability of our business per share. The most directly comparable IFRS metric is basic earnings per share. This metric has been designed to highlight the Adjusted Profit After Tax Attributable to Common Equity over the available share capital of the Group. Adjusted Diluted Earnings per Share is defined as the Adjusted Profit After Tax Attributable to Common Equity for the period divided by the diluted weighted average shares for the period. We believe Adjusted Diluted Earnings per Share is a useful measure as it allows management to assess the profitability of our business per share on a diluted basis. Dilution is calculated in the same way as it has been for diluted earnings per share. The most directly comparable IFRS metric is diluted earnings per share.

    Reconciliation

    The following table reconciles: (1) Adjusted Profit Before Tax and Adjusted Profit after Tax Attributable to Common Equity from the most directly comparable IFRS Accounting Standards measure, which is profit after tax, (2) Adjusted Profit Before Tax Margin from the most directly comparable IFRS Accounting Standards measure, which is profit margin (which is profit after tax divided by revenue), (3) Adjusted Basic Earnings per Share from the most directly comparable IFRS measure, which is basic earnings per share, and (4) Adjusted Diluted Earnings per Share from the most directly comparable IFRS measure, which is diluted earnings per share, in each case, for the periods presented below.

    Reconciliation of Non-IFRS Financial Measures and Key Performance Indicators:

      3 months ended March 31, 2025   3 months ended March 31, 2025   3 months ended March 31, 2024
      Estimated Low   Estimated High   Actuals
      $m   $m   $m
    Profit After Tax 69.9   75.6   43.6
    Taxation charge 24.5   26.5   15.3
    Profit Before Tax 94.4   102.1   58.9
    Bargain purchase gains1 (3.4)   (6.1)   —
    Acquisition costs2 —   —   0.2
    Amortisation of acquired brands and customer lists3 1.3   1.3   0.8
    Activities relating to shareholders4 —   —   2.4
    Owner fees5 —   —   1.7
    IPO preparation costs6 —   —   3.7
    Adjusted Profit Before Tax 92.3   97.3   67.7
    Tax and the tax effect on the Adjusting Items7 (22.8)   (24.1)   (15.5)
    Profit attributable to AT1 note holders8 (3.3)   (3.3)   (3.3)
    Adjusted Profit after Tax Attributable to Common Equity 66.2   69.9   48.9
               
    Profit After Tax Margin 16%   16%   12%
    Adjusted Profit Before Tax Margin9 21%   21%   19%
               
    Basic Earnings per Share ($)10 0.94   1.02   0.60
    Diluted Earnings per Share ($)11 0.88   0.96   0.56
               
    Adjusted Basic Earnings per Share($)10 0.94   0.99   0.74
    Adjusted Diluted Earnings per Share ($)11 0.88   0.93   0.69
               
    1. A bargain purchase gain is expected to be recognised as a result of the Group’s acquisition of Darton Group Limited.
    2. Acquisition costs are costs, such as legal fees incurred in relation to the business acquisitions.
    3. This represents the amortisation charge for the period of acquired brands and customers lists.
    4. Activities in relation to shareholders primarily consist of dividend-like contributions made to participants within certain of our share-based payments schemes.
    5. Owner fees relate to management services fees paid to parties associated with the ultimate controlling party based on a percentage of our EBITDA in each year, presented in the income statement within other expenses.
    6. IPO preparation costs related to consulting, legal and audit fees, presented in the income statement within other expenses.
    7. Tax and the tax effect on the Adjusting Items represents the tax for the period and the tax effect of the other Adjusting Items removed from Profit After Tax to calculate Adjusted Profit Before Tax. The tax effect of the other Adjusting Items was calculated at the Group’s effective tax rate for the respective period.
    8. Profit attributable to AT1 note holders are the coupons on the AT1 issuance, which are accounted for as dividends.
    9. Adjusted Profit Before Tax Margin is calculated by dividing Adjusted Profit Before Tax (as defined above) divided by revenue for the period.
    10. The weighted average numbers of shares used in the calculation for the three months ended March 31, 2025 range estimates and three months ended March 31, 2024 actuals were 70,541,771 and  65,683,374 respectively.  Weighted average number of shares have been restated as applicable for the Group’s reverse share split.
    11. The weighted average numbers of diluted shares used in the calculation for the three months ended March 31, 2025 range estimates and three months ended March 31, 2024 actuals were 74,942,291 and  70,383,309 respectively.  Weighted average number of shares have been restated as applicable for the Group’s reverse share split.

    The MIL Network –

  • MIL-OSI Economics: Samsung Introduces SmartThings Powered ‘Customized Cooling’; delivering intelligent automation, improved energy efficiency, and comfortable sleep environment

    Source: Samsung

    The struggle of sleepless summer nights is finally over. Samsung, India’s leading consumer electronics brand, is redefining home cooling with its latest innovation – ‘Customized Cooling’. This first-of-its-kind feature synchronizes Samsung Smart Air Conditioners with WWST (Works with SmartThings) certified fans and switches, delivering uninterrupted comfort while optimizing energy efficiency.
     
    Why Do We Wake Up Tired? The Science Behind Sleep & Cooling
    India’s electricity demand is growing at 6-7% annually, driven in part by increased use of air conditioners during the summer months (IEA Report). Despite this, many households still rely on both air conditioners and fans for comfort.
     
    In fact, Samsung’s consumer experience study reveals that most of the Indian homes have at least three fans, highlighting the significant role these devices play in daily life. Moreover 50% of Indian consumer’s use both simultaneously, frequently adjusting settings throughout the night by turning the AC off when it becomes too cold or back on when the room warms up.
     
    This constant adjustment not only disrupts sleep but also leads to higher energy consumption and discomfort. Recognizing this challenge, Samsung has introduced ‘Customized Cooling’, a SmartThings-powered solution in the 2025 Bespoke AI range of Air conditioners that automatically maintains a consistently comfortable temperature throughout the night – and even during the day – without the need for manual adjustments.
     
    This seamless integration synchronizes Samsung Smart ACs with SmartThings-certified fans and switches, ensuring enhanced comfort along with reduced electricity bills.
     
    “At Samsung, we believe true comfort goes beyond cooling – it’s about intelligent, personalized experiences that adapt to the user’s needs. Indian consumers often rely on a combination of ACs and fans to stay comfortable, especially at night. With Customized Cooling, we are eliminating the hassle of frequent adjustments by seamlessly operating the 2025 Bespoke AI range of ACs with SmartThings-certified fans and switches. This brings peace of mind, energy efficiency, and uninterrupted rest,” said Ghufran Alam, Vice President, Digital Appliances, Samsung India.
     
     Moreover, while the feature is designed to optimize sleep, it’s equally useful for staying comfortable throughout the day without compromising comfort or energy savings, he further added.
     
    Smart, Energy-Efficient, and Sustainable
     
    The ‘Customized Cooling’ feature eliminates the need for manual adjustments, ensuring a balanced and restful night’s sleep. It automatically adapts to surrounding environment, adjusts fan and AC settings in sync, to maintain a comfortable room environment during sleep or any time of day, while reducing power consumption.
     
    Available within SmartThings Energy Service, the ‘Customized Cooling’ feature ensures both comfort and sustainability. The feature is compatible with WWST-certified smart fans and smart switches, allowing users to integrate it effortlessly into their smart homes.
     
    With this integrated SmartThings experience, Samsung is transforming how consumers experience home cooling. Whether it is ensuring comfortable sleep or providing smart comfort effortless during the day, the tug-of-war between AC and fan settings is finally over – because when technology works for you, comfort comes easy!
     
    About SmartThings
    SmartThings is a leading provider of smart home solutions, dedicated to making your life easier, more comfortable, and more sustainable. Our innovative products and services empower you to take control of your home environment, optimize energy usage, and create a smarter, more connected living space.
     

    MIL OSI Economics –

  • MIL-OSI: Multiple Pay Zones Discovered in Successful Drill Program

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, B.C, April 02, 2025 (GLOBE NEWSWIRE) — BGX – Black Gold Exploration Corp. (the “Company” or “BGX) (CSE: BGX) (FRE: P30) is pleased to announce that drilling at the Fritz 2-30 oil and gas well (the “Well”) in Clay County, Indiana, has been completed (the “Drill Program”). BGX holds a 10% working interest in the Well and an option to participate in any offset developmental wells drilled within a 210-acre area of mutual interest surrounding the Well (the “AMI”) from LGX Energy Corp (“LGX”).

    MULTIPLE PAY ZONES DISCOVERED

    The Drill Program set out to test potential pay zones based on geological features identified by 3D seismic analysis. There were multiple zones with suspected high porosity and LGX has now confirmed multiple pay zones in the Carper Sand and Devonian formations. All these horizons are above 1,900 feet of total depth.

    “These results confirm the accuracy of our analysis of the 3D seismic and other data we have compiled. We are very happy with the results of this drill program and believe there continues to be even more untapped value in this oil field,” commented Howard Crosby, CEO of LGX.

    POTENTIAL FOR SEVERAL OFFSET WELLS

    Through the Drill Program, it was also determined that based on these initial results, there is the potential for several more offset wells based on this discovery well. This would include additional Carper Sand wells and multiple Devonian well locations.

    “We are thrilled with the results of the Drill Program. Not only did we uncover multiple pay zones, but we now anticipate the potential for several more offset wells,” stated Francisco Gulisano, Chief Executive Officer of BGX.

    PATH TO PRODUCTION AND CONTINUED GROWTH

    The Drill Program showed that the Well can be completed and turned into a producing well within the next 30 to 60 days. The Company is now working with LGX to complete the Well and commence extraction. Within the coming weeks, the operator for LGX will perform a swab test and flow test to assess the Well’s productivity and reservoir characteristics. Based on the results of these tests, the Company expects to be able to estimate production from the Well and further details regarding plans for offset wells.

    “I am very happy to be able to report to our shareholders that our strategy in the Illinois Basin has paid off. Not only do we have the potential to start producing cash flow for the Company as early as next quarter, but it appears the Fritz Well may be just the beginning of a lucrative partnership with LGX,” added Mr. Gulisano.

    GROWING AWARENESS

    BGX’s rapid growth in the Illinois Basin has started attracting attention. The Company is pleased to share one such article from an arm’s length third-party: https://rb.gy/3yqkal

    On behalf of the Company, 
    Francisco Gulisano
    236-266-5174
    Chief Executive Officer

    About BGX

    BGX – Black Gold Exploration Corp. (CSE: BGX) (FRE: P30) is an oil and gas exploration company dedicated to creating shareholder value through the acquisition, exploration and development of oil and gas projects. BGX currently has assets in Argentina and the United States of America. For more information visit https://www.bgxcorp.com.

    Forward-Looking Statements

    ‎The information in this news release includes certain information and statements about management’s view of future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. It should be noted that there are inherent risks and uncertainties in oil and gas exploration. Forward- looking statements in this news release include, but are not limited to statements respecting: (i) the confirmation of pay zones in the Carper Sand and Devonian formations; (ii) Howard Crosby’s statement that there is more untapped value in this oil field; (iii) there being potential for several more offset wells in; (iv) the timing for turning the Well into a producing well; (v) performance of the swab test and flow test on the Well and the implication of same for the Company and its plans; (vi) the Company’s potential to start producing as early as next quarter; and (vii) the Well being beginning of a lucrative partnership with LGX. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements, or otherwise. For a comprehensive overview of all risks that may impact the Company, please see the Company’s continuous disclosure documents filed on SEDAR+.

    Neither the CSE nor the CSE’s Regulation Services Provider (as that term is defined in the policies of the CSE) accept responsibility for the accuracy of this release.

    The MIL Network –

  • MIL-OSI Africa: What to Expect at Angola Oil & Gas 2025

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

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

    With a $60 billion upstream investment pipeline, a 2025 licensing round and restructured block opportunities, Angola is positioning itself as the premier destination for upstream investors. Meanwhile, new downstream projects are opening up financing opportunities for technology and capital providers. Against this backdrop, the Angola Oil & Gas (AOG) conference and exhibition returns for its sixth edition from September 3-4 in Luanda, bringing together industry leaders to explore investment opportunities, forge collaborations and drive Angola’s oil and gas sector forward. Here is what to expect from this year’s edition:

    Celebrating 50 Years of Angola

    Taking place on the eve of Angola’s 50th anniversary of independence, AOG 2025 will celebrate five decades of growth in the country’s oil and gas sector. By reflecting on past successes, challenges and lessons learned, the event will not only highlight Angola’s profitability and potential, but also lay the groundwork for future investment and development.

    Multi-Track Agenda

    AOG 2025 offers a dynamic multi-track agenda designed to cater to all segments of the oil and gas value chain. Topics range from upstream exploration and production, to downstream refinery and petrochemical advancements, to regulatory and policy frameworks, and more. Keynote presentations and panel discussions will also provide insights into Angola’s latest licensing round and emerging opportunities in the oil and gas sector.

    Pre-Conference Program

    Leading up to the main event, AOG 2025 introduces an expanded pre-conference program, including specialized technical workshops and training sessions led by global energy experts. Designed for engineers, geologists, project managers and energy financiers, these sessions will explore cutting-edge advancements in drilling technologies, reservoir management, digital transformation and sustainable energy practices. To take part in the pre-conference program, contact sales@energycapitalpower.com

    Dedicated Deal Room

    A centerpiece of AOG 2025 is the exclusive Deal Room, designed as a high-impact ‘Dragon’s Den’-style platform where companies, service providers, SMEs and technology firms can showcase their solutions to investors, project developers and government representatives. This setup fosters direct engagement, driving collaboration and deal-making.

    Expanded Exhibition

    AOG 2025 will feature an expanded exhibition space, spotlighting the latest technologies, services and innovations shaping the oil and gas industry. Exhibitors will gain access to unparalleled brand exposure, senior decision-makers, high-value networking and targeted lead generation. The exhibition serves as a vital platform for companies looking to increase visibility and forge new business relationships.

    Networking Prospects

    As Angola’s largest oil and gas industry event, AOG 2025 welcomes the participation of over 2,500 attendees from 40 countries and 450 organizations. The event unites the entire oil and gas value chain, connecting upstream exploration and production to downstream infrastructure and services to finance, policy and technology. Delegates will have the unique opportunity to strengthen cross-sector collaboration and grow their brand in one of Africa’s most exciting oil and gas markets.

    Secure Your Place at AOG 2025

    Don’t miss the chance to engage with one of Africa’s largest oil and gas markets. Join the AOG 2025 conference today and be a part of the discussion on turning Angola’s oil and gas industry into a fuel for long-term, sustainable economic development. AOG 2025 offers a range of participating opportunities, including sponsorships, exhibition, speaking slots and delegation prospects. Visit www.AngolaOilandGas.com for more information.

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

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Showcase for local suppliers interested in fusion energy

    Source: United Kingdom – Executive Government & Departments

    News story

    Showcase for local suppliers interested in fusion energy

    Businesses across Nottinghamshire, Lincolnshire and Yorkshire find out more about fusion energy at an event at Gainsborough Golf Club.

    STEP’s James Heaton and a local supplier – Image credit: UK Industrial Fusion Solutions Ltd.

    More than 120 representatives from small and medium enterprises located close to the home of STEP (Spherical Tokamak for Energy Production) at West Burton gathered recently for a local supplier engagement event, hosted by the team who are bringing fusion energy to the UK.

    Howard Wilson, STEP’s Director of Science and Technology introduced the session with a presentation on fusion, STEP, plus supporting site information about West Burton where the prototype fusion energy power plant will be built.

    Presenting from the local district councils, Julie Beresford Head of Growth and Economic Prosperity and Sally Grinrod-Smith Director of Planning, Regeneration and Communities demonstrated support for STEP from nearby local authorities and their fluid approach to hosting STEP. They covered the history of the area and identified the socio-economic opportunities that will result from the STEP Programme in the future.

    Since the early days of the programme, the STEP team has worked closely in partnership with district and county councils. Both Julie and Sally observed the high levels of engagement on the day and commented on the positive nature of the event and the numerous business enquiries that have followed.

    Commercial team members Andrew Atkinson and Ryan Cload represented the supply chain at STEP. Andrew commented:

    It’s very important to the local economy that STEP brings opportunities to the area. Our initial priority is to establish what services we have on our doorstep and create the right channels of engagement to enable effective ways of future working with local businesses. This event was a great way to share information about STEP and it was encouraging to see the networking that took place amongst the local business representatives.

    Helping to bring the work of STEP to life, a series of local case studies were given, to explore the early relationships already established with STEP. Clive Anderson from Elite Signs of Gainsborough commented on his long-established relationship with the site and what it meant to the business to be able to continue working with the STEP team. He welcomed future requests as the site works continue to grow. Photographer Chris Vaughan’s work was showcased, and he commented that he felt part of the team when commissioned to work for STEP.

    The STEP team always create time for questions when spending time in the community to aid understanding of fusion. These covered the technical side of fusion, site transport, water licences, apprentices, skills and the processes behind tenders for work. The website also includes an area with frequently asked questions which are updated regularly.

    Following the presentations, a speed-dating session was held with the local businesses to give them a chance to share information about their companies, the nature and size of their business and plans for future growth. The range of industry was vast and covered engineering, skills, security, transport, accommodation, catering, manufacturing, materials and many more.

