Category: Energy

  • MIL-OSI: Sky Quarry Appoints Energy Industry Veteran Todd Palin to Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    Brings Energy Production and Operational Expertise to Advance Waste-to-Energy Mission and Strategic Growth

    WOODS CROSS, Utah, March 04, 2025 (GLOBE NEWSWIRE) — Sky Quarry Inc. (NASDAQ: SKYQ) (“Sky Quarry” or “the Company”), an integrated energy solutions company committed to revolutionizing the waste asphalt shingle recycling industry, today announced the appointment of Todd Palin to the Company’s Board of Directors.

    Mr. Todd Palin brings nearly two decades of hands-on experience in energy production and operational oversight. From Big Lake, Alaska, Mr. Palin is a seasoned Alaskan businessman, champion snowmachine racer, and former First Gentleman of Alaska. Mr. Palin brings a wealth of experience in energy production, resource management and public service.

    Energy Sector Experience

    Todd Palin brings 15 years of industry experience from his tenure with BP in Alaska’s North Slope oil fields. As a facility production operator, Todd’s job duties included all phases of production, getting crude to spec, prior to its transfer to the Trans-Alaska Pipeline System (TAPS) at pump station 1. His expertise in energy production, coupled with his firsthand understanding of Alaska’s unique resource challenges, positions him as a strong advocate for innovative approaches to harmonize traditional energy practices with green advancements.

    Commitment to Sustainability and Alaskan Communities

    In addition to his work in North Slope oil production, Mr. Palin is a fourth-generation commercial fisherman in Bristol Bay, reflecting his enduring commitment to Alaska’s natural resources and sustainable practices. His deep ties to his Alaska Native heritage and local communities provide a unique perspective on the importance of balancing environmental stewardship with economic development.

    Champion Snowmachine Racer

    Beyond his contributions to the energy sector, Todd Palin is a four-time champion of the Iron Dog Race, the world’s longest snowmachine race. The race traces the path of the Iditarod, with an additional route North of the Arctic Circle, totaling 2,500 miles, making it a grueling test of endurance and skill. 

    Mr. Palin has competed in the Iron Dog snowmachine race since 1993, demonstrating his commitment to the sport and his ability to persevere through some of the harshest conditions in Alaska. His team’s first win in the race took place in 1995 with additional wins in 2000, 2002 and 2007. 

    “Mr. Palin’s appointment comes at a crucial time as California faces ongoing refinery disruptions that threaten fuel supply stability,” said David Sealock, CEO of Sky Quarry. “His deep expertise in energy markets and production infrastructure, particularly on the West Coast, will be instrumental as Sky Quarry ramps up production at its Nevada refinery in 2025. His strong commitment to operational efficiency and regulatory compliance will be invaluable in advancing our mission to accelerate the transition to sustainable energy solutions, and enhancing national energy security.”

    “I’m excited to join Sky Quarry and work with the Sky Quarry team to further evolve the Company’s waste energy portfolio,” said Todd Palin. “Sky Quarry’s innovative approach goes beyond addressing immediate energy challenges; it’s about creating sustainable solutions that benefit both the environment and the communities we serve. I’m eager to apply my experience in energy production, resource management, and public service to help drive the company’s growth and contribute to its mission of transforming waste into valuable resources.”

    About Sky Quarry Inc.

    Sky Quarry Inc. (NASDAQ: SKYQ) and its subsidiaries are, collectively, an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. Our waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, we can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit skyquarry.com.

    Forward-Looking Statements

    This press release may include “forward-looking statements.” All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in our disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company’s other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in the Company’s Form 1-A offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained.

    Investor Relations
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    SKYQ@mzgroup.us
    www.mzgroup.us

    Corporate Contact
    Jennifer Standley
    Director of Investor Relations
    Ir@skyquarry.com

    Company Website
    www.skyquarry.com

    The MIL Network

  • MIL-OSI USA: U.S. natural gas-directed rigs decreased for second consecutive year in 2024

    Source: US Energy Information Administration

    In-brief analysis

    March 4, 2025

    Data source: Baker Hughes Company


    The number of rigs deployed to drill for natural gas in the United States decreased over the last two years. U.S. natural gas-directed rigs decreased 32% (50 rigs) between December 2022 and December 2024. This decline has been concentrated in the natural gas-rich Haynesville and Appalachia regions, where the combined natural gas rig count declined by 34% during 2023 (43 rigs) and by 24% during 2024 (21 rigs). The decline in drilling rigs coincides with record-low natural gas prices for most of 2024 and the wider adoption of advanced drilling and completion technologies.

    In the Haynesville region, which spans Texas and Louisiana, drilling costs tend to be higher than in other plays because Haynesville wells are drilled to greater depths, usually between 10,500 feet and 13,500 feet deep. As natural gas prices have generally declined over the last two years, rigs in the Haynesville have decreased 55% since December 2022 (39 rigs) as drilling has become less economical. Consequently, marketed natural gas production in the Haynesville region has declined 7% over the same period.

    Data source: Baker Hughes Company


    Similarly in the Appalachia region, which includes natural gas produced from the Marcellus and Utica plays, rigs have declined 37% since December 2022 (19 rigs) with the drop in natural gas prices. As a result, growth in marketed natural gas production has been limited to 4% over the same period.

    The extent to which producers respond to price changes depends on several factors, such as uncertainty around future prices, contracts, volatility in the market, and price hedging; current costs of materials, equipment, and labor; and availability of transportation and storage.

    Data source: U.S. Energy Information Administration
    Note: Prices are adjusted for inflation using the December 2024 estimate of the Consumer Price Index for All Urban Consumers from the Bureau of Labor Statistics.


    After the U.S. benchmark Henry Hub natural gas price reached a 14-year high of $6.95 per million British thermal units (MMBtu) in 2022, it fell 62% in 2023 ($4.31/MMBtu) and a further 16% in 2024 ($0.43/MMBtu). The Henry Hub price in 2024 was the lowest ever reported after adjusting for inflation, with March 2024 marking the lowest average price of $1.51/MMBtu.

    Producers in natural gas-rich regions have responded to these persistently low prices by drilling less—as reflected in the declining rig counts—and even by curtailing production, which has grown inventories of drilled but uncompleted wells. If natural gas demand and prices continue to rise, producers could be in a better economic position to complete these wells, potentially allowing them to quickly increase production.

    Principal contributors: Kenya Schott, Trinity Manning-Pickett

    MIL OSI USA News

  • MIL-OSI: Evolution Petroleum Announces Acquisition of Non-Operated Oil and Natural Gas Assets in New Mexico, Texas, and Louisiana

    Source: GlobeNewswire (MIL-OSI)

    Strategic Benefits of the Acquisition:

    • Adds approximately 440 net BOEPD of stable, low-decline production.
    • Enhances cash flow visibility with a balanced commodity mix.
    • Strengthens Evolution’s long-term dividend sustainability.
    • Offers low-risk development opportunities with potential for incremental production growth.
    • ~2.8x estimated Adjusted EBITDA1 for the next 12 months (NTM)2, providing immediate accretion.
    • $9.0 million purchase price vs. ~$15 million of Proved Developed PV-103.

    HOUSTON, March 04, 2025 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution” or the “Company”) today announced that it has entered into a definitive agreement to acquire non-operated oil and natural gas assets in New Mexico, Texas, and Louisiana (the “Acquisition”). The total purchase price for the Acquisition is $9.0 million, subject to customary closing adjustments. The Acquisition is expected to close by the end of Evolution’s third quarter of fiscal 2025 with an effective date of February 1, 2025. The Company intends to finance the Acquisition through a combination of cash on hand and borrowings under its existing credit facility.

    Kelly Loyd, President and Chief Executive Officer, commented: “This Acquisition marks our 7th such transaction in the last 6 years and is another step forward in strengthening our production base – aligns with our disciplined growth strategy by adding high-quality, low-decline production at an attractive valuation, estimated at ~2.8x NTM2 Adjusted EBITDA1 which doesn’t include any incremental cash flows for upside opportunities. These assets complement our existing portfolio and enhance our ability to generate stable free cash flow, which supports our long-standing commitment to returning capital to shareholders. We see additional upside through reactivations of existing waterfloods and through operational efficiencies, which will further enhance long-term value.”

    The Acquisition expands Evolution’s diverse asset portfolio with approximately 440 barrels of oil equivalent per day (BOEPD) of net production, consisting of a balanced commodity mix of 60% oil and 40% natural gas. The acquired assets are primarily low-decline, Proved Developed Producing (PDP) properties, characterized by a sub-7% annual base decline, ensuring stable cash flows and long-term value creation. The transaction is immediately accretive to all key metrics, reinforcing Evolution’s ability to sustain and grow its shareholder returns. The portfolio consists of approximately 254 gross producing wells across all regions. The assets will be managed by a top-tier private operator, ensuring operational efficiency and the ability to maximize value.

    “We remain committed to executing our strategy of acquiring high-quality, long-life assets that enhance our production base while maintaining financial discipline,” added Mr. Loyd. “This transaction further reinforces our strong balance sheet and ability to deliver consistent shareholder value through sustainable production and cash flow generation.”

    Non-GAAP Disclosure

    Certain financial information utilized by the Company are not measures of financial performance recognized by accounting principles generally accepted in the United States (“GAAP”).

    Adjusted EBITDA is a non-GAAP financial measure used as a supplemental financial measure by management and external users of the Company’s financial statements, such as investors, commercial banks, and others, to assess our operating performance as compared to that of other companies in our industry. We use these measures to assess our ability to incur and service debt and fund capital expenditures. Adjusted EBITDA should not be considered in isolation from or as a substitute for net income, as an indication of operating performance or cash flows from operating activities or as a measure of liquidity. Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. The Company defines “Adjusted EBITDA” as net income (loss) plus interest expense, income tax expense (benefit), depreciation, depletion, and accretion (DD&A), stock-based compensation, ceiling test impairment, and other impairments, unrealized loss (gain) on change in fair value of derivatives, and other non-recurring or non-cash expense (income) items. The Company cannot provide a reconciliation of NTM Adjusted EBITDA without unreasonable efforts because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items required for reconciliation. These items are uncertain, depend on various factors and could have a material impact on GAAP reported results.

    PV-10 is a non-GAAP financial measure that differs from a financial measure under GAAP known as “standardized measure of discounted future net cash flows” in that PV-10 is calculated without including future income taxes. The Company believes the presentation of PV-10 provides useful information because it is widely used by investors in evaluating oil and natural gas companies without regard to specific income tax characteristics of such entities. The Company also uses PV-10 when assessing the potential return on investment related to oil and natural gas properties and in evaluating acquisition opportunities. PV-10 is not intended to represent the current market value of the Company’s estimated proved reserves. PV-10 should not be considered in isolation or as a substitute for the standardized measure as defined under GAAP. The Company also presents PV-10 at strip pricing, which is PV-10 adjusted for price sensitivities. Since GAAP does not prescribe a comparable GAAP measure for PV-10 of reserves adjusted for pricing sensitivities, it is not practicable for the Company to reconcile PV-10 at strip pricing to a standardized measure or any other GAAP measure.

    About Evolution Petroleum

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

    Cautionary Statement

    All forward-looking statements contained in this press release regarding the Company’s current and future expectations, potential results, and plans and objectives involve a wide range of risks and uncertainties. Statements herein using words such as “believe,” “expect,” “may,” “plans,” “outlook,” “should,” “will,” and words of similar meaning are forward-looking statements. Although the Company’s expectations are based on business, engineering, geological, financial, and operating assumptions that it believes to be reasonable, many factors could cause actual results to differ materially from its expectations. The Company gives no assurance that its goals will be achieved. These factors and others are detailed under the heading “Risk Factors” and elsewhere in our periodic reports filed with the Securities and Exchange Commission (“SEC”). The Company undertakes no obligation to update any forward-looking statement.

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

    1)     Adjusted EBITDA is Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization and is a non-GAAP financial measure; see disclosures at the end of this release for more information.
    2)     Based on current NYMEX strip prices as of 3/3/25; NTM represents 12-month period of 4/1/25-4/1/26.
    3)     PV-10 is based on proved reserves determined by internal management estimates using current NYMEX strip prices as of 3/3/25 and is a non-GAAP financial measure; see disclosures at the end of this release for more information.

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

    The MIL Network

  • MIL-OSI: Fusion Fuel Closes $1.3 Million Follow-On Financing

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, March 04, 2025 (GLOBE NEWSWIRE) — via IBN – Fusion Fuel Green PLC (Nasdaq: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of full-service energy engineering and advisory solutions, today announced that it has closed a $1.3 million private placement of senior convertible notes with certain institutional investors.

    The senior convertible notes were issued at a weighted-average original issue discount of approximately 23% for an aggregate purchase price of $1.0 million, mature in August 2026, and carry an 8% annual interest rate. In connection with the financing, the Company also issued warrants to the noteholders, providing additional equity participation.

    “This follow-on financing further solidifies our financial position and underscores the ongoing commitment from our investors,” commented John-Paul Backwell, Chief Executive Officer of Fusion Fuel. “Their continued support reinforces the confidence in our long-term strategy and ability to execute. With these investments, we are strengthening our position as a diversified energy services leader, delivering value across the entire energy ecosystem.”

    The proceeds from the financing are expected to provide additional working capital.

    Additional information regarding the terms of the senior convertible notes and related warrants can be found in the Company’s report on Form 6-K filed with the U.S. Securities and Exchange Commission (SEC) on March 3, 2025.

    About Fusion Fuel Green PLC

    Fusion Fuel Green PLC (NASDAQ: HTOO) is an emerging leader in the energy services sector, offering a comprehensive suite of energy engineering and advisory solutions through its Al Shola Gas and BrightHy brands. Al Shola Gas provides full-service industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as the transport and distribution of LPG to a broad range of customers across commercial, industrial, and residential sectors. BrightHy, the Company’s newly launched hydrogen solutions platform, focuses on delivering innovative engineering and advisory services that enable decarbonization across hard-to-abate industries.

    Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu and following us on LinkedIn.

    Forward-Looking Statements

    This press release includes “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”, “predict”, “should”, “would”, “predict”, “potential”, “seem”, “future”, “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations, including but not limited the ability of the investment reported on to be consummated as anticipated. Such forward-looking statements are subject to risks and uncertainties (including those set forth in Fusion Fuel’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission) which could cause actual results to differ from the forward-looking statements.

    Investor Relations Contact

    ir@fusion-fuel.eu

    Wire Service Contact:
    IBN
    Austin, Texas
    www.InvestorBrandNetwork.com
    512.354.7000 Office
    Editor@InvestorBrandNetwork.com

    The MIL Network

  • MIL-OSI: ChampionX’s Aerial Optical Gas Imaging (AOGI) Platform Secures EPA Approval for Regulatory Compliance

    Source: GlobeNewswire (MIL-OSI)

    THE WOODLANDS, Texas, March 04, 2025 (GLOBE NEWSWIRE) — ChampionX Corporation (“ChampionX” or the “Company”) (NASDAQ: CHX), a global leader in oilfield technology, announced today its ChampionX Emissions Technologies’ Aerial Optical Gas Imaging (AOGI) platform has received approval from the U.S. Environmental Protection Agency (EPA) for the Methane Alternative Test Method outlined in OOOOb. This approval marks a significant milestone in emissions management, empowering operators to integrate AOGI into their emissions monitoring programs to detect and locate fugitive methane emissions with unmatched efficiency and precision.

    ChampionX’s AOGI platform has gained industry-wide recognition for its ability to complement fugitive emissions screening processes. It helps create efficiency with the possibility of surveying over 150 sites per day. By leveraging Optical Gas Imaging (OGI) technology, AOGI offers a scalable solution with the intent of reducing the time and cost required for emissions monitoring for operators of all sizes.

    “As the first component-level platform approved by the EPA, AOGI represents a new standard in emissions monitoring,” said Sivasankaran ‘Soma’ Somasundaram, President & CEO of ChampionX. “This advanced method enables operators to monitor emissions to assist operators in taking action to meet regulatory requirements efficiently while seamlessly integrating into their existing workflows.”

    This proven method combines high-definition OGI technology with an advanced gimbal system to detect, locate, and visualize methane leaks with pinpoint accuracy. The OGI technology has been refined for a variety of applications, including handheld, fixed, drone, and aerial systems.

    “It’s the ultimate use of OGI, a familiar and trusted technology to pinpoint leaks quickly and efficiently from the air,” said Shankar Annamalai, Senior Vice President of Emissions Technologies and Permian Geomarket. “Given the scale of the oil and gas industry, streamlining the leak detection process is a big relief to operators, especially for small businesses.”

    “This approval underscores our commitment to innovation and reinforces the United States’ position as a leading producer of efficient and sustainable oil and gas,” said Somasundaram.

    Using our 140 years of oilfield expertise, ChampionX has, and will, continue to support the oil and gas sectors with cutting-edge technologies – ike AOGI, the Aura OGI™ camera, Soofie® continuous monitors, drones with HALO OGI® or Open Path Laser Spectrometer (OPLS) technology, and fixed-wing surveys – to address the evolving environmental and operational challenges.

    For more information on how AOGI can complement your emissions monitoring program, visit ChampionX Emissions Technologies | AOGI or contact us at contactemissions@championx.com.

    About ChampionX Emissions Technologies
    ChampionX Emissions Technologies combines deep industry expertise with advanced technology to effectively tackle environmental challenges. By continuously enhancing our solutions, we assist clients in managing the complexities of emissions, ensuring a cleaner and more sustainable future.

    About ChampionX
    ChampionX is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world. ChampionX’s expertise, innovative products, and digital technologies provide enhanced oil and gas production, transportation, and real-time emissions monitoring throughout the lifecycle of a well. To learn more about ChampionX, visit our website at www.championx.com.

    Investor Contact: Byron Pope, byron.pope@championx.com, 281-602-0094

    Media Contact: John Breed, john.breed@championx.com, 281-403-5751

    The MIL Network

  • MIL-OSI USA: University High Knows the Answers at NASA JPL Regional Science Bowl

    Source: NASA

    In a fast-paced competition, students showcased their knowledge across a wide range of science and math topics.
    What is the molecular geometry of sulfur tetrafluoride? Which layer of the Sun is thickest? What is the average of the first 10 prime numbers? If you answered “see-saw,” “radiation zone,” and “12.9,” respectively, then you know a tiny fraction of what high school students must learn to compete successfully in the National Science Bowl.
    On Saturday, March 1, students from University High School in Irvine answered enough of these kind of challenging questions correctly to earn the points to defeat 19 other high school teams, winning a regional Science Bowl competition hosted by NASA’s Jet Propulsion Laboratory in Southern California. Troy High, from Fullerton, won second place, while Arcadia High placed third.
    Some 100 students gathered at JPL for the fast-paced event, which drew schools from across Los Angeles, Orange, and San Bernardino counties. Teams are composed of four students and one alternate, with a teacher serving as coach. Two teams at a time face off in a round robin tournament, followed by tie-breaker and double-elimination rounds, then final matches.

    The questions — in biology, chemistry, Earth and space science, energy, mathematics, and physics — are at a college first-year level. Students spend months preparing, studying, quizzing each other, and practicing with “Jeopardy!”-style buzzers.
    It was the third year in a row for a University victory at the JPL-hosted event, and the championship round with Troy was a nail-biter until the very last question. The University team only had one returning student from the previous year’s team, junior Feodor Yevtushenko. Both he and longtime team coach and science teacher David Knight said the key to success is specialization — with each student focusing on particular topic areas.
    “I wake up and grind math before school,” Feodor said. “Being a jack-of-all-trades means you’re a jack-of-no-trades. You need ruthless precision and ruthless speed.”
    University also won for four years in row from 2018 to 2021. The school’s victory this year enables its team to travel to Washington in late April and vie for ultimate dominance alongside other regional event winners in the national finals.
    More than 10,000 students compete in some 115 regional events held across the country. Managed by the U.S. Department of Energy, the National Science Bowl was created in 1991 to make math and science fun for students, and to encourage them to pursue careers in those fields. It’s one of the largest academic competitions in the United States.
    JPL’s Public Services Office coordinates the regional contest with the help of volunteers from laboratory staff and former Science Bowl participants in the local community. This year marked JPL’s 33rd hosting the event.
    News Media Contact
    Melissa PamerJet Propulsion Laboratory, Pasadena, Calif.626-314-4928melissa.pamer@jpl.nasa.gov
    2025-030      

    MIL OSI USA News

  • MIL-OSI United Kingdom: 60% of weekly deliveries at Abertay University are now from the local area 

    Source: University of Abertay

    60% of weekly deliveries at Abertay University are now from the local area 

    Abertay University’s Commercial Services have adapted their operating model to focus on a more sustainable future. 

