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Category: Energy

  • MIL-OSI Economics: Samsung’s SmartThings Flex Connect Expands Reach to Maximize Energy Savings and Rewards

    Source: Samsung

    SmartThings, Samsung’s global connected living platform, today announces the expansion of its Flex Connect program with Leap into PJM Interconnection LLC (PJM). Originally launched to California and New York in July 2024, the program saw rapid success, prompting Samsung to expand access to Texas in December 2024, and now to PJM in early March. This expansion to the largest wholesale electricity market in the U.S. enables more consumers to access energy-saving opportunities, reinforcing SmartThings’ commitment to providing user choice and sustainable solutions.
    With the expanded reach of Flex Connect, SmartThings users across the Mid-Atlantic and greater Chicago now have greater access to participate in demand response (DR) events that help stabilize the energy grid while lowering their energy costs. Consumers can automate their smart home devices—including thermostats, plugs, air conditioners, lights, TVs, and appliances—to participate in energy-saving initiatives effortlessly, maximizing their savings without sacrificing comfort.

    Enhancing Consumer Choice with the Largest Smart Home Ecosystem
    SmartThings offers the largest ecosystem of connected devices, giving consumers unparalleled flexibility in how they can engage with DR programs. Unlike traditional DR initiatives with limited device compatibility, Flex Connect allows a broad range of smart devices to integrate seamlessly, ensuring users can participate in a way that best suits their home setup.
    Eligible users can enroll supported devices through SmartThings Energy, a service within the SmartThings app, and select their preferred automation settings. When the grid is under stress, enrolled devices will automatically adjust energy consumption, helping consumers reduce their usage while maintaining comfort. Users who do not own supported devices can still participate by receiving energy-saving tips and taking manual actions to conserve energy.

    Transforming the Demand Response Experience
    Historically, DR programs required significant manual intervention and offered limited device compatibility. With SmartThings Energy, Samsung has unlocked whole-home DR participation by providing seamless automation, energy usage insights, and AI-powered energy management.
    Flex Connect allows users to:
    Earn Rewards – Enrolled users receive $50 in Samsung Rewards Points for participating in energy-saving events, making sustainability financially beneficial to users.
    Automate Energy Savings – SmartThings devices intelligently adjust energy use based on grid demand, efficiently saving users energy without compromising convenience.
    Customize Their Experience – Consumers have full control over which devices participate and how they respond to DR events, reinforcing SmartThings’ core mission of user empowerment.

    Empowering Consumers and Strengthening the Grid
    Grid pressures are projected to continue to intensify across the U.S., with the North American Electric Reliability Corporation projecting a 15% increase in summer peak demand and an 18% increase in winter peak demand over the next decade. With the Flex Connect program now supporting 32% of the U.S. population, according to U.S. Census data, Samsung is now a vital player in managing the increased energy demand–and at a crucial time, when energy demand is rising, supply is constrained, electricity prices are increasing for customers, and grid stability is threatened.
    “With SmartThings, we’re giving consumers the power to choose how they engage with their energy use while contributing to a more sustainable future,” said Chanwoo Park, Executive Vice President of B2B Integrated Offering Center at Samsung Electronics. “Expanding Flex Connect with Leap in the Mid-Atlantic and Chicago regions means more users can experience the benefits of automation, energy savings, and financial incentives—all while supporting a more resilient grid.”

    SmartThings remains at the forefront of innovation, creating new opportunities for consumers to participate in demand response programs effortlessly. Programs like Flex Connect are vital in managing the increased energy demand while providing financial and environmental benefits. The Flex Connect expansion marks a significant step toward a smarter, more efficient, and consumer-driven energy future.
    For more information, please visit www.smartthings.com.

    MIL OSI Economics –

  • MIL-OSI USA: Natural gas pipeline project completions increase takeaway capacity in producing regions

    Source: US Energy Information Administration

    In-brief analysis

    March 17, 2025

    Data source: U.S. Energy Information Administration, U.S. Natural Gas Pipeline Projects tracker
    Note: Map includes pipeline projects of more than 0.8 billion cubic feet per day (Bcf/d) of capacity completed in 2024 except the Louisiana Energy Access Project (LEAP) Phase 3, which added 0.2 Bcf/d in 2024 and increased operating capacity of the pipeline to 1.9 Bcf/d. LNG=liquefied natural gas

    Natural gas pipeline projects completed in 2024 increased takeaway capacity by approximately 6.5 billion cubic feet per day (Bcf/d) in the U.S. natural gas-producing Appalachia, Haynesville, Permian, and Eagle Ford regions, according to our latest Natural Gas Pipeline Projects tracker. These pipelines deliver natural gas from the producing regions to demand centers in the mid-Atlantic and along the U.S. Gulf Coast:

    • Mountain Valley Pipeline
      The Mountain Valley Pipeline, operated by Equitrans Midstream Corporation, can move up to 2.0 Bcf/d of Appalachian Basin production from Wetzel, West Virginia, to an interconnect with the Transcontinental Gas Pipe Line Company (Transco) in Pittsylvania, Virginia.
    • Regional Energy Access Project
      Transco’s Regional Energy Access project with capacity of a little more than 0.8 Bcf/d was an expansion of existing Transco infrastructure between Luzerne County, Pennsylvania, and Middlesex County, New Jersey.
    • Louisiana Energy Access Project (LEAP) Phase 3
      DT Midstream’s LEAP Phase 3 project expanded the existing LEAP pipeline by 0.2 Bcf/d. As of June 2024, LEAP can transport 1.9 Bcf/d of natural gas from the Haynesville region to Gulf Coast markets via interconnections with other pipelines at the Gillis Hub near Ragley, Louisiana.
    • Matterhorn Express Pipeline
      The Matterhorn Express Pipeline, operated by Whitewater Midstream, can deliver up to 2.5 Bcf/d of natural gas from the Permian Basin to the Katy, Texas, area.
    • Verde Pipeline
      Pecan Pipeline Company’s Verde Pipeline can move up to 1.0 Bcf/d of producer EOG Resources’ natural gas production from Webb County, Texas, in the Eagle Ford producing region to the Agua Dulce hub in southern Texas.

    Another five pipeline projects completed last year in Texas and Louisiana increased capacity to deliver natural gas to liquefied natural gas (LNG) export terminals by approximately 8.5 Bcf/d:

    • ADCC Pipeline
      The ADCC Pipeline, operated by Whitewater Midstream, can move approximately 1.7 Bcf/d of natural gas to the Corpus Christi Stage 3 LNG project, co-located with the existing Corpus Christi LNG terminal, in South Texas.
    • Gillis Access
      TC Energy’s 1.5-Bcf/d Gillis Access project connects with other pipelines at the Gillis Hub and can transport natural gas from the Haynesville region to LNG export terminals along the Gulf Coast.
    • Gator Express Phase 1 & 2
      Venture Global Gator Express’s Gator Express Pipeline consists of two pipeline segments that can deliver approximately 2.0 Bcf/d each of natural gas from pipeline interconnections to the Plaquemines LNG export terminal located about 20 miles south of New Orleans, Louisiana.
    • Venice Extension Project
      Texas Eastern Transmission’s Venice Extension Project can move up to 1.3 Bcf/d of natural gas to the Plaquemines LNG export terminal.

    A handful of other relatively small interstate and intrastate pipeline projects (less than 0.8 Bcf/d of capacity each) added another almost 3.0 Bcf/d combined of natural gas pipeline capacity for a total of 17.8 Bcf/d in new capacity in 2024. We consider interstate pipelines to be those that cross state borders and those that serve export demand—both at pipeline border crossings and at LNG export terminals. Intrastate pipelines do not cross state borders.

    Interstate project capacity additions outpaced intrastate additions, and total pipeline capacity additions surpassed the previous year’s additions for the second year in a row.

    Principal contributor: Katy Fleury

    MIL OSI USA News –

  • MIL-OSI Africa: The U.S.-Africa Energy Forum (USAEF) Partners with African Energy Chamber, African Energy Week 2025

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

    CAPE TOWN, South Africa, March 17, 2025/APO Group/ —

    The U.S.-Africa Energy Forum (USAEF) is proud to announce its strategic partnership with the African Energy Chamber (AEC) and African Energy Week (AEW): Invest in African Energies. This collaboration strengthens USAEF’s mission to connect U.S. investors with Africa’s most promising energy opportunities, facilitating high-value engagements between American stakeholders and African energy leaders.

    Taking place in Houston, Texas, on August 6-7, 2025, USAEF serves as the leading platform for fostering U.S.-Africa energy investment, offering direct access to key markets and project opportunities across the continent. Its partnership with the AEC and AEW ensures that U.S. investors not only gain critical market insights, but also establish meaningful connections that will be further developed at the AEW: Invest in African Energies conference in Cape Town on September 29-October 3, 2025.

    USAEF provides American investors with a direct gateway into Africa’s energy sector, featuring high-profile discussions on licensing rounds, LNG developments, deepwater exploration and large-scale renewable projects. With Africa’s energy sector witnessing record-breaking capital expenditure – projected at $43 billion in 2025 – this collaboration ensures that U.S. companies can tap into the continent’s expanding oil, gas and renewables industries.

    “Africa’s energy sector is primed for investment and we’re excited to partner with the U.S.-Africa Energy Forum to connect American investors with the continent’s most promising energy opportunities. This partnership will help drive capital flows into Africa’s energy sector, supporting not only economic growth but also energy access and sustainable development,” notes NJ Ayuk, Executive Chairman, African Energy Chamber

    As global energy strategies evolve, recent shifts in U.S. policy reflect a more balanced approach to fossil fuel investments, recognizing the critical role of natural gas and oil in securing global energy stability. USAEF provides a timely opportunity for U.S. investors to navigate this evolving landscape while aligning with Africa’s energy priorities. Through curated investor roundtables, private equity sessions and ministerial discussions, USAEF will position U.S. companies at the forefront of Africa’s energy growth. With AEW serving as Africa’s premier energy investment platform, USAEF acts as a strategic prelude, ensuring U.S. stakeholders are equipped with the insights, relationships and opportunities needed to maximize their impact on the continent.

    “Africa presents an unparalleled opportunity for American investors seeking access to high-growth energy markets. By partnering with the AEC and AEW, USAEF strengthens its role as the premier U.S. platform for connecting capital with Africa’s energy potential. This partnership creates a seamless bridge from Houston to Cape Town, enabling U.S. stakeholders to engage in substantive dealmaking at AEW,” says James Chester, CEO of Energy Capital & Power.

    For tickets, sponsorship opportunities and more information, please contact sales@energycapitalpower.com. Join us in Houston this August to connect with the leaders shaping Africa’s energy landscape and experience the momentum that drives ECP’s events worldwide.

    MIL OSI Africa –

  • MIL-OSI Security: Former Baltimore City Council Candidate Convicted of Bank Fraud and False Statements in Connection with Scheme to Obtain Nearly $1.7 Million in Economic Injury Disaster Loans and Paycheck Protection Program Loans

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Henson used the fraudulently obtained funds for cosmetic surgery, extensive renovations to her home and the home of a family member, funding new business adventures—including a used car dealership that never opened—and a cryptocurrency she had created.

    Baltimore, Maryland – After a one-week trial, a federal jury found Nichelle Henson, age 38, of Baltimore, Maryland, guilty of making false statements and for bank fraud in connection with fraudulent applications Henson filed to obtain Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program (PPP) loans in the names of multiple purported businesses that she had previously incorporated in the state of Maryland.  

    The trial conviction was announced by United States Attorney for the District of Maryland Kelly O. Hayes; Special Agent in Charge William J. DelBagno of the Federal Bureau of Investigation, Baltimore Field Office; and Brian D. Miller, Special Inspector General for Pandemic Recovery (SIGPR).

    According to the evidence presented at trial, Henson incorporated several businesses with the State of Maryland, including Crowns Construction, LLC; Nichelle Henson Campaign, LLC; One Stop for Services, LLC; Your Friendly Tax Preparation Services, LLC; Women Entrepreneurs Can Succeed, LLC, and Peace of Mind Services, Inc.  The Defendant opened bank accounts in the names of some of her businesses and obtained Tax Identification Numbers (TINs) from the Internal Revenue Service (IRS) for the businesses.

    In 2020 and 2021, she submitted six fraudulent EIDL applications to the SBA for her various businesses that contained false information concerning each business’s gross receipts, costs of goods sold, and number of employees.  At the time of the submissions, none of the businesses were operating, and none of the businesses had any employees.  As a result of the applications, Henson received $18,000 in United States Treasury funds from the SBA.  

    Financial assistance offered through the CARES Act included forgivable loans to small businesses for job retention and certain other expenses, through the PPP, administered through the Small Business Administration (SBA).  The SBA also offered an EIDL and/or an EIDL advance to help businesses meet their financial obligations.  An EIDL advance did not have to be repaid, and small businesses could receive an advance, even if they were not approved for an EIDL loan. The maximum advance amount was $10,000.

    During this same period, Henson submitted 12 fraudulent PPP loan applications to three SBA-approved lenders for her various purported businesses.  Each of these applications contained false information about each business’s number of employees and average monthly payroll, and each was supported by purported IRS tax forms listing employees and wages that were, in fact, never filed with the IRS. 

    Between April 30, 2020 and June 29, 2020, Henson submitted six PPP applications for her various businesses.  One of these businesses was called Nichelle Henson Campaign (the “Campaign”), an entity that was meant to fund Henson’s run for Baltimore City Council.  However, at the time of the submission of the application for the Campaign on May 10, 2020, Henson had withdrawn her candidacy – approximately six months earlier, on November 19, 2019.

    Another entity was called Crowns Construction, a purported construction business located in Baltimore City.  This business did not exist in any capacity, and the address used on the PPP loan application was nothing more than a vacant lot.  In support of the application for this business, Henson included a fabricated Baltimore Gas & Electric that purported to be for Crowns Construction but was in fact a bill belonging to a neighbor of Henson’s that she had scanned and then doctored using a PDF editing tool.  

    Henson ultimately obtained $998,590 as a result of these six fraudulent applications. On January 19, 2021, Henson submitted six more fraudulent PPP loan applications—this time to M&T Bank—for each of her six purported businesses.  Each of these applications contained lies about the existence of each business, the number of their employees, and payroll paid.  And each application was supported by fabricated tax documents never filed with the IRS.  M&T funded five of the six loans, transferring $676,250 in PPP funds to Henson. Shortly thereafter Henson went to an M&T branch in Baltimore and withdrew $5,000 cash from each of her five M&T accounts where the PPP funds flowed.  M&T thereafter froze Henson’s accounts and notified law enforcement about the suspected fraud.

    Henson used the EIDL and PPP loan funds to support businesses other than the borrowers, such as Wyse Rides, a used car business Henson attempted to open in Dundalk, Maryland.  The business never opened. Henson used the PPP funds she received in multiple ways impermissible under the PPP, including for cosmetic surgery, for extensive renovations to her home and a family member’s home, to pay a year’s rent for her personal home, to pay a year’s rent for a new business venture, and to fund other new business ventures, including a used car dealership—which never opened—and to create a cryptocurrency called Subina Coin and, relatedly, to fund an entity called the “Adageyhdi Indian Nation.”

    In total, Henson obtained $1,694,451 in connection with her scheme to defraud.  

    Henson faces a maximum possible sentence of 30 years in federal prison for each count of Bank Fraud, and a maximum possible sentence of 5 years in prison for each count of False Statements.  U.S. District Judge Matthew J. Maddox has scheduled sentencing for August 5, 2025 at 10:00 a.m.  She will be required to pay restitution to the SBA and the victim financial institutions.  

    The District of Maryland Strike Force is one of five strike forces established throughout the United States by the U.S. Department of Justice to investigate and prosecute COVID-19 fraud, including fraud relating to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act.  The CARES Act was designed to provide emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic.  The strike forces focus on large-scale, multi-state pandemic relief fraud perpetrated by criminal organizations and transnational actors.  The strike forces are interagency law enforcement efforts, using prosecutor-led and data analyst-driven teams designed to identify and bring to justice those who stole pandemic relief funds. 

    For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.  Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form. 

    United States Attorney Kelly O. Hayes commended the FBI and the Office of the Special Inspector General for Pandemic Recovery, which conducted the investigation on behalf of the Pandemic Response Accountability Committee (PRAC) Fraud Task Force, for their work in the investigation. Ms. Hayes thanked Assistant U.S. Attorneys Paul Riley and Joseph Wenner, who are prosecuting the federal case, and Paralegal Specialist Julie Jarman. 

    For more information on the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, please visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

    # # #

    MIL Security OSI –

  • MIL-OSI: BigCommerce Transforms Commerce Beyond Order Capture with Pipe17 Partnership

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, March 17, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), a leading provider of open, composable commerce solutions for B2C and B2B brands, retailers, manufacturers and distributors today announced a transformational partnership with Pipe17, a leading provider of AI-powered composable order operations. This partnership reimagines how modern merchants manage orders in an increasingly complex digital commerce ecosystem.

    BigCommerce empowers brands, retailers, manufacturers and distributors of all sizes to sell online and capture orders seamlessly. Feedonomics, BigCommerce’s AI-powered product data feed management and order orchestration solution, helps brands list, manage and optimize product, inventory, pricing and order data across third-party channels, from ads, to social commerce, to marketplaces. The next frontier of commerce lies in the back office—turning captured orders into packages on consumers’ doorsteps or trucks on businesses’ loading docks.

    Today’s customers expect to shop anywhere—through merchant-owned channels like their brand websites and mobile apps, marketplaces like Amazon and Walmart, social platforms like TikTok and Instagram, and increasingly AI agents. They also demand instant delivery and flawless order fulfillment, pushing brands to expand their fulfillment infrastructure with additional warehouses, third-party logistics (3PL) partnerships, generous returns policies and new technology.

    As selling channels proliferate and fulfillment infrastructure grows in both size and complexity, problems rapidly shift to the back office—specifically order management. Merchants struggle to route orders and ensure order-related data is perfectly synchronized between selling channels, 3PLs, warehouse management systems (WMSs), customer service and back-office systems of record such as an ERP, and any one of dozens or hundreds of systems that touch order and order-adjacent data.

    Pipe17’s order operations network transforms the way orders, inventory and data flow through the modern commerce landscape. Unlike outdated and monolithic order management systems (OMSs) that attempt to be the center of every integration, Pipe17 is built atop an AI-powered network composed of hundreds of endpoints. In partnership with BigCommerce, this dynamic, scalable, and composable approach gives merchants unmatched flexibility and control of their connectivity, product listings, order routing and order-related data flows.

    With this partnership, merchants on the BigCommerce platform, as well as Feedonomics customers on any platform, can leverage Pipe17’s connectivity network to extend their coverage across critical fulfillment endpoints.

    “Order Management is ripe for disruption, and Pipe17 delivers a game-changing solution with its innovative order operations platform,” said Travis Hess, CEO of BigCommerce. “BigCommerce has always made it easy for merchants to capture orders, and Feedonomics helps merchants sell everywhere their customers shop, and by partnering with Pipe17, we can now ensure those orders from both owned channels and third-party channels move smoothly through our customers’ fulfillment infrastructure and back-office setup, ensuring a seamless flow through the delivery process.”

    “Commerce is all about delivering great customer experiences,” said Mo Afshar, CEO of Pipe17. “We’re proud to partner with BigCommerce to help merchants unify their commerce operations and stay ahead of the evolving digital commerce landscape. Together, with BigCommerce’s world-class API-first open commerce platform, product data management and order capture solutions and Pipe17’s order operations network that delivers the order management capabilities merchants need without the bloated OMS they despise, we’re enabling sellers to create better, more intelligent and further reaching customer experiences.”

    “We saw during the height of the Covid pandemic, and beyond, the importance of accurately managing orders and fulfillment across multiple sales channels,” said James Grandefeld, Chief Operating Officer at Bona Fide Masks, “Our partnership with both of these great platforms lets us provide best in class service to our valued customers. We are excited about the partnership and what it means for us.”

    To learn more about BigCommerce’s partnership with Pipe17, visit the company’s booth (#1944) at Shoptalk, March 25-27, 2025.