    For those who may have missed this event, future similar events are planned for the local area with all events published and shared with people who have registered their interest on our website: step.ukaea.uk. You can also follow our social channels @STEPtoFusion.

    Notes to Editors

    STEP is a major technology and infrastructure programme to build the UK’s first prototype fusion power plant and to create a UK-led fusion industry. STEP will demonstrate net energy, fuel self-sufficiency and a route to commercialisation. This will catalyse new ideas and technology that will benefit multiple industries and help secure our future on this planet. STEP is a government-funded industry partnership programme led by UK Industrial Fusion Solutions, a wholly owned subsidiary of UKAEA Group.

    The West Burton site was selected in October 2022 as the home for STEP. The site is currently a demolition zone, with extensive works to decommission the former coal-fired power station, alongside this activity, the STEP Programme is preparing site characterisation information in readiness for construction.

    Local Authorities in the area recently reported on the potential local impact of jobs and investment in the area. Headlines from Nottinghamshire County Council’s ‘Newsroom’ available here.

    Updates to this page

    Published 2 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: MEDIA ADVISORY: Energy Secretary Wright to Travel to Colorado, Visit National Lab

    Source: US Department of Energy

    U.S. Secretary of Energy Chris Wright will travel to Colorado this week to visit the Energy Department’s National Renewable Energy Laboratory’s campus in Golden, Colorado and deliver remarks to staff.

    Energy.gov

    April 1, 2025

    WASHINGTON — U.S. Secretary of Energy Chris Wright will travel to Colorado this week to visit the Energy Department’s National Renewable Energy Laboratory’s (NREL) campus in Golden, Colorado and deliver remarks to staff. The visit continues Secretary Wright’s nationwide tour of DOE’s 17 National Labs and will be the fourth National Lab the Secretary has visited.

    Following the tour, Secretary Wright will hold a press availability. Media wishing to attend should RSVP to the emails provided below.
     

    Who: Secretary of Energy Chris Wright
    What: Media Availability
    When:

    Thursday, April 3, 2025  

    Media should arrive no later than 2:00 pm MT.
    Where:

    National Renewable Energy Laboratory (NREL) – Golden Campus

    Additional details will be provided upon RSVP.

    Media wishing to attend must RSVP to doenews@hq.doe.gov and David.Glickson@nrel.gov no later than 6 PM MT on Wednesday, April 2nd to receive further details and access instructions.

    Energy Department Takes Action to Remove Barriers for Requests to LNG Export Commencement Date Extensions

    MIL OSI USA News –

  • MIL-OSI NGOs: Speeding backwards: Greenpeace slams Coalition commitment to neuter vehicle efficiency standards

    Source: Greenpeace Statement –

    MELBOURNE, 2 APRIL 2025–Greenpeace Australia Pacific has slammed the Coalition’s promise to neuter the New Vehicle Efficiency Standard (NVES) by removing fines from the scheme as policy that bends the knee to the petrol car lobby while costing Australians and increasing carbon pollution

    “The NVES finally brought Australia onto the same playing field as other major countries, which have strong standards for the efficiency of cars. Sabotaging this policy by removing penalties shunts us to the back of the pack once again,” said Joe Rafalowicz, Head of Climate and Energy, Greenpeace Australia Pacific. 

    “Removing the thing that makes the NVES an effective policy—penalties for car importers insistent on dumping their most polluting cars in Australia—is a capitulation to the petrol car lobby and overseas companies like Mitsubishi Motors, at the expense of Australian drivers and businesses. 

    “The NVES will prevent 80 million tonnes of car-related carbon pollution from entering our atmosphere by 2035—as much as the entire state of Victoria emits in a year.

    “Emissions from petrol and diesel cars constitute a third of all greenhouse gases in Australia, and the sector is on track to be the top polluter in our economy. There are already low-emissions vehicles for sale around the world that address this challenge. 

    “Giving foreign car companies a free pass to continue selling polluting cars in Australia, which they cannot sell anywhere else, pushes the burden of reducing emissions onto other Australian industries and businesses. 

    “This ill-considered policy U-turn, which flies in the face of a mountain of evidence from around the world on the benefits of strong efficiency standards, will also make it harder for Australians to access more affordable, cheaper-to-run electric cars. 

    “It will keep more polluting cars on our roads for longer, prolonging Australians’ exposure to toxic tailpipe emissions while other countries move quickly towards cleaner, safer cars on their streets. 

    “Removing fines from the NVES and making it essentially unenforceable is like selling a car without brakes, and simply hoping it will stop when needed. Instead of removing this important enforcement mechanism, it is important to ensure that Australia’s car industry stays the course towards lower emissions, and cleaner, more affordable cars.

    “Greenpeace Australia Pacific fought hard to secure this essential legislation, which brought Australia in line with other major economies. We will resist the Coalition’s plans to neuter this legislation every step of the way.” 

    —ENDS—
    For more information or to arrange an interview, please contact Vai Shah on 0452 290 082 / [email protected].

    MIL OSI NGO –

  • MIL-OSI NGOs: Week 3 of “Dirty Dems” campaign exposes the Rubio sisters

    Source: Greenpeace Statement –

    WEST COVINA, CA — (April 1, 2025) As part of the ongoing “Dirty Dems” campaign, Greenpeace USA, in collaboration with the California Working Families Party and Courage California, continues to hold California State legislators accountable for their damaging connections to the oil and gas industry and their failure to support critical climate, economic justice, and progressive priorities.

    This week, the spotlight is on Senator Susan Rubio and Assembly Member Blanca Rubio, who represent Southern California districts, including West Covina, Ontario, Pomona, Baldwin Park, and Glendora. Both have failed to take meaningful action to protect their communities from the harmful impacts of the oil and gas industry after receiving substantial campaign contributions from fossil fuel interests.

    Amy Moas, Ph.D., Greenpeace USA Senior Climate Campaigner, said: “Senator Susan Rubio and Assembly Member Blanca Rubio are textbook examples of ‘Dirty Dems’ who have chosen corporate donors over the people they are supposed to represent. Their failure to take decisive action on critical climate, health, and economic justice issues is a betrayal of their constituents and the values we need in our leaders.”

    Senator Susan Rubio

    Senator Susan Rubio, representing the 22nd Senate District in Southern California, has been serving in the California State Legislature since 2018. During her time in office, Rubio has accepted over $116,000 in campaign contributions from the oil and gas industry, with $74,500 coming in the most recent legislative session alone. She was initially elected with the help of an independent campaign fueled by more than $2.8 million in oil money, illustrating the extent of her ties to the fossil fuel industry.

    Senator Rubio has a troubling pattern of abstaining from votes on key environmental justice and progressive priority bills. Her failure to take a stand on critical climate and public health issues, such as SB 1137 (a bill to reduce pollution from oil drilling in neighborhoods) and AB 1167 (a bill to ensure oil companies pay to clean up idle wells), shows her disregard for the health and safety of her constituents.

    Despite fluctuating scores across some progressive scorecards, Rubio has earned failing grades from groups like Courage California, Sierra Club, and California Environmental Justice Alliance during her time in office. In fact, she consistently scored among the very lowest of Democrats in the State Legislature on California Environmental Voters scorecard every year since first being elected.

    Assembly Member Blanca Rubio “Big Oil Blanca”

    Assembly Member Blanca Rubio, representing the 48th District of Los Angeles’ eastern San Gabriel Valley, has taken over $240,000 in campaign contributions from the oil and gas industry, including $45,000 in the most recent session. In addition, she has accepted gifts, including sponsored travel from the California Independent Petroleum Association, an industry trade group. These financial ties have earned her the nickname “Big Oil Blanca” from critics.

    Assembly Member Rubio has earned failing grades from environmental and progressive organizations year after year. Since 2019, she has consistently received F grades from Courage California, California Environmental Voters, and the Sierra Club. She has also never scored higher than a D on the California Environmental Justice Alliance scorecard.

    Blanca Rubio has purposefully skipped votes on critical bills aimed at reducing harmful pollutants, such as AB 674, which would address air quality issues related to asthma and cancer-causing chemicals, and SB 1137, which would regulate the harmful impacts of oil drilling in residential areas. Her absences extend to key economic justice measures as well, including bills like AB 2584, which would limit big corporate control of housing, and AB 2666, which would protect Californians from inflated utility rates.

    Holding the Rubio Sisters Accountable

    Both Senator Susan Rubio and Assembly Member Blanca Rubio are the third and fourth Dirty Dems to be named, joining Stephanie Nguyen and Mike Gipson on the growing list. These Dirty Dems have repeatedly chosen to prioritize corporate donations over the well-being of their constituents, but this campaign  will continue to expose these harmful practices and demand that these legislators be held accountable for their repeated failure to act to protect the communities they represent.

    Contact: Gigi Singh, Communications Manager at Greenpeace USA
    (+1)  631-404-9977, [email protected]  

    Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.

    MIL OSI NGO –

  • MIL-OSI Australia: Measles alert for Sydney’s Eastern Suburbs

    Source: Australian Green Party

    NSW Health is advising people to be alert for signs and symptoms of measles after being notified of a confirmed case who was infectious while visiting several locations in eastern Sydney.
    The source of the infection is unclear and is being further investigated. 
    People who attended the following locations should watch for the development of symptoms. These locations do not pose an ongoing risk.
    Sunday 30 March

    The Bagel Co, 475 Old South Head Rd, Rose Bay, from 7:30am to 8:15am
    Easts Basketball League at Waverley College, from 9:10am to 10:30am
    Easts Basketball League at Rose Bay Secondary College, from 2pm to 3:40pm.

    ​Tuesday 1 April

    TerryWhite Chemmart Gaslight Rose Bay, 484 Old South Head Rd, Rose Bay, from 5pm to 5:30pm.

    South Eastern Sydney Local Health District Public Health Physician, Dr Anthea Katelaris, said if you visited the above locations at those times you should monitor for symptoms.
    “Measles is a vaccine preventable disease that is spread through the air when someone who is infectious coughs or sneezes,” Dr Katelaris said.
    “Symptoms to watch out for include fever, runny nose, sore eyes, and a cough, usually followed three or four days later by a red, blotchy rash that spreads from the head to the rest of the body.
    “It can take up to 18 days for symptoms to appear after an exposure, so it’s important for people who visited these locations to look out for symptoms up until 19 April 2025.
    “It’s important for people to stay vigilant if they’ve been exposed, and if they develop symptoms, to please call ahead to their GP or emergency department to ensure they do not spend time in the waiting room with other patients.
    “We want to remind the community to make sure they are up to date with their vaccinations. This should be a reminder for everyone to check that they are protected against measles, which is highly infectious. 
    “Anyone born after 1965 needs to ensure they have had two doses of measles vaccine. This is especially important before overseas travel, as measles outbreaks are occurring in several regions of the world at the moment.
    “In addition, people at these locations who are immunosuppressed, pregnant, or anyone, including babies, who has not received a measles vaccine may benefit from preventative treatment. People in these groups should speak to their GP urgently or contact their local public health unit on 1300 066 055.”
    The measles-mumps-rubella (MMR) vaccine is safe and effective and is given free for children at 12 and 18 months of age. It is also free in NSW for anyone born after 1965 who hasn’t already had two doses.
    Children under the age of 12 months can have their first dose of MMR up to six months earlier if they are travelling to areas with a high risk for measles. Parents should consult their GP.
    People who are unsure of whether they have had two doses should get a vaccine, as additional doses are safe. This is particularly important prior to travel. MMR vaccine is available from GPs (all ages) and pharmacies (people over 5 years of age).
    For more information on measles, view the measles factsheet.
    If you, or a loved one, is experiencing measles symptoms, or have questions about measles, please call your GP or Healthdirect ​​​on 1800 022 222.
     ​

    MIL OSI News –

  • MIL-OSI Economics: AGA new UC guidance will reshape market access and therapeutic competition, says GlobalData

    Source: GlobalData

    AGA new UC guidance will reshape market access and therapeutic competition, says GlobalData

    Posted in Pharma

    The American Gastroenterological Association (AGA) has recently released a major update to its clinical guideline for the pharmacological management of moderate-to-severe ulcerative colitis (UC). The new “living” guideline strongly recommends the early use of biologics and small-molecule therapies following 5-ASA failure, a significant departure from the traditional step-up approach. It marks a turning point in UC treatment strategy, with major implications for market access, prescribing behavior, and therapeutic competition, says GlobalData, a leading data and analytics company.

    As the first “living” guideline for UC, the AGA will update recommendations semiannually, allowing rapid integration of new evidence and emerging therapies. For pharmaceutical companies, this creates both opportunity and urgency: drugs that demonstrate clear clinical benefit could gain swift recognition, while those without competitive differentiation may be deprioritized in treatment algorithms.

    Sravani Meka, Senior Pharmaceutical Analyst at GlobalData, comments: “This guideline places clinical efficacy front and center. It gives clinicians the confidence to initiate treatment with the most effective advanced therapies early in the disease course, rather than cycling through older, less effective options.”

    Ten agents were granted strong recommendations, including AbbVie’s upadacitinib and risankizumab, Pfizer’s etrasimod, J&J’s guselkumab, as well as legacy biologics like infliximab, vedolizumab, and ustekinumab. The guideline also supports biosimilars and the use of subcutaneous infliximab and vedolizumab for maintenance. Meanwhile, adalimumab was downgraded to a conditional recommendation due to lower comparative efficacy marking a significant shift for one of the most widely used therapies in the past decade.

    GlobalData’s Ulcerative Colitis: Eight-Market Drug Forecast and Market Analysis (March 2023) report projected the UC market across the US, EU5, Japan, and Canada to grow from $7.3 billion in 2021 to $10 billion in 2031, driven by pipeline launches and expanded use of advanced therapies.

    Meka explains: “These forecasts may need to be revised. The AGA’s new recommendations will likely accelerate uptake for newer therapies such as Rinvoq (upadacitinib), Skyrizi (risankizumab), Velsipity (etrasimod), and Tremfya (guselkumab), potentially reshaping commercial trajectories laid out in earlier forecasts.”

    The guideline may also influence payer strategy, particularly in the US, where step therapy policies have long mandated TNF-failure before newer options are covered.

    Meka concludes: “This is the clearest signal, yet that step therapy must evolve. With the AGA now endorsing multiple newer agents as high-efficacy first-line options, payers will face mounting pressure to align coverage decisions with evidence-based care.”

    MIL OSI Economics –

  • MIL-OSI Submissions: Universities – NTU Singapore scientists create ‘fungi tiles’ with elephant skin texture to cool buildings

    Source: Nanyang Technological University, Singapore (NTU Singapore)

    Proof-of-concept shows promise as a sustainable passive cooling solution

    A team of scientists led by Nanyang Technological University, Singapore (NTU Singapore) have developed ‘fungi tiles’ that could one day help to bring the heat down in buildings without consuming energy.

    These wall tiles are made from a new biomaterial combining fungi’s root network – called mycelium – and organic waste. Earlier research has shown that mycelium-bound composites are more energy efficient than conventional building insulation materials such as expanded vermiculite and lightweight expanded clay aggregate.

    Building on this proven insulating property, the NTU Singapore team worked with local ecology and biomimicry design firm bioSEA to add a bumpy, wrinkly texture to the tile, mimicking an elephant’s ability to regulate heat from its skin. Elephants do not have sweat glands and rely on these wrinkles and crevices on their skin to regulate heat.

    In laboratory experiments, the scientists found that the cooling rate of their elephant skin-inspired mycelium tile was 25 per cent better than a fully flat mycelium tile, and the heating rate was 2 per cent lower. They also found that the elephant skin-inspired tile’s cooling effect improved a further 70 per cent in simulated rain conditions, making it suitable for tropical climates.

    The construction industry accounts for nearly 40 per cent of all energy-related emissions worldwide, so the search for eco-friendly insulation materials is critical. NTU’s Associate Professor Hortense Le Ferrand, who led the study, said mycelium-bound composites could be a promising alternative.

    Assoc Prof Le Ferrand, who holds a joint appointment at NTU’s Schools of Mechanical and Aerospace Engineering (MAE) and Materials Science and Engineering (MSE), said: “Insulation materials are increasingly integrated into building walls to enhance energy efficiency, but these are mostly synthetic and come with environmental consequences throughout their life cycle. Mycelium-bound composite is a biodegradable material that is highly porous, which makes it a good insulator. In fact, its thermal conductivity is comparable to or better than some of the synthetic insulating materials used in buildings today.

    “We worked closely with bioSEA to integrate natural design principles that can optimise its performance as a building insulator. The result is a promising proof of concept that takes us one step closer to efficient, sustainable, and cheaper passive cooling solutions in hot and humid conditions.”

    Dr Anuj Jain, the Founding Director of bioSEA explained the inspiration behind the elephant-linked innovation: “Elephants are large animals that live in hot and sometimes humid tropical climates. To withstand the heat, elephants evolved to develop a skin that is heavily wrinkled which increases water retention and cools the animal by evaporation. We were inspired by how an elephant could cool itself in hot weather without sweat glands, and tried to see how we could replicate the same cooling mechanisms of shading, trapping cool air, and increasing the surface area for water to evaporate.”

    This study, published in Energy & Buildings in February, builds on Assoc Prof Le Ferrand’s work on possible uses for mycelium-bound composites, such as for greener construction materials.

    Turning fungi into a functional material

    Mycelium-bound composites are created by growing fungi on organic matter such as sawdust or agricultural waste. As the fungus grows, it binds the organic matter into a solid, porous composite.