    Taking a comprehensive approach to food procurement and services on campus, the University integrates environmental, ethical, and social responsibility across its food services, sourcing, and waste management practices. 

    Prioritising local suppliers, 60% of the weekly catering deliveries now originate from Dundee, with 100% of suppliers based in Scotland. Through partnerships with TUCO (The University Caterers’ Organisation) and APUC (Advanced Procurement for Universities and Colleges), Abertay adheres to high sustainability standards, including the selection of Fairtrade-certified products when importing goods.  

    This localisation not only reduces food miles but also supports the regional economy. 

    Commercial Services have streamlined operations by reducing the number of food suppliers by 22% since 2020 and consolidating orders to minimise delivery frequencies. 

    Waste reduction initiatives encourage students and staff to use reusable mugs, with a discount offered at campus coffee shops.  

    In addition, a wide selection of plant-based milk and a growing range of vegan and vegetarian options further support healthier, low-impact food choices. 

    Unsold food items are donated to students and all food waste, including coffee grounds, is composted.  

    Energy-efficient equipment, such as Marco Ecoboilers and low-power Merrychef ovens, are used across coffee shops and the catering team follows strict guidelines to turn off non-essential equipment overnight and when outlets are closed, while motion-sensor lighting and efficient refrigeration further contribute to minimising energy consumption. 

    Chief Estates Officer, Cullen Warnock said:

    By embedding sustainability into our approach to food services we can have an impact for the local economy and make a positive difference to Net Zero goals. We recognise that there’s more to be done and will keen working with our staff, students and suppliers to improve the way we interact with food and catering on campus.

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi addresses the post-budget webinars

    Source: Government of India

    Prime Minister Shri Narendra Modi addresses the post-budget webinars

    MSMEs play a transformative role in the economic growth of our country, We are committed to nurturing and strengthening this sector: PM

    In the last 10 years, India has consistently shown its commitment towards reforms, financial discipline, transparency and inclusive growth: PM

    Consistency and assurance of reforms, is such a change, that has brought new confidence in our industry: PM

    Today every country in the world wants to strengthen its economic partnership with India: PM

    Our manufacturing sector should come forward to take maximum advantage of this partnership: PM

    We took forward the vision of self-reliant India and further accelerated our pace of reforms: PM

    Our efforts reduced the impact of COVID on the economy, helping India become a fast-growing economy: PM

    R&D has played an important role in India’s manufacturing journey ,it needs to be taken forward and accelerated: PM

    Through R&D we can focus on innovative products, as well as add value to the products: PM

    MSME sector is the backbone of India’s manufacturing and industrial growth: PM

    Posted On: 04 MAR 2025 1:36PM by PIB Delhi

    The Prime Minister Shri Narendra Modi today addressed the Post- Budget webinars via video conferencing. The webinars were held on MSME as an Engine of Growth; Manufacturing, Exports and Nuclear Energy Missions; Regulatory, Investment and Ease of doing business Reforms. Addressing the gathering on the occasion, he remarked that the post-budget webinars on manufacturing and export are of great importance. Mentioning that this budget is the first full budget of the Government’s third term, he emphasised that the most notable aspect of this budget is its delivery, which exceeded expectations. Shri Modi pointed out that in several sectors, the Government has taken steps beyond what experts had anticipated. He also highlighted that significant decisions have been made regarding manufacturing and export in this budget. 

    Pointing out that the country has witnessed consistent Government policies for over a decade, the Prime Minister highlighted that in the past 10 years, India had shown a commitment to reforms, financial discipline, transparency, and inclusive growth. He emphasized that the assurance of consistency and reforms has brought new confidence within the industry. He assured every stakeholder in manufacturing and export that this consistency will continue in the coming years. Encouraging stakeholders to take bold steps and open new avenues for manufacturing and export for the country, Shri Modi highlighted that every country in the world wants to strengthen its economic partnership with India. He urged the manufacturing sector to take full advantage of this partnership.

    “Stable policy and a better business environment are crucial for the development of any country”, said the Prime Minister, highlighting that a few years ago, the Government introduced the Jan Vishwas Act and made efforts to reduce compliances. Over 40,000 compliances were eliminated at both central and state levels, promoting ease of doing business, he noted. Emphasizing that this exercise should continue, Shri Modi mentioned that the Government had introduced simplified income tax provisions and is working on the Jan Vishwas 2.0 Bill. A committee has been formed to review regulations in the non-financial sector, aiming to make them modern, flexible, people-friendly, and trust-based, he added further and highlighted the significant role of the industry in this exercise. He encouraged stakeholders to identify problems that take longer to resolve, suggest ways to simplify processes, and guide where technology can be used to achieve quicker and better results.

    “The world is currently experiencing political uncertainty, and the entire world views India as a growth center”, said Shri Modi, highlighting that during the COVID crisis, when the global economy slowed down, India accelerated global growth. He added that this was achieved by advancing the vision of Aatmanirbhar Bharat and accelerating reforms. He emphasized that these efforts minimized the impact of COVID on the economy, helping India become one of the fastest-growing economies. He said, “India remains a growth engine for the global economy and has proven its resilience in challenging situations”. Pointing out that disruptions in the supply chain affect the global economy, and the world needs reliable partners that produce high-quality products and ensure reliable supply, Shri Modi emphasized that India was capable of fulfilling this need, presenting a significant opportunity for the country. He urged the industry not to be mere spectators but to actively seek their role and carve out opportunities. He pointed out that it is easier today compared to the past, as the country has friendly policies and the Government stands shoulder to shoulder with the industry. The Prime Minister called for a strong resolve, objectivity in seeking opportunities in the global supply chain, and accepting challenges. He emphasized that if every industry takes one step forward, collectively, they can achieve significant progress.

    Highlighting that 14 sectors were currently benefiting from the PLI scheme, the Prime Minister said that under the scheme, more than 750 units have been approved, resulting in an investment of over ₹1.5 lakh crore, production worth over ₹13 lakh crore, and exports exceeding ₹5 lakh crore. He emphasized that this demonstrates how entrepreneurs can advance in new areas when given opportunities. Shri Modi announced the decision to launch two missions to promote manufacturing and export. He highlighted the focus on better technology and quality products, as well as the emphasis on skilling to reduce costs. He urged all stakeholders to identify new products in demand globally that can be manufactured in India and encouraged them to approach countries with export potential strategically.

    “R&D has played a crucial role in India’s manufacturing journey and needs further advancement and acceleration”, remarked the Prime Minister. He highlighted that through R&D, the focus can be on innovative products and value addition to existing products. He emphasized that the world recognizes the potential of India’s toy, footwear, and leather industries and by combining traditional crafts with modern technologies, significant success can be achieved. He noted that India can become global champion in these sectors, leading to a substantial increase in exports. Shri Modi highlighted that this growth will create lakhs of job opportunities in labor-intensive sectors and promote entrepreneurship. Mentioning that the PM Vishwakarma Yojana provides end-to-end support to traditional artisans, he urged efforts to connect these artisans with new opportunities and called on all stakeholders to come forward to expand the hidden potential in these sectors.

    “MSME sector is the backbone of India’s manufacturing and industrial growth”, said the Prime Minister. He highlighted that in 2020, the Government made a significant decision to revise the definition of MSMEs after 14 years, which eliminated the fear among MSMEs that they would lose government benefits if they grew. He noted that the number of MSMEs in the country has increased to over 6 crore, providing employment opportunities to crores. Shri Modi emphasized that in this budget, the definition of MSMEs has been further expanded to instill confidence in their continuous growth. This will create more employment opportunities for the youth, he said, highlighting that the biggest problem faced by MSMEs was the difficulty in obtaining loans. He added that ten years ago, MSMEs received loans worth approximately ₹12 lakh crore, which has now increased to around ₹30 lakh crore. The Prime Minister announced that in this budget, the guarantee cover for MSME loans has been doubled to ₹20 crore. Additionally, customized credit cards with a limit of ₹5 lakh will be provided to meet working capital needs.

    Underlining that the Government had facilitated loan access and introduced a new type of loan, Shri Modi highlighted that people are now receiving loans without guarantees, something they never imagined before. Over the past 10 years, schemes like MUDRA, which provide loans without guarantees, have also supported small industries, he said, noting that the Trades portal is resolving many loan-related issues. The Prime Minister emphasized the need to develop new modes of credit delivery, ensuring that every MSME has access to low-cost and timely credit. He announced that five lakh first-time entrepreneurs from women, SC, and ST communities will receive loans of ₹2 crore. He highlighted that first-time entrepreneurs need not only credit support but also guidance and urged the industry to create a mentorship program to help these individuals.

    Underscoring the role of states is crucial in boosting investment, Shri Modi emphasized that the more states promote ease of doing business, the more investors they will attract. He pointed out that this will benefit the respective states the most. He encouraged competition among states to see who can make the most of this budget. He noted that states with progressive policies will attract companies to invest in their regions.

    Expressing confidence that all participants are seriously considering these topics, the Prime Minister emphasized that the webinar aims to determine actionable solutions. He highlighted the importance of participants’ cooperation in preparing policies, schemes, and guidelines. He noted that this will help in formulating implementation strategies post-budget. He concluded by expressing his belief that the participants’ contributions will prove to be very useful.

    Several Union Ministers were present among other dignitaries over video conferencing on the occasion.

    Background

    The webinars will provide a collaborative platform for government officials, industry leaders, and trade experts to deliberate on India’s industrial, trade, and energy strategies. The discussions will focus on policy execution, investment facilitation, and technology adoption, ensuring seamless implementation of the Budget’s transformative measures. The webinars will engage private sector experts, industry representatives, and subject matter specialists to align efforts and drive impactful implementation of Budget announcements.

     

     

    ***

    MJPS/SR

    (Release ID: 2108027) Visitor Counter : 106

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: “When I learned about studying global economics at HSE, I realized that it was right for me”

    Translartion. Region: Russians Fedetion –

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

    Elizaveta Tsaregorodtseva

    © Higher School of Economics

    On February 27, as part of the All-Russian campaign “Yolka Zhelaniy” (Wish Tree), the cherished dream of tenth-grader Elizaveta Tsaregorodtseva from the Saratov Region came true. The schoolgirl was able to visit the Higher School of Economics, talk to students and teachers, and walk around the university building. Liza learned first-hand how to enter one of the best universities in Russia, as well as why studying here is difficult but exciting.

    The most cherished wishes tend to come true, and that’s a fact. Elizaveta Tsaregorodtseva took part in the “Yolka Zhelaniy” campaign for the third year in a row, and finally her ball was taken off the tree by the Russian Minister of Energy Sergey Tsivilev. Liza’s dream came true: she went to Moscow to visit Faculty of World Economy and World Politics (FMEiMP) HSE University.

    “When I was choosing what wish to make, I was thinking about my future – about further education, about entering a university. That’s why I wrote about HSE, I wanted to see it, get to know the faculty,” the schoolgirl said. She is interested in studying languages, so her future path should be connected with the international direction.

    “I also like economics and mathematics, I like to count and analyze economic processes. When I learned about studying global economics at the National Research University Higher School of Economics, I realized that this is exactly what suits me,” noted Elizaveta.

    She was delighted with the HSE: “When I woke up in the morning, I felt excitement and anticipation, and when I saw the HSE building, my heart fluttered.”

    Deputy Dean for work with applicants and graduates of the faculty Anna Zhikhareva, as well as fourth-year students of the OP ” gave Liza, her mother and Daria Gorbunova, a representative of the Ministry of Energy, a tour of the buildings of the Faculty of Economics and Management.World Economy” and members of the Student Council Mikhail Zavgorodniy and Vasily Arzumanyan. They told about all the features of studying at the HSE.

    “We study economics with all the foreign policy circumstances in mind, as part of global world processes. It turns out to be a complex history that is the most honest in relation to our students. We pay less attention to the theory that does not work in practice or works, but not always,” Anna Zhikhareva noted.

    Mikhail Zavgorodniy explained that students get acquainted with the basic principles of economics for the first year and a half to two years, then they are divided into trajectories depending on the interests of each student. “You can delve into finance or study a specific region. If you choose Chinese, then there are many subjects related to Chinese culture, economics and foreign policy,” he said.

    “It is important to know that the policy of our program is that any economist should have a strong foundation in mathematics, so in the first year we teach mathematical analysis, linear algebra, and discrete mathematics,” added Vasily Arzumanyan.

    Liza Tsaregorodtseva asked students many questions about HSE. For example, she was interested in how student life goes outside of studies. “We have an abundance of events – scientific, cultural, and entertaining, you can participate in everything,” Mikhail Zavgorodniy answered.

    They told Liza about the help senior students give to first-year students and about the work of the study office. “Studying is difficult, students often ask: when will it be easy? When you have your diploma in hand,” shared Tatyana Bukanova, a specialist in educational and methodological work at the National Research University Higher School of Economics.

    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 Russia: Students of SPbGASU were invited to practice at Rosatom

    Translartion. Region: Russians Fedetion –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Marina Malyutina

    In 2025, the Russian nuclear industry will celebrate its 80th anniversary. In honor of this event, the Center for Student Entrepreneurship and Career at SPbGASU organized a lecture for students by representatives of the St. Petersburg Design Institute, a branch of JSC Atomenergoproekt, which is part of the State Atomic Energy Corporation Rosatom and is engaged in the design and construction of nuclear power facilities in our country and abroad.

    Marina Malyutina, Vice-Rector for Youth Policy at SPbGASU, on behalf of the university management thanked Atomenergoproekt for their long-term cooperation: organizing internships, holding career guidance meetings, launching training courses, and hiring graduates. Marina Viktorovna is confident that engineering professions and, in particular, the profession of a civil engineer, are in great demand today. It is better for young specialists to start their careers in a large state corporation, where they can gain new knowledge and integrate into the corporate environment.

    Andrey Khlyzov

    Andrey Khlyzov, Deputy Head of Technological Directorate-2, spoke about the past, present and future of the nuclear industry. He reported that 360-370 thousand people work in the Rosatom corporation. Its traditional product is nuclear energy. The corporation is also diversifying its economic capacities and is engaged in new products, including a scientific complex, development of the Northern Sea Route, wind energy, nuclear medicine, advanced materials and technologies, etc. The geography of the projects is very extensive: 22 units are at the implementation stage in seven countries.

    “Rosatom has no competitors. We are leaders, our projects are cheap and safe,” the speaker said.

    Andrey Nasedkin, Head of the Department of Integrated Design of Security Systems from Technological Directorate-1, introduced the students to the main stages of design work. The students were particularly interested in the possibility of undergoing practical training in the departments of integrated design, where the “heart” of the nuclear power plant – the nuclear island – originates.

    Musalan Suleimanov, Head of the Construction Department, informed about the work of the division he heads. The department unites one architectural and four construction departments, a metal structures department, an estimate department, a research and calculation-theoretical department of building structures, a department for designing fire safety measures, civil defense and emergency situations, a group for geotechnical calculations and analysis of the interaction of NPP structures with soil, a group for production support and production control and analysis.

    “A modern nuclear power plant that comes from our “pen” will withstand the fall of a large commercial aircraft at a speed of 400 meters per second, an earthquake of up to nine points, additional impacts – internal explosions, external explosions, tornadoes, extreme weather conditions. We even designed a building on a geotechnical fault. That is, we justified to the strictest Finnish regulator – and, by the way, he accepted this justification – the possibility of building a nuclear power plant on an existing geotechnical fault,” said Musalan Suleimanov.

    Students had the opportunity to communicate directly with professionals. They asked about the conditions of internship, salary levels, and the support that young professionals receive.

    The speakers emphasized that Rosatom needs good engineers. It takes four to five years to become one. But after a year, the guys who come straight from university show results. Mentoring is well-developed in the state corporation; new employees do not go through their development path alone. A big plus is that the work is associated with a considerable number of business trips around the world. Here you quickly become a professional, and when you see with your own eyes a facility under construction that will soon provide people with electricity and heat, you feel proud.

    At the end of the meeting, the students played the “Atomic Quiz” and received corporate gifts from Atomenergoproekt. The meeting broadened their professional horizons and encouraged them to think about building a career at Rosatom.

    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 Russia: From Childhood to Career: How the Educational Verticals Project Helps Schoolchildren Decide on a Profession

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    There are kids in Moscow who have been conducting scientific research, creating smart technology and speaking at conferences since they were 13. They go to regular schools, but study from the seventh to the ninth grade under a special program of the city project “Educational verticals”It has been implemented since 2018 and helps to choose the direction of future activities in advance, to enter a specialized or pre-professional class.

    The project has already been joined more than 87 thousand children from 465 schoolsThere are currently three verticals in the capital: mathematics, information technology (IT), and natural sciences.

    About enrollment in the project and how it helps find your life’s work – in the mos.ru article.

    “Mathematical vertical”: for any profession

    The first in the project was “Mathematical vertical”: schools began implementing it in 2018. In 2025, more than 51 thousand children in 460 educational institutions are studying under this program.

    “The mathematical direction, perhaps the most popular, opens up the broadest prospects for teenagers. After the ninth grade, they can go to almost any pre-professional classes: engineering, IT, entrepreneurship. Knowledge of practical mathematics is necessary for athletes, art historians, and musicians,” says the curator of the “Mathematical Vertical” School No. 1502 “Energy” Galina Bezrukova.

    The main condition for admission to the vertical is to study well. At the end of the sixth grade, children undergo testing (diagnostics) by the Moscow Center for Education Quality (MCEQ) in mathematics and functional literacy – the ability to navigate a large amount of information, deeply analyze text and apply mathematical knowledge in practice. For example, one of the tasks may be: “Determine which theater has cheaper tickets and how to get there faster.” Annual diagnostics are mandatory for all schoolchildren, but to become a vertical student, sixth-graders need to pass all tests with a good or excellent grade.

    Even before the MCCO, teachers pre-select those who will be suitable for the vertical program. They pay attention to children who not only study well, but also attend math or IT clubs and participate in Olympiads from elementary school. Parents of these children are advised to think about enrolling in the project. In the first year of the vertical, the student finally decides whether he has chosen the right direction Natalya Vorobyeva, curator of the Mathematical Vertical and IT Vertical projects at the Institute for the Development of Profile Education at the Moscow City Pedagogical University (MCPU)

    Schools that have educational verticals form one or more classes for project participants. Those who chose the “Mathematical Vertical” have four to five hours of algebra, two to three hours of geometry, one to two hours of probability and statistics, and two hours of additional classes after school.

    The teaching aids used in the project are distinguished not only by their scientific nature, that is, respect for the subject, but also by their accessibility, that is, respect for the student. Complex things are explained in the simplest possible way. Each section contains practical, life-related tasks. Therefore, learning is exciting, and when a child is interested, he does not notice the increased workload Galina Bezrukova, curator of the “Mathematical Vertical” of school No. 1502 “Energy”

    Nine universities participate in the “Mathematical Vertical”. Among others are the Lomonosov Moscow State University, the National Research University Higher School of Economics, and the Bauman Moscow State Technical University. University teachers conduct master classes for children, teach them how to write project papers, and suggest research topics.

    “IT-vertical”: for those who want to become a programmer and inventor

    “IT-vertical” has existed since 2022. 194 schools and about 12 thousand teenagers participate in this project.

    Those who entered the IT-vertical class at our school study eight hours of mathematics and two hours a week of computer science, programming, and technology. In technology classes, children study modeling and prototyping, and from the eighth grade, electronics and microprocessor technology are added. In addition, project participants are required to attend at least two clubs, for example, robotics, project activities, or the basics of creating devices for a smart home Roman Koltunov, curator of the IT-vertical, school No. 444

    The project is cooperating with 12 Moscow universities, including the National University of Science and Technology “MISIS”, MIREA – Russian Technological University, I.M. Sechenov First Moscow State Medical University, and N.I. Pirogov Russian National Research Medical University. Teachers from these educational institutions guide the students and suggest ideas for development.

    “Two ninth-grade students from School No. 444, Kamila Sabirova and Taisiya Yablonovskaya, for example, created a device for brewing tea: boiling water is poured into a glass, a robotic hand dips a tea bag into it, and a person, meanwhile, sets the parameters for the strength of the drink in the program,” a mos.ru source shared.