    About BigCommerce
    BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands, retailers, manufacturers and distributors of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated professional-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

    About Feedonomics
    Feedonomics is the leading data management platform powering omnichannel growth for the world’s top brands and retailers. With its flexible technology and full-service support team, Feedonomics facilitates a variety of data and order management use cases across industries such as ecommerce, automotive, employment, travel, real estate, and more. Feedonomics has thousands of active customers, integrations with hundreds of ecommerce platforms and channels, and strategic partnerships with industry leaders like Amazon, Meta, Google, Microsoft and TikTok. To learn more about Feedonomics, a platform-agnostic BigCommerce subsidiary, visit www.feedonomics.com. For more information, please visit www.feedonomics.com or follow us on Twitter, LinkedIn, Instagram and Facebook.

    About Pipe17
    Pipe17 Inc. provides AI-Powered Order Operations solutions for modern merchants and fulfillment service providers. Based in Seattle, Pipe17 is the fastest and easiest way to make omnichannel order flows touchless and cost-efficient, from order to inventory to fulfillment across DTC, B2B, and Retail. Pipe17 is the only ecommerce order operations solution that combines rapid deployment, seamless orders-to-anywhere automation, real-time visibility, and elastic scale. Learn more at https://Pipe17.com or follow us on LinkedIn.

    Media contacts:
    For BigCommerce and Feedonomics
    Brad Hem
    pr@bigcommerce.com

    For Pipe17,
    Jon Gettinger
    jon.gettinger@pipe17.com

    The MIL Network –

  • MIL-OSI United Kingdom: British Embassy Zagreb invites bids for Impact Fund 2025 to 2026

    Source: United Kingdom – Executive Government & Departments

    World news story

    British Embassy Zagreb invites bids for Impact Fund 2025 to 2026

    British Embassy Zagreb invites organisations to submit proposals by 14 April 2025 for projects demonstrating impact in areas of strengthening inter-community relations in Southeast Europe.

    The British Embassy in Zagreb is inviting organisations to submit project proposals for funding from our Impact Fund. As the name suggests, the purpose of the fund is to achieve impact, so we’re looking for projects that make a real difference in the highlighted priority areas. Project proposals which strengthen and nurture relationships between Croatian and UK people and organisations are particularly welcome.

    Themes

    This year, the call will focus on organisations, projects and activities, which link to the following thematic areas:

    Regional stability and development: connecting and strengthening societies in Southeast Europe

    Projects which promote harmonious and constructive relations between communities within Croatia, and between communities in Croatia and its neighbours, to enable stability, European integration and socio-economic advancement in the context of global and domestic challenges. We will prioritise projects in the following areas: 

    • strengthening inter-community understanding, tolerance and constructive cooperation, both domestically and cross-border within Southeast Europe
    • defending against threats to inter-community relations in Southeast Europe, e.g. countering hate speech, historic distortion, and disinformation; supporting a healthy media landscape; and promoting factual, inclusive public discourse and narratives
    • empowering women and girls, enhancing female civic participation and equality, contributing to prosperity and security in the region

    Special emphasis should be placed on activities which generate change, with wider and lasting social impact.

    Innovation for growth: building and nurturing UK-Croatia research & innovation, science, technology, and business partnerships.

    Projects which nurture long-term research & innovation, science, technology, and business partnerships, with a special emphasis on fostering economic growth and UK-Croatia cooperation. We will prioritise projects in the following areas: 

    • establishing new partnerships between researchers, businesses and institutions in the UK and Croatia. In particular, large-scale UK-Croatia collaboration between researchers and organisations within Horizon Europe and other programmes (note: while we cannot directly fund research covered by these other programmes, but we can support establishing the research connections)

    • projects focused on policy and regulation, exchanging knowledge and best practice and other activities which promote and support research (this excludes direct funding) relating to AI, quantum technologies, high-performance computing, nuclear fusion, semiconductors, Health tech and engineering biology. Including values-based governance and regulation of new and emerging technologies, especially AI

    • building expertise on the commercialisation of innovation, connecting Croatian companies to venture capitals and tech ecosystems, and enabling the UK and Croatian business partnerships

    • addressing barriers to market access between the UK and Croatia (e.g. policy, implementation of regulations)

    Energy and climate: promoting green growth and energy transition  

    Projects which promote green and sustainable growth, support the transition to clean energy sources such as offshore wind, hydrogen and nuclear, and deeper UK-Croatia cooperation. Also, projects that tackle the climate crisis and mitigate its impacts, as well as tackling and reversing bio-diversity loss will be considered for funding. We will prioritise projects in the following areas: 

    • establishing UK-Croatia commercial and scientific partnerships in the development of net zero technologies, with focus on hydrogen and nuclear fission and fusion (e.g. joint initiatives, building partnerships within Horizon Europe, exchange programmes between the UK and Croatian institutions)
    • establishing UK-Croatia commercial and scientific partnerships in energy efficiency and storage, emission reduction, and accelerating to achieving net zero
    • establishing UK-Croatia commercial and scientific partnerships in tackling the climate crisis, mitigating its impacts by strengthening social, economic and ecological resilience, unlocking climate and nature finance

    Activity bid guidance

    The British Embassy will support projects with activities taking place between 20 June 2025 and 15 February 2026, with no expectation of continued funding beyond the stated period.

    Maximum project budget limit: 11,500 Euros.

    Project bids will be assessed against the following criteria:

    • alignment with thematic priorities and likelihood of achieving a real-world impact
    • outcomes that are achievable within the funding period and offer value for money
    • activity design that includes clear evaluation procedures and measures of impact
    • activity design that includes risk and financial accountability procedures
    • that the organisation’s safeguarding policies ensure protection of beneficiaries, especially vulnerable individuals and children

    Bidding process

    1. proposals must be submitted using the online application form.
    2. all proposals must be received by 12:00 pm on 14 April 2025. Late proposals will not be considered
    3. successful bidders will be notified by the end of May

    Transparency and further questions

    The British Embassy in Zagreb will organise an online question and answer session about the bidding process on Wednesday 26 March 2025 at 2pm (CET). You can join the live session using this link.

    Additional information and documentation

    All project implementers will be expected to sign a standard contract or grant agreement with the Embassy provided by the UK Foreign, Commonwealth & Development Office (FCDO).

    The terms of the contract or agreement are not negotiable.

    All projects are expected to have achieved 85% spend by end of December 2025. Proposed budgets must reflect this requirement.

    Updates to this page

    Published 17 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Index Numbers of Wholesale Price in India for the Month of February, 2025 (Base Year: 2011-12)

    Source: Government of India (2)

    Posted On: 17 MAR 2025 12:00PM by PIB Delhi

    The annual rate of inflation based on all India Wholesale Price Index (WPI) number is2.38% (provisional) for the month of February, 2025(over February, 2024). Positive rate of inflation in February, 2025 is primarily due to increase in prices of manufacture of food products, food articles, other manufacturing, non-food articles and manufacture of textiles etc.The index numbers and inflation rate for the last three months of all commodities and WPI components are given below:

    Index Numbers and Annual Rate of Inflation (Y-o-Y in %)*

    All Commodities/Major Groups

    Weight (%)

    December-24 (F)

    January-25 (P)

    February-25 (P)

    Index

    Inflation

    Index

    Inflation

    Index

    Inflation

    All Commodities

    100.00

    155.7

    2.57

    154.7

    2.31

    154.8

    2.38

    I. Primary Articles

    22.62

    193.8

    6.02

    189.9

    4.69

    186.6

    2.81

    II. Fuel & Power

    13.15

    151.8

    -2.57

    150.6

    -2.78

    153.8

    -0.71

    III. Manufactured Products

    64.23

    143.0

    2.14

    143.2

    2.51

    143.8

    2.86

    Food Index

    24.38

    196.0

    8.95

    191.4

    7.47

    189.0

    5.94

    Note: F: Final,P: Provisional, *Annual rate of WPI inflation calculated over the corresponding month of previous year

     

    The month over month change in WPI for the month of February, 2025 stood at 0.06% as compared to January, 2025. The monthly change in WPI for last six-month is summarized below:

    Month Over Month (M-o-M in %) change in WPI Index#

    All Commodities/Major Groups

    Weight

    Sep-24

    Oct-24

    Nov-24

    Dec-24 (F)

    Jan-25 (P)

    Feb-25 (P)

    All Commodities

    100.00

    0.19

    1.29

    -0.19

    -0.45

    -0.64

    0.06

    I. Primary Articles

    22.62

    0.21

    2.61

    -1.35

    -2.07

    -2.01

    -1.74

    II. Fuel & Power

    13.15

    -0.74

    1.09

    0.74

    1.27

    -0.79

    2.12

    III. Manufactured Products

    64.23

    0.42

    0.70

    0.14

    -0.07

    0.14

    0.42

    Food Index

    24.38

    1.45

    3.22

    -0.99

    -2.10

    -2.35

    -1.25

    Note: F: Final, P: Provisional, #Monthly rate of change, based on month over month (M-o-M) WPI calculated over the preceding month

     

    Month-over-Month Change in Major Groups of WPI:

    1. Primary Articles (Weight 22.62%):-The index for this major group decreased by 1.74% to 186.6 (provisional) in February, 2025 from 189.9 (provisional) for the month of January, 2025. Price of food articles (-2.05%), crude petroleum & natural gas (-1.46%), minerals (-1.26%) and non-food articles (-0.36%) decreased in February, 2025 as compared to January, 2025.

    2. Fuel & Power (Weight 13.15%): – The index for this major group increased by 2.12% to 153.8 (provisional) in February, 2025 from 150.6(provisional) for the month of January, 2025. Price of electricity (4.28%) and mineral oils (1.87%) increased in February, 2025as compared to January, 2025. The price of coal remained same as that in the previous month.

    3. Manufactured Products (Weight 64.23%):- The index for this major group increased by 0.42% to 143.8 (Provisional) in February, 2025from 143.2(Provisional) for the month of January, 2025. Out of the 22 NIC two-digit groups for manufactured products, 17 groups witnessed an increase in prices,2 groups witnessed a decrease in prices and 3 groups witnessed no change in prices. Some of the important groups that showed month-over-month increase in prices were other manufacturing; manufacture of food products; basic metals; other non-metallic mineral products and chemicals and chemical products etc. Some of the groups that witnessed a decrease in prices were manufacture of wood and of products of wood and cork; and leather and related products in February, 2025 as compared to January, 2025.

    WPI Food Index (Weight 24.38%): The Food Index consisting of ‘food articles’ from primary articles group and ‘food product’ from manufactured products group decreased from 191.4 in January, 2025 to 189.0 in February, 2025. The annual rate of inflation based on WPI Food Index decreased from 7.47% in January, 2025 to5.94% in February, 2025.

    Final Index for the month of December, 2024 (Base Year: 2011-12=100): For the month of December, 2024, the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011-12=100) stood at 155.7 and 2.57% respectively. The details of all India Wholesale Price Indices and Rates of Inflation for different commodity groups based on updated figures are at Annex I. The Annual rate of Inflation (Y-o-Y) based on WPI for different commodity groups in the last six months is at Annex II. WPI for different commodity groups in the last six months is at Annex III.

    Response Rate: The WPI for February, 2025 has been compiled at a weighted response rate of88.3percent, while the final figure for December, 2024 is based on the weighted response rate of96.4percent. The provisional figures of WPI will undergo revision as per the revision policy of WPI. This press release, item indices, and inflation numbers are available at our home page http://eaindustry.nic.in.

    Next date of Press Release: WPI for the month of March, 2025 would be released on 14/04/2025.

    Note: DPIIT releases index number of wholesale price in India on monthly basis on 14th of every month (or next working day, if 14th falls on holiday) with a time lag of two weeks of the reference month, and the index number is compiled with data received from institutional sources and selected manufacturing units across the country. This press release contains WPI (Base Year 2011-12=100) for the month of February, 2025 (Provisional), December, 2024 (Final) and other months/years. Provisional figures of WPI are finalised after 10 weeks (from the month of reference), and frozen thereafter.

    Annex-I

    All India Wholesale Price Indices and Rates of Inflation (Base Year: 2011-12=100) for February, 2025

    Commodities/Major Groups/Groups/Sub-Groups/Items

    Weight

    Index

    February-25*

    Month over Month (MoM)

    Cumulative Inflation(YoY)

    Rate of Inflation (YoY)

    Feb-24

    Feb-25*

    Apr-Feb 2023-24

    Apr-Feb 2024-25*

    Feb-24

    Feb-25*

    ALL COMMODITIES

    100.00

    154.8

    0.00

    0.06

    -0.82

    2.25

    0.20

    2.38

    I. PRIMARY ARTICLES

    22.62

    186.6

    0.06

    -1.74

    3.44

    5.54

    4.55

    2.81

    A. Food Articles

    15.26

    195.8

    0.32

    -2.05

    6.57

    7.83

    7.07

    3.38

    Cereals

    2.82

    213.0

    0.86

    0.33

    6.99

    8.11

    6.63

    6.77

    Paddy

    1.43

    203.6

    1.26

    0.25

    9.08

    8.85

    10.25

    5.17

    Wheat

    1.03

    220.8

    0.70

    0.55

    4.26

    7.61

    2.39

    9.58

    Pulses

    0.64

    208.5

    2.03

    -3.92

    14.12

    11.99

    18.37

    -1.04

    Vegetables

    1.87

    188.3

    -2.91

    -15.60

    8.19

    19.30

    19.84

    -5.80

    Potato

    0.28

    216.3

    0.06

    -26.78

    -20.81

    73.05

    16.16

    27.54

    Onion

    0.16

    303.8

    -16.82

    -4.04

    39.23

    43.85

    28.65

    48.05

    Fruits

    1.60

    209.6

    1.64

    6.72

    -0.89

    11.22

    -3.83

    20.88

    Milk

    4.44

    186.4

    0.66

    -0.43

    7.69

    3.18

    5.40

    1.58

    Eggs, Meat & Fish

    2.40

    171.5

    0.18

    -1.83

    1.12

    0.71

    -0.47

    1.48

    B. Non-Food Articles

    4.12

    166.8

    -2.15

    -0.36

    -5.76

    -0.61

    -6.52

    4.84

    Oil Seeds

    1.12

    178.9

    -2.40

    -2.24

    -10.03

    -2.15

    -10.43

    0.11

    C. Minerals

    0.83

    227.2

    0.58

    -1.26

    7.68

    4.77

    3.45

    0.98

    D. Crude Petroleum & Natural gas

    2.41

    148.7

    2.18

    -1.46

    -3.72

    -0.97

    8.24

    -4.06

    Crude Petroleum

    1.95

    124.4

    3.21

    -4.31

    -9.19

    -1.70

    16.65

    -7.99

    II. FUEL & POWER

    13.15

    153.8

    0.00

    2.12

    -4.87

    -1.52

    -1.71

    -0.71

    LPG

    0.64

    123.0

    0.74

    -0.57

    -10.85

    3.01

    3.83

    0.90

    Petrol

    1.60

    152.5

    1.73

    1.13

    -3.47

    -3.72

    -0.69

    -4.21

    HSD

    3.10

    166.6

    0.17

    0.60

    -10.77

    -3.45

    -6.37

    -3.20

    III. MANUFACTURED PRODUCTS

    64.23

    143.8

    0.07

    0.42

    -1.76

    1.58

    -1.27

    2.86

    Mf/o Food Products

    9.12

    177.8

    -0.12

    0.45

    -3.25

    6.77

    -1.11

    11.06

    Vegetable & Animal Oils and Fats

    2.64

    188.5

    0.64

    1.02

    -21.28

    14.73

    -13.38

    33.59

    Mf/o Beverages

    0.91

    134.5

    -0.08

    0.07

    2.05

    1.94

    1.53

    1.66

    Mf/o Tobacco Products

    0.51

    180.0

    0.57

    1.47

    5.06

    2.20

    5.23

    2.74

    Mf/o Textiles

    4.88

    137.0

    0.30

    0.07

    -5.99

    1.20

    -2.04

    1.93

    Mf/o Wearing Apparel

    0.81

    154.3

    0.53

    0.13

    1.49

    1.69

    1.34

    1.71

    Mf/o Leather and Related Products

    0.54

    125.8

    0.16

    -0.40

    1.61

    0.74

    1.23

    1.70

    Mf/o Wood and of Products of Wood and Cork

    0.77

    148.8

    0.95

    -0.33

    2.21

    1.84

    4.84

    -0.47

    Mf/o Paper and Paper Products

    1.11

    140.8

    -0.58

    1.00

    -7.85

    -1.05

    -6.82

    2.10

    Mf/o Chemicals and Chemical Products

    6.47

    137.1

    0.00

    0.29

    -6.00

    -0.40

    -5.18

    1.26

    Mf/o Pharmaceuticals, Medicinal Chemical and Botanical Products

    1.99

    145.0

    0.63

    0.00

    1.45

    1.01

    1.05

    0.76

    Mf/o Rubber and Plastics Products

    2.30

    129.7

    0.39

    0.31

    -1.83

    1.19

    -0.78

    1.57

    Mf/o other Non-Metallic Mineral Products

    3.20

    132.6

    -0.45

    0.61

    0.88

    -2.64

    -1.11

    -0.90

    Cement, Lime and Plaster

    1.64

    131.2

    -0.73

    0.92

    0.32

    -5.38

    -1.94

    -3.67

    Mf/o Basic Metals

    9.65

    137.6

    -0.22

    0.36

    -5.21

    -1.09

    -5.72

    -0.65

    Mild Steel – Semi Finished Steel

    1.27

    117.3

    -0.43

    0.51

    -5.45

    -1.97

    -6.49

    0.51

    Mf/o Fabricated Metal Products, Except Machinery and Equipment

    3.15

    136.2

    -0.15

    0.59

    -0.12

    -2.04

    -1.08

    -1.02

    Note: * = Provisional.Mf/o = Manufacture of

    Annex-II

    WPI Inflation (Base Year: 2011-12=100) for last 6 months

    Commodities/Major Groups/Groups/Sub-Groups/Items

    Weight

    WPI based inflation (YoY) figures for last 6 months

    Sep-24

    Oct-24

    Nov-24

    Dec-24

    Jan-25*

    Feb-25*

    ALL COMMODITIES

    100.00

    1.91

    2.75

    2.16

    2.57

    2.31

    2.38

    I. PRIMARY ARTICLES

    22.62

    6.48

    8.26

    5.49

    6.02

    4.69

    2.81

    A. Food Articles

    15.26

    11.48

    13.49

    8.48

    8.53

    5.88

    3.38

    Cereals

    2.82

    8.50

    7.80

    7.71

    6.77

    7.33

    6.77

    Paddy

    1.43

    8.77

    7.47

    7.58

    6.93

    6.22

    5.17

    Wheat

    1.03

    7.71

    8.04

    8.20

    7.48

    9.75

    9.58

    Pulses

    0.64

    12.94

    9.27

    5.97

    5.02

    5.08

    -1.04

    Vegetables

    1.87

    48.97

    62.86

    29.34

    28.57

    8.35

    -5.80

    Potato

    0.28

    77.29

    79.11

    82.64

    92.36

    74.28

    27.54

    Onion

    0.16

    81.43

    39.25

    1.08

    16.98

    28.33

    48.05

    Fruits

    1.60

    12.17

    13.60

    5.59

    11.16

    15.12

    20.88

    Milk

    4.44

    2.94

    3.00

    2.04

    2.15

    2.69

    1.58

    Eggs, Meat & Fish

    2.40

    -0.92

    -0.52

    3.16

    5.43

    3.56

    1.48

    B. Non-Food Articles

    4.12

    -1.46

    -1.34

    -0.61

    2.40

    2.95

    4.84

    Oil Seeds

    1.12

    -0.49

    1.98

    0.32

    -1.35

    -0.05

    0.11

    C. Minerals

    0.83

    1.04

    4.51

    6.30

    5.70

    2.86

    0.98

    D. Crude Petroleum & Natural gas

    2.41

    -13.04

    -11.80

    -7.74

    -6.77

    -0.53

    -4.06

    Crude Petroleum

    1.95

    -16.78

    -12.49

    -7.20

    -6.86

    -0.76

    -7.99

    II. FUEL & POWER

    13.15

    -3.85

    -4.31

    -4.03

    -2.57

    -2.78

    -0.71

    LPG

    0.64

    13.18

    2.57

    1.81

    2.47

    2.23

    0.90

    Petrol

    1.60

    -7.10

    -7.35

    -6.83

    -5.09

    -3.64

    -4.21

    HSD

    3.10

    -5.33

    -6.23

    -5.68

    -4.30

    -3.61

    -3.20

    III. MANUFACTURED PRODUCTS

    64.23

    1.07

    1.78

    2.07

    2.14

    2.51

    2.86

    Mf/o Food Products

    9.12

    6.61

    9.39

    9.57

    9.75

    10.42

    11.06

    Vegetable & Animal Oils and Fats

    2.64

    14.09

    26.03

    28.83

    31.82

    33.10

    33.59

    Mf/o Beverages

    0.91

    2.28

    2.13

    2.28

    1.89

    1.51

    1.66

    Mf/o Tobacco Products

    0.51

    2.13

    1.09

    1.14

    4.40

    1.84

    2.74

    Mf/o Textiles

    4.88

    1.12

    0.89

    1.42

    2.32

    2.16

    1.93

    Mf/o Wearing Apparel

    0.81

    1.99

    1.25

    1.52

    1.65

    2.12

    1.71

    Mf/o Leather and Related Products

    0.54

    0.89

    1.37

    1.45

    1.53

    2.27

    1.70

    Mf/o Wood and of Products of Wood and Cork

    0.77

    1.43

    1.09

    0.54

    0.47

    0.81

    -0.47

    Mf/o Paper and Paper Products

    1.11

    1.01

    0.94

    0.07

    -0.07

    0.50

    2.10

    Mf/o Chemicals and Chemical Products

    6.47

    0.15

    -0.22

    0.29

    0.59

    0.96

    1.26

    Mf/o Pharmaceuticals, Medicinal Chemical and Botanical Products

    1.99

    0.98

    0.42

    1.19

    0.49

    1.40

    0.76

    Mf/o Rubber and Plastics Products

    2.30

    0.55

    1.89

    1.42

    1.18

    1.65

    1.57

    Mf/o other Non-Metallic Mineral Products

    3.20

    -3.26

    -3.83

    -2.38

    -2.73

    -1.93

    -0.90

    Cement, Lime and Plaster

    1.64

    -6.19

    -7.20

    -5.38

    -6.26

    -5.25

    -3.67

    Mf/o Basic Metals

    9.65

    -3.71

    -2.04

    -1.14

    -1.50

    -1.22

    -0.65

    Mild Steel – Semi Finished Steel

    1.27

    -6.24

    -1.67

    -0.68

    -0.85

    -0.43

    0.51

    Mf/o Fabricated Metal Products, Except Machinery and Equipment

    3.15

    -2.22

    -2.81

    -2.87

    -1.45

    -1.74

    -1.02

    Note: * = Provisional.Mf/o = Manufacture of

     