    For this study, the NTU scientists used the mycelium of oyster mushroom (Pleurotus ostreatus) – a commonly found fungus – and bamboo shavings collected from a furniture shop.

    These two components were mixed with oats and water and packed into a hexagonal mould with an elephant skin-inspired texture designed by bioSEA using computational modelling and algorithms to select the optimal design.

    The mycelium tiles were left to grow in the dark for two weeks, then removed from the hexagonal mould and left to grow in the same conditions for another two weeks.

    Finally, the tiles were dried in an oven at 48°C for three days. This final step removes any remaining moisture, prohibiting further mycelial growth.

    Elephant skin-inspired texture improves heat regulation

    Previous research has shown that mycelium-bound composites have thermal conductivity comparable to conventional building insulation materials like glass wool and extruded polystyrene.

    To assess how an elephant skin-inspired texture affects the mycelium tile’s heat regulation, the scientists heated mycelium tiles on a 100°C hot plate for 15 minutes and tracked temperature changes using an infrared camera.

    They found that the elephant skin-inspired tile absorbed heat more slowly. When its bumpy textured surface faced the heat source, its temperature increased by 5.01°C per minute, compared to 5.85°C per minute when its flat surface was exposed to heat. As a control, the scientists also heated a flat mycelium tile and found it gained 5.11°C per minute.

    To measure the tile’s cooling efficiency, the scientists heated one side at 100°C for 15 minutes, then exposed it to ambient conditions (22°C, 80% humidity) and measured temperature changes on the tile’s opposite side.

    The elephant-skin-inspired tile cooled fastest when heated from the flat side, losing 4.26°C per minute. When heated from the textured side, its flat side lost 3.12°C per minute. The fully flat control tile lost 3.56°C per minute.

    Based on these findings, the scientists recommended installing the tiles with the flat side adhered to the building façade and the textured surface exposed to external heat for optimal thermal performance (See image in Notes to Editor for how tiles could be used).

    Tiles perform better in wet weather

    To simulate the effect of rain on the tiles, the scientists heated the tiles as described earlier. While allowing them to cool, the scientists sprayed water onto the tiles at one-minute intervals over a 15-minute period.

    When misted on its bumpy side, the elephant skin-inspired tile lost 7.27°C per minute – a 70 per cent improvement compared to its performance in dry conditions.

    The scientists attributed this effect to the mycelium-bound composite’s hydrophobic nature. “The fungal skin that develops on the tile’s surface repels water, allowing droplets to remain on the surface rather than roll off immediately. This promotes evaporative cooling, increasing the cooling rate,” explained Eugene Soh, an NTU researcher and the study’s first author.

    Building on this proof of concept, the scientists are now exploring ways to enhance the tiles for real-world use, such as increasing their mechanical stability and durability or using different mycelium strains.

    The scientists are also working with local start-up Mykílio to scale up the size of the mycelium tiles and conduct outdoor tests on building façades.

    A challenge they foresee in scaling up the production of the tiles is the time needed to grow the mycelium tiles. While it requires minimal energy resources, the process takes three to four weeks.

    The scientists also expect high inertia towards using mycelium tiles as an alternative construction material due to the well-established infrastructure in production, storage, and transportation of common insulating materials.

    Said Assoc Prof Le Ferrand: “We’ve developed a promising eco-friendly alternative that transforms waste into a valuable resource while rethinking conventional thermal management materials. This opens the pathway for more elephant skin-inspired designs and the use of different mycelium strains to overcome the challenges that come with using mycelium tiles as an alternative construction material.”

    Notes

    The research paper titled “Biodegradable mycelium tiles with elephant skin inspired texture for thermal regulation of buildings” was published in Energy and Buildings in Volume 328, 1 February 2025, 115187

    DOI: 10.1016/j.enbuild.2024.115187  

    MIL OSI – Submitted News –

  • MIL-OSI USA: FACT SHEET: Trump, Musk, & RFK Jr. Hollow Out HHS, Threatening Americans’ Health and Wellbeing

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Trump carries out mass firings across HHS and subagencies today
    ICYMI: Murray, Former Health Department Leaders, Sound Alarm on Trump and RFK Jr. Gutting HHS
    ICYMI: Murray, DeLauro, Baldwin Demand Answers on RFK Jr.’s Plans to Gut HHS
    Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and a senior member and former chair of the Senate Committee on Health, Education, Labor, and Pensions (HELP), responded to the Trump administration’s mass firings across the Department of Health and Human Services (HHS) and its many subagencies, which are responsible for protecting Americans’ health and delivering essential health and social services. 
    “Today, two billionaires are making good on their vow to take a wrecking ball to the Department of Health and Human Services and put Americans’ health and wellbeing at serious risk–and Republicans are letting them,” said Senator Murray. “These firings make a lot of sense if you believe measles spreading like wildfire is good–or think we should be slashing cancer research. While Republicans work to pass more tax breaks for billionaires, Trump, Musk, and RFK Jr. are ripping essential health services away from the American people and decimating our country’s ability to prevent outbreaks and keep families safe. There’s no two ways about it: this is the type of carelessness that gets people killed.”
    Late last week, Secretary Robert F. Kennedy Jr. announced plans to unilaterally push out 20,000 HHS employees (a ~25% reduction) and to dramatically reorganize and hollow out the Department–in clear violation of annual spending laws, including the one that Congress passed and was signed into law just weeks ago. 
    On Monday, Senator Murray led a letter to Secretary Kennedy demanding more information about the sweeping, devastating plans–noting that if this administration is truly committed to transparency, as it claims to be, and is confident its drastic plans will protect Americans’ health, it should be eager to share basic information about them. Thus far, however, the administration has provided no additional details to Congress or the public about its mass firings and reorganization.
    This morning, thousands of health officials woke up to emails notifying them that they were being fired. In addition to the mass firings, HHS says it will eliminate 5 of 10 regional offices, trim 28 divisions into 15, and consolidate and move essential functions to other agencies.
    Since taking office, Trump, Musk, and RFK Jr. have taken a sweeping array of actions to halt HHS’ essential, lifesaving work and diminish its capacity to keep families healthy. It has systematically choked off lifesaving medical research, and just last week, Trump ripped away resources communities nationwide are using to address bird flu, measles, the fentanyl epidemic, the mental health crisis, and more. 
    FOOD AND DRUG ADMINISTRATION (FDA)
    The FDA protects Americans’ health by ensuring the safety and effectiveness of medicines, biologics, and medical devices–and regulating food, cosmetics, and tobacco products. 
    The Trump administration announced last week it will cut 3,500 employees at the FDA. It has now pushed out senior leaders across the agency focused on food, drug, and medical device policy, as well as the head of the Center for Tobacco Products and the head of the Center for Biologics Evaluation and Research. Among the thousands of FDA staff fired by the Trump administration are experts who manage the review of new applications for drugs, vaccines, and medical devices–which will delay approval of new, potentially life-changing products that patients are counting on. Others reportedly pushed out include veterinary medicine experts working on bird flu preparedness and response, the top Type 1 Diabetes expert, and regulatory staff focused on negotiations on User Fee Agreements that fund some of FDA’s work–among many others. 
    “Americans depend on the FDA every time they sit down for a meal or pick up a prescription–but that’s no matter: Trump and Musk are hollowing out the agency and putting their health at risk. Let’s be crystal clear: there’s nothing strategic about firing thousands of people who inspect our food and ensure our prescriptions and babies’ formula are safe. While they work overtime to pass more tax breaks for themselves, Trump, Musk, and RFK Jr. are insisting on senseless cuts to all but destroy FDA, jeopardizing Americans’ safety and leaving patients waiting longer for lifesaving drugs to get to market,” said Senator Murray.
    CENTERS FOR DISEASE CONTROL AND PREVENTION (CDC)
    CDC is charged with protecting the American people from health threats, including infectious diseases like measles and bird flu.
    The Trump administration announced plans to force out 2,400 employees at CDC. 
    Today, scores of CDC staff woke up to emails notifying them they are being fired. This includes mass reductions in force across most CDC centers, which will prevent the critical work CDC is responsible for from being carried out. Staff were fired en mass across CDC offices for domestic violence prevention, Smoking and Health, HIV prevention, Tuberculosis elimination, disability and health, childhood lead poisoning, asthma control, among many others. Trump has even reportedly fired the entire team focused on assistive reproductive technology like IVF–despite his wild claims to be the “fertilization president.”
    The Trump administration has also reportedly fired nearly two-thirds of the CDC National Institute for Occupational Safety and Health (NIOSH) staff, or nearly 900 people. The Trump administration is now, for example, apparently working to shutter the CDC NIOSH Spokane Research Laboratory in Washington state, firing dozens of workers today who study how to protect workers’ health and safety on the job, particularly those in fields like mining, the maritime industry, and firefighting, where workers face elevated risks.
    “Decimating the CDC is a great way to make our communities less safe and less prepared to respond quickly and effectively when diseases–like measles and bird flu–put lives and livelihoods in danger. When the next pandemic hits and America is unprepared, it will be thanks to Donald Trump and Republicans destroying our public health infrastructure. Decimating the agency that helps prevent workplace injuries and illnesses is a slap in the face to workers across America–and will threaten the safety of firefighters, miners, construction and agricultural workers, and so many others while on the job,” said Senator Murray.
    NATIONAL INSTITUTES OF HEALTH (NIH)
    NIH is the nation’s premier biomedical research agency. Each year, NIH supports biomedical research that produces life-changing and, in many cases, lifesaving treatments and cures.
    The Trump administration has already pushed out top experts, scientists, and senior leadership, well over 1,100 NIH employees, and systematically choked off billions of dollars in NIH funding for new treatments and cures for devastating diseases like Alzheimer’s and cancer.
    Now, it is firing even more NIH scientists and staff–including veterans and more than 1,300 additional employees as of this afternoon–decimating the agency. President Trump and RFK Jr. are pushing out senior NIH leadership, including Institute and Center Directors at the Fogarty International Center (FIC), the National Institute of Allergy and Infectious Diseases (NIAID), the Eunice Kennedy Shriver National Institute of Child Health and Human Development (NICHD), the National Human Genome Research Institute (NHGRI), the National Institute of Nursing Research (NINR), and the National Institute on Minority Health and Health Disparities (NIMHD).  
    “Since taking office, Trump has systematically worked to break the NIH–he’s taking patients’ hopes for new treatments and cures and throwing them right in the shredder. These sweeping firings at NIH will set back our efforts to discover medical breakthroughs that save lives by decades. And they won’t just delay research, they will halt clinical trials in their tracks and cut patients off from care,” said Senator Murray.
    CENTERS FOR MEDICARE AND MEDICAID SERVICES (CMS)
    CMS helps ensure over 100 million Americans have access to affordable, high-quality health insurance by overseeing Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), and Affordable Care Act marketplaces. 
    The agency has long been understaffed and under-resourced, including for essential functions like nursing home safety inspections and protecting Americans from surprise medical bills. Nonetheless, Trump and Musk are pushing even more people out–and jeopardizing Americans’ health care in doing so. Trump announced that 300 employees at CMS will be cut. 
    “The American people are looking to their leaders to make sure they can get quality, affordable health care–instead, two billionaires are gutting the very agency that helps over 100 million Americans get health care. Undercutting CMS is an attack on Americans’ health care–full stop. Firing the people who keep our systems running, who ensure long-term care facilities are safe, and prevent health care companies from ripping people off makes no sense and will hurt patients nationwide,” said Senator Murray.
    INDIAN HEALTH SERVICE (IHS)
    IHS is responsible for providing direct medical and public health services to members of federally recognized Tribes, and it is the principal federal health care provider and health advocate for Tribal communities across the country. 
    IHS is already struggling to provide quality health care to 2.8 million Americans who rely on its services, and the actions being taken by the Trump administration to freeze federal hiring, reduce office space, and reduce the HHS workforce that IHS relies on are making matters worse. Chronic understaffing continues to plague the IHS, and despite some hiring exemptions for doctors and nurses, quality health care can’t be delivered without sufficient administrative personnel at HHS and at IHS hospitals and health clinics. 
    Adding to the IHS’ staffing struggles, the Trump administration is arbitrarily canceling leases that house IHS administrative offices across all service areas and its medical supply warehouse, which stockpiles and distributes critical medical supplies to all IHS hospitals and health clinics. IHS needs more resources and staffing to fulfill its mission, not less. 
    “Trump and Musk are leaving the Indian Health Service and our Tribes in the dust–freezing hiring at an already-strapped agency, canceling leases it counts on, and now, gutting essential HHS functions that enable IHS to serve patients. They are breaking government with no idea of what they are doing and no regard for who gets hurt–all while they enrich themselves,” said Senator Murray.
    SUBSTANCE ABUSE AND MENTAL HEALTH SERVICES ADMINISTRATION (SAMHSA)
    SAMHSA is charged with improving services and support available to people across the country for substance use disorder and mental health. The agency plays a leading role in tackling the fentanyl and opioid crisis, and it oversees the 988 Suicide and Crisis Lifeline. 
    The Trump administration has announced plans to eliminate SAMHSA and collapse it into a new “Administration for a Healthy America.” But it has not provided any additional details on its illegal reorganization or how it will ensure SAMHSA’s statutorily-mandated, lifesaving functions would be carried out. Today, the Trump administration made more deep cuts to SAMHSA’s staff, which will result in the agency’s staffing levels being reduced by fifty percent since January–weakening the ability of communities to respond to the mental health and substance use crises. 
    “Just as we are finally starting to make progress getting opioid overdose deaths to trend down nationally, Trump and Musk have decided to scrap the agency responsible for our national response to the epidemic. These billionaires believe our country can afford to pay for more tax breaks for them but cannot afford to keep up the fight against the opioid epidemic. These chaotic, senseless moves will undermine federal support for all the work our communities on the frontlines are doing to tackle the opioid and mental health crises–and save lives,” said Senator Murray.
    ADMINISTRATION FOR CHILDREN AND FAMILIES (ACF)
    ACF is responsible for administering a variety of programs to help children and families thrive–including the primary federal child care grant program, Head Start, family violence prevention programs, and Low Income Energy Assistance Program (LIHEAP), among many others. 
    Today, the Trump administration made deep cuts to the staff responsible for carrying out these programs, threatening the services and essential oversight families count on. The administration also shuttered half of the regional offices for the Office of Head Start, which are charged with ensuring Head Start services delivered to families are high-quality, without any explanation of how it will fulfill its mission and continue serving children and families without these offices or staff. Trump also gutted the Office of Community Services, which administers the LIHEAP program to help low-income individuals and families afford to heat and cool their homes and administers the Community Services Block Grant program, which helps communities nationwide fight poverty.
    “While the child care crisis crunches families’ budgets, Trump and Musk are focused on firing the very people who help make sure there are safe, affordable child care options available to families in every part of the country,” said Senator Murray. “Decimating this agency may well mean child care and Head Start centers don’t get the funding they need to keep their doors open, and shuttering regional offices will threaten families’ access to quality and reliable Head Start services. These firings will certainly risk kids’ safety–because that’s what happens when you get rid of the people who monitor centers’ care. These billionaires are ripping the rug out from under families just as they seek to give themselves more tax breaks.”
    ADMINISTRATION FOR COMMUNITY LIVING (ACL)
    ACL provides unique and critical support to help ensure seniors and Americans with disabilities can live independently and with the same opportunities as others in their communities. ACL programs improve access to health care and long-term care supports, fund essential services like congregate and home-delivered meals and respite care, and invest in essential research and innovation to better support seniors and Americans with disabilities.
    The Trump administration announced plans to eliminate ACL in clear violation of annual appropriations law that explicitly funds ACL–and has provided no additional details on how its essential, statutorily-mandated functions will continue without interruptions that seriously hurt seniors and people with disabilities.
    Today, Trump gutted ACL, firing scores of staff and leaving the administration of these critical programs in jeopardy.
    “Trump and Musk are ripping the rug out from underneath seniors and Americans with disabilities by gutting the agency that helps them get the support they need to not only live independently, but also thrive in their communities,” said Senator Murray.
    ADMINISTRATION FOR STRATEGIC PREPAREDNESS AND RESPONSE (ASPR)
    ASPR leads our country’s medical and public health preparedness for, response to, and recovery from disasters and public health emergencies–coordinating planning and response for when fires erupt, pathogens like COVID or bird flu emerge, and so much more.
    The Trump administration has announced that ASPR will be consolidated into CDC, and today laid off a number of staff, including staff for the Strategic National Stockpile.
    “As bird flu rages and measles spreads across the country in an outbreak with little recent precedent, apparently Donald Trump thinks it’s a good idea to destroy the very agency tasked with leading our public health preparedness efforts. Firing this staff puts our economy and our families in serious danger,” said Senator Murray.
    HEALTH RESOURCES AND SERVICES ADMINISTRATION (HRSA)
    HRSA is charged with improving access to care for vulnerable and underserved populations. The agency runs critical programs to bolster the nation’s health workforce, improve maternal and child health, support high-quality care in community health centers and Ryan White HIV/AIDS clinics, address rural health needs, modernize the nation’s organ transplant system, and more.
    The Trump administration has announced it plans to eliminate HRSA and collapse it into a new “Administration for a Healthy America” but has not provided any additional details on how this reorganization might work and how it will ensure HRSA’s statutorily-mandated functions will be carried out.
    Today, the Trump administration reportedly fired hundreds of staff who provide support to the nation’s 1,400 community health centers, which operate more than 15,000 sites serving millions of patients across the U.S. regardless of their ability to pay. Others fired include those working on HRSA’s maternal and child health programs, who oversee states’ block grants and operate the Maternal, Infant, and Early Childhood Home Visiting (MIECHV) Program to support mothers, children, and families. Staff were also fired from HRSA’s health workforce programs, where they work to engage with communities nationwide to address shortages of doctors and nurses, and provide scholarships and loan repayment for those working in high-need communities.
    “It defies logic to get rid of the people who help strengthen our nation’s health workforce, support our nation’s health centers, and work to ensure children grow up healthy. These reckless firings and thoughtless reorganization will set back efforts to improve maternal care, help Americans in rural areas get basic health services, and so much more,” said Senator Murray.

