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Category: Energy

  • MIL-OSI Australia: Regional Ministerial Budget Statement 2025-26

    Source: Workplace Gender Equality Agency

    On behalf of the Albanese Labor Government, I’m proud to deliver our fourth Regional Ministerial Budget Statement.

    I’d like to acknowledge the traditional custodians of where we are today, and pay my respects to their Elders past, present and emerging.

    Mr Speaker, across our first term in Government, our message to regional Australians has been loud and clear – your postcode shouldn’t be a barrier.

    Just because you grow up in Bega on the NSW Far South Coast, or in Gladstone in Central Queensland, and just because you live at Mount Gambier in regional South Australia, or in the Pilbara Region in outback WA – doesn’t mean that the services, and the opportunities available to you should be second best.

    I say this as a proud regional Member of this place, and on behalf of my fantastic regional colleagues here with me today. 

    I say this as someone that’s always lived in our regions – from Traralgon in regional Victoria, to Merimbula on the NSW Far South Coast – where I watched my parents work hard every day to build a small business, and to provide our family with a better life.

    A regional community where I myself now run a small business with my husband, and where we’re raising our kids.

    And I say this as someone that’s had the privilege of spending a lot of time talking to regional people across Australia – both as the Member for the Mighty Eden-Monaro, and as Minister for Regional Development, Local Government and Territories.

    From the Hunter region in NSW, Caboolture in regional Queensland, Devonport in Tasmania – to communities across the 42,000 square kilometres in my electorate.

    Regional Australia is a great place to live, work, study, visit and invest – and I wouldn’t live anywhere else.

    Our regions generate a third of the nation’s economic output, and there’s so many opportunities that our Government wants to take advantage of.

    But you’d be living under a rock if you said life outside of our big cities doesn’t come without its unique challenges – it absolutely does. 

    Unlike those opposite though, on this side of the House we’re not shying away from that.

    I’m proud to be part of a Government that across its first term, has delivered record investments to improve the reliability and the accessibility of critical services that regional people rely on.

    To support more regional people to work and train closer to home – because you shouldn’t have to pack your bags to build your career. 

    To build more things in our own backyard, investing in the hard-work and know-how of regional people.

    To give regional Australians more support to buy or rent a home.

    To support local businesses and local economies to grow – with small businesses in particular the backbone of our regions.

    To ensure the local roads we drive every day to drop the kids off at school and to get to work, are safe, and keep pace with growing communities.

    To improve our major highways linking our cities to our regions, so more visitors support our local businesses, and experience everything we have to offer.

    To keep our regions connected and better prepared for natural disasters – something many regional communities, including across Eden-Monaro, have needed to rebuild from.

    And most importantly, to relieve immediate pressures on regional families and businesses.

    Which let’s not forget, those opposite talk a big game on – despite opposing every single cost of living measure to date, and committing to tearing apart every measure that’ll support regional Australians into the future.

    Because while we’re delivering record investments to Build Regional Australia’s Future, the wreckers opposite are determined to leave regional communities which aren’t the right colour on their spreadsheets behind.

    The Albanese Government is delivering better outcomes for every regional community – because we’re addressing the challenges, harnessing the opportunities, and taking the needs of our regions seriously. 

    Through our Regional Investment Framework, we’re ensuring targeted investments support regional people, the places they live, the services they need, and the industries that stimulate local economies.

    With investments through the 2025-26 Budget building on everything we’ve delivered across our first term. 

    Our number one priority has been easing pressures faced by regional families and businesses today, while supporting more work, training and economic opportunities outside of our big cites. 

    We’ve delivered tax cuts for every regional taxpayer – a huge impact for taxpayers in my own electorate of Eden-Monaro, putting an average of $1,633 back into their pockets, with another two tax cuts on the way – something those opposite just voted against.

    We’ve delivered $300 in Energy Bill Relief to millions of households and $325 to small businesses, along with cheaper childcare and cheaper medicines.

    We’ve cut $3 billion in student debt, with a further 20 per cent to be cut if we’re re-elected.

    And we’ve supported over 127,000 free TAFE places in our regions – from construction courses to childcare.

    We’re getting more people into industries screaming out for workers, after those opposite gutted the vocational education system during their failed decade.

    We’ve introduced legislation to make free TAFE permanent – something those opposite have said they’ll repeal, because as the Deputy Leader of the Opposition said in this very chamber – “if you don’t pay for it, you don’t value it.”

    But I want my kids and every regional person to know – your postcode and your bank balance shouldn’t limit your potential.

    Through this Budget we’ll provide additional cost-of-living relief, along with increased investments to remove study barriers.

    $1.8 billion to provide all households, and around one million small businesses, with an additional $150 in Energy Bill Relief.

    $800 million to expand our Help to Buy scheme to support more people get into their own home – including in our regions.

    This builds on the 32,000 regional Australians we’ve already helped into home ownership, through the Regional Home Guarantee.

    $626.9 million to support $10,000 incentive payments for construction sector apprentices – with $7.0 million to increase the Living Away from Home Allowance for apprentices.

    As an operator of a small plumbing business that hires apprentices, and having recently spent time with bricklaying apprentices at Queanbeyan – I know that every cent counts when you’re starting out, especially when you’re living away from home.

    That’s why we’re boosting apprentice wages and easing cost-of-living pressures – because we value their hard work, and we know that building this workforce is essential to delivering more regional homes.

    My mum, dad, brother, sister and husband all went to TAFE, which is why I’m incredibly proud to be part of a Government that’s strengthening the sector – and ensuring more regional people can build a better future. 

    Through this Budget, we’re delivering $407.5 million to states and territories, as part of the Better and Fairer Schools Agreement.

    Record funding to give our teachers, including in our regional schools, more support – to lift education standards, and to better support students from kindergarten through to year 12. 

    And if you want to go onto further study, existing investments like the 56 Regional University Study Hubs we’re delivering – from Port Augusta in South Australia, to Goulburn in my own electorate – will mean you don’t have to leave the region you love.

    A further $33.6 million will also flow to the Clontarf Foundation to support up to 12,500 First Nations boys and young men access better education support.

    We’re delivering record investments to continue improving the affordability and accessibility of regional healthcare – because when you need to see the doctor, and when you need to buy your script, your street address and wallet shouldn’t stop you. 

    We’ve already delivered $3.5 billion to triple the bulk billing incentive, supporting over 2.4 million additional claims across regional Australia.

    Through this Budget, we’re investing an additional $7.9 billion to deliver more bulk billing to all Australians, including in our regions.

    Having delivered the largest cut to the cost of medicines in the history of the Pharmaceutical Benefits Scheme, we’re now making cheaper medicines even cheaper.

    $689 million to bring a PBS script down to $25, keeping more money in the hip pockets of regional Australians – with our pensioners and concession cardholders to continue paying $7.70 for PBS medicines until 2030.

    $792.9 million to deliver more choice, lower costs and better health care for women – including the first PBS listing for new oral contraceptive pills in more than 30 years.

    Along with more bulk billing for long-term contraceptives, more endometriosis and pelvic pain clinics to treat more conditions, and more Medicare support for women experiencing menopause. 

    Regional health and aged care were left in crisis under those opposite – a mess the Albanese Government has been cleaning up from day one.

    We’ve delivered $17.7 billion to fund increases to the minimum award wage for aged care workers – to not only support and retain these critical workers – but to ensure that our loved ones get the care they need, as they get older.

    We’re delivering an additional $1.8 billion to strengthen our public hospitals and to reduce waiting times across Australia, bringing our hospital funding to a record $33.9 billion in 2025-26.

    We’ve also increased the number of regional GP training places, along with waiving HECS for doctors and nurses that work in our regions – getting more skilled workers where we need them most.

    Through this Budget, we’re investing $662.6 million to grow our health workforce.

    There will be hundreds more GP and rural generalist training places to grow the pipeline of future GPs – with fairer salary incentives for junior doctors who choose general practice as their specialty.

    100 more Commonwealth Supported Places for medical students a year from 2026, increasing to 150 more a year by 2028 – with a focus on encouraging students to pursue general practice in our regions.

    And hundreds of scholarships for nurses and midwives, to help meet our current and future demands.

    A re-elected Albanese Government will deliver another 50 Medicare Urgent Care Clinics across Australia, from Burnie in Tasmania, to Bega in my own electorate – with our $644.3 million investment.

    This builds on the 87 Medicare Urgent Care Clinics we’ve already delivered, which are making a huge difference.

    With 48 of these 137 clinics to be in our regions– from Broome in Western Australia, Townsville in Queensland, to Tamworth in New South Wales.

    The Urgent Care Clinic we delivered in Queanbeyan has already supported over 7,000 fully bulk billed presentations.

    Rusty, a local constituent of mine told me about the huge difference it made for him, when he had an infection.

    He walked right into the clinic and received the help he needed, for free – a service that’s also supported his children and grandchildren.

    As Rusty said, this type of clinic is critical to taking pressure off our hospitals – as we continue to rebuild the health sector.

    But regional services like this will cease to exist under those opposite, because you only have to look at the billions cut from Medicare by the Leader of the Opposition when he was Health Minister, to know their only plan for Medicare is cuts.

    No government has done more for regional services than the Albanese Government – but healthcare wasn’t the only service completely abandoned during the wasted decade by those opposite.

    We’re already investing $2.2 billion to strengthen regional communications, particularly in disaster-prone areas – after programs like the Mobile Black Spot Program were pork-barrelled by those opposite.

    Through our record investments in the NBN, we’ve fixed half of some streets being stuck on the unreliable copper network they rolled out, including just 15 minutes down the road at Jerrabomberra.

    Because it actually takes a little bit more than a string and a can to run a small business, and to work and study from home.

    In this Budget, we’re providing an additional $3.0 billion in equity funding to NBN Co to complete upgrades for all remaining Fibre to the Node premises, including connecting an additional 334,000 regional premises to high speed internet.

    A service that we can’t forget, would be sold off to the highest bidder under those opposite.

    We’re also introducing a Universal Outdoor Mobile Obligation – requiring telcos to provide access to mobile voice and SMS almost everywhere across Australia – which will have huge benefits for regional and remote communities, particularly during emergencies and disasters. 

    Natural disasters are something my own electorate of Eden-Monaro has felt deeply, which is why I’m proud the National Emergency Management Agency that we launched continues to support regional communities – most recently in Queensland and NSW during Ex-Tropical Cyclone Alfred.

    That’s on top of our $1 billion Disaster Ready Fund continuing to support regional communities to be better prepared.

    And our additional $35 million investment to boost our national aerial fleet – giving regional communities more emergency support when they need it most.

    But it’s not just during disasters when our regions need reliable aviation.

    Despite the Leader of the Nationals in the Senate telling Sky News just last week that the Opposition had been fighting for a more competitive aviation sector – the reality is they’ve sat idle at the departure gate. 

    Those opposite did nothing with the Sydney Airports Slot Review handed to them in 2021 – something we’ve responded to with our Aviation White Paper.

    And they’ve said that keeping Rex Airlines’ regional routes operating during the voluntary administration process is sabotaging the sale process.

    I’m proud the Albanese Government has kept Rex’s regional flights in the air, with an $80 million loan facility to Rex Administrators, and additional support to reduce the debt Rex owes.

    Because for regional communities like mine, these flights are critical to our local economy, accessing important health services, and for getting around.

    The reality of living in our regions is we need to travel longer for some services, which is why we’ll continue standing up for a strong regional aviation sector.

    But travelling by car is generally how we get around, which is why we’ve already increased local road funding for every council.

    Roads to Recovery funding is going up from $500 million to $1 billion per year, road Black Spot funding increasing to $150 million per year, we’ve launched our $200 million per year Safer Local Roads and Infrastructure Program – and we’ve continued investing in major transport projects.

    Because every local community should have confidence in the roads they’re driving on.

    In his Budget reply last year, the Leader of the Nationals said those opposite would deliver the strong infrastructure funding pipeline that our regional communities need. 

    But let’s not forget, they were responsible for an infrastructure pipeline that below out from 150 projects to 800 projects, without a single dollar extra being added to the Budget, and without the delivery. 

    Regional communities deserve better than promises in press release with no follow through, which is why we continue to deliver critical projects to Build Regional Australia’s Future.

    Funding through this Budget includes $7.2 billion for Bruce Highway safety upgrades in Queensland, $200 million towards duplicating the Stuart Highway from Darwin to Katherine.

    $40 million for the Main South Road Upgrade in South Australia, and $1.1 billion towards upgrades along the Western Freeway in Victoria.

    After colour-coded spreadsheets from those opposite, we’ve delivered on our commitment to establish transparent grant programs that every postcode can apply for.

    Our $600 million Growing Regions Program is already supporting 112 projects, with 29 projects supported under our $400 million Regional Precincts and Partnerships Program so far. 

    I had the pleasure of visiting Wagga’s Lake Albert – one of this region’s most popular recreational sites, which will be completely transformed thanks to $4.4 million in Growing Regions Funding.

    Projects like this are making our regions better places to live, to work and to invest – but having more housing to attract and retain workers is something every community tells me they need.

    We’ve already committed $32 billion in housing measures, including over 13,000 homes nationally under the first round of our Housing Australia Future Fund – many of these in our regions.

    That’s more than those opposite delivered in an entire decade – when they had no plan for building, and their only idea for turning more keys was letting people raid their super for a deposit. 

    To their credit, they’ve now said they’ll fund enabling infrastructure – labelling this a fantastic idea.

    So fantastic, we’re already doing it – through our $1.5 billion Housing Support Program.

    Including $27.2 million to support upgrading Marulan’s sewage treatment in the Mighty Eden-Monaro – laying the foundations for more housing.

    Through this Budget, we’re delivering $54 million to turbocharge advanced manufacturing of prefabricated and modular homes, getting more homes into our regions where we need them most – lifting our total housing commitments to $33 billion. 

    More housing is a key part of how we’re Building Regional Australia’s Future, as is supporting our regional businesses and regional economies to grow.

    Under those opposite, car manufacturers left our shores, leaving our regional people behind. 

    But Labor has always had the back of regional manufacturing, and we’ve shown that again with our new investment of $2.4 billion with the South Australian Government to save the Whyalla Steelworks.

    Supporting 1,100 direct workers, and encouraging more investment into Australian made steel. 

    This builds on our existing $22.7 billion Future Made in Australia agenda, ensuring we build more in our own backyard – which includes over $500 million to boost Australia’s battery manufacturing capabilities, and $1 billion to supercharge the production of solar panels in our regions.

    Our investments are putting regional communities at the centre of industries of the future – unlocking more secure and well-paid regional jobs, and ensuring that we train and retrain regional workforces.

    This includes $38.2 million to boost the diversity of our STEM workforce, with a focus on supporting more women secure jobs in these critical industries.

    Through this Budget, we’re delivering further investments to Build Regional Australia’s Future – by leveraging the competitive advantages that come with our vast energy resources, world-leading agricultural sector, and regional innovation.

    $250.0 million to accelerate the pace of Australia’s growing domestic Low Carbon Liquid Fuels industry – helping to drive economic growth and jobs in regional areas.

    $1.0 billion under our Green Iron Investment Fund to boost green iron manufacturing in our regions.

    This builds on our existing commitment of $2.0 billion to support aluminium smelters transition to renewables – in places like Portland in Victoria, Tomago in NSW, and in Queensland’s Gladstone region.

    From our factories to our fields, we’re backing our regions – with $11.0 million to tackle established pests and weeds in our agriculture and forestry sectors – keeping them productive

    An additional $20 million for a new round of the On Farm Connectivity Program so farmers can use the latest technology to make their work more efficient.  

    And $20.0 million to encourage more Australians to buy Australian-made products, which will have huge benefits for regional economies – because so much of what we love and rely on comes from our regions.

    In his Budget reply last year, the Leader of the Nationals said the Opposition will take decisive action to give regional Australians a fair go.

    But all we’ve seen since then is those opposite continue to vote against every single cost of living measure, while petrifying regional communities with their Nuclear thought bubble.

    An idea that was announced with zero consultation, and most importantly – one that will deliver zero savings for regional Australians and their power bills. 

    Since my last Regional Budget Statement, the Albanese Government has continued to relieve pressures on regional families and businesses, while improving access to the services and support regional people rely on – regardless of their postcode.

    Through our 2025-26 Budget we’re delivering more energy bill relief, making cheaper medicines even cheaper, and providing extra support to get more regional Australians into their own home.

    We’re strengthening Medicare and expanding regional health services, delivering further investments to boost regional connectivity, and investing in more support to help build workforces in our in-demand sectors.

    That’s because only the Albanese Government is serious about Building Regional Australia’s Future.

    MIL OSI News –

  • MIL-OSI United Nations: Can renewable energy survive climate change?

    Source: United Nations MIL OSI b

    The race towards renewable energy is accelerating, and for all the looming challenges of the climate crisis, signs of progress are there: Solar panels are beginning to blanket deserts, wind turbines dot coastlines, and hydropower dams are harnessing powerful rivers to churn out clean electricity.

    Yet, even as the push for renewables gains momentum – driven by cheaper technology and an urgent need to slash carbon emissions – experts are waving cautionary flags: Because renewable energy sources depend on weather conditions, climate change is increasingly dictating, and jeopardizing, renewable energy production.

    This trend became more pronounced in 2023, marked by a volatility that disrupted renewable energy generation globally. Temperatures soared 1.45°C above pre-industrial levels, and the shift from La Niña to El Niño altered rainfall, wind patterns, and solar radiation.

    Hamid Bastani, a climate and energy expert with the World Meteorological Organization (WMO), provided a stark example of this impact. “In Sudan and Namibia, hydropower output dropped by more than 50 per cent due to unusually low rainfall,” he said in an interview with UN News.

    In Sudan, rainfall totaled just 100 millimeters (less than four inches) in 2023—less than half the national long-term average.

    “This is a country where hydropower makes up around 60 per cent of the electricity mix. These reductions could have significant implications,” Mr. Bastani explained, noting that the power system supports a large and rapidly growing population of about 48 million.

    These shifts were not limited to hydropower. Wind energy, too, showed signs of stress under changing climate conditions.

    China, which accounts for 40 per cent of global onshore wind capacity, saw only a modest 4 to 8 per cent increase in output in 2023, as wind anomalies disrupted generation. In India, production declined amid weaker monsoon winds, while some regions in Africa experienced even sharper losses, with wind output falling by as much as 20 to 30 per cent.

    South America, meanwhile, saw the scale tip in the other direction. Clear skies and elevated solar radiation boosted solar panel performance, particularly in countries like Brazil, Colombia, and Bolivia.

    As such, the region saw a four to six per cent increase in solar generation – a climate-driven bump that translated to roughly three terawatt-hours of additional electricity, enough to power over two million homes for a year at average consumption rates.

    “This is a good example of how climate variability can sometimes create opportunity,” explains Roberta Boscolo, who leads WMO’s New York Office and formerly the agency’s climate and energy work. “In Europe, too, we are seeing more days with high solar radiation, meaning solar power is becoming more efficient over time.”

    Ms. Boscolo and Mr. Bastani are among the contributors to a recent WMO–IRENA study examining how climate conditions in 2023, shaped by El Niño, global warming, and regional extremes, affected both renewable energy generation and energy demand worldwide.

    ADB/Patarapol Tularak

    Solar power accounted for over 73 percent of all new renewable capacity added globally in 2023, making it the fastest-growing source of energy worldwide.​

    Systems built on stability, in a world that is anything but

    Ms. Boscolo, who has spent years working at the intersection of climate science and energy policy, is quick to point out the vulnerability of renewable energy infrastructure. Dams, solar farms, and wind turbines are all designed based on past climate patterns, making them susceptible to the changing climate.

    Take hydropower. Dams rely on predictable seasonal flows, often fed by snowmelt or glacial runoff. “There will be a short-term boost in hydropower as glaciers melt,” she said. “But once those glaciers are gone, so is the water. And that is irreversible – at least on human timescales.”

    This pattern is already unfolding in regions like the Andes and the Himalayas. If the meltwater disappears, countries will need to replace the way they generate power or face long-term energy deficits.

    A recent report from the UN Environment Programme (UNEP), for example, pointed out that rising sea levels and stronger storms pose growing risks to energy production facilities, including solar farms located near coastlines.

    Similarly, increasingly intense and frequent wildfires can also take down power lines and black out entire regions, while extreme heat can reduce the efficiency of solar panels and strain grid infrastructure—just as demand for cooling peaks.

    Nuclear power plants are also at risk in the changing climate.

    “We have seen nuclear power plants that could not operate because of the lack of water… for cooling,” Ms. Boscolo said. As heatwaves become more frequent and river levels drop, some older nuclear facilities may no longer be viable in their current locations.

    “This is another thing that should be looked at with different eyes in the future . When we design, when we build, when we project power generation infrastructure, we really need to think about what the climate of the future will be, not what was the climate of the past”.

    IMF/Crispin Rodwell

    Global renewable electricity capacity grew by nearly 50 percent in 2023—the largest annual increase in two decades—with most additions coming from solar and wind.​

    Adapting to the future through data, AI and technology

    The expert underscores that one thing is certain: Our planet is heading towards a future in which electricity, especially from renewable sources, will be central.

    “Our transport is going to be electric; our cooking is going to be electric; our heating is going to be electric. So, if we do not have a reliable electricity system, everything is going to collapse. We will need to have this climate intelligence when we think about how to change our energy systems and the reliability and the resilience of our energy system in the future.”

    Indeed, to adapt, both experts emphasized a need to embrace what they call climate intelligence – the integration of climate forecasts, data, and science into every level of energy planning.

    “In the past, energy planners worked with historical averages,” Mr. Bastani explained. “But the past is no longer a reliable guide. We need to know what the wind will be doing next season, what rainfall will look like next year – not just what it looked like a decade ago.”

    In Chile, for instance, hydropower generation surged by as much as 80 per cent in November 2023, due to unusually high rainfall. While this increase was climate-driven, experts say advanced seasonal forecasting could help dam operators better anticipate such events in the future and manage reservoirs to store water more effectively.