    Annex-III

    Wholesale Price Indices (Base Year: 2011-12=100) forlast 6 months

    Commodities/Major Groups/Groups/Sub-Groups/Items

    Weight

    WPI Numbers for last 6 months

    Sep-24

    Oct-24

    Nov-24

    Dec-24

    Jan-25*

    Feb-25*

    ALL COMMODITIES

    100.00

    154.7

    156.7

    156.4

    155.7

    154.7

    154.8

    I. PRIMARY ARTICLES

    22.62

    195.5

    200.6

    197.9

    193.8

    189.9

    186.6

    A. Food Articles

    15.26

    210.8

    217.9

    213.7

    207.5

    199.9

    195.8

    Cereals

    2.82

    206.8

    208.6

    211.0

    211.4

    212.3

    213.0

    Paddy

    1.43

    203.4

    204.4

    205.9

    205.3

    203.1

    203.6

    Wheat

    1.03

    205.4

    209.6

    213.8

    215.5

    219.6

    220.8

    Pulses

    0.64

    237.4

    234.5

    230.8

    224.0

    217.0

    208.5

    Vegetables

    1.87

    310.9

    360.9

    334.6

    288.5

    223.1

    188.3

    Potato

    0.28

    376.2

    375.6

    384.1

    365.1

    295.4

    216.3

    Onion

    0.16

    493.3

    478.2

    495.8

    414.7

    316.6

    303.8

    Fruits

    1.60

    209.3

    210.5

    198.4

    193.3

    196.4

    209.6

    Milk

    4.44

    185.3

    185.6

    185.2

    185.6

    187.2

    186.4

    Eggs, Meat & Fish

    2.40

    172.6

    171.0

    173.1

    174.7

    174.7

    171.5

    B. Non-Food Articles

    4.12

    162.2

    161.9

    162.8

    166.2

    167.4

    166.8

    Oil Seeds

    1.12

    184.6

    185.4

    185.6

    182.8

    183.0

    178.9

    C. Minerals

    0.83

    223.2

    229.6

    229.4

    230.1

    230.1

    227.2

    D. Crude Petroleum & Natural gas

    2.41

    146.1

    147.3

    146.7

    141.9

    150.9

    148.7

    Crude Petroleum

    1.95

    123.5

    126.1

    125.0

    119.5

    130.0

    124.4

    II. FUEL & POWER

    13.15

    147.2

    148.8

    149.9

    151.8

    150.6

    153.8

    LPG

    0.64

    116.8

    119.8

    123.6

    124.6

    123.7

    123.0

    Petrol

    1.60

    151.7

    149.9

    148.7

    149.2

    150.8

    152.5

    HSD

    3.10

    165.1

    164.2

    164.4

    164.6

    165.6

    166.6

    III. MANUFACTURED PRODUCTS

    64.23

    141.9

    142.9

    143.1

    143.0

    143.2

    143.8

    Mf/o Food Products

    9.12

    171.0

    175.9

    177.5

    176.8

    177.0

    177.8

    Vegetable & Animal Oils and Fats

    2.64

    162.8

    178.2

    183.2

    185.6

    186.6

    188.5

    Mf/o Beverages

    0.91

    134.3

    134.5

    134.7

    134.5

    134.4

    134.5

    Mf/o Tobacco Products

    0.51

    177.5

    176.0

    177.0

    180.3

    177.4

    180.0

    Mf/o Textiles

    4.88

    135.8

    135.9

    136.1

    136.8

    136.9

    137.0

    Mf/o Wearing Apparel

    0.81

    153.6

    153.9

    153.7

    154.4

    154.1

    154.3

    Mf/o Leather and Related Products

    0.54

    125.0

    125.7

    125.8

    126.0

    126.3

    125.8

    Mf/o Wood and of Products of Wood and Cork

    0.77

    148.6

    148.7

    148.5

    148.3

    149.3

    148.8

    Mf/o Paper and Paper Products

    1.11

    139.8

    139.8

    138.5

    138.3

    139.4

    140.8

    Mf/o Chemicals and Chemical Products

    6.47

    136.5

    136.3

    136.4

    136.5

    136.7

    137.1

    Mf/o Pharmaceuticals, Medicinal Chemical and Botanical Products

    1.99

    144.1

    143.5

    144.1

    144.0

    145.0

    145.0

    Mf/o Rubber and Plastics Products

    2.30

    128.7

    129.6

    128.6

    129.0

    129.3

    129.7

    Mf/o other Non-Metallic Mineral Products

    3.20

    130.6

    130.4

    131.4

    131.7

    131.8

    132.6

    Cement, Lime and Plaster

    1.64

    128.9

    128.8

    130.1

    130.2

    130.0

    131.2

    Mf/o Basic Metals

    9.65

    137.7

    139.3

    138.6

    137.5

    137.1

    137.6

    Mild Steel – Semi Finished Steel

    1.27

    114.1

    118.0

    117.5

    116.8

    116.7

    117.3

    Mf/o Fabricated Metal Products, Except Machinery and Equipment

    3.15

    136.3

    135.0

    135.3

    135.9

    135.4

    136.2

    Note: * = Provisional.Mf/o = Manufacture of

    ***

    Abhishek Dayal/ Abhijith Narayanan

    (Release ID: 2111710) Visitor Counter : 159

    MIL OSI Asia Pacific News –

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

    BRAZZAVILLE, Congo (Republic of the), March 17, 2025/APO Group/ —

    Taking place on the sidelines of the inaugural Congo Energy & Investment Forum (https://apo-opa.co/3RbNYDB) this month the African Petroleum Producers’ Organization (APPO) will host a side event focusing on the challenges of the energy transition in Africa on March 26. The global pursuit to achieving net-zero emissions by 2050 is getting closer with each year, with new technologies, regulatory policies, funding opportunities and legislation set to expedite the transition from hydrocarbons to renewable energy resources. However, a just energy transition for Africa requires allowing the continent to utilize its natural resources to move towards cleaner sources of energy.

    As such, the African Energy Bank: Energy Transition and Financing Optics for Oil and gas Industry in Africa side event will shine a light on the role of the African Energy Bank (AEB) (https://apo-opa.co/3DMaNLa) in addressing the funding challenge that the energy transition poses to the African oil and gas industry. Launched by the African Export-Import Bank (Afreximbank) in partnership with APPO, the AEB – set to commence operations in March 2025 – represents a bold step towards empowering African nations to take control of their energy future.

    The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

    By mobilizing significant investment and fostering energy independence, the AEB will play a pivotal role in bridging the financing gap, unlocking the full potential of Africa’s energy resources and driving industrial and economic growth across the continent. The AEB’s strategic partnerships with government’s, financial institutions and energy stakeholders will enable large-scale investments in renewables and traditional energy projects, supporting the continent’s transition to cleaner energy sources while addressing immediate energy access needs.

    With the participation of Bruno Jean-Richad Itoua, Minister of Hydrocarbons of the Republic of Congo and President of APPO, as well as Dr. Omar Farouk Ibrahim, Secretary General of APPO, the side event is set to showcase how African countries can capitalize on development across the entire energy value chain, create jobs and ensure ownership and control, independent of global pressure that doesn’t understand the intricacies of energy poverty across the continent.

    The AEB has been established with an initial $5 billion authorized capital – of which 45% has been secured –, serving as a crucial step in mobilizing investment for energy projects. The bank aims for an ambitious $120 billion asset base, with Nigeria having secured the hosting rights for the bank last year after competing against three other nations.

    “APPO’s side event at the inaugural CEIF 2025 represents a pivotal moment in Africa’s journey towards a sustainable and inclusive energy future. By addressing the critical funding challenges of the energy transition, APPO’s initiative aims to empower African nations to harness their natural resources, drive industrial growth and create energy solutions that are both sustainable and accessible. The global energy transition is not only about transitioning to cleaner energy – it’s about ensuring that Africa has the financial tools and strategic partnerships to take control of its energy future and secure a just transition for all its people,” states Sandra Jeque, Events and Project Director at Energy Capital & Power. 

    MIL OSI Africa –

  • MIL-OSI Russia: The 5th meeting of the Joint Russian-Qatari Commission on Trade, Economic and Technical Cooperation was held in Doha

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Denis Manturov and the Chairman of the Council of Ministers, Minister of Foreign Affairs of Qatar Mohammed bin Abdul Rahman bin Jassim Al Thani held the 5th meeting of the Joint Russian-Qatari Commission on Trade, Economic and Technical Cooperation.

    First Deputy Prime Minister of Russia Denis Manturov and Chairman of the Council of Ministers, Minister of Foreign Affairs of Qatar Mohammed bin Abdul Rahman bin Jassim Al Thani held the 5th meeting of the Joint Russian-Qatari Commission on Trade, Economic and Technical Cooperation.

    During the meeting, the parties discussed issues of bilateral cooperation in the areas of trade, investment and finance, transport and digital technologies, as well as humanitarian projects, including culture, sports and education. Particular attention was paid to industrial cooperation in such sectors as pharmaceuticals, shipbuilding, power engineering, including in the field of renewable energy.

    Denis Manturov noted that given the scale of foreign trade between Russia and Qatar, the volume of bilateral trade does not fully reflect the existing potential. Opportunities for increasing and diversifying mutual trade, in particular, are associated with food supplies.

    “Cereals, primarily wheat and barley, already predominate in the structure of our trade turnover. We are ready to increase shipments of agricultural products, including halal products. Having in mind not only ensuring food security for Qatar, but also creating a regional agro-industrial hub in your country. Among the promising export products, we can also highlight beef, poultry, sunflower oil and confectionery,” said the First Deputy Prime Minister.

    Speaking about mutually beneficial projects in the pharmaceutical sector, Denis Manturov noted that in addition to supplying a wide range of medicines, Russia is considering localizing production in Qatar with the transfer of relevant technologies. In addition, opportunities for cooperation are opened up by domestic advanced developments in the field of shipbuilding, in particular, this concerns passenger hydrofoils and environmentally friendly silent electric vessels, which are successfully operated in Russia.

    “Interaction in the field of digital technologies contains a capacious potential. Russian companies have unique developments in the field of artificial intelligence, the Internet of things and solutions in the field of information security. I would like to highlight the opportunities for cooperation between Moscow and Doha in such a relevant area as smart city technologies,” Denis Manturov noted.

    A positive trend in the development of cooperation in the field of tourism was noted. “Last year, more than 100 thousand Russian citizens visited Qatar. Reciprocal interest from Qatari citizens is also increasing – in 2024, we received about 11 thousand tourists from your country. This is understandable, since Russia combines unique natural, climatic, cultural and historical features with a dynamically growing level of the hospitality industry and security,” said Denis Manturov.

    Speaking about cooperation in the field of sports, the First Deputy Prime Minister recalled that in November last year, Doha hosted the international rhythmic gymnastics competition “Heavenly Grace Cup”, organized on the initiative of Olympic champion Alina Kabaeva. The interdepartmental Memorandum of Understanding in the field of physical culture and sports, the signing of which is planned for the near future, will contribute to strengthening cooperation.

    In conclusion of his speech, Denis Manturov invited Qatari representatives to take part in the St. Petersburg International Economic Forum scheduled for June, where the country was a guest in 2021, in the Russia-Islamic World International Economic Forum to be held in Kazan in May, the Innoprom International Industrial Exhibition in Yekaterinburg in July, and the Russian Energy Week in Moscow in October. In addition, during the IGC, the Russian side voiced a proposal to hold a Russian-Qatari business forum in Moscow in April 2025.

    Following the meeting, the final protocol of the 5th meeting of the commission was signed.

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

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Surveys conducted by Government

    Source: Government of India (2)

    1

    Household Consumer Expenditure Survey

    January, 2004 – June, 2004

    Report No. 505: Household Consumer Expenditure in India

    2

    Employment and Unemployment Survey

    January, 2004 – June, 2004

    Report No. 506: Employment and Unemployment Situation in India

    3

    Survey on Morbidity and Health care

    January, 2004 – June, 2004

    Report No. 507: Morbidity, Health Care and the Condition of the Aged

    4

    Household Consumer Expenditure Survey

    July, 2004 – June, 2005

    Report No. 508: Level and Pattern of Consumer Expenditure, 2004-05

    Report No. 509: Household Consumption of Various Goods and Services in India, 2004-05

    Report No. 510: Public Distribution System and Other Sources of Household Consumption, 2004-05

    Report No. 511: Energy Sources of Indian Households for Cooking and Lighting, 2004-05

    Report No. 512: Perceived Adequacy of Food Consumption in Indian Households 2004-2005

    Report No. 513: Nutritional Intake in India 2004-2005

    Report No. 514: Household Consumer Expenditure Among Socio-Economic Groups: 2004 – 2005

    5

    Employment and Unemployment Survey

    July, 2004 – June, 2005

    Report No. 515: Employment and Unemployment Situation in India 2004-05

    Report No. 516: Employment and Unemployment Situation Among Social Groups in India 2004-05

    Report No. 517: Status of Education and Vocational Training in India 2004-05

    Report No. 518: Participation of Women in Specified Activities along with Domestic Duties 2004-2005

    Report No. 519: Informal Sector and Conditions of Employment in India 2004-05

    Report No. 520: Employment and Unemployment Situation in Cities and Towns in India

    Report No. 521: Employment and Unemployment Situation among Major Religious Groups in India

    6

    Employment & Unemployment

    July 2005 – June 2006

    Report No. 522: Employment and Unemployment Situation in India

    7

    Consumer Expenditure

    July 2005 – June 2006

    Report No. 523: Household Consumer Expenditure in India, 2005-06

    8

    Household Consumer Expenditure

    July 2006 – June 2007

    Report No. 527: Household Consumer Expenditure in India, 2006-07

    9

    Household Consumer Expenditure

    July 2007 – June 2008

    Report No. 530: Household Consumer Expenditure in India

    10

    Employment & Unemployment and Migration Particulars

    July 2007 – June 2008

    Report No. 531: Employment and Unemployment Situation in India, 2007-08

    Report No. 533: Migration in India, 2007-2008

    11

    Participation and Expenditure on Education

    July 2007 – June 2008

    Report No. 532: Education in India: 2007-08 Participation Expenditure

    12

    Particulars of Slum

    July 2008 – June 2009

    Report No. 534: Some Characteristics of Urban Slums, 2008-09

    13

    Housing Condition

    July 2008 – June 2009

    Report No. 535: Housing Condition and Amenities in India, 2008-09

    14

    Domestic Tourism

    July 2008 – June 2009

    Report No. 536: Domestic Tourism in India, 2008-09

    15

    Employment and Unemployment

    July 2009 – June 2010

    KI(66/10): Key Indicators of Employment and Unemployment in India, 2009-10

    Report No. 537: Employment and Unemployment Situation in India, 2009-10

    Report No. 539: Informal Sector and Conditions of Employment in India

    Report No. 543: Employment and Unemployment situation among Social Groups in India

    Report No. 548: Home-based Workers in India

    Report No. 550: Participation of Women in Specified Activities along with Domestic Duties, 2009-10

    Report No. 551: Status of Education and Vocational Training in India

    Report No. 552: Employment and Unemployment situation among Major Religious Groups in India

    Report No. 553: Employment and Unemployment situation in cities and towns in India

    16

    Household Consumer Expenditure

    July 2009 – June 2010

    KI (66/1.0): Key Indicators of Household Consumer Expenditure India, 2009-10

    Report No. 538: Level and Pattern of Consumer Expenditure

    Report No. 540: Nutritional Intake in India

    Report No. 541: Household Consumption of Various Goods and Services in India

    Report No. 542: Energy Sources of Indian Households for Cooking and Lighting

    Report No. 544: Household Consumer Expenditure across Socio-Economic Groups

    Report No. 545: Public Distribution System and Other Sources of Household Consumption

    Report No. 547: Perceived Adequacy of Food Consumption in Indian Households

    17

    Consumer Expenditure

    July 2011 – June 2012

    KI (68/1.0): Key Indicator of Household Consumer Expenditure in India

    Report No. 555: Level and Pattern of Consumer Expenditure, 2011-12

    Report No. 558: Household Consumption of Various Goods and Services in India, 2011-12

    Report No. 560: Nutritional Intake in India, 2011-12

    Report No. 562: Household Consumer Expenditure across Socio- Economic Groups, 2011-12

    Report No. 565: Public Distribution System and Other Sources of Household Consumption, 2011-12

    Report No. 567: Energy Sources of Indian Households for Cooking & Lighting, 2011-12

    18

    Employment and Unemployment

    July 2011 – June 2012

    KI (68/10): Key Indicator of Employment and Unemployment in India, 2011-12

    Report No. 554: Employment & Unemployment Situation in India, 2011-12

    Report No. 557: Informal Sector and Conditions of Employment in India

    Report No. 559: Participation of Women in Specified Activities along with Domestic Duties

    Report No. 563: Employment and Unemployment situation among Social Groups in India

    Report No. 654: Employment and Unemployment situation Towns in India

    Report No. 566: Status of Education and Vocational Training in India

    19

    Drinking Water, Sanitation, Hygiene and Housing Condition

    July 2012 – December 2012

    KI (69/1.2): Key Results of Survey on Drinking Water, Sanitation, Hygiene and Housing Condition in India

    Report No. 556: Drinking Water, Sanitation, Hygiene and Housing Condition in India