    MIL OSI USA News –

  • MIL-OSI: Haffner Energy successfully achieves €7M Capital Increase through ABSA issuance with preferential subscription rights (PSR)

    Source: GlobeNewswire (MIL-OSI)

    Haffner Energy successfully achieves €7M Capital Increase through ABSA issuance with preferential subscription rights (PSR)

    Vitry-le-François, France – April 2, 2025, 08:00 am (CET) – Haffner Energy (ISIN: FR0014007ND6 – Ticker: ALHAF) (the “Company“) announces the success of its €6,995,496M cash Capital Increase with preferential subscription rights (the “PSR“) through the issuance of 17,488,744 New Shares with share subscription warrants (the “ABSA” or “Warrants”) (the “Capital Increase“). The free float share is extended to 24.75% of the capital. 

    Philippe Haffner, Co-Founder and Chief Executive Officer of Haffner Energy, said:

    “Thanks to the renewed support of many of our long-standing shareholders, whom we thank, and the arrival of new investors, this Operation reached our 7-million-euro target. This reflects the confirmed confidence in our value proposition and in the evolution in our positioning: well beyond hydrogen, our presence in four markets enables us not only to significantly broaden our addressable market and better diversify risks, but also to position ourselves on more immediate opportunities.

    This Capital Increase gives us a financing horizon of 12 months, sufficient to cover the ramp-up phase, irrespective of revenues from expected orders. This gives us the resources we need to roll out our roadmap and accelerate our development in our strategic markets, in particular by activating the full potential of our Marolles site.

    The transaction will also enable us to double the proportion of free float in the capital, while limiting the dilutive impact for shareholders who have not subscribed (28% to date).

    The Warrants (BSA) allocated on the occasion of the Capital Increase, exercisable from April 3, 2026, for a period of six months, are likely to generate up to 7 million euros in additional resources for Haffner Energy from April 2026. We are confident that the Company’s momentum will make the exercise of these warrants very attractive.

    We are convinced that the major differentiating factors we bring to the table, combined with our technological maturity, place us on a path of sustainable growth. With a sales pipeline of 1.55 billion euros, which translates into a weighted sale pipeline of 388 million euros, our objectives are to reach breakeven EBITDA by March 31, 2026. We also aim to position Haffner Energy as a leader in the global energy transition in its market segments, thanks to our unique expertise in creating value from biomass.”

    Results of the Capital Increase with PSR

    At the end of the subscription period ending March 28, 2025, the irreducible demand amounted to 10,253,133 shares, i.e. 58.63% of the ABSA to be issued; the reducible demand, served entirely, represented 4,657,094 ABSA, i.e. 26.63% of the ABSA to be issued. Finally, subscriptions on an unrestricted basis, served in full, amounted to 353,463 ABSA, i.e. 2.02% of the ABSA to be issued.

    As a result, and as specified in the press release announcing the launch of the Capital Increase, the institutional investors who had given a guarantee were partially called for a total number of shares corresponding to 2,225,054 ABSA, i.e. 12.72% of the ABSA to be issued, representing a total subscription amount of €890,020. Investors who had given a guarantee commitment were served up to 83.18%.

    The gross amount of the Capital Increase thus recorded by the Board of Directors at its April 1,  2025 meeting amounts to €6,995,496, including €699,549.60 in nominal value and €6,295,946.40 in issue premium, and results in the issuance of 17,488,744 ABSA, at a subscription price of €0.40 per share, including €0.10 in nominal value and €0.30 in issue premium.

    In addition, a total number of 17,488,744 Warrants (BSA) were issued, allowing the Company to raise, in the event of the exercise of all the Warrants, an additional amount of €6,995,498 between 04/04/2026 and 10/04/2026. The characteristics of the BSA are recalled below.

    The ABSA were issued in the context of the 7th resolution adopted at the Combined Shareholders’ Meeting of September 12, 2024, in accordance with the delegation of authority granted by the Company’s shareholders to proceed with a Capital Increase.

    Use of the funds

    This fundraising will allow the Company to finance its activities until the end of March 2026, excluding the effect of potential contract signatures expected during this period. This cash horizon also takes into account the cost reductions undertaken by the Company, which significantly cap the average monthly cash burn, excluding revenues and non-recurring expenses, under €600k to date (compared to €1M as indicated in the half-year results press release published on December 17, 2024).

    The cash runway also includes the receipt of innovation aid in the form of a loan (Innovation – Research and Development Loan) in the amount of €500k granted by Bpifrance (and received at the beginning of March 2025), relating to the project for a hydrogen production, testing and training center in Marolles, bringing the total public funding obtained for this project to €1.5M (cf. press release and November 22, 2024 media kit).

    Retention and Withholding Commitments

    In the context of the Capital Increase, HAFFNER PARTICIPATION and EUREFI, long-standing shareholders of the Company, holding directly and jointly 52.73% of the share capital and 59.69% of the voting rights before the Capital Increase, have entered into a 180-day lock-up commitment covering all the shares they hold prior to the Capital Increase, subject to the usual exceptions.

    Haffner Energy has committed not to issue new shares after the Capital Increase for 180 days, except for customary exceptions.

    BSA (« Warrants ») characteristics

    • Number of Warrants issued: 17,488,744 (i.e. one (1) Warrant per ABSA)
    • Exercise parity: 3 Warrants will allow the subscription to one (1) New Share, subject to legal adjustments
    • Subscription price of the New Shares upon exercise of the Warrants: €1.20
    • Listing of the Warrants: Yes (ISIN code FR001400Y4X9)
    • Maturity: 18 months from the date of issuance of the ABSA
    • Exercise period: from 04/04/2026 to 04/10/2026 inclusive

    Exercising all 17,488,744 warrants would ultimately represent a potential capital increase of €6,995,498 gross.

    Impact of the issue on shareholders’ position and voting rights

    Following the issuance of the ABSA, the Company’s share capital will consist of 62,182,201 shares with a nominal value of €0.1 each. It will be distributed as follows:

      Before Capital Increase After Capital Increase
      Number of Shares Capital % Voting Rights Exercisable Voting Rights % Number of Shares Capital % Voting Rights Exercisable Voting Rights %
    Haffner Participation 17 824 000 39,88% 35 648 000 45,15% 20 199 000 32,48% 38 023 000 39,42%
    Eurefi 5 741 600 12,85% 11 483 200 14,54% 8 311 600 13,37% 14 053 200 14,57%
    Concert sub-total 23 565 600 52,73% 47 131 200 59,69% 28 510 600 45,85% 52 076 200 53,99%
    Vicat 1 175 000 2,63% 1 175 000 1,49% 3 675 000 5,91% 3 675 000 3,81%
    Eren Industries 1 000 000 2,24% 2 000 000 2,53% 1 391 302 2,24% 2 391 302 2,48%
    Kouros 11 826 112 26,46% 21 920 542 27,76% 11 826 112 19,02% 21 920 542 22,73%
    HRS 1 000 000 2,24% 1 000 000 1,27% 1 000 000 1,61% 1 000 000 1,04%
    Free float 5 736 238 12,83% 5 736 238 7,26% 15 388 680 24,75% 15 388 680 15,95%
    Self-holding 390 507 0,87% – 0,00% 390 507 0,63% – 0,00%
    Total 44 693 457 100% 78 962 980 100% 62 182 201 100% 96 451 724 100%
      After Capital Increase After Warrants exercise
      Number of Shares Capital % Voting Rights Exercisable Voting Rights % Number of Shares Capital % Voting Rights Exercisable Voting Rights %
    Haffner Participation 20 199 000 32,48% 38 023 000 39,42% 20 990 666 30,86% 38 814 666 37,95%
    Eurefi 8 311 600 13,37% 14 053 200 14,57% 9 168 266 13,48% 14 909 866 14,58%
    Concert sub-total 28 510 600 45,85% 52 076 200 53,99% 30 158 932 44,34% 53 724 532 52,53%
    Vicat 3 675 000 5,91% 3 675 000 3,81% 4 508 333 6,63% 4 508 333 4,41%
    Eren Industries 1 391 302 2,24% 2 391 302 2,48% 1 521 736 2,24% 2 521 736 2,47%
    Kouros 11 826 112 19,02% 21 920 542 22,73% 11 826 112 17,39% 21 920 542 21,43%
    HRS 1 000 000 1,61% 1 000 000 1,04% 1 000 000 1,47% 1 000 000 0,98%
    Free float 15 388 680 24,75% 15 388 680 15,95% 18 606 160 27,36% 18 606 160 18,19%
    Self-holding 390 507 0,63% – 0,00% 390 507 0,57% – 0,00%
    Total 62 182 201 100% 96 451 724 100% 68 011 780 100% 102 281 303 100%

    The dilutive impact of the Capital Increase, as indicated in the press release, is shown below: 

    Shareholder’s Participation (%)
    Before ABSA issuance 1%
    After issuance of 17,488,744 ABSA through the Capital Increase 0.72%
    After issue of 17,488,744 ABSA through the Capital Increase and exercise of the 17,488,744 Warrants (5,829,581 Shares created) 0.66%

    Global Coordinator and Bookrunner

    Gilbert Dupont, Groupe Societé Générale, is acting as sole Global Coordinator and Bookrunner in connection with the Capital Increase (the ” Sole Global Coordinator and Bookrunner “).

    About Haffner Energy

    Haffner Energy is a French company providing solutions for the production of competitive clean fuels. With 32 years of experience converting biomass into renewable energies, it has developed innovative proprietary biomass thermolysis and gasification technologies to produce renewable gas, hydrogen and methanol, as well as Sustainable Aviation Fuel (SAF). The company also contributes to regenerating the planet, through the co-production of biogenic CO2 and biocarbon (or char/biochar). Haffner Energy is listed on Euronext Growth. (ISIN code: FR0014007ND6 – Ticker: ALHAF).

    Investor relations

    investisseurs@haffner-energy.com

    Media relations

    Attachment

    The MIL Network –

  • MIL-OSI: BW Energy: granted extension to the Golfinho licence production phase to 2042 by ANP  

    Source: GlobeNewswire (MIL-OSI)

    BW Energy granted extension to the Golfinho licence production phase to 2042 by ANP  

    BW Energy is pleased to announce the extension of the Golfinho licence by Brazilian oil and gas regulator ANP. The production phase under the Golfinho concession contract has been extended to 2042 from previously 2031, following ANP’s approval of the Company’s field development plan in November 2024.   

    “The extension supports our long-term plans for developing the Golfinho field, initially through improved operational performance of existing infrastructure and later targeting several proven low risk in-field development opportunities. We see a significant potential for long-term value creation at Golfinho” said Carl K. Arnet, the CEO of BW Energy. 

    BW Energy is the operator with 100% working interest in the Golfinho licence following the August 2023 acquisition of the Golfinho and Camarupim Clusters. It is located in the Espírito Santo Basin with water depths between 1,300 and 2,200 metres. Hydrocarbons are produced to the FPSO Cidade de Vitória, which BW Energy acquired and has operated since November 2023. The field has been producing since 2007.  

    For further information, please contact:

    Brice Morlot, CFO BW Energy, +33.7.81.11.41.16 

    ir@bwenergy.com  

    About BW Energy:  

    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025. 

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

    The MIL Network –

  • MIL-OSI USA: Attorney General Bonta Secures Preliminary Injunction Blocking Trump Administration from Unlawfully Terminating Federal Employees

    Source: US State of California Department of Justice

    OAKLAND — California Attorney General Rob Bonta today released a statement after the issuance of a preliminary injunction blocking the Trump Administration from conducting unlawful mass terminations of federal probationary employees who live or work in California.

     “The Trump Administration’s callous and reckless mass firings of federal employees have harmed thousands of employees and families including many veterans in our state who have dutifully served their country in uniform,” said Attorney General Bonta. “Today’s decision is an important victory for the rule of law, which blocks the administration from terminating federal employees without lawfully required notice. California will continue to fight to protect our federal workforce, and the services Californians rely on.” 

    Background

    Last month, Attorney General Bonta joined a coalition of 20 attorneys general in filing a lawsuit against the Trump Administration for conducting an illegal mass firing of federal employees. Soon after, the U.S. District Court for Maryland granted a temporary restraining order that barred the Trump Administration’s unlawful mass firing of federal employees from 18 federal agencies from taking effect and ordering the employees’ reinstatement. Today’s order prevents the federal agencies listed below from conducting during the pendency of the lawsuit unlawful mass firings of federal employees who live or work in California and requires the reinstatement of any affected employees who have not already been reinstated. The order also extends the injunction to encompass employees from the Department of Defense and the Office of Personnel Management.

    Department of Agriculture    Department of Transportation  
    Department of Commerce   Department of Treasury  
    Department of Defense   Department of Veterans Affairs  
    Department of Education   Consumer Financial Protection Bureau  
    Department of Energy   Environmental Protection Agency  
    Department of Health and Human Services   Federal Deposit Insurance Corporation  
    Department of Homeland Security   General Services Administration  
    Department of Housing and Urban Development   Office of Personnel Management  
    Department of Interior    Small Business Administration  
    Department of Labor   United States Agency for International Development   

    Nationally, there are more than 5.1 million federal workers. Nearly all federal employees serve a one-or two-year probationary period, and more than 200,000 are on probationary status across the federal government. In California, numerous federal employees serve in critical roles across key agencies including the Department of Veterans Affairs, the Department of Agriculture, the National Park Service, and the U.S. Forest Service, among others.

    The abrupt, pretextual termination of federal employees was not only unlawful but also disrupted essential government services from support for veterans and farmers to protection of our cherished national parks and lands. This action also had far reaching economic effects. Specifically, in California, federal employees heavily contribute to our economy by paying state income taxes and generating substantial local revenue. As a direct result of the Trump Administration’s unlawful actions, the state Employment Development Department was forced to commit substantial human and financial resources to quickly offer unemployment and reemployment assistance and information to wrongfully displaced workers. During the month of February 2025, coinciding with the layoffs, California saw a 149% increase in state unemployment benefit claims by federal workers.  

    Attorney General Bonta is joined by the attorneys general of Arizona, Colorado, Connecticut, Delaware, Hawai‛i, Illinois, Massachusetts, Maryland, Michigan, Minnesota Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, Wisconsin, and the District of Columbia, in securing the preliminary injunction.

    A copy of the court’s order can be found here. 

    MIL OSI USA News –

  • MIL-OSI USA: Senator Markey Slams LIHEAP Firings

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Washington (April 1, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Environment and Public Works Committee, released the following statement after President Donald Trump and Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. fired the entire federal staff of the Low Income Home Energy Assistance Program (LIHEAP) as a part of the mass firing of 10,000 HHS workers.

    “The Trump administration’s mass firings at HHS are a direct attack on the health, safety, and dignity of American families. Eliminating the entire federal staff responsible for LIHEAP—a program that millions of households depend on to stay warm in the winter and cool in the summer—isn’t reform, it’s sabotage.

    “This is what Trump governance looks like: Dismantle the programs people rely on, create chaos in essential services, and leave working families to foot the bill. In my home state of Massachusetts, where energy bills are soaring—and some natural gas bills even doubling this year alone—LIHEAP is a critical lifeline. Now, as extreme weather pushes thermostats to extremes, and the threat of Trump’s tariffs looms ever closer, which will make energy prices climb ever higher, Trump has slashed the staff there dedicated to help. And with that, the Administration is cutting off the federal government’s ability to distribute the critical remaining 10 percent of this year’s LIHEAP funds that families are depending on.

    “I’ve fought for LIHEAP for decades because energy access is a basic human right. From demanding full funding to hosting roundtables with local providers and national advocates, I’ve worked to ensure the program meets the scale of the crisis. That’s why yesterday, I reintroduced my Heating and Cooling Relief Act—to modernize LIHEAP, permanently expand access, and ensure no family is left without support because of bureaucratic dysfunction or political cruelty. These cuts make that fight as urgent as ever.

    “I will keep fighting to restore these jobs, unlock the remaining funds, and guarantee that every family—no matter their income or ZIP code—has access to safe, affordable, clean energy.”

    Despite the urgent need for relief, in 2023, only about 18 percent of income-eligible households received LIHEAP assistance, with less than 3 percent of eligible households receiving cooling assistance. Meanwhile, low-income families spend nearly three times more on energy bills than non-low-income households, and nearly one in six households are behind on their utility bills.