    Similarly, wind farm workers can use forecasts to schedule maintenance during low-wind periods – minimizing downtime and avoiding losses. Grid operators, too, can plan for energy spikes during heatwaves or droughts.

    “We now have forecasts that span from a few seconds ahead to several months,” Mr. Bastani said. “Each one has a specific application – from immediate grid balancing to long-term investment decisions.”

    WMO/Sandro Puncet

    Improved climate forecasting can help energy systems plan days to seasons ahead.

    Artificial intelligence (AI) is lending a hand: Machine learning models trained on climate and energy data can now predict resource fluctuations with higher resolution and accuracy. These tools could help optimize when to deploy battery storage or shift energy between regions, making the system more flexible and responsive.

    “These models can help operators better anticipate fluctuations in wind, rainfall, or solar radiation”, Mr. Bastain explained.

    For example, two recent WMO energy mini projects illustrated how artificial intelligence can be applied in real-world renewable energy planning. In Costa Rica, the agency worked with national energy authorities to develop and implement an AI-based model for short-term wind speed forecasting. The tool is now integrated into the Costa Rican Electricity Institute’s internal energy forecasting platform, helping optimize operations at selected wind farms.

    In Chile, another project focused on floating solar technology, using AI to estimate evaporation rates on reservoirs. The results, now incorporated into Chile’s official Solar Energy Explorer platform, showed that floating solar panels can reduce water evaporation by up to 85 per cent in summer, with a national average of 77 per cent.

    Indeed, the promise and challenge of climate-smart renewable planning are most evident in the Global South. Africa, for instance, boasts some of the best solar potential on the planet, yet only two per cent of the world’s installed renewable capacity is found on the continent.

    Why the gap? Ms. Boscolo points to a lack of data and investment.

    “In many parts of the Global South, there just is not enough observational data to create accurate forecasts or make energy projects bankable,” she said. “Investors need to see reliable long-term projections. Without that, the risk is too high.”

    WMO is working to improve weather and energy monitoring in underserved regions, but progress is uneven. The agency is calling for more funding for local data networks, cross-border energy planning, and climate services tailored to regional needs.

    “This is not just about climate mitigation,” Ms. Boscolo added. “It is a development opportunity. Renewable energy can bring electricity to communities, drive industrial growth, and create jobs if the systems are designed right.”

    Mr. Bastani sees a need for global data sharing between energy companies and climate scientists.

    “There is a huge untapped potential in the data collected by the private sector… integrating historical and real-time observations from power plants – solar, wind, hydropower, even nuclear – can significantly improve weather and climate models. This is a win-win.”

    IMF/Lisa Marie David

    Climate forecasting helps energy companies anticipate weather-driven changes in supply and demand, improving reliability and reducing risk.

    Diversifying the energy portfolio to adapt

    Another key action to guarantee clean energy in the near future is diversification. Relying too heavily on only one renewable source can expose countries to seasonal or long-term shifts in climate, Mr. Bastani explains.

    In Europe, for example, energy planners are increasingly concerned about something called “dunkelflaute”— a period of cloudy, windless weather in winter that undermines both solar power and wind generation. This phenomenon, linked to high-pressure systems known as anticyclonic gloom, has prompted calls for more energy storage and backup power.

    “A diversified mix that includes solar, wind, hydro, battery storage, and even low-carbon sources (like geothermal) is essential,” Mr. Bastani said. “Especially as extreme weather becomes more frequent.”

    Into the future

    As the world races towards a future powered by renewable energy, addressing the challenges posed by climate change is imperative. The volatility experienced in 2023 underscores the need for climate-smart planning and infrastructure that can withstand unpredictable shifts in weather patterns.

    For renewable energy to truly fulfill its promise, the world must invest not only in expanding capacity but also in building a system that is resilient, adaptable, and informed by the best available climate science.

    WMO experts Hamid Bastani and Roberta Boscolo emphasize the importance of integrating climate intelligence into energy systems to ensure their reliability and resilience. By leveraging advanced forecasting and artificial intelligence, we can better anticipate and adapt to these changes, optimizing renewable energy production and safeguarding our future.

    The future of energy is not just about more wind turbines and solar panels, but also about ensuring they can withstand the very forces they are meant to mitigate.

    MIL OSI United Nations News –

  • MIL-OSI Australia: Statement – Commonwealth Budget

    Source: Northern Territory Police and Fire Services

    As part of ACT Government’s ‘One Government, One Voice’ program, we are transitioning this website across to our . You can access everything you need through this website while it’s happening.

    Released 25/03/2025

    The ACT Government welcomes the wide range of initiatives in the 2025-26 Commonwealth Budget that will benefit Canberrans and our city.

    Continued cost of living relief for all Canberrans

    The ACT Government welcomes new relief for Canberrans who need it most, with tax cuts across the board including a further exemption for low-income earners with increases to the Medicare levy low-income thresholds.

    We also know that Canberra households have faced significantly rising costs over the past two years, which thankfully have started to moderate. The $150 Energy Bill Relief for every household in the ACT will provide much needed relief for nearly two hundred thousand Canberra households as well as small businesses.

    Across the five jurisdictions in the National Electricity Market, the ACT is expected to have the lowest standing offers in 2025-26 – the future is renewable.

    Additionally, the Commonwealth Government’s largest investment in Medicare since its inception will help take some of the pressure off our hospital system and continue to ensure Canberrans get the care they need when they need it.

    Canberrans deserve to be able to access bulk-billed GPs and appropriately funding primary care is critical to address the complexities of demand in our health system.

    Funding for an additional urgent care clinic in Woden is delivered through the budget, as is a boost to the Pharmaceutical Benefits Scheme that will benefit all Canberrans.

    Canberrans are more likely than any other Australians to have a tertiary qualification and so will disproportionately benefit from further reductions in HECS-HELP debts; we want more Canberrans to attain tertiary qualifications for the jobs of the future and for more Australians to choose our great universities as their preferred place of study.

    Housing

    The ACT Government remains committed to delivering on the targets set out in the National Housing Accord and we are working to deliver above our per capita share of the national target of 1.2 million homes. We know that increasing housing supply will improve housing affordability, access and choice for Canberrans.

    The ACT Government welcomes the increased income and property price caps under the Government’s Help to Buy scheme which will support more Canberrans to enter the housing market with lower deposits and smaller mortgages. Purchase of homes of up to $1 million in Canberra will now be supported under the scheme, up from $750,000.

    The ACT’s apprentices in residential construction will benefit from $10,000 in cost of living completion payments, which will support the construction industry to build more homes.

    National Capital Investment Framework

    The ACT Government welcomes this additional investment into major transport infrastructure across our city.

    We will continue to work in partnership with the Commonwealth Government to deliver projects that create local jobs and strengthen our economy.

    This pipeline of investment supports our broader strategic objectives for transport planning including unlocking land for more housing, new public transport routes and improving connections with our surrounding region.

    The Budget commits another $53.5 million as part of the 2025-26 to support the next stage of growth and ensure projects across the territory can actually be delivered. This includes:

    • $30 million to complete the Monaro Highway Upgrade
    • $20 million to complete for the Monaro Highway Upgrade Stage 2 Upgrades
    • $3.5 million to complete the duplication of Gundaroo Drive

    The Budget also provides a $30 million boost over five years for the ACT under the Roads to Recovery program, which will go directly to maintaining the ACT’s existing road network. This includes $8.6 million for resurfacing the Kings Highway near Kowen.

    Under the previous Commonwealth Government, Commonwealth infrastructure investment for Canberra lagged behind the rest of the country.

    Public Service

    A strong Australian Public Service is crucial to Canberra’s economy and local businesses. The ACT Government welcomes the continued strong support for the Public Service by the Commonwealth Government which has supported continued low unemployment and strong wage growth across the broader economy.

    Over this term of government, the Commonwealth Government has supported this growth in the APS across every part of our city. The ACT Government welcomes the continued investment in the National Security Office Precinct which started construction earlier this year.

    An alternative approach of severe and prolonged cuts to the Australian Public Service would be an attack on Canberra’s economy and local businesses.

    National Broadband Network

    The ACT will be the largest proportionate beneficiary from a $3 billion investment the National Broadband Network. This investment will see 100,000 more Canberrans connected with faster and more reliable internet by upgrading remaining fibre-to-the node (FTTN) network.

    – Statement ends –

    Chris Steel, MLA | Media Releases

    «ACT Government Media Releases | «Minister Media Releases

    MIL OSI News –

  • MIL-OSI Australia: Headline and underlying inflation fall in February

    Source: Australian Parliamentary Secretary to the Minister for Industry

    New figures show that headline and underlying inflation fell last month.

    This is more positive and promising news that shows we’re making progress together in the fight against inflation.

    Monthly inflation fell to 2.4 per cent in the year to February 2025.

    Annual trimmed mean inflation fell to 2.7 per cent.

    Today’s headline result was below the median market expectation.

    Inflation was high and rising when we came to government and now it’s much lower and falling.

    Headline inflation has been at or below the midpoint of the Reserve Bank’s target band for six consecutive months.

    Underlying inflation has been below three per cent for three consecutive months.

    This is even more proof that inflation continues to moderate in our economy.

    The Budget we handed down this week continues the fight against inflation and shows that Treasury now expects inflation to return sustainably to the target band six months sooner – in the middle of this year, rather than at the end.

    Today’s result is a reminder of our substantial and sustained progress in the fight against inflation.

    Under Labor, inflation is down, wages are up, unemployment is low, interest rates have started to come down and we’ve topped up our tax relief to give every taxpayer two new tax cuts from next year.

    We know that these monthly numbers are volatile and can bounce around but the direction of travel on inflation is clear.

    On the official quarterly measure, inflation under Labor is almost a third of the 6.1 per cent we inherited. Australia’s inflation is now lower than most major advanced economies.

    While most other advanced economies have paid for progress on inflation with much higher unemployment, growth going backwards, or a recession, we’ve managed to preserve the progress we’ve made in our labour market while inflation has come down.

    Electricity prices fell 13.2 cent in the year to February but would have fallen only 1.2 per cent without the energy rebates for every household we are rolling out with the states.

    Rents rose 5.5 per cent in the year but would have increased 6.8 per cent without the recent increase to Commonwealth Rent Assistance.

    Even with this substantial progress, we know people are still under pressure and that’s why our cost‑of‑living help is so important.

    We’re delivering two new tax cuts that will put an average of about $50 a week back in taxpayers’ pockets when combined with our tax cuts from 2024.

    Our Budget is all about helping with the cost of living and finishing the fight against inflation, strengthening Medicare and building Australia’s future.

    MIL OSI News –

  • MIL-OSI China: China discovers large shale oil reserve in major oilfield

    Source: China State Council Information Office 2

    This file photo shows the drilling site of the Jiyang shale oil national demonstration zone in east China’s Shandong Province. [Photo/Xinhua]
    The China Petrochemical Corporation (Sinopec Group), the country’s largest oil refiner, has announced the discovery of more than 140 million tonnes of proven shale oil reserve in east China’s Shandong Province.
    This is the first shale oilfield with proven reserves exceeding 100 million tonnes to be certified by the Ministry of Natural Resources, and a major breakthrough in oil and gas exploration in the Jiyang shale oil national demonstration zone.
    To date, the estimated shale oil resources have reached 10.5 billion tonnes in the demonstration zone, owned by the Shengli Oilfield in Shandong, with cumulative oil output surpassing 1 million tonnes.
    “The estimated shale oil reserves of Shengli Oilfield are equivalent to the conventional oil and gas resources discovered in Shengli Oilfield over the past over 60 years,” said Sun Yongzhuang, assistant president of Sinopec and executive director of Shengli Petroleum Administrative Bureau Co., Ltd.
    The Shengli Oilfield was discovered in 1961, and its development began in 1964.
    Shale oil mainly refers to liquid hydrocarbons that are trapped in formations of shale rock that can be extracted for refining. It is often found in organic-rich shale and thin interlayers of carbonate rocks, sandstones and siltstones.
    China has established three national-level shale oil demonstration zones in Xinjiang Uygur Autonomous Region, Heilongjiang Province and Shandong Province, respectively.

    MIL OSI China News –

  • MIL-OSI Australia: Shareholder activism: reflections on the current, and future, landscape

    Source: Allens Insights (legal sector)

    Campaigns keep evolving, with more high stakes ahead 11 min read

    Last year was another big one for shareholder activists globally, with investor sentiment in 2024 taking its cues from disruption across the broader economic and geopolitical landscape. Closer to home, activity was more stable in Australia—as it typically is, owing to our smaller footprint, more stringent company laws and stable markets—but campaigns continue to evolve, with activists refining their strategies to both capitalise on financial opportunities and seek redress for governance concerns.

    We expect high stakes for the rest of the year as the Trump administration’s policies upend commercial and regulatory settings and potentially tip the scales in favour of activists. While shareholder activism is now a standard part of the investment landscape in the US, the practice is reverberating around Australia and the rest of the world.

    In this Insight, we bring together the key takeaways from 2024 and provide our thoughts on what we see ahead.

    A snapshot of the numbers

    Activist activity has well and truly bounced back from the subdued levels brought about by the pandemic.

    Over 1000 companies were targeted by activist campaigns worldwide for the second consecutive year.1 The US continues to be the epicentre of activity, with nearly 600 US-listed companies facing activist demands, marking a 7% increase from 2023 and 16% from 2022. There was a strong showing from non-traditional and first-time activists—a record-breaking 160 different investors launched campaigns in the US in 2024, which included 45 first-time activists, also a record.

    Activity in Asia was similarly strong (particularly in Japan and South Korea), though Europe trended down, owing to ongoing disruption brought about by the conflict in Ukraine and generally subdued economic activity. There, the United Kingdom hosts the lion’s share of activity, with 42% of campaigns targeting British companies.

    Australia saw a modest rise in activity year on year, with 56 companies targeted, up nominally from the 54 campaigns recorded in 2023. While the volume of campaigns remained steady, the effectiveness of Australian activists improved—activists were assessed as having achieved their objectives in 25% of resolved campaigns, up from 16% in 2023.

    Despite this, Australian activists struggled to secure board representation in target companies, with only seven board seats gained in 2024, down significantly from 26 in 2023. This divergence suggests that although activism remains a powerful force for corporate engagement, the dominant institutional investors and influential proxy advisors remain selective and largely hesitant in delivering changes at the board level.

    All up, campaign volumes continue to be strong, though success is trickier to measure. Whether the public demands of activists are met is one tangible way of assessing effectiveness, but the overall impact of a campaign can often manifest in less direct ways. For example, the opportunity cost of management in responding to a campaign, the inherent value derived from the ensuing publicity and any derivative or other trading in the target securities—and, of course, the concessions that play out behind closed doors—often contribute to the effectiveness of shareholder activism.

    Stories from the front line

    These are some of the headline-grabbing campaigns that played out in the last year or so that have set the tone for activist causes.

    One of the most closely watched activist campaigns was Glenview Capital’s attempt to gain board representation at CVS Health. Glenview increased its stake in CVS in the third quarter of 2024 by 31%, making its US$635 million holding (equivalent to 1% of the stock) the largest of all three activist hedge funds with an interest in the company. The intervention came following a 27% drop in share price since the beginning of 2024, a market reaction reportedly attributed to higher medical costs in CVS’s insurance segment caused by an influx of medical procedures delayed by the COVID-19 pandemic. Glenview secured four board seats in November 2024, including Glenview CEO Larry Robbins. It was reported that the board appointments were made amid the prospect of Glenview initiating a public and more aggressive proxy fight. This case highlights the increasing sophistication of activist investors targeting high-profile global companies, and underscores the importance of clear, proactive shareholder engagement strategies—a strategy that Australian boards should observe as activism intensifies.

    The activist campaign led by Elliott Investment Management resulted in a change of CEO at Starbucks and a correspondent increase in share value by 24%, equating to US$26 billion in value and marking the company’s most successful day since its initial public offering in 1992.

    In July 2024, it was reported that Elliott had become one of the largest investors in Starbucks, and sought to leverage its position by presenting a proposal to the board for an overhaul of domestic and international strategy. The move followed the stock price having declined by 24% since the former CEO, Laxman Narasimhan, was appointed in March 2023. While Elliott approached the board in private and did not publicly advocate for a replacement CEO, there were persistent leaks to the media, which commentators assessed as likely prompting the decision. On 13 August 2024, the board announced the appointment of Brian Niccol, former CEO of restaurant chain Chipotle, who is credited with Chipotle’s modernisation and an increase in its stock price by 770% since 2018.

    The campaign illustrates that one response strategy in dealing with activists, particularly high-profile investors, can be to move pre-emptively to instigate change before the issues are forced.

    In June 2024, Elliott also disclosed an 11% economic stake in Southwest Airlines worth US$1.9 billion, and converted enough of its derivate holdings in September to amass a 10% common stock holding that enabled Elliott to call a special meeting. Conversely to its approach for Starbucks, it engaged in a more public campaign, by proposing that ‘enhancing the board, upgrading leadership and a comprehensive business review’ were necessary to increase Southwest’s stock price. In October 2024, it was announced that Southwest would appoint five independent directors nominated by Elliott in addition to another board member, and that the former chief executive and then chairman would accelerate his retirement. Following the announcement of the personnel changes, Elliott withdrew its demand for a special shareholder meeting intended to replace 10 members of Southwest’s 15-person board. Elliott’s influence has continued to grow since then, with Southwest disclosing on 19 February 2025 that the company’s agreement with Elliott has been amended to increase the maximum aggregate economic exposure that Elliott may acquire, from 14.9% to 19.9%, but limit it from acquiring more than 12.49% of outstanding common stock until 1 April 2026. When Elliott disclosed its position in June 2024, the Southwest stock price was US$29.70, and as at 14 March 2025, it was US$31.73.

    Consistent with the sentiments of the Trump administration’s focus on rolling back diversity, equity and inclusion (DEI) programs, a group of Apple shareholders submitted on 25 February 2025 a proposal titled ‘Request to Cease DEI Efforts’. This was rejected at Apple’s shareholder meeting in February 2025, with 97.67% of the vote being against the proposal. The campaign against Apple is one of several anti-DEI proposals that have been levied against prominent companies, including Costco, where the proposal was defeated by 98% of votes, and farm equipment maker John Deere, where the proposal was defeated by 98.7%. These proposals have attracted significant attention, by harnessing viral social media campaigns advocating for customer boycotts, inundating company social media accounts with negative comments, and lobbing the threat of lawsuits alleging that DEI initiatives constitute a breach of fiduciary duty. Despite the spotlight (or perhaps because of it?), shareholders of the world’s most valuable listed company voted overwhelmingly not to abandon its DEI initiatives.

    Activist themes

    We see two broad themes that motivate activists at the moment. For the reasons set out in the next section, we think the global economic and geopolitical settings provide an opportunity to shape activist behaviours.

    First, there is the more traditional activist strategy where professional investors identify companies that they perceive could optimise their performance or enhance their governance structures, and then seek to exert influence to encourage the company to focus on increasing shareholder returns. They do this by pushing for one or a combination of:

    Second, there is the rising influence of public sentiment and political undercurrents playing out in the theatre of public markets, and the volatility that comes with it. Activist campaigns are increasingly becoming a proxy for broader societal dissatisfaction.

    In Australia, this dual-track activism—balancing financial imperatives with political and social influences—reinforces the heightened investor expectations for action and accountability for these issues at the board level.

    For instance, shareholder dissent on pay has markedly increased in Australia recently, seeing over 40 strikes among ASX 300 companies in 2023 and 2024, compared with 22–26 strikes recorded between 2018 and 2022.2 Among those receiving a strike was the Australian Securities Exchange itself, with 26.15% of votes against the adoption of the remuneration report. Commentators assessed that the vote was an expression of shareholder dissatisfaction with the $250 million write-down and anticipated cost of a further $300 million to replace the CHESS technology system. Although 13 companies in the ASX 300 received a second strike in 2024, not a single board spill proposal came close to succeeding, with none receiving more than 20% of votes in favour.3 This demonstrates that while strikes are increasing, this is not being accompanied by momentum to trigger broader change to leadership structures—it would appear that shareholders are looking to use their vote to send a shot across the bow as an appropriate warning, rather than achieve a fundamental governance reset.

    Shareholders and special interest groups have also used the proxy forum to express dissatisfaction regarding climate action, reflecting broader societal concerns around environmental sustainability and climate change. Last year, Market Forces led an activist campaign against Woodside Energy, advocating for an overhaul to its climate transition action plan and encouraging other shareholders to push for further board renewal at the 2025 AGM. At the AGM in April 2024, 58.4% of proxies cast were against the transition strategy, following three hours of questions. Earlier this month, another activist shareholder group, the Australasian Centre for Corporate Responsibility, advised investors to vote against the re-election of all three directors standing at the 2025 AGM and continues to integrate climate concerns into its analysis of shareholder returns.

    There is a similar experience in the UK, where Shell shareholders are still asked to vote on resolutions brought by activists to align the company’s medium-term emissions reduction targets with the 2015 Paris Climate Agreement and to factor ‘Scope 3’ emissions from fuels burnt by consumers into such calculations. Although the resolution received just 18.6% support from shareholders in 2024 (down 1.4% from 2023), the sustained pressure and media exposure may have contributed to the environmental, social and governance (ESG) proposals instead advanced by Shell’s board.

    For a more detailed analysis of the specific tactics that activists deploy pursuing these issues and how companies can prepare, see our earlier Insight.

    Our expectations for the road ahead

    Economic and geopolitical disruption to fuel activity

    The global economy is currently experiencing disruption. The focal point is, of course, the US, where the combination of (promised) tax cuts and deregulation will free up capital for investors to pursue short-term opportunities. As the Australian Prudential Regulation Authority Chair, John Lonsdale, remarked in his recent address at the Australian Financial Review Banking Summit, ‘what happens in the world’s biggest economy has implications for the world, and therefore for Australia’. We thus expect the positive conditions for activists will spill across borders, and perhaps the momentum will too—the Australian Securities and Investments Commission recently outlined its first steps towards easing compliance obligations for directors.