    20

    Particulars of Slums

    July 2012 – December 2012

    KI (69/0.21): Key Indicators on Urban Slums in India

    Report No. 561: Urban Slums in India, 2012

    21

    Land and Livestock Holdings

    January 2013 – December, 2013

    KI (70/18.1): Key Indicators of Land and Livestock Holdings in India

    Report No. 571: Household Ownership and Operational Holdings in India

    Report No. 572: Livestock Ownership in India

    22

    All India Debt and Investment

    January 2013 – December, 2013

    KI (70/18.2): Key Indicators of Debt and Investment in India

    Report No. 570: Household Assets and Liabilities

    Report No. 577: Household Indebtedness in India

    Report No. 578: Household Assets and Indebtedness among Social Groups

    Report No. 579: Household Capital Expenditure in India

    23

    Situation Assessment of Agricultural Households

    January 2013 – December, 2013

    KI (70/33): Key Indicators of Situation of Agricultural Households in India

    Report No. 569: Some Characteristics of Agricultural Households in India

    Report No. 573: Some Aspects of Farming in India

    Report No. 576: Income, Expenditure, Productive Assets and Indebtedness of Agricultural Households in India

    24

    Social consumption: Health

    January 2014 – June, 2014

    KI (71/25.0): Key Indicators of Social Consumption: Health

    Report No. 574: Health in India

    25

    Social consumption: Education

    January 2014 – June, 2014

    KI (71/25.2): Key Indicators of Social Consumption: Education in India

    Report No. 575: Education in India, 2014

    26

    Domestic Tourism Expenditure

    July, 2014 – June, 2015

    KI (72/21.1): Key Indicators of Domestic Tourism in India

    Report No. 580: Domestic Tourism in India

    27

    Household Expenditure on Services and Durable Goods

    July, 2014 – June, 2015

    KI (72/1.5): Key Indicators of Household Expenditure on Services and Durable Goods

    28

    Manufacturing sector enterprises

    July 2005 – June 2006

    NSS Report No. 524: Operational Characteristics of Unorganised Manufacturing Enterprises in India, 2005-06

     

    NSS Report No. 525: Unorganised Manufacturing Sector in India, 2005-06 – Employment, Assets and Borrowings

     

    NSS Report No. 526: Unorganised Manufacturing Sector in India, 2005-06 – Input, Output and Value Added

    29

    Service sector enterprises excluding Trade

    July 2006 – June 2007

    NSS Report No. 528: Service Sector in India (2006-07): Operational Characteristics of Enterprises

     

    NSS Report No. 529: Service Sector in India (2006-07): Economic Characteristics of Enterprises

    30

    Unincorporated non-agricultural enterprises in

    manufacturing, trade and other service sector

    (excluding Construction)

    July 2010 – June 2011

    KI (67/2.34): Key Results of Survey on Unincorporated Non-agricultural Enterprises (Excluding Construction) in India

     

    NSS Report No. 546: Operational Characteristics of Unincorporated Non-agricultural Enterprises (Excluding Construction) in India

     

    NSS Report No. 549: Economic Characteristics of Unincorporated Non-agricultural Enterprises (Excluding Construction) in India

    31

    Annual Survey of Industries (ASI)

    Continuous annual Survey conducted for every financial year from 2003-04 to 2013-14

    Reports released for all surveys of ASI conducted for every financial year from 2003-04 to 2013-14.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Dr. Shivkumar Kalyanaraman assumes charge of Chief Executive Officer (CEO) Anusandhan National Research Foundation (ANRF)

    Source: Government of India

    Posted On: 17 MAR 2025 2:24PM by PIB Delhi

    Secretary Department of Science and Technology (DST) Professor Abhay Karandikar who was acting as Chief Executive Officer (CEO) of Anusandhan National Research Foundation (ANRF) handed over the charge to Dr. Shivkumar Kalyanaraman who has been appointed CEO.

    With this, Dr. Shivkumar assumes charge of the CEO of ANRF which aims to seed, grow and promote research and development (R&D) and foster a culture of research and innovation throughout India’s universities, colleges, research institutions, and R&D laboratories.

    Dr. Shivkumar who earlier held the post of Chief Technology Officer (CTO), Energy Industry, Asia at Microsoft is a Distinguished Alumnus Awardee of IIT Madras & Ohio State University (2021). He is also a Fellow of the IEEE (2010), Fellow of Indian National Academy of Engineering (2015), ACM Distinguished Scientist (2010), Microsoft Gold Club (2024) and Technology Review TR100 young innovator (1999).

    ANRF will act as an apex body to provide high-level strategic direction of scientific research in the country as per recommendations of the National Education Policy (NEP).

    ANRF will forge collaborations among the industry, academia, and government departments and research institutions, and create an interface mechanism for participation and contribution of industries and State governments in addition to the scientific and line ministries.

    *****

    NKR/PSM

    (Release ID: 2111743) Visitor Counter : 57

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Answer to a written question – Recognition of nuclear-derived hydrogen as ‘low carbon’ – E-002277/2024(ASW)

    Source: European Parliament

    The Commission published on 27 September 2024 for feedback a draft delegated act[1] setting out the methodology for determining the greenhouse gas emissions savings of low-carbon fuels.

    The consultation closed on 25 October 2024. As required under Article 9(5) of the Hydrogen and Gas Market Directive[2], the draft is consistent with the methodology agreed for determining the greenhouse gas emissions savings of renewable hydrogen and recycled carbon fuels[3], including the same pathway that considers the emission intensity of electricity based on the annual electricity mix.

    The pathway for sourcing fully renewable electricity is specifically required by the Renewable Energy Directive[4] while no dedicated pathway for sourcing nuclear power is set out under the Gas Market Directive[5].

    Nevertheless, the Commission intends to explore also these pathways in the context of a future review of the draft delegated act at the latest by July 2028.

    The Commission will take into account the feedback received and adopt the final text of the delegated act before submitting it to the European Parliament and the Council, which will have two months to examine the proposals and to accept or reject them.

    • [1] https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/14303-Methodology-to-determine-the-greenhouse-gas-GHG-emission-savings-of-low-carbon-fuels_en
    • [2] Directive (EU) 2024/1788.
    • [3] Commission Delegated Regulation (EU) 2023/1185 of 10 February 2023 supplementing Directive (EU) 2018/2001 of the European Parliament and of the Council by establishing a minimum threshold for greenhouse gas emissions savings of recycled carbon fuels and by specifying a methodology for assessing greenhouse gas emissions savings from renewable liquid and gaseous transport fuels of non-biological origin and from recycled carbon fuels. OJ L 157/20, of 20.06.2023.
    • [4] Directive (EU) 2023/2413 of the European Parliament and of the Council of 18 October 2023 amending Directive (EU) 2018/2001, Regulation (EU) 2018/1999 and Directive 98/70/EC as regards the promotion of energy from renewable sources, and repealing Council Directive (EU) 2015/652, OJ L, 2023/2413, 31.10.2023.
    • [5] Directive (EU) 2024/1788 of the European Parliament and of the Council of 13 June 2024 on common rules for the internal markets for renewable gas, natural gas and hydrogen, amending Directive (EU) 2023/1791 and repealing Directive 2009/73/EC (recast), OJ L, 2024/1788, 15.7.2024.
    Last updated: 17 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Measures to expand electricity infrastructure for the green transition – E-002681/2024(ASW)

    Source: European Parliament

    Interconnected and stable electricity grids, both at transmission and distribution levels, are a key enabler of the clean energy transition.

    The development of distribution grids is addressed in several legal as well as non-legislative acts, including the Electricity Directive[1]; several actions targeting the distribution networks have also been tabled for the first time in the Grid Action Plan[2].

    The Commission will continue to actively upgrade the EU grid infrastructure. The Commission will look at the legal framework on European grids with the aim to help upgrade and expand grids to support rapid electrification, and will table a Clean Investment Strategy to support efforts to prioritise investment in clean energy infrastructure.

    An Electrification Action Plan will also be tabled to ensure an encompassing strategy towards an EU energy system powered with homegrown, clean electricity.

    In addition, the Commission is continuously monitoring skill shortages in the energy sector. The Commission estimates that the transition to clean energy will require 3.9 million additional skilled workers[3].

    The latest European skills and jobs survey[4] shows that energy supply and manufacturing are among the sectors with the highest upskilling needs in terms of technical and job-specific skills.

    To address these shortages, the Commission will[5], inter alia, promote the setting-up and implementation of new sectoral and regional skills partnerships under the Pact for Skills and support the work of all the Skills Academies in net-zero technologies.

    The Commission will also establish a Union of Skills[6], which will focus, among others, on investment, adult and lifelong learning, skill retention and recognition of different types of training.

    • [1] Directive (EU) 2024/1711.
    • [2] COM/2023/757 final, Concrete actions of the Grid Action Plan include supporting better distribution grid planning and anticipatory investment to be able to connect new loads and renewables on time, coordinate action on the grid hosting capacity for both transmission and distribution grids, promotion of smart grids and innovative network technologies also via Technopedia platform, which should be jointly established by ENTSO-E and the EU DSO entity and further actions to support accelerating the permitting procedures.
    • [3] Commission Communication on Labour and skills shortages in the EU: an action plan, COM(2024) 131 final. Electrical engineers, electrical engineering technicians, building and related electricians, electrical mechanics and fitters as well as environmental engineers were listed in Annex of the proposal for a regulation of the European Parliament and of the Council establishing an EU Talent Pool, listing occupations, for which an EU-wide shortage has been identified.
    • [4] Cedefop (2021).
    • [5] These actions are all included in the action plan on labour and skills shortages in the EU.
    • [6] As announced in the Political Guidelines.

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Hydrogen – E-002267/2024(ASW)

    Source: European Parliament

    The Commission’s reply to the Court’s observations and recommendations was published alongside the audit[1].

    The REPowerEU Plan[2] suggested an aspirational target of 10 million tonnes of EU renewable hydrogen production and 10 million tonnes of renewable hydrogen imports by 2030 to lower the imports of Russian fossil fuels, proposing to increase the mandatory targets for renewable hydrogen consumption in industry and the transport sector[3].The co-legislators however decided on a lower level of binding targets under the Renewable Energy Directive[4].

    In addition, the co-legislators also agreed on mandatory targets for renewable hydrogen consumption in industry in 2035 and laid out pathways in the aviation[5] and maritime[6] sector to promote the uptake of renewable and low-carbon hydrogen up to 2050.

    The Commission is currently working with Member States, including through an assessment of their National Energy and Climate Plans, to ensure the timely transposition of the mandatory demand volumes decided by the co-legislators in industry and transport.

    • [1] Available at: https://www.eca.europa.eu/Lists/ECAReplies/COM-Replies-SR-2024-11/COM-Replies-SR-2024-11_EN.pdf
    • [2] COM(2022) 230 final.
    • [3] The annex to the REPowerEU Plan (SWD(2022)230 final assesses that 8 m tons of this higher renewable hydrogen production and import could replace EU natural gas demand of 27 billion cubic meters.
    • [4] Directive (EU) 2023/2413.
    • [5] Regulation (EU) 2023/2405.
    • [6] Regulation (EU) 2023/1805.
    Last updated: 17 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Adoption of an EU strategy for nuclear fusion – E-002958/2024(ASW)

    Source: European Parliament

    As announced in the Clean Industrial Deal and by the Commissioner of energy and housing during his structured dialogue in the Committee on Industry, Research and Energy on 20 February 2025, the Commission is committed to present an EU fusion strategy this mandate.

    The need for an EU fusion strategy is also advocated in the Draghi report[1], and called for by EU’s fusion community. Such a strategy should leverage Europe’s leadership in the ITER[2] project and in fusion technology, in consultation with stakeholders.

    The Commission has already started such consultations and in 2024 set up a dedicated Expert Group with representatives from interested Member States to advise on steps towards the development of a specific regulatory framework and options for fostering industrial innovation through fusion research and development.

    The Commission is engaging with European fusion industry and research organisations to explore ways for the involvement of private industry, including the possibility to reinforce cooperation and sharing of knowledge with ITER, and to create a European Technology and Innovation Platform.

    In this framework, the Commission is preparing to launch a public-private partnership and is working with the European Innovation Council to support commercial fusion start-ups.

    Since 2014 , under the Euratom Research and Training Programme, the EUROfusion[3] partnership has played a pivotal role in advancing and coordinating Europe’s fusion research efforts.

    Its Research and Development roadmap,[4] which focuses on ITER programme, the demonstration power plant (DEMO), and materials testing facility IFMIF-DONES[5], serves as the foundation for fusion research in Europe, leveraging Europe’s expertise in magnetic confinement fusion.

    • [1] https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en
    • [2] ITER is an international collaboration project developing frontier science in energy technology that aims to demonstrate the technical and scientific feasibility of fusion as a future source of carbon-free energy.
    • [3] https://euro-fusion.org/
    • [4] https://euro-fusion.org/eurofusion/roadmap/
    • [5] International Fusion Materials Irradiation Facility — Demo Oriented NEutron Source.

    MIL OSI Europe News –

  • MIL-OSI Russia: Polytechnic University team reaches CASE-IN final in thermal power engineering

    Translartion. Region: Russians Fedetion –

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

    Teams from Peter the Great St. Petersburg Polytechnic University took part in the CASE-IN qualifying round in the Thermal Power Engineering category for the first time. The event was held at the St. Petersburg State University of Industrial Technologies and Design.

    Three teams, which included students from the Higher School of Nuclear and Thermal Energy and the Higher School of Engineering and Economics, under the guidance of their curator, Associate Professor of HSE Olga Novikova, gained valuable experience in participating in a competition on a third-party platform. Following the results of the qualifying round, the team “4 Gigacalories” reached the final. The captain is Mark Mironchuk, the team members are Egor Vasiliev, Abdulmin Turapov and Nikita Kondrashev (HSE).

    The experts noted the high quality of the technical solutions presented by the team, as well as the deep economic development of the projects. All three SPbPU teams demonstrated an original approach to providing heat to the consumer without using natural gas, taking into account the potential of regional bioenergy resources.

    The 4 Gigacalories team presented a project aimed at substantiating a feasible method of heating a consumer using non-gas heat sources, such as wood waste, biogas and heat pump units.

    Participation in CASE-IN was an interesting challenge for us. The guys and I immediately decided that we wanted to offer not just a working solution, but a truly relevant and environmentally friendly one. Designing a heating system without gas is a complex but interesting task. We coped with it because we assembled a team of specialists from different fields. I am very pleased that the experts appreciated our case solution. Now the final is ahead. We will work even harder to worthily represent SPbPU, – said the team captain Mark Mironchuk.

    Despite the fact that only one team made it to the finals, the jury highly appreciated the creative approach of the QATF team, which included captain Vladislav Shakurov, Angelina Grigorieva, Matvey Savelyev and third-year VIES student Georgy Gunbin.

    The Solnyshki team also deserves special attention. Georgy Kondratov (captain) and Zakhara Vasilyeva (both 4th year students, thermal power engineering), Ksenia Krutoguzenko and Svetlana Abeleva (both 3rd year students, IPMEiT) proposed the most energy-efficient solution, including mini-CHP options.

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

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Government steps to promote clean energy alternatives to Kerosene

    Source: Government of India (2)

    Posted On: 17 MAR 2025 4:17PM by PIB Delhi

    Effective 1st March, 2020, the retail selling price of PDS Kerosene is being maintained at NIL under-recovery level on pan India basis.

    Government makes allocation of Public Distribution System (PDS) Kerosene for cooking and lighting purpose. Besides this, Government in 2012, has also empowered States/ UTs to draw an allocation of one month’s quota of PDS Kerosene at Non-Subsidized rates during each financial year for special needs such as natural calamities, religious functions, fisheries, various yatras etc. The allocation of SKO under PDS has been rationalized considering the polluting nature of Kerosene. Further, Government provided cash incentives to States under Direct benefit Transfer for Kerosene scheme (DBTK) for voluntary surrender of PDS Kerosene allocations from 2015-16 to 2019-20. Since then, 13 states have become Kerosene free till FY 2023-24.

    Government is leading as well as working with various international initiatives to lead a clean energy transition. India was one of the founding members of the International Solar Alliance in November 2015 and the Global Biofuel Alliance during its G20 presidency in September 2023. During India Energy Week 2025, India hosted a Ministerial Roundtable on Clean Cooking to discuss ways to address challenges faced by the Global South and share lessons from India’s Pradhan Mantri Ujjwala Yojana (PMUY).

    Government has adopted a multi-pronged strategy to promote clean energy which, inter alia, include demand substitution by promoting usage of natural gas as fuel/feedstock across the country towards increasing the share of natural gas in economy and moving towards gas based economy, promotion of renewable and alternate fuels like ethanol, second generation ethanol, compressed bio gas and biodiesel, refinery process improvements, promoting energy efficiency and conservation, efforts for increasing production of oil and natural gas through various policies initiatives, etc. For promoting the use of Compressed Bio Gas (CBG) as automotive fuel, Sustainable Alternative Towards Affordable Transportation (SATAT) initiative has also been launched.

    As a cleaner alternative to Kerosene for lighting purposes, India has achieved near universal saturation in electricity access through Saubhagya (Pradhan Mantri Sahaj Bijli Har Ghar Yojana) and Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY).

    With a view to provide access to clean cooking fuel to poor households across the country, Pradhan Mantri Ujjwala Yojana (PMUY) was launched in May, 2016. To make LPG more affordable to PMUY consumers and ensure sustained usage of LPG by them, Government started a targeted subsidy of Rs.200/- per 14.2 kg cylinder for up to 12 refills per annum (and proportionately pro-rated for 5 Kg connections) to the PMUY consumers in May 2022. In October 2023, Government increased the targeted subsidy to Rs.300 per 14.2 kg cylinder for up to 12 refills per annum (and proportionately pro-rated for 5 Kg connections). After a targeted subsidy of Rs. 300/cylinder to PMUY consumers, Government of India is providing 14.2 Kg LPG cylinders at an effective price of Rs.503 per cylinder (in Delhi). This is available to more than 10.33 crore Ujjwala beneficiaries, across the country.

    In order to improve awareness of the benefits of LPG across the country, various steps have been taken inter alia, including organizing campaigns for improving awareness about PMUY, organizing melas/camps to enroll and distribute connections, promotion through Out of Home(OOH) hoardings, radio jingles, Information, Education and Communication (IEC) Vans etc., spreading awareness about advantages of using LPG over other conventional fuels and safe usage of LPG through LPG Panchayats, enrolment/awareness camps under Viksit Bharat Sankalp Yatra, facilitation of consumers and their families for Aadhar enrolment and opening of bank accounts for getting PMUY connections, simplification of process of getting LPG connection, online application for PMUY connection at www.pmuy.gov.in, nearest LPG distributors, Common Service Centres (CSC) etc., option of 5 Kg Double Bottle Connection(DBC), swap option from 14.2 Kg to 5 Kg, provision for Migrant Families to avail new connection on Self-Declaration instead of Proof of Address and Ration Card. Further, OMCs are continuously commissioning new LPG Distributorships, especially in rural areas. Since the launch of PMUY scheme, OMCs have commissioned 7959 Distributorships (commissioned during 01.04.2016 to 31.12.2024) across the country, out of which 7373 (i.e. 93 %) are catering to rural areas. As a result of Government’s interventions, LPG access in India has improved from 62 % in April 2016 to near saturation now.

    This information was given by THE MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS SHRI SURESH GOPI, in a written reply in Rajya Sabha today.

    ****

    MONIKA

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Carbon Emissions in Mining Operations

    Source: Government of India

    Posted On: 17 MAR 2025 3:37PM by PIB Delhi

    In line with India’s Panchamrit & Nationally Determined Contribution (NDC) commitments, Ministry of Coal is promoting sustainable coal mining and reduction in carbon footprint by encouraging the following:

     

    • Greening Initiatives—Bio-Reclamation/Plantation: The Coal/Lignite PSUs have been constantly making efforts to minimize the footprints of coal mining through sustained reclamation and afforestation of areas in and around their operating mines.
    • Energy Efficiency Measures: Coal/Lignite PSUs have been taking various energy conservation and efficiency measures over the years to reduce carbon intensity such as replacement of conventional lights with LED lights, installation of energy-efficient air conditioners, super fans, deployment of EVs and installation of efficient water heaters, energy-efficient motors for pumps, auto timers in street lights etc.
    • Green Credit Programme: Coal PSUs are also participating in extensive plantation under Green Credit Program launched by MoEF&CC.
    • First Mile Connectivity (FMC) projects: The Coal PSUs have taken steps to upgrade the mechanized coal transportation and loading system under ‘First Mile Connectivity’ projects. Commissioning of FMC projects in coal mining areas reduces consumption of diesel significantly and therefore reduces carbon emissions.
    • Deployment of Blast free technology in coal mining: Coal companies are deploying modern equipment having environment friendly features, like Surface Miner, Continuous Miner in coal mining, which eliminates the drilling, blasting and crushing operations in coal and hence, in turn, obviates pollution caused due to these operations. Rippers are also being deployed for blast-less removal of overburden in some mines.
    • Renewable Energy and clean coal initiatives: Coal PSUs have also started commissioning Renewable Energy power projects. Additionally, they are venturing into various clean coal technologies like Coal gasification, Coal Bed methane (CBM) etc.