    Senator Markey is a champion for energy access, affordability, and reliability. On Monday, Senator Markey and Representative Yassamin Ansari (AZ-03) reintroduced the Heating and Cooling Relief Act, bold legislation to significantly expand and modernize the severely underfunded LIHEAP. In March 2025, he hosted a roundtable with Massachusetts LIHEAP providers, consumer advocates, and national energy assistance organizations to discuss the urgent need to strengthen and expand LIHEAP. In July 2024, Senator Markey and several New England Senators sent a letter to the Department of Energy urging the Department to consider the disproportionate negative impacts of LNG on New England—especially on energy prices—in its underlying environmental and economic analyses for LNG export authorization decisions. In December 2023, Senator Markey led a letter urging the Federal Trade Commission to immediately intervene, investigate, and rigorously enforce consumer protection laws against certain electric supply companies. In October 2023, he celebrated the release of $130 million in LIHEAP funding for Massachusetts, helping residents afford winter heating costs. Additionally, he has pushed for greater investments in home efficiency and electrification to help low-income families reduce their energy burdens. He originally introduced the Heating and Cooling Relief Act with former Representative Jamaal Bowman (NY-16) in January 2022.

    MIL OSI USA News –

  • MIL-OSI Economics: Samsung Launches Its First Top Load Washers With AI Features for Enhanced Performance and Efficiency

    Source: Samsung

     
    Samsung Electronics today announced the launch of the Bespoke AI Top Load Washer, its new 25-inch, 24-inch and 21-inch capacity top load washers that will be available in global markets.1 These new models mark the first time Samsung is introducing AI technology to its top load washer category. With the three AI functions — AI Wash, AI Energy Mode and AI Vibration Reduction Technology Plus (VRT+ ) —, the new washing machines offer an intelligent, efficient and quiet washing experiences.2
     
    “We’re excited to expand our wide array of AI-driven washing technologies to the top-loading category, allowing a wider audience of various needs to benefit from a convenient washing experience,” said Jeong Seung Moon, EVP and Head of the R&D Team at Digital Appliances Business at Samsung Electronics. “With features like AI Wash, AI Energy Mode and AI VRT+ , we’re delivering products that enhance the washing experience by improving fabric care, enhancing energy efficiency and making quieter operation more accessible for consumers.”
     
     
    AI Technology Delivers the Ultimate Washing Experience
    The new washing machines are equipped with Samsung’s AI Wash,3 which intelligently senses the fabric type and weight to conveniently recommend the optimal settings for each load. Based on the detected laundry conditions, the cycle uses an AI algorithm to recommend suitable settings like the water level, agitation intensity, and washing and rinsing times. For delicate items, AI Wash will gently wash to reduce wear and tear, enabling up to 25% more fabric protection.4 For heavy duty fabrics, it will ensure an even, thorough wash without residue. Additionally, users can take advantage of AI Energy Mode through SmartThings Energy,5 which will allow them to reduce energy use by up to 20%.6
     
    AI VRT+ technology ensures quieter operation while adjusting to various floor conditions. This advanced version of the VRT+ system gathers a variety of signals sensed from the washer and sends it to an AI server,7 which analyzes the type of floor the washer is placed on.8 Using an AI algorithm, the server calculates the ideal settings and ensures the washer runs with less noise and vibration during the cycle, allowing users to have a more peaceful washing experience.
     

     
     
    Efficient Performance With Ecobubble
    The new top loaders also feature Ecobubble technology, which provides more effective cleaning performance while reducing fabric damage. This technology incorporates two key components: BubbleStorm , a fan-like device which effectively dissolves detergent into a foam for quicker penetration into fabrics, and Dual Storm , a pulsator that thoroughly mixes the bubbles and clothes together. By combining these components, Ecobubble allows users to achieve a thorough wash using up to 25% less energy9 and 14% less water.10 It allows the detergent to blend into the fabric 2.5 times faster,11 and also delivers up to 20% better fabric care,12 reducing wear on clothes.
     
    And for those who need to get their laundry done quickly, the Super Speed option can wash a load in just 31 minutes,13 delivering 40% faster washing while still maintaining effective cleaning performance.
     

     
     
    Additional Features for Enhanced Performance
    The new washers also come equipped with SmartThings connectivity, enabling easy management of the washing machine remotely for more convenience. To ensure long-lasting durability and reliable performance, the Digital Inverter Motor is backed by a 20-year warranty.14
     
    Hygiene Steam and Stain Wash provide specialized cleaning solutions for exceptionally clean washing.15 Hygiene Steam uses hot water and steam to eliminate up to 99.9%16 of certain types of bacteria17 and stubborn stains18 without the need for pre-treatment. Stain Wash, on the other hand, gives the option to use either warm or hot water to remove dirt and stains effectively, and it can clean everyday marks like sweat, at 40°C.19
     
    The new top load washers will roll out across various regions over the coming months. Available in five stylish colors — Black Caviar, Deep Charcoal, Lavender Gray, White and Brushed Navy20 — these models are designed to meet the diverse needs of consumers around the globe and offer powerful performance and enhanced efficiency as part of a convenient, reliable washing experience.
     
     
    1 The Bespoke AI Top Load Washer is launching in Korea, Taiwan, Hong Kong, Southeast Asia, Southwest Asia, Latin America, Middle East and Africa in 20252 Applied to WA80F******* models3 Fabric sensing uses an AI algorithm to sense three fabric types (Normal, Delicates, Towels) for loads up to 3kg. Mixed fabrics may reduce detection accuracy. Actual results may vary depending on individual use. To prevent wear, wash like fabrics together.4 Based on internal testing with WA80F/25, using IEC 3kg load (water level 6), comparing a normal cycle. Results may vary depending on the actual usage conditions.5 AI Energy Modes is available on Normal, AI Wash, Super Clean, Jeans, Aqua Preserve, Towels, and Clean Wash cycles. Available on Android and iOS devices. A Wi-Fi connection and a Samsung account are required.6 Tested by Samsung on a WA80F/25 model with a 5kg load using AI Wash cycle and water level 6. Results provided to and interpreted by Intertek. The washing cycle time may be increased when using AI Energy Mode.7 A Wi-Fi connection is required. If a Wi-Fi connection is not available, it will use the washing machine’s internal algorithm.8 Standalone installation and level adjustment required for the accurate operation.9 Tested by Samsung with WA80F/25 16kg model with Ecobubble and Digital Inverter motor, using an IEC 3kg load (water level 4), comparing a normal cycle with Ecobubble and a normal cycle without Ecobubble . Results provided to and interpreted by Intertek.10 Tested by Samsung with a 25” WA80F/25 16kg model with Ecobubble and Digital Inverter motor, using an IEC 3kg load (water level 4), comparing a normal cycle with Ecobubble and a normal cycle without Ecobubble . Results provided to and interpreted by Intertek. Water savings are 13% on 24” washers and 11% on 21” washers.11 Based on internal testing on the WA80F/25 16kg model, using Artificially Soiled Fabric (EMPA 120), compared to a Samsung conventional washing machine. Results may vary depending on the actual usage conditions.12 Based on the severity of washing action index of the WA80F/25 16kg model, compared to a Samsung conventional washing machine. Results may vary depending on the actual usage conditions.13 Based on internal testing. A Normal wash can be completed in as little as 31 minutes using Super Speed at the default settings with a 3kg load, compared to 54 minutes in a Samsung washing machine without Super Speed. Results may vary depending on the actual usage conditions. The Super Speed cycle takes 31 minutes on 25” and 24” models, and 29 minutes on 21” models.14 As of April 2024, the 20 year parts warranty is only applicable to the inverter motor.15 This feature is not available in North America.16 Available when washing laundry loads of up to 3kg on 25” and 24” models, and 2kg on 21” models. Recommended to wash colorfast fabrics and heavily soiled laundry. Avoid clothes prone to fading or bleeding colors.17 Based on the Intertek test report on a WA80F/25 model for the Hygiene Steam cycle. Removes 99.9% of certain bacteria, including Staphylococcus aureus and Escherichia coli. Individual results may vary.18 Based on internal testing. The optimal temperature may vary depending on the type and condition of the dirt and stains.19 The optimal temperature may vary depending on the type and condition of the dirt and stains.20 Available colors vary by market.

    MIL OSI Economics –

  • MIL-OSI China: US crude oil inventories up last week: API

    Source: China State Council Information Office

    The American Petroleum Institute (API) on Tuesday reported an increase of 6.037 million barrels of crude oil in U.S. inventories for the week ending March 28.

    The API reported a decline of 4.600 million barrels in the previous week.

    Oil prices dipped on Tuesday. The West Texas Intermediate for May delivery lost 28 cents, or 0.39 percent, to settle at 71.20 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery decreased by 28 cents, or 0.37 percent, to settle at 74.49 dollars a barrel on the London ICE Futures Exchange. 

    MIL OSI China News –

  • MIL-OSI Australia: First Nations bush tucker inspires creative works

    Source: New South Wales Ministerial News

    As Australia’s first UNESCO Creative City and region of Gastronomy, the latest Djaa Djuwima celebrates First Nations bush tucker through a range of traditional and contemporary creative works.

    The exhibition Dhelk Djakitj, which means nourishing food in Dja Dja Wurrung language, is inspired by bush tucker – the food, the people, Country and stories that bring them together.

    This is the first exhibition for newly appointed Djaa Djuwima Curator and Arts Officer First Nations Michellie Charvat.

    Twelve talented artists are exhibiting their work in Dhelk Djakitj following a recent visit to the Me-Mandook Galk education place in Chewton where the bush tucker farm Nalderun is located.

    Ms Charvat said she was delighted to be involved at the start of the creative process with exhibitors.

    “It was a wonderful visit to Me-Mandook Galk education place which inspired the artists in so many different ways,” Ms Charvat said.

    “The artists had the opportunity to learn about the bush tucker that Nalderun is growing and harvesting, to ask questions and gain a great deal of inspiration from the farm and surrounding area on Dja Dja Wurrung Country.

    “They then developed their artworks to reflect their diverse experience, personal connections to bush tucker through traditional and contemporary art forms such as painting on canvas, digital art printed, creating coolamons out of traditional and natural fibres or contemporary craft forms such as beading.

    “The free exhibition is a brilliant display of artworks exploring bush tucker and the personal connections to food and culture,” Ms Charvat said.

    “It is also a wonderful collaboration, celebrating the region’s designation as Australia’s first Creative City of Gastronomy at Djaa Djuwima.

    “Djaa Djuwima is important in the spirit of reconciliation because it offers the opportunity for visitors and local residents to experience the diverse local First Nations peoples and artists’ exploration of their own culture and identity through their art forms. Djaa Djuwima means to show and share Country and was established on Dja Dja Wurrung Country in 2022.”

    The community is welcome to attend the opening of Dhelk Djakitj tomorrow, Thursday April 3 from 5pm to 6.30pm at Djaa Djuwima.

    The free exhibition is open until September 2025. Djaa Djuwima is located in the Bendigo Visitor Centre, Pall Mall and is open 9am to 4.30pm daily (except Christmas Day).

    MIL OSI News –

  • MIL-OSI Economics: Panasonic Energy Joins the Japan Climate Leaders’ Partnership

    Source: Panasonic

    Headline: Panasonic Energy Joins the Japan Climate Leaders’ Partnership

    Osaka, Japan – April 2, 2025 – Panasonic Energy Co., Ltd. (“Panasonic Energy”), a Panasonic Group Company, is pleased to announce that the company joined the Japan Climate Leaders’ Partnership (“JCLP”)1, a coalition of companies aiming to realize a sustainable, decarbonized society, as a supporting member on April 1, 2025.
    Since its establishment in 2022, Panasonic Energy has been committed to its mission of “Achieving a society in which the pursuit of happiness and a sustainable environment are harmonized free of conflict.” The Company aims to turn all of its sites into zero-CO2 factories2 by the fiscal year ending March 2029. It has been accelerating decarbonization efforts throughout the value chain in collaboration with its business partners. The JCLP’s philosophy and activity policy align with Panasonic Energy’s vision on sustainability. Panasonic Energy will deepen its knowledge through participating in JCLP activities, further promote decarbonization by leveraging the expertise gained, and contribute to the realization of a sustainable society.
    1: Japan Climate Leaders’ Partnership (JCLP)This is a unique coalition of Japanese companies established in 2009 based on the recognition that the industrial sector should have a healthy sense of crisis and begin to take proactive action to realize a sustainable, decarbonized society. It aims to encourage members to become companies that are needed by society by leading the transition to a decarbonized society.URL: https://japan-clp.jp/en
    2: Zero-CO2 factoriesFactories that have achieved virtually zero CO2 emissions by conserving energy, introducing renewable energy, and using credits, etc.

    MIL OSI Economics –

  • MIL-OSI USA: Kennedy, Cassidy introduce resolution honoring life and achievements of former Sen. J. Bennett Johnston

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)

    WASHINGTON – Sen. John Kennedy (R-La.) today joined Sen. Bill Cassidy (R-La.) in introducing a resolution honoring the life and achievements of former Sen. J. Bennett Johnston, who represented Louisiana in the U.S. Senate from 1972 to 1997.

    “Senator J. Bennett Johnston was a Louisiana champion and a champion for Louisiana. He played big but spoke softly. Composure was his superpower. Bennett loved Louisiana, loved America, and loved his family. He was a great senator. Louisiana weeps. Becky and I send our condolences to the Johnston family and our everlasting thanks to Bennett,” said Kennedy.  

    “J. Bennett Johnston was a North Louisiana guy who fought for the whole state. He wasn’t the kind of senator who went to Washington just to vote ‘no.’ He voted ‘yes’ when it meant more energy jobs, more investment, and a better future for Louisiana. You can go around the entire state and see the impact he had—he made life better for Louisianans in real, tangible ways,” said Cassidy.

    Background:

    • J. Bennett Johnston was born in Shreveport, La. in 1932 and served in both the Louisiana House and Senate before being elected to the U.S. Senate in 1972.
    • Johnston chaired the U.S. Senate Energy and Natural Resources Committee from 1987 to 1995 and played a critical role in shaping U.S. energy policy by working to expand Louisiana offshore energy production, strengthen our state’s flood and hurricane protection and preserve our wetlands. 
    • Johnston passed away on March 25, 2025, at the age of 92.

    The full text of the resolution is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Hoeven, Daines Praise Trump Admin Review of Biden’s Anti-Energy Policies, Backs Small Energy Producers

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven

    04.01.25

    WASHINGTON – Senator John Hoeven (R-N.D.) joined Senator Steve Daines (R-Mont.) and 8 Republican colleagues in sending a letter to Secretary Doug Burgum at the U.S. Department of the Interior urging the reversal of Biden-era regulations that dramatically increase the bonding requirements for oil and gas wells on federal lands.

    “We write to express our support of your review of former President Biden’s burdensome regulatory actions that will reduce American energy independence and raise costs for American families and small businesses. In Secretarial Order 3418 you direct your Assistant Secretaries to review the Bureau of Land Management’s April 2024 final rule “Fluid Mineral Leases and Leasing Process,” (89 Fed. Reg. 30916) that dramatically increases costs on small oil and gas producers. Specifically, we request that you review and roll back the provisions in the rule that dramatically increase the bonding requirements for oil and gas wells on federal lands.

    “…While we strongly support proper stewardship of our public lands and the need to ensure that adequate bonding is in place to clean up abandoned wells, we must also ensure that bonding requirements are set at a reasonable and achievable rate for all oil and gas producers. Unfortunately, the current bonding rule will drive producers out of business and raise costs for American families. Energy development on federal lands is critical to strengthening America’s energy security, powering our economy, and supporting state and local conservation efforts.  We strongly urge you to revisit and reverse the bonding requirements in this rule, including reinstatement of reasonable state and nationwide bonding requirements, to ensure America’s long-term energy dominance and the prosperity of our communities,” the senators wrote in the letter.  

    Joining Senators Hoeven and Daines in sending the letter are Senators Mike Lee (R-Utah), James Lankford (R-Okla.), John Curtis (R-Utah), Kevin Cramer (R-N.D.), Tim Sheehy (R-Mont.), Cynthia Lummis (R-Wyo.), Markwayne Mullin (R-Okla.) and Lisa Murkowski (R-Alaska).

    Full text of the letter can be found here.

    MIL OSI USA News –

  • MIL-OSI Australia: 2022 Completed matters

    Source:

    Below are the consultation matters registered in 2022 that have been completed.

    If you require further information about the matters listed below, email consult@ato.gov.au.

    [202230] Sharing Economy Reporting Regime

    [202229] Military super invalidity benefit streamlined objection process

    [202228] Next 5,000 comprehensive risk review process

    [202227] Super health checks

    [202226] Improve small business tax performance

    [202225] Tax liability of legal personal representative of a deceased person

    [202224] User research – Retirement villages

    [202223] Capital gains tax record keeping tools and calculators

    [202222] Superannuation guarantee charge letter

    [202221] FBT record keeping

    [202220] Lodgment deferrals in Online services for agents

    [202219] Working from home deductions from 2022–23 tax year

    [202218] User testing – Tax Time 2022 communications for individual taxpayers

    [202217] MBR program companies release

    [202216] 2022 Review of the Taxpayers’ Charter

    [202214] Enterprise Client Register

    [202213] Advance pricing arrangements program review

    [202212] Automatic Exchange of Information guide and toolkit for Reporting Financial Institutions

    [202211] Deduction for entering into a conservation covenant

    [202210] eInvoicing communications

    [202209] Undisputed tax debt data reporting

    [202207] User testing – Online services for foreign investors

    [202206] GST offsetting between unrelated entities

    [202205] Corporate Collective Investment Vehicle

    [202204] Self-assessed income tax exempt not-for-profits

    [202203] Build-to-rent

    [202201] 2022 Digital Services Gateway APIs

    [202230] Sharing Economy Reporting Regime

    Consultation purpose

    To seek feedback regarding implementation of the new Sharing Economy Reporting Regime including:

    • public advice and guidance
    • reporting requirements (data and lodgment).