    The hoped-for spike in M&A activity creates the opportunity for shareholder activism, so we anticipate elevated volumes of activity in the near term. At the same time, the imposition of tariffs and other protectionist policies—and the market volatility and trade war they may set off—will create winners and losers, with companies that struggle in the turbulence becoming targets for activists.

    A reckoning on ESG and DEI initiatives

    There has been mounting pushback on ESG and, more recently, DEI policies of corporations, with activists querying their necessity and appropriateness. Critics, who may not be shareholders, will be even more emboldened by the priorities and tone of the Trump administration.

    We expect that activists will continue to seek out opportunities to make high-profile examples of some companies. However, while proponents of these initiatives have attracted significant attention, we haven’t yet seen this noise translate into strong shareholder support for campaigns, as the recent experience with Apple demonstrates.

    The anti-anti-ESG and DEI cause

    While some activists are seeking to challenge ESG and DEI initiatives as a corporate priority, we anticipate others that may already be frustrated with perceived slow progress on sustainability, diversity and broader governance issues will look to double down and push for companies to stay the course.

    This sentiment will be particularly emboldened if governments consider rolling back regulations or shifting priorities. If it is perceived that lawmakers and regulators aren’t creating the framework to manage these issues, then we expect activists to take matters into their own hands by using shareholder meetings as forums or otherwise turning to the courts.

    Scrutiny of board composition and director accountability

    We are seeing investors pay closer attention to the fitness for office of individual board members, by using their vote to signal dissatisfaction and impose accountability for governance missteps when directors stand for election or re-election. This can be in relation to a company that has experienced an issue, or could follow individual directors to unrelated companies.

    Expect to see closer scrutiny of board composition and more protest votes against director elections. Even if candidates still easily obtain the ordinary majority needed to carry the resolution, this is a far cry from the near 100% backing candidates would typically receive, and, particularly for larger companies, shows at least some institutional investors (whose holding may have previously been seen as more passive) are sending a message.

    Leveraging technology and AI in activist strategies

    Artificial intelligence (AI) has transformed a number of different fields, and has a role to play in the shareholder activism space as well, by making campaigns data driven and, as a consequence, more cost effective.

    AI can be deployed by activists to monitor and analyse tremendous amounts of data associated with corporate disclosures and financial performance, and to recognise the vulnerabilities and patterns in would-be candidates for a campaign. As these tools grow in sophistication, we expect to see activists be able to penetrate the market more deeply, and move with greater efficiency and precision in identifying opportunities.

    Activism has never been a simple strategy. We anticipate a continued evolution of the activist playbook in light of the above.

    MIL OSI News –

  • MIL-OSI Security: Pittsford father and son facing multiple fraud and ID theft charges in Rochester area credit card scam

    Source: Office of United States Attorneys

    ROCHESTER, NY—U.S. Attorney Michael DiGiacomo announced today that Talib Hussain, 74, and Mirza Khan, 46, both of Pittsford, NY, were charged by criminal complaint with bank fraud, wire fraud, conspiracy to commit bank and wire fraud and aggravated identity theft. The charges carry a maximum penalty of 30 years in prison and a $1,000,000 fine.

    Assistant U.S. Attorney Meghan K. McGuire, who is handling the case, stated that according to the complaint, since January 2015, JP Morgan Chase, Discover Financial Services, Pentagon Federal Credit Union, Bank of America, Barclay Bank, US Bank, Capital One and American Express have identified fraudulent credit card activity in the Rochester area. A high number of newly issued credit cards were charged to their maximum credit limit and almost all the cards had no valid payments applied to the accounts.

    The investigation determined that several of the credit cards were connected. The credit cards were applied for using an actual social security number but a fabricated name and date of birth to create a new, or “synthetic” identity, which was then used to acquire lines-of-credit used by the creator and/or his co-conspirators to make fraudulent purchases until the credit limit was reached. Some of them were used to pay property taxes to the City of Rochester and the Rochester Gas & Electric Corporation bills for properties in Rochester, including Lucky Beverage on Norton Street, Chili Express on Chili Avenue, and Easy (EZ) Food Market on Plymouth Avenue. A total of 32 different fraudulent credit cards were used to make periodic online property tax payments for the three properties between 2016 and 2022, totaling approximately $163,000. Further investigation determined that Lucky Beverage and Chili Express are owned by Mirza Khan, while Easy Food Market is owned by Khan’s father and co-defendant Talib Hussain.

    The complaint is the result of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Matthew Miraglia, Internal Revenue Service Criminal Investigation New York, under the direction of Harry Chavis, Acting Executive Special Agent in Charge, the U.S. Postal Inspection Service Boston Division, under the direction of Inspector in Charge Ketty Larco-Ward, and the Social Security Administration Office of Inspector General, under the direction of Acting Special Agent-in-Charge Amy Connelly.

    The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty.

    # # # # 

    MIL Security OSI –

  • MIL-OSI: Prospera Energy Inc. Announces Service Rig Update, Closing of Acquisition, Warrant Amendments, Stock Option Grant, and Shares-for-Debt Settlement

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 25, 2025 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) (“Prospera“, “PEI” or the “Corporation“)

    Service Rig Update
    Prospera Energy completed a total of thirty-two workovers and reactivations in Q1 2025 before releasing service rigs for spring break-up on March 20th. This included sixteen service rig jobs in Hearts Hill, eleven jobs in Luseland which consisted primarily of high-impact reactivations, and five jobs in Cuthbert. The Corporation will release further information in the March operations update scheduled for release later this month.

    Acquisition Closing
    Prospera Energy announces it has successfully closed the 10% working interest in each of the Hearts Hill, Luseland, and Cuthbert properties from an arm’s length joint venture partner. The total purchase price for this transaction was $1,792,646, consisting of $400,000 in cash to be paid over 16 months, $200,000 in equity through the issuance of 3,076,923 PEI common shares at a price of $0.065 per share, subject to a six-month hold period, and forgiveness of all outstanding debts totaling $1,192,646 owed by the joint venture partner. Furthermore, 3,076,923 warrants were issued, allowing the holder to acquire one PEI common share at a price of $0.10 in the first year and $0.15 in the second year.

    Warrant Amendments Update
    Further to its January 9th, 2025, announcement, Prospera provides an update on the amended terms of outstanding warrants:

    • The expiry date for all 15,330,000 warrants has been extended by one year, now expiring on February 14th, 2026.
    • 13,363,000 of the 15,330,000 warrants have been repriced to $0.06, while 1,967,000 remain priced at $0.09.
    • An accelerated expiry clause has been introduced, whereby the exercise period of the warrants will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the warrant the closing price of the listed shares exceeds $0.075.

    Stock Option Grant
    Prospera has granted a total of 2,000,000 options at $0.05 pursuant to its incentive stock option plan to management. Each option allows the holder to acquire one common share of the Corporation at an exercise price of $0.05 per share. The options are exercisable for a period of three years, in accordance with the terms of the plan.

    Shares for Debt
    The Corporation has settled $72,765.48 in outstanding interest expense owed to debenture holders through the issuance of 1,455,309 common shares at a price of $0.05 per share.

    About Prospera
    Prospera Energy Inc. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to optimizing recovery from legacy fields using environmentally safe and efficient reservoir development methods and production practices. The company’s core properties are strategically located in Saskatchewan and Alberta, including Cuthbert, Luseland, Hearts Hill, and Brooks. Prospera Energy Inc. is listed on the TSX Venture Exchange under the symbol PEI and the U.S. OTC Market under GXRFF.

    Prospera reports gross production at the first point of sale, excluding gas used in operations and volumes from partners in arrears, even if cash proceeds are received. Gross production represents Prospera’s working interest before royalties, while net production reflects its working interest after royalty deductions. These definitions align with ASC 51-324 to ensure consistency and transparency in reporting.

    For Further Information:

    Shawn Mehler, PR
    Email: investors@prosperaenergy.com

    Chris Ludtke, CFO
    Email: cludtke@prosperaenergy.com

    Shubham Garg, Chairman of the Board
    Email: sgarg@prosperaenergy.com

    FORWARD-LOOKING STATEMENTS
    This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “anticipate,” “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

    Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

    The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Prospera. As a result, Prospera cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward- looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Prospera does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

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

    The MIL Network –

  • MIL-OSI United Kingdom: Gaston welcomes DUP statement on Grand Central Station Irish signage

    Source: Traditional Unionist Voice – Northern Ireland

    Statement by TUV MLA Timothy Gaston:

    “I welcome tonight’s statement by Deborah Erskine which makes important points about the decision to introduce Irish signage at Grand Central station.

    “Given that Ms Erskine has correctly identified the announcement as “undoubtedly controversial” I now expect the attempt to impose the signage to be called in and put to a cross community vote at the Executive. Whether that happens via the petition which I tabled this morning or Unionist Ministers triggering it at the Exective is frankly immaterial. What matters is that it is stopped. Having exposed the issue I trust that – one way or the other – a loyalist part of Belfast, which has already been treated abominably by the whole saga around the station, will not suffer the added indignity of Grand Central being branded with Irish language signage.”

    MIL OSI United Kingdom –

  • MIL-OSI: $HAREHOLDER ALERT: The M&A Class Action Firm Urges Stockholders of AMPS, ML, AMPY, HEES to Act Now

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 25, 2025 (GLOBE NEWSWIRE) —

    Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

    • Altus Power, Inc. (NYSE: AMPS), relating to the proposed merger with TPG. Under the terms of the agreement, Altus Power will be acquired by TPG for $5.00 per share of its Class A common stock in an all-cash transaction.

    ACT NOW. The Shareholder Vote is scheduled for April 9, 2025.

    Click here for more https://monteverdelaw.com/case/altus-power-inc-amps/. It is free and there is no cost or obligation to you.

    • MoneyLion Inc. (NYSE: ML), relating to the proposed merger with Gen Digital Inc. Under the terms of the agreement, shareholders of MoneyLion will receive $82.00 per share in cash, and one contingent value right per share entitling the shareholder to a contingent payment of Gen Digital common stock.

    ACT NOW. The Shareholder Vote is scheduled for April 10, 2025.

    Click here for more https://monteverdelaw.com/case/moneylion-inc-ml/. It is free and there is no cost or obligation to you.

    • Amplify Energy Corp. (NYSE: AMPY), relating to the proposed merger with Juniper Capital. Under the terms of the agreement, Amplify shareholders will retain approximately 61% of Amplify’s outstanding equity.

    ACT NOW. The Shareholder Vote is scheduled for April 14, 2025.

    Click here for more https://monteverdelaw.com/case/amplify-energy-corp-ampy/. It is free and there is no cost or obligation to you.

    • H&E Equipment Services, Inc. (NASDAQ: HEES), relating to the proposed merger with Herc Holdings Inc. Under the terms of the agreement, H&E shareholders will receive $78.75 in cash and 0.1287 shares of Herc common stock for each share they own. H&E’s shareholders will own approximately 14.1% of the combined company.

    ACT NOW. The Tender Offer expires on April 15, 2025.

    Click here for more https://monteverdelaw.com/case/he-equipment-services-inc-hees/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2025 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network –

  • MIL-OSI: Petrus Resources Announces Fourth Quarter and Year-End 2024 Financial, Operating & Reserves Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 25, 2025 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and twelve months ended December 31, 2024 and to provide 2024 year end reserves information as evaluated by Insite Petroleum Consultants Ltd. (“Insite”). The Company’s Management’s Discussion and Analysis (“MD&A”) and audited consolidated financial statements are available on SEDAR+ (the System for Electronic Document Analysis and Retrieval) at www.sedarplus.ca.

    Q4 2024 HIGHLIGHTS:

    • Dividends – Throughout the fourth quarter Petrus paid a dividend of $0.01 per share per month, totaling $3.7 million. Including the dividend declared on March 3, 2025 payable on March 31, 2025, Petrus will have cumulatively paid $0.18 per share, or $22.4 million in dividends since the company began paying dividends in Q4 2023. Based on the average closing share price at March 24, 2025 of $1.36 per share, the current dividend yield is approximately 9% annually.
    • Production – Production for the fourth quarter of 2024 averaged 9,066 boe/d(1), which was relatively flat compared to 9,215 boe/d in the third quarter of 2024, as natural declines were largely offset by new wells that were brought on production in December 2024.
    • Natural Gas Liquids (NGL) production – NGL production increased to 1,810 bbl/d in the fourth quarter of 2024, up 24% compared to 1,465 bbl/d in the third quarter of 2024. Strategic efforts to improve NGL recoveries resulted in the NGL yield increasing by 25%, from 40 bbl/mmcf of gas in Q4 2023 to 50 bbl/mmcf of gas in Q4 2024.
    • Commodity prices – Total realized price was $26.45/boe in the fourth quarter of 2024, up 10% from $24.07/boe in the third quarter of 2024. Increases were seen across all commodities, with the most notable change in realized natural gas pricing, which was up 101% compared to the prior quarter.
    • Funds flow(2)– Petrus generated funds flow of $12.5 million in the fourth quarter of 2024 compared to $10.7 million in the third quarter of 2024. The 17% increase is due to the higher natural gas prices combined with higher NGL production volumes.
    • Net debt(2)– Net debt was $60.1 million at the end of Q4 2024, which was down $0.3 million compared to the end of the prior quarter.

    2024 ANNUAL HIGHLIGHTS:

    • Commodity prices – Total realized price was $27.24/boe in 2024, a decrease of 18% from $33.31/boe in 2023. Realized natural gas prices declined by 47% from $3.01/mcf in 2023 to $1.60/mcf in 2024.
    • Capital expenditures – Total capital expenditures were $31.8 million in 2024, down from $86.8 million in 2023 as the Company reduced its capital expenditures program in response to lower natural gas prices.
    • Natural Gas Liquids (NGL) production – NGL production was higher by 3% in 2024, increasing to 1,623 bbl/d compared to 1,575 bbl/d in 2023.
    • Production – Production for 2024 averaged 9,382 boe/d(1), as compared to 10,301 boe/d in 2023. The 9% decrease was primarily due to natural declines and a reduced capital program.
    • Funds flow(2)– Petrus generated funds flow of $50.1 million in 2024 compared to $78.0 million in 2023. The 36% decrease was due to a combination of lower natural gas prices and reduced production.
    • Net debt(2)– Petrus reduced net debt by $2.5 million from $62.6 million at year end 2023 to $60.1 million at year end 2024.

    2025 OUTLOOK(3)

    In 2025, Petrus will continue to execute its strategy of disciplined capital investment, focusing on projects that sustain production, increase liquids weighting, enhance capital efficiency, and drive free funds flow. On February 12, 2025, we announced our 2025 capital budget and guidance, available under the ‘News & Events’ section of our website.

    The 2025 capital program began early in the year with a return to drilling in Ferrier. Completion operations were carried out in February and new wells were brought on before the end of the first quarter of 2025. Additionally, construction of the 12-kilometer expansion of the North Ferrier pipeline was completed in March. This infrastructure investment will further improve access to undeveloped lands and allow the Company to transport both its own and third-party natural gas to the Petrus’ operated Ferrier gas plant, providing cost-effective processing and the opportunity to generate additional revenue through third-party fees.

    For the balance of 2025, the Company has hedged approximately 53% of forecasted production at an average of $2.67/GJ for natural gas and CAD$94.81/bbl for oil. The Company is well-positioned to carry out its 2025 capital program and achieve guidance targets. As always, Petrus will closely monitor market conditions and is prepared to adjust its capital program as needed, guided by its commitment to delivering sustainable returns to shareholders.

    FOURTH QUARTER AND YEAR-END 2024 CONFERENCE CALL

    Date: March 26, 2025
    Time: 9:00 am (mountain time)
    Please refer to the events page on Petrus’ website for conference call details and links: www.petrusresources.com/events

    ANNUAL GENERAL MEETING

    The Company’s Annual General Meeting will be held on Wednesday May 21, 2025 at 1:30 pm (mountain time).
    Please refer to the events page on Petrus’ website for location details: www.petrusresources.com/events

    For further information, please contact:

    Ken Gray, P.Eng.
    President and Chief Executive Officer
    T: (403) 930-0889
    E: kgray@petrusresources.com

    (1)Disclosure of production on a per boe basis consists of the constituent product types and their respective quantities. Refer to “BOE Presentation” and “Production & Product Type Information” for further details.
    (2)Non-GAAP financial measure or non-GAAP ratio. Refer to “Non-GAAP and Other Financial Measures”.
    (3)Refer to “Advisories – Forward-Looking Statements”.

    SELECTED FINANCIAL INFORMATION

    OPERATIONS Twelve months
    ended     

    Dec. 31, 2024

    		 Twelve months
    ended

    Dec. 31, 2023

    		 Three months
    ended

    Dec. 31, 2024

    		 Three months
    ended

    Sept. 30, 2024

    		 Three months
    ended

    Jun. 30, 2024

    		 Three months
    ended

    Mar. 31, 2024
    Average Production            
    Natural gas (mcf/d) 38,149   42,779   36,178   37,368   38,908   40,174  
    Oil and condensate(1) (bbl/d) 1,400   1,595   1,226   1,522   1,322   1,529  
    NGLs (bbl/d) 1,623   1,575   1,810   1,465   1,664   1,557  
    Total (boe/d) 9,382   10,301   9,066   9,215   9,471   9,783  
    Total (boe)(1) 3,433,994   3,760,004   834,111   847,760   861,838   890,267  
    Liquids weighting 32 % 31 % 33 % 32 % 32 % 32 %
    Realized Prices            
    Natural gas ($/mcf) 1.60   3.01   1.61   0.80   1.41   2.54  
    Oil and condensate(1) ($/bbl) 94.35   95.61   93.60   90.80   103.77   90.38  
    NGLs ($/bbl) 38.44   39.31   36.90   36.81   37.25   43.09  
    Total realized price ($/boe) 27.24   33.31   26.45   24.07   26.81   31.42  
    Royalty income 0.05   0.09   0.03   0.05   0.05   0.07  
    Royalty expense (3.66 ) (4.59 ) (3.85 ) (3.06 ) (3.83 ) (3.89 )
    Gain (loss) on risk management activities —   0.40   —   —   —   —  
    Net oil and natural gas revenue ($/boe) 23.63   29.21   22.63   21.06   23.03   27.60  
    Operating expense (5.93 ) (6.25 ) (5.89 ) (6.10 ) (4.96 ) (6.76 )
    Transportation expense (1.55 ) (1.63 ) (1.44 ) (1.46 ) (1.46 ) (1.81 )
    Operating netback(2)($/boe) 16.15   21.33   15.30   13.50   16.61   19.03  
    Realized gain (loss) on financial derivatives 2.02   2.14   3.04   2.49   (0.36 ) 2.90  
    Other cash income (expense) 0.34   0.02   1.19   0.09   0.05   0.05  
    General & administrative expense (1.54 ) (1.11 ) (2.10 ) (1.43 ) (1.34 ) (1.32 )
    Cash finance expense (1.87 ) (1.28 ) (1.83 ) (1.95 ) (1.91 ) (1.78 )
    Decommissioning expenditures (0.52 ) (0.37 ) (0.61 ) (0.12 ) (0.72 ) (0.61 )
    Funds flow & corporate netback(2)($/boe) 14.58   20.73   14.99   12.58   12.33   18.27  
                 
    FINANCIAL (000s except $ per share) Twelve months
    ended

    Dec. 31, 2024

    		 Twelve months
    ended

    Dec. 31, 2023

    		 Three months
    ended

    Dec. 31, 2024

    		 Three months
    ended

    Sept. 30, 2024

    		 Three months
    ended

    Jun. 30, 2024

    		 Three months
    ended

    Mar. 31, 2024
    Oil and natural gas sales 93,721   125,605   22,085   20,446   23,150   28,039  
    Net income (loss) (1,246 ) 50,731   (4,004 ) 5,302   2,789   (5,333 )
    Net income (loss) per share            
    Basic (0.01 ) 0.41   (0.03 ) 0.04   0.02   (0.04 )
    Fully diluted (0.01 ) 0.40   (0.03 ) 0.04   0.02   (0.04 )
    Funds flow(2) 50,058   78,024   12,493   10,665   10,628   16,272  
    Funds flow per share(2)            
    Basic 0.40   0.63   0.10   0.09   0.09   0.13  
    Fully diluted 0.40   0.62   0.10   0.08   0.08   0.13  
    Capital expenditures 31,814   86,843   7,705   4,859   6,907   12,343  
    Weighted average shares outstanding            
    Basic 124,389   123,469   124,497   124,372   124,290   124,299  
    Fully diluted 124,389   126,436   124,497   126,686   126,559   124,299  
    As at period end            
    Common shares outstanding            
    Basic 125,113   124,266   125,113   124,372   124,372   124,259  
    Fully diluted 134,919   134,542   134,919   134,952   134,919   134,484  
    Total assets 420,124   437,842   420,124   421,196   419,584   427,574  
    Non-current liabilities 65,475   60,926   65,475   62,869   59,511   59,995  
    Net debt(2) 60,080   62,596   60,080   60,423   61,848   63,114  

    (1)   Disclosure of production on a per boe basis consists of the constituent product types and their respective quantities. Refer to “BOE Presentation” and “Production & Product Type Information” for further details.
    (2)   Non-GAAP financial measure or non-GAAP ratio. Refer to “Non-GAAP and Other Financial Measures”.


    OPERATIONS UPDATE

    Fourth quarter average production by area was as follows:

    For the three months ended December 31, 2024 Ferrier & North
    Ferrier    		 Foothills Central Alberta Total
    Natural gas (mcf/d) 31,052 539 4,587 36,178
    Oil and condensate (bbl/d) 928 54 244 1,226
    NGLs (bbl/d) 1,665 7 138 1,810
    Total (boe/d)(1) 7,768 151 1,147 9,066

    (1)   Disclosure of production on a per boe basis consists of the constituent product types and their respective quantities. Refer to “BOE Presentation” and “Production & Product Type Information” for further details.