    And ninth-graders from the same school, Nikolai Valchuk and Daniil Devyaterikov, invented a home flight simulator for future pilots. The engine control levers, made similar to those used in airplane cockpits, are connected to a computer, and a novice specialist can train without leaving his room.

    “Since early childhood, I have loved programming and assembling things with my own hands, and I am interested in the aviation industry. My dream is to make an ion engine that can be used in space satellites. It works from a cylinder with inert gas, and is wear-resistant. In the near future, I hope to complete this development and test it on a small boat,” explains Nikolai Valchuk, a ninth-grader at School No. 444.

    “Natural Science Vertical”: Future Doctors and Ecologists

    “Natural Science Vertical” appeared in schools in 2022. More than 17 thousand students in 253 schools study under this program. The knowledge will be useful in medicine, pharmaceuticals, psychology, energy industry, genetics, ecology. The project partners are 10 universities, in particular the First Moscow State Medical University named after I.M. Sechenov, the Russian National Research Medical University named after N.I. Pirogov, Peoples’ Friendship University of Russia, Moscow State Pedagogical Univ.

    In the natural science vertical classes, schoolchildren have more hours of physics, chemistry and biology than in a regular class. Moreover, chemistry starts not in the eighth grade, but in the seventh. In addition, teenagers have additional courses in natural science, which are allocated at least an hour a week. The guys devote the same amount of time to project-research activities. Since the age of 13, they have been speaking at city scientific and practical conferences Elena Semyashova, curator of the Natural Science Vertical project at the Institute for the Development of Specialized Education at Moscow State Pedagogical University

    So, inschool #2070 named after Hero of the Soviet Union G.A. Vartanyan Children in the seventh grade stay after school for classes on plant and animal physiology, and in the ninth grade – on inorganic synthesis.

    This year, the project participants prepared 28 scientific papers on human anatomy and physiology. For example, they found out that in-ear headphones contribute to the development of ear infections. It turned out that almost none of the respondents treat the device with an antiseptic. Based on the results of the testing, the children wrote a memo on the use of headphones and placed it in the hallway Olesya Lukinskaya, curator of the Natural Science Vertical at School No. 2070

    One of the students in the Natural Science Vertical class at this school, eighth-grader Victoria Fedyanova, conducted a study: she interviewed 50 teenagers, then measured their blood pressure before classes and during tests. It turned out that those who sleep less than seven hours and often experience stress are prone to a 20 percent increase in blood pressure. “I’m thinking of studying to become a doctor, perhaps an endocrinologist. I’m sure that the knowledge I gained through the vertical program will help me enter a university,” Victoria sums up.

    The MES library was used almost 60 million times in a yearPhysics and computer science are among the most popular subjects for schoolchildren to take the Unified State ExamTouch the world of science. How academic classes in Moscow schools prepare future scientistsIndustry and IT sector: the most sought-after sectors for employment in Moscow have been named

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/150878073/

    MIL OSI Russia News

  • MIL-OSI Russia: More than 250 thousand gas stoves have been checked in Moscow since the beginning of the year

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    This year, specialists from the capital’s municipal services complex have checked more than 250 thousand gas stoves installed in Muscovites’ apartments. This was reported by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

    “Gas safety issues are under special control, and scheduled maintenance of all gasified housing stock is carried out annually. In January-February, more than 250 thousand gas stoves were checked for compliance with safety requirements, which is almost 14 percent of the total number,” noted Petr Biryukov.

    Currently, about 1.8 million families in the capital use gas stoves. In order for this equipment to operate safely, it is very important to check it in a timely manner. Gas workers eliminate minor faults on the spot, and if serious violations are detected, they eliminate the safety threat and give recommendations for further operation and repair. Responsibility for maintaining and replacing gas equipment in proper condition rests with the owner or tenant of the residential premises.

    The service life of a gas stove is on average 10-12 years, after which the gas taps wear out, the burner diffusers become deformed, and the thermal insulation of the oven is damaged. It is impossible to maintain the safe operation of such devices; replacement is necessary.

    Gas stoves must be equipped with a gas control system that stops the gas supply if the flame in the burner goes out.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/150896073/

    MIL OSI Russia News

  • MIL-OSI United Nations: Press Release 04 March 2025 Report: How climate insights drive a more reliable renewable energy transition

    Source: World Meteorological Organization

    Highlights

    Renewable Energy Generation & Demand in 2023 (expressed as a percentage change from the 1991-2020 baseline)

    Figure: Global annual deviations for the four energy indicators – wind, solar, hydropower and energy demand – as presented in the report. Deviations are expressed as percentages for 2023 relative to the 1991-2020 reference period average and are aggregated by region. Hatching is used to highlight negative values for easier identification. 

    Note: The boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by WMO, the United Nations, IRENA or the European Union. 

    Key energy indicators – wind, solar, hydropower and energy demand – exhibited significant geographic variability in 2023 compared to the long-term climate average (1991-2020). Driven by drier and warmer El Niño conditions, South America experienced a 3.9% increase in solar photovoltaic (PV) capacity factor (CF), leading to an estimated 3.5 TWh/year of additional generation from the region’s 50 GW installed capacity. Similarly, East Asia saw a 4.1% positive anomaly in wind power, generating an estimated 45 TWh from its 420 GW of installed onshore capacity, with 95% of this in China.

    Climate informed energy planning: The report illustrates the potential applications of seasonal forecasts as a valuable tool for energy planning and management.  Seasonal climate forecasts empower stakeholders to anticipate supply–demand fluctuations, optimize grid operations and enhance energy system resilience. They also enable better preparation for extreme weather events, ensuring energy security and minimizing disruptions.

    Policy implications for achieving 2030 targets: Diversified energy portfolios, combining wind, solar and hydropower with emerging technologies such as geothermal and storage, are essential to mitigate the impact of climate variability and change on renewable power generation and management. 

    Regional collaboration and localized solutions will also play a key role in balancing supply–demand dynamics, optimizing cross-border energy flows and building resilient energy infrastructures.

    Comprehensive energy data collection and sharing are vital for advancing the understanding of climate variability’s impacts on energy supply and demand.

    Adopting a climate-informed, collaborative approach will accelerate progress toward a sustainable, net-zero future, says the report.

    It also recommends the creation of new market structures to account for the flexibility of new and clean power systems.

    Despite abundant renewable energy resources, Africa accounts for only 2% of global installed capacity. By integrating resource potential with climate information, countries can effectively develop renewable energy infrastructure to support industrialization and economic growth, accelerating sustainable development across the continent.

    Achieving the 1.5 °C climate target necessitates substantial increases in renewable energy capacities by 2030 and 2050.

    Wind power installed capacity surpassed 1 000 GW in 2023, a 13% increase compared with 2022). Solar power has been growing considerably faster than wind power, with an installed capacity reaching 1 420 GW in 2023, a 32% increase compared with 2022. Hydropower has grown slightly, with an installed capacity of about 1 410 GW in 2023, an increase of 1% compared with 2022.

    Wind power capacity is projected to reach approximately 3 000 GW by 2030 and 8 000 GW by 2050, solar power capacity is expected to expand to about 5 400 GW by 2030 and 18 000 GW by 2050, and hydropower capacity is anticipated to grow to 1 500 GW by 2030 and 2 500 GW by 2050.

    These figures are consistent with the targets established in the UAE Consensus during COP28 in 2023, which emphasized the need to triple RE capacity by 2030.

    Additionally, IRENA reported significant cost reductions in Renewable Energy technologies between 2010 and 2023, with solar energy costs decreasing by approximately 90% and wind energy costs by about 68%.

    The World Meteorological Organization (WMO) is a specialized agency of the United Nations responsible for promoting international cooperation in atmospheric science and meteorology.

    WMO monitors weather, climate, and water resources and provides support to its Members in forecasting and disaster mitigation. The organization is committed to advancing scientific knowledge and improving public safety and well-being through its work.

    MIL OSI United Nations News

  • MIL-OSI: Hotspot signs Memorandum with Clear Blue led Consortium to deploy 312 Telecom Site across Nigeria

    Source: GlobeNewswire (MIL-OSI)

    BARCELONA, Spain, March 04, 2025 (GLOBE NEWSWIRE) — Clear Blue Technologies International Inc. (TSXV: CBLU) the Smart Power Company, today announces that Hotspot (the leading telecommunications service provider in Nigeria) has signed a Memorandum of Understanding with a Clear Blue led consortium, including partners Empower New Energy and Netis, to deploy 312 solar powered telecom sites across Nigeria. The deal is subject to final contract negotiations and signatures and the rollout is targeted for the end of 2025.

    The consortium brings a group of expert skills and capabilities to quickly design, build and then operate the telecom network, solar power and tower sites:

    • Hotspot is a leader in building active telecom networks and services across Nigeria.
    • Clear Blue Technologies is the leader in providing highly reliable, low-cost Smart solar power for telecom infrastructure. With Clear Blue’s industry leading and patented Illumience Smart Power, and its ongoing service management, telecom services are delivered with maximum service levels and uptime, at the lowest Capex and Opex in the market.
    • Empower New Energy is a leading provider of clean energy project financing across Africa. With its entrepreneurial business and execution model, it is a perfect financing partner for the project.
    • Netis specializes in operating and managing telecom infrastructure and brings strong abilities to deliver the installation, operations, and maintenance services.

    “As everyone active in the telecom market in Africa is aware, it is a difficult operating environment with challenging Total Cost of Ownership (TCO) targets. And yet, it is probably the largest untapped telecom market in the world with significant growth potential”, said Morenikeji Aniye, CEO of Hotspot. “Clear Blue brings an innovative technology and service capability which, together with an innovative business model and structure, enables us to deploy and operate these sites while meeting stringent service and TCO targets.”

    “After having worked with Clear Blue on multiple projects, we are defining a speedy and unique model of partnership between the Smart Power provider and the financier. Together, we are able to deliver unparalleled value and flexibility in project structure and contracts to bring a financing model that will work for developers such as Hotspot,” said Terje Osmundsen, CEO of Empower New Energy.

    “We are thrilled to partner with Clear Blue and Empower and to support Hotspot in their aggressive growth plans,” said Hatim Zougary, Chief Business Development Officer of Netis.

    “The partners in this project bring together a very strong set of skills and an ability to execute that will ensure success for this project and hopefully many more phases to come,” said Miriam Tuerk, CEO of Clear Blue. “We are thrilled to have been chosen by Hotspot for this project which will bring connectivity to millions across Nigeria.”

    About Hotspot

    Hotspot Network Ltd, founded in 2008, obtained a co-location and Infrastructure Sharing License in 2012 and later an Internet Service Provider License from the NCC, enabling it to offer a wide range of telecommunications services, including managed services, wireless and mobile solutions, engineering support, and microwave solutions. Collaborating with a global network of partners, the company has grown rapidly to become a leading player in Africa’s digital transformation, renowned for innovative, award-winning solutions and exceptional client satisfaction. Its strategic alliances provide enterprise-level multi-sourcing opportunities, offering robust solutions and deep technical expertise. As a one-stop shop for connectivity and telecommunications, Hotspot Network Ltd.’s brand symbolizes evolving technology, guided by core values of Insight, Integrity, Innovation, Synergy, Safety, and Sustainability, reflected in its distinctive corporate identity.

    About Empower New Energy

    Established in 2017, Empower New Energy is a renewable energy financier and co-developer that finances, builds and owns clean power plants for commercial, industrial and agricultural energy users. https://www.empowernewenergy.com

    About Netis

    NETIS is a global leader in the telecommunications industry, with over 15 years of expertise in designing and developing high-performance network communication solutions. Netis specializes in the inception and construction of robust GSM, fiber optic, and energy networks, as well as the ongoing maintenance and optimization of existing infrastructures. Operating across 16 subsidiaries, NETIS actively delivers innovative telecom solutions throughout Africa.

    About Clear Blue Technologies International

    Clear Blue Technologies International, the Smart Off-Grid™ company, was founded on a vision of delivering clean, managed, “wireless power” to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices, and other mission-critical systems. Today, Clear Blue has thousands of systems under management across 37 countries, including the U.S. and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF)

    Legal Disclaimer:

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

    For more information, contact:

    Miriam Tuerk, Co-Founder and CEO
    +1 416 433 3952
    miriam@clearbluetechnologies.com
    www.clearbluetechnologies.com/en/investors

    The MIL Network

  • MIL-Evening Report: Environment Minister Tanya Plibersek has been taken to court over 11 threatened species. Here’s why

    Source: The Conversation (Au and NZ) – By Euan Ritchie, Professor in Wildlife Ecology and Conservation, School of Life & Environmental Sciences, Deakin University

    Carnaby’s Black Cockatoo Imogen Warren/Shutterstock

    What do the Australian lungfish, ghost bat, sandhill dunnart and southern and central greater gliders have in common? They’re all threatened species that need a formal “recovery plan” – but do not have one.

    Today, environmental group the Wilderness Society launched a case in the Federal Court against Environment Minister Tanya Plibersek, arguing she and successive environment ministers have failed to meet their legal obligations to create threatened species recovery plans.

    Other species forming the basis of the case are Baudin’s cockatoo, the Australian grayling, Carnaby’s black cockatoo, red goshawk, forest red-tailed black cockatoo and the Tasmanian wedge-tailed eagle.

    Many other species and ecological communities also don’t have recovery plans. If successful, the case would set a precedent compelling future environment ministers to meet their legal obligations and improve Australia’s dire conservation record. This is a significant moment for conservation in Australia – testing how accountable environment ministers are in preventing species extinctions.

    Why do recovery plans matter?

    Threatened species recovery plans lay out very clearly why species or ecological communities are in trouble and the actions necessary to save them. Once a plan is in place, it can directly benefit the species by tackling threats and safeguarding habitat.

    Proposals such as a new farm, suburb or mining project can be assessed by the environment minister and rejected if they are inconsistent with recovery plans and place threatened species at increased risk of extinction. Recovery plans have helped dozens of species come back from the brink.

    Under Australia’s national environmental laws, the environment minister must decide whether a recovery plan is required for a species or ecological community listed as threatened.

    If a plan is ordered, it must typically be created within three years. But a 2022 Auditor-General’s report found just 2% of plans met this timeframe.

    Recovery is possible, but plans are vital

    Successive governments have failed to keep up with creating and implementing recovery plans in a timely manner. The perennial and chronic lack of funding for conservation means there’s little capacity to do the vital but time-consuming work of planning and recovery.

    As a result, the federal government has increasingly shifted to offering conservation advices in place of recovery plans. Conservation advices can be produced and updated faster than recovery plans. This is useful if, say, a new threat emerges and needs a rapid response.

    But there’s a key legal difference. When the environment minister is considering a project such as land clearing for new farmland or a mine, they need only consider any conservation advice in place. When a recovery plan is in place, the minister is legally obliged not to approve actions which are contrary to its objectives and would make the plight of a species or ecological community worse.

    A conservation advice can be thought of more like a fact sheet without the same legal weight or accountability that recovery plans have.

    In March 2022, the Morrison government scrapped recovery plans for 176 threatened species and habitats, despite thousands of submissions arguing against this.

    After the Albanese government took power in May 2022, it pledged to end “wilful neglect” of the environment and to introduce stronger environmental laws. Sadly, this commitment has not been honoured.

    The range of northern Australia’s ghost bats has shrunk significantly.
    Ken Griffiths/Shutterstock

    Why do we need recovery plans?

    Australia’s species protection record is unenviable. Since European colonisation, more than 100 species have been driven to extinction and more than 2,000 species and ecological communities are listed at risk of suffering the same fate.

    For a species to be considered threatened, its population has to have shrunk. The severity of the decline and hence its extinction risk will determine how it’s categorised, from vulnerable through to critically endangered. Recovery plans lay out the research required to actually recover these species, meaning helping their populations to grow out of the danger zone.

    A key role for these plans is to coordinate planning and action between relevant interest groups and agencies. This is especially important for species found across state and territory borders, such as the southern greater glider and the migratory swift parrot. The greater glider should have had a recovery plan in place since 2016, but does not.

    Are individual plans still worthwhile?

    Faced with so many species in need of protection and limited funding, prominent figures including former Environment Minister Peter Garrett have argued we should focus our efforts on protecting ecosystems rather than single species to make the best use of scarce funds.

    But there is a deeper issue. Australia is one of the wealthiest nations in the world. It has the capacity to greatly increase conservation spending without impoverishing humans, and should do so for the benefit of the economy, culture and our health and wellbeing.

    That’s not to say ecosystem protection isn’t worthwhile. After all, ecosystems are made up of species and their interactions with each other and their environment. You cannot have healthy species without healthy ecosystems and vice versa.

    But if we focus only on protecting large expanses of wetland, forest and grasslands, we risk overlooking a key issue. Two species in the same ecosystem can be very differently affected by a specific threat (predation by foxes, for instance). Some species can even have conflicting management needs. For some species, invasive species are the biggest threat, while climate change and intensified fire regimes threaten others the most.

    The sandhill dunnart is one of 11 species listed in the court case.
    Kristian Bell/Shutterstock

    Extinction is a choice

    As Australia’s natural world continues to deteriorate, climate change deepens and worsening wildlife woes abound, these issues will no doubt be front of mind for many in the upcoming federal election.

    It can be easy to see these trends as inevitable. But they are not – the collapse of nature is a choice. We have what we need for success, including traditional, ecological and conservation knowledge. What’s sorely needed is political will.

    There were once fewer than 50 northern hairy-nosed wombats alive. Today, that number exceeds 400. When supported, conservation can succeed.

    Almost all Australians want their government to do more to save our species. Let us hope whoever forms the next government takes up that challenge – even if it takes court cases to prompt action.

    Euan Ritchie receives funding from the Australian Research Council and the Department of Energy, Environment, and Climate Action. Euan is a Councillor within the Biodiversity Council, a member of the Ecological Society of Australia and the Australian Mammal Society, and President of the Australian Mammal Society.

    ref. Environment Minister Tanya Plibersek has been taken to court over 11 threatened species. Here’s why – https://theconversation.com/environment-minister-tanya-plibersek-has-been-taken-to-court-over-11-threatened-species-heres-why-219231

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: Albanese Government backs maritime skills and training

    Source: Australian Ministers 1

    The Albanese Labor Government is investing $16.9 million to support skills and training in the maritime industry. 

    A new maritime skills and training initiative will give up to 20 trainee seafarers each year, for four years, access to berths to complete sea time required for international certification.

    This will support the Government’s maritime Strategic Fleet and the broader industry.

    $2.5 million will also flow to the Transport and Logistics Jobs and Skills Council (JSC) to address training barriers, and ultimately Australia’s maritime skills shortage.

    The JSC’s 2024 Maritime Workforce Plan confirmed that access to training berths is a major issue, with lacking coordination across industry and training providers resulting in sea time not being effectively accessed and utilised.

    Today’s announcement directly responds to recommendations identified by both the Maritime Workforce Plan and Strategic Fleet Taskforce Final Report, and will also support the implementation and long-term sustainability of a maritime Strategic Fleet.

    The Government released the Strategic Fleet Taskforce Final Report in November 2023, before undertaking targeted consultation with vessel operators and unions.

    We are now moving ahead with delivering on the report’s recommendations. 

    Late last year, the Strategic Fleet Pilot tender closed and proposals are now being evaluated as part of a competitive, open and transparent procurement process.

    The Government also appointed Ms Lynelle Briggs and Prof Nicholas Gaskell to co-chair reviews of the Shipping Registration Act 1981 and Coastal Trading (Revitalising Australian Shipping) Act 2012 to support the long-term sustainability of Australia’s maritime industry and Strategic Fleet, which are now underway.

    Meanwhile, the Australian Maritime Safety Authority is collaborating with the Fair Work Ombudsman to address wage theft issues aboard foreign-flagged vessels operating under the Coastal Trading Act, signing an updated Memorandum of Understanding earlier this year.

    Quotes attributable to Infrastructure, Transport, Regional Development and Local Government Minister Catherine King:

    “Our investment in a new skills and training program will give trainee seafarers vital access to berths onboard vessels – including those under contract to the Australian Government – needed to meet their international certification. 

    “Not only will this be welcome news for vocational and tertiary level qualified seafarers in need of sea time, it will also support the vessels offering the training berths.

    “This is yet another demonstration of our Government’s commitment to investing in a sustainable maritime industry, one with the skills needed to thrive into the future.”

    Quotes attributable to Skills and Training Minister Andrew Giles:

    “The maritime industry is so important to the Australian economy, so it is critical that we have the skilled seafarers to keep it afloat.