    Sustainable coal production is being promoted by ensuring compliance with applicable environmental laws like prior Environmental Clearance (EC), Forest Clearance (FC), Consent to Operate (CTO), Consent to Establish (CTE) etc. In addition, the steps adopted to reduce carbon emissions and environmental impact due to coal mining includes:

     

    • Use of surface miners, continuous miners, highwall / longwall mining, etc.
    • Increasing installation & usage of First Mile Connectivity (FMC) initiatives to reduce coal transport via roads.
    • Improving energy efficiency across coal mining projects.
    • Reclamation and eco-restoration of mined-out areas including development of eco-parks, mine tourism sites, etc.
    • Conceptualizing re-purposing of de-coaled areas for sustainable uses like installation of renewable energy generation plants, development of agricultural avenues for surrounding communities, development of mine sumps, etc.

    At present, there is no specific directive / guideline stipulating the number of times mining companies are required to review their Environmental Impact Assessment (EIA), particularly with reference to carbon emissions.

    This information was given by Union Minister of Coal and Mines Shri G. Kishan Reddy in a written reply in Rajya Sabha today.

    *****

    Shuhaib T

     

    (Release ID: 2111792) Visitor Counter : 66

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Coal Supply and Logistics to Meet Electricity Demand

    Source: Government of India

    Posted On: 17 MAR 2025 3:36PM by PIB Delhi

    There is adequate availability of coal in the country. The focus of the Government is on increasing the domestic production of coal to meet the energy requirement of the country. The country has witnessed highest ever coal production in the year 2023-24. The all-India domestic coal production in the year 2023-2024 was 997.826 MT in comparison to 893.191 MT in the year 2022-2023 with the growth of about 11.71 %.

    In the current year 2024-25, the country has produced 929.15 MT (provisional) of coal (upto February, 2025) in comparison to 881.16 MT in the corresponding period of the last year 2023-24 with a growth rate of 5.45%.

    Ministry of Power communicated their domestic coal requirement of 906.1 million tonnes (MT) for the financial year 2025-26, against which Ministry of Coal (MOC) has conveyed the domestic coal supply plan of 906.1 million tonnes (MT) to the power sector for FY 2025-26.

    As per Central Electricity Authority (CEA), the coal stock at domestic coal-based power plants stands at 53.49 million tonne (MT) as on 10.03.2025, in comparison to 44.51 MT in the corresponding day of the last year 2023-24 with a growth rate of 20.20%. The current coal stock is sufficient for about 20 days at 85% Plant load factor (PLF).

    The supply of coal to the power plants is a continuous process. Coal supply is continuously monitored by the coal companies and also by an Inter-Ministerial Sub-Group comprising of representatives from Ministry of Power, Ministry of Coal, Ministry of Railways, Central Electricity Authority (CEA), Coal India Limited (CIL) and Singareni Collieries Company Limited (SCCL) which meet regularly to take various operational decisions to enhance supply of coal to Thermal Power Plants.

    Besides, an Inter-Ministerial Committee (IMC) has also been constituted comprising of Chairman, Railway Board; Secretary, Ministry of Coal; Secretary, Ministry of Environment, Forest and Climate Change and Secretary, Ministry of Power; to monitor augmentation of coal supply and power generation capacity. Secretary, Ministry of New and Renewable Energy and Chairperson, CEA are co-opted as Special Invitees as and when required by the IMC.

    This information was given by Union Minister of Coal and Mines Shri G. Kishan Reddy in a written reply in Rajya Sabha today.

    *******

    Shuhaib T

    (Release ID: 2111791) Visitor Counter : 62

    MIL OSI Asia Pacific News –

  • MIL-OSI: Diversified Achieves Strong Final Year-End 2024 Results, Delivers on Capital Allocation Promises, and Introduces 2025 Combined Company Outlook

    Source: GlobeNewswire (MIL-OSI)

    2024 Achievements Position Diversified on a Meaningful Path Forward as a Stronger and Larger Company

    Executed Approximately $2 Billion of Acquisitions in an Advantageous Pricing Environment

    Third year of Consistent Operating Costs Despite Broader Industry and Inflationary Pressures

    Maverick Integration Anticipated to Provide Meaningful Financial and Operational Benefits to Drive Free Cash Flow Acceleration

    Created a PDP Solution for Upstream Peers to Facilitate Operated Acquisitions with an Undeveloped Inventory Focus

    BIRMINGHAM, Ala., March 17, 2025 (GLOBE NEWSWIRE) — Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) is pleased to announce its operational and final audited results for the year ended December 31, 2024.

    Diversified remains a differentiated key player in acquiring and building a portfolio of assets through value-accretive transactions while simultaneously unlocking hidden value through its unique operational framework, strategic development partnerships, and growing adjacent business segments, including coal mine methane (CMM), energy marketing and well-retirement. By completing over $4.0 billion of acquisitions since its public listing in 2017, Diversified has built a large-scale integration and operating company that remains focused on delivering de-risked, reliable cash flow for its shareholders. With the combination of maturing assets and M&A activity leading to growth-oriented E&P’s recycling capital through divestment, there remains an ample opportunity set for Diversified’s continued growth. Additionally, with most upstream acquisitions today focusing on increasing undeveloped inventory, Diversified provides a creative and actionable solution as the PDP purchasing partner for those E&P’s that only value inventory.

    Only Publicly Traded Champion of the PDP Subsector with Unique Strategic Advantages

    • Large Operational Scale: Multiple geographies in core basins including Western Anadarko (largest producer), Permian, Appalachia, Barnett and Ark-La-Tex with commodity product diversification
    • Vertical Integration: In-house marketing, extensive midstream network, wholly-owned processing infrastructure, and a well retirement business segment
    • Leading Technology Platform: 100% cloud architecture, supporting well level data capture, information for actionable production optimization, and real-time monitoring which mitigates production downtime
    • Beneficial Financing Solution: Demonstrated ability to access numerous capital solutions, including investment grade, low-cost Asset Backed Securities, commercial banking facilities and equity investment partners
    • Flexible Capital Allocation: shareholder returns-focused model prioritizing Free Cash Flow for systematic debt reduction, fixed dividend payments, opportunistic share repurchases, and accretive acquisitions
    • Proven Process to Capture Synergies: established integration playbook and sophisticated corporate infrastructure provides considerable expense savings and unlocks sustainable value

    Delivering Consistent and Reliable Results in 2024        

    • Delivered average net daily production: 791 MMcfepd (132 MBoepd)
      • December exit rate of 864 MMcfepd (144 MBoepd)
    • Year end 2024 reserves of 4.5 Tcfe (747 MMBoe; PV10 of $3.3 billion(b))
    • Total Revenue, inclusive of hedges of $946 million(e), net of $151 million in commodity cash hedge receipts that supplemented Total Revenue of $795 million
    • Operating Cash Flow of $346 million; Net loss of $87 million, inclusive of $141 million tax-effected, non-cash unsettled derivative fair value adjustments
    • Adjusted EBITDA of $472 million(c); Adjusted Free Cash Flow of $211 million(d)
      • 2024 Adjusted EBITDA Margin of 51%(c)
      • 2024 Adjusted Operating Cost per unit of $1.70/Mcfe ($10.22/Boe)

    Achieving Expectations

    • Recommend a final quarterly dividend of $0.29 per share
    • Generated $49 million of cash proceeds through land sales and Coal Mine Methane Revenues
    • Retired over $200 million in debt principal through amortizing debt payments
    • Returned $105 million to shareholders, including $21 million in share buybacks(h)
    • Completed $585 million (gross) in strategic and bolt-on acquisitions during 2024
    • Retired 202 Diversified wells in Appalachia, marking third consecutive year to exceed 200 wells
    • OGMP Gold Standard and MSCI AA Rating for third and second consecutive year, respectively
    • Decreased Scope 1 methane intensity to 0.7 MT CO2e per MMcfe, a 13% reduction from 2023

    Powerful Step Forward

    • Closed transformative $1.3 billion acquisition of Maverick Natural Resources (“Maverick”)
      • Largest Producer in the Western Anadarko Basin (WAB)
      • Entry into the Permian basin
      • Expecting to achieve over $50 million in annual synergies by year-end 2025
    • Closed the accretive bolt-on acquisition of assets from Summit Natural Resources
      • Anticipate over 300% increase in cash flow from CMM environmental credit sales in the next 24 months
    • Developed a unique partnership to create an innovative, reliable, net-zero data center power solution
    • Enhancing free cash flow growth in 2025 by advantageously added natural gas hedges (related to ABS & recent acquisitions) and planning approximately $40 million from the divestiture of undeveloped leasehold during the first half of 2025

    CEO Rusty Hutson, Jr. commented:

    “Our over 1,600 women and men of Diversified remain the driving force behind our strong operational and financial performance in 2024. Whether it’s natural gas to power the technology of the future or the everyday needs of families and businesses across our operating region, Diversified provides the reliable and sustainable energy needed, and we continue to invest in growing our business while expanding our opportunity set of cash flow generation through verticals in a variety of end markets.

    We have built a Company that remains highly focused on long-term value creation through the growth of our platform and our ability to leverage vertical integration and scale to operate a structurally and dependably higher-margin business that delivers de-risked, consistent cash flow. Our focused strategy, disciplined leadership team, sound operating practices, and the strong demand for natural gas provide us with momentum as we begin the year and the confidence to achieve our full-year 2025 expectations while executing against our capital allocation strategy. We are starting the year in a position of strength as a bigger, better business, and there has never been a more exciting time for our Company and the energy industry. We feel privileged to be at the heart of the energy renaissance as the Right Company at the Right Time to help provide essential energy needs.”

    Combined Company 2025 Outlook

    Following the recently completed acquisition of Maverick, Diversified expects to realize significant operational synergies associated with a larger, consolidated position in Oklahoma and the ability to improve the overall cost structure of the Maverick Natural Resources assets while continuing to prioritize returns and Free Cash Flow generation.

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

      2025 Guidance
    Total Production (Mmcfe/d) 1,050 to 1,100
    % Liquids ~25%
    % Natural Gas ~75%
    Total Capital Expenditures (millions) $165 to $185
    Adj. EBITDA1 (millions) $825 to $875
    Adj. Free Cash Flow1 (millions) ~$420
    Leverage Target 2.0x to 2.5x
    Combined Company Synergies (millions) >$50
    1 Includes the value of anticipated cash proceeds for 2025 land sales
     

    Posting of 2024 Annual Report and Notice of Annual General Meeting

    Diversified has published to the Company’s website its 2024 Annual Report and Notice of AGM, along with the form of proxy for the AGM. These documents can be viewed or downloaded from Diversified’s website at https://ir.div.energy/financial-info.

    The Company has also provided copies of these documents to the National Storage Mechanism that, in accordance with UK Listing Rule 6.4.1R, will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

    Annual General Meeting Arrangements

    The Company’s AGM will be held on April 9, 2025 at 1:00pm BST (8:00am EDT) at the offices of FTI Consulting, 200 Aldersgate, Aldersgate Street, London EC1A 4HD.

    Presentation and Webcast

    DEC will host a conference call today at 12:30 pm GMT (8:30am EDT) to discuss these results. The conference call details are as follows:

    A corporate presentation will be posted to the Company’s website before the conference call. The presentation can be found at https://ir.div.energy/presentations.

    Footnotes:

    (a) Corporate decline rate of ~10% calculated as the change in average daily production for the month of December 2023 (775 MMcfepd), adjusted for the impact of acquisitions and divestitures occurring during the 2024 calendar year, to the average daily production for the month of December 2024.
    (b) Based on the Company’s year-end PDP reserves and using 10-year NYMEX strip, as at December 31, 2024.
    (c) Adjusted EBITDA represents earnings before interest, taxes, depletion, and amortization, and includes adjustments for items that are not comparable period-over-period; As presented, Adjusted EBITDA includes the impact of the accounting basis for land sales; Adjusted EBITDA Margin represents Adjusted EBITDA (excluding the adjustment for the accounting basis on land sales) as a percent of Total Revenue, Inclusive of Settled Hedges; For purposes of comparability, Adjusted EBITDA Margin excludes Other Revenue of $16 million and Lease Operating Expense of $19 million in 2024 associated with Diversified’s wholly owned plugging subsidiary, Next LVL Energy. For more information, please refer to Non-IFRS Measures, below.
    (d) Free Cash Flow represents net cash provided by operating activities less expenditures on natural gas and oil properties and equipment and cash paid for interest; As used herein, Adjusted Free Cash Flow represents Free Cash Flow, plus cash proceeds from undeveloped acreage sales; For more information, please refer to Non-IFRS Measures, below.
    (e) Calculated as total revenue recorded for the period, inclusive of the impact of derivatives settled in cash. For more information, please refer to Non-IFRS Measures, below.
    (f) Calculated as the availability on the Company’s Revolving Credit Facility (“SLL”) and cash on hand (unrestricted)of December 31, 2024; Does not include the impact of Letters of Credit.
    (g) Net Debt-to-Adjusted EBITDA, or “Leverage” or “Leverage Ratio,” is measured as Net Debt divided by Pro Forma Adjusted EBITDA; Pro forma adjusted EBITDA includes adjustments for the year ended December 31, 2024 for the annualized impact of acquisitions completed during the year. Net Debt calculated as of December 31, 2024 and includes total debt as recognized on the balance sheet, less cash and restricted cash; Total debt includes the Company’s borrowings under the Company’s Revolving Credit Facility (“SLL”) and borrowings under or issuances of, as applicable, the Company’s subsidiaries’ securitization facilities. For more information, please refer to Non-IFRS Measures, below.
       

    For Company-specific items, refer also to the Glossary of Terms and/or Alternative Performance Measures found in Diversified’s 2024 Annual Report

    For further information, please contact:  
    Diversified Energy Company PLC +1 973 856 2757
    Doug Kris dkris@dgoc.com
    www.div.energy  
       
    FTI Consulting dec@fticonsulting.com
    U.S. & UK Financial Public Relations  
       

    About Diversified Energy Company PLC

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

    Important Notices

    This announcement may contain certain forward-looking statements, beliefs or opinions, with respect to the financial condition, results of operations and business of the Company, and its wholly owned subsidiaries (“the Group”) following the Maverick Acquisition. These statements, which contain the words “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “will”, “seek”, “continue”, “aim”, “target”, “projected”, “plan”, “goal”, “achieve”, “outlook” and words of similar meaning, reflect the Company’s beliefs and expectations and are based on numerous assumptions regarding the Company’s present and future business strategies and the environment the Company and the Group will operate in and are subject to risks and uncertainties that may cause actual results to differ materially. No representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company or the Group to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company’s or the Group’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as the Company’s or the Group’s ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company or the Group operate or in economic or technological trends or conditions, and the Company’s or Group’s ability to realize expected benefits of the Maverick acquisition. Past performance of the Company cannot be relied on as a guide to future performance. As a result, you are cautioned not to place undue reliance on such forward-looking statements. The list above is not exhaustive and there are other factors that may cause the Company’s or the Group’s actual results to differ materially from the forward-looking statements contained in this announcement, including the risk factors described in the “Risk Factors” section in the Company’s Annual Report and Form 20-F for the year ended December 31, 2024, filed with the United States Securities and Exchange Commission.

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

    The contents of this announcement are not to be construed as legal, business or tax advice. Each shareholder should consult its own legal adviser, financial adviser or tax adviser for legal, financial or tax advice respectively.

    Percentages in tables have been rounded and accordingly may not add up to 100 per cent. Certain financial data have also been rounded. As a result of this rounding, the totals of data presented in this announcement may vary slightly from the actual arithmetic totals of such data.

    Use of Non-IFRS Measures

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

    Non-IFRS Disclosures

    Adjusted EBITDA

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

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

      Year Ended
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Net income (loss) $ (87,001 ) $ 759,701   $ (620,598 )
    Finance costs   137,643     134,166     100,799  
    Accretion of asset retirement obligations   30,868     26,926     27,569  
    Other (income) expense(a)   (1,257 )   (385 )   (269 )
    Income tax (benefit) expense   (136,951 )   240,643     (178,904 )
    Depreciation, depletion and amortization   256,484     224,546     222,257  
    (Gain) loss on bargain purchases   —     —     (4,447 )
    (Gain) loss on fair value adjustments of unsettled financial instruments   189,030     (905,695 )   861,457  
    (Gain) loss on natural gas and oil properties and equipment(b)   15,308     4,014     93  
    (Gain) loss on sale of equity interest   7,375     (18,440 )   —  
    Unrealized (gain) loss on investment   4,013     (4,610 )   —  
    Impairment of proved properties(c)   —     41,616     —  
    Costs associated with acquisitions   11,573     16,775     15,545  
    Other adjusting costs(d)   22,375     17,794     69,967  
    Loss on early retirement of debt   14,753     —     —  
    Non-cash equity compensation   8,286     6,494     8,051  
    (Gain) loss on foreign currency hedge   —     521     —  
    (Gain) loss on interest rate swap   (190 )   2,722     1,434  
    Total adjustments $ 559,310   $ (212,913 ) $ 1,123,552  
    Adjusted EBITDA $ 472,309   $ 546,788   $ 502,954  
    Pro forma adjusted EBITDA(e) $ 548,570   $ 553,252   $ 574,414  
    1. Excludes $1 million in dividend distributions received for our investment in DP Lion Equity Holdco during the year ended December 31, 2024.
    2. Excludes $27 million, $24 million and $2 million in cash proceeds received for leasehold sales during the years ended December 31, 2024, 2023 and 2022, respectively, less $14 million and $4 million of basis in leasehold sales for the years ended December 31, 2024 and 2023, respectively.
    3. For the year ended December 31, 2023, the Group determined the carrying amounts of certain proved properties within two fields were not recoverable from future cash flows, and therefore, were impaired.
    4. Other adjusting costs for the year ended December 31, 2024, were primarily associated with legal and professional fees related to the U.S. listing, legal fees for certain litigation, and expenses associated with unused firm transportation agreements. For the year ended December 31, 2023, these costs were primarily related to legal and professional fees for the U.S. listing, legal fees for certain litigation, and expenses for unused firm transportation agreements. For the year ended December 31, 2022, these costs mainly included $28 million in contract terminations, which enabled the Group to secure more favorable future pricing, and $31 million in deal breakage and/or sourcing costs for acquisitions.
    5. Includes adjustments for the year ended December 31, 2024 for the Oaktree, Crescent Pass, and East Texas II acquisitions to pro forma their results for the full twelve months of operations. Similar adjustments were made for the year ended December 31, 2023 for the Tanos II Acquisition, as well as for the year ended December 31, 2022 for the East Texas I and ConocoPhillips acquisitions.

    Total Revenue, Inclusive of Hedges and Adjusted EBITDA Margin

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

    As used herein, adjusted EBITDA margin is calculated as adjusted EBITDA expressed as a percentage of total revenue, inclusive of settled hedges. Adjusted EBITDA margin encompasses the direct operating costs and the portion of general and administrative costs required to produce each Mcfe. This metric includes operating expense, employee costs, administrative costs and professional services, and recurring allowance for credit losses, which cover both fixed and variable costs components. We believe that adjusted EBITDA margin is a useful measure of our profitability and efficiency, as well as our earnings quality, because it evaluates the Group on a more comparable basis period-over-period, especially given our frequent involvement in transactions that are not comparable between periods.

      Year Ended
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Total revenue $ 794,841   $ 868,263   $ 1,919,349  
    Net gain (loss) on commodity derivative instruments(a)   151,289     178,064     (895,802 )
    Total revenue, inclusive of settled hedges $ 946,130   $ 1,046,327   $ 1,023,547  
    Adjusted EBITDA $ 472,309   $ 546,788   $ 502,954  
    Adjusted EBITDA margin   50 %   52 %   49 %
    Adjusted EBITDA margin, excluding Next LVL Energy   51 %   53 %   50 %
    1. Net gain (loss) on commodity derivative settlements represents the cash paid or received on commodity derivative contracts. This excludes settlements on foreign currency and interest rate derivatives, as well as the gain (loss) on fair value adjustments for unsettled financial instruments for each of the periods presented.