    Description

    Schedule 2 of the Treasury Laws Amendment (2022 Measures No. 2) Act 2022External Link requires operators of electronic distribution platforms (EDPs) to report information to the ATO on transactions relating to supplies made through the platform. This measure implements a recommendation of the report of the Black Economy Taskforce.

    Under the measure, EDP operators will be required to report transactions that occur on or after:

    • 1 July 2023 if it relates to a supply of taxi services or short-term accommodation, and
    • 1 July 2024 for all other reportable transactions.

    Who we consulted
    • Operators of EDPs in the taxi, ride sharing and short-term accommodation industries
    • Professional associations
    • Technical and peak industry bodies
    • Tax professional associations

    Outcome of consultation

    Feedback from consultation provided valuable insights in the development of the Implementation Guide, XML Schema, Legislative Instruments and Explanatory Statement to support Tranche 1 industries with the implementation of the Sharing Economy Reporting Regime.

    Consultation lead

    Vanessa Kelly, Small Business
    vanessa.kelly2@ato.gov.au
    Phone 02 4223 2851
    [202229] Military super invalidity benefit streamlined objection process

    Consultation purpose

    To test tone and clarity of messaging in a proposed letter to military veterans impacted by changes to the tax and superannuation treatment of specific invalidity benefit payments.

    Description

    Due to the Full Federal Court decision in Commissioner of Taxation v Douglas [2020] FCAFC 220 (the Douglas decision), the tax and superannuation treatment of specific invalidity benefit payments has changed.

    Those affected by the Douglas decision can request remediation to previous year tax assessments through the objection process.

    Who we consulted
    • Tax agents who have military veteran clients who are impacted by the Douglas decision
    • Veteran advocacy groups

    Outcome of consultation

    Consultation provided valuable feedback that has improved the clarity of the letter. Feedback will also contribute to some key changes to website content.

    Consultation lead

    Simon Dann, Objections and Review
    simon.dann@ato.gov.au
    Phone 07 3149 5754
    [202228] Next 5,000 comprehensive risk review process

    Consultation purpose

    To seek feedback on the proposed process for Next 5,000 comprehensive risk reviews that are planned to commence in early 2023.

    Description

    As part of the Next 5,000 program, the ATO will be commencing comprehensive risk reviews in early 2023. These reviews will be a new type of engagement using a risk based approach undertaken by the program, and will complement our existing streamlined assurance reviews.

    Who we consulted

    Tax professionals who engage with the Next 5,000 program

    Outcome of consultation

    Feedback was considered and incorporated into the process for the Next 5,000 comprehensive risk reviews.

    Consultation lead

    Ashleigh Larner, Private Wealth
    ashleigh.larner@ato.gov.au
    Phone 08 9268 0901
    [202227] Super health checks

    Consultation purpose

    To explore tax agent views on:

    • the level of awareness individual clients have in their superannuation
    • appetite to undertake a super health check with individual clients, including during preparation of income tax returns
    • tools and resources the ATO could provide to assist with super health check conversations.

    Description

    Research shows that up to 70% of individuals do not regularly manage their super or check that it’s in order. The ATO would like individuals to have greater awareness about their basic super entitlements and take more ownership and interest in their super earlier and is exploring how we might encourage this.

    Who we consulted

    Tax agents with individual clients

    Outcome of consultation

    Feedback indicated that individuals’ awareness of superannuation could be improved and that tax time interactions would be a good time for a super health check, which tax agents would undertake with their clients if provided with the necessary support from the ATO. Insights will inform our work on this strategy in the future.

    Consultation lead

    Tara Rischmueller, Superannuation and Employer Obligations
    tara.rischmueller@ato.gov.au
    Phone 08 8208 2935
    [202226] Improve small business tax performance

    Consultation purpose

    To:

    • co-design a roadmap to digitalise the tax experience for small business in ways that improve small business tax performance and provide value back to small business
    • explore concepts to streamline the tax experience.

    Description

    Improve small business tax performance and participation by collaborating with partners to build a digital first tax ecosystem, enabling seamless tax reporting from business source systems, is one of the key focus areas in the ATO corporate plan 2022-23.

    The aim is to develop concepts that will:

    • improve small business tax performance
    • create productivity savings for small businesses
    • deliver economy wide value from increased permission-based standardised data sharing
    • increase participation in and integrity of the tax ecosystem.

    Who we consulted

    Outcome of consultation

    Consultation provided valuable feedback which:

    • contributed to development of the draft Roadmap to Tax Admin 3.0 for small business
    • will be considered in the identification of concepts to streamline the tax experience
    • has enhanced ATO’s understanding of the need to ensure changes to technology and the role of people and business processes are integrated, to collectively improve small business tax performance for successful digitalisation of tax administration.

    Consultation lead

    Andrew Watson, Small Business
    andrew.watson@ato.gov.au
    Phone 08 8208 1826
    [202224] User research – Retirement villages

    Consultation purpose

    To understand the retirement village life-cycle (including income tax, GST and commercial aspects) to identify:

    • if existing advice and guidance supports taxpayers to meet their obligations
    • opportunities to improve the operation of the tax system.

    Description

    The retirement village industry has materially evolved over the last few years with significant expansion in the sector. The ATO is seeking to understand the impacts.

    Who we consulted
    • Representatives of industry associations who are connected with or have expert knowledge of retirement villages
    • Tax and legal professionals

    Outcome of consultation

    Feedback provided has informed the ATO’s understanding of the retirement village life cycle. These insights will be taken into account in informing potential future engagement with the industry and its advisers.

    Consultation lead

    Rosie Cicchitti, Private Wealth
    rosie.cicchitti@ato.gov.au
    Phone 07 3213 8073
    [202225] Tax liability of legal personal representative of a deceased person

    Consultation purpose

    To seek feedback on the practical application of Practical Compliance Guideline PCG 2018/4 Income tax – liability of a legal personal representative of a deceased person.

    Description

    The Inspector-General of Taxation and Taxation Ombudsman published the Death and Taxes: An Investigation into ATO systems and processes for dealing with deceased estatesExternal Link report on 7 July 2020.

    Part (b) of recommendation 10 in the report recommended that the ATO conduct a post-implementation review of the PCG, in consultation with external stakeholders, to assess its effectiveness in providing sufficient certainty for legal personal representatives to finalise an estate.

    Who we consulted
    • Tax and law professional associations
    • Tax practitioners
    • Public trustees

    Outcome of consultation

    Feedback received is being considered for incorporation into the updated Practical Compliance Guideline

    Consultation lead

    Danijela Jablanovic, Individuals and Intermediaries
    danijela.jablanovic@ato.gov.au
    Phone 07 3213 5864
    [202223] Capital gains tax record keeping tools and calculators

    Consultation purpose

    To understand the capital gains tax (CGT) tools and calculators user experience to identify opportunities for improvement.

    Description

    The ATO has multiple CGT tools and calculators to support taxpayers in determining their CGT for lodgment of their tax returns.

    The ATO is undertaking research to:

    • understand current issues, irritants, experiences and behaviours to optimise future CGT tool solutions
    • identify opportunities to expand the use of ATO held CGT data to improve the taxpayer experience and compliance in reporting and calculation of CGT gains and losses.

    Who we consulted
    • Individual taxpayers
    • Tax practitioner representatives

    Outcome of consultation

    Consultation provided valuable feedback which will be considered in the development of enhancements to CGT tools and calculators.

    Consultation lead

    Dejan Markov, Enterprise Strategy and Design
    dejan.markov@ato.gov.au
    Phone 08 8208 3608
    [202222] Superannuation guarantee charge letter

    Consultation purpose

    To test tone and clarity of messaging in a proposed superannuation guarantee charge letter to businesses and tax practitioners.

    Description

    If employers do not pay an employee’s minimum superannuation amount on time and to the right fund, they must pay the superannuation guarantee charge to the ATO.

    The ATO engages with employers who are not meeting their superannuation guarantee obligations and/or their tax practitioners.

    Who we consulted
    • Small to medium business employers
    • Tax practitioners

    Outcome of consultation

    Feedback provided will be incorporated into the superannuation guarantee charge letter in future communication to clients.

    Consultation lead

    Kate Haymes, Enterprise Strategy and Design
    kate.haymes@ato.gov.au
    Phone 07 3119 9866
    [202221] FBT record keeping

    Consultation purpose

    To seek feedback on proposed Legislative Instruments and Explanatory Statements for the implementation of the FBT reduced record keeping budget measure, as published with the Fringe benefits tax – record keeping exposure draft legislationExternal Link consultation on treasury.gov.au

    Description

    The Fringe Benefits Tax — reducing the compliance burden of record keeping measure was announced the in the 2021–22 Budget.

    The measure will provide the Commissioner of Taxation with the power to allow employers to rely on existing corporate records as an alternative to existing requirements. This will reduce compliance costs for employers, while maintaining the integrity of the FBT system.

    For consultation on the associated legislation, see Fringe benefits tax – record keeping exposure draft legislationExternal Link on treasury.gov.au

    Who we consulted

    Outcome of consultation

    Feedback will be considered in finalisation of the legislative instruments and explanatory statements.

    Consultation lead

    Philip Borrell, Superannuation and Employer Obligations
    philip.borrell@ato.gov.au
    Phone 02 6058 7881
    [202220] Lodgment deferrals in Online services for agents

    Consultation purpose

    To co-design the lodgment deferral process in Online services for agents and test the functionality prior to implementation.

    Description

    The ATO is expanding Online services for agents services to include lodgment deferrals.

    The intent is to:

    • streamline the lodgment deferral request process
    • decrease request processing timeframes
    • provide visibility of the progress of requests.

    Who we consulted
    • Tax practitioner representatives
    • Digital service providers
    • Members of  

    Outcome of consultation

    Consultation provided valuable feedback which contributed to the design and build of the service and support material.

    Consultation lead

    Felix Manero, Individuals and Intermediaries
    OSfALodgmentDeferrals@ato.gov.au
    Phone 07 3213 3552
    [202219] Working from home deductions from 2022–23 tax year

    Consultation purpose

    To seek insights to inform guidance that will assist taxpayers in the calculation of their working from home deductions for 2022–23 and future income years.

    Description

    The temporary shortcut method was introduced to assist taxpayers to work out their working from home deductions between 1 March 2020 and 30 June 2022.

    With the cessation of the shortcut method, the ATO is refreshing the fixed rate method for calculating work from home deductions.

    Who we consulted

    Outcome of consultation

    Feedback was considered for incorporation into Draft Practical Compliance Guideline PCG 2022/D4 Claiming a deduction for additional running expenses incurred while working from home – ATO compliance approach which was published for public consultation on 2 November 2022.

    Consultation lead

    Lloyd Williams, Individuals and Intermediaries
    lloyd.williams@ato.gov.au
    Phone 02 6216 1030
    [202218] User testing – Tax Time 2022 communications for individual taxpayers

    Consultation purpose

    To test the tone and clarity of Tax Time 2022 communications for individual taxpayers.

    Description

    Tax time communications provide taxpayers with guidance to help get it right when preparing their tax return.

    The ATO is user testing the communications for individual taxpayers to identify opportunities for refinement to improve the user experience. 

    Who we consulted

    Individual taxpayers 

    Outcome of consultation

    Feedback provided is being incorporated into future tax time communications to individual taxpayers.

    Consultation lead

    Kate Haymes, Enterprise Strategy and Design
    kate.haymes@ato.gov.au
    Phone 07 3119 9866
    [202217] MBR program companies release

    Consultation purpose

    To test the design and functionality of the proposed design of the Modernising Business Registers (MBR) program companies release to identify opportunities for refinement to improve the user experience prior to implementation.

    Description

    The companies release is part of the modernisation of business registers program, a component of the package of reforms to address illegal phoenixingExternal Link that was announced by government in September 2017 and received Royal Assent on 22 June 2020.

    The companies release will provide over 3 million companies with a more streamlined way to register, view and maintain company details using ABRS online.

    Consultation will be through a series of phases covering the ABRS website, company registrations, maintenance, and search.

    Who we consulted
    • Community who may use ABRS
    • Directors and intending directors
    • Company officeholders
    • Company administrators and intermediaries
    • Tax practitioners
    • Business representatives
    • Government agencies
    • Modernising Business Registers Business Advisory Group
    • Modernising Business Registers Design Working Group

    Outcome of consultation

    Consultation is discontinued. The Hon Stephen Jones MP, Assistant Treasurer and Minister for Financial Services, has announced the cessation of the Modernising Business Registers (MBR) program. The decision follows the Independent Review of the MBR program which was completed in July 2023.

    Consultation lead

    Jonathan Solomon, MBR Program
    mbrengagement@ato.gov.au
    Phone 07 3213 3183
    [202216] 2022 Review of the Taxpayers’ Charter

    Consultation purpose

    To seek feedback on the Taxpayers’ Charter.

    Description

    The ATO is committed to undertaking a regular review of the Taxpayers’ Charter to ensure it remains contemporary and:

    • meets community expectations about how the ATO engages with taxpayers in its administration of the tax, super and registry systems
    • accurately reflects what our clients can expect from the ATO when dealing with us
    • assists staff in their interactions with our clients
    • fulfils its purpose of advising the public of their rights when dealing with the ATO.

    The Charter should continue to support the ATO’s aim to build taxpayer confidence in the Australian tax and superannuation systems by helping people understand their rights and obligations, improving ease of compliance and access to benefits, and managing non-compliance with the law.

    The Inspector-General of Taxation and Taxation Ombudsman made a series of recommendations on the Charter in its 2020–21 Investigation into the effectiveness of ATO communications of taxpayers’ rights to complain, review and appeal.

    Who we consulted
    • Taxpayers
    • Industry associations
    • Professional associations, including those representing    
      • business sectors
      • tax and bookkeeping professionals
      • culturally and linguistically diverse audiences
    • Members of the    

    Outcome of consultation

    A high volume of feedback, mainly from accounting, legal, and diverse audiences, identified opportunities to improve the Charter. All feedback will be considered for incorporation into an update of the Charter.

    Consultation lead

    Chris Cook, ATO Corporate
    chris.cook@ato.gov.au
    Phone 02 6216 6355
    [202214] Enterprise Client Register

    Consultation purpose

    To seek insights into agents’ experience and understanding of their role in the integrity of the Enterprise Client Register.

    Description

    The Enterprise Client Register is the key source of client information used in every client interaction across the ATO.

    The ATO will:

    • explore differing agent business models and any impact on updating client contact details
    • seek to understand the intermediary experience with client contact details
    • identify opportunities to improve the user experience.

    Who we consulted
    • Tax agents
    • BAS agents

    Outcome of consultation

    Consultation provided valuable insights into the Enterprise Client Register user experience and identified opportunities for improvement.

    Consultation lead

    Tina Markov, Client Account Services
    tina.markov@ato.gov.au
    Phone 08 8208 1428
    [202213] Advance pricing arrangements program review

    Consultation purpose

    To seek feedback on the advance pricing arrangement (APA) program.

    Description

    We will be undertaking a review of the APA Program in 2022, with a primary focus on:

    • whether the APA product continues provide the right service for all taxpayers
    • assuring transfer pricing risk in the most efficient manner possible.

    Who we consulted
    • Taxpayers
    • Tax advisory firms
    • Tax industry associations
    • Other APA program participants

    Outcome of consultation

    Feedback provided valuable insights which will be used to guide further improvement of the APA Program.

    Consultation lead

    Tien Phan, Assistant Commissioner, Public Groups and International
    tien.phan@ato.gov.au
    Phone 03 8632 5283
    [202212] Automatic Exchange of Information guide and toolkit for Reporting Financial Institutions

    Consultation purpose

    To seek input and insights on a proposed Automatic Exchange of Information (AEOI) self-review guide and toolkit for Reporting Financial Institutions.

    Description

    The guide will assist and support Reporting Financial Institutions to self-review their internal control framework to ensure they meet AEOI compliance obligations, which cover Common Reporting Standard and Foreign Account Tax Compliance Act obligations.

    It will include practical guidance for self-review of core elements:

    • AEOI governance
    • due diligence
    • reporting systems
    • data testing.

    Who we consulted
    • Tax practitioners
    • Financial institutions

    Outcome of consultation

    Feedback received was considered and incorporated into the AEOI Self-review guide and toolkit.

    Consultation lead

    Jaydon Beatty, Public Groups and International
    jaydon.beatty@ato.gov.au
    Phone 02 6216 4158
    [202211] Deduction for entering into a conservation covenant

    Consultation purpose

    To seek feedback on:

    • the ATO’s preliminary position regarding deductibility, under Division 31, when a conservation covenant is entered into to satisfy environmental approvals for a mining project
    • whether public advice and guidance is required and the type of guidance.

    Description

    Division 31 of the Income Tax Assessment Act 1997 provides for a deduction for the decrease in the market value of land when a perpetual conservation covenant over your land is entered into provided certain conditions are satisfied.