    Production for the fourth quarter of 2024 averaged 9,066 boe/d, as compared to 9,474 boe/d in the fourth quarter of 2023. The 4% decrease was primarily due to natural declines and strategic shut-ins due to low natural gas prices and was partially offset by new wells that commenced production in December 2024.

    RESERVES

    Petrus’ 2024 year end reserves were evaluated by its independent reserves evaluator, Insite, in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook (“COGE Handbook”) and National instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101”) as of December 31, 2024 (“2024 Insite Report”). Additional reserve information as required under NI 51-101 will be included in our Annual Information Form for the year ended December 31, 2024, which will be available under the Company’s profile on SEDAR (the System for Electronic Document Analysis and Retrieval) at www.sedarplus.com.

    Petrus has a reserves committee, comprised of a majority of independent board members, that reviews the qualifications and appointment of the independent reserves evaluator. The committee also reviews the procedures for providing information to the evaluators. All booked reserves are based upon annual evaluations by the independent qualified reserve evaluator conducted in accordance with the COGE Handbook and NI 51-101. The evaluations are conducted using all available geological and engineering data. The reserves committee has reviewed the reserves information and approved the 2024 Insite Report.

    The following table provides a summary of the Company’s before tax reserves as evaluated by Insite:

    As at December 31, 2024 Total Company Interest (1)(3)
    Reserve Category Conventional
    Natural Gas
    (mmcf)    		 Light and
    Medium
    Crude Oil
    (mbbl)    		 NGL
    (mbbl)    		 Total
    (mboe)    		 NPV 0%(2)
    ($000s)    		 NPV 5%(2)
    ($000s)    		 NPV 10%(2)
    ($000s)
    Proved Developed Producing 72,283 764 4,661 17,472 300,947 242,886 206,936
    Proved Developed Non-Producing 1,434 19 67 325 3,397 2,821 2,335
    Proved Undeveloped 120,479 3,060 7,235 30,375 425,388 255,976 155,680
    Total Proved 194,196 3,843 11,963 48,172 729,733 501,683 362,616
    Proved + Probable Producing 86,694 913 5,598 20,960 382,364 291,613 238,115
    Total Probable 96,481 3,434 5,405 24,919 499,146 294,964 192,562
    Total Proved Plus Probable 290,677 7,277 17,368 73,091 1,228,879 796,647 555,178

    (1)Tables may not add due to rounding.
    (2)NPV 0%, NPV 5% and NPV 10% refer to the risked net present value of the future net revenue of the Company’s reserves, discounted by 0%, 5% and 10%, respectively
    and is presented before tax and based on Insite’s pricing assumptions.
    (3)Total company interest reserve volumes presented therein are presented as the Company’s total working interest before the deduction of royalties (but after including any royalty interests of Petrus).

    The Company produced 3.4 mmboe during 2024 and ended the year with 17.5 mmboe of Proved Developed Producing (“PDP”) reserves (31% oil and liquids).

    Petrus ended 2024 with $206.9 million, $362.6 million and $555.2 million of PDP, Total Proved (“TP”), and Total Proved plus Probable (“P+P”) reserve value before-tax, respectively, discounted at 10%, based on the 2024 Insite Report. In 2024, the Company realized Finding and Development (“F&D”)(1)(2) costs of $12.58/boe for PDP reserves.

    Based on the 2024 Insite Report, the Company’s PDP reserve value before-tax, discounted at 10% is $1.32 per share (134,918,886 fully-diluted common shares outstanding at December 31, 2024). On the same basis, the Company’s P+P reserve value before-tax, discouted at 10%, is $3.90 per share.  

    (1)Refer to “Oil and Gas Disclosures”
    (2)While F&D costs are commonly used in the oil and nature gas industry and have been prepared by management, these terms do not have a standardized meaning and may not be comparable to similar measures presented by other companies and, therefore, should not be used to make such comparisons.


    FUTURE DEVELOPMENT COST

    Future Development Cost (“FDC”) reflects Insite’s best estimate of what it will cost to bring the P+P undeveloped reserves on production. The following table provides a summary of the Company’s FDC as set forth in the 2024 Insite Report:

    Future Development Cost ($000s) Total Proved Total Proved + Probable
    2025 44,349 44,349
    2026 138,485 138,485
    2027 151,518 164,611
    2028 83,030 147,282
    Thereafter — 130,453
    Total FDC, Undiscounted 417,381 625,179
    Total FDC, Discounted at 10% 345,611 489,942


    PERFORMANCE RATIOS
    The following table highlights annual performance ratios for the Company from 2020 to 2024(2):

      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022    		 December 31,
    2021    		 December 31,
    2020
    Proved Producing          
    FD&A ($/boe) (1) 12.58 19.67 12.58 15.64 4.83  
    F&D ($/boe) (1) 12.58 19.67 12.70 8.90 4.83  
    Reserve Life Index (yr) (1) 5.24 5.27 5.31 5.41 5.20  
    Reserve Replacement Ratio (1) 0.74 1.15 3.20 0.78 1.20  
    FD&A Recycle Ratio (1) 1.28 1.06 2.91 1.58 2.60  
    Proved Developed          
    FD&A ($/boe) (1) 12.63 19.34 12.50 14.54 4.71  
    F&D ($/boe) (1) 12.63 19.34 12.61 8.53 4.71  
    Reserve Life Index (yr) (1) 5.33 5.36 5.39 5.50 5.20  
    Reserve Replacement Ratio (1) 0.73 1.17 3.22 0.84 1.20  
    FD&A Recycle Ratio (1) 1.28 1.08 2.93 1.70 2.70  
    Total Proved          
    FD&A ($/boe) (1) 17.53 14.50 18.24 10.51 1.29  
    F&D ($/boe) (1) 17.53 14.50 33.99 9.24 1.29  
    Reserve Life Index (yr) (1) 14.4 13.85 12.18 15.30 10.90  
    Reserve Replacement Ratio (1) 0.97 2.98 3.79 4.50 (1.00 )
    FD&A Recycle Ratio (1) 0.92 1.44 2.01 2.35 9.80  
    Future Development Cost (undiscounted) ($000s) 417,381 391,058 313,786 233,684 156,815  
    Total Proved + Probable          
    FD&A ($/boe) (1) 33.63 14.00 15.66 10.57 0.37  
    F&D ($/boe) (1) 33.63 14.00 36.12 8.36 0.37  
    Reserve Life Index (yr) (1) 21.9 21.62 19.68 23.29 17.70  
    Reserve Replacement Ratio (1) 0.33 3.49 6.63 5.10 (1.30 )
    FD&A Recycle Ratio (1) 0.48 1.50 2.34 2.33 33.70  
    Future Development Cost (undiscounted) ($000s) 625,179 618,437 519,823 343,489 252,335  

    (1)Refer to “Oil and Gas Disclosures”
    (2)While FD&A cost and F&D costs, reserve life index, reserve replacement ratio and FD&A recycle ratio are commonly used in the oil and natural gas industry and have been prepared by management, these terms do not have a standardized meaning and may not be comparable to similar measures presented by other companies and, therefore, should not be used to make such comparisons.


    NET ASSET VALUE
    The following table shows the Company’s Net Asset Value (“NAV”), calculated using the 2024 Insite Report and Insite’s December 31, 2024 price forecast. The reader is cautioned that these amounts may not be directly comparable to other companies, as the term “Net Asset Value” does not have a standardized meaning under GAAP or NI 51-101. Management believes that net asset value provides a useful measure to analyze the comparative change in the Company’s estimated value on a normalized basis.

    As at December 31, 2024 ($000s except per share) Proved Developed
    Producing    		   Total Proved   Proved + Probable  
    Present Value Reserves, before tax (discounted at 10%) (1) 206,936   362,616   555,178  
    Undeveloped Land Value (2) 30,758   30,758   30,758  
    Net Debt (3) (60,080 ) (60,080 ) (60,080 )
    Net Asset Value 177,614   333,294   525,856  
    Fully Diluted Shares Outstanding 134,919   134,919   134,919  
    Estimated Net Asset Value per Fully Diluted Share $1.32   $2.47   $3.90  

    (1)Based on the 2024 Insite Report, using the forecast future prices and costs.
    (2)Based on the exploration and evaluation assets as per the Company’s December 31, 2024 audited consolidated financial statements.
    (3)Non-GAAP financial measure. See “Non-GAAP and Other Financial Measures”.


    NON-GAAP AND OTHER FINANCIAL MEASURES

    This press release makes reference to the terms “operating netback” (on an absolute and $/boe basis), “corporate netback” (on an absolute and $/boe basis), “funds flow” (on an absolute, per share (basic and fully diluted) and $/boe basis), and “net debt”. These non-GAAP and other financial measures are not recognized measures under GAAP (IFRS) and do not have a standardized meaning prescribed by GAAP (IFRS). Accordingly, the Company’s use of these terms may not be comparable to similarly defined measures presented by other companies. These non-GAAP and other financial measures should not be considered to be more meaningful than GAAP measures which are determined in accordance with IFRS as indicators of our performance. Management uses these non-GAAP and other financial measures for the reasons set forth below.

    Operating Netback
    Operating netback is a common non-GAAP financial measure used in the oil and natural gas industry which is a useful supplemental measure to evaluate the specific operating performance by product type at the oil and natural gas lease level. The most directly comparable GAAP measure to operating netback is oil and natural gas sales. Operating netback is calculated as oil and natural gas sales less royalty expenses, gain (loss) on risk management activities, operating expenses and transportation expenses. See below for a reconciliation of operating netback to oil and natural gas sales.

    Operating netback ($/boe) is a non-GAAP ratio used in the oil and natural gas industry which is a useful supplemental measure to evaluate the specific operating performance by product type at the oil and natural gas lease level. It is calculated as operating netbacks divided by weighted average daily production on a per boe basis. See below.

    Corporate Netback and Funds Flow
    Corporate netback or funds flow is a common non-GAAP financial measure used in the oil and natural gas industry which evaluates the Company’s profitability at the corporate level. Corporate netback and funds flow are used interchangeably. Petrus analyzes these measures on an absolute value and on a per unit (boe) and per share (basic and fully diluted) basis as non-GAAP ratios. Management believes that funds flow and corporate netback provide information to assist a reader in understanding the Company’s profitability relative to current commodity prices. They are calculated as the operating netback less general and administrative expense, cash finance expense and decommissioning expenditures, plus or minus other income (expense) and the realized gain (loss) on financial derivatives. See below for a reconciliation of funds flow and corporate netback to oil and natural gas sales.

    Corporate netback ($/boe) or funds flow ($/boe) is a non-GAAP ratio used in the oil and natural gas industry which evaluates the Company’s profitability at the corporate level. Management believes that funds flow ($/boe) or corporate netback ($/boe) provide information to assist a reader in understanding the Company’s profitability relative to current commodity prices. It is calculated as corporate netbacks or funds flow divided by weighted average daily production on a per boe basis. See below.

    Funds flow per share (basic and fully diluted) is comprised of funds flow divided by basic or fully diluted weighted average common shares outstanding.

      Three months ended

    Dec. 31, 2024

    		 Three months ended

    Dec. 31, 2023

    		 Twelve months ended

    December 31, 2024

    		 Twelve months ended

    December 31, 2023
      $000s $/boe $000s $/boe $000s $/boe $000s $/boe
    Oil and natural gas sales 22,085   26.48   26,747   30.70   93,721   27.29   125,605   33.41  
    Royalty expense (3,212 ) (3.85 ) (4,167 ) (4.78 ) (12,572 ) (3.66 ) (17,255 ) (4.59 )
    Gain (loss) on risk management activities —   —   —   —   —   —   1,522   0.40  
    Net oil and natural gas revenue 18,873   22.63   22,580   25.92   81,149   23.63   109,872   29.22  
    Transportation expense (1,203 ) (1.44 ) (1,271 ) (1.46 ) (5,316 ) (1.55 ) (6,115 ) (1.63 )
    Operating expense (4,915 ) (5.89 ) (4,419 ) (5.07 ) (20,376 ) (5.93 ) (23,505 ) (6.25 )
    Operating netback 12,755   15.30   16,890   19.39   55,457   16.15   80,252   21.34  
    Realized gain (loss) on financial derivatives 2,539   3.04   1,737   1.99   6,930   2.02   8,051   2.14  
    Other income(1) 991   1.19   (161 ) (0.18 ) 1,156   0.34   79   0.02  
    General & administrative expense (1,752 ) (2.10 ) (319 ) (0.37 ) (5,291 ) (1.54 ) (4,183 ) (1.11 )
    Cash finance expense (1,530 ) (1.83 ) (1,246 ) (1.43 ) (6,418 ) (1.87 ) (4,801 ) (1.28 )
    Decommissioning expenditures (510 ) (0.61 ) (376 ) (0.43 ) (1,776 ) (0.52 ) (1,374 ) (0.37 )
    Funds flow and corporate netback 12,493   14.99   16,525   18.97   50,058   14.58   78,024   20.74  
      Three months ended

    Dec. 31, 2024

    		 Three months ended

    Sept. 30, 2024

    		 Three months ended

    Jun. 30, 2024

    		 Three months ended

    March 31, 2024
      $000s $/boe $000s $/boe $000s $/boe $000s $/boe
    Oil and natural gas sales 22,085   26.48   20,446   24.12   23,150   26.86   28,039   31.50  
    Royalty expense (3,212 ) (3.85 ) (2,593 ) (3.06 ) (3,305 ) (3.83 ) (3,461 ) (3.89 )
    Net oil and natural gas revenue 18,873   22.63   17,853   21.06   19,845   23.03   24,578   27.61  
    Transportation expense (1,203 ) (1.44 ) (1,239 ) (1.46 ) (1,259 ) (1.46 ) (1,615 ) (1.81 )
    Operating expense (4,915 ) (5.89 ) (5,172 ) (6.10 ) (4,271 ) (4.96 ) (6,018 ) (6.76 )
    Operating netback 12,755   15.30   11,442   13.50   14,315   16.61   16,945   19.04  
    Realized gain (loss) on financial derivatives 2,539   3.04   2,115   2.49   (307 ) (0.36 ) 2,583   2.90  
    Other income (expense)(1) 991   1.19   77   0.09   40   0.05   48   0.05  
    General & administrative expense (1,752 ) (2.10 ) (1,209 ) (1.43 ) (1,152 ) (1.34 ) (1,178 ) (1.32 )
    Cash finance expense (1,530 ) (1.83 ) (1,657 ) (1.95 ) (1,650 ) (1.91 ) (1,581 ) (1.78 )
    Decommissioning expenditures (510 ) (0.61 ) (103 ) (0.12 ) (618 ) (0.72 ) (545 ) (0.61 )
    Funds flow and corporate netback 12,493   14.99   10,665   12.58   10,628   12.33   16,272   18.28  


    Net Debt
    Net debt is a non-GAAP financial measure and is calculated as the sum of long term debt and working capital (current assets and current liabilities), excluding the current financial derivative contracts and current portion of the lease obligation and decommissioning obligation. Petrus uses net debt as a key indicator of its leverage and strength of its balance sheet. Net debt is reconciled, in the table below, to long-term debt which is the most directly comparable GAAP measure.

    ($000s) As at Dec. 31, 2024 As at Dec. 31, 2023 As at Sep. 30, 2024 As at Jun. 30, 2024 As at March 31, 2024
    Long-term debt 25,000   25,000   25,000   25,000   25,000  
    Current assets (17,583 ) (30,805 ) (20,258 ) (16,333 ) (21,081 )
    Current liabilities 51,268   61,755   48,458   52,379   61,099  
    Current financial derivatives 2,632   8,374   7,690   1,276   (716 )
    Current portion of lease obligation (164 ) (258 ) (230 ) (237 ) (263 )
    Current portion of decommissioning obligation (1,073 ) (1,470 ) (237 ) (237 ) (925 )
    Net debt 60,080   62,596   60,423   61,848   63,114  


    ADVISORIES

    OIL AND GAS DISCLOSURES
    Our oil and gas reserves statement for the year ended December 31, 2024, which includes disclosure of our oil and natural gas reserves and other oil and natural gas information in accordance with NI 51-101, is contained in the Company’s Annual Information Form for the year ended December 31, 2024 (the “AIF”), which will be filed on SEDAR+ at www.sedarplus.ca. It should not be assumed that the present worth of estimated future amounts presented in the tables above represents the fair market value of the reserves. There is no assurance that the forecast prices and costs assumptions will be attained, and variances could be material. The recovery and reserve estimates contained herein are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual reserves may be greater than or less than the estimates provided herein.

    This release contains metrics commonly used in the oil and natural gas industry which have been prepared by management. These terms do not have a standardized meaning and may not be comparable to similar measures presented by other companies, and therefore should not be used to make such comparisons.

    Management uses oil and gas metrics for its own performance measurements and to provide shareholders with measures to compare Petrus’ operations over time. Readers are cautioned that the information provided by these metrics, or that can be derived from the metrics presented in this release, should not be relied upon for investment or other purposes.

    F&D Costs and FD&A Costs

    FD&A cost is defined as capital costs for the time period including change in FDC divided by change in reserves including revisions and production for that same time period. F&D cost is defined as capital costs for the time period including change in FDC divided by change in reserves including revisions and production for that same time period, excluding acquisitions and dispositions. Both F&D costs and FD&A costs take into account reserves revisions during the year on a per boe basis. The methodology used to calculate F&D costs includes disclosure required to bring the proved undeveloped and probable reserves to production. Annually, changes in forecast FDC occur as a result of Petrus’ development, acquisition and disposition activities, undeveloped reserve revision and capital cost estimates. These values reflect the independent evaluator’s best estimate of the cost to bring the proved and probable undeveloped reserves to production.

    Reserve Life Index

    Reserve life index is defined as total reserves by category divided by the annualized fourth quarter production.

    Reserve Replacement Ratio

    The reserve replacement ratio is calculated by dividing the yearly change in reserves net of production by the actual annual production for the year.

    FD&A Recycle Ratio

    The FD&A recycle ratio is calculated by dividing operating netback by FD&A costs.

    ADVISORIES

    Basis of Presentation

    Financial data presented above has largely been derived from the Company’s financial statements, prepared in accordance with GAAP which require publicly accountable enterprises to prepare their financial statements using IFRS. Accounting policies adopted by the Company are set out in the notes to the audited consolidated financial statements as at and for the twelve months ended December 31, 2024. The reporting and the measurement currency is the Canadian dollar. All financial information is expressed in Canadian dollars, unless otherwise stated.

    Forward-Looking Statements

    Certain information regarding Petrus set forth in this release contains forward-looking statements within the meaning of applicable securities law, that involve substantial known and unknown risks and uncertainties. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Such statements represent Petrus’ internal projections, estimates, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. These statements are only predictions and actual events or results may differ materially. Although Petrus believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause Petrus’ actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Petrus. In particular, forward-looking statements included in this release include, but are not limited to statements with respect to: that in 2025, Petrus will continue to execute its strategy of disciplined capital investment, focusing on projects that sustain production, increase liquids weighting, enhance capital efficiency, and drive free funds flow; that the Company is well-positioned to carry out its 2025 capital program and achieve guidance targets; that Petrus will closely monitor market conditions and is prepared to adjust its capital program as needed, guided by its commitment to delivering sustainable returns to shareholders; the estimated future development costs to bring our undeveloped reserves on production; that we have a unique ability to be dynamic and respond quickly to constantly evolving market conditions; that Petrus will continue paying an industry leading, high-yielding dividend to our shareholders while investing remaining cash flow in high return wells and strategic infrastructure projects; that during periods of low prices, we will maintain production and cash flow and ensure the Company is positioned to quickly pivot to a growth strategy when pricing is more constructive; that our strengths will continue to serve the Company and our shareholders well as we navigate the constant changes and challenges inherent in this business; that the Company utilizes financial derivative contracts and physical commodity contracts to mitigate commodity price risk and provide stability and sustainability to the Company’s economic returns, funds flow, dividend payments and capital development plans; that the Company’s risk management contracts provide protection from significant changes in crude oil and natural gas commodity prices out to 2026; that the Company endeavors to hedge approximately half of its forecasted production for up to 12 months forward, and approximately 25% of its forecasted production for 12 to 24 months forward; that the Company’s hedging strategy is intended to provide stability and sustainability to the Company’s economic returns, funds flow, dividend payments and capital development plans; that the Company does not intend to settle its DSUs for cash; and that the Company expects the working capital deficiency to diminish over the next 12 months as the RLF is paid down by cash flow from operations. In addition, statements relating to “reserves” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described can be profitably produced in the future.

    These forward-looking statements are subject to numerous risks and uncertainties, most of which are beyond the Company’s control, including: the risk that (i) negotiations between the U.S. and Canadian governments are not successful and one or both of such governments implements announced tariffs, increases the rate or scope of announced tariffs, or imposes new tariffs on the import of goods from one country to the other, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed by the U.S., Canada, China and other countries and responses thereto could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Company; the impact of general economic conditions; volatility in market prices for crude oil, NGL and natural gas; industry conditions; currency fluctuation; changes in interest rates and inflation rates; imprecision of reserve estimates; liabilities inherent in crude oil and natural gas operations; environmental risks; incorrect assessments of the value of acquisitions and exploration and development programs; competition; the lack of availability of qualified personnel or management; changes in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry; hazards such as fire, explosion, blowouts, cratering, and spills, each of which could result in substantial damage to wells, production facilities, other property and the environment or in personal injury and/or increase our costs, decrease our production, or otherwise impede our ability to operate our business; extreme weather events, such as wild fires, floods, drought and extreme cold or warm temperatures, each of which could result in substantial damage to our assets and/or increase our costs, decrease our production, or otherwise impede our ability to operate our business; stock market volatility; ability to access sufficient capital from internal and external sources; that the amount of dividends that we pay may be reduced or suspended entirely; that we reduce or suspend the repurchase of shares under our NCIB; and the other risks and uncertainties described in our AIF. With respect to forward-looking statements contained in this release, Petrus has made assumptions regarding: that the tariffs that have been publicly announced by the U.S. and Canadian governments (but which are not yet in effect) do not come into effect, but that if such tariffs do come into effect, the potential impact of such tariffs, and that other than the tariffs that have been announced, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas; the amount of dividends that we will pay; the number of shares that we will repurchase under our NCIB; future commodity prices and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future exchange rates; the impact of increasing competition; conditions in general economic and financial markets; availability of drilling and related equipment and services; effects of regulation by governmental agencies; the effects of inflation on our costs and profitability; future interest rates; and future operating costs. Management has included the above summary of assumptions and risks related to forward-looking information provided in this release in order to provide investors with a more complete perspective on Petrus’ future operations and such information may not be appropriate for other purposes. Petrus’ actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. Readers are cautioned that the foregoing lists of factors are not exhaustive.