    Free Cash Flow

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

      Year Ended
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Net cash provided by operating activities $ 345,663   $ 410,132   $ 387,764  
    LESS: Expenditures on natural gas and oil properties and equipment   (52,100 )   (74,252 )   (86,079 )
    LESS: Cash paid for interest   (123,141 )   (116,784 )   (83,958 )
    Free cash flow $ 170,422   $ 219,096   $ 217,727  
    Cash generated through divestitures of land $ 40,986   $ 28,160   $ 2,472  
    Adjusted free cash flow $ 211,408   $ 247,256   $ 220,199  


    Net Debt and Net Debt-to-Adjusted EBITDA (“Leverage”)

    As used herein, net debt represents total debt as recognized on the balance sheet, minus cash and restricted cash. Total debt includes borrowings under our Credit Facility and borrowings under, or issuances of, our subsidiaries’ securitization facilities. We believe net debt is a useful indicator of our leverage and capital structure.

    As used herein, net debt-to-adjusted EBITDA, also referred to as “leverage” or the “leverage ratio,” is calculated by dividing net debt by adjusted EBITDA. We believe this metric is a crucial measure of our financial liquidity and flexibility, and it is also used in the calculation of a key metric in one of our Credit Facility financial covenants.

      As of
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Total debt(a) $ 1,693,242   $ 1,276,627   $ 1,440,329  
    LESS: Cash   5,990     3,753     7,329  
    LESS: Restricted cash(b)   46,269     36,252     55,388  
    Net debt $ 1,640,983   $ 1,236,622   $ 1,377,612  
           
    Adjusted EBITDA $ 472,309,000   $ 546,788,000   $ 502,954,000  
    Pro forma adjusted EBITDA(c) $ 548,570   $ 553,252   $ 574,414  
    Net debt-to-pro forma adjusted EBITDA(d) 2.9x
    		   2.2x
    		   2.4x
    		  
    1. Includes adjustments for deferred financing costs and original issue discounts, consistent with presentation on the Statement of Financial Position.
    2. The increase of restricted cash as of December 31, 2024, is due to the addition of $21 million and $3 million in restricted cash for the ABS VIII Notes and ABS IX Notes, respectively, offset by $7 million and $9 million for the retirement of the ABS III Notes and ABS V Notes, respectively.
    3. Includes adjustments for the year ended December 31, 2024 for the Oaktree, Crescent Pass, and East Texas II acquisitions to pro forma their results for the full twelve months of operations. Similar adjustments were made for the year ended December 31, 2023 for the Tanos II Acquisition, as well as for the year ended December 31, 2022 for the East Texas I and ConocoPhillips acquisitions.
    4. Excludes long-term plant financing of $30 million for the year ended December 31, 2024.

    The MIL Network –

  • MIL-OSI Russia: Bashneft’s “green” investments in 2024 amounted to 9.5 billion rubles

    Translartion. Region: Russians Fedetion –

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

    Bashneft (part of Rosneft) allocated 9.5 billion rubles for environmental projects in 2024. Over the past five years, Bashneft’s green investments have exceeded 37.6 billion rubles.

    Preservation of the environment for future generations is an integral part of the corporate culture of Rosneft Oil Company. The activities of all the Company’s enterprises are aimed at achieving leadership positions in the field of minimizing the impact on the environment and improving the environmental friendliness of production.

    One of the significant areas of Bashneft’s environmental activities is the restoration of forests and aquatic bioresources. In 2024, the Company’s employees planted almost 750 thousand trees on an area of more than 200 hectares in the Republic of Bashkortostan, the Khanty-Mansi Autonomous Okrug – Yugra and the Nenets Autonomous Okrug. This figure exceeds the results of the previous period by 45%.

    As part of initiatives to preserve ecosystems and maintain biodiversity in the regions where it operates, Bashneft is implementing projects to reproduce aquatic bioresources. Oil workers have released more than 160,000 sterlet, muksun and salmon fry into the water bodies of Bashkortostan, the Khanty-Mansiysk and Nenets Autonomous Okrugs. The releases were carried out under the supervision of employees of the departments of state control, supervision and protection of aquatic biological resources, who select suitable water bodies based on optimal conditions for reproduction and restoration of the population.

    The biological treatment facilities of the Ufa group of oil refineries have processed 157 million m3 of wastewater since their launch in 2019. The biological treatment facilities serve not only the Bashneft oil refineries, but also treat wastewater from more than 50 enterprises in the northern industrial zone of Ufa and stormwater. The treatment facilities provide the highest level of purification of industrial, stormwater and domestic wastewater, which increases the volume of reused water in technological processes by 2.5 times. Thanks to the membrane reactor technology, all impurities and microorganisms are removed from the wastewater. As a result, the water quality meets the standards for water bodies used for fisheries.

    Reference:

    ANK Bashneft is one of the oldest enterprises in the country’s oil and gas industry, operating in the extraction and processing of oil and gas. The company’s key assets, including an oil refining and petrochemical complex, are located in the Republic of Bashkortostan. Oil and gas exploration and production are also carried out in the Khanty-Mansiysk Autonomous Okrug – Yugra, the Nenets Autonomous Okrug, the Orenburg Region, the Perm Territory and the Republic of Tatarstan.

    Department of Information and Advertising of PJSC NK Rosneft March 17, 2025

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

    MIL OSI Russia News –

  • MIL-OSI: Ortus Energy and SSE Energy Solutions drive solar adoption at KIA Stockton

    Source: GlobeNewswire (MIL-OSI)

    STOCKTON-ON-TEES, United Kingdom, March 17, 2025 (GLOBE NEWSWIRE) — Ortus Energy, in partnership with SSE Energy Solutions, is pleased to announce the development of a significant solar energy project at the Kia Stockton dealership, in Stockton-On-Tees.

    This initiative reinforces both companies’ commitment to supporting businesses in their transition to clean energy solutions.

    The project has seen the installation of a 601 kWp solar PV system, optimised to maximise the clean energy used at the site. This system is projected to generate 538,000 kWh of clean energy annually, meeting approximately 45% of Kia Stockton’s electricity needs.

    Kia Stockton is demonstrating a strong commitment to sustainability and environmental responsibility with this new solar energy project. By embracing solar power, the dealership will significantly reduce its carbon footprint by 110 tonnes of CO2 per year.

    SSE Energy Solutions is financing the solar installation and has signed a long-term Power Purchase Agreement (PPA) with Kia Stockton, which will enable the dealership to pay a fixed rate for the power generated over 25 years without the need for any upfront investment. PPAs on projects such as Kia Stockton enable businesses to hedge against the volatility of wholesale energy prices, access clean energy to meet their sustainability goals, and gain greater predictability in their energy expenditure.

    “We are thrilled to partner with Kia Stockton and SSE Energy Solutions on this project,” said Alistair Booth, CEO at Ortus Energy. “This installation showcases the growing demand for solar solutions among businesses seeking to reduce their environmental impact and operating costs. It’s a testament to the strength of our partnership with SSE Energy Solutions and our shared commitment to driving the adoption of renewable energy across the UK.”

    “We are excited to partner with Ortus Energy and SSE Energy Solutions on this important initiative,” said Sohail Khan, Managing Director at Opus Motor Group/ Kia Stockton. “This solar project aligns with our commitment to environmental stewardship and will help us reduce our operating costs while providing clean energy for our business and EV Driving Customers.”

    ​​“We are proud of our partnership with Ortus Energy, as we support businesses in driving down costs and emissions. This project is an exciting opportunity, made possible by SSE Energy Solutions funding through a Power Purchase Agreement (PPA), offering an affordable route to renewable energy generation for Kia Stockton.” Jon Kirby, Head of Development at SSE Energy Solutions.

    This project highlights the continued success of the partnership between Ortus Energy and SSE Energy Solutions, which focuses on delivering bespoke solar solutions to businesses across the UK. By combining Ortus Energy’s expertise in solar development with SSE Energy Solutions’ strength and market knowledge, the two companies are accelerating the transition to a cleaner, more sustainable energy future.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/51d2c9d1-0468-4d10-9ca4-caddfa22bfa5

    The MIL Network –

  • MIL-OSI United Kingdom: Council secures more than £3.4 million funding for warmer homes

    Source: City of York

    Published Friday, 14 March 2025

    Council leaders have confirmed that City of York Council will receive more than £3.4 million of funding thanks to 2 separate grants.

    The funding, announced this week by the Department for Energy Security and Net Zero, will be used to upgrade around 280 homes over the next 3 years, to reduce carbon emissions and fuel poverty and improve the comfort and health of council homes.

    The first grant of around £1.4 million will be used to improve the energy efficiency of around 140 council homes via the Warm Homes: Social Housing Fund.

    The second grant of around £2 million will be used to improve the energy efficiency of around 140 homes for lower income homeowners through the Warm Homes: Local Grant Scheme.

    These works build on improving 73 council homes to which 141 energy-efficiency measures have been installed. And they add to the 211 homes of lower-income owners to which have been added 241 new energy efficiency measures. The measures include:

    • loft, flat roof, external wall and cavity wall insulation
    • air source heat pumps
    • smart heating controls
    • solar photovoltaic panels to generate electricity

    To support eligible owners and landlords of draughty, listed buildings or of homes in conservation areas, the council’s Local Energy Advice Demonstrator (LEAD) Project has given 452 pieces of advice since November 2023. This project’s funding ends on 31 March 2025, so find out more about the LEAD Home Energy Advice Scheme, or call 01904 555520 or email: saveenergy@york.gov.uk.

    Cllr Michael Pavlovic, Executive Member for Housing at City of York Council, said:

    We know that making York’s homes warmer and better insulated is a huge benefit to residents, financially and in terms of the positive impact on their wellbeing.

    “With rising energy costs and continued concerns around climate change, it’s essential that these improvements are made as soon as possible so that residents will see the benefits for years to come.

    “For free advice, assessment and coordination of energy saving measures, York residents who aren’t eligible for the LEAD scheme, should contact YorEnergy by calling 01904 211221 or emailing: hello@yorenergy.co.uk.”

    Further details about how to apply for the next phase of retrofit works will be announced as soon as possible. Meanwhile, see more information about home energy efficiency.

    An update on the council’s retrofit programme was discussed at Executive on Tuesday, 11 March 2025.

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Samsung To Showcase Diverse HVAC Solutions at ISH 2025 Under ‘Connected Flow’ Theme

    Source: Samsung

     
    Samsung Electronics today announced its participation in ISH 2025,1 the world’s leading trade fair for the sanitary and HVAC industries, to be held March 17-21 in Frankfurt. Samsung will showcase innovative solutions designed to enhance comfort, convenience and connectivity across residential and commercial environments.
     
    “This year marks our second time participating in ISH after our debut in 2023, and we’re excited to present more advanced products along with a variety of smart solutions such as SmartThings Pro and b.IoT Lite,2 that align with the ‘Connected Flow’ theme,” said Wim Vangeenberghe, Vice President of Samsung Electronics Air Conditioner Europe B.V. “It’s a meaningful opportunity to showcase our next-generation innovations and underline our commitment to delivering smarter living experiences.”
     
     
    Product Exhibition: Highlighting Advanced HVAC Solutions

     
    At ISH 2025, Samsung will display a wide array of systems and solutions, including Slim Fit EHS ClimateHub and Mono R290, touch controllers, Wi-Fi modules and other solutions. One of the key highlights will be the unveiling of the new Bespoke AI WindFree air conditioner models, which have been designed to elevate comfort and usability.
     
    The new Bespoke AI WindFree air conditioners for 2025 feature AI3 Fast & Comfort Cooling, which employs AI technology to provide rapid cooling and meet users’ preferences. When turning on the mode, Fast Cooling quickly lowers the room temperature first. AI technology then continuously analyzes the indoor and outdoor environments to detect if it’s reaching the user’s preferred temperature, and then it switches its mode into WindFree Cooling.
     

     
    Additionally, new Comfort Drying technology enables dehumidification without cold drafts. While conventional dry modes reduce the set temperature for dehumidification, Comfort Drying maintains a comfort humidity level under temperatures set by the user, satisfying customers who do not want to feel cold during dehumidification. Also, users can utilize AI Energy Mode in SmartThings application to reduce energy use by up to 30%.4 This is possible as the compressor’s rotating frequency is controlled by AI analysis, preventing sudden stops or increases.
     
     
    Design Excellence Recognized

     
    Samsung also announced that its Slim Fit EHS ClimateHub indoor units — the ClimateHub Mono and the Hydro Unit Mono5 — have won the prestigious Designplus Award in the “Water & Efficiency +” category at ISH 2025. This award acknowledges products that combine innovative design with technology, with a focus on new concepts that deliver added value through technological advancements.
     
    These models have a slim fit design6 that allows the product to be installed in various locations and coordinates with anywhere in the house. Despite the slim fit design, key components like magnetic filters, three-way valves and an expansion vessel for space heating are all included as standard features, which ensures timely installation. Moreover, they come with the 7” AI Home,7 an expansive screen that significantly improves convenience. It allows users to intuitively control the temperature and settings. Additionally, users can monitor the status and energy usage8 of connected solar photovoltaic (PV) systems using the zone overview, as well as control other SmartThings-connected appliances.9

     
     
    Seamless Integration: SmartThings Pro for Advanced Business Environment
    In line with the “Connected Flow” theme, Samsung will also demonstrate the benefits of smart solutions utilizing SmartThings Pro10 through various scenarios and spaces. Visitors will see how SmartThings Pro makes it easy to create a customized business environment with Samsung appliances and some third-party devices — like light bulbs and solar cells — and facilitates comprehensive energy monitoring across the entire home.
     
    Additionally, Samsung will showcase SmartThings Pro and b.IoT Lite for business environments and solutions for commercial spaces like hotels and retail stores. These solutions enhance operational efficiency, enabling smarter management of heating, cooling and energy consumption.
     
    Samsung remains committed to expanding its HVAC business globally and continue to innovate and provide innovative climate solutions to customers worldwide. Visitors to Samsung’s booth at ISH 2025 will have the opportunity to explore new products packed with these technologies, engage with representatives and experience the future of HVAC solutions firsthand.
     
     
    1 The “Internationale Sanitär- und Heizungsmesse” (ISH) translates from German to “International Sanitation and Heating Fair.”2 b.IoT Lite is an integrated control solution designed to optimize the operation of VRF systems in small to medium-sized buildings. As a server-based platform, it provides advanced functionality such as predictive maintenance and energy management.3 To use AI Auto Cooling, a Wi-Fi connection and Samsung account SmartThings are required.4 The testing was conducted in Samsung’s 132m² residential environment laboratory at a temperature of 35°C / 24°C (dry bulb/wet bulb, KS C 9306: air conditioner). Results provided to and interpreted by Intertek, comparing the power consumption between AI energy mode on and off in AI comfort mode of AR07D9181HZN model. Actual savings may vary by usage patterns and environment and the set temperature may increase by up to 2 degrees. Requires the use of the SmartThings App and a Samsung account.5 The ClimateHub Mono has an integrated water tank, while the Hydro Unit Mono is a wall-mounted unit without a water tank.6 Dimensions: ClimateHub Mono = 598(W) x 1,850(H) x 600(D) mm, Hydro Unit Mono = 530(W) x 840(H) x 350(D) mm.7 AI Home refers to the 7’’ LCD screen on the product. Does not mean all services available on the AI Home are AI or generate information or outcome using AI. Certain functions accessible through the AI Home utilize AI-based algorithms, which may be updated periodically to improve accuracy. AI-based algorithms may generate incomplete or incorrect information. A Wi-Fi connection and a Samsung account are required. You may need to use a separate device e.g. your laptop/desktop or mobile device, to create/log into a Samsung Account. If you choose not to log-in, you will not be able to enjoy any features available on AI Home, such as the services available on the SmartThings App.8 Requires a connection between the EHS and PV system and is activated using the PV function in AI Home.9 Requires a Samsung account. Appliances must be connected to the Wi-Fi network and registered in the SmartThings App.10 Must download the SmartThings app available on Android and iOS. A Wi-Fi connection and a Samsung account are required.

    MIL OSI Economics –

  • MIL-OSI Banking: Samsung To Showcase Diverse HVAC Solutions at ISH 2025 Under ‘Connected Flow’ Theme

    Source: Samsung

     
    Samsung Electronics today announced its participation in ISH 2025,1 the world’s leading trade fair for the sanitary and HVAC industries, to be held March 17-21 in Frankfurt. Samsung will showcase innovative solutions designed to enhance comfort, convenience and connectivity across residential and commercial environments.
     
    “This year marks our second time participating in ISH after our debut in 2023, and we’re excited to present more advanced products along with a variety of smart solutions such as SmartThings Pro and b.IoT Lite,2 that align with the ‘Connected Flow’ theme,” said Wim Vangeenberghe, Vice President of Samsung Electronics Air Conditioner Europe B.V. “It’s a meaningful opportunity to showcase our next-generation innovations and underline our commitment to delivering smarter living experiences.”
     
     
    Product Exhibition: Highlighting Advanced HVAC Solutions

     
    At ISH 2025, Samsung will display a wide array of systems and solutions, including Slim Fit EHS ClimateHub and Mono R290, touch controllers, Wi-Fi modules and other solutions. One of the key highlights will be the unveiling of the new Bespoke AI WindFree air conditioner models, which have been designed to elevate comfort and usability.
     
    The new Bespoke AI WindFree air conditioners for 2025 feature AI3 Fast & Comfort Cooling, which employs AI technology to provide rapid cooling and meet users’ preferences. When turning on the mode, Fast Cooling quickly lowers the room temperature first. AI technology then continuously analyzes the indoor and outdoor environments to detect if it’s reaching the user’s preferred temperature, and then it switches its mode into WindFree Cooling.
     

     
    Additionally, new Comfort Drying technology enables dehumidification without cold drafts. While conventional dry modes reduce the set temperature for dehumidification, Comfort Drying maintains a comfort humidity level under temperatures set by the user, satisfying customers who do not want to feel cold during dehumidification. Also, users can utilize AI Energy Mode in SmartThings application to reduce energy use by up to 30%.4 This is possible as the compressor’s rotating frequency is controlled by AI analysis, preventing sudden stops or increases.
     
     
    Design Excellence Recognized

     
    Samsung also announced that its Slim Fit EHS ClimateHub indoor units — the ClimateHub Mono and the Hydro Unit Mono5 — have won the prestigious Designplus Award in the “Water & Efficiency +” category at ISH 2025. This award acknowledges products that combine innovative design with technology, with a focus on new concepts that deliver added value through technological advancements.
     
    These models have a slim fit design6 that allows the product to be installed in various locations and coordinates with anywhere in the house. Despite the slim fit design, key components like magnetic filters, three-way valves and an expansion vessel for space heating are all included as standard features, which ensures timely installation. Moreover, they come with the 7” AI Home,7 an expansive screen that significantly improves convenience. It allows users to intuitively control the temperature and settings. Additionally, users can monitor the status and energy usage8 of connected solar photovoltaic (PV) systems using the zone overview, as well as control other SmartThings-connected appliances.9

     
     
    Seamless Integration: SmartThings Pro for Advanced Business Environment
    In line with the “Connected Flow” theme, Samsung will also demonstrate the benefits of smart solutions utilizing SmartThings Pro10 through various scenarios and spaces. Visitors will see how SmartThings Pro makes it easy to create a customized business environment with Samsung appliances and some third-party devices — like light bulbs and solar cells — and facilitates comprehensive energy monitoring across the entire home.
     
    Additionally, Samsung will showcase SmartThings Pro and b.IoT Lite for business environments and solutions for commercial spaces like hotels and retail stores. These solutions enhance operational efficiency, enabling smarter management of heating, cooling and energy consumption.
     
    Samsung remains committed to expanding its HVAC business globally and continue to innovate and provide innovative climate solutions to customers worldwide. Visitors to Samsung’s booth at ISH 2025 will have the opportunity to explore new products packed with these technologies, engage with representatives and experience the future of HVAC solutions firsthand.
     