    Deductions for the decrease in the market value of the land must be based on a valuation obtained from the ATO.

    Valuation requests from taxpayers, in the energy and resources sector, have raised questions about whether taxpayers entering a conservation covenant, to meet environmental approval conditions for mining projects, receive material benefits which would disqualify them from receiving a deduction.

    Who we consulted

    Energy and Resources Working Group

    Outcome of consultation

    Feedback will be used to guide our communication strategy relating to valuation requests for conservation covenants from Energy and Resources Working Group members.

    Consultation lead

    John Churchill, Office of the Chief Tax Counsel
    john.churchill2@ato.gov.au
    Phone 03 6221 0258
    [202210] eInvoicing communications

    Consultation purpose

    To seek insights from eInvoicing users and their intermediaries to inform future messaging and engagement activities related to raising awareness and driving adoption of eInvoicing across Australia.

    Description

    The ATO is leading activities to raise awareness and drive adoption of eInvoicing in Australia. This includes working with businesses, intermediaries, service providers, and all levels of government to understand their current invoicing processes and support them in adopting eInvoicing to realise the economic benefits of eInvoicing.

    The ATO will:

    • seek to understand the current invoicing process for all stakeholders
    • establish current knowledge and awareness levels
    • develop supporting materials for various segments and validate their effectiveness.

    Who we consulted
    • Small to medium enterprise businesses
    • Tax professionals
    • Digital service providers

    Outcome of consultation

    Feedback provided will be used to shape the ATO’s eInvoicing awareness activities and messaging with intermediaries and small businesses. Insights will also be communicated to accounting software providers to improve future user experiences.

    Consultation lead

    Patrick Brophy, Enterprise Solutions and Technology
    patrick.brophy@ato.gov.au
    Phone 02 6216 1940
    [202207] User testing – Online services for foreign investors

    Consultation purpose

    To seek insights to inform the design and build of Online services for foreign investors (formerly known as the Foreign Ownership of Australian Assets Register).

    Description

    The ATO is developing Online services for foreign investors which will replace and expand upon the existing Foreign Ownership of Water Entitlements Register and Foreign Ownership of Agricultural Land Register. This supports reforms to Australia’s Foreign Investment Framework.

    Consultation will consider:

    • navigation
    • functionality – including but not limited to payments, registration, and maintenance of registration
    • usability.

    Who we consulted
    • Foreign persons, or their representative, who apply to acquire or register ownership of foreign assets on their own behalf or for entities
    • Solicitors and conveyancers registering for clients

    Outcome of consultation

    Consultation provided valuable input into the design and build of Online services for foreign investors, as well as shaping the information that will be included in web content and communications.

    Consultation lead

    Rebecca Northey, Public Groups and International
    rebecca.northey@ato.gov.au
    Phone 02 4923 1900
    [202206] GST offsetting between unrelated entities

    Consultation purpose

    To seek feedback on paragraph 5 of the Law Administration Practice Statement PS LA 2011/21 Offsetting of refunds and credits against taxation and other debts to provide greater clarity to support ATO staff decision-making and to support taxpayers in self-assessing whether requesting such an offset is appropriate.

    Description

    Paragraph 5 of PS LA 2011/21 provides guidance to ATO staff where a taxpayer requests to have their refund or credit offset against the tax debt of another entity.

    The current guidance does not provide assistance in determining the circumstances in which the criteria would be satisfied for the Commissioner to agree to perform such an offset. For instance, in practice we think it would be rare that paying the refund in this manner would be an efficient, effective, economical and ethical use of public resources for which the Commissioner is responsible.

    Who we consulted

    Tax advisory firms

    Outcome of consultation

    Feedback provided valuable insights and suggestions for potential improvements to our guidance.

    Consultation lead

    Renae Carter, Small Business
    renae.carter@ato.gov.au
    Phone 02 9374 2942
    [202205] Corporate Collective Investment Vehicle

    Consultation purpose

    To identify, prioritise, and address administrative and interpretative issues that require support to implement the new Corporate Collective Investment Vehicle (CCIV) measure.

    Description

    In the 2021–22 federal Budget, the Australian Government announced that it will progress the tax and regulatory framework for the CCIV with a commencement date of 1 July 2022.

    The new legislation aligns the tax framework for the CCIV regime with the tax regime for attribution managed investment trusts (AMITs). CCIVs will be required to meet similar eligibility criteria as managed investment trusts (MITs). This includes being widely held and engaging primarily in passive investment activities. CCIVs that are not eligible for AMIT tax treatment will be subject to the ordinary trust taxation rules in Division 6 or trading trust rules in Division 6C, as applicable, of the Income Tax Assessment Act 1936.

    As a CCIV is a new corporate entity, deemed to be a trust for tax purposes, there are a range of administrative considerations and tax interaction issues to resolve to ensure implementation by 1 July 2022; for example, registration, eligibility, distributions, reporting.

    Who we consulted
    • Advisers with significant managed fund experience
    • Representatives from industry associations, including    
      • Financial Services Council
      • Property Council of Australia
      • Law Council of Australia
      • Australian Custodial Services Association

    Outcome of consultation

    Consultation:

    • facilitated identification of operational and administrative issues and provided valuable feedback which contributed to the design and build of the tax administrative framework and support material for the CCIV regime
    • provided valuable insights on interpretive issues which will be further considered in the development of public advice and guidance.

    Consultation lead

    Blake Sly, Public Groups and International
    blake.sly@ato.gov.au
    Phone 02 4923 1814
    [202204] Self-assessed income tax exempt not-for-profits

    Consultation purpose

    To understand the impacts that the government announced reform will have on self-assessing income tax exempt not-for-profits (NFPs) and co-design the lodgment process.

    Description

    Currently NFPs who self-assess their own eligibility for income tax exemption are not required to report their eligibility to the ATO.

    In the May 2021–22 Budget, the Australian Government announced reforms to the administration of NFP entities that self-assess as income tax exempt. From 1 July 2023, non-charitable NFPs with an active ABN will be required to lodge an annual self-review return to access income tax exemption, submitting the information they ordinarily use to self-assess their eligibility for income tax exemption.

    The ATO will explore:

    • how NFPs currently self-assess income tax exempt eligibility
    • impacts of the changes on NFPs
    • expectations for implementation
    • support and guidance NFPs will need through the change.

    The ATO will consult the sector to:

    • user-test and iteratively refine the new annual self-review return
    • co-develop practical support and refresh public guidance

    validate the ATO’s administrative approach.

    Who we consulted

    Members of the Tax Practitioner Stewardship Group

    Outcome of consultation

    The consultation objectives to understand sector impacts and co-design the lodgment process have been successfully achieved. As a direct result of insights and co-design feedback the following enhancements to the taxpayer experience have been implemented:

    • streamlining the NFP self-review return from over 20 questions to 5 core questions to determine eligibility for an income tax exemption
    • introducing tailored and guided logic and help text to make the return easier to complete
    • providing an alternative self-help phone lodgment service for NFPs having trouble accessing the digital return in Online services
    • additional time to lodge through to 31 March 2025
    • transitional support for taxable NFPs, including
      • concessional due date to lodge and pay income tax return
      • remission of general interest charge and penalties
      • flexible payment plans
      • support to reconstruct tax records
      • focusing on lodgment of the 2023–24 income year and onwards, noting we may take compliance action if we identify deliberate past tax evasion or fraud
    • introducing a new non-lodgment advice form for taxable NFPs to meet their income tax return reporting obligations
    • providing an NFP governance checklist to assist NFPs in meeting their broader tax and super obligations.

    Lodgment data and feedback from the NFP sector have validated that the return is straightforward and takes less than 10 minutes to complete. However, the sector continues to experience challenges updating their Australian business number details and setting up myID and Relationship Authorisation Manager to access the digital return.

    The next phase of consultation will focus on supporting the digital onboarding of the sector and lodgment education and support.

    Consultation lead

    Jennifer Moltisanti, Small Business
    jennifer.moltisanti@ato.gov.au
    Phone 03 9285 1711
    [202203] Build-to-rent

    Consultation purpose

    To explore the emerging models of Build-to-rent developments in Australia to understand the opportunities to support the industry with their tax obligations.

    Description

    Build-to-rent is forecast to take off over the next 5 years.

    We are seeing growing interest from industry and government with incentives and concessions for Build-to-rent developments increasing.

    Who we consulted
    • Members of the    
    • State Government representatives

    Outcome of consultation

    Consultation provided valuable insights into the Build-to-Rent industry, highlighting the complexity and improving ATO’s understanding of the various Build-to-Rent models and associated tax issues.

    Consultation lead

    Peter Chester, Private Wealth
    peter.chester@ato.gov.au
    Phone 07 3213 5957
    [202201] 2022 Digital Services Gateway APIs

    Consultation purpose

    To co-design Digital Services Gateway (DSG) features and Application Programming Interfaces (APIs).

    Description

    The DSG was implemented in 2021 to enable lightweight APIs to support digital service providers deliver tax and superannuation services.

    Who we consulted

    Digital service providers

    Outcome of consultation

    Digital service providers shared valuable insights which contributed to the development of DSG APIs.

    Consultation lead

    Sonia Lark, Digital Partnership Office, Enterprise Solutions and Technology
    sonia.lark@ato.gov.au
    Phone 02 4725 7460

    MIL OSI News –

  • MIL-OSI USA: Durbin Meets With Argonne National Lab Director As Trump Administration Threatens Future Of Scientific Research

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    April 01, 2025
    The Trump Administration has pushed for cuts to the Department of Energy’s Office of Science, jeopardizing the research conducted at Argonne National Lab
    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL) today met with Dr. Paul Kearns, Director of Argonne National Laboratory to discuss the future of scientific research as the Trump Administration takes aim at federal research institutions.  During their meeting, Durbin and Dr. Kearns spoke about the disastrous impact of the Trump Administration’s funding cuts and freezes to scientific research.
    Durbin and Dr. Kearns also discussed Illinois’ position as a leader in quantum computing research.  In February, Durbin introduced his bipartisan DOE Quantum Leadership Act, which would authorize more than $2.5 billion over the next five years for quantum research at the Department of Energy.
    “Illinois is home to premier research institutions, including Argonne National Lab.  But the Trump Administration fails to understand just how critical our scientists and researchers are in pushing our country forward,” said Durbin.  “It was a pleasure to speak with Dr. Kearns, Director of Argonne National Lab, today.  I reiterated my commitment to defending federal funding to research institutions, especially our national labs, as they lead us to the future of quantum computing, artificial intelligence, and the other technologies of tomorrow.”
    Photos of the meeting are available here.
    Durbin has been a strong supporter of pushing quantum research forward.  Last July, he visited MxD in Chicago to discuss integrating quantum technology into manufacturing processes.  He also joined Illinois leaders to announce the new partnership between the Defense Advanced Research Projects Agency (DARPA) and Illinois – Quantum Proving Ground – to promote quantum computing research, development, and manufacturing in the state.  In June 2024, Durbin met with Dr. Stefanie Tompkins, Director of   DARPA, to discuss Illinois’ role in R&D in the defense industry.  In February, he met with IBM to discuss the National Quantum Algorithms Center, which IBM plans to build in Chicago.
    Last summer, Durbin joined Illinois leaders in celebrating the newly-announced location of the Illinois Quantum and Microelectronics Park’s (IQMP) location at USX on the South Side of Chicago and the announcement of the quantum campus’ first anchor tenant, PsiQuantum. Illinois plans to invest $500 million into the new quantum campus to attract Fortune 500 companies and startups in quantum computing.
    -30-

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Homes England and Octopus Real Estate launch £150m Greener Homes Alliance phase 2

    Source: United Kingdom – Government Statements

    Press release

    Homes England and Octopus Real Estate launch £150m Greener Homes Alliance phase 2

    The renewed alliance will reinforce a responsibility to support small and medium-sized (SME) housebuilders, while encouraging greener building practices.

    Octopus Real Estate supported by Homes England

    Homes England has joined with Octopus Real Estate, part of Octopus Investments and a leading specialist real estate investor and lender, to create the Greener Homes Alliance 2.

    The alliance will commit £150 million of funding, £42 million of which will be provided by the Agency’s Home Building Fund. This will provide small and medium-sized (SME) housebuilders with further loan finance enabling even more high-quality, energy efficient homes to be built across England.

    The first phase of the alliance launched in 2021, as part of broader efforts to expand the supply of finance available to SMEs, and funded over 550 much needed, new sustainable homes across the country. More than 40% of the homes built during phase one achieved an Energy Performance Certificate (EPC) rating of A, and 100% secured a Standard Assessment Procedure (SAP) score higher than 86, significantly higher than the UK average EPC rating of D and SAP score of 67.

    Phase one of the Greener Homes Alliance made a significant impact, with 20 loans completed totalling £150million – an average loan size to SME developers of £7.5 million.

    Phase two of the Greener Homes Alliance will seek to support the creation of more sustainable homes by introducing ten new criteria, four of which must be met for developers to benefit from a 1.25% discount on their interest rate. If six or more criteria are met, developers will be eligible for a 2% discount.

    The new criteria for phase two will include the use of mixed methods of construction (MMC) in the fabric of buildings and a real living wage paid to workers on site. It will also encourage borrowers to support the Lighthouse Charity, a leader in mental health within the construction industry.

    To qualify for funding from the alliance in the first place, all schemes must deliver specific key performance indicators as a minimum. Developers must ensure that all homes built are fossil fuel free and have an average SAP score of 85 or above.

    Marcus Ralling, Chief Investment Officer at Homes England said:

    Small and medium housebuilders play a vital and essential role in driving the delivery of much needed, new and sustainable homes.

    This extended Alliance is an excellent example of how we are working with partners like Octopus Real Estate to support the SME housebuilders that are crucial to building a diverse and resilient housing sector.

    Andy Scott, Co-Head of Debt, Octopus Real Estate, added:

    We are extremely proud of the impact our Greener Homes Alliance initiative has had when it comes to supporting developers looking to make greener decisions for their projects, and we’ve spent a lot of time working out the new criteria with Homes England to make sure the next phase is as impactful as possible.

    At Octopus, our mission is to reimagine real estate through the delivery of high-quality, sustainable places for people to live that are fit for the future and address societal needs such as fuel poverty. Working with esteemed government agencies to enact real change for the developers who have the expertise and capability to deliver such homes is a huge part of this.

    ENDS

    Notes to editors:

    An Energy Performance Certificate (EPC) tells you how energy efficient a property is, giving a property an energy efficiency rating from A (best) to G (worst) that is valid for 10 years. An EPC contains information about a property’s energy use and typical energy costs and steps to improve a property’s energy efficiency.

    The Standard Assessment Procedure (SAP) for the energy rating of dwellings) is the methodology currently used by the government to estimate the energy performance of homes. A SAP score provides a rating between 1 and 100, this range is then divided into categories A (best) to G (worst).

    The new criteria introduced for phase two will include:

    • An average SAP score of 92+ (EPC A)

    • More than 90% of waste from the site avoids landfill

    • Biodiversity Net Gain of over 20%

    • More than 50% of new homes will be Zero Bills ready

    • Regeneration of a brownfield site

    • Potable water usage reduced to less than 110L per person per day

    • Use of Mixed Methods of Construction (MMC) in the fabric of the building

    • The Real Living Wage must be paid to all workers on site

    • The borrower to support Lighthouse Charity, a leader in mental health within the construction industry

    • More than 25% of units to be affordable built on-site, or in line with local social housing plans

    All schemes must also deliver the following KPIs as a minimum:

    • All homes to be fossil fuel free

    • Every scheme to have average SAP score of 85+

    About Homes England 

    We are the government’s housing and regeneration Agency, and we’re here to drive the creation of more affordable, quality homes and thriving places so that everyone has a place to live and grow.  

    We make this happen by working in partnership with thousands of organisations of all sizes, using our powers, expertise, land, capital and influence to bring investment to communities and get more quality homes built. 

    Learn more about us: https://www.gov.uk/government/organisations/homes-england/about

    Press Office Contact Details 

    Email: media@homesengland.gov.uk 

    Phone: 0207 874 8262 

    About Octopus Real Estate

    Octopus Real Estate, part of Octopus Investments, is a specialist real estate investor and lender delivering quality, sustainable places to live for every stage of life. Through our role as an investor, lender, and landlord, we fund the entire lifecycle of real estate ─ reimagining its future.

    We have more than £3.7bn in real estate assets and secured lending, working with our partners to deliver greener homes for people to buy or rent, increase the supply of genuinely affordable housing, and build communities that meet the aspirations of elderly people. We also transform underused land and properties that require regeneration and redevelopment.

    We believe that real, lasting change can only be achieved if businesses invest in the right way. We work with people who share our values and take our responsibilities to the communities we serve seriously. Together, we’re harnessing change to build a better tomorrow.

    About Lighthouse

    The Lighthouse Construction Industry Charity is the only charity that provides emotional, physical and financial wellbeing support to the construction community and their families.

    Our mission is to ensure that our construction community can easily access the emotional, physical and financial wellbeing support they need and to develop healthy and sustainable futures for this generation and the next.