    This release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about Petrus’ prospective results of operations including, without limitation, the percentage of our forecast production for the 2025 that is hedged, which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on FOFI. Petrus’ actual results, performance or achievement could differ materially from those expressed in, or implied by, these FOFI, or if any of them do so, what benefits Petrus will derive therefrom. Petrus has included the FOFI in order to provide readers with a more complete perspective on Petrus’ future operations and such information may not be appropriate for other purposes.

    These forward-looking statements and FOFI are made as of the date of this release and the Company disclaims any intent or obligation to update any forward-looking statements and FOFI, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

    BOE Presentation

    The oil and natural gas industry commonly expresses production volumes and reserves on a barrel of oil equivalent (“boe”) basis whereby natural gas volumes are converted at the ratio of six thousand cubic feet to one barrel of oil. The intention is to sum oil and natural gas measurement units into one basis for improved measurement of results and comparisons with other industry participants. Petrus uses the 6:1 boe measure which is the approximate energy equivalence of the two commodities at the burner tip. Boe’s do not represent an economic value equivalence at the wellhead and therefore may be a misleading measure if used in isolation.

    Production & Product Type Information

    References to crude oil (or oil), natural gas liquids (“NGLs”), natural gas and average daily production in this document refer to the light and medium crude oil, conventional natural gas, and NGLs product types, as applicable, as defined in National Instrument 51-101 (“NI 51-101”), except as noted below.

    NI 51-101 includes condensate within the NGLs product type. The Company has disclosed condensate as combined with crude oil and separately from other NGLs since the price of condensate as compared to other NGLs is currently significantly higher and the Company believes that this crude oil and condensate presentation provides a more accurate description of its operations and results therefrom. Crude oil therefore refers to light oil, medium oil, and condensate. NGLs refers to ethane, propane, butane and pentane combined. Natural gas refers to conventional natural gas.

    Abbreviations
    $000’s   thousand dollars
    $/bbl   dollars per barrel
    $/boe   dollars per barrel of oil equivalent
    $/GJ   dollars per gigajoule
    $/mcf   dollars per thousand cubic feet
    bbl   barrel
    mbbl   thousand barrels
    bbl/d   barrels per day
    boe   barrel of oil equivalent
    mboe   thousand barrel of oil equivalent
    mmboe   million barrel of oil equivalent
    boe/d   barrel of oil equivalent per day
    GJ   gigajoule
    GJ/d   gigajoules per day
    mcf   thousand cubic feet
    mcf/d   thousand cubic feet per day
    mmcf/d   million cubic feet per day
    NGLs   natural gas liquids
    WTI   West Texas Intermediate

    The MIL Network –

  • MIL-OSI: Saturn Oil & Gas Inc. Announces Participation in Virtual Investor Conference on March 27th

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, March 25, 2025 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) (“Saturn” or the “Company”), a light oil-weighted producer focused on unlocking value through the development of assets in Saskatchewan and Alberta, today announces that on March 27th, 2025, the Company will be participating in a live, online oil and gas investor conference hosted by VirtualInvestorConferences.com. Saturn invites individual and institutional investors, analysts and advisors to attend, with access details outlined below.

    PRESENTATION DETAILS

    The conference will include a presentation from members of Saturn’s leadership team, followed by a live, interactive Q&A with participants. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available subsequent to the event, with the replay link posted on Saturn’s website. Requests for 1×1 meetings with the Company can be made through the conference portal.

    • Date: Thursday, March 27, 2025
    • Time: 10:30 am MT (12:30 pm ET)
    • Event Link: Register Here

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates. More information about the event is available at this link.

    ABOUT SATURN OIL & GAS INC.

    Saturn is a returns-driven Canadian energy company focused on the efficient and innovative development of high-quality, light oil weighted assets, supported by an acquisition strategy targeting accretive and complementary opportunities. The Company’s portfolio of free-cash flowing, low-decline operated assets in Saskatchewan and Alberta provide a deep inventory of long-term economic drilling opportunities across multiple zones. With an unwavering commitment to building an entrepreneurial and ESG-focused culture, Saturn’s goal is to increase per share reserves, production and cash flow at an attractive return on invested capital. The Company’s shares are listed for trading on the TSX under ticker ‘SOIL’, and on the OTCQX under the ticker ‘OILSF’. Further information and our corporate presentation are available on Saturn’s website at www.saturnoil.com.

    INVESTOR & MEDIA CONTACTS

    John Jeffrey, MBA – Chief Executive Officer
    Tel: +1 (587) 392-7900
    www.saturnoil.com

    Cindy Gray, MBA – VP Investor Relations
    Tel: +1 (587) 392-7900
    info@saturnoil.com

    ABOUT VIRTUAL INVESTOR CONFERENCES®

    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors. Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    VIRTUAL INVESTOR CONFERENCES CONTACT DETAILS

    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    The MIL Network –

  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation Shri Amit Shah replies to the discussion on the Disaster Management (Amendment) Bill, 2024 in the Rajya Sabha, Upper house passes the bill

    Source: Government of India

    Union Home Minister and Minister of Cooperation Shri Amit Shah replies to the discussion on the Disaster Management (Amendment) Bill, 2024 in the Rajya Sabha, Upper house passes the bill

    Under Modi ji’s leadership, India became a global leader in disaster management

    Modi government is managing disasters by adopting a proactive approach instead of a reactive one and by aiming for zero casualties instead of minimising casualties

    Compared to the previous regime, Modi government has given more than three times the money to the states from the central fund

    In the previous regime, funds were given to the Rajiv Gandhi Foundation from PMNRF

    This bill will further increase the capacity, intensity, efficiency and accuracy in disaster response

    Earlier, thousands of people used to die in cyclones, but Modi government is moving towards zero casualty

    The aim of this bill is to increase transparency, accountability, efficiency and cooperation in disaster management

    India’s disaster management prowess has been established globally through CDRI

    To deal with the changing size and scale of disasters, we will have to change the methods, systems and make institutions accountable as well as give them powers

    India has had the most successful management of the COVID-19 pandemic in the entire world

    Earlier, it used to take two generations for getting vaccines, but under the Modi government, India has made the COVID vaccine and also delivered it to every citizen

    The Modi government has given more money than the prescribed amount to the states for disaster managementna

    Posted On: 25 MAR 2025 9:24PM by PIB Delhi

    Union Home Minister and Minister of Cooperation Shri Amit Shah today replied to the discussion in the Rajya Sabha on the Disaster Management (Amendment) Bill, 2024.  After the discussion, with the passage of the bill from the upper house the amendment bill was passed by the Parliament.

    Speaking in the upper house during the discussion, Union Home Minister and Minister of Cooperation said that through this amendment bill, the Narendra Modi government intends to connect Centre, State governments, Panchayat and all our citizens with the cause of disaster management and there is no question of centralization of power. He said that this disaster management amendment bill is an attempt to take the fight against disasters from a reactive approach to a proactive one and also beyond to an innovative and a participatory approach.

    Shri Amit Shah said that Prime Minister Shri Narendra Modi Ji presented a ten-point agenda to the world for disaster risk reduction which has been accepted by more than 40 countries of the world. He said that this bill envisages participation not only from state governments and local units but also from the society. He said that the amendment bill keeps scope of minute planning at local levels too along with the national level and gives clarity on the powers and duties of institutions involved. Shri Shah said that the fight against disasters cannot be accomplished without enabling the institutions and making them better and more accountable, and both of these things have been taken care of in the bill. He said that disasters are directly related to climate change and to mitigate them, we should take steps against global warming. He said that India has been moving in this direction for thousands of years and the Modi government is working to take this tradition forward.

    Union Home Minister and Minister of Cooperation said that the Disaster Management Act was brought for the first time in the year 2005 and under this NDMA (National Disaster Management Authority), SDMA (State Disaster Management Authority) and DDMA (District Disaster Management Authority) were formed. He said that in this bill, the biggest responsibility in the aftermath of disasters have been given to DDMAs which is under the state government, thus there is no question of any damage to our federal system. He said that for financial assistance, National Disaster Response Fund and National Disaster Mitigation Fund were created. Shri Amit Shah said that the Finance Commission has made a scientific arrangement for disaster relief and the Modi government has not given a single penny less than the prescribed amount to any state, rather it has given more.

    He said that due to global disasters like Covid-19, increasing urbanization, irregular rain-related disasters and climate change, both the size and scale of disasters have changed. Shri Shah said that to deal with the changing size and scale of disasters, we will have to change the methods and systems and also make the institutions accountable and give them powers. He said that with this objective, this bill has been brought for an effective and comprehensive solution to the disaster management problem. He said that suggestions have been incorporated from stakeholders, ministries and departments of the Central Government, all state governments, Union Territories, international organizations and national and international non-governmental organizations and this bill has been prepared comprehensively by accepting 89 percent of their suggestions.

    Union Home Minister said that through this bill, Modi government wants to move from reactive response to proactive risk reduction, from manual monitoring to AI-based real-time monitoring, from radio warnings to social media, apps and mobile warnings, and from government-led response to a multi-dimensional response involving society and citizens. He said that this entire bill has been made to incorporate capacity, intensity, efficiency and accuracy in disaster response. Shri Shah said that in the last 10 years, there has been a change in disaster management in our country due to which we have emerged as a regional and global power recognized by the world. He said that this bill is necessary to maintain this success story of India for a longer time in future.

    Shri Amit Shah said that this Bill will make both NDMA and SDMA effective, disaster database will be created at national and state level. It envisages creation of Urban Disaster Management Authority which will be completely under the state governments. Apart from this, this Bill will also give statutory power to NDMA and SDMA in creating a blueprint for 100% implementation of the recommendations of the 15th Finance Commission. He said that transparency, trust, credibility and accountability have been given place in it. Shri Shah also said that well-defined roles have been fixed in it and moral responsibilities have also been given place. The Home Minister said that we have also fixed responsibility for the best use of resources. He said that through this Bill, an attempt has been made to fight against disaster with synergy, between preparation, good management and coordination. Many reforms have been made on these four pillars and not a single one of these reforms is for centralization of power.

    Union Home Minister and Minister of Cooperation said that in the last ten years, on one hand, Prime Minister Modi Ji has done many things for environmental protection and on the other hand, he has also taken disaster management a long way forward. He said that on one hand Modi Ji talked about Mission Life in front of the world and on the other hand he also announced a ten-point disaster risk reduction agenda. He said that on one hand, a definite concrete program was given to become a pro-planet people and on the other hand, the Coalition for Disaster Resilience Infrastructure (CDRI) was presented to the world, which has 43 countries as members. Shri Shah said that Modi Ji started the International Solar Alliance and Global Biofuel Alliance and also formed a task force on Disaster Risk Reduction by hosting the G20 conference in India. He said that on both these fronts, Prime Minister Modi and the government led by him have worked in a meticulous manner with great foresight. The Home Minister said that on the one hand efforts should be made to prevent disasters by protecting the environment and on the other hand, in case of a disaster, Modi ji has made complete arrangements to fight the disaster in a scientific manner from villages to Delhi.

    Shri Amit Shah said that the devastating earthquake in Bhuj, Gujarat in 2001 shook not only Gujarat but the entire country and the world. He said that at that time Shri Narendra Modi was the Chief Minister of Gujarat and he had established the Climate Change Department for the first time in India. He said that at that time Modi ji created the Climate Change Fund in Gujarat and in 2003 brought the State Disaster Management Act in Gujarat. Shri Shah said that in 2013, the country’s first city level action plan for heat wave was made in Ahmedabad and Modi ji also worked on making a detailed plan for reconstruction, community preparedness and rehabilitation after the earthquake.

    Union Home Minister said that after Shri Narendra Modi became the Prime Minister in 2014, a holistic and integrated approach was introduced in the country instead of a relief-centric approach. He said that a proactive approach was adopted instead of a reactive one and disaster management was done by keeping the target of zero casualty instead of the usual target of minimum casualty of the previous regime. He said that today governments are not only focus on relief and rescue after a disaster but also make many preparations to tackle them. Shri Shah said that the Modi government has done a very good job in early warning system, prevention to the extent possible, mitigation, timely preparedness and disaster risk reduction. He said that when the Odisha Super Cyclone hit in 1999, 10 thousand people died, but when Cyclone Fani hit in 2019, only one person died, this was the result of our changed approach. He said that when Cyclone Biparjoy hit Gujarat in 2023, not a single person or animal died and we achieved the target of zero casualties in 2023. He said that there has been a 98 percent reduction in loss of life and property due to cyclones and we have also succeeded in reducing heat-related mortality significantly.

    Shri Amit Shah said that the budget of SDRF was Rs 38 thousand crores during the year 2004 to 2014, which was increased to Rs 1 lakh 24 thousand crores by the Modi government during 2014 to 2024. Rs 28 thousand crores were given to NDRF during 2004 to 2014, while Rs 80 thousand crores were given during 2014 to 2024. Shri Shah said that the government has increased the total amount from Rs 66 thousand crores to more than Rs 2 lakh crores. He said that the Modi government has given more than three times the money to the states from the central funds. Shri Shah said that apart from this, a National Disaster Response Reserve of 250 crores was created, the first National Disaster Management Plan was released in 2016 which is completely in line with the Sendai framework, the Subhash Chandra Bose Disaster Management Award was established in 2018-19 and the first phase of National Cyclone Risk Mitigation was done in Odisha and Andhra Pradesh in 2018. He said that in 2020-21, the Home Ministry decided that the Inter-Ministerial Consultative Team (IMCT) will first go and do an immediate review and the Modi government made a provision to provide immediate assistance by sending 97 IMCTs within 10 days in 5 years.

    Union Home Minister said that currently 16 battalions of NDRF are operational and seeing the NDRF personnel, people feel assured that they are safe now. He said that apart from this, programs have also been made for landslide risk management, glacial lake outburst flood (GLOF) and civil security and training capacity building.

    Union Home Minister and Minister of Cooperation said that the National Disaster Response Force (NDRF), in the spirit of Vasudhaiva Kutumbakam, conducted ‘Operation Maitri’ during the earthquake in Nepal in 2015, ‘Operation Samudra Maitri’ in Indonesia in 2018, ‘Operation Dost’ in Turkey and Syria in 2023, ‘Operation Karuna’ in Myanmar and ‘Operation Sadbhav’ in Vietnam, due to which the governments and people of these countries praised NDRF and Modi ji. He said that NDRF has worked to get our disaster management system firmed up at a national level.

    Shri Amit Shah said that the Government of India has signed agreements with Japan, Tajikistan, Mongolia, Bangladesh, Italy, Turkmenistan, Maldives and Uzbekistan to strengthen disaster management and disaster risk reduction. The geographical conditions of these countries make them prone to similar disasters which are possible in India. He said that we have tried to ensure that these countries benefit from our best practices and we benefit from their best practices. Apart from the MoUs, international seminars were also held in the years 2015, 2016, 2019, 2020, 2023, in which disaster management experts from member countries of organizations like SAARC, BRICS, SCO also participated.

    Union Home Minister said that the Coalition for Disaster Resilient Infrastructure (CDRI) is an example of India’s global leadership in the field of disaster management. Prime Minister Shri Narendra Modi put forward this idea in the UN Climate Summit held in New York on 23 September 2019 and it was established in India itself. He said that so far 42 countries and 7 international organizations have become members of CDRI and through CDRI, work has been done to establish India’s leadership in this field at the global level.

    Shri Amit Shah said that through the ‘Aapada Mitra’ scheme, a force of one lakh community volunteers has been created in 350 disaster prone districts at a cost of Rs 370 crore and the volunteers have been registered on the India Disaster Resource Network portal. The District Collectors have their complete details. When a disaster strikes, these volunteers reach for the help on their own. The Home Minister said that 20 percent of the one lakh ‘Aapada Mitra’ volunteers are women. Our women power is working shoulder to shoulder in the work of disaster management. He said that as a result of the ‘Aapada Mitra’ scheme, 78 thousand people were rescued from disasters and taken to safe places and 129 lives were saved by providing them timely treatment at the hospitals.

    Union Home Minister said that the ‘Aapada Mitra’ scheme is being expanded. To involve the youth, more than 1300 trained ‘Aapada Mitras’ have been employed as master trainers with a budget of Rs 470 crore. In this, NCC, NSS, Nehru Yuva Kendra Sangathan and Bharat Scouts and Guides will train two lakh 37 thousand ‘Aapada Mitras’, which will increase the total number of community volunteers to three lakh 37 thousand.

    Shri Amit Shah said that we have created many apps for weather related information. These include ‘Mausam’, ‘Meghdoot’, ‘Flood Watch’, ‘Damini’, ‘Pocket Bhuvan’, ‘Sachet’, ‘Van Agni’ and ‘Samudra’. Also, a nodal agency has been created for the study of landslides. India Quake app has been created for automated broadcasting of earthquake parameters. He said that due to the efforts of Modi ji, today all these apps have reached almost every citizen of the country. This has benefited farmers, fishermen, people living on the seashore and people living in landslide prone areas on time.

    Union Home Minister said that the entire world has accepted that Prime Minister Narendra Modi is leading the world in the field of environment, therefore the United Nations has honoured him with the award of Champions of the Earth. Modi ji has almost completed the task of making India free from single-use plastic. Many countries have joined the International Solar Alliance (ISA) formed on his initiative. Modi ji has worked to popularise the ‘One Sun, One Earth, One Grid’ project worldwide. The construction of Inter-Regional Energy Grid has begun for sharing solar energy across the world. Crores of people have planted trees with devotion in reverence of Mother Earth and their own mothers through the ‘Ek Ped Maa Ke Naam’ campaign.

    Shri Amit Shah said that India has set the target of Net Zero Carbon Emission by the year 2070. He said that we have already achieved the targets of International Solar Alliance, Global Bio-fuel Alliance and 20 percent Ethanol Blending by the year 2025. Today all our vehicles have 20 percent eco-friendly fuel. Shri Shah said that by providing 10 crore gas connections under the Ujjwala Yojana, we have stopped the smoke of cow dung cakes and coal. We have increased the Swachhata Abhiyan from 39 percent to 100 percent sanitation coverage. Along with this, the Green Hydrogen Mission has started the implementation of a new type of scheme in the entire world.

    Union Home Minister said that, if the best COVID management has happened anywhere in the world, it has happened in India. Every Indian should be proud of this and the whole world praises our efforts immensely. He said that as soon as Corona arrived, we started making the vaccine. He said that during the previous regime, it used to take two generations to administer vaccines but under Modi Government India not only got the vaccine made but also ensured that it reached every citizen of the country. Shri Shah said that there is no parallel to such a precise use of technology for public welfare anywhere in the world. Due to the use of technology, the certificate was made available on the mobile as soon as the vaccine was administered and a reminder message would also come up with the time for the second vaccine.

    Shri Amit Shah said that through video conference in the state’s civil hospitals and AIIMS, doctors treating minor diseases in small villages were guided about telemedicine, which saved the lives of lakhs of people. He said that the Prime Minister talked to the Chief Ministers of the states 40 times during COVID-19 and inquired about the situation. Not only the Prime Minister, the entire cabinet was involved in this work.

    Union Home Minister said that due to our leadership we were able to fight the best battle against Corona in the whole world. Governments were fighting against Corona all over the world, but here the Central Government, State Government and 130 crore people were fighting together. He said that there is not a single example in independent India when an appeal by a leader has had the seriousness of a government order and the whole country followed the appeal of the Prime Minister Shri Narendra Modi for Janta curfew with full seriousness. No leader’s appeal had ever received such a great respect.

    Shri Amit Shah said that the Prime Minister’s National Relief Fund (PMNRF) was created during the previous regime. He said fund from PMNRF used to be given to Rajiv Gandhi Foundation. Shri Shah said that during Modi ji’s regime PM Cares fund was created. We spent its funds for tackling the corona epidemic, disaster relief, oxygen plants, ventilators, assistance to the poor and vaccination. Shri Shah said that under PM Cares, along with relief work, we have also provided many types of innovative assistance. There is no political interference in this.

    Union Home Minister said that for Karnataka, an estimate of Rs 5,909 crore was given by a high-level committee, out of which Rs 5,800 crore was transferred. For Kerala, an estimate of Rs 3,743 crore was made, out of which Rs 2438 crore was given. For Tamil Nadu, Rs 4600 crore was given out of Rs 4817 crore. West Bengal was given Rs 5000 crore out of Rs 6837 crore. Himachal Pradesh was given Rs 1766 crore out of Rs 2339 crore. The committee has given more or less the same amount to Telangana as well.

    Shri Amit Shah said that Rs 111 crore was given to Jharkhand, Rs 121 crore to Kerala, Rs 460 crore to Maharashtra, Rs 256 crore to Bihar and Rs 254 crore to Gujarat for fire-fighting measures, which was never given before. He said that other states will be given funds for fire-fighting measures next year. Shri Shah said that Rs 228 crore has been given to Tamil Nadu between the years 2019 to 2024 and a lot of assistance has been provided.

    Union Home Minister said that we declared the disaster in Wayanad, Kerala as a disaster of severe nature. Rs 215 crore was immediately released from the National Disaster Response Fund (NDRF). Rs 36 crore was sent for debris removal, which has not been spent yet. Apart from this, assistance of Rs 153 crore was given on the basis of the IMCT report. The state government has estimated the need for Rs 2219 crore for normalizing the situation and reconstruction, out of which Rs 530 crore has been given. Along with this, other measures have been suggested to get additional assistance from a special window.