    “We’ve recently established a Maritime Skills Network, bringing together government, industry and unions, to come up with solutions to challenges in the sector and this announcement will go a long way towards workforce shortage concerns.

    “This program will ensure a pipeline of trained Australian seafarers over the coming years that can fill critical functions such as harbour masters, marine pilots and regulatory roles protecting our environment and the safety of vessels operating in our waters.”

    MIL OSI News

  • MIL-OSI Economics: [MWC 2025] Explore AI-Powered Innovation in Mobile, Health, Home and Networks With Samsung

    Source: Samsung

    Mobile World Congress (MWC) 2025 officially opened in Barcelona on March 3, bringing together industry leaders and technology enthusiasts at the world’s largest mobile technology exhibition. Samsung Electronics stole the spotlight with dynamic experience zones centered around the Galaxy S25 series — offering a glimpse into the future of AI-driven mobile experiences — alongside a dedicated space for next-generation network solutions.
     
    ▲ View of the MWC 2025 venue, Fira Gran Via
     
    With over 110,000 attendees expected at MWC 2025, the streets of Barcelona buzzed with excitement even before the event’s official opening. Amid the growing anticipation, large advertisements showcasing the Galaxy S25 series were prominently displayed throughout the venue. Samsung Newsroom stopped by the booth to explore Samsung’s AI-driven innovations and cutting-edge hardware that are advancing mobile technology.
     
    ▲ Samsung advertisements surround Fira Gran Via.
     
     
    A True AI Companion: New Mobile Experiences With Galaxy S25 Series
    At the Fira Gran Via exhibition hall, Samsung set up a sprawling 1,745-square-meter booth highlighting the Galaxy S25 series and unveiling new possibilities for the future of mobile experiences. A massive 41-meter-wide LED screen brought Galaxy AI’s vision to life.
     
    ▲ Entrance to Samsung’s booth
     
    Inside interactive zones, attendees experienced the Galaxy S25 series’ AI, camera and performance innovations firsthand — including AI-powered personalized insights, enhanced photography and editing tools and high-performance gaming.
     
    ▲ Visitors try out the Galaxy S25 series.
     
     
    Health Solution: Revolutionizing Wellness With Intelligence
    The booth presented AI-powered personalized health insights in the Health Solution zone, a more secure smart home experience with SmartThings in the Home Solution zone and Samsung’s commitment to security and sustainability in the Galaxy Foundation zone.
     
    In the Health Solution zone, attendees learned how Samsung Health helps users manage their daily health with ease. A standout feature was Now Brief on the Galaxy S25, delivering a personalized Energy Score along with insights into the user’s previous night’s sleep and current condition. Through the Sleep details page in Samsung Health, users can review a comprehensive analysis of their sleep including duration, sleep stages and blood oxygen levels. Additionally, the Sleep environment report evaluates factors such as room brightness, temperature and humidity to help users optimize their sleep quality.
     
    “Galaxy AI is really changing the way we manage our health,” said one visitor after experiencing Samsung’s personalized health management approach that analyzes each individual’s health and interests to provide tailored guidance.
     
    ▲ Health Solution zone
     
     
    Home Solution: Creating a Smarter, More Secure Home
    In the Home Solution zone, attendees explored an enhanced smart home experience powered by SmartThings and Knox Matrix. With 3D Map View on the Galaxy Tab S10, users could visualize and manage connected smart home devices through an interactive floor plan of their home. Other SmartThings AI features on display included automated routines tailored to user preferences, fall detection alerts for elderly family members and detailed energy consumption reports to promote more efficient usage.
     
    To ensure a secure smart home experience, Knox Matrix safeguards the entire ecosystem. Attendees observed how connected devices leverage Knox Matrix to autonomously detect threats, implement protective measures and notify users.
     
    ▲ Home Solution zone
     
     
    Galaxy Foundation: A Commitment to Security and Sustainability
    At the Galaxy Foundation zone, Samsung showcased its advancements in security and sustainability for Galaxy devices. Notably, Galaxy users are able to control how their data is handled — choosing between on-device processing or via the cloud as well as enabling or disabling personalized features. Additionally, the Galaxy S25’s on-device AI analyzes personal data through the Personal Data Engine while ensuring robust security with Knox Vault.
     
    ▲ A wall explains Samsung Knox.
     
    Samsung highlighted its commitment to sustainability initiatives focused on reducing carbon emissions. Through innovative recycling technology, the batteries in the Galaxy S25 series repurpose cobalt extracted from discarded Galaxy devices. Attendees were impressed by the use of recycled fishing nets to create smartphone components and Ocean Mode, a camera setting developed for capturing footage of coral reefs underwater to support marine conservation efforts.
     
    ▲ A wall describes Samsung’s sustainability efforts, including resource circulation and marine conservation activities.
     
     
    Next-Generation Network Solutions: AI-Powered Innovations in 5G and Beyond
    In a separate, invitation-only exhibit, Samsung introduced its AI-optimized and software-centric network innovations — demonstrating the future of mobile communications.
     
    Global telecommunication operators and B2B clients were drawn to the Samsung CognitiV Network Operations Suite (NOS), a set of diverse AI-powered network automation applications providing lifecycle management of the network from planning, deployment, operation to optimization. Another key focus was AI Energy Saving Manager, an AI-powered solution that analyzes traffic patterns to maintain network quality while reducing energy consumption by up to 35%.
     
    ▲ Entrance to Samsung’s networks-focused booth
     
    Other key highlights included Samsung’s collaboration with Hyundai Motor Company to introduce the industry’s first 5G Reduced Capability (RedCap) technology for use in mass-production vehicle manufacturing. A lineup of high-performance network chipsets and various base station solutions were on display as well.
     
    ▲ A display illustrates Samsung Cognitiv NOS.
     
    Samsung’s presence at MWC 2025 reinforced its commitment to innovation — setting new standards for AI-driven user experiences and advanced network solutions while shaping the future of mobile technology.

    MIL OSI Economics

  • MIL-OSI China: How does China’s green development contribute to global climate action?

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

    BEIJING, March 4 — Recent years have witnessed record-breaking heatwaves worldwide, making it clear that global warming is not merely a distant warning but a harsh reality.

    Meanwhile, China, with its steadfast commitment and remarkable progress in green development, has emerged as a champion in the global transition to renewable energy, serving as a beacon of hope in the fight against climate change.

    What has China achieved so far? What does it mean to the world? Here is what to know.

    A GREENER CHINA

    China has been making concrete steps toward its commitment to peak carbon emissions before 2030 and achieve carbon neutrality before 2060.

    China’s carbon dioxide emissions per unit of GDP decreased by 50.9 percent in 2021 compared to 2005, the base year for the country’s climate contributions, according to recent reports submitted by China to the secretariat of the UN Framework Convention on Climate Change.

    The country has been growing literally greener. China’s forest coverage rate reached 25 percent by 2023, with forest stock exceeding 20 billion cubic meters. The annual carbon-sink capacity of China’s forests and grassland has exceeded 1.2 billion tons of carbon dioxide equivalents, ranking first in the world.

    Meanwhile, renewable energy expansion in China continues to set new records, with over 200 million kilowatts of newly installed capacity for renewable energy power generation in the first three quarters of 2024, accounting for more than 80 percent of total new installed capacity. In 2023, China accounted for 60 percent of the new renewable capacity added worldwide, according to World Energy Outlook 2024.

    Electricity generated from clean energy accounted for 39.7 percent of the country’s total power generation in 2023, up by around 15 percentage points from 2013, according to a white paper titled China’s Energy Transition issued in 2024.

    China is also a top player in reducing energy intensity, with 26 percent down since 2012. Its production and sales of new energy vehicles have topped the world for 10 consecutive years.

    China’s achievements in green development reflect its strong commitment to balancing economic development with environmental sustainability, said Naing Swe Oo, a senior advisory board member of Myanmar Institute of Strategic and International Studies.

    “Through the ambitious carbon neutrality goals, energy structure adjustments and industrial decarbonization efforts, China has made significant progress in the transition to a more sustainable economy,” he said.

    THE GREEN GROWTH

    Bearing fruitful achievements domestically, China has been assisting other countries in achieving green growth and strengthening their adaptation capacity for climate change.

    For years, China has aided the construction of clean energy and environmental protection projects in developing countries.

    For instance, under the China-Ethiopia-Sri Lanka Renewable Energy Technology Transfer Project, 11 green energy solutions have been installed covering 12 small and medium-sized demonstration sites and benefiting more than 50,000 people across five provinces in Sri Lanka and four regions in Ethiopia. They are expected to generate at least 70,000 kWh of energy — saving approximately 157,000 tons of greenhouse gas emissions every year.

    Moreover, clean energy stations with Chinese investments have taken off in both Kazakhstan and Mali. The Zhanatas Wind Farm in Kazakhstan generates 350 million kWh of clean electricity annually, equivalent to saving 109,500 tons of standard coal and cutting carbon emissions by 289,000 tons every year.

    The Gouina Hydropower Station in Mali has transformed West Africa’s energy landscape since its 2022 launch. Generating 687 million kWh annually, the hydropower plant provides enough power for 1 million residents across Mali, Senegal and Mauritania, replacing 240,000 tons of coal and reducing carbon emissions by 630,000 tons yearly.

    Kenya economist James Shikwati noted that China’s experience in green and sustainable development provides valuable inspirations for Kenya and other African countries. “If China can produce more green products within Africa, it would be a significant benefit for the continent,” he said.

    Boasting the world’s largest and most complete new-energy industrial chain, China is home to 70 percent of the photovoltaic components and 60 percent of wind power equipment worldwide. In 2023 alone, the country’s export of wind and photovoltaic products helped reduce carbon emissions by 810 million tons in recipient countries.

    “Solving China’s problems also helps solve problems for many other countries,” said Hoe Ee Khor, chief economist of the ASEAN+3 Macroeconomic Research Office.

    “If a country has effective and low-cost green technologies, is committed to a global ecological civilization, practices free trade, and is willing to share its green technologies, then it can play a key role in shaping a postmodern, ecological global civilization,” said Philip Clayton, president of the U.S. Institute for Ecological Civilization. “China can play and is playing this crucial role.”

    A GREEN FUTURE

    No matter how the international landscape evolves, China’s determination and action for proactive climate response never changes.

    It is one of the initial parties to the UN Framework Convention on Climate Change and among the first signatories and ratifiers of the Paris Agreement on climate change.

    From 2016 to 2023, China supported other developing countries with roughly 24.5 billion U.S. dollars in total climate-related funding.

    Over the years, China has been active in promoting a fair and more equitable global climate governance system. Within the framework of the Belt and Road Initiative (BRI), China has signed a memorandum of understanding (MoU) with the UN Environment Programme on building a green Belt and Road for 2017-2022, launched the Initiative for Belt and Road Partnership on Green Development together with 31 countries, and formed the Belt and Road Initiative International Green Development Coalition with more than 150 partners from more than 40 countries.

    “Through such initiatives as the BRI, China is helping other developing countries deploy green technologies, such as solar farms and wind power infrastructure. This not only promotes China’s influence, but also accelerates the global green transformation,” said Anna Malindog-Uy, vice president of the Asian Century Philippines Strategic Studies Institute, a Manila-based think tank.

    By October 2024, China, an active participant in South-South cooperation, had signed 53 MoUs on South-South cooperation addressing climate change with 42 developing countries, and had implemented nearly 100 projects focused on climate change mitigation and adaptation. Additionally, China had rolled out over 300 capacity-building programs in climate-related fields and provided training opportunities for over 10,000 participants from more than 120 developing countries.

    With climate change and green development listed among its eight key areas, the Global Development Initiative proposed by China has won the support of an increasing number of countries and regions around the world. It has established more than 30 cooperation platforms, with over 1,100 projects launched, covering all 17 of the United Nations’ sustainable development goals.

    “There’s no doubt that China’s commitment to green development has positioned itself as a leader in the global fight against climate change, which is critical to global decarbonization efforts,” said Malindog-Uy. “China’s continued leadership in this field is likely to shape the future of the global energy markets and climate policy.”

    MIL OSI China News

  • MIL-OSI Asia-Pac: President Lai attends ceremony marking 78th anniversary of 228 Incident

    Source: Republic of China Taiwan

    Details
    2024-12-10
    President Lai attends 2024 Asia Democracy and Human Rights Award ceremony
    On the morning of December 10, President Lai Ching-te presented the 2024 Asia Democracy and Human Rights Award to Bangladesh-based human rights organization Odhikar. In his remarks, President Lai recognized Odhikar’s dedication to promoting the human and political rights of the citizens of Bangladesh and courageously forging ahead in the pursuit of democracy and human rights. The president emphasized that defending democracy requires all the strength we can muster. He stated that the government of Taiwan will continue its efforts to strengthen Taiwan’s ability to defend democracy, and deepen partnerships with various countries to make global democracy more resilient. A translation of President Lai’s remarks follows: First, on behalf of the people of Taiwan, I want to offer sincere congratulations to Bangladesh-based human rights organization Odhikar, winner of the 2024 Asia Democracy and Human Rights Award. The Taiwan Foundation for Democracy (TFD) upholds that in Taiwan, human rights are a pillar of the nation. The TFD established the Asia Democracy and Human Rights Award in 2006, and thanks to the leadership of its successive chairmen and presidents, this award has now become one of Asia’s highest honors. And under the leadership of Chairman Han Kuo-yu (韓國瑜), it will continue to strengthen Taiwan’s links with the world. This award recognizes individuals or groups that have promoted democracy and defended human rights in Asia, and also conveys the values that Taiwan upholds. Recipients of this award, just like Odhikar, have fought valiantly for freedom and human rights. Since its founding in 1994, Odhikar has been dedicated to promoting the human and political rights of the citizens of Bangladesh. The organization not only provides oversight and promotes accountability, but also publishes an annual human rights report that exposes neglected human rights abuses, so that unjust practices hidden in darkness can be brought to light. Members of Odhikar’s team have long faced severe difficulties while conducting human rights work, including harassment, imprisonment, and surveillance. Nevertheless, all have maintained an indomitable fighting spirit, courageously forging ahead in the pursuit of democracy and human rights, which is truly admirable. Taiwan, like Bangladesh, has experienced the suppression and coercion of authoritarian rule. But thanks to the dedication of many democracy activists and defenders of human rights, the people of Taiwan now enjoy a free and democratic way of life, and can use their ballots to determine the future of their own country. Taiwan is now a vibrant democratic society on the frontline of the defense of democracy. In recent years, disinformation and cognitive warfare have become challenges for all democracies. Through the Global Cooperation and Training Framework (GCTF), Taiwan has continuously expanded cooperation with various partner countries, exchanging experiences and strategies to counter disinformation. In September this year, for example, a GCTF overseas workshop was held in Lithuania for the first time, exploring how to deal with foreign information manipulation and interference during elections. Looking ahead, the government of Taiwan will continue its efforts to strengthen our ability to defend democracy, and deepen our partnerships with various countries to make global democracy more resilient. I also want to emphasize that defending democracy requires all the strength we can muster. So today, on Human Rights Day, I am honored to congratulate Odhikar in person, and thank you all for sharing your ideas and experiences with Taiwan’s society to forge an even greater force for progress. I look forward to a world with more civil society organizations like Odhikar to strengthen the bulwarks of freedom and human rights, and I firmly believe that into the future, your courageous convictions will be carried forward here in Taiwan. Let’s continue our efforts. Members of the foreign diplomatic corps stationed in Taiwan were also in attendance at the event.

    Details
    2024-05-10
    President Tsai attends 2024 Human Rights Press Awards ceremony
    On the evening of May 10, President Tsai Ing-wen attended the 2024 Human Rights Press Awards ceremony. In her remarks, President Tsai thanked the media for reporting on and bringing awareness to many important human rights issues. The president stated that Taiwan remains committed to advancing human rights. In 2019, she said, Taiwan became the first Asian country to legalize same-sex marriage, and in the following year, we established the National Human Rights Commission to better monitor and secure human rights protections at home. The president also stated that in 2022, Taiwan rolled out our first National Human Rights Action Plan, and in February, the Executive Yuan passed the UN International Convention for the Protection of All Persons from Enforced Disappearance, marking another major milestone for Taiwan’s human rights development, achieved by our people and government working together. President Tsai stated that Taiwan now is rated as one of the freest countries when it comes to press freedom, and is an important hub for international media. This growing presence of international journalists, she said, is evidence that Taiwan is a country where transparency, freedom of expression, and easy access to information are ensured. The president said she is looking forward to Taiwan continuing to be the home for free press in Asia, and that Taiwan will continue to stand up for democracy, freedom, and human rights, and endeavor to build a world where all can live in dignity. A transcript of President Tsai’s remarks follows: It is my pleasure to join you all today at this important awards ceremony to congratulate the recipients of the Human Rights Press Awards. I am also happy about the fact that this event is being held in Taiwan for the very first time.  Your presence here is testament to Taiwan’s hard work on safeguarding media freedom and human rights. This event is also a demonstration to the world just how deeply Taiwan values these important pillars of democracy. I would like to thank the organizers of this event: Human Rights Watch, the Walter Cronkite School of Journalism and Mass Communication at Arizona State University, the foreign correspondents’ clubs of Taiwan and Thailand, and the Reynolds Center for Business Journalism. I applaud you for taking up this important mission of maintaining this award at a time when journalists are under unprecedented pressure and repression in carrying out their duties.  Tonight, I want to congratulate the recipients of the Human Rights Press Awards.  Congratulations to you all, and thank you for reporting on, and bringing awareness to many important human rights issues.  This includes the persecution of religious minorities in Myanmar, the rising number of suicides among Afghan women living under Taliban rule, and the Chinese government’s treatment of White Paper protesters, who stood up against COVID-19 lockdowns.  In an era of rising authoritarianism, with an increasing number of autocratic leaders and disinformation campaigns, your role as journalists in exposing the truth is more critical than ever. And through a variety of forms, such as writing, photography, video, audio, and multimedia, your courage and effort not only inspire us. You also help raise awareness in the international community, and prompt us to take action to tackle these pressing human rights issues. More importantly, by exposing injustices, you give hope to those whose stories that you told.  In Taiwan, we experienced the injustices of authoritarian rule, under nearly four decades of martial law. Some even sacrificed their lives for media freedom. Through our hard work, Taiwan now is rated as one of the freest countries when it comes to press freedom. In Freedom House’s report on Freedom in the World this year, Taiwan scored 94 out of 100. Under the Civil Liberties category, Taiwan received a perfect score for Freedom of Expression and Belief. Our news media is described as “generally free, reflecting a diversity of views and reporting aggressively on government policies.” Of course, in a critical way. According to the Economist Intelligence Unit’s Democracy Index 2023, Taiwan ranked 10th in the world and first in Asia, and was one of only 24 countries in the world evaluated as a “full democracy.” And, in this year’s World Press Freedom Index by Reporters Without Borders, Taiwan ranked 27th in the world, rising eight spots from last year. Despite these achievements, in recent years, there have been authoritarian forces targeting the freedom we have worked so hard to achieve. We found that there are constant attempts from authoritarian forces to influence our media environment. There are also well-funded, large-scale disinformation campaigns making extensive use of internal and external propaganda to influence Taiwan’s democracy. The freedoms enjoyed by Taiwanese citizens on the internet, media, and social media are now being utilized to erode Taiwan’s democracy.  Eleven years in a row, Taiwan has exceeded every other country in the world, on the amount of false information disseminated within its borders by other governments, according to the research by V-Dem. There are several goals of such campaigns. They want to further polarize our society, pitting citizens against one another. They also want to erode trust in democratic institutions and government officials. They aggressively promote the narrative that democracy is chaotic and inefficient. Such disinformation campaigns have become one of the most difficult challenges for democracies like Taiwan. Moreover, the rise of AI has benefited all of us. On the other hand, this rise has also allowed disinformation to be generated and distributed at an unprecedented rate. This makes deterring it much more difficult. This also makes defending our right to know the facts all the more important.  A democracy has limited means to deal with disinformation campaigns. This is out of the concern of causing harm to freedom of speech, if measures are taken to limit, restrict, or control the free flow of information. In Taiwan, in order to counter disinformation campaigns, we encourage all parts of our society to act together. As timeliness and transparency are keys to an effective defense against disinformation, the Taiwanese government holds news briefings and releases real-time official clarifications on a regular basis. Taiwan’s vibrant civil society also contributes quite a lot to combat disinformation. Some publish thoroughly researched and detailed reports on disinformation campaigns. They also identify playbooks on authoritarian information manipulation. This is accompanied by media literacy lesson plans and offering education to citizens. The civil tech community has also developed chatbots for chat applications to make fact-checking much easier.  Other than countering information warfare from authoritarian regimes, Taiwan remains committed to advancing human rights. In 2019, we became the first Asian country to legalize same-sex marriage. The following year, we established the National Human Rights Commission to better monitor and secure human rights protections at home. And in 2022, we rolled out our first National Human Rights Action Plan, with the aim of continually improving human rights standards. Although Taiwan is not a member of the United Nations (UN), we have voluntarily incorporated six international covenants on human rights into domestic law, and issued national reports on their implementation.  In February, the Executive Yuan passed the UN International Convention for the Protection of All Persons from Enforced Disappearance. This marked another major milestone for Taiwan’s human rights development, achieved by our people and government working together. As the result of our work on safeguarding freedom, Taiwan is now an important hub for international media. In recent years, we have received increasing numbers of resident correspondents and visiting journalists from international media agencies. As of last month, Taiwan is home to 176 correspondents from 86 media outlets originating in 22 countries – this is roughly double the figure from 2016. This growing presence of international journalists is evidence that Taiwan is a country where transparency, freedom of expression, and easy access to information are ensured. I am proud and looking forward to Taiwan continuing to be the home for free press in Asia. Despite the new and growing challenges in the region, Taiwan will continue to stand up for democracy, freedom, and human rights. Now more than ever, it is essential that we unite and support one another, as we address these challenges together and endeavor to build a world where all can live in dignity. I want to close by thanking you all again for joining me to honor the recipients of the Human Rights Press Awards. At a time when many journalists in Asia and from around the world must put their safety at risk for doing their job, you have our utmost respect for your professionalism and courage. Once again, congratulations to all the award-winners. Also in attendance at the event were European Economic and Trade Office Head Filip Grzegorzewski and British Office Taipei Representative John Dennis.