     
    1 The “Internationale Sanitär- und Heizungsmesse” (ISH) translates from German to “International Sanitation and Heating Fair.”2 b.IoT Lite is an integrated control solution designed to optimize the operation of VRF systems in small to medium-sized buildings. As a server-based platform, it provides advanced functionality such as predictive maintenance and energy management.3 To use AI Auto Cooling, a Wi-Fi connection and Samsung account SmartThings are required.4 The testing was conducted in Samsung’s 132m² residential environment laboratory at a temperature of 35°C / 24°C (dry bulb/wet bulb, KS C 9306: air conditioner). Results provided to and interpreted by Intertek, comparing the power consumption between AI energy mode on and off in AI comfort mode of AR07D9181HZN model. Actual savings may vary by usage patterns and environment and the set temperature may increase by up to 2 degrees. Requires the use of the SmartThings App and a Samsung account.5 The ClimateHub Mono has an integrated water tank, while the Hydro Unit Mono is a wall-mounted unit without a water tank.6 Dimensions: ClimateHub Mono = 598(W) x 1,850(H) x 600(D) mm, Hydro Unit Mono = 530(W) x 840(H) x 350(D) mm.7 AI Home refers to the 7’’ LCD screen on the product. Does not mean all services available on the AI Home are AI or generate information or outcome using AI. Certain functions accessible through the AI Home utilize AI-based algorithms, which may be updated periodically to improve accuracy. AI-based algorithms may generate incomplete or incorrect information. A Wi-Fi connection and a Samsung account are required. You may need to use a separate device e.g. your laptop/desktop or mobile device, to create/log into a Samsung Account. If you choose not to log-in, you will not be able to enjoy any features available on AI Home, such as the services available on the SmartThings App.8 Requires a connection between the EHS and PV system and is activated using the PV function in AI Home.9 Requires a Samsung account. Appliances must be connected to the Wi-Fi network and registered in the SmartThings App.10 Must download the SmartThings app available on Android and iOS. A Wi-Fi connection and a Samsung account are required.

    MIL OSI Global Banks –

  • MIL-OSI Russia: NSU track and field athletes successfully completed the winter competition season

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    The Koltsovo Manege hosted two interregional track and field competitions: the Koltsovo Mayor’s Prize and the National Student Cup among students of higher education institutions of the Siberian Federal District. These were the last starts of the winter season, and NSU students showed good results.

    In the Mayor’s Prize competition in the 800 m race, 2nd place was taken by Nika Sigunova (EF), the result of 2.10.78, and 3rd place by Nikita Bosak (MMF), the result of 1.56.27. The top six in the same distance included Alexey Chviruk (MMF) and Miron Gaskov (FIT), and Yana Stepanchuk (FEN) became fifth in the long jump.

    12 universities from different cities of Siberia took part in the National Student Cup, and the NSU team took 5th place in the team standings.

    In the individual championship, FIT student Miron Gaskov managed to win the 600 m race with a record of the arena!

    The team also included:

    Danil Kasyanov, Gleb Mamonov, Daria Zavalishina and Olga Trofimova (MMF), Alexander Lapushinsky and Irina Katsuk (FIT), Andrey Birkin and Danil Merzaev (EF), Ksenia Zubareva (FEN), Arseniy Tikhanchik (IFP) and Artem Golovin (GI)

    Congratulations to the winners of the medals of the interregional status competitions! We thank the team and the coach – teacher of the KAFV Anton Mamekov for a good performance and wish you success in the upcoming summer competition season!

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

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: First meeting of Great British Energy board members

    Source: United Kingdom – Executive Government & Departments

    Press release

    First meeting of Great British Energy board members

    Inaugural meeting of the Great British Energy start-up board takes place in Aberdeen to drive the UK’s clean energy future.

    • Great British Energy start-up board meet for the first time in Aberdeen 

    • Publicly owned company will drive forward the government’s Plan for Change and clean energy superpower mission, backed by £8.3 billion  

    Great British Energy’s start-up board members will meet in Aberdeen today (Monday 17 March) to discuss scaling up the company and kickstarting investments, to deliver the government’s Plan for Change and clean energy superpower mission. 

    Great British Energy is owned by the British people, for the British people, and will own and invest in clean energy projects across the UK to create good, skilled jobs and growth.    

    Energy Minister Michael Shanks will convene the meeting alongside Start-up Chair Juergen Maier and interim CEO Dan McGrail to discuss next steps for the organisation and building up an investment portfolio that will return a profit for the British people. 

    Great British Energy has already begun engaging with the market on potential collaborations to ensure it can quickly start delivering for the British taxpayer once it is fully established, backed by £8.3 billion over this Parliament.  

    Energy Minister Michael Shanks said: 

    We now have a fantastic team in place to lead Great British Energy and establish the company in Aberdeen. 

    By unlocking homegrown clean power projects, Great British Energy will support thousands of well-paid jobs in Scotland and across the country, and deliver energy security for the British people. 

    Today’s meeting of the new board members marks another step forward for the company as it gears up to make its first investments. 

    Great British Energy Start-up Chair Juergen Maier said: 

    We are working on a plan to invest in and deliver homegrown clean power, supporting the next generation of energy jobs.  

    We are already engaging with industry on exciting investment opportunities so we can hit the ground running once Great British Energy is fully established. 

    Together we will back British innovation and support the creation of thousands of jobs in clean energy projects and their supply chains in the North East of Scotland alone. 

    Interim Great British Energy CEO Dan McGrail said: 

    Great British Energy is perfectly placed to take advantage of the clean energy revolution for the benefit of the British people. As I take up post as interim CEO today, I’m pleased to bring our new board members together in Aberdeen to discuss our plans to invest in secure, homegrown clean power – unleashing jobs and crowding in private investment. 

    It follows the appointment of the interim CEO, five non-executive directors, and chair to the company’s start-up board. On Tuesday 18 March, Juergen Maier will convene a skills roundtable to work with industry to help oil and gas workers in north-east Scotland access opportunities in clean energy jobs. The roundtable is due to be attended by organisations including Skills Development Scotland, Scottish Trades Union Congress, Green Free Ports Cromarty and Leith, ETZ Ltd and Aberdeen & Grampian Chambers of Commerce.  

    Background

    Great British Energy start-up board members include: 

    • Chair of Great British Energy Juergen Maier 

    • Interim CEO of Great British Energy Dan McGrail 

    • Minister for Energy Michael Shanks 

    • Non-Executive Directors of Great British Energy: 

    • Frances O’Grady  

    • Frank Mitchell  

    • Kate Gilmartin  

    • Dr. Nina Skorupska CBE FEI  

    • Valerie Todd CBE

    Updates to this page

    Published 17 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Investing in renewables revolution

    Source: Scottish Government

    £10 million planned for Port of Nigg project.

    Public investment is planned for a major redevelopment project at Port of Nigg in the Highlands.

    Highlands and Islands Enterprise (HIE) has approved up to £10 million to support development of the port’s Inner East Quay, which will result in the creation of a new heavy-duty quayside and the introduction of roll-on roll-off capability.

    The project, which is subject to formal approval by Global Energy Nigg Limited, will increase capacity and capabilities at the port, attracting new companies and investment while supporting operations across the country’s growing offshore wind operations.

    HIE’s investment forms part of the Scottish Government’s commitment to strategically invest up to £500m over five years to anchor the nation’s offshore wind supply chain.

    Port of Nigg is recognised by developers as a prime location for the manufacturing and assembly of offshore wind components and has a significant track record within Scotland’s offshore wind industry, having managed over 3.5GW of assets through the facility.

    In 2024, high voltage cable manufacturer Sumitomo Electric Power Cables Ltd chose to establish a £350 million high voltage cable manufacturing facility in the area – with Nigg serving as the primary export facility.

    Deputy First Minister Kate Forbes said:

    “This is a prime example of how we and our enterprise agencies are focused on stimulating investment and targeting projects that will in turn act as a catalyst to further investment, jobs and opportunities.

    “Given its location and being part of Inverness and Cromarty Firth Green Freeport, The Port of Nigg is strategically important to the growth and success of the offshore wind sector. An investment of this nature sends a clear signal to investors that Scotland is open for business, and the Scottish Government and our partners stand ready to help unleash the enormous economic benefits of our offshore wind industry.”

    HIE’s director of strategic projects David Oxley, said:

    “Our support for this project is about keeping the UK and the Highlands and Islands region at the forefront of the energy sector, particularly renewable energy, and strengthening our international competitiveness.

    “There are many obvious benefits for the region’s economy and job creation. I’m delighted we’ve been able to facilitate further Scottish Government funding and look forward to continuing our collaboration with our public sector partners and industry as the project develops.”

    Chairman of Global Energy Group Roy MacGregor, said:

    “We welcome this significant investment from HIE and the Scottish Government, which reinforces their commitment to strengthening Scotland’s offshore wind supply chain. Since acquiring Nigg in 2011, we have invested more than £120 million in transforming the facility into a world-class offshore wind superhub, ensuring it remains at the forefront of the energy transition.

    “Today, renewables account for half of our revenue at both GEG and Nigg, underlining the critical role this sector plays in our business and the wider economy. Strategically positioned to support Scotland’s future offshore wind projects through ScotWind and INTOG, Nigg will drive sustainable job creation and long-term economic prosperity for the Highlands.”

    Background

    This project is being led by Global Energy Nigg Limited, a subsidiary of Global Energy Group (which acquired the Port of Nigg in 2011) and the agreed HIE funding is subject to formal approval by the company.

    The Port of Nigg project is expected to create around five jobs directly while supporting more than a hundred downstream at Nigg in further supply chain activity at the port.

    Sumitomo’s decision to base a facility in Scotland was secured with £24.5 million investment from the Scottish Government, HIE and Scottish Enterprise and is expected to create around 330 jobs over the next 10 year

    Recent investments made as part of the Scottish Government’s commitment of up to £500 million include:

    Scottish Ministers will host a Global Offshore Wind Investment Forum today as part of a Green Industrial Strategy commitment to raise the profile of Scotland as a destination for capital investment.

    MIL OSI United Kingdom –

  • MIL-OSI: Final Results for the Year-Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    Diversified Achieves Strong Final Year-End 2024 Results, Delivers on Capital Allocation Promises, and Introduces 2025 Combined Company Outlook

    2024 Achievements Position Diversified on a Meaningful Path Forward as a Stronger and Larger Company

    Executed Approximately $2 Billion of Acquisitions in an Advantageous Pricing Environment

    Third year of Consistent Operating Costs Despite Broader Industry and Inflationary Pressures

    Maverick Integration Anticipated to Provide Meaningful Financial and Operational Benefits to Drive Free Cash Flow Acceleration

    Created a PDP Solution for Upstream Peers to Facilitate Operated Acquisitions with an Undeveloped Inventory Focus

    BIRMINGHAM, Ala., March 17, 2025 (GLOBE NEWSWIRE) — Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) is pleased to announce its operational and final audited results for the year ended December 31, 2024.

    Diversified remains a differentiated key player in acquiring and building a portfolio of assets through value-accretive transactions while simultaneously unlocking hidden value through its unique operational framework, strategic development partnerships, and growing adjacent business segments, including coal mine methane (CMM), energy marketing and well-retirement. By completing over $4.0 billion of acquisitions since its public listing in 2017, Diversified has built a large-scale integration and operating company that remains focused on delivering de-risked, reliable cash flow for its shareholders. With the combination of maturing assets and M&A activity leading to growth-oriented E&P’s recycling capital through divestment, there remains an ample opportunity set for Diversified’s continued growth. Additionally, with most upstream acquisitions today focusing on increasing undeveloped inventory, Diversified provides a creative and actionable solution as the PDP purchasing partner for those E&P’s that only value inventory.

    Only Publicly Traded Champion of the PDP Subsector with Unique Strategic Advantages

    • Large Operational Scale: Multiple geographies in core basins including Western Anadarko (largest producer), Permian, Appalachia, Barnett and Ark-La-Tex with commodity product diversification
    • Vertical Integration: In-house marketing, extensive midstream network, wholly-owned processing infrastructure, and a well retirement business segment
    • Leading Technology Platform: 100% cloud architecture, supporting well level data capture, information for actionable production optimization, and real-time monitoring which mitigates production downtime
    • Beneficial Financing Solution: Demonstrated ability to access numerous capital solutions, including investment grade, low-cost Asset Backed Securities, commercial banking facilities and equity investment partners
    • Flexible Capital Allocation: shareholder returns-focused model prioritizing Free Cash Flow for systematic debt reduction, fixed dividend payments, opportunistic share repurchases, and accretive acquisitions
    • Proven Process to Capture Synergies: established integration playbook and sophisticated corporate infrastructure provides considerable expense savings and unlocks sustainable value

    Delivering Consistent and Reliable Results in 2024        

    • Delivered average net daily production: 791 MMcfepd (132 MBoepd)
      • December exit rate of 864 MMcfepd (144 MBoepd)
    • Year end 2024 reserves of 4.5 Tcfe (747 MMBoe; PV10 of $3.3 billion(b))
    • Total Revenue, inclusive of hedges of $946 million(e), net of $151 million in commodity cash hedge receipts that supplemented Total Revenue of $795 million
    • Operating Cash Flow of $346 million; Net loss of $87 million, inclusive of $141 million tax-effected, non-cash unsettled derivative fair value adjustments
    • Adjusted EBITDA of $472 million(c); Adjusted Free Cash Flow of $211 million(d)
      • 2024 Adjusted EBITDA Margin of 51%(c)
      • 2024 Adjusted Operating Cost per unit of $1.70/Mcfe ($10.22/Boe)

    Achieving Expectations

    • Recommend a final quarterly dividend of $0.29 per share
    • Generated $49 million of cash proceeds through land sales and Coal Mine Methane Revenues
    • Retired over $200 million in debt principal through amortizing debt payments
    • Returned $105 million to shareholders, including $21 million in share buybacks(h)
    • Completed $585 million (gross) in strategic and bolt-on acquisitions during 2024
    • Retired 202 Diversified wells in Appalachia, marking third consecutive year to exceed 200 wells
    • OGMP Gold Standard and MSCI AA Rating for third and second consecutive year, respectively
    • Decreased Scope 1 methane intensity to 0.7 MT CO2e per MMcfe, a 13% reduction from 2023

    Powerful Step Forward

    • Closed transformative $1.3 billion acquisition of Maverick Natural Resources (“Maverick”)
      • Largest Producer in the Western Anadarko Basin (WAB)
      • Entry into the Permian basin
      • Expecting to achieve over $50 million in annual synergies by year-end 2025
    • Closed the accretive bolt-on acquisition of assets from Summit Natural Resources
      • Anticipate over 300% increase in cash flow from CMM environmental credit sales in the next 24 months
    • Developed a unique partnership to create an innovative, reliable, net-zero data center power solution
    • Enhancing free cash flow growth in 2025 by advantageously added natural gas hedges (related to ABS & recent acquisitions) and planning approximately $40 million from the divestiture of undeveloped leasehold during the first half of 2025

    CEO Rusty Hutson, Jr. commented:

    “Our over 1,600 women and men of Diversified remain the driving force behind our strong operational and financial performance in 2024. Whether it’s natural gas to power the technology of the future or the everyday needs of families and businesses across our operating region, Diversified provides the reliable and sustainable energy needed, and we continue to invest in growing our business while expanding our opportunity set of cash flow generation through verticals in a variety of end markets.

    We have built a Company that remains highly focused on long-term value creation through the growth of our platform and our ability to leverage vertical integration and scale to operate a structurally and dependably higher-margin business that delivers de-risked, consistent cash flow. Our focused strategy, disciplined leadership team, sound operating practices, and the strong demand for natural gas provide us with momentum as we begin the year and the confidence to achieve our full-year 2025 expectations while executing against our capital allocation strategy. We are starting the year in a position of strength as a bigger, better business, and there has never been a more exciting time for our Company and the energy industry. We feel privileged to be at the heart of the energy renaissance as the Right Company at the Right Time to help provide essential energy needs.”

    Combined Company 2025 Outlook

    Following the recently completed acquisition of Maverick, Diversified expects to realize significant operational synergies associated with a larger, consolidated position in Oklahoma and the ability to improve the overall cost structure of the Maverick Natural Resources assets while continuing to prioritize returns and Free Cash Flow generation.

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

      2025 Guidance
    Total Production (Mmcfe/d) 1,050 to 1,100
    % Liquids ~25%
    % Natural Gas ~75%
    Total Capital Expenditures (millions) $165 to $185
    Adj. EBITDA1 (millions) $825 to $875
    Adj. Free Cash Flow1 (millions) ~$420
    Leverage Target 2.0x to 2.5x
    Combined Company Synergies (millions) >$50
    1 Includes the value of anticipated cash proceeds for 2025 land sales
     

    Posting of 2024 Annual Report and Notice of Annual General Meeting

    Diversified has published to the Company’s website its 2024 Annual Report and Notice of AGM, along with the form of proxy for the AGM. These documents can be viewed or downloaded from Diversified’s website at https://ir.div.energy/financial-info.

    The Company has also provided copies of these documents to the National Storage Mechanism that, in accordance with UK Listing Rule 6.4.1R, will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

    Annual General Meeting Arrangements

    The Company’s AGM will be held on April 9, 2025 at 1:00pm BST (8:00am EDT) at the offices of FTI Consulting, 200 Aldersgate, Aldersgate Street, London EC1A 4HD.

    Presentation and Webcast

    DEC will host a conference call today at 12:30 pm GMT (8:30am EDT) to discuss these results. The conference call details are as follows:

    A corporate presentation will be posted to the Company’s website before the conference call. The presentation can be found at https://ir.div.energy/presentations.

    Footnotes:

    (a) Corporate decline rate of ~10% calculated as the change in average daily production for the month of December 2023 (775 MMcfepd), adjusted for the impact of acquisitions and divestitures occurring during the 2024 calendar year, to the average daily production for the month of December 2024.
    (b) Based on the Company’s year-end PDP reserves and using 10-year NYMEX strip, as at December 31, 2024.
    (c) Adjusted EBITDA represents earnings before interest, taxes, depletion, and amortization, and includes adjustments for items that are not comparable period-over-period; As presented, Adjusted EBITDA includes the impact of the accounting basis for land sales; Adjusted EBITDA Margin represents Adjusted EBITDA (excluding the adjustment for the accounting basis on land sales) as a percent of Total Revenue, Inclusive of Settled Hedges; For purposes of comparability, Adjusted EBITDA Margin excludes Other Revenue of $16 million and Lease Operating Expense of $19 million in 2024 associated with Diversified’s wholly owned plugging subsidiary, Next LVL Energy. For more information, please refer to Non-IFRS Measures, below.
    (d) Free Cash Flow represents net cash provided by operating activities less expenditures on natural gas and oil properties and equipment and cash paid for interest; As used herein, Adjusted Free Cash Flow represents Free Cash Flow, plus cash proceeds from undeveloped acreage sales; For more information, please refer to Non-IFRS Measures, below.
    (e) Calculated as total revenue recorded for the period, inclusive of the impact of derivatives settled in cash. For more information, please refer to Non-IFRS Measures, below.
    (f) Calculated as the availability on the Company’s Revolving Credit Facility (“SLL”) and cash on hand (unrestricted)of December 31, 2024; Does not include the impact of Letters of Credit.
    (g) Net Debt-to-Adjusted EBITDA, or “Leverage” or “Leverage Ratio,” is measured as Net Debt divided by Pro Forma Adjusted EBITDA; Pro forma adjusted EBITDA includes adjustments for the year ended December 31, 2024 for the annualized impact of acquisitions completed during the year. Net Debt calculated as of December 31, 2024 and includes total debt as recognized on the balance sheet, less cash and restricted cash; Total debt includes the Company’s borrowings under the Company’s Revolving Credit Facility (“SLL”) and borrowings under or issuances of, as applicable, the Company’s subsidiaries’ securitization facilities. For more information, please refer to Non-IFRS Measures, below.
       