    Shri Amit Shah said that for the Central Government, citizens of all states including Kerala, Ladakh, Gujarat, Uttar Pradesh are equal and we do not discriminate against anyone. He said that in the Disaster Management Bill, we have paid attention to increasing human resources along with the provision of increasing technical capacity. Along with the government’s effort, provision has also been made for community effort and along with disaster-resistant construction, care has also been taken for the conservation of nature.

    ********

     

    RK/VV/RR/PR/PS

    (Release ID: 2115092) Visitor Counter : 57

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Central Council for Research in Ayurvedic Sciences actively involved in strengthening clinical research infrastructure in Ayush

    Source: Government of India (2)

    S.

    No.

    Name of Project

    Name of the Collaborating Institutes

    Clinical Research Projects

    1.

    A phase II trial to study efficacy, toxicity and imunomodulatory effect of Carctol-S in high grade serous epithelial ovarian cancer at first

    serological relapse collaborative project.

    The Advanced Centre for Treatment, Research and Education in Cancer & CARI, Mumbai

    2.

    Evaluation of Hepatoprotective activity of PTK as an add on therapy in the patients of Tuberculosis  on  ATT  –  A  double  blind

    randomized control clinical study

    K.L.E. Academy        of        Higher Education & Research, Belagavi

    3.

    Evaluating the efficacy of Ayurvedic intervention as add on to conventional treatment and explore the interaction of epigenetics, neuro/gut biomarkers and neuroimaging in pediatric ADHD (Attention Deficit Hyperacidity Disorder)

    National Institute of Mental Health and Neuro-Sciences (NIMHANS) Bengaluru

    4.

    Double blind randomized placebo controlled multicentric clinical trial of Ayush M-3 in the management of Migraine.

    NIMHANS, Bengaluru

    5.

    Ayurveda therapeutic regimen as on Add-on to optimized conventional management of Parkinson’s disease: an RCT for assessment of clinical Cortical excitability neuroimmune and Autonomic function parameters.

    NIMHANS, Bengaluru

    6.

    Efficacy and safety of Ayurveda Formulation Trikatu as add on to standard care in Dyslipidemia – a randomized controlled trial

    All    India   Institute   of   Medical Sciences (AIIMS) , Bhubaneswar

    7.

    Efficacy of Ayurveda regimen (mild purgation and internal oleation) in comparison with Allopathic regimen (Letrozole) along with Yoga module in the management of unexplained and anovulatory female infertility: A RCT

    Indian               Institute               of Technology (IIT) , Mandi

    8.

    Topical Oil Pooling (Karnapurana) with Kshirabala Taila and supple mentation of Ashwagandha churna (TOPMAC) in presbycusis

    – An exploratory randomized controlled trial

    Institute of Communicative and cognitive                   Neurosciences (ICCONS), Shoranur, Kerala

    9.

    Prospective, Randomized, Open-Label, Blinded End Point exploratory clinical study to evaluate the efficacy and safety of Ayurvedic regimen as an adjunct to Hydroxyurea in the management of Sickle cell disease.

    AIIMS, Bhopal

    10.

    A multi-center study to assess the treatment adherence & tolerability of Ayush SR in Generalized Anxiety Disorder (GAD)

    Shri B.M. Kankanawadi Ayurveda Mahavidyalaya,                  Belgavi; Vaidyaratnam PS Varier Ayurveda

    College, Kotakkal; Sri Sri College of Ayurvedic Science and Research,                                        Bengaluru;

    Adichunchanagiri            Ayurvedic Medical College, Bengaluru

    11.

    Impact of Mukta Shukti Bhasma and Saubhagya Shunti in reversal of bone mineral density among Lactating women consuming traditional diet foods in Maharashtra: A randomized Controlled preliminary clinical study

    National Institute for Research in Reproductive and Child Health (NIRRCH-ICMR), Mumbai

    12.

    Efficacy of Ayurveda interventions (Hridyarnava Rasa and Harityakyadi yoga) as an add-on to standard care in Stable Coronary Artery Disease (CAD) assessed through Global Longitudinal Strain Imaging Technique (GLSIT) – A Randomized Controlled Trial.

    Ayurvedic Cardiac Rehabilitation Centre, Madhavbaugh, Pune

    13.

    Prospective double blind randomized controlled clinical study on Ayurvedic intervention (Pushkar guggulu & Haritaki churna) in the management of stable coronary artery disease.

    Safdarjung Hospital, New Delhi

    14.

    A randomized double blind placebo control clinical study to evaluate the immunomodulatory effect of Swarnaprashan in moderately malnourished children.

    Sanjiv Gandhi Post Graduate Institute of Medical Sciences, Lucknow

    15.

    Efficacy and safety of Punarnavadi Mandura alone and in combination with Drakshavaleha compared to iron folic acid in the treatment of moderate iron deficiency anaemia among non- pregnant women of reproductive age group: a community-based three arm multicentre randomized controlled trial.

    Ayush-ICMR

    16.

    Randomized controlled trial of Anshumati Ksheer Paka in hypertension induced left ventricular hypertrophy

    Safdarjung Hospital, New Delhi

    17.

    Anemia control among adolescent girls through Ayurveda interventions in the five districts under Mission -Utkarsh

    All India Institute of Ayurveda (AIIA), New Delhi; National Institute of Ayurveda (NIA), Jaipur, Public Health Foundation of India (PHFI)’s Indian Institute of Public Health-Delhi (IIPH-D)

    18.

    An exploratory series of n of 1 responder restricted study of Ayurveda regimen on quality of life among elderly population in Ballabgarh district of Haryana- A community-based study.

    AIIMS, Ballabhgarh

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Ministry of Ayush has taken multiple initiatives towards integration of Ayush systems of medicine with Allopathic system

    Source: Government of India (2)

    AYUSH

    Ministry of Ayush has taken multiple initiatives towards integration of Ayush systems of medicine with Allopathic system

    Posted On: 25 MAR 2025 6:11PM by PIB Delhi

    The Ministry of Ayush has taken multiple initiatives towards integration of Ayush systems of medicine including Ayurveda with Allopathic system:

    1. The Ayush Vertical under Directorate General of Health Services (DGHS), established by the Ministry of Ayush and Ministry of Health and Family Welfare (MoH&FW), serves as a dedicated institutional mechanism for planning, monitoring, and supervising Ayush-specific public health programs. This vertical provides technical support to both Ministries in developing strategies for public health, healthcare, Ayush education, and training.
    2. The Ministry of Ayush and MoH&FW have jointly established Integrated Ayush Departments in Central Government Hospitals to promote integrative healthcare. As part of this initiative, Department of Integrative Medicine has been set up and is operational at Vardhman Mahavir Medical College & Safdarjung Hospital and Lady Hardinge Medical College, New Delhi through All India Institute of Ayurveda (AIIA), New Delhi and Central Ayurveda Research Institute (CARI), Punjabi Bagh, New Delhi respectively. No separate funding is allocated for establishing these centres.
    3. An Advisory committee was constituted under the chairpersonship of Dr. V.K. Paul, Member (Health), NITI Aayog to study the existing knowledge and efficacy of different models of Integrative Medicine and its benefits at large and to propose a framework of comprehensive Integrative Health Policy.
    4. Government of India has adopted a strategy of Co-location of AYUSH facilities at Primary Health Centres (PHCs), Community Health Centres (CHCs) and District Hospitals (DHs), thus enabling the choice to the patients for different systems of medicines under a single window. The engagement of AYUSH doctors/ paramedics and their training is supported by the MoH&FW under National Health Mission (NHM), while the support for AYUSH infrastructure, equipment/ furniture and medicines are provided by the Ministry of Ayush under National AYUSH Mission (NAM) as shared responsibilities.
    5. The Central Council for Research in Ayurvedic Sciences (CCRAS) has undertaken research studies such as Operational study to explore the feasibility of integrating Ayurveda with modern system of medicine in a tertiary care hospital (Safdarjung Hospital New Delhi) for the management of Osteoarthritis (Knee), Feasibility of introducing the Indian System of Medicine (Ayurveda) in the National Reproductive and Child Health services at the Primary Health Care (PHC) level in Himachal Pradesh and Integration of AYUSH systems in the National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases & Stroke (NPCDCS) and Feasibility of introducing Ayurveda Intervention in Reproductive and Child Health (RCH) in PHCs of the Selected district (Gadchiroli) of Maharashtra (Effectiveness of Ayurvedic intervention for Ante-Natal care (Garbhini Paricharya) at Primary Health Care level: A Multi Centre Operational Study). Details of the collaborative projects by the Council in the last five years are given in Annexure I.

     

    Further, Indian Council of Medical Research (ICMR) and CCRAS has taken an initiative to set up Ayush-ICMR Advanced Centre for Integrative Health Research (AI-ACIHR), at All India Institute of Medical Sciences (AIIMS) to conduct research on identified areas focusing on integrative healthcare under Extra Mural research Scheme of ICMR. Under this program, four research areas in four AIIMS have been identified, which are as follows:

     

    1. AIIMS Delhi:
      1. Advanced Centre for Integrative Health Research in Gastro-intestinal Disorders
      2. Advanced Centre for Integrative Health Research in Women and Child Health
    2. AIIMS Jodhpur: Advanced Centre for Integrative Health Research in Geriatric Health
    3. AIIMS Nagpur: Advanced Centre for Integrative Health Research in Cancer Care
    4. AIIMS Rishikesh: Advanced Centre for Integrative Health Research in Geriatric Health.

     

    1. In All India Institute of Ayurveda (AIIA), New Delhi, integrative medical services are available under, Centre for Integrative Cancer Therapy, Centre for Integrative Dentistry, Centre for Integrative Critical Care & Emergency Medicine, Centre for Integrative Orthopedics, Centre for Integrative Dietetics and Nutrition and Causality OPD Section. Integrated services are also provided through Satellite Clinical Services Units established at Integrative Medical Services Unit at Safdarjung Hospital, New Delhi, Integrative Medical Services Unit AIIMS Jhajjar and Centre for Integrative Oncology at National Cancer Institute – AIIMS, Jhajjar.
    2. Institute of Teaching and Research in Ayurveda (ITRA), conducts integrated research and also has visiting allopathic doctors for consultation.
    3. The Ministry of Ayush has been implementing the Central Sector Scheme namely Ayurswasthya Yojana since 2021-22. The Scheme has 02 components viz. (i) Ayush & public health (PHI) component and (ii) Upgradation of facilities to the centre of excellence. Under the Centre of Excellence, financial assistance is provided to support creative and innovative proposals of prestigious organizations with well-established buildings and infrastructure and wish to work for Ayush systems to the level of Centre of Excellence. Nine organizations of National repute have been funded under the Centre of Excellence component of Ayurswasthya Yojana under the activity-based/research-based Centre of Excellence for research and development to integrate the knowledge of Ayurveda with the modern system of medicine. Details of organizations are given at Annexure II.

    Annexure I

    LIST OF COLLABORATIVE PROJECTS OF LAST FIVE YEARS 2020-21 TO 2024-25

    1. COMPLETED PROJECTS

     

    S.

    No.

    Name of Project

    Name of the Collaborating Institutes

    1.

    Evaluation of Add on Efficacy & Safety of an Ayurvedic coded Formulation in the management of Dengue Fever & Prevention of its complications – A Double Blind Clinical Study

    National Institute of Traditional Medicine, Belagavi, KLE University’s Department of Integrative Medicine, Kolar.

    2.

    A Randomized Placebo Controlled Prospective Phase II Clinical Study of an Ayurvedic Coded Drug ‘AYUSH-D’ on Glycemic control in Pre- Diabetic Subjects

    Central Ayurveda Research Institute, Bengaluru

    AIIMS, New Delhi

    RRA Poddar Medical College, Mumbai

    KLEU’s        Shri       BMK                      Ayurveda Mahavidyalaya, Belgavi

    3.

    A Randomized Placebo Controlled Phase II Clinical Study of an Ayurvedic Coded Drug ‘AYUSH-D’ in the management of Type 2 Diabetes Mellitus as add on Therapy to Metformin

    Central Ayurveda Research Institute, Bengaluru

    AIIMS, New Delhi

    RRA Poddar Medical College, Mumbai

    Rajiv      Gandhi    PG    Govt               Ayurveda College, Paprola

    4.

    Multi-centric Collaborative Double Blind study on clinical evaluation of AYUSH-SL in chronic Filarial Lymphoedema in patients receiving mass drug administration Multi-centric Collaborative Double Blind study on clinical evaluation of AYUSH-SL in chronic Filarial Lymphoedema in patients receiving mass drug administration

    Calcutta School of Tropical Medicine (CSTM) in collaboration with CARI, Kolkata

    Central Ayurveda Research Institute, Bhubaneswar

    Regional Ayurveda Research Institute, Vijayawada

    5.

    Feasibility          of        introducing                          Ayurveda intervention in Reproductive and Child Health

    30 PHCs of Gadchiroli District of Maharashtra

    (RCH) in PHCs of selected district (Gadchiroli) of Maharashtra (Effectiveness of Ayurvedic Intervention for Ante-Natal care (Garbhini Paricharya) at Primary Health Care level: A Multi Centre Operational Study)

    6.

    Randomized control study to evaluate the efficacy of Ayush CCT and Rajyoga Meditation versus conventional treatment on clinical recovery and post-operative outcomes following elective adult cardiothoracic surgeries

    AIIMS, New Delhi

    7.

    Clinical evaluation of the efficacy of “Ayush- SS Granules” in exclusively breast feeding mothers with Insufficient Lactation (Stanyalpata)-A Randomized double blind placebo control Trial”

    Vardhman Mahavir Medical College & Safdarjang Hospital, New Delhi

    8.

    A comparative clinical study of Ayush LND a coded Ayurvedic formulation in the management of Asrigdara (Abnormal Uterine Bleeding)

    Regional Ayurveda Research Institute,, Nagpur

    Govt. Medical College, Nagpur

    9.

    A Randomized controlled trial to evaluate the efficacy of Marma therapy in Lumbar disc Herniation with Radiculopathy.

    Uttrakhand         Ayurved                            University, Dehradun

    10.

    Efficacy of Ayurveda nutritional supplements and Yoga protocol in the prevention and reduction of the severity of Acute Mountain Sickness: an open-label randomized controlled study

    2118 field hospitals, Nimu/Leh under the AFMS, Northern Command of Indian Army

    11.

    A pilot study to assess the effect of intranasal oil instillation (Pratimarsha Nasya) on nasal barrier function among healthy individuals

    Dr D Y Patil Vidyapeeth, Pune

    12.

    Prospective double blind randomized controlled clinical study on Ayurvedic intervention (Sarpagandha Mishran) vs. Amlodipine in the management of stage-I Primary Hypertension

    AIIMS Delhi

    13.

    Randomized double blind placebo controlled clinical study Ayurvedic coded drug AYUSH-A in the management of Bronchial Asthma (Tamaka Shwasa)

    AIIMS Delhi

    14.

    Study the physiological basis and gut bacterial modulation induced by Virechana Purgation therapy in the healthy adults: A prospective longitudinal study.

    Institute of Liver and Biliary Sciences, Delhi

    15.

    Morbidity and Healthcare-seeking behaviour of

    Directorate       General     Armed                         Force

    the patients visiting the Ayurveda healthcare facilities of the DGAFMS Hospitals: A multicentre cross-sectional survey study

    Medical Services- facilities

    16.

    A Randomized Controlled Study to Assess the Effect of Marsha Nasya Karma in Motor, Sensory, Memory and Cognitive Parameters elicited through f – MRI in Apparently Healthy Individuals.

    Amrita Institute of Medical Sciences, Cochin, Kerala

    17.

    Evaluation of Ayush-GMH in the subjects of mild to moderate Non alcoholic fatty liver disease (NAFLD)-A double blind randomized control clinical study

    KLE’s Dr. Prabhakar Kore Hospital & Medical Research Centre, Belagavi ICMR – National Institute of Traditional Medicine, Belegavi

    18.

    A randomized trial to evaluate the efficacy of multimodal Ayurveda interventions in Jannu Sandhigatavata (Primary Knee – osteoarthritis)

    AIIMS Delhi

    19.

    Clinical evaluation of Ayurvedic management in Allergic Rhinitis- A Randomized controlled Trial

    Vardhman Mahavir Medical College & Safdarjang Hospital, New Delhi

     

    1. ONGOING PROJECTS

     

    S.

    No.

    Name of Project

    Name of the Collaborating Institutes

    1.

    A phase II trial to study efficacy, toxicity and imunomodulatory effect of Carctol-S in high grade serous epithelial ovarian cancer at first serological relapse collaborative project.

    Tata Memorial Hospital ACTREC Mumbai & Central Ayurveda Research Institute, Mumbai

    2.

    Evaluation of Hepatoprotective activity of PTK as an add on therapy in the patients of Tuberculosis on ATT – A double blind randomized control clinical study

    KLE’s Dr. Prabhakar Kore Hospital & Medical Research Centre, Belagavi

    3.

    Evaluating the efficacy of Ayurvedic intervention as add on to conventional treatment and explore the interaction of epigenetics, neuro/gut biomarkers and neuroimaging in pediatric ADHD (Attention Deficit Hyperacidity Disorder)

    National Institute of Mental Health and Neurosciences, Bengaluru

    4.

    Double blind randomized placebo controlled multicentric clinical trial of Ayush M-3 in the management of Migraine.

    National Institute of Mental Health and Neurosciences, Bengaluru

    5.

    Ayurveda therapeutic regiman as on Add-on

    to optimized conventional management of Parkinson’s disease: an RCT for assessment

    National Institute of Mental Health and Neurosciences, Bengaluru

    of clinical Cortical excitability neuroimmune and Autonomic function parameters.

    6.

    Efficacy and safety of Ayurveda Formulation Trikatu as add on to standard care in Dyslipidemia – a randomized controlled trial

    AIIMS, Bhubaneswar

    7.

    Efficacy of Ayurveda regimen (mild purgation and internal oleation) in comparison with Allopathic regimen (Letrozole) along with Yoga module in the management of unexplained and anovulatory female infertility: A RCT

    IIT, Mandi

    8.

    Topical Oil Pooling (Karnapurana) with Kshirabala Taila and supple mentation of Ashwagandha churna (TOPMAC) in presbycusis – An exploratory randomized controlled trial

    Institute for Communicative and Cognitive Neurosciences(ICCONS), Shoranur, Kerela

    9.

    Prospective, Randomized, Open-Label, Blinded End Point exploratory clinical study to evaluate the efficacy and safety of Ayurvedic regimen as an adjunct to Hydroxyurea in the management of Sickle cell disease.

    AIIMS, Bhopal

    10.

    A multi-center study to assess the treatment adherence & tolerability of Ayush SR in Generalized Anxiety Disorder (GAD)

    Shri B.M. Kankanawadi Ayurveda Mahavidyalaya, Belgavi; Vaidyaratnam PS Varier Ayurveda College, Kotakkal; Sri Sri College of Ayurvedic Science and Research, Bengaluru; Adichunchanagiri Ayurvedic Medical College, Bengaluru

    11.

    Impact of Mukta Shukti Bhasma and Saubhagya Shunti in reversal of bone mineral density among Lactating women consuming traditional diet foods in Maharashtra: A randomized Controlled preliminary clinical study

    ICMR-National Institute for Research in Reproductive and Child Health, Mumbai

    12.

    Efficacy of Ayurveda interventions (Hridyarnava Rasa and Harityakyadi yoga) as an add-on to standard care in Stable Coronary Artery Disease (CAD) assessed through Global Longitudinal Strain Imaging Technique (GLSIT) – A Randomized Controlled Trial.

    Ayurvedic Cardiac Rehabilitation Centre, Madhavbaugh, Pune

    13.

    Prospective double blind randomized controlled clinical study on Ayurvedic intervention (Pushkar guggulu & Haritaki churna) in the management of stable coronary artery disease.

    Safdarjung Hospital, New Delhi

    14.

    A randomized double blind placebo control clinical study to evaluate the immunomodulatory effect of Swarnaprashan in moderately malnourished children.

    Sanjiv Gandhi Post Graduate Institute of Medical Sciences, Lucknow

    15.

    Randomized controlled trial of Anshumati Ksheer Paka in hypertension induced left ventricular hypertrophy

    Safdarjung Hospital, New Delhi

    16.

    Anemia control among adolescent girls through Ayurveda interventions in the five districts under Mission Utkarsh

    All India Institute of Ayurveda, New Delhi;

    National Institute of Ayurveda, Jaipur, Public Health Foundation India’s IIPH- Delhi

    17.

    An exploratory series of n of 1 responder restricted study of Ayurveda regimen on quality of life among elderly population in Ballabgarh district of Haryana- A community based study.

    AIIMS, Ballabhgarh

    ANNEXURE II

     

    NINE ORGANIZATIONS OF NATIONAL REPUTE FUNDED UNDER CENTRE OF EXCELLENCE COMPONENT OF AYURSWASTHYA SCHEME TO INTEGRATE KNOWLEDGE OF AYURVEDA WITH MODERN SYSTEM OF MEDICINE AYURSWASTHYA SCHEME:

     

    S.

    No.

    Name of the Organization

    State

    Project Name

    Fund Released (Amount in Crore)

    2022-23

    2023-24

    2024-25

    1.

    Tata Memorial Centre, (TMC) Mumbai

    Maharashtra

    Centre                          of

    Excellence   for

    Discovery and Development of AYUSH

    Medicine for Cancer Care

    –

    2.00

    1.62

    2.

    Central Drug Research Institute (CDRI),

    Lucknow

    Uttar Pradesh

    Center                          of

    Excellence                         for Fundamental and Translation Research            in

    Ayurveda          at Central Drug Research Institute

    –

    2.00

    1.99

    3.

    Jawaharlal Nehru University, (JNU) New Delhi

    Delhi

    Functional-based CoE on Ayurveda

    and                Systems Medicine

    –

    1.01

    2.44

    4.