    Updates to this page

    Published 2 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Cassidy, Kennedy Introduce Resolution to Honor the Life of Former Senator J. Bennett Johnston

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy
    WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA) and John Kennedy (R-LA) introduced a resolution honoring the life of former U.S. Senator J. Bennett Johnston, Jr., who represented Louisiana in the U.S. Senate from 1972 to 1997.
    “J. Bennett Johnston was a North Louisiana guy who fought for the whole state. He wasn’t the kind of senator who went to Washington just to vote ‘no,’” said Dr. Cassidy. “He voted ‘yes’ when it meant more energy jobs, more investment, and a better future for Louisiana. You can go around the entire state and see the impact he had—he made life better for Louisianans in real, tangible ways.”
    “Sen. J. Bennett Johnston was a Louisiana champion and a champion for Louisiana. He played big but spoke softly. Composure was his superpower. Bennett loved Louisiana, loved America, and loved his family. He was a great senator. Louisiana weeps. Becky and I send our condolences to the Johnston family and our everlasting thanks to Bennett,” said Senator Kennedy.
    Johnston was born in Shreveport, Louisiana in 1932 and served in both the Louisiana House and Senate before being elected to the U.S. Senate. He served on several major committees, including the U.S. Senate Energy and Natural Resources Committee, which he chaired from 1987 to 1995. He played a leading role in shaping U.S. energy policy, working to expand offshore energy production, deregulate natural gas markets, and strengthen America’s energy independence. He also led on other issues important to Louisiana such as flood and hurricane protection and preserving the state’s wetlands.
    Johnston passed away on March 25, 2025, at the age of 92.
    Read the full resolution here.

    MIL OSI USA News –

  • MIL-OSI USA: Dr. Rand Paul Introduces Bill to End Costly Taxpayer Subsidies for Electric Vehicles

    US Senate News:

    Source: United States Senator for Kentucky Rand Paul
    FOR IMMEDIATE RELEASE:
    April 1st, 2025
     Contact: Press_Paul@paul.senate.gov, 202-224-4343
     
     
    Washington, D.C. – Today, U.S. Senator Rand Paul (R-KY) introduced the End Taxpayer Subsidies for Electric Vehicles Act. The End Taxpayer Subsidies for Electric Vehicles Act would eliminate costly government subsidies, allowing the electric vehicle (EV) market to compete on a level playing field while saving taxpayers billions of dollars. A companion bill is being led by Rep. Tom McClintock (R-CA 05.) in the U.S. House of Representatives.
    “For too long, the federal government has picked winners and losers in the auto industry, forcing hardworking Americans to subsidize expensive electric vehicles that many cannot afford,” said Dr. Paul. “The End Taxpayer Subsidies for Electric Vehicles Act restores competition in the EV market by ending taxpayer-funded handouts.”
    Key Provisions of the End Taxpayer Subsidies for Electric Vehicles Act:
    Cuts Federal Spending – Eliminates the Clean Vehicle Credit, saving billions and reducing the national debt.
    Boosts Market Competition – Encourages automakers to innovate and cut EV costs without taxpayer-funded incentives.
    Ensures Tax Fairness – Prevents subsidies that mainly benefit the wealthy, protecting lower and middle-income taxpayers.
    Supports Auto & Energy Jobs – Levels the playing field for gas, hybrid, and EV markets while preserving industry jobs.
    You can read it HERE.

    MIL OSI USA News –

  • MIL-OSI: Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios as of March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, April 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 March 31, 2025.

    As of March 31, 2025, the Company’s net assets were $2.5 billion, and its net asset value per share was $14.64. As of March 31, 2025, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 639% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 486%.

     STATEMENT OF ASSETS AND LIABILITIES
    MARCH 31, 2025   // (UNAUDITED)
        (in millions)
    Investments   $ 3,447.3  
    Cash and cash equivalents     17.2  
    Accrued income     2.5  
    Other assets     1.1  
    Total assets     3,468.1  
         
    Credit facility     78.0  
    Notes     409.7  
    Unamortized notes issuance costs     (2.6 )
    Preferred stock     153.6  
    Unamortized preferred stock issuance costs     (1.2 )
    Total leverage     637.5  
         
    Other liabilities     8.6  
    Current tax liability, net     1.8  
    Deferred tax liability, net     344.3  
    Total liabilities     354.7  
         
    Net assets   $ 2,475.9  
     

    The Company had 169,126,038 common shares outstanding as of March 31, 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 March 31, 2025 were:

            Amount
    (in millions)
    		 % Long Term
    Investments
    1. The Williams Companies, Inc. (Midstream Energy Company)   $361.5   10.5 %
    2. Enterprise Products Partners L.P. (Midstream Energy Company)     353.6   10.3 %
    3. Energy Transfer LP (Midstream Energy Company)     345.7   10.0 %
    4. MPLX LP (Midstream Energy Company)     329.7   9.6 %
    5. Cheniere Energy, Inc. (Midstream Energy Company)     265.2   7.7 %
    6. Kinder Morgan, Inc. (Midstream Energy Company)     223.1   6.5 %
    7. Targa Resources Corp. (Midstream Energy Company)     203.0   5.9 %
    8. ONEOK, Inc. (Midstream Energy Company)     201.6   5.8 %
    9. TC Energy Corporation (Midstream Energy Company)     159.1   4.6 %
    10. Western Midstream Partners, LP (Midstream Energy Company)     150.5   4.4 %

    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: SCHUMER REVEALS: WITH TRUMP’S DESTRUCTIVE TARIFFS SET TO START TOMORROW, THE COST TO UPSTATE NY IS A $7 BILLION GUT PUNCH, WITH $6,000+ IN HIGHER PRICES FOR FAMILIES PER YEAR; SENATOR SAYS WE MUST…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    FOR IMMEDIATE RELEASE:
    Tuesday, April 1, 2025
    Contact: Ryan Martin, 202-680-0427
    SCHUMER REVEALS: WITH TRUMP’S DESTRUCTIVE TARIFFS SET TO START TOMORROW, REVEALS THE COST TO UPSTATE NY IS A $7 BILLION GUT PUNCH , WITH $6,000+ IN HIGHER PRICES FOR FAMILIES PER YEAR; SENATOR SAYS WE MUST STOP DAMAGING TRADE WAR WITH ALLIES LIKE CANADA AND PROTECT NY FAMILIES, BUSINESSES & JOBS
    Trump’s Tariffs – Set To Start Tomorrow – Could Raise Prices On New Yorkers As Much As $6,500 For Gas, Groceries, Cars And Everyday Goods – All While Decimating Small Businesses, Killing Good-Paying Jobs, Shrinking 401K’s And Damaging Upstate NY’s Vital Tourism Industry
    Schumer Says Stock Market Is Already Hitting Lowest Point In Years Due To Trump Tariff Chaos, Hurting Upstate Seniors’ Retirements – And Leading To Fears Of A Recession
    Schumer: Trump’s Tariffs Mean Higher Prices, Lower Life Savings And Lost Jobs For Upstate Families
    With President Trump’s “Liberation Day” for his destructive tariffs set to start tomorrow, U.S. Senator Chuck Schumer today revealed data on the devastating impacts of this unstrategic and damaging tariff war on Upstate New York’s families, small businesses, and jobs – increasing costs for families by up to $6,500 for gas, groceries, cars, and common goods and potentially impacting 150,000+ jobs in directly targeted industries across Upstate New York. The senator said he has gotten calls from farmers, worried workers, and factory owners scrambling in the face of coming tariffs, and said it will be NY businesses, seniors and working- and middle-class class families who will be footing the bill for this tariff war  – in the form of higher prices, a slower economy and shrinking life savings.
    “Tomorrow Trump says he will begin imposing his destructive sweeping tariffs, and if that happens it will be a gut punch to Upstate NY’s economy. Plain and simple, Trump’s tariffs are a tax increase on Upstate New York, a massive new destructive national sales tax for all of America,” said Senator Schumer. “Trump’s tariff war has already created chaos, and the economic uncertainty is causing the stock market to fall, hurting seniors’ retirements, cratering consumer confidence, and jeopardizing the jobs of thousands of New Yorkers. If this tariff war continues, it could devastate Upstate NY’s economy in ways we haven’t seen since the height of the pandemic. President Trump has said straight up that he doesn’t care if prices go up – Well, I do. I am all for addressing trade imbalances. In fact, Trump should be spending far more time going after China’s long-standing trade cheating that has robbed upstate NY of jobs for far too long, rather than picking a trade war with Canada that will only cost more NY jobs and drive up prices for everyone.”
    Schumer explained that consumers bear the cost of tariffs, and Trump’s tariff war is expected to increase costs for American families by up to $6,500 according to the latest analysis of his sweeping plans. According to the Yale Budget Lab, this would increase costs for the average American family by up to:
    Schumer added, “Trump’s tariffs are already slowing sales, and tourism from Canada is down, hurting Upstate’s restaurants and Main Streets. No matter which way you slice it, costs are going to sky rocket for consumers. If you’re in Upstate New York, you’ll feel it first, and worse than just about anywhere in the country. We need everyone, especially NY Republicans, to stand up against Trump’s senseless, job-killing, cost-increasing tax on Upstate New Yorkers.”
    Rising costs will force families to reconsider how they spend their money, which is already causing consumer confidence to plummet said Schumer, and NY families and businesses are expected to pay approximately $7.17 billion total due to Trump’s tariffs, including and $568 million on steel and aluminum.
    According to the New York Times, nearly 8 million Americans work in industries targeted by Trump’s tariffs, including approximately 159,400 in Upstate New York. A regional breakdown of jobs in industries directly impacted by tariffs based on the New York Times analysis can be found below, which does not even account for all the related jobs such as the tourism industry that are also being impacted by the damage of this trade war:

    NY Region

    Jobs In Industries Directly Targeted by Tariffs Most At Risk

    Capital Region

    14,400

    Western New York

    30,100

    Rochester-Finger Lakes

    33,200

    Central New York

    16,100

    Hudson Valley

    27,800

    Southern Tier

    17,300

    Mohawk Valley

    10,000

    North Country

    6,100

    UPSTATE NY TOTAL

    155,000

    Canada is New York State’s top importer and exporter, last year importing $20.5 billion of goods from Canada and exporting $17.4 billion. 70% of Canadian imports are used to manufacture American-made products. Every day, $2.5 billion worth of goods cross the United States-Canada border. People across Upstate New York will especially feel the impact of Trump’s tariffs on Canada given the interconnection of Upstate NY’s economy and trade with Canada.

    What Upstate NY Will See

    Impacts

    Increasing costs for businesses in every industry

    $6 billion in lumber and wood products for the U.S. homebuilding industry came from Canada in 2024, exacerbating costs for affordable housing.

    Canadian tourism slowing down, hurting local businesses

    The Canadian government is encouraging Canadians to boycott travel to the United States, according to the New York Times. Maine has been seeing significant cancellations and Upstate New York could be next on the chopping block, which would have devastating impacts especially with the summer tourist season rapidly approaching.
    45% of Quebecois who had planned vacations in the U.S. this year were now canceling those plans, leading to $3 billion in lost revenue for U.S. businesses, according to the Quebec Tourism Industry Alliance.
    Car crossings from Canada through Plattsburgh in the North Country were down 16% from February 2024, according to the Albany Times Union. There is a projected overall 21% reduction in American travel from Canada.

    Higher costs at the grocery store for families and local restaurants

    Canada leads in exports of grain, livestock and meats, poultry, and more, according to CNN. In 2023, the United States imported about $40 billion in agricultural food products from Canada, ranging from baked goods to canola oil, according to Eater.
    70% of maple syrup globally comes from Canada, and more than 60% of maple exports went to the United States which would get more expensive, according to the New York Times.
    The price of beef could rise because Canadian ranchers are afraid of Trump’s tariffs and shrinking cattle herds, according to Reuters. Beef and pork account for nearly $4 billion in Canadian imports, according to Eater.
    The price of groceries could increase by $185 – or approximately 3% – every year, according to Eater.

    Nearly 160,000 Upstate New York jobs in industries targeted by tariffs at risk, plus many more in related industries like tourism

    Over 680,000 New York jobs depend on trade with Canada. Nearly 160,000 jobs in Upstate New York are in industries directly targeted by Trump’s tariffs and at risk, according to the New York Times.
    The U.S. Travel Association warned that even a 10% reduction in Canadian travelers would translate to $2.1 billion in lost spending and jeopardize 140,000 hospitality jobs nationwide, according to Forbes, many of which would be in Upstate NY as one of the most popular close by destinations.

    Higher electricity, heating, and gas bills for our families, small businesses, and manufacturers

    Electricity is a $7 billion commodity market in New York, and the state imports hundreds of millions of dollars of Canadian electricity annually.
    While the amount varies by month and year, the reliable clean power imported from Canadian dams is critical, and a tariff on Canadian electricity imports would likely raise rates for New Yorkers.
    In response to the Schumer-Hochul letter to New York energy regulators on the tariffs, agency staff assert that electricity costs could increase by $42 to $105 million per year, and that:
    Gasoline prices could increase by $26 million per year
    Heating oil costs could increase by $57 million per year
    Diesel costs could increase by $48 million per year
    Propane costs could increase by $16 million per year; and
    Natural gas costs could increase by $4.4 million per year

    Trump has already delayed the start of his tariffs twice, creating uncertainty for families and small businesses and triggering volatility for the American economy. Trump’s tariff uncertainty is causing the stock market to fall, hurting Upstate New York seniors’ retirements. According to Bloomberg, the stock market rout has intensified in anticipation of Trump’s next tariff rollout, with concerns about recessions leaving the S&P 500 Index on track for its worst quarter compared to the rest of the world since the 1980s.
    Trump in February declared an emergency on fentanyl, which is how he is justifying tariffs on goods from Canada. Schumer explained that less than 0.2% of fentanyl entering the United States comes from Canada, and instead of helping combat the fentanyl crisis, these tariffs will only harm American families, small businesses, and jobs. Schumer said the Senate will vote on a resolution later today terminating Trump’s national emergency that is justifying his destructive tariffs that would require Republican support.

    MIL OSI USA News –

  • MIL-OSI USA: US files civil forfeiture complaint for $47 million in proceeds from Iranian oil sale following ICE investigation

    Source: US Immigration and Customs Enforcement

    WASHINGTON – An investigation by U.S. Immigration and Customs Enforcement has resulted in a civil forfeiture complaint alleging that $47 million in proceeds from the sale of nearly one million barrels of Iranian petroleum is forfeitable as property of, or affording a person a source of influence over, the Islamic Revolutionary Guard Corps or its Qods Force, designated Foreign Terrorist Organizations.

    The forfeiture was announced by ICE Homeland Security Investigations New York acting Special Agent in Charge Michael Alfonso; Sue J. Bai, head of the Justice Department’s National Security Division; U.S. Attorney Edward R. Martin, Jr., for the District of Columbia; and FBI Special Agent in Charge Alvin M. Winston, Sr. of the Minneapolis Field Office.

    “Through the work of HSI’s Counterproliferation Investigations group, alongside the FBI, the U.S. government has seized $47 million worth of funds allegedly meant for terrorist groups intent on causing catastrophic harm,” said ICE HSI New York acting Special Agent in Charge Alfonso. “The expertise of HSI personnel, coupled with federal law enforcement’s whole-of-government approach, ensures the wellbeing of the United States and our innocent foreign counterparts, alike. We are relentlessly utilizing every tool at our disposal in pursuit of any and all security threats.”

    The forfeiture complaint alleges a scheme between 2022 and 2024 to facilitate the shipment, storage, and sale of Iranian petroleum product for the benefit of the IRGC and IRGC-QF. The facilitators used deceptive practices to masquerade the Iranian oil as Malaysian, including by manipulating the tanker’s automatic identification system to conceal that it onboarded the oil from a port in Iran. The facilitators presented falsified documents to the Croatian storage facility and port authority, claiming that the oil was Malaysian. The facilitators paid for storage fees associated with the oil’s storage at the Croatian facility in U.S. dollars, transactions that were conducted through U.S. financial institutions that would have refused the transactions had they known they were associated with Iranian oil. The petroleum product was sold in 2024, and the United States seized $47 million in proceeds from that sale.

    The civil forfeiture complaint further alleges that the petroleum product constitutes the property of the National Iranian Oil Company, which has perpetuated a federal crime of terrorism by providing material support to the IRGC and IRGC-QF. As alleged, profits from petroleum product sales support the IRGC’s full range of malign activities, including the proliferation of weapons of mass destruction and their means of delivery, support for terrorism, and both domestic and international human rights abuses.

    “We will aggressively enforce U.S. sanctions against Iran, in furtherance of President Trump’s maximum pressure campaign,” said U.S. Attorney Martin. “With the continued seizures of Iranian oil and U.S. dollar profits, we are sending a clear message to Iran that bypassing the sanctions put in place by the U.S. Government is not as easy as playing a shell game with tankers filled with oil. We remain committed to thwarting Iran’s devious attempts, and to deprive its terrorists of the funding they desire.”

    “The FBI will not allow hostile regimes to evade U.S. sanctions or exploit our financial systems to fund designated terrorist organizations,” said FBI Special Agent in Charge Winston. “The FBI, alongside our partners, will relentlessly enforce U.S. sanctions against Iran and safeguard U.S. national security by disrupting illicit networks that seek to profit from sanctioned oil sales.”

    Funds successfully forfeited with a connection to a state sponsor of terrorism may in whole or in part be directed to the U.S. Victims of State Sponsored Terrorism Fund.

    ICE HSI New York and FBI Minneapolis Field Office are investigating the case.

    MIL OSI USA News –