    Details
    2024-04-17
    President Tsai delivers remarks at International Holocaust Remembrance Day event
    On the afternoon of April 17, President Tsai Ing-wen attended an International Holocaust Remembrance Day event and delivered remarks, in which she said that unity is imperative in combating hatred and developing understanding. The president stated that as we are confronted with the growing threats of terrorism and authoritarianism, Taiwan has been taking initiatives, through collaboration with our international partners, to enhance regional religious freedom, to fight against discrimination, and to promote equality. She stated that Taiwan will continue to be a strong advocate for human rights and democracy, so we can leave the world a better place for future generations. Upon arrival, President Tsai took in a musical performance and watched as a rabbi recited a prayer before joining other distinguished guests to light candles in memory of the Holocaust’s victims. A transcript of President Tsai’s remarks follows: I would like to begin by thanking the Israel Economic and Cultural Office (ISECO) in Taipei, the German Institute Taipei, the Ministry of Foreign Affairs, and the Taiwan Foundation for Democracy for co-organizing this important event. I also want to thank you all for making time to come here today to remember those who lost their lives in the Holocaust. We are also here to pay tribute to those who survived, and to acknowledge the sufferings of all who were affected by this dark chapter of human history.  I also want to take a moment to acknowledge Mr. Peter Gaspar, who is joining us virtually today. I am grateful for his participation in this year’s event and for sharing his harrowing experience with all of us. Every year, we come here together to remember those who perished in the Holocaust, as well as those who endured unimaginable sufferings because of this tragedy. We must pledge to never forget this period in history, when human dignity was cast aside for political ideology. We should also never stop fighting against discrimination and bigotry. We must also be reminded that there are still countless people who continue to suffer at the hands of authoritarian regimes and dictatorships, just because they are of different ethnic origin, gender, sexual orientation, religion, or political ideology. In other words, there is still much work needed to be done. In the pursuit of justice and truth, we can learn from Israel and Germany – Israel in its efforts to preserve the historical accounts of the Holocaust, especially its victims, and Germany in its courage to face the past.  In Taiwan, we have been working to ensure that we address the injustices of the past and uncover the truth of atrocities in the authoritarian era. In addition to the annual commemoration of the 228 Incident, my government has built a solid foundation for the realization of transitional justice. We elevated transitional justice as a priority at the highest government level. The Executive Yuan established government bodies to further emphasize the values of transitional justice in policy implementation. The newly amended Political Archives Act came into effect this year, on the 77th anniversary of the 228 Incident. This is an important element in my government’s effort to restore truth in the pursuit of transitional justice. We hope this will further help bring some closure and comfort to the victims of the White Terror era and their families. Even though we have come quite a long way on upholding human rights and fighting against bigotry, the world must continue to confront antisemitism and authoritarian aggression. We are also seeing the horrifying effects of such aggressions in Ukraine and in Hamas’ terroristic attack on Israel. This is why we stress the importance of working alongside the international community to safeguard what we fought so hard to achieve, that is, democracy, freedom, equality, and peace. As part of our collaborative efforts, starting from 2021, the Israel office here, our Ministry of Education’s human rights resource center, and Yad Vashem, Israel’s World Holocaust Remembrance Center, co-organized workshops and held traveling exhibitions to raise awareness on the history of the Holocaust. We also continue to donate to Yad Ezer Lechaver, an NGO that works with our representative office in Tel Aviv, to help provide daily necessities to Holocaust survivors. Through collaboration with our international partners, Taiwan has been proactively taking initiatives to enhance regional religious freedom, to fight against discrimination, and to promote equality. Taiwan will continue to be a strong advocate for human rights and democracy. History has taught us time and again that unity is imperative in combating hatred and developing understanding. As we are confronted with the growing threats of terrorism and authoritarianism, it is even more important that we work together, so we can leave the world a better place for future generations. We owe it to the memory of those who lost their precious lives to a tragedy like the Holocaust and those who sacrificed themselves to protect the value of democracy. We should also remind ourselves to remain vigilant, while we reaffirm our vow to not let this tragedy happen again. In closing, I want to thank everyone for taking part in this meaningful event, and for keeping the names and stories of the victims of the Holocaust living in our memory. Also in attendance at the event were Chair of the Knesset Taiwan friendship group Boaz Toporovsky, ISECO Representative Maya Yaron, and German Institute Taipei Director General Jörg Polster.

    Details
    2024-02-28
    President Tsai attends ceremony marking 77th anniversary of 228 Incident
    On the morning of February 28, in Chiayi County, President Tsai Ing-wen attended the nation’s main memorial ceremony marking the 77th anniversary of the 228 Incident. The president offered a floral wreath in memory of the victims, and stated that over the past eight years the government has worked systematically to advance work in transitional justice, pointing out that it has completed four fact-finding investigation reports to restore historical truths and has helped victims to restore their reputations and receive compensation. She said that nearly 2,000 applications for compensation have been accepted for processing, and the government has already paid out a total of more than NT$4 billion in compensation. The government’s effort last year to pass an amendment to the Political Archives Act saw support from both the ruling and opposition parties, she said, and that amendment enters into force today. The president emphasized that transitional justice is not intended to be directed at any particular political party. Rather, she said, it is that the government in a democratic system must take responsibility for illegal acts committed by the state during an earlier period of authoritarian rule and make amends for past harms. She said that honestly facing up to our history is the only way Taiwan’s democratic institutions can become more deeply rooted and continue to evolve. Emphasizing that there is no shortcut to transitional justice, and that scars in the memory do not easily fade, the president said that our generation must take concrete action to find ways to peacefully coexist with history and build an even more open society. She said that to face the past, we must not forget the past, much less fear to remember it; and to face the future, we must continue to deepen our discussions as we pursue a more democratic, sustainable social community. A translation of the president’s remarks follows: The February 28 Incident filled the people of Taiwan with a desire for democracy and freedom, but authoritarianism and heavy-handed rule stymied the seeds of democracy and ushered in the White Terror era. This difficult period of the past left a scar on Taiwan’s history. To help this scar to heal, we must first understand the nature of the wound. Until we honestly face facts and listen to one other, we cannot close our wounds and reach the genuine reconciliation that ends our history being a cause of division in Taiwan. Once we do this, the people of Taiwan will be better able to join together in defense of democracy and move forward together. Over the past eight years, we have worked systematically to advance work in transitional justice. In the area of legislative action, we began with reinforcing the foundation for transitional justice by amending the Act Governing the Settlement of Ill-gotten Properties by Political Parties and Their Affiliate Organizations, the Act on Promoting Transitional Justice, the Organizational Act of the National Human Rights Museum, the Political Archives Act, and the Act to Restore Victim’s Rights Infringed by Illegal Acts of the State During the Period of Authoritarian Rule. We have also established specialized organizations and mechanisms that form the engine moving our transitional justice project forward. Now that the Transitional Justice Commission has completed its mission, the Executive Yuan is coordinating the efforts of six central government agencies that have taken over the task of implementing transitional justice work. Building on this foundation, our government has completed four fact-finding investigation reports to restore historical truths, and we have amended legislation to improve the handling of political archives and ill-gotten assets in the possession of political parties. From the ill-gotten party assets that have been appropriated by the state, a special fund has been established to support public welfare and transitional justice-related work. We have also helped victims restore their reputations and receive compensation. Nearly 2,000 applications for compensation have been accepted for processing by the Restoration of Victim’s Rights Infringed by Illegal Acts of the State During the Period of Authoritarian Rule Foundation since it was established over a year ago. Last year, for the first time ever, our government returned property to a victim from whom it had been illegally confiscated by the state during the period of authoritarian rule. In total, the government has already paid out more than NT$4 billion in compensation. Transitional justice is not intended to be directed at any particular political party. Rather, it is that the government in a democratic system must take responsibility for illegal acts committed by the state during an earlier period of authoritarian rule and make amends for past harms. Honestly facing up to our history is the only way Taiwan’s democratic institutions can become more deeply rooted and continue to evolve. After years of hard work, the 228 Memorial Foundation has identified 2,340 victims of the 228 Incident, and has additionally identified more than 4,000 possible victims. In a short while, acting on behalf of the government, I will be awarding “certificates of restored reputation” to the family members of several victims of the 228 Incident. Two of these individuals had originally been classified as “possible victims,” but after historical archives were made available for public access it was confirmed that they had indeed been victims. Our experience in this case showed us that there remain more historical truths for the government to help bring to light. This is why the government saw support from both the ruling and opposition parties last year when it worked to pass an amendment to the Political Archives Act. That amendment did pass, and it enters into force today. Political archives provide many important pieces in the puzzle of our historical past, so I would like to ask our national security officials to adopt an open-minded attitude. I would like for them to declassify more political archives and make them publicly accessible to the greatest possible extent. Our transitional justice work encompasses truth, justice, reparation, memorialization, and, most importantly, guarantees of non-recurrence. These are the five internationally recognized pillars of transitional justice. We have also seen different sectors of Taiwanese society contribute to transitional justice, each in its own way. In Search of a Mixed Identity, a film about a victim of the 228 Incident, will premiere next month, and the Gongsheng Music Festival, which is held annually to commemorate the incident, marked its 12th year in 2024. I want to thank the many civil society organizations and young people who have worked so long and hard to further the cause of transitional justice. You have given of yourselves for the nation, providing fresh tinder to keep the torch of democracy alight and keep it glowing ever stronger. I must also thank the Executive Yuan, the Transitional Justice Commission, the Ill-Gotten Party Assets Settlement Committee, and the various central government agencies and civil society organizations that have accompanied us on this undertaking every step of the way. Together we have worked on behalf of those who suffered the indignities of the 228 Incident and the White Terror era so that they can put the darkness behind them. But I know full well that our efforts pale in comparison to what the victims and their family members have been through. There is no shortcut to transitional justice, and scars in the memory do not easily fade. Our generation must take concrete action to find ways to peacefully coexist with history and build an even more open society.  I have spoken with the Executive Yuan about the three points that Chiang Jung-sen (江榮森) just raised. As a matter of fact, these three points are related to issues the Executive Yuan is actively addressing right now, and I am confident that the Executive Yuan will come forward with public statements at the proper times. These matters are all part of the government’s work, and we will continue doing our best to address them. To face the past, we must not forget the past, much less fear to remember it. To face the future, we must continue to deepen our discussions as we pursue a more democratic, sustainable social community.

    Details
    2023-12-07
    President Tsai attends 2023 Asia Democracy and Human Rights Award ceremony
    On the morning of December 7, President Tsai Ing-wen presented the 2023 Asia Democracy and Human Rights Award to Amihan Abueva, regional executive director of the Child Rights Coalition Asia (CRC Asia). In remarks, President Tsai recognized Ms. Abueva’s long-term contributions to advocacy for the rights of children in her battle against all forms of child violence. The president pointed out that Taiwan has endeavored for nearly a decade now to incorporate international standards for the rights of the child into domestic law to ensure more protections for children’s rights. The president said that Taiwan will remain vigilant to protect our hard-earned democracy, freedom, and human rights, and by doing so, help further entrench the rights of the child here and globally. A transcript of President Tsai’s remarks follows: Today, I would like to begin by congratulating Ms. Amihan Abueva on receiving this year’s Asia Democracy and Human Rights Award, established by the Taiwan Foundation for Democracy. Ms. Abueva has been a powerful advocate for the rights of children in her decades-long battle against all forms of child violence, especially trafficking and sexual exploitation. Throughout her career, she has epitomized selflessness and courage, tirelessly fighting to secure a safer world for our children and our future. Whether in her former roles as executive secretary and president of ECPAT International [End Child Prostitution, Child Pornography and Trafficking of Children for Sexual Purposes], or in her current position as the regional executive director of the Child Rights Coalition of Asia, Ms. Abueva has pushed for more child participation, in society and in policy-making for child welfare. She has also contributed to the strengthening of the relevant legal framework at the national and international levels. As she once said, “Children’s rights are everybody’s business.” Ms. Abueva has also played an important role in government efforts by serving as Philippine representative to the ASEAN Commission on the Rights of Women and Children. And her leadership today at CRC Asia has helped connect child rights organizations throughout Asia, including our own Child Welfare League Foundation in Taiwan. The network she built has brought the public sector and private society together to work toward the improvement of children’s rights. While advocating her cause, Ms. Abueva has also devoted herself to awareness raising, through speeches and reading materials, helping both adults and children see the warning signs so that they can prevent trafficking from taking place. Throughout her storied career, her mission has remained the same: to protect children, their rights, and their future, by giving them a voice and making sure their stories are heard. Taiwan also strives to do its part to protect our children and their rights. As with most rights advocacy, we owe our thanks to our civil society in spearheading grassroots efforts and working in coordination with the government. And a crucial part of that is making sure we have sound legislation. For nearly a decade now, we have endeavored to incorporate international standards for the rights of the child into domestic law. In 2014 we passed legislation to bring the principles of the 1989 United Nations Convention on the Rights of the Child (UNCRC), the most ratified human rights treaty in history, into our own legal framework. And to bring Taiwan more in compliance with the UNCRC, we hold discussions and reviews on our implementation efforts, which help us formulate future policy and further protect the rights of children. To date, we have submitted two national reports, each followed by a review meeting. To these, we invite international experts to discuss the state of children’s rights in Taiwan with our government agencies and NGOs. Most importantly, and as Ms. Abueva has long championed, children and the youth are represented in these meetings to ensure that they have a voice in the protection of their own rights. Aside from overarching legislation, we want to ensure that children’s rights are covered by relevant laws. Under these laws, Taiwan has not only addressed traditional forms of violence done to children, in both home and school environments; we have also taken a forward-looking approach to prevent novel forms of child violence. With the addition to our Criminal Code of a chapter on offense against sexual privacy this year, we aim to protect the sexual privacy of every individual in the digital age. And this is particularly beneficial for children and young people, a large and vulnerable demographic of Internet users. As proclaimed in the UNCRC, children are entitled to the very rights set forth in the Universal Declaration of Human Rights. With this in mind, Taiwan will remain vigilant to protect our hard-earned democracy, freedom, and human rights, and by doing so, help further entrench the rights of the child here and globally. Once again, I extend my sincere congratulations to Ms. Abueva, and thank her for her selfless efforts. With the inspiration of such outstanding advocates as Ms. Abueva, I look forward to more people joining forces in the fight to protect the rights of the most vulnerable. Members of the foreign diplomatic corps in Taiwan were also in attendance at the event.