    Indian Institute of Technology (IIT) Delhi

    Delhi

    Centre                          of

    Excellence         in Sustainable Ayush             for Advanced technological solutions, startup support and net zero            sustainable solutions    for

    Rasausadhies

    –

    2.00

    1.14

    5.

    Indian Institute of Science (IISC) Bengaluru

    Karnataka

    Centre                          of

    Excellence                          in

    Diabetes                        and Metabolic Disorders

    –

    2.00

    1.82

    6.

    Centre for

    Delhi

    Centre                          of

    2.05

    2.04

    –

    Integrative Medicine and Research (CIMR), AIIMS

    New Delhi

    Excellence                         for

    Yoga                          &

    Ayurveda

    7.

    National Institute of Mental Health and Neurosciences (NIMHANS),

    Bangalore

    Karnataka

    Centre                          of

    Excellence         in Ayush Research

    0.85

    0.37

    –

    8.

    Institute of Liver and                  Biliary Sciences (ILBS)

    Delhi

    Effects of Indian Foods                        and Ayurvedic  drugs

    on healthy and diseases Liver

    2.61

    –

    –

    9.

    Indian Institute of Technology, (IIT) Jodhpur

    Rajasthan

    Centre                          of

    Excellence         in AYURTech                   for Integrative Precision                   Health and Medicine

    –

    4.00

    –

    Total

    5.51

    15.42

    9.01

    This information was given by Union Minister of State (I/C) for Ayush, Shri Prataprao Jadhav in a written reply in Rajya Sabha today.

    ***

    MV/AKS

    (Release ID: 2114965)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Global CEO of Eli Lilly, world’s pioneer Insulin manufacturing Company, David Ricks called on Union Minister Dr. Jitendra Singh to discuss strengthening partnership, with a focus on Insulin and Non-Communicable Disease (NCD) therapies as well as biomanufacturing

    Source: Government of India

    Global CEO of Eli Lilly, world’s pioneer Insulin manufacturing Company, David Ricks called on Union Minister Dr. Jitendra Singh to discuss strengthening partnership, with a focus on Insulin and Non-Communicable Disease (NCD) therapies as well as biomanufacturing

    The talks also covered the establishment of a Centre of Excellence for insulin therapies, as well as clinical trials for advanced treatment options

    Posted On: 25 MAR 2025 5:47PM by PIB Delhi

    Global CEO of Eli Lilly, world’s pioneer Insulin manufacturing Company, David Ricks called on Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh to discuss strengthening partnership, with a focus on Insulin and Non-Communicable Disease (NCD) therapies as well as biomanufacturing.

    Eli Lilly, a global pharmaceutical giant headquartered in Indianapolis, Indiana and a global pioneer in Insulin production for Diabetes and several other drugs particularly for Cancer etc has a significant presence in India through its subsidiary, Eli Lilly and Company (India) Pvt. Ltd. The company imports and markets medicines for diabetes, gastric cancer, lung cancer, breast cancer, osteoporosis, rheumatoid arthritis, and other critical diseases. Its operations also extend to Nepal, Bangladesh, and Sri Lanka through partnerships with local pharmaceutical firms.

    The talks also covered the establishment of a Centre of Excellence for insulin therapies, as well as clinical trials for advanced treatment options.

    Dr. Jitendra Singh, himself a renowned Endocrinologist, emphasized on carrying out studies particularly for India, as there is difference in metabolic disorders faced in India and the rest part of the world. He stressed that food habits and phenotype are different thus central obesity and visceral obesity is quite prevalent.

    With diabetes being a major health concern in India, discussions on expanding insulin production and accessibility hold immense significance. Dr. Jitendra Singh, who has been vocal about leveraging biotechnology for affordable healthcare solutions, welcomed the dialogue, emphasizing India’s growing capabilities in pharmaceuticals and clinical research. The conversation aligns with the government’s broader push for self-reliance in drug manufacturing and innovation in life sciences.

    Referring to India’s push for affordable healthcare for all and the importance of generic medicine, Dr. Jitendra Singh said “Both Generic Medicine and advancement in specialized medicine can co-exist in India.

    Eli Lilly’s engagement aligns with the government’s broader vision of achieving self-reliance in drug manufacturing and advancing innovation in life sciences. Dr. Jitendra Singh has emphasized that bio-manufacturing plays a crucial role in India’s Atmanirbhar Bharat initiative by reducing import dependence and ensuring wider access to cutting-edge therapies. He has pointed out that India’s robust pharmaceutical industry, evolving biotech ecosystem, and highly skilled scientific workforce position the country as a potential global leader in bio-manufacturing. The Minister has also highlighted the importance of government-industry collaboration in accelerating research, streamlining regulatory processes, and driving innovation, particularly in insulin production and treatments for non-communicable diseases.

    Eli Lilly’s engagement with India comes at a time when the country is focusing on bolstering its pharmaceutical industry, not just for domestic needs but also as a global supplier. The potential establishment of a Centre of Excellence could serve as a critical step in making insulin therapies more accessible, reinforcing India’s role in combating lifestyle diseases.

    The meeting underscores the increasing collaboration between global pharmaceutical firms and the Indian government, with a shared vision of enhancing healthcare accessibility and advancing research in non-communicable diseases.

    *****

    NKR/PSM

    (Release ID: 2114936) Visitor Counter : 15

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: NYPA’s First Fully Owned Renewable Energy Project

    Source: US State of New York

    overnor Kathy Hochul today announced that the New York Power Authority (NYPA) has acquired full ownership of a 20 megawatt (MW) solar energy generation project in the town of Fort Edward in Washington County. The Somers Solar project is the first to be acquired, owned and operated by the Power Authority under its expanded authority – signed into law by the Governor in 2023 – and is the first of NYPA’s initial tranche of projects highlighted in its renewables strategic plan, which was announced earlier this year and calls for 3 gigawatts of potential renewable energy growth in New York State.

    “With the acquisition of the Somers Solar project, NYPA is taking a significant step forward in its commitment to expand renewable energy resources in New York State,” Governor Hochul said. “The project reflects New York’s efforts to create a greener, more resilient energy system that benefits all New Yorkers, and demonstrates our focus on driving economic growth in local communities while creating good-paying union jobs.”

    New York Power Authority President and CEO Justin E. Driscoll said, “Our first new renewable energy project as part of NYPA’s expanded authority will be the 100% NYPA-owned and NYPA-operated 20 MW Somers Solar project in Washington County. Our role is to bring this project to execution and ensure its efficient and safe operation for generations; that is what NYPA does best.”

    The Power Authority, through its wholly-owned subsidiary the New York Renewable Energy Development Holdings Corporation (NYRED), will construct and operate the 20 MW solar generation project on a 150-acre site about 50 miles north of Albany in the Capital Region. The large-scale solar project is estimated to create more than 100 union jobs during construction and operation.

    The NYPA Renewables Strategic Plan is a roadmap for NYPA’s renewable energy development under its expanded authority to build additional renewable energy resources to support the State’s clean energy transition.

    Previously under development by Edison, N.J.-based CS Energy, the Power Authority’s acquisition of Somers Solar will enable the original developer to reinvest their resources into future renewable project developments.

    CS Energy Chief Commercial Officer Eric Millard said, “We are proud to play a key role in advancing New York’s clean energy transition with the development of this solar project. Our commitment to building a clean and sustainable future aligns with New York’s ambitious energy goals, and we look forward to continuing to support it.”

    NYPA’s Expanded Authority to Develop Renewable Energy

    The 2023-24 Enacted State Budget authorized NYPA to advance renewable energy and support state priorities, building on NYPA’s existing efforts to provide clean, affordable power and expand New York’s transmission system. Specifically, this expanded authority called for NYPA to accelerate renewable energy development, support workforce training, establish the REACH program, support decarbonization efforts across the state, and deactivate its small natural gas power plants in New York City and on Long Island.

    Since Governor Kathy Hochul signed the 2023-2024 Enacted State Budget into law, NYPA has made significant progress, including establishing new business structures, filling key roles, making regulatory filings, securing tax rulings, and advancing initial projects. NYPA has also issued a $100 million bond issuance for new renewables and established the new renewables subsidiary, NYRED, to facilitate external capital and protect against project risks.

    In January 2025, the Power Authority published its inaugural Renewables Strategic Plan for developing new renewable energy generation projects to supply New Yorkers with affordable, reliable, and emissions-free electricity. The plan outlines 37 projects across New York State, representing a potential of more than 3 GW of renewable energy. The plan also reflects feedback from thousands of stakeholders statewide, sets priorities for projects to be advanced over the next two years and includes the pursuit of additional projects in future updates to the plan.

    Assemblymember Didi Barrett said, “NYPA’s acquisition of this large-scale solar project is the first of its kind under its expanded authority to build renewables. NYPA’s ownership will ensure affordable energy for New Yorkers while creating good paying union jobs and helping us reach our ambitious climate goals.”

    Assemblymember Carrie Woerner said, “I am pleased that the New York Power Authority will be developing and operating the Somers Solar Project bringing more jobs to Washington County and providing clean renewable energy at an affordable cost for consumers.”

    New York State’s Climate Agenda

    New York State’s climate agenda calls for an affordable and just transition to a clean energy economy that creates family-sustaining jobs, promotes economic growth through green investments, and directs a minimum of 35 percent of the benefits to disadvantaged communities. New York is advancing a suite of efforts to achieve an emissions-free economy by 2050, including in the energy, buildings, transportation, and waste sectors.

    About NYPA 

    NYPA is the largest state public power organization in the nation, operating 17 generating facilities and more than 1,550 circuit-miles of transmission lines. More than 80 percent of the electricity NYPA produces is clean renewable hydropower. NYPA finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information visit  www.nypa.gov  and follow us on Twitter, Facebook, Instagram, Tumblr, and Linkedin.

    MIL OSI USA News –

  • MIL-OSI USA: BLAIR COUNTY – Governor Shapiro to Visit Penn England Farms, Highlight Administration’s Plan to Lower Energy Costs for Rural Communities & Farmers

    Source: US State of Pennsylvania

    March 26, 2025 – Williamsburg, PA

    ADVISORY – BLAIR COUNTY – Governor Shapiro to Visit Penn England Farms, Highlight Administration’s Plan to Lower Energy Costs for Rural Communities & Farmers

    Governor Josh Shapiro will visit Penn England Farms to highlight a key component of his energy plan – known as the Lightning Plan – that will help lower energy costs for agriculture producers and rural communities. The Governor’s proposal would allow Pennsylvanians to jointly share energy resources to lower their costs, such as a group of farmers using a methane digester.

    WHO:
    Governor Josh Shapiro
    Secretary Russell Redding, Department of Agriculture
    Mark Heeter, Blair County Farm Bureau
    Steven McKnight, Blair County Alliance for Business & Economic Growth
    Yvette Longenecker, Penn-England Farms

    WHEN:
    Wednesday, March 26, 2025, at 11:30 AM

    WHERE:
    Penn England Farms
    10290 Fox Run Road,
    Williamsburg, PA 16693

    LIVE STREAM:
    pacast.com/live/gov
    governor.pa.gov/live/

    RSVP:
    Press who are interested in attending must RSVP with the names and phone numbers for each member of their team to ra-gvgovpress@pa.gov.

    MIL OSI USA News –

  • MIL-OSI NGOs: Greenpeace USA x ACLU Op-Ed

    Source: Greenpeace Statement –

    Greenpeace US Attorney, Deepa Padmanabha, left, talks with Greenpeace USA Interim Executive Director Sushma Raman, center, and Greenpeace International General Counsel Kristin Casper. © Tim Aubry / Greenpeace

    WASHINGTON, D.C. (March 25, 2025) — In an op-ed published in The Guardian, Greenpeace Inc. and Greenpeace Fund Interim Executive Director Sushma Raman alongside ACLU executive director Anthony Romero discuss how the recent $660m judgment against Greenpeace USA poses a serious threat to free speech and protest rights.

    Excerpts from the piece follows:

    The verdict that threatens free speech 

    The First Amendment guarantees freedom of speech and freedom of assembly. It will have little meaning if multi-billion dollar corporations can sue peaceful protestors out of existence for their speech. Yet, that’s exactly what was decided in a small courtroom in Morton County, North Dakota. 

    Energy Transfer – a Dallas-based fossil fuel company that is responsible for the Dakota Access Pipeline (DAPL) – sued two Greenpeace entities in the U.S. (Greenpeace Inc. and Greenpeace Fund), and Greenpeace International. Energy Transfer was awarded more than US$660 million in a highly watched, month-long case. Greenpeace will appeal the verdict.

    …

    The ruling in the Energy Transfer case could have wide ranging consequences on First Amendment rights in the U.S. By attempting to hold Greenpeace liable for everything that happened at Standing Rock, the case attempts to establish the idea that, for any participation in a protest, you can be held liable for the actions of other people, even if you’re not associated with them or if they’re never identified. It’s easy to see how this win for Energy Transfer could chill speech and silence future protests before they even begin. 

    …

    Perhaps equally worrisome, this case is an attack on the type of ordinary advocacy that organizations like Greenpeace and the ACLU – alongside many others – rely on to do their work. Everyday actions like attending a protest, signing a letter of support, or supporting communities at risk should never be considered “unlawful.” Otherwise, the future of everyone’s First Amendment rights could be at risk.

    If corporations can weaponize the court system to attack protesters and advocates for their speech, then any political speech or cause could become a target. And in an environment where the Trump administration is regularly leading dangerous attacks against our basic rights and liberties, including against the press and activists, this threat is all the more serious.

    The right to protest and speak out must be embraced as a core pillar in a functioning democracy – even when that speech threatens the rich and powerful, and even when it’s speech we don’t agree with. 

    Read the full op-ed here.

    Sushma Raman is the Interim Executive Director of Greenpeace USA.
    Anthony Romero is the Executive Director of the American Civil Liberties Union.

    Contact: Madison Carter, Greenpeace USA Senior Communications Specialist, [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 Africa: Nguya Floating Liquefied Natural Gas (FLNG) to Sail Away from China in September 2025

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

    BRAZZAVILLE, Congo (Republic of the), March 25, 2025/APO Group/ —

    Nguya Floating Liquefied Natural Gas (FLNG) is set to sail away from China in September 2025, Federico Ricco, Development Director at Congo LNG, said at the Congo Energy & Investment Forum 2025 during the FLNG Developments in the Republic of Congo session.

    The addition of the Nguya FLNG vessel is part of the second phase of the Congo LNG project – which began operating in December 2023 – and is expected to increase the project’s production capacity by 2.4 million tons per annum (mtpa).

    “The vessel is currently under construction in China and will allow us to increase production to 3 million tons per year,” Ricco stated.

    As the operator of Congo LNG, Eni has been at the forefront of gas monetization in the Republic of Congo, first with the development of the Centrale Électrique du Congo gas-to-power plant in 2011 and later through the implementation of the Congo LNG project. Ricco explained that “the first phase was completed within 12 months to enable LNG exports, which is remarkably fast.”

    Echoing Ricco’s comments on the speed of FLNG deployment, Marien Ibiaho, Area Sales Manager for Europe & Africa at NOV, emphasized that, “Many LNG projects involve large-scale infrastructure and extensive construction. The advantage of FLNG is that it enables rapid gas monetization. The delivery timeline is fast – less than two years.”

    For the Republic of Congo, FLNG has played a key role in positioning the country as an LNG exporter. Looking ahead, Ricco emphasized the need for continued exploration, greater collaboration and leveraging LNG to further strengthen Congo’s industrial capacity.

    “We must keep exploring, work alongside other operators to maximize value in Congo, and ensure that LNG enhances the country’s industrial growth,” Ricco said. Expanding on his comments, Ibiaho stated, “For FLNG projects to succeed, the approach must be built on partnerships, not just a client-service provider relationship.”

    Dr. Tsoumou-Gavouka Communications and Public Relations Advisor to the Director General, SNPC underscored the importance of partnerships in Congo’s LNG development, suggesting that Eni collaborate with Chinese oil company Wing Wah, which is preparing to launch its own LNG project.

    The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities.

    MIL OSI Africa –

  • MIL-OSI: Amplify Provides Additional Information on Acquisition of Assets from Juniper Capital

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 25, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) today posted a new presentation on its website, providing additional information on its previously announced definitive agreement to acquire Juniper Capital’s upstream Rocky Mountain portfolio companies.

    The presentation, which can be found on the Company’s investor relations page of its website at https://www.amplifyenergy.com/Amplify-Rockies-Transaction-Highlights/, details the expected financial and diversification benefits of the merger and how it is expected to enhance Amplify’s ability to generate long-term shareholder value. Key highlights include:

    • Free cash flow and value accretion:
      • 2025 free cash flow per share projected to increase from $0.50 per share to greater than $0.70 per share1
      • Total proved reserve value projected to increase ~89% from $688 million to $1.3 billion2
    • Greater portfolio flexibility:
      • New Rockies asset base allows Amplify the opportunity to accelerate value creation through portfolio optimization
      • Lower operating cost to improve resiliency of asset base in low or high commodity price environment
    • Organic growth potential:
      • Juniper assets include multi-year inventory of identified, high quality undeveloped drilling locations
      • Proved undeveloped drilling locations adjacent to premier public company operators
    • Meaningful operating synergies:
      • Pro-forma Adjusted EBITDA per BOE expected to increase 40% due to higher oil weighting and lower cost structure3
      • Pro-forma G&A per BOE expected to decrease >20% due to economies of scale4
    • Path to enhance shareholder value:
      • Increased free cash flow and scale, along with expected refinancing, projected to increase liquidity and flexibility
      • Free cash flow provides optionality to reduce leverage and return capital to shareholders

    Amplify also reminds shareholders to vote on the two proposals regarding the merger. The Special Meeting of Shareholders to approve the proposals is scheduled to take place virtually on April 14, 2025, at 9:00 a.m. Central Time. The methods for voting and submitting proxies are described in the distributed proxy materials for the Special Meeting.

    The Board unanimously recommends that shareholders vote “FOR” both proposals. The proposals are critical to the completion of the merger agreement, which the Board has unanimously determined to be in the best interests of the Company and its shareholders.

    Each vote is important, regardless of how many shares owned, and whether or not shareholders expect to attend the Special Meeting. Amplify asks that all shareholders vote as soon as possible “FOR” both proposals, to ensure that their shares are represented at the Special Meeting.

    About Amplify Energy

    Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com. 

    Forward-Looking Statements

    This press release includes “forward-looking statements.” All statements, other than statements of historical fact, included in this press release that addresses activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the Company’s expectations of plans, goals, strategies (including measures to implement strategies), objectives and anticipated results with respect thereto. These statements address activities, events or developments that we expect or anticipate will or may occur in the future, including things such as projections of results of operations, plans for growth, goals, future capital expenditures, competitive strengths, references to future intentions and other such references. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of the Company and its affiliates. Please read the Company’s filings with the Securities and Exchange Commission (the “SEC”), including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

    Cautionary Note on Reserves and Resource Estimates

    The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. Any reserve estimates provided in this press release that are not specifically designated as being estimates of proved reserves may include estimated reserves or locations not necessarily calculated in accordance with, or contemplated by, the SEC’s latest reserve reporting guidelines. You are urged to consider closely the oil and gas disclosures in the Company’s Annual Report on Form 10-K and our other reports and filings with the SEC.

    Important Additional Information Regarding the Mergers Will Be Filed With the SEC.

    In connection with the proposed mergers, the Company has filed a definitive proxy statement. The definitive proxy statement has been sent to the stockholders of record of the Company. The Company may also file other documents with the SEC regarding the mergers. INVESTORS AND SECURITY HOLDERS OF AMPLIFY ARE ADVISED TO CAREFULLY READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS, THE PARTIES TO THE MERGERS AND THE RISKS ASSOCIATED WITH THE MERGERS. Investors and security holders may obtain a free copy of the definitive proxy statement and other relevant documents filed by Amplify with the SEC from the SEC’s website at www.sec.gov. Security holders and other interested parties will also be able to obtain, without charge, a copy of the definitive proxy statement and other relevant documents (when available) by (1) directing your written request to: 500 Dallas Street, Suite 1700, Houston, Texas or (2) contacting our Investor Relations department by telephone at (832) 219-9044 or (832) 219-9051. Copies of the documents filed by the Company with the SEC will be available free of charge on the Company’s website at http://www.amplifyenergy.com.

    Participants in the Solicitation.

    Amplify and certain of its respective directors, executive officers and employees may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of Amplify in connection with the transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, is included in the definitive proxy statement filed with the SEC. Additional information regarding the Company’s directors and executive officers is also included in Amplify’s Notice of Annual Meeting of Stockholders and 2024 Proxy Statement, which was filed with the SEC on April 5, 2024. These documents are available free of charge as described above.

    Footnotes

    1)   Based on Amplify March 5, 2025 guidance and full year 2025 Juniper forecast at flat pricing; (NYMEX WTI, HH) – $71.00, $3.75. Free cash flow is a non-GAAP measure. Amplify believes that a quantitative reconciliation of such forward-looking information to the most comparable financial measure calculated and presented in accordance with GAAP cannot be made available without unreasonable efforts. A reconciliation of this non-GAAP financial measure would require Amplify to predict the timing and likelihood of future transactions and other items that are difficult to accurately predict. This forward-looking measure, or its probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of the most directly comparable forward-looking GAAP measures is not provided.
    2)   2024 Year End reserves are evaluated at flat pricing: (NYMEX WTI, HH) – $70.00, $3.50.
    3)   Based on Amplify 3Q24 reported results, 3Q24 Juniper unaudited results adjusted for G&A synergies (pro-forma G&A excluding synergies equal to $3.38/Boe).
    4)   Based on Amplify G&A per BOE in 3Q24, assuming $1 MM of incremental G&A post-merger and Juniper production in 3Q24.

    Contacts

    Amplify Energy

    Jim Frew — Senior Vice President and Chief Financial Officer
    (832) 219-9044
    jim.frew@amplifyenergy.com 

    Michael Jordan — Director, Finance and Treasurer
    (832) 219-9051
    michael.jordan@amplifyenergy.com

    FTI Consulting

    Tanner Kaufman / Brandon Elliott / Rose Zu
    amplifyenergy@fticonsulting.com

    The MIL Network –

  • MIL-OSI: Evolution Petroleum Announces Upcoming Investor Events

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 25, 2025 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution” or the “Company”) announced today that members of the Company’s management team plan to participate in several upcoming events.