    For Company-specific items, refer also to the Glossary of Terms and/or Alternative Performance Measures found in Diversified’s 2024 Annual Report

    For further information, please contact:  
    Diversified Energy Company PLC +1 973 856 2757
    Doug Kris dkris@dgoc.com
    www.div.energy  
       
    FTI Consulting dec@fticonsulting.com
    U.S. & UK Financial Public Relations  
       

    About Diversified Energy Company PLC

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

    Important Notices

    This announcement may contain certain forward-looking statements, beliefs or opinions, with respect to the financial condition, results of operations and business of the Company, and its wholly owned subsidiaries (“the Group”) following the Maverick Acquisition. These statements, which contain the words “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “will”, “seek”, “continue”, “aim”, “target”, “projected”, “plan”, “goal”, “achieve”, “outlook” and words of similar meaning, reflect the Company’s beliefs and expectations and are based on numerous assumptions regarding the Company’s present and future business strategies and the environment the Company and the Group will operate in and are subject to risks and uncertainties that may cause actual results to differ materially. No representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company or the Group to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company’s or the Group’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as the Company’s or the Group’s ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company or the Group operate or in economic or technological trends or conditions, and the Company’s or Group’s ability to realize expected benefits of the Maverick acquisition. Past performance of the Company cannot be relied on as a guide to future performance. As a result, you are cautioned not to place undue reliance on such forward-looking statements. The list above is not exhaustive and there are other factors that may cause the Company’s or the Group’s actual results to differ materially from the forward-looking statements contained in this announcement, including the risk factors described in the “Risk Factors” section in the Company’s Annual Report and Form 20-F for the year ended December 31, 2024, filed with the United States Securities and Exchange Commission.

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

    The contents of this announcement are not to be construed as legal, business or tax advice. Each shareholder should consult its own legal adviser, financial adviser or tax adviser for legal, financial or tax advice respectively.

    Percentages in tables have been rounded and accordingly may not add up to 100 per cent. Certain financial data have also been rounded. As a result of this rounding, the totals of data presented in this announcement may vary slightly from the actual arithmetic totals of such data.

    Use of Non-IFRS Measures

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

    Non-IFRS Disclosures

    Adjusted EBITDA

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

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

      Year Ended
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Net income (loss) $ (87,001 ) $ 759,701   $ (620,598 )
    Finance costs   137,643     134,166     100,799  
    Accretion of asset retirement obligations   30,868     26,926     27,569  
    Other (income) expense(a)   (1,257 )   (385 )   (269 )
    Income tax (benefit) expense   (136,951 )   240,643     (178,904 )
    Depreciation, depletion and amortization   256,484     224,546     222,257  
    (Gain) loss on bargain purchases   —     —     (4,447 )
    (Gain) loss on fair value adjustments of unsettled financial instruments   189,030     (905,695 )   861,457  
    (Gain) loss on natural gas and oil properties and equipment(b)   15,308     4,014     93  
    (Gain) loss on sale of equity interest   7,375     (18,440 )   —  
    Unrealized (gain) loss on investment   4,013     (4,610 )   —  
    Impairment of proved properties(c)   —     41,616     —  
    Costs associated with acquisitions   11,573     16,775     15,545  
    Other adjusting costs(d)   22,375     17,794     69,967  
    Loss on early retirement of debt   14,753     —     —  
    Non-cash equity compensation   8,286     6,494     8,051  
    (Gain) loss on foreign currency hedge   —     521     —  
    (Gain) loss on interest rate swap   (190 )   2,722     1,434  
    Total adjustments $ 559,310   $ (212,913 ) $ 1,123,552  
    Adjusted EBITDA $ 472,309   $ 546,788   $ 502,954  
    Pro forma adjusted EBITDA(e) $ 548,570   $ 553,252   $ 574,414  
    1. Excludes $1 million in dividend distributions received for our investment in DP Lion Equity Holdco during the year ended December 31, 2024.
    2. Excludes $27 million, $24 million and $2 million in cash proceeds received for leasehold sales during the years ended December 31, 2024, 2023 and 2022, respectively, less $14 million and $4 million of basis in leasehold sales for the years ended December 31, 2024 and 2023, respectively.
    3. For the year ended December 31, 2023, the Group determined the carrying amounts of certain proved properties within two fields were not recoverable from future cash flows, and therefore, were impaired.
    4. Other adjusting costs for the year ended December 31, 2024, were primarily associated with legal and professional fees related to the U.S. listing, legal fees for certain litigation, and expenses associated with unused firm transportation agreements. For the year ended December 31, 2023, these costs were primarily related to legal and professional fees for the U.S. listing, legal fees for certain litigation, and expenses for unused firm transportation agreements. For the year ended December 31, 2022, these costs mainly included $28 million in contract terminations, which enabled the Group to secure more favorable future pricing, and $31 million in deal breakage and/or sourcing costs for acquisitions.
    5. Includes adjustments for the year ended December 31, 2024 for the Oaktree, Crescent Pass, and East Texas II acquisitions to pro forma their results for the full twelve months of operations. Similar adjustments were made for the year ended December 31, 2023 for the Tanos II Acquisition, as well as for the year ended December 31, 2022 for the East Texas I and ConocoPhillips acquisitions.

    Total Revenue, Inclusive of Hedges and Adjusted EBITDA Margin

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

    As used herein, adjusted EBITDA margin is calculated as adjusted EBITDA expressed as a percentage of total revenue, inclusive of settled hedges. Adjusted EBITDA margin encompasses the direct operating costs and the portion of general and administrative costs required to produce each Mcfe. This metric includes operating expense, employee costs, administrative costs and professional services, and recurring allowance for credit losses, which cover both fixed and variable costs components. We believe that adjusted EBITDA margin is a useful measure of our profitability and efficiency, as well as our earnings quality, because it evaluates the Group on a more comparable basis period-over-period, especially given our frequent involvement in transactions that are not comparable between periods.

      Year Ended
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Total revenue $ 794,841   $ 868,263   $ 1,919,349  
    Net gain (loss) on commodity derivative instruments(a)   151,289     178,064     (895,802 )
    Total revenue, inclusive of settled hedges $ 946,130   $ 1,046,327   $ 1,023,547  
    Adjusted EBITDA $ 472,309   $ 546,788   $ 502,954  
    Adjusted EBITDA margin   50 %   52 %   49 %
    Adjusted EBITDA margin, excluding Next LVL Energy   51 %   53 %   50 %
    1. Net gain (loss) on commodity derivative settlements represents the cash paid or received on commodity derivative contracts. This excludes settlements on foreign currency and interest rate derivatives, as well as the gain (loss) on fair value adjustments for unsettled financial instruments for each of the periods presented.

    Free Cash Flow

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

      Year Ended
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Net cash provided by operating activities $ 345,663   $ 410,132   $ 387,764  
    LESS: Expenditures on natural gas and oil properties and equipment   (52,100 )   (74,252 )   (86,079 )
    LESS: Cash paid for interest   (123,141 )   (116,784 )   (83,958 )
    Free cash flow $ 170,422   $ 219,096   $ 217,727  
    Cash generated through divestitures of land $ 40,986   $ 28,160   $ 2,472  
    Adjusted free cash flow $ 211,408   $ 247,256   $ 220,199  


    Net Debt and Net Debt-to-Adjusted EBITDA (“Leverage”)

    As used herein, net debt represents total debt as recognized on the balance sheet, minus cash and restricted cash. Total debt includes borrowings under our Credit Facility and borrowings under, or issuances of, our subsidiaries’ securitization facilities. We believe net debt is a useful indicator of our leverage and capital structure.

    As used herein, net debt-to-adjusted EBITDA, also referred to as “leverage” or the “leverage ratio,” is calculated by dividing net debt by adjusted EBITDA. We believe this metric is a crucial measure of our financial liquidity and flexibility, and it is also used in the calculation of a key metric in one of our Credit Facility financial covenants.

      As of
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Total debt(a) $ 1,693,242   $ 1,276,627   $ 1,440,329  
    LESS: Cash   5,990     3,753     7,329  
    LESS: Restricted cash(b)   46,269     36,252     55,388  
    Net debt $ 1,640,983   $ 1,236,622   $ 1,377,612  
           
    Adjusted EBITDA $ 472,309,000   $ 546,788,000   $ 502,954,000  
    Pro forma adjusted EBITDA(c) $ 548,570   $ 553,252   $ 574,414  
    Net debt-to-pro forma adjusted EBITDA(d) 2.9x
    		   2.2x
    		   2.4x
    		  
    1. Includes adjustments for deferred financing costs and original issue discounts, consistent with presentation on the Statement of Financial Position.
    2. The increase of restricted cash as of December 31, 2024, is due to the addition of $21 million and $3 million in restricted cash for the ABS VIII Notes and ABS IX Notes, respectively, offset by $7 million and $9 million for the retirement of the ABS III Notes and ABS V Notes, respectively.
    3. Includes adjustments for the year ended December 31, 2024 for the Oaktree, Crescent Pass, and East Texas II acquisitions to pro forma their results for the full twelve months of operations. Similar adjustments were made for the year ended December 31, 2023 for the Tanos II Acquisition, as well as for the year ended December 31, 2022 for the East Texas I and ConocoPhillips acquisitions.
    4. Excludes long-term plant financing of $30 million for the year ended December 31, 2024.

    The MIL Network –

  • MIL-OSI Australia: Key regulatory changes for the telecommunications sector: new SoCI rules incoming, and Telco Bill introduced into Parliament

    Source: Allens Insights

    Over the past few months, the Government has introduced a number of important reforms to the Australian telecommunications regulatory landscape. These reforms will have a significant impact on all carriers and many carriage service providers. Taken together with the current Telecommunications Consumer Protections (TCP) Code amendment process, they constitute a significant uplift in regulatory obligations applicable to the sector.

    The legislative reforms comprise:

    • Amendments to the Security of Critical Infrastructure Act 2024 (Cth) (SoCI Act), which transfer and uplift certain obligations that apply to telecommunications providers under the Telecommunications Act 1997 (Cth) (Telco Act) and take effect on 4 April 2025.
    • Rules that ‘switch on’ the obligation for carriers and certain carriage service providers (CSPs) to implement and maintain a Telecommunications Security and Risk Management Program (TSRMP Rules)1 have been made and will commence on 4 April 2025.
    • The Security of Critical Infrastructure Amendment (2025 Measures No. 1) Rules 2025 (Cth) (Amended Application Rules) which amend the Security of Critical Infrastructure (Application) Rules (LIN 22/026) 2022 (Cth) (Application Rules) have been made. Once these amendments take effect on 4 April 2025, they will have the effect of switching on the Asset Registration and Cyber Security Incident Notification Rules under the SoCI Act. 
    • On 12 February 2025, the Telecommunications Amendment (Enhancing Consumer Safeguards) Bill 2025 (Enhancing Consumer Safeguards Bill) was also introduced into Parliament but has not yet been passed. If passed, this Bill would have the effect of:
      • establishing a requirement for eligible CSPs to be registered as a condition of being permitted to supply services;
      • enabling the direct enforcement of industry codes by the Australian Communications and Media Authority (ACMA); and
      • amending and increasing the penalty amounts for infringement notices and civil penalties.

    Key takeaways

    Security regulation for critical telecommunications assets

    Who will be captured?

    All carriers and a subset of CSPs will be subject to all three positive security obligations under the SoCI Act with resect to critical telecommunications assets (as opposed to being subject to parallel obligations which are currently enlivened pursuant to the Telecommunications (Carrier Licence Conditions—Security Information) Declaration 2022 (Cth) and the Telecommunications (Carriage Service Provider—Security Information) Determination 2022 (Cth) (the Telco Security Information Instruments) with respect to asset registration and incident notification).

    The subset of CSPs to be caught under these new rules (‘relevant carriage service provider asset’) are:

    • CSPs that meet the prescribed threshold of 20,000 active carriage services; and
    • CSPs that supply to the Government (except for bodies established by a law of the Government).

    What will be captured?

    The definition of Critical Telecommunication Asset has been expanded to include:

    ‘(b) any other asset that is:

    (i) owned or operated by a carrier or a carriage service provider; and
    (ii) used in connection with the supply of a carriage service’ (emphasis added)

    Consistent with reforms to the SoCI Act implemented in December 2024, the effect of this amendment is to ensure that assets owned and operated by carriers/CSPs which are used in connection with the supply of a service (rather than used directly in the supply a service) are captured under the SoCI Act. This would include, for example, CRM systems and corporate IT networks that were not previously clearly captured.

    Positive security obligations

      CARRIER ASSETS  ‘RELEVANT CSP’ ASSETS OTHER CSP ASSETS
    Risk Management Program obligations ✓

    ✓
    Obligation to protect asset3

    ✓

    ✓
    Notification of changes4

    ✓
    Asset Registration obligation

    ✓

    ✓
    Mandatory Cyber Incident Reporting

    ✓

    ✓
    Government assistance, directions and information-gathering powers

    ✓

    ✓

    ✓

    The TSRMP Rules largely mirror the existing Security of Critical Infrastructure (Critical infrastructure risk management program) Rules (LIN 23/006) 2023 (Cth) with additions to reflect telecommunications-specific risks, including risks relating to the compromise, theft or manipulation of communications.

    Some key points in the draft TSRMP Rules stand out in particular:

    • Carriers and Relevant CSPs will have until 3 October 2025 (ie, six months from 4 April 2025) to develop and implement their risk management program to address the following hazard vectors:
      • cyber and information security hazards
      • personnel hazards
      • supply chain hazards
      • physical security hazards and natural hazards.
    • With respect to cyber and information security hazards, the requirement to meet minimum cybersecurity maturity frameworks goes beyond that currently provided for under the existing CIRMP Rules for other asset classes. For both carriers and Relevant CSPs, maturity indicator 1 for the prescribed framework must be achieved by 3 October 2026. However for carriers only, maturity indicator 2 with respect to one of the following frameworks must be achieved by 3 October 2027:
      • Essential Eight;
      • Cybersecurity Capability Maturity Model (published by the US Department of Energy); or
      • 2020‑21 AESCSF Framework Core published by Australian Energy Market Operator Limited.
    • We understand that the obligation to achieve maturity indicator 2 is something that smaller carriers (unsuccessfully) tried to resist during the consultation process owing to the fact that it would result in an increase in their operating costs. However, the Government is of the view that, given the criticality of telecommunications networks to the economy, the higher maturity indicator is necessary. It is not a stretch to imagine that the obligation to achieve maturity indicator 2 might be imposed on other classes of critical infrastructure assets in the near future.
    • The TSRMP Rules will relate to all assets owned or operated by carriers and Relevant CSPs. This is materially broader than the existing concept of a ‘critical telecommunications asset’ which relates to those assets owned by a carrier/CSP and used to provide a carriage service. The effect of this is that the TSRMP must address both assets relating to a carriers/CSPs telecommunications network as well as those assets which do not (e.g. billing and charging systems).
    • Carriers and Relevant CSPs will need to provide an annual attestation in relation to their compliance with their risk management program.

    The Amended Application Rules will transfer the existing registration obligations for carriers and CSPs, which are currently applicable by virtue of the Telco Security Information Instruments, to the SoCI Act. As per the above table, the obligation to provide ownership, operation, interest and control information to the Register of Critical Infrastructure Assets will apply to carriers and Relevant CSPs.

    We understand that the existing equivalent obligations made under the Telco Security Information Instruments will continue to be in effect until 7 July 2025.

    The Amended Application Rules will also activate the Mandatory Cyber Incident Reporting obligations for carriers and Relevant CSPs under the SoCI Act.

    Again, the existing equivalent obligations made under the Telco Security Information Instruments will remain in effect until 7 July 2025.5

    The reforms to the SoCI Act also transfer elements of the TSSR currently contained in Part 14 of the Telco Act into a new Part 2D of the SoCI Act.

    • Obligation to protect asset: the current obligation in section 313(1A) of the Telco Act requires carriers and CSPs to ‘do their best’ to protect their telecommunications networks and facilities from unauthorised interference or unauthorised access. The new section 30EB of the SoCI Act requires the responsible entity for a critical telecommunications asset prescribed by the rules to protect the asset, ‘so far as it is reasonably practicable to do so’ for the purposes of: (a) security; and (b) the protection of the asset from any hazard where there is a material risk that the occurrence of the hazard could have a relevant impact on the asset. This obligation will apply with respect to all critical telecommunications assets.
    • Notification of changes: all carriers will be required to notify the Secretary of certain changes, and proposed changes, to telecommunications services or telecommunications systems if the change, or proposed change, is likely to have a material adverse effect on the entity’s capacity to comply with the obligation to protect the asset for the purposes of security. The kinds of changes to be notified mirror those currently specified in section 314A(2) of the Telco Act. The TSRMP Rules (rule 17) prescribe a list of information that carriers must provide to the Secretary when notifying them of such a change or proposed change. In large part, this has the effect of codifying much of the information that was previously required to be provided under the CISC’s sample notification form.
    • Compliance with Minister’s directions to cease supply: the new section 30EF of the SoCI Act largely replicates the existing section 315A of the Telco Act, which enables the Minister for Home Affairs to issue a direction requiring a carrier or carriage service provider ‘not to use or supply, or to cease using or supplying’ a particular service that the Minister considers to be ‘prejudicial to security’. This obligation applies generally to responsible entities of a critical telecommunications asset and does not rely upon any rules prescribing the application of this section.

    Other TSSR components that would be repealed from the existing Telco Act, including other direction-making powers of the Minister for Home Affairs, the Secretary of Home Affairs’ information gathering powers and requirements in relation to security capability plans are not proposed to be replicated into the SoCI Act.

    However, the existing SoCI Act’s direction-making, information-gathering powers are broadly equivalent to these provisions.

    New CSP registration requirements and enforcement powers for telco regulator

    The Enhancing Consumer Safeguards Bill has been introduced by the Government to improve compliance and enforcement of telecommunications consumer protection rules for the benefit of consumers.6

    These proposed reforms coincide with a review by the ACMA of the TCP Code and a draft revised version that has been the subject of public consultation (and much debate).

    Registration of CSPs

    Currently, there is no licensing or other registration framework that applies to CSPs under the Telco Act (unlike carriers, that must register a carrier licence with the ACMA).

    The Enhancing Consumer Safeguards Bill proposes to establish a CSP registration scheme prohibiting:

    • CSPs from providing a listed carriage service to the public unless it is registered; and
    • carriers or wholesale CSPs from supplying listed carriage services to CSPs that are not registered.

    The CSP registration scheme is proposed to apply to ‘eligible carriage service providers’, being CSPs that enter into the Telecommunications Industry Ombudsman (TIO) scheme and supply:

    • a standard telephone service;
    • public mobile telecommunications service; or
    • a carriage service that enables end-users to access the internet.7

    ACMA will also have the power to:

    • impose conditions on the registration of CSPs;
    • refuse a CSP’s registration based on prescribed grounds for refusal (eg the application contains false or misleading material, the applicant has engaged in or is likely to engage in a contravention of the TIO scheme, or the applicant has engaged in conduct that poses a significant risk to consumers); and
    • revoke the registration of a registered CSP.

    Mandatory industry codes

    The ACMA does not currently have the power to directly enforce industry codes rather, it must first direct a provider to comply with the code or issue a formal warning.8 The ACMA can currently only take stronger enforcement action if the provider continues to not comply with its directions or warnings.

    The Enhancing Consumer Safeguards Bill proposes to make compliance with an industry code mandatory and to make breaches of the obligation to comply with registered industry code a civil penalty provision that is directly enforceable by the ACMA at first instance.

    Pecuniary penalties

    Currently, maximum civil penalties differ greatly across the Telco Act and the current maximum civil penalty for non-compliance with a direction by the ACMA to comply with a registered industry code is $250,000.9

    The Enhancing Consumer Safeguards Bill proposes to increase maximum penalties that can be ordered by the court for individual contraventions to the greater of:

    • 30,300 penalty units (~$9.999 million);
    • three times the benefit obtained by the relevant entity and its related bodies corporate from the contravening conduct; or
    • if the court cannot determine the benefit, 30% of the adjusted turnover of the body corporate during the breach turnover period for the contravention.

    Infringement notices given to bodies corporate

    Currently the Telco Act only permits the Minister for Communications to increase infringement notice penalties for breaches of either the general carrier licence conditions or CSP rules.

    The proposed amendments to the Telco Act will allow the Minister for Communications to increase infringement notice penalty amounts for any breach where the ACMA can already issue an infringement notice.

    What’s next?

    Organisations in the telecommunications sector should consider the steps required to ensure compliance with the latest reforms. This might include:

    MIL OSI News –