    Details
    2025-02-14
    President Lai holds press conference following high-level national security meeting
    On the morning of February 14, President Lai Ching-te convened the first high-level national security meeting of the year, following which he held a press conference. In remarks, President Lai announced that in this new year, the government will prioritize special budget allocations to ensure that Taiwan’s defense budget exceeds 3 percent of GDP. He stated that the government will also continue to reform national defense, reform our legal framework for national security, and advance our economic and trade strategy of being rooted in Taiwan while expanding globally. The president also proposed clear-cut national strategies for Taiwan-US relations, semiconductor industry development, and cross-strait relations. President Lai indicated that he instructed the national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches outlined. He also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. He expressed hope that as long as citizens remain steadfast in their convictions, are willing to work hand in hand, stand firm amidst uncertainty, and look for ways to win within changing circumstances, Taiwan is certain to prevail in the test of time yet again. A translation of President Lai’s remarks follows: First, I would like to convey my condolences for the tragic incident which occurred at the Shin Kong Mitsukoshi department store in Taichung, which resulted in numerous casualties. I have instructed Premier Cho Jung-tai (卓榮泰) to lead the relevant central government agencies in assisting Taichung’s municipal government with actively resolving various issues regarding the incident. It is my hope that these issues can be resolved efficiently. Earlier today, I convened this year’s first high-level national security meeting. I will now report on the discussions from the meeting to all citizens. 2025 is a year full of challenges, but also a year full of hope. In today’s global landscape, the democratic world faces common threats posed by the convergence of authoritarian regimes, while dumping and unfair competition from China undermine the global economic order. A new United States administration was formed at the beginning of the year, adopting all-new strategies and policies to address challenges both domestic and from overseas. Every nation worldwide, including ours, is facing a new phase of changes and challenges. In face of such changes, ensuring national security, ensuring Taiwan’s indispensability in global supply chains, and ensuring that our nation continues to make progress amidst challenges are our top priorities this year. They are also why we convened a high-level national security meeting today. At the meeting, the national security team, the administrative team led by Premier Cho, and I held an in-depth discussion based on the overall state of affairs at home and abroad and the strategies the teams had prepared in response. We summed up the following points as an overall strategy for the next stage of advancing national security and development. First, for overall national security, so that we can ensure the freedom, democracy, and human rights of the Taiwanese people, as well as the progress and development of the nation as we face various threats from authoritarian regimes, Taiwan must resolutely safeguard national sovereignty, strengthen self-sufficiency in national defense, and consolidate national defense. Taiwan must enhance economic resilience, maintain economic autonomy, and stand firm with other democracies as we deepen our strategic partnerships with like-minded countries. As I have said, “As authoritarianism consolidates, democratic nations must come closer in solidarity!” And so, in this new year, we will focus on the following three priorities: First, to demonstrate our resolve for national defense, we will continue to reform national defense, implement whole-of-society defense resilience, and prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP. Second, to counter the threats to our national security from China’s united front tactics, attempts at infiltration, and cognitive warfare, we will continue with the reform of our legal framework for national security and expand the national security framework to boost societal resilience and foster unity within. Third, to seize opportunities in the restructuring of global supply chains and realignment of the economic order, we will continue advancing our economic and trade strategy of being rooted in Taiwan while expanding globally, strengthening protections for high-tech, and collaborating with our friends and allies to build supply chains for global democracies. Everyone shares concern regarding Taiwan-US relations, semiconductor industry development, and cross-strait relations. For these issues, I am proposing clear-cut national strategies. First, I will touch on Taiwan-US relations. Taiwan and the US have shared ideals and values, and are staunch partners within the democratic, free community. We are very grateful to President Donald Trump’s administration for their continued support for Taiwan after taking office. We are especially grateful for the US and Japan’s joint leaders’ statement reiterating “the importance of maintaining peace and stability across the Taiwan Strait as an indispensable element of security and prosperity for the international community,” as well as their high level of concern regarding China’s threat to regional security. In fact, the Democratic Progressive Party government has worked very closely with President Trump ever since his first term in office, and has remained an international partner. The procurement of numerous key advanced arms, freedom of navigation critical for security and stability in the Taiwan Strait, and many assisted breakthroughs in international diplomacy were made possible during this time. Positioned in the first island chain and on the democratic world’s frontline countering authoritarianism, Taiwan is willing and will continue to work with the US at all levels as we pursue regional stability and prosperity, helping realize our vision of a free and open Indo-Pacific. Although changes in policy may occur these next few years, the mutual trust and close cooperation between Taiwan and Washington will steadfastly endure. On that, our citizens can rest assured. In accordance with the Taiwan Relations Act and the Six Assurances, the US announced a total of 48 military sales to Taiwan over the past eight years amounting to US$26.265 billion. During President Trump’s first term, 22 sales were announced totaling US$18.763 billion. This greatly supported Taiwan’s defensive capabilities. On the foundation of our close cooperation with the past eight years’ two US administrations, Taiwan will continue to demonstrate our determination for self-defense, accelerate the bolstering of our national defense, and keep enhancing the depth and breadth of Taiwan-US security cooperation, along with all manner of institutional cooperation. In terms of bilateral economic cooperation, Taiwan has always been one of the US’s most reliable trade partners, as well as one of the most important cooperative partners of US companies in the global semiconductor industry. In the past few years, Taiwan has greatly increased both direct and indirect investment in the US. By 2024, investment surpassed US$100 billion, creating nearly 400,000 job opportunities. In 2023 and 2024, investment in the US accounted for over 40 percent of Taiwan’s overall foreign investment, far surpassing our investment in China. In fact, in 2023 and 2024, Taiwanese investment in China fell to 11 percent and 8 percent, respectively. The US is now Taiwan’s biggest investment target. Our government is now launching relevant plans in accordance with national development needs and the need to establish secure supply systems, and the Executive Yuan is taking comprehensive inventory of opportunities for Taiwan-US economic and trade cooperation. Moving forward, close bilateral cooperation will allow us to expand US investment and procurement, facilitating balanced trade. Our government will also strengthen guidance and support for Taiwanese enterprises on increasing US investment, and promote the global expansion and growth of Taiwan’s industries. We will also boost Taiwan-US cooperation in tech development and manufacturing for AI and advanced semiconductors, and work together to maintain order in the semiconductor market, shaping a new era for our strategic economic partnership. Second, the development of our semiconductor industry. I want to emphasize that Taiwan, as one of the world’s most capable semiconductor manufacturing nations, is both willing and able to address new situations. With respect to President Trump’s concerns about our semiconductor industry, the government will act prudently, strengthen communications between Taiwan and the US, and promote greater mutual understanding. We will pay attention to the challenges arising from the situation and assist businesses in navigating them. In addition, we will introduce an initiative on semiconductor supply chain partnerships for global democracies. We are willing to collaborate with the US and our other democratic partners to develop more resilient and diversified semiconductor supply chains. Leveraging our strengths in cutting-edge semiconductors, we will form a global alliance for the AI chip industry and establish democratic supply chains for industries connected to high-end chips. Through international cooperation, we will open up an entirely new era of growth in the semiconductor industry. As we face the various new policies of the Trump administration, we will continue to uphold a spirit of mutual benefit, and we will continue to communicate and negotiate closely with the US government. This will help the new administration’s team to better understand how Taiwan is an indispensable partner in the process of rebuilding American manufacturing and consolidating its leadership in high-tech, and that Taiwan-US cooperation will benefit us both. Third, cross-strait relations. Regarding the regional and cross-strait situation, Taiwan-US relations, US-China relations, and interactions among Taiwan, the US, and China are a focus of global attention. As a member of the international democratic community and a responsible member of the region, Taiwan hopes to see Taiwan-US relations continue to strengthen and, alongside US-China relations, form a virtuous cycle rather than a zero-sum game where one side’s gain is another side’s loss. In facing China, Taiwan will always be a responsible actor. We will neither yield nor provoke. We will remain resilient and composed, maintaining our consistent position on cross-strait relations: Our determination to safeguard our national sovereignty and protect our free and democratic way of life remains unchanged. Our efforts to maintain peace and stability in the Taiwan Strait, as well as our willingness to work alongside China in the pursuit of peace and mutual prosperity across the strait, remain unchanged. Our commitment to promoting healthy and orderly exchanges across the strait, choosing dialogue over confrontation, and advancing well-being for the peoples on both sides of the strait, under the principles of parity and dignity, remains unchanged. Regarding the matters I reported to the public today, I have instructed our national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches I just outlined. I have also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. My fellow citizens, over the past several years, Taiwan has weathered a global pandemic and faced global challenges, both political and economic, arising from the US-China trade war and Russia’s invasion of Ukraine. Through it all, Taiwan has persevered; we have continued to develop our economy, bolster our national strength, and raise our international profile while garnering more support – all unprecedented achievements. This is all because Taiwan’s fate has never been decided by the external environment, but by the unity of the Taiwanese people and the resolve to never give up. A one-of-a-kind global situation is creating new strategic opportunities for our one-of-a-kind Taiwanese people, bringing new hope. Taiwan’s foundation is solid; its strength is great. So as long as everyone remains steadfast in their convictions, is willing to work hand in hand, stands firm amidst uncertainty, and looks for ways to win within changing circumstances, Taiwan is certain to prevail in the test of our time yet again, for I am confident that there are no difficulties that Taiwan cannot overcome. Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI China: Greenvolt, BYD to develop Poland’s energy storage projects

    Source: China State Council Information Office

    A contract for the design and operation of two large-scale energy storage projects in Poland has been signed between Greenvolt Power, a subsidiary of Portugal’s Greenvolt Group, and Chinese firm BYD Energy Storage.

    The first phase of the projects, which have a total capacity of 1.6 GWh, is already underway, with substation infrastructure under construction. The two storage facilities, located in Turosn Koscielna and Nowa Wies Elcka, are expected to be operational in 2028.

    Greenvolt Group Joao Manso Neto emphasized the significance of the partnership. “Energy storage is key to maximizing the integration of renewable energy. This agreement highlights the importance of this technology and reaffirms our ambition to remain a leading player in the energy storage sector.”

    Greenvolt Group has been active in Poland for nearly 18 years, developing wind, solar, and energy storage projects through Greenvolt Power. BYD Energy Storage is one of China’s leading battery energy storage system providers.

    The collaboration also underscores BYD’s expanding presence in the European market. The projects are expected to play a crucial role in enhancing Poland’s renewable energy integration and grid stability. 

    MIL OSI China News

  • MIL-OSI China: China discovers 180 M tonne shale oil reserves

    Source: China State Council Information Office

    Sinopec, China’s largest oil refiner, on Monday announced the discovery of two major shale oilfields in the east of the country with combined proven reserves of 180 million tonnes.

    The confirmation of the Xinxing and Qintong oilfields, which was approved by China’s Ministry of Natural Resources, is a strategic move to exploit and identify shale oil reserves in the country’s continental rift basins.

    Shale oil mainly refers to liquid hydrocarbons trapped in formations of shale rock that can be extracted for refining. It is often found in organic-rich shale and thin interlayers of carbonate rock, sandstone and siltstone.

    The assessment is the first time to use China’s independently developed industry standards for the estimation of shale oil and continental shale oil system data, providing experience for the improvement of technical specifications and the reserve evaluation of shale oil in the future, said Li Jinggong, head of the ministry’s oil reserves assessment team.

    The two oilfields show promise for high initial yields due to favorable fracturability and formation pressure, with test results indicating the likelihood of stable outputs over extended periods.

    Sinopec is aiming to see an annual shale oil output of 2 million tonnes by the end of the 15th Five-Year Plan period (2026-2030), with an annual increase in proven reserves exceeding 100 million tonnes during the period.

    The recoverable shale oil reserves in China, one of the world’s major crude oil consumers, ranks third globally. Data from China’s National Energy Administration shows that the country’s crude oil production was 213 million tonnes in 2024, while its shale oil output surged to 6 million tonnes, a year-on-year increase of over 30 percent. 

    MIL OSI China News

  • MIL-OSI USA: Shaheen Hosts Roundtable with New Hampshire Farmers, Highlights Harmful Impact of Trump Administration’s Federal Funding Chaos

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Londonderry, NH) – Today, U.S. Senator Jeanne Shaheen (D-NH), Ranking Member of the U.S. Senate Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration and Related Agencies, hosted a roundtable discussion with New Hampshire farmers and agricultural producers on the impacts and uncertainty farms are experiencing as a result of President Trump’s decision to halt tens of billions of dollars of federal funding for the U.S. Department of Agriculture. The discussion follows the recent announcement that Shaheen is now the top Democrat on the U.S. Senate Appropriations Subcommittee with jurisdiction over the U.S. Department of Agriculture. You can view photos from the event here.  
    “I heard from many farmers today that are waiting on federal government reimbursement from contracts they’ve signed and completed or that have contracts stuck in limbo because they don’t know whether the federal funding they’ve been awarded will actually come through,” said Senator Shaheen. “Some of these farms are already struggling due to several years of extreme weather, and if they can’t access the funding they’ve been promised, farms will continue to suffer and the local food supply could be impacted. Congress approved this funding and now the Trump Administration must make good on these overdue payments.” 
    The discussion follows a series of roundtables and discussions with Granite Staters hosted by Shaheen to better understand and highlight the direct consequences of the Trump administration’s funding chaos and uncertainty. Following the Trump administration’s decision to freeze grants and loans disbursed by the federal government in January, Shaheen immediately condemned the move and spoke on the Senate floor against the decision to freeze federal grants and loans that families, seniors and small businesses rely on for critical, often life-saving services. 
    Shaheen has long fought to support farmers in New Hampshire, including by successfully helping to secure disaster supplemental funding for farmers impacted by crop losses in 2023. Shaheen also has a strong record of working to improve crop insurance policies to support farmers in New Hampshire and leads legislation to reform the federal government’s crop insurance program. Senator Shaheen has supported more than 230 New Hampshire small businesses who have received over $25 million to lower energy bills and cut costs through USDA’s Rural Energy for America Program. She has consistently fought for increased funding and improved support for rural development programs, including rural water programs. 

    MIL OSI USA News

  • MIL-OSI USA: SCHUMER TO BRING CENTRAL NY USDA WORKER – FIRED BY DOGE AFTER YEARS OF SERVICE – WHO HELPED FARMERS & RURAL BUSINESSES ACROSS UPSTATE NY AS HIS PERSONAL GUEST TO PRESIDENT TRUMP’S JOINT ADDRESS TO…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer
    Tiffany Ramos, A Rome, NY Native & SUNY Morrisville Graduate, Worked At The USDA Since 2021, Helping Farms, Businesses & Residents Of Rural Communities Across Upstate, Until She Was Unfairly Fired As “Probationary” Amid Blind Rash Of DOGE Cuts
    Senator Says Callously Firing Dutiful Public Servants Like Tiffany And Slashing USDA Programs That Farmers & Rural Areas Depend On Does Nothing To Stop Government Waste, And Shows Why Efficiency Demands A Scalpel, Not A Chainsaw
    Schumer: We Should Not Be Firing The Upstate NY-er’s Who Help Our Farmers & Rural Businesses Grow
    Amid mass firings and funding freezes at the United States Department of Agriculture (USDA) because of DOGE, hurting farms, businesses, and residents of rural communities in Upstate NY and across all corners of NY, U.S. Senate Democratic Leader Chuck Schumer today announced he will bring former Syracuse USDA employee, Tiffany Ramos, as his personal guest to attend President Trump’s Joint Session of Congress. Tiffany was fired earlier this month from the USDA’s Rural Development (RD) office where she worked helping farmers, businesses, and rural communities across Upstate NY get the financial assistance they needed, despite her years of service and critical work helping rural New Yorkers.
    “Our farms and rural businesses are the lifeblood of Upstate NY, and the backbone of America. For nearly half a decade, Tiffany Ramos brought passion and commitment to her work at the USDA’s offices in Central New York and the Mohawk Valley, helping rural communities across Upstate New York.  Support for our farmers, support for rural businesses, and jobs like Tiffany’s that help rural areas thrive are not government waste,” said U.S. Senator Charles E. Schumer. “Tiffany embodies the devotion and determination that makes America’s public servants the best in the world. I am all for cutting out inefficiency, but you use a scalpel, not a chainsaw. You don’t rip resources away from our farmers and rural businesses that are already struggling. I am proud to bring Central New York’s own Tiffany Ramos as my guest to President Trump’s Joint Session of Congress and will be fighting to reverse cuts like these that hurt Upstate NY’s farms and rural businesses.”
    “My colleagues and I at the USDA proudly serve the farmers and businesses in our rural communities, living alongside them, understanding their needs, and fighting for their interests. The mass terminations at USDA is not just about me losing my job, it’s the dangerous message we’re sending to rural America. We’re telling farmers, small business owners, healthcare providers and residents of rural communities that they don’t matter enough for our federal government to support the staff needed to help them succeed,” said former USDA employee Tiffany Ramos. “The extraordinary members of the federal civil service I have had the pleasure of working with are not the enemy and are not sitting behind computers doing nothing, rather we are hard at work out in our communities every single day.”
    Tiffany Ramos is a former Farm Service Agency (FSA) Program Technician and RD Business Program Technician based at the USDA’s offices in Oneida and Onondaga Counties. Originally from Rome, NY Tiffany graduated from SUNY Morrisville with an Associate’s Degree in Equine Science & Farm Management in 2009 and a Bachelor’s Degree in Agriculture Business Development in 2021.
    Tiffany started her career at the USDA in 2021 as an FSA Programs Technician. Over her years of work at FSA, Tiffany served as Oneida County’s primary technical contact on Farm Storage Facility loans, Marketing Assistance loans, conservation programs, and more. In 2024, Tiffany voluntarily transferred to USDA RD’s office in Syracuse to fill a Business Program Technician position that had been open for years. During her time at RD, Tiffany took on a statewide portfolio overseeing various loan, loan guarantee, and grant programs to help provide financial support to farms and rural businesses. 
    Tiffany was not on the initial list of probationary employees provided to the USDA after President Trump took office, but after her recent transfer Tiffany specifically reached out to OPM to double check her status. On Wednesday, February 12, 2025, OPM informed Tiffany that her years of service at FSA would be counted towards her retirement and leave. Nonetheless, Tiffany was blindsided by an email the very next day with news of her immediate termination. Since then, Tiffany has not received any update on the termination procedure or next steps, leaving her unclear on the status of healthcare insurance and making it difficult to file for unemployment benefits.
    Tiffany’s termination letter claimed that her continued employment was not “in the public interest” despite all of Tiffany’s performance evaluations rating her as “Fully Successful” and zero documentation of poor performance or unsatisfactory work. Schumer said this is a prime example of blind and misguided ‘DOGE’ layoffs hurting American farmers, businesses and residents in our rural communities while creating chaos in every corner of New York State and all across the country.
    President Trump has fired federal workers across Upstate New York, including at the USDA’s Syracuse office where workers like Tiffany help farmers and rural businesses. In January, President Trump froze all federal payments including at the USDA, creating ongoing chaos for farmers and rural communities in Upstate New York. Farmers across the country are still reporting missing payments that they depend on to continue operations. Schumer explained that laying off workers like Tiffany is only hurting farmers, businesses, and rural communities more by cutting off resources they need and limiting staff who can help them.
    President Trump’s layoffs have hurt programs across the USDA, which in tandem with chaos from executive orders, the funding freeze, and slashing of other critical programs like USAID that support farmers, are causing serious financial hardship and worry for agriculture across America. Experts say these massive layoffs at the USDA, which range from those who help rural businesses to top agricultural scientists, could have severe and long lasting impacts for farms and America’s food supply chain. Schumer said DOGE’s approach of fire first and ask questions later cannot continue. As one significant example, last month, DOGE carelessly fired approximately 25% of the employees working on combatting bird flu at the USDA, and now struggling to rehire them, and undermining a response to reduce the crushing prices of eggs Americans are facing.
    Farmers in Upstate NY have reported missing or delayed payments from dozens of programs. One example are programs in the Inflation Reduction Act (IRA) that Senator Schumer led to passage in the Senate, which boosted funding for the USDA RD’s Rural Energy for America Program (REAP), which provides loans and grants to help farmers improve their infrastructure, expand economic opportunities, create jobs and improve the quality of life for millions of Americans in rural areas. The USDA has made billions of dollars available through REAP, but due to Trump’s federal funding fiasco ‘DOGE’ is reviewing millions in REAP payments, and farmers are missing REAP payments they rely on.  Schumer said we cannot continue cutting off resources for farms and rural America and is fighting to reverse these harmful cuts at the USDA.

    MIL OSI USA News

  • MIL-OSI USA: Vaporizer Recall: Getinge Removes Vaporizer Sevoflurane Quick-Fil and Expands Recall of Vaporizer Sevoflurane Maquet Filling due to Risk of Patient and Health Care Professional Exposure to Toxic Chemical Hydrogen Fluoride

    Source: US Department of Health and Human Services – 3

    This recall involves removing certain devices from where they are used or sold. The FDA has identified this recall as the most serious type. This device may cause serious injury or death if you continue to use it.
    This is an expansion of the 2024 Class I Recall: Getinge Recalls Vaporizer Sevoflurane Maquet Filling for Risk of Patient and Health Care Professional Exposure to Toxic Chemical Hydrogen Fluoride 
    Affected Product 

    Product Names: Vaporizer Sevoflurane Maquet Filling, Vaporizer Sevoflurane, Quick-Fil 
    Unique Device Identifier (UDI)/Model:

    Maquet Filling: 07325710000212/6682282*
    Quick-Fil: 07325710001141/6682285 

    Serial Numbers: 

    Maquet Filling: 17336 – 23784* and all serial numbers greater than 1339
    Quick-Fil: All serial numbers greater than 3761

    *These devices were included in the original recall.
    What to Do  

    Do not use any affected vaporizer if it may have ever been used with Sevoflurane Piramal or Baxter Sevoflurane. 
    Do not leave sevoflurane in any Getinge vaporizer for longer than 30 days or during external transportation.
    Make sure any Getinge vaporizer containing sevoflurane has been used within the last 30 days. 
    Do not empty any vaporizer with signs of discoloration or corrosion, or with an unusual smell. 
    Empty and dry-run (see below) Getinge vaporizers containing sevoflurane if they have not been used in the last 30 days and there are no signs of corrosion or discoloration.

    On January 15, 2025, Getinge and its subsidiary Maquet Critical Care AB, sent all affected customers an Urgent Medical Device Recall letter recommending the following actions: 

    Quarantine all affected product. 
    Do not empty any vaporizer used with sevoflurane that has signs of discoloration or corrosion, or with an unusual smell. Use protective gloves, goggles and use general chemical handling safety guidelines when moving the vaporizer for storage.
    If there are no signs of discoloration or corrosion within the vaporizer or an unusual smell, empty it and perform dry run instructions (included in the letter and the instructions for use) as follows:

    Reinsert the Vaporizer: After emptying the vaporizer following the instructions in the user manual, reinstall it into the Flow Family anesthesia system.
    Initiate Manual Mode: Start a case and set the Flow Family anesthesia system to Manual mode.
    Adjust Gas Flow: Increase the fresh gas flow to 20 liters per minute (l/min).
    Set Sevoflurane Concentration: Adjust the sevoflurane concentration to 8%.
    Dry-Run Process: Allow the system to run for 5 minutes to ensure the vaporizer is completely emptied.
    Remove or Refill: After the dry run is complete, remove the empty vaporizer from the anesthesia system. Either store it or refill it with fresh sevoflurane if immediate use is required.

    Contact the local Getinge representative or email Sales Support at CSalesSupport@getinge.com to request a return authorization (RMA) and shipping instructions for return of empty affected product. 

    Ask the Getinge representative for specific instructions related to the return of vaporizers with signs of discoloration/corrosion if needed. 

    Forward the notice to anyone who needs to be aware, whether inside the organization or at any other facility where affected devices have been transferred. 
    Complete and sign the Urgent Medical Device Recall Response Form attached to the letter, even if no affected product is present. 