    • Water Tower Research Fireside Chat – March 26, 2025
      Evolution will participate in a virtual fireside chat hosted by Water Tower Research (“WTR”) on Wednesday, March 26, 2025, at 2:00 p.m. CT. The event will feature an in-depth conversation with Company management regarding its pending acquisition of non-operated assets in New Mexico, Texas, and Louisiana and the ongoing development activity in the Chaveroo field and the SCOOP/STACK play along with management’s outlook to build value through the asset acquisition market. This event is open to all investors. Registration for the event is available here. Replays of the webcast will also be available after the event.
    • A.G.P.’s Virtual Energy Conference – April 2, 2025
      Management will host one-on-one meetings with institutional investors during A.G.P.’s Virtual Energy Conference on Wednesday, April 2, 2025. Investors interested in scheduling a meeting should contact their A.G.P. representative or the Company’s investor relations contact listed below.
    • 2025 Louisiana Energy Conference – May 27-29, 2025
      Evolution will participate in the 2025 Louisiana Energy Conference, held in New Orleans, Louisiana, from May 27–29, 2025. Management is scheduled to participate in a panel discussion and conduct one-on-one meetings with attending investment professionals. Additional event details and registration information are available at louisianaenergyconference.com.

    Evolution’s latest investor presentation is available on the “Events & Presentations” page of Evolution’s IR website at ir.evolutionpetroleum.com.

    About Evolution Petroleum

    Evolution Petroleum Corporation is an independent energy company focused on maximizing total shareholder returns through the ownership of and investment in onshore oil and natural gas properties in the U.S. The Company aims to build and maintain a diversified portfolio of long-life oil and natural gas properties through acquisitions, selective development opportunities, production enhancements, and other exploitation efforts. Properties include non-operated interests in the following areas: the SCOOP/STACK plays of the Anadarko Basin in Oklahoma; the Chaveroo Oilfield located in Chaves and Roosevelt Counties, New Mexico; the Jonah Field in Sublette County, Wyoming; the Williston Basin in North Dakota; the Barnett Shale located in North Texas; the Hamilton Dome Field located in Hot Springs County, Wyoming; the Delhi Holt-Bryant Unit in the Delhi Field in Northeast Louisiana; as well as small overriding royalty interests in four onshore Texas wells. Visit www.evolutionpetroleum.com for more information.

    Contact

    Investor Relations
    (713) 935-0122
    ir@evolutionpetroleum.com

    The MIL Network –

  • MIL-OSI Asia-Pac: NATIONAL PEST SURVEILLANCE SYSTEM

    Source: Government of India (2)

    Posted On: 25 MAR 2025 5:07PM by PIB Delhi

    The National Pest Surveillance System (NPSS) has been launched on 15th August, 2024 by the Hon’ble Union Minister of Agriculture and Farmers Welfare to enhance the surveillance and management of pest diseases across the country. The system utilizes latest digital technologies such as Artificial Intelligence and Machine Learning (AI and ML) to provide quick and instant solution regarding pest attacks, crop diseases, crop damages etc. by issuing real time crop protection advisory to the farmers. It includes a user-friendly mobile app and a portal for identification of pests and disease mitigation.

    NPSS is being used by the farmers across the country for identification of  pests and diseases in 61 crops and pest management advisories for 15 major crops namely cotton, paddy, wheat, maize, pigeon pea, moong, soyabean, sugarcane, brinjal, tomato, apple, banana, grapes, pomegranate. NPSS is currently available in four languages namely English, Hindi, Marathi and Punjabi. So far, 10154 pest management advisories have been issued through NPSS for the benefit of farmers.

    The Government has formulated six point strategy for the welfare of farmers and development of agriculture. Strategies for increasing farmer incomes include improving crop productivity, reducing cost of production, agricultural diversification, adaptation to climate change for sustainable agriculture and compensation of farmers’ losses. Further, Ministry has formulated various schemes and programs to ensure effective coordination between the union and state governments and to address agricultural challenges at the grassroot level and also to incentivize and encourage farmers to grow a variety of crops. The list of schemes/ programmes implemented by DA&FW is enclosed at Annexure-I.

    List of Schemes/ Programmes implemented by DA&FW

    1. Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)
    2. Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY)
    3. Pradhan Mantri Fasal Bima Yojana (PMFBY)/ Restructured Weather Based Crop  Insurance Scheme (RWBCIS)
    4. Modified Interest Subvention Scheme (MISS)
    5. Agriculture Infrastructure Fund (AIF)
    6. Formation and Promotion of 10,000 new Farmer Producers Organizations (FPOs)
    7. National Bee Keeping and Honey Mission (NBHM)
    8. Namo Drone Didi
    9. National Mission on Natural Farming (NMNF)
    10.  Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA)
    11.   Agri Fund for Start-Ups & Rural Enterprises’ (AgriSURE)
    12.  Per Drop More Crop (PDMC)
    13.  Sub-Mission on Agriculture Mechanization (SMAM)
    14.  Paramparagat Krishi Vikas Yojana (PKVY)
    15.  Soil Health & Fertility (SH&F)
    16.  Rainfed Area Development (RAD)
    17.  Agroforestry
    18.  Crop Diversification Programme (CDP)
    19.  Sub-Mission on Agriculture Extension (SMAE)
    20.  Sub-Mission on Seed and Planting Material (SMSP)
    21.  National Food Security and Nutrition Mission (NFSNM)
    22.  Integrated Scheme for Agriculture Marketing (ISAM)
    23.  Mission for Integrated Development of Horticulture (MIDH)
    24.  National Mission on Edible Oils (NMEO)-Oil Palm
    25.  National Mission on Edible Oils (NMEO)-Oilseeds
    26.  Mission Organic Value Chain Development for North Eastern Region
    27.  Digital Agriculture Mission
    28.  National Bamboo Mission

    This information was given by Minister of State for Agriculture and Farmer’s Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

    ******

     MG/KSR/RN

    (Release ID: 2114896) Visitor Counter : 68

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: PROGRESS OF DOUBLING THE FARMERS’ INCOME

    Source: Government of India (2)

    Posted On: 25 MAR 2025 5:05PM by PIB Delhi

    Agriculture is a State subject and Government of India supports the efforts of States through appropriate policy measures, budgetary allocation and various schemes/ programmes. The various schemes/ programmes of the Government of India are meant for the welfare of farmers by increasing production, remunerative returns and income support to farmers. The Government has substantially enhanced the budget allocation of Department of Agriculture & Farmers Welfare(DA&FW) from Rs. 21933.50 crore BE during 2013-14 to Rs. 1,22,528.77 crore BE during 2024-25. Major schemes/programmes initiated by DA&FW to increase the income of farmers including small and marginal farmers and for the development of agriculture Sector in India are as under:

    1. Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)

    2. Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY)

    3. Pradhan Mantri Fasal Bima Yojana (PMFBY)/ Restructured Weather Based Crop  Insurance Scheme (RWBCIS)

    4. Modified Interest Subvention Scheme (MISS)

    5. Agriculture Infrastructure Fund (AIF)

    6. Formation and Promotion of 10,000 new Farmer Producers Organizations (FPOs)

    7. National Bee Keeping and Honey Mission (NBHM)

    8. Namo Drone Didi

    9. National Mission on Natural Farming (NMNF)

    10. Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA)

    11. Agri Fund for Start-Ups & Rural Enterprises’ (AgriSURE)

    12. Per Drop More Crop (PDMC)

    13. Sub-Mission on Agriculture Mechanization (SMAM)

    14. Paramparagat Krishi Vikas Yojana (PKVY)

    15. Soil Health & Fertility (SH&F)

    16. Rainfed Area Development (RAD)

    17. Agroforestry

    18. Crop Diversification Programme (CDP)

    19. Sub-Mission on Agriculture Extension (SMAE)

    20. Sub-Mission on Seed and Planting Material (SMSP)

    21. National Food Security and Nutrition Mission (NFSNM)

    22. Integrated Scheme for Agriculture Marketing (ISAM)

    23. Mission for Integrated Development of Horticulture (MIDH)

    24. National Mission on Edible Oils (NMEO)-Oil Palm

    25. National Mission on Edible Oils (NMEO)-Oilseeds

    26. Mission Organic Value Chain Development for North Eastern Region

    27. Digital Agriculture Mission

    28. National Bamboo Mission

    Indian Council on Agricultural Research (ICAR) has released a compilation of success stories of 75,000 farmers who have increased their income more than two times by convergence of schemes being operated by Ministry of Agriculture & Farmers Welfare and the allied Ministries/Departments.

    The National Sample Survey Office (NSSO), Ministry of Statistics and Programme Implementation (MoSPI) conducted a Situation Assessment Survey (SAS) of Agricultural Households during NSS 77th round (January, 2019 – December, 2019) with reference to the agricultural year July, 2018- June, 2019 in the rural areas of the country.

    According to these surveys, the estimated average monthly income per agricultural household increased from ₹6,426 in 2012-13 (NSS 70th round) to ₹10,218 in 2018-19 (NSS 77th round).

    As per NSSO Survey on House hold Consumption Expenditure (2023-24), a comparison of the estimates of all-India average Monthly Per Capita Consumption Expenditure (MPCE) is as under:

    Sector

    Average MPCE (Rs.) over different period

    2011-12 NSS

    (68th round)

    2023-2024

     Rural

    1,430

    4,122

    Urban

    2,630

    6,996

    Difference as % of Rural MPCE

    83.9

    69.7

     

    This information was given by Minister of State for Agriculture and Farmer’s Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

    ******

     MG/KSR/RN

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    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Answer to a written question – Lack of technological neutrality in Commissioner Jørgensen’s updated mission letter – E-000177/2025(ASW)

    Source: European Parliament

    During the confirmatory hearing in the European Parliament on 5 November 2024, the Commissioner for Energy and Housing set out his commitment to work on a renewable energy target for 2040.

    Setting such a target for 2040 would build on the findings of the impact assessment accompanying the recommendation for a 2040 climate target (COM/2024/63 final; SWD/2024/63 final) and establishing that a greater share of renewables is necessary for the EU to meet its climate goals in the more cost-effective manner, while also enhancing energy independence, energy affordability, promoting jobs and supporting economic growth.

    The Commission Communication on the 2040 climate target from February 2024 state that ‘all zero and low carbon energy solutions (including renewables, nuclear, energy efficiency, storage, CCS, CCU, carbon removals, geothermal and hydro-energy, and all other current and future net-zero energy technologies) are necessary to decarbonise the energy system by 2040’[1]. The 2040 Impact Assessment confirms this.

    The Commission respects the Member States’ right to choose their energy mix in line with the Treaties. Member States are free to decide which renewable energy technologies to develop further and the composition of the non-renewable share of their energy consumption.

    • [1] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM%3A2024%3A63%3AFIN
    Last updated: 25 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Ensuring transparent and publicly accessible data on grid costs – E-000476/2025(ASW)

    Source: European Parliament

    Article 6 of the Electricity Directive 2019/944[1] obliges Member States to ensure third-party access to the grids based on published tariffs, applicable to all customers, and that those tariffs and methodologies underlying their calculation are approved by the national regulatory authority and published.

    The article 18 of the Electricity Regulation 2019/943[2] sets out principles for designing network tariffs, and an obligation for the Agency for the Cooperation of Energy Regulators to provide best practice reports on transmission and distribution tariff methodologies.

    Article 18 of the Electricity Directive 2919/944 obliges Member States to ensure that bills and billing information are accurate, clear and easy to understand, and that consumers get feedback on requesting information on these bills.

    Annex 1 gives the minimum requirements for billing information, which includes the price and a breakdown of the price where possible including the energy and supply component, the network component (transmission and distribution) and the taxes and levies.

    Where one energy bill is issued by suppliers, they should provide the breakdown of different costs in their bills. In case customers receive two separate bills (supply and network charges), such costs breakdown is not possible.

    The action plan for Affordable Energy[3], part of the Clean Industrial Deal[4], sets out the measures to lower energy bills for households and businesses.

    To enable consumers to switch to cheaper energy suppliers and benefit from the affordable clean energy, the Commission will propose a Citizen’s Energy Package which will include measures ensuring consumers’ understanding of the bill through clear information and data on the energy consumption and prices.

    • [1] https://eur-lex.europa.eu/eli/dir/2019/944/oj/eng
    • [2] https://eur-lex.europa.eu/eli/reg/2019/943/oj/eng
    • [3] https://energy.ec.europa.eu/strategy/affordable-energy_en
    • [4] https://commission.europa.eu/topics/eu-competitiveness/clean-industrial-deal_en

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – The rising cost of gas-fired power generation: a threat to affordability in the EU – E-000301/2025(ASW)

    Source: European Parliament

    The Commission is fully aware of the recent rise of global gas prices and the challenge this imposes on EU businesses and citizens. It has already taken action to tackle this issue, such as emergency measures[1] adopted during the crisis and the revision of the Electricity Market Design[2] adopted in 2024.

    High gas prices impact electricity costs, whose increase is primarily driven by Europe’s reliance on imported fossil fuels. While rolling out clean energy can help provide cheaper, homegrown power, remaining regulatory and market bottlenecks prevent industries and households from fully capturing the benefits of clean energy in their bills.

    Within the frame of the Competitiveness Compass, the Commission presented the Clean Industrial Deal[3]. Under the Clean Industrial Deal, the action plan for Affordable Energy[4] sets out the measures to address the challenges of energy prices for both households and businesses.

    These measures aim at fostering energy efficiency and renewable energy deployment, accelerating permitting, grids, boosting storage and reducing systems costs. These efforts will help bring down energy costs and so support industry and households.

    • [1] https://eur-lex.europa.eu/eli/reg/2022/1854/oj/eng
    • [2] https://eur-lex.europa.eu/eli/reg/2024/1747/oj/eng; https://eur-lex.europa.eu/eli/dir/2024/1760/oj/eng
    • [3] https://commission.europa.eu/topics/eu-competitiveness/clean-industrial-deal_en
    • [4] https://energy.ec.europa.eu/strategy/affordable-energy_en
    Last updated: 25 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Trump dishes out threats before even taking office – E-000115/2025(ASW)

    Source: European Parliament

    As each other’s largest trading and investment partners, the EU and the United States (US) share a very robust and deeply interwoven economic relationship. The EU remains committed to fostering a stable, balanced and predictable trade partnership, while expanding cooperation in key areas such as critical supply chains and emerging technologies. The EU looks forward to working closely with the new US administration in order to tackle pressing global challenges.

    Open markets and respect for international trade rules are essential for strong and sustainable economic growth. Thanks to a common trade policy, including different autonomous measures, the EU will be unified and firm in its response to any unfair or arbitrary imposition of tariffs or other trade measures on EU goods. The EU will stand by its principles to protect the EU’s interests.

    The EU is resolute in its ambition to build a resilient, sovereign Europe capable of addressing current and future challenges, including the green and digital transitions. In recent years, the EU has accelerated the rollout of renewable energy and energy efficiency solutions that are increasing the EU’s energy independence.

    The EU has also diversified its supply of gas, including through Liquefied Natural Gas (LNG). The US currently provides 45% of EU LNG and 17% of total gas imports. There is room for additional LNG imports in the EU from diverse origins. The Commission will publish a plan in March 2025, which will set out a roadmap to complete the REPowerEU[1] objective and phase out remaining Russian gas in the EU by 2027.

    • [1] https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal/repowereu-affordable-secure-and-sustainable-energy-europe_en
    Last updated: 25 March 2025

    MIL OSI Europe News –

  • MIL-OSI Africa: Congo Energy & Investment Forum (CEIF) 2025: Congo Offers Attractive Tax Policies for Oil & Gas (O&G) Investors

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

    BRAZZAVILLE, Congo (Republic of the), March 25, 2025/APO Group/ —

    The Republic of Congo’s Ministry of Hydrocarbons has announced it is working to improve the attractiveness of taxation in the hydrocarbons sector to fully realize the potential of the country’s hydrocarbons market.

    Speaking during the Technical Conference at the inaugural Congo Energy & Investment Forum (CEIF) – From Resources to Revenue: Developing the Republic of Congo’s Gas Sector – Jean-Jacques Ikama, Director General of Oil Economy, Audit and Trading, Ministry of Hydrocarbons, Congo explored the conditions and mechanisms for companies entering the country’s oil and gas sector.

    “Oil and gas activities can serve as a basis for the creation and operationalization of a very dynamic local market,” stated Ikama, adding, “We aim to redefine the hydrocarbons sector in our country and improve the conditions of exploration and production.”

    In addition to good taxation conditions and guaranteed frameworks, Congo has taken proactive steps to enhance its energy sector’s appeal to investors. The government will launch a new licensing round at CEIF, targeting accelerated oil and gas exploration and production activities.

    Meanwhile, Congo’s parastatal Société Nationale des Pétroles du Congo is set to release its Gas Master Plan at CEIF 2025. The plan aims to advance the country’s gas monetization agenda by catalyzing new infrastructure development, including gas pipelines, processing facilities and gas-to-power plants. The plan also seeks to reduce energy imports and raise electricity access, which currently stands at 50%.

    A new Gas Code, expected in 2025, will provide a clear legislative framework for gas monetization, fiscal terms and resource management. The draft was presented to gas companies in late 2023 and is set for final approval in the coming months.

    Key gas monetization initiatives in the country include energy major Eni’s Congo LNG project and Chinese developer Wing Wah’s Banga Kayo project. These projects highlight the country’s dedication to advancing its energy infrastructure and diversifying revenue streams within the sector.

    These efforts positions Congo as an increasingly competitive and attractive destination for global energy investments.

    MIL OSI Africa –

  • MIL-OSI USA: Citing Potential Tsunami of Medicaid Cuts, Cantwell to Vote Against Advancing Dr. Oz: “I Cannot Support This Nomination”

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    03.25.25
    Citing Potential Tsunami of Medicaid Cuts, Cantwell to Vote Against Advancing Dr. Oz: “I Cannot Support This Nomination”
    Trump nominated Dr. Mehmet Oz to oversee Medicare and Medicaid as GOP pushes spending bill that would necessitate slashing Medicaid; Cantwell: “My colleagues who are trying to play down this threat […] it’s either bad math or bad faith.”; In tour across WA last week, Cantwell heard from patients & providers who would be devastated by Medicaid cuts
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, said she’ll vote against advancing Dr. Mehmet Oz – Trump’s nominee for Administrator of the Centers for Medicare and Medicaid Services – to the full Senate for a final confirmation vote.
    During a markup today of the Senate Finance Committee, Sen. Cantwell cited Dr. Oz’s refusal to stick up for Medicaid during his hearing earlier this month, especially in the face of a draconian GOP budget bill that would necessitate massive cuts. The committee vote is scheduled for later today at 2:15 p.m. ET/11:15 a.m. PT.
    “He wouldn’t commit. He would not say no, and certainly not no to President Trump, or Elon Musk, or to the House of Representatives. The House committee that oversees Medicaid and Medicare is responsible for finding $880 billion from these cuts,” Sen. Cantwell said. “The only real place to get this is, particularly if Medicare is off the table, is from Medicaid. Even if the Committee completely eliminated every single other program in the E&C account, it still gives them one-sixth of what they need.
    “So make no mistake, there is no other way to meet this mandate [than] to impact Medicaid. My colleagues who are trying to play down this threat, or act like there’s some other way around it –it’s just not so. It’s either bad math or bad faith.”
    Last week, Sen. Cantwell heard from voices across Washington state about the dangers of President Trump and the GOP’s proposed cuts to Medicaid. Doctors, patients, and health care providers in Seattle, Spokane, and the Tri-Cities warned that such cuts would devastate Washington state’s health care system and limit access to lifesaving care.
              WATCH:
              FOX 13 Seattle: WA health leaders join Sen. Cantwell against proposed Medicaid cuts
              KREM 2 Spokane: Spokane doctors, patients speak at Medicaid roundtable hosted by Sen. Cantwell
              KAPP 35 Tri-Cities: MARIA CANTWELL: How proposed cuts to Medicaid could impact South Central Washington
    Sen. Cantwell concluded her remarks today by calling on her colleagues to join her in defending Medicaid.
    “So, with this tsunami of cuts that we’re looking at, I cannot support this nomination. I hope my colleagues will turn it down as well,” Sen. Cantwell said.
    Last month, Sen. Cantwell released a snapshot report highlighting the impact that slashing Medicaid to fund tax cuts for corporations and the ultra-wealthy would have on Washington state’s health care system — especially in Central and Eastern Washington. Sen. Cantwell released a second snapshot report highlighting impacts on the Seattle-area health care delivery system.
    READ MORE:
    The Seattle Times: Cuts to Medicaid would hurt WA’s children, poor
    The Spokesman Review: Medicaid could be on chopping block after Northwest Republicans help pass House budget measure
    The Tri-City Herald: Newhouse backs House GOP budget plan that could lead to cuts for Tri-Cities Medicaid users
    Medicaid is the federal program that insures many low-income adults and children, pregnant people, seniors, and people with disabilities. Washington state’s Medicaid program, Apple Health, ensures that eligible Washingtonians can afford to seek health care and see providers when they need to. The program also ensures that hospitals — which are required to treat everyone, regardless of their ability to pay — receive reimbursements for the significant number of low-income people they serve. Over 1.9 million Washingtonians are enrolled in Apple Health.
    Late last month, the House of Representatives passed a funding bill that would necessitate $880 billion in cuts from the House Energy and Commerce Committee, which has jurisdiction over Medicaid. Supporters of the bill claim that the text includes no mention of Medicaid — however, the extent of the cuts required by the legislation would mean that the committee has essentially no other options other than to hack away at Medicaid.
    Video of Sen. Cantwell’s remarks today are available HERE, audio HERE, and a full transcript is HERE.

    MIL OSI USA News –