    Reason for Recall   
    Getinge is recalling the Vaporizer Sevoflurane Maquet Filling and Vaporizer Sevoflurane Quick-Fil after receiving reports of discoloration and/or corrosion within the vaporizer after it was used with low water content sevoflurane manufactured by Piramal or Baxter. Sevoflurane used in the vaporizer may degrade to hydrogen fluoride. This toxic and hazardous acid may present a risk to both patients and health care professionals if it is inhaled or comes into contact with the skin. This is an expansion of an earlier recall. 
    The use of affected product may cause serious adverse health consequences, including irritation of respiratory tract leading to fluid buildup in the lungs (lung edema) and/or severely low levels of calcium in the blood (hypocalcemia), blistering, skin wounds (superficial ulceration), low levels of magnesium in the blood (hypomagnesemia), and death.
    There have been no reported injuries and no reports of death.  
    Device Use 
    Vaporizers Sevoflurane Maquet Filling and Sevoflurane Quick-Fil are part of the Flow anesthesia systems. These vaporizers are used exclusively for containing, vaporizing, and blending liquid sevoflurane with oxygen to start and maintain general anesthesia. The manufacturers Abbvie, Baxter, and Piramal produce different formulations of sevoflurane.
    Contact Information
    Customers in the U.S. with questions about this recall should contact the local Getinge representative or email Sales Support at CCSalesSupport@getinge.com.
    Additional FDA Resources 

    Unique Device Identifier (UDI)
    The unique device identifier (UDI) helps identify individual medical devices sold in the United States from manufacturing through distribution to patient use. The UDI allows for more accurate reporting, reviewing, and analyzing of adverse event reports so that devices can be identified, and problems potentially corrected more quickly. 

    How do I report a problem? 
    Health care professionals and consumers may report adverse reactions or quality problems they experienced using these devices to MedWatch: The FDA Safety Information and Adverse Event Reporting Program.

    Content current as of:
    03/03/2025

    MIL OSI USA News

  • MIL-OSI USA: Luján, Cramer Announce Reintroduction of Bipartisan Legislation to Develop New Technology to Identify and Plug Orphaned Wells

    US Senate News:

    Source: United States Senator Ben Ray Luján (D-New Mexico)
    Bipartisan Bill Builds on Successful Bipartisan Infrastructure Law Initiative Championed by Luján and Cramer to Clean Orphaned Wells;
    Orphaned Wells Can Be Hazardous to Public Health and Safety
    Washington, D.C. – Today, U.S. Senators Ben Ray Luján (D-N.M.) and Kevin Cramer (R-N.D.) announced the reintroduction the Abandoned Well Remediation Research and Development Act (AWRRDA) to identify and remediate abandoned gas and oil wells, which can leak methane, contaminate groundwater, and create community safety risks. The AWRRDA builds on Senators Luján and Cramer’s REGROW Act, which was adopted in the Bipartisan Infrastructure Law and put skilled energy workers back to work to plug abandoned wells. Despite the progress of the REGROW Act, methods for identifying and remediating abandoned wells are currently not well developed. Congresswoman Summer Lee (D-Pa.) leads companion legislation in the House of Representatives.
    Senators Luján and Cramer’s AWRRDA will authorize funding to enhance the abandoned well remediation programs currently authorized in the Bipartisan Infrastructure Law by ensuring that funds are dedicated to thoroughly researched efforts that maximize benefits for affected communities and the energy sector. Specifically, the AWRRDA will support the Department of Energy’s efforts to develop:
    Technology to detect and catalog abandoned wells more rapidly and efficiently, such as remote sensors and optical gas imaging;
    Methods to more accurately quantify methane emissions and how they are affected by well age, geology and other factors;
    Processes to plug and remediate abandoned wells more efficiently, economically, and sustainably;
    Innovative alternative uses for abandoned wells, including geothermal power production or carbon dioxide storage, which will create entirely new economic sectors that leverage abandoned and hazardous infrastructure; and
    An improved understanding of abandoned well impacts on groundwater quality.
    “In New Mexico and across the country, abandoned wells pose serious environmental harm and threaten the health of our communities. That’s why our REGROW Act works to cut methane emissions and lessen public health risks, but more research and development is needed to help identify the thousands of abandoned wells nationwide,” said Senator Luján. “I’m proud to reintroduce this bipartisan legislation with Senator Cramer to build upon our work in the Bipartisan Infrastructure Law to further develop technology to identify and plug abandoned wells to prevent public health risks, create jobs, and boost economic growth.”
    “North Dakota is a leader in remediating abandoned wells,” said Senator Cramer. “Our legislation builds on the successes of REGROW and keeps the momentum going. It invests in new and innovative ways to track the problem, mitigate any damage, and hopefully prevent degradation in the future. This will help more land be returned to productive use and address safety issues.”
    Full text of the bill is available here. Endorsement quotes can be found here.

    MIL OSI USA News

  • MIL-OSI Submissions: Energy Tech and VPPs – Flexibility is crucial to maintain grid stability, says GridBeyond latest white paper

    Source: GridBeyond

    In a market with high renewable penetration and unique geographical challenges, flexibility is crucial to maintaining grid stability in Australia. In recent years, the concept of Virtual Power Plants (VPPs) has emerged as a transformative solution. By integrating numerous Distributed Energy Resources (DERs) into one network, VPPs are changing the way electricity is generated, managed, and utilised says GridBeyond’s report Virtual power plants in Australia – A bright future ahead.

    Australia is a leader in renewable energy adoption, with solar and wind constituting a significant share of its energy mix. Renewables are becoming an increasingly critical part of the global energy system, but their intermittent nature means there is a need for a significant increase in flexible resources to manage an increased volatility. In addition, adoption of flexible devices such as heat pumps, Electric Vehicles (EVs), and battery storage is accelerating, while regulators and utilities are looking for solutions to reliability and affordability challenges.

    The energy sector is facing major challenges to meet the demands of global warming mitigation and adaptation, which require the decarbonisation of multiple sectors of the economy.  VPPS have emerged as a transformative solution offering a flexible and decentralised approach. By integrating numerous Distributed Energy Resources (DERs) into one network, VPPs are changing the way electricity is generated, managed, and utilised and can offer a wide array of benefits across energy system that can be managed by AI-powered technologies supporting businesses in managing their energy consumption and support grid stability.

    About GridBeyond

    GridBeyond began commercially trading in 2010 and is home to the world’s first hybrid battery and demand network. Now a global player in the energy transition, GridBeyond provides a powerful combination of technological excellence, consultative approach and unrivalled AI expertise that enables its clients to maximize energy services, while supporting the wider electricity grid’s leap to a greener future through renewable generation expansion.

    GridBeyond delivers energy services, new revenues, enhanced savings, strengthened operations and sustainability to over 900 I&C customer sites worldwide, including some of the planet’s most recognized brands in just about every commercial sector.

    MIL OSI – Submitted News

  • MIL-OSI USA: Klobuchar Invites Minnesota Farmer as Guest to Joint Address

    US Senate News:

    Source: United States Senator Amy Klobuchar (D-Minn)

    WASHINGTON — U.S. Senator Amy Klobuchar (D-MN), Ranking Member of the Senate Committee on Agriculture, Nutrition, and Forestry, announced that Gary Wertish, a third-generation farmer from Renville County and President of the Minnesota Farmers Union, will be her guest at President Trump’s address to a joint session of Congress on Tuesday, March 4. 2025.

    “Gary represents so many family farmers and other Minnesotans who are worried about making ends meet because of the Administration’s proposed tariffs, funding freezes, and mass layoffs,” said Klobuchar. “He will be a voice for all Minnesota farmers at the President’s Joint Address.”

    “Family farmers are used to watching the skies and hoping for favorable weather. Now they are watching Washington and wondering what a potential trade war, layoffs at local USDA offices, and proposed cuts to Farm Bill programs are going to mean for their farms and communities,” said Wertish. “This only adds to uncertainty and challenges going into spring planting. We’re grateful Senator Klobuchar is working to build bipartisan support for stable trading relationships and a new Farm Bill. I’m honored by her invitation.”

    Gary Wertish ran a diversified grain and livestock farm and now assists his son, Tom, in operating their family farm near Renville. He was elected Minnesota Farmers Union President in January 2017, is a member of the National Farmers Union board of directors, and a member of the NFU Executive Committee. Wertish is a board member of Farmers Union Enterprises and serves as the livestock facilitator for the World Farmers Organization Livestock Working Group. He has served on MFU and NFU policy committees and as an MFU field representative. 

    Since 1991, Wertish has served as a supervisor for Emmet Township in Renville County. He also served nine years as a director and president of the Renville Volunteer Ambulance Service. From 1993 to 1999, Gary served on the USDA’s Agricultural Technical Advisory Committee for Sweeteners, and presently is a member of the Agricultural Technical Advisory Committee for Trade in Grains, Feed, Oilseeds and Planting Seeds. From 2001 to 2007, Wertish served as then-Senator Mark Dayton’s Agricultural Director.

    Wertish graduated from Renville High School and Willmar Area Vocational Technical Institute, with a degree in agriculture business management. He and his wife, Jeanne, are the parents of four adult children.

    MIL OSI USA News

  • MIL-OSI USA: Warner and Kaine Reintroduce Legislation to Designate Blue Ridge Music Center’s Amphitheater after Former Rep. Rick Boucher

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) reintroduced legislation to formally designate the Blue Ridge Music Center’s outdoor amphitheater the “Rick Boucher Amphitheater” after former Rep. Rick Boucher.

    “We are deeply appreciative of Congressman Boucher’s commitment to public service, and his continued work for Southwest Virginia,” the senators said. “We can think of no better way to honor his years of public service than by dedicating this treasured music center, which he championed during his years in office, after him.”

    Former Rep. Boucher, an Abingdon native, represented Southwest Virginia’s ninth congressional district in the House of Representatives from 1983 to 2011. Rep. Boucher was an early supporter of the development of the Blue Ridge Music Center and continued to advocate for the project throughout his tenure. He also served as the Chairman of the U.S. House Energy Subcommittee on Communications, Technology and the Internet as well as Chairman of the Subcommittee on Energy and Air Quality while in Congress.

    Located in Galax, VA, the Blue Ridge Music Center is home to a visitor center, outdoor amphitheater, indoor interpretive center, and the Roots of American Music Museum, which highlights the historical significance of the region’s musical culture. The museum was featured in USA TODAY’s Top 10 Best Free Museums in the United States for 2025. The Blue Ridge Music Center is operated by the National Park Service with musical programming coordinated through a partnership with the Blue Ridge Parkway Foundation. On August 25, 2022, Sen. Kaine toured the center and performed at Midday Mountain Music.

    The legislation previously passed the Senate on December 23, 2022 but did not pass the House of Representatives before the end of the 117th Congress.

    Full text of the legislation is available here.

    MIL OSI USA News

  • MIL-OSI Economics: W&T Offshore Announces Fourth Quarter and Full Year 2024 Results Including Year-End 2024 Proved Reserves, Provides Guidance for 2025 and Declares Dividend for First Quarter of 2025

    Source: W & T Offshore Inc

    Headline: W&T Offshore Announces Fourth Quarter and Full Year 2024 Results Including Year-End 2024 Proved Reserves, Provides Guidance for 2025 and Declares Dividend for First Quarter of 2025

    HOUSTON, March 03, 2025 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (“W&T,” the “Company” or “us”) today reported operational and financial results for the fourth quarter and full year 2024, including the Company’s year-end 2024 reserve report. Detailed guidance for the first quarter of 2025 and full year 2025 was also provided, and W&T announced its dividend for the first quarter of 2025.

    This press release includes non-GAAP financial measures, including Adjusted Net Loss, Adjusted EBITDA, Free Cash Flow, Net Debt and PV-10 which are described and reconciled to the most comparable GAAP measures below in the accompanying tables under “Non-GAAP Information.”

    Key highlights for the fourth quarter of 2024, the full year 2024 and since year end 2024 include:

    • Delivered production in full year 2024 of 33.3 thousand barrels of oil equivalent per day (“MBoe/d”) (43% oil), or 12.2 million barrels of oil equivalent (“MMBoe”). This production was within the Company’s guidance range despite impacts from three hurricanes in the Gulf of America (“GOA”) and other downtime which was mainly related to the Cox acquisition (as defined below);
      • Achieved mid-point of the guidance for annual oil production and increased it by 4% year-over-year;
      • Produced 32.1 MBoe/d (43% oil) or 3.0 MMBoe in fourth quarter 2024, within W&T’s guidance range;
      • Announced the Main Pass 108 and 98 fields as well as the West Delta 73 field are expected to come back online in the second quarter of 2025;
    • Increased year-end 2024 proved reserves at SEC pricing to 127.0 MMBoe, with oil reserves increasing 39%;
      • Reported a standardized measure of discounted future net cash flows of $740.1 million and a present value of estimated future oil and natural gas revenues, minus direct expenses, discounted at a 10% annual rate (“PV-10”) of $1.2 billion, a 14% increase compared to PV-10 for year-end 2023, despite lower SEC pricing;
      • Benefited from acquisitions totaling 21.7 MMBoe, along with positive well performance and technical revisions of 5.0 MMBoe, partially offset by 10.5 MMBoe of negative price revisions and 12.2 MMBoe of production for the year, resulting in replacement of 219% of 2024 production with new reserves;
    • Incurred lease operating expenses (“LOE”) of $281.5 million in full year 2024, at the low end of the Company’s full year guidance range and $64.3 million in fourth quarter 2024, 12% below the low end of the Company’s fourth quarter guidance;
    • Acquired six shallow water GOA fields in January 2024 (“the Cox acquisition”), all of which are 100% working interest and located adjacent to existing W&T operations, for $77.3 million, which was funded with cash on hand;
    • Sold a non-core interest in Garden Banks Blocks 385 and 386 in January 2025, which included latest net production of approximately 195 barrels of oil equivalent per day (“Boe/d”) (72% oil) for $11.9 million (the “Garden Banks Disposition”), or over $60,000 per flowing barrel, after customary closing adjustments;
    • Received $58.5 million in cash for an insurance settlement (the “Insurance Settlement”) related to the Mobile Bay 78-1 well, in first quarter of 2025, which further bolsters W&T’s balance sheet;
    • Successfully refinanced the Company’s $275.0 million 11.75% Senior Second Lien Notes due 2026 (the “11.75% Notes”) and $114.2 million outstanding amount under the term loan provided by Munich Re Risk Financing, Inc., as lender (the “MRE Term Loan”) with proceeds from the issuance of new $350.0 million of 10.75% Senior Second Lien Notes due 2029 (the “10.75% Notes”) in January 2025 and available cash on hand;
      • Paid down and effectively reduced gross debt by around $39.0 million;
      • Eliminated principal payments of $27.6 million in 2025, $25.4 million in 2026, $22.9 million in 2027 and $38.3 million in 2028;
      • Lowered interest rate on the Senior Second Lien Notes by 100 basis points;
    • Entered into a new credit agreement in the first quarter 2025 for a $50 million revolving credit facility which matures in July 2028, that is undrawn and replaces the previous credit facility provided by Calculus Lending, LLC;
    • Reported net loss for full year 2024 of $87.1 million, or $(0.59) per diluted share and net loss of $23.4 million, or $(0.16) per diluted share for fourth quarter 2024;
      • Adjusted Net Loss totaled $67.6 million, or $(0.46) per diluted share for full year 2024, and $26.2 million, or $(0.18) per diluted share, for fourth quarter 2024, which primarily excludes the net unrealized gain on outstanding derivative contracts, non-ARO plugging and abandonment (“P&A”) costs, other costs and the related tax effect;
    • Generated Adjusted EBITDA of $153.6 million in full year 2024 and $31.6 million in the fourth quarter of 2024;
    • Produced net cash from operating activities of $59.5 million and Free Cash Flow of $44.9 million in full year 2024;
    • Reported cash and cash equivalents of $109.0 million, lowered total debt to $393.2 million and lowered Net Debt to $284.2 million at December 31, 2024;
    • Added costless collar hedges for 50,000 million British Thermal Units per day (“MMBtu/d”) of natural gas for the period of March through December 2025;
    • Paid fifth consecutive quarterly dividend of $0.01 per common share in November 2024; and
      • Declared first quarter 2025 dividend of $0.01 per share, which will be payable on March 24, 2025 to stockholders of record on March 17, 2025;

    Tracy W. Krohn, W&T’s Chairman of the Board and Chief Executive Officer, commented, “We delivered solid results in 2024 thanks to our continued commitment to executing on our strategic vision focused on free cash flow generation, maintaining solid production and maximizing margins. We generated strong Adjusted EBITDA of $153.6 million and Free Cash Flow of $44.9 million for full year 2024. This was achieved despite limited contribution from the Cox acquisition as we continued to work on enhancing long-term value for these assets at the expense of deferring some near-term production. Some of this benefit is already reflected in our year-end reserves, which saw a 39% increase in oil reserves, and our PV-10 increased by almost $150 million, despite lower SEC pricing compared to year end 2023. We replaced production by over 200% with our positive revisions and acquisitions. Our focus on cost control and capturing synergies associated with our asset acquisitions contributed to our LOE coming in at the bottom end of our reduced guidance range. In addition, we are expecting further production uplift associated with the remaining fields from the Cox acquisition coming online in the second quarter of 2025 that have been shut in so that we could improve the facilities and transportation of production to enhance safety and efficiency of operations in the future.”

    “In early 2025, we strengthened our balance sheet by closing the new 10.75% Notes, entered into a new revolving credit facility and added material cash through a non-core disposition and an insurance settlement. The new 10.75% Notes have an interest rate 100 basis points lower than our 11.75% Notes and received improved credit ratings from S&P and Moody’s, had a broad distribution including international investors and were significantly oversubscribed. We also received a $58.5 million cash insurance settlement payment related to a well loss event. Finally, we sold our non-core interests for $11.9 million after customary closing adjustments in Garden Banks 385 and 386 at over $60,000 per flowing barrel which is highly accretive to W&T. This further demonstrates the value of our assets and our ability to divest our properties at attractive multiples.”

    Mr. Krohn concluded, “As we progress through 2025 with a stronger balance sheet, we remain poised to take advantage of potential acquisitions that will be accretive to our stakeholders. We remain committed to enhancing shareholder value and returning value to our shareholders through the quarterly dividend in place since November 2023. Our strategy has proven to be sustainable over the past 40 plus years, and we are well-positioned to continue to successfully execute it in the future.”

    Production, Prices and Revenue: Production for the fourth quarter of 2024 was 32.1 MBoe/d, within the Company’s fourth quarter guidance and up 4% compared with 31.0 MBoe/d for the third quarter of 2024 and down compared with 34.1 MBoe/d for the corresponding period in 2023. Production in the second half of 2024 was temporarily reduced mainly due to multiple named storms and third-party downtime. Fourth quarter 2024 production was comprised of 13.7 thousand barrels per day (“MBbl/d”) of oil (43%), 3.0 MBbl/d of natural gas liquids (“NGLs”) (9%), and 92.4 million cubic feet per day (“MMcf/d”) of natural gas (48%).

    W&T’s average realized price per Boe before realized derivative settlements was $39.86 per Boe in the fourth quarter of 2024, a decrease of 5% from $41.92 per Boe in the third quarter of 2024 and a decrease of 4% from $41.55 per Boe in the fourth quarter of 2023. Fourth quarter 2024 oil, NGL and natural gas prices before realized derivative settlements were $68.71 per barrel of oil, $24.59 per barrel of NGL and $2.85 per Mcf of natural gas.

    Revenues for the fourth quarter of 2024 were $120.3 million, which were slightly lower than the third quarter of 2024 revenues of $121.4 million driven by lower realized prices for oil. Fourth quarter 2024 revenues were approximately 9% lower than $132.3 million of revenues in the fourth quarter of 2023 due to lower average realized prices and lower production volumes.

    Lease Operating Expenses: LOE, which includes base lease operating expenses, insurance premiums, workovers and facilities maintenance expenses, was $64.3 million in the fourth quarter of 2024, which was 12% below the low end of the previously provided guidance range of $73.0 to $81.0 million. LOE came in lower than expected as the Company continued to realize synergies from asset acquisitions in late 2023 and early 2024. LOE for the fourth quarter of 2024 was approximately 11% lower compared to $72.4 million in the third quarter of 2024 primarily due to favorable audit adjustments, an increase in royalty credits and lower repairs and maintenance costs. LOE for the fourth quarter of 2024 was essentially flat compared to $64.6 million for the corresponding period in 2023. On a component basis for the fourth quarter of 2024, base LOE and insurance premiums were $53.5 million, workovers were $0.9 million, and facilities maintenance and other expenses were $9.9 million. On a unit of production basis, LOE was $21.76 per Boe in the fourth quarter of 2024. This compares to $25.37 per Boe for the third quarter of 2024 and $20.61 per Boe for the fourth quarter of 2023, reflecting a decrease in production in the periods.

    Gathering, Transportation Costs and Production Taxes: Gathering, transportation costs and production taxes totaled $5.9 million ($2.00 per Boe) in the fourth quarter of 2024, compared to $6.1 million ($2.15 per Boe) in the third quarter of 2024 and $6.6 million ($2.11 per Boe) in the fourth quarter of 2023. Gathering, transportation costs and production taxes decreased in the fourth quarter of 2024 from the prior quarter due to lower processing and transportation fees offset by increased production taxes.

    Depreciation, Depletion and Amortization (“DD&A”): DD&A was $12.94 per Boe in the fourth quarter of 2024. This compares to $11.99 per Boe and $10.73 per Boe for the third quarter of 2024 and the fourth quarter of 2023, respectively.

    Asset Retirement Obligations Accretion: Asset retirement obligations accretion was $2.76 per Boe in the fourth quarter of 2024. This compares to $2.75 per Boe and $2.35 per Boe for the third quarter of 2024 and the fourth quarter of 2023, respectively.

    General & Administrative Expenses (“G&A”): G&A was $20.8 million for the fourth quarter of 2024, which increased from $19.7 million in the third quarter of 2024 primarily due to higher quarter over quarter accrual for non-cash long-term incentives and increased from $18.3 million in the fourth quarter of 2023 primarily due to higher quarter over quarter accruals for short-term incentives and non-cash long term incentives. On a unit of production basis, G&A was $7.04 per Boe in the fourth quarter of 2024 compared to $6.91 per Boe in the third quarter of 2024 and $5.82 per Boe in the corresponding period of 2023. These differences are primarily related to production variances.

    Derivative (Gain) Loss, net: In the fourth quarter of 2024, W&T recorded a net loss of $2.1 million with commodity derivative contracts comprised of $2.6 million of realized losses and $0.5 million of unrealized gains related to the increase in fair value of open contracts. W&T recognized a net gain of $3.2 million in the third quarter of 2024 and a net gain of $13.2 million in the fourth quarter of 2023 related to commodity derivative activities.

    To take advantage of the recent uptick in prices for natural gas, W&T recently added Henry Hub costless collars for 50,000 MMBtu/d of natural gas for the period of March through December 2025 with a floor of $3.88 per MMBtu and a ceiling of $5.125 per MMBtu.

    A summary of the Company’s outstanding derivative positions is provided in the investor presentation posted on W&T’s website.

    Interest Expense: Net interest expense in the fourth quarter of 2024 was $10.2 million compared to $10.0 million in the third quarter of 2024 and $9.7 million in the fourth quarter of 2023.

    Other Expense: During 2021 and 2022, as a result of the declaration of bankruptcy by a third party that is the indirect successor in title to certain offshore interests that were previously divested by the Company, W&T recorded a contingent loss accrual related to anticipated non-ARO P&A costs. During the fourth quarter of 2024, the Company reassessed its existing obligations and recorded a $2.8 million decrease in the contingent loss accrual.

    Income Tax (Benefit) Expense: W&T recognized an income tax benefit of $1.8 million in the fourth quarter of 2024. This compares to the recognition of an income tax benefit of $4.5 million and an income tax expense of $1.9 million for the quarters ended September 30, 2024 and December 31, 2023, respectively.

    Capital Expenditures and Asset Retirement Settlements: Capital expenditures on an accrual basis (excluding acquisitions) in the fourth quarter of 2024 were $12.2 million, and asset retirement settlement costs totaled $19.3 million. For the year ended December 31, 2024, capital expenditures on an accrual basis (excluding acquisitions) totaled $28.6 million and asset retirements costs were $39.7 million. Investments related to acquisitions in the year ended December 31, 2024 totaled $80.6 million, which included $77.3 million for the Cox acquisition and $3.3 million of final purchase price adjustments related to W&T’s acquisition of properties in September 2023.

    Balance Sheet and Liquidity: As of December 31, 2024, W&T had available liquidity of $159.0 million comprised of $109.0 million in unrestricted cash and cash equivalents and $50.0 million of borrowing availability under W&T’s first priority secured revolving facility provided by Calculus Lending LLC. As of December 31, 2024, the Company had total debt of $393.2 million and Net Debt of $284.2 million. As of December 31, 2024, Net Debt to trailing twelve months (“TTM”) Adjusted EBITDA was 1.8x.

    Debt Refinance: On January 28, 2025 W&T closed an offering of the 10.75% Notes at par in a private offering that was exempt from registration under the Securities Act of 1933, as amended. The Company used a portion of the proceeds from the 10.75% Notes offering, along with cash on hand to, (i) purchase for cash pursuant to a tender offer, such of the Company’s outstanding 11.75% Notes that were validly tendered pursuant to the terms thereof, (ii) repay $114.2 million outstanding under the Term Loan, (iii) fund the full redemption amount for an August 1, 2025 redemption of the remaining 11.75% Notes not validly tendered and accepted for purchase in the tender offer, and (iv) pay premiums, fees and expenses related to these transactions. On the closing date of the offering of the 10.75% Notes, the Company completed all actions necessary to satisfy and discharge the indenture governing the 11.75% Notes.

    Pro forma for the debt refinance, the Garden Banks Disposition and the Insurance Settlement, as of December 31, 2024, W&T’s cash and cash equivalents would have been approximately $104.3 million, total debt would have been approximately $349.5 million and Net Debt would have been approximately $245.2 million. As of December 31, 2024, the pro forma Net Debt to TTM Adjusted EBITDA would have been 1.6x.

    In conjunction with the issuance of the 10.75% Notes, the Company entered into a new credit agreement which provides the Company with a revolving credit and letter of credit facility, with initial lending commitments of $50 million with a letter of credit sublimit of $10 million. The Credit Facility matures on July 28, 2028.

    Accretive Acquisition of Producing Properties in the GOA: In January 2024, W&T was the successful bidder for six fields in the GOA, including Eugene Island 64, Main Pass 61, Mobile 904, Mobile 916, South Pass 49 and West Delta 73, all of which include a 100% working interest and an average 82% net revenue interest. They are located in water depths ranging between approximately 15 and 400 feet. Their proximity to W&T’s areas of existing operations provides the ability for W&T to capture synergies regarding personnel, well optimization, gathering and transport. The final purchase price for the assets was $77.3 million, after closing costs and other transaction costs, which were funded from the Company’s cash on hand. Key highlights of the transaction included:

    • Added significant year-end 2024 reserves of 21.7 MMBoe (62% liquids), even after excluding 1.3 MMBoe of production during 2024;
    • Based on the cash consideration paid of $77.3 million, this equates to a price of $3.38 per Boe of 2024 SEC reserves booked, when adding back 2024 production of 1.3 MMBoe;
    • Multiple fields were immediately shut-in while improvements were made to bring them up to W&T’s standards for safety and efficiency. Those fields are expected to come back online in the first half of 2025;
      • The Main Pass 108 and 98 fields as well as the West Delta 73 field are expected to return to production in the second quarter of 2025; and
    • The Company believes that it can further increase production on these properties through workovers, recompletions and ongoing facility upgrades.

    Non-Core Asset Disposition

    In early 2025, W&T sold a non-core interest in Garden Banks Blocks 385 and 386, which included net production of approximately 195 Boe/d, for $11.9 million after normal purchase price adjustments. The effective date of the sale was December 1, 2024, and the transaction closed in January 2025. The impact to W&T’s reserves for year-end 2024 were minimal at about 0.12 MMBoe.

    Full Year-End 2024 Financial Review

    W&T reported a net loss for the full year 2024 of $87.1 million, or $(0.59) per diluted share, and Adjusted Net Loss of $67.6 million, or $(0.46) per diluted share. For the full year 2023, the Company reported net income of $15.6 million, or $0.11 per diluted share, and Adjusted Net Loss of $21.7 million, or $(0.15) per diluted share. W&T generated Adjusted EBITDA of $153.6 million for the full year 2024 compared to $183.2 million in 2023. The year-over-year decrease was primarily driven by lower oil and natural gas prices and decreased production. Revenues totaled $525.3 million for 2024 compared with $532.7 million in 2023. Net cash provided by operating activities for the year ended December 31, 2024 was $59.5 million compared with $115.3 million for the same period in 2023. Free Cash Flow totaled $44.9 million in 2024 compared with $63.3 million in 2023.

    Production for 2024 averaged 33.3 MBoe/d for a total of 12.2 MMBoe, comprised of 5.3 MMBbl of oil, 1.2 MMBbl of NGLs and 34.3 Bcf of natural gas. Full year 2023 production averaged 34.9 MBoe/d or 12.7 MMBoe in total and was comprised of 5.1 MMBbl of oil, 1.4 MMBbl of NGLs and 37.6 Bcf of natural gas.  

    For the full year 2024, W&T’s average realized sales price per barrel of crude oil was $75.28 and $23.08 per barrel of NGLs and $2.65 per Mcf of natural gas. While the realized pricing for oil and natural gas were down year-over-year, the production mix was more weighted toward oil in 2024, thus the equivalent sales price for 2024 was $42.23 per Boe, which was 3% higher than the equivalent price of $41.16 per Boe realized in 2023.  For 2023, the Company’s realized crude oil sales price was $75.52 per barrel, NGL sales price was $22.93 per barrel, and natural gas price was $2.93 per Mcf.

    For the full year 2024, LOE was $281.5 million compared to $257.7 million in 2023. While LOE increased year-over-year in 2024 due to increased workover and facility investments, higher oil production and costs from the acquisition of additional properties in January 2024 and September 2023, W&T’s LOE for 2024 was 10% below the midpoint guidance for LOE as the Company was able to mitigate some of these increased costs through synergies from the asset acquisitions.

    Gathering, transportation, and production taxes totaled $28.2 million in 2024, an increase from the $26.3 million in 2023.

    For the full year 2024, G&A was $82.4 million, which was a 9% increase over the $75.5 million reported in 2023. The increase year-over-year is primarily due to increased salary and benefits costs and non-recurring legal fees that were somewhat offset by lower accruals for short-term incentives. On a per unit basis, G&A per Boe was $6.76 in 2024, up from $5.93 per Boe in 2023.  G&A increased on a per Boe basis primarily due to lower production.  

    OPERATIONS UPDATE

    Well Recompletions and Workovers

    During the fourth quarter of 2024, the Company performed two workovers and two recompletions that positively impacted production for the quarter. W&T plans to continue performing these low cost and low risk short payout operations that impact both production and revenue.

    Year-End 2024 Proved Reserves

    The Company’s year-end 2024 SEC proved reserves were 127.0 MMBoe, compared with 123.0 MMBoe at year-end 2023. In 2024, W&T recorded positive performance revisions of 5.0 MMBoe, and acquisitions of reserves of 21.7 MMBoe, which were offset by 10.5 MMBoe of negative price revisions and 12.2 MMBoe of production for the year.  During 2024, W&T continued to focus on reducing Net Debt while identifying and executing attractive acquisitions.  Successful workovers, operational excellence and acquisitions allowed W&T to replace 219% of production with new reserves.  

    The SEC twelve-month first day of the month average spot prices used in the preparation of the report for year-end 2024 were $76.32 per barrel of oil and $2.13 per MMBtu of natural gas. Comparable prices used for the prior year report were $78.21 per barrel of oil and $2.64 per MMBtu of natural gas. The PV-10 of W&T’s proved reserves at year-end 2024 increased 14% to $1.2 billion from $1.1 billion at year-end 2023, driven primarily by an increase in oil reserves due to the acquisition in January 2024 and by positive reserve performance revisions which were somewhat offset by lower SEC pricing.

    Approximately 51% of year-end 2024 proved reserves were liquids (41% crude oil and 10% NGLs) and 49% natural gas. The reserves were classified as 52% proved developed producing, 31% proved developed non-producing, and 17% proved undeveloped. W&T’s reserve life ratio at year-end 2024, based on year-end 2024 proved reserves and 2024 production, was 10.4 years.

                           
        Oil   NGLs   Natural Gas       PV-101
        (MMBbls)   (MMBbls)   (Bcf)   MMBoe   ($MM)
    Proved reserves as of December 31, 2023   37.0     13.7     434.0     123.0     $ 1,080.9
    Revisions of previous estimates   7.4     1.8     (26.1 )   5.0        
    Revisions due to change in SEC prices   (0.4 )   (1.6 )   (51.0 )   (10.5 )      
    Purchase of minerals in place   12.9     0.3     51.8     21.7        
    Production   (5.3 )   (1.2 )   (34.3 )   (12.2 )      
    Proved reserves as of December 31, 2024   51.6     13.0     374.4     127.0     $ 1,229.5

    (1)   PV-10 for this presentation excludes any provisions for asset retirement obligations or income taxes.

    In accordance with guidelines established by the SEC, estimated proved reserves as of December 31, 2024 were determined to be economically producible under existing economic conditions, which requires the use of the 12-month average of the first-day-of-the-month price for the year ended December 31, 2024. The WTI spot price and the Henry Hub spot price were utilized as the reference prices and after adjusting for quality, transportation, fees, energy content, and regional price differentials, the average realized prices were $74.69 per barrel for oil, $22.98 per barrel for NGLs, and $2.58 per Mcf for natural gas. In determining the estimated realized price for NGLs, a ratio was computed for each field of the NGLs realized price compared to the crude oil realized price. This ratio was then applied to the crude price using SEC guidance. Such prices were held constant throughout the estimated lives of the reserves. Future estimated production and development costs are based on year-end costs with no escalations.

    The standardized measure of future net cash flows was $740.1 million at December 31, 2024, which is calculated as the PV-10 of $1,229.5 million less discounted cash outflows of $334.6 million associated with asset retirement obligations and $154.8 million associated with income taxes. At December 31, 2023, the standardized measure was $683.2 million, which is calculated as the PV-10 of $1,080.9 million less discounted cash outflows of $246.7 million associated with asset retirement obligations and $151.0 million associated with income taxes.

    First Quarter and Full Year 2025 Production and Expense Guidance

    The guidance for the first quarter and full year 2025 in the table below represents the Company’s current expectations. Please refer to the section entitled “Forward-Looking and Cautionary Statements” below for risk factors that could impact guidance.

    In the first quarter of 2025, there have been several planned facility and pipeline maintenance projects as well as unplanned downtime at several fields due to multiple winter freezes in the first quarter of 2025 that temporarily reduced production. Full year 2025 production reflects the West Delta 73 field returning to production in the second quarter as well as the other fields that were temporarily shut-in during the first quarter of 2025. First quarter 2025 LOE is expected to be higher than the prior quarter due to increased maintenance and repair costs and facility upgrades; full year 2025 LOE is expected to be modestly higher than 2024.

         
    Production First Quarter 2025 Full Year 2025
    Oil (MBbl) 1,130 – 1,250 5,150 – 5,690
    NGLs (MBbl) 205 – 235 1,020 – 1,140
    Natural gas (MMcf) 7,220 – 7,980 34,880 – 38,560
    Total equivalents (MBoe) 2,538 – 2,815 11,983 – 13,257
    Average daily equivalents (MBoe/d) 27.6 – 30.6 32.8 – 36.3
    Expenses First Quarter 2025 Full Year 2025
    Lease operating expense ($MM) 72.5 – 80.5 280.0 – 310.0
    Gathering, transportation & production taxes ($MM) 6.1 – 6.9 27.1 – 30.1
    General & administrative – cash ($MM) 17.8 – 19.8 62.0 – 69.0
    General & administrative – non-cash ($MM) 2.1 – 2.5 10.1 – 11.3
    DD&A ($ per Boe)   13.40 – 14.90

    W&T expects substantially all income taxes in 2025 to be deferred. 

    2025 Capital Investment Program

    W&T’s capital expenditure budget for 2025 is expected to be in the range of $34.0 million to $42.0 million, which excludes potential acquisition opportunities.  Included in this range are planned expenditures related to asset integrations as well as ongoing costs related to the acquisitions for facilities, leasehold, seismic, and recompletions. 

    Plugging and abandonment expenditures are expected to be in the range of $27.0 million to $37.0 million.  The Company spent approximately $40 million on these costs in 2024.

    Conference Call Information: W&T will hold a conference call to discuss its financial and operational results on Tuesday, March 4, 2025 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Interested parties may dial 1-844-739-3797. International parties may dial 1-412-317-5713. Participants should request to connect to the “W&T Offshore Conference Call.” This call will also be webcast and available on W&T’s website at www.wtoffshore.com under “Investors.” An audio replay will be available on the Company’s website following the call.

    About W&T Offshore

    W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of America and has grown through acquisitions, exploration and development. As of December 31, 2024, the Company had working interests in 52 fields in federal and state waters (which include 45 fields in federal waters and seven in state waters). The Company has under lease approximately 646,200 gross acres (502,300 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 493,000 gross acres on the conventional shelf, approximately 147,700 gross acres in the deepwater and 5,500 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.

    Forward-Looking and Cautionary Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this release, including those regarding the Company’s financial position, operating and financial performance, business strategy, plans and objectives of management for future operations, projected costs, industry conditions, potential acquisitions, sustainability initiatives, the impact of and integration of acquired assets, and indebtedness are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes, although not all forward-looking statements contain such identifying words. Items contemplating or making assumptions about actual or potential future production and sales, prices, market size, and trends or operating results also constitute such forward-looking statements.

    These forward-looking statements are based on the Company’s current expectations and assumptions about future events and speak only as of the date of this release. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, as results actually achieved may differ materially from expected results described in these statements. The Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements, unless required by law.

    Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, the regulatory environment, including availability or timing of, and conditions imposed on, obtaining and/or maintaining permits and approvals, including those necessary for drilling and/or development projects; the impact of current, pending and/or future laws and regulations, and of legislative and regulatory changes and other government activities, including those related to permitting, drilling, completion, well stimulation, operation, maintenance or abandonment of wells or facilities, managing energy, water, land, greenhouse gases or other emissions, protection of health, safety and the environment, or transportation, marketing and sale of the Company’s products; inflation levels; global economic trends, geopolitical risks and general economic and industry conditions, such as the global supply chain disruptions and the government interventions into the financial markets and economy in response to inflation levels and world health events; volatility of oil, NGL and natural gas prices; the global energy future, including the factors and trends that are expected to shape it, such as concerns about climate change and other air quality issues, the transition to a low-emission economy and the expected role of different energy sources; supply of and demand for oil, natural gas and NGLs, including due to the actions of foreign producers, importantly including OPEC and other major oil producing companies (“OPEC+”) and change in OPEC+’s production levels; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver the Company’s oil and natural gas and other processing and transportation considerations; inability to generate sufficient cash flow from operations or to obtain adequate financing to fund capital expenditures, meet the Company’s working capital requirements or fund planned investments; price fluctuations and availability of natural gas and electricity; the Company’s ability to use derivative instruments to manage commodity price risk; the Company’s ability to meet the Company’s planned drilling schedule, including due to the Company’s ability to obtain permits on a timely basis or at all, and to successfully drill wells that produce oil and natural gas in commercially viable quantities; uncertainties associated with estimating proved reserves and related future cash flows; the Company’s ability to replace the Company’s reserves through exploration and development activities; drilling and production results, lower–than–expected production, reserves or resources from development projects or higher–than–expected decline rates; the Company’s ability to obtain timely and available drilling and completion equipment and crew availability and access to necessary resources for drilling, completing and operating wells; changes in tax laws; effects of competition; uncertainties and liabilities associated with acquired and divested assets; the Company’s ability to make acquisitions and successfully integrate any acquired businesses; asset impairments from commodity price declines; large or multiple customer defaults on contractual obligations, including defaults resulting from actual or potential insolvencies; geographical concentration of the Company’s operations; the creditworthiness and performance of the Company’s counterparties with respect to its hedges; impact of derivatives legislation affecting the Company’s ability to hedge; failure of risk management and ineffectiveness of internal controls; catastrophic events, including tropical storms, hurricanes, earthquakes, pandemics and other world health events; environmental risks and liabilities under U.S. federal, state, tribal and local laws and regulations (including remedial actions); potential liability resulting from pending or future litigation; the Company’s ability to recruit and/or retain key members of the Company’s senior management and key technical employees; information technology failures or cyberattacks; and governmental actions and political conditions, as well as the actions by other third parties that are beyond the Company’s control, and other factors discussed in W&T Offshore’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q found at www.sec.gov or at the Company’s website at www.wtoffshore.com under the Investor Relations section.

                                   
    W&T OFFSHORE, INC.
    Condensed Consolidated Statements of Operations
    (In thousands, except per share data)
    (Unaudited)
                                   
        Three Months Ended    
        December 31,    September 30,    December 31,    Year Ended December 31, 
           2024        2024        2023     2024        2023  
    Revenues:                              
    Oil   $ 86,778     $ 90,862     $ 94,076     $ 395,620     $ 381,389  
    NGLs     6,713       5,636       6,851       27,978       32,446  
    Natural gas     24,203       23,148       29,401       90,877       110,158  
    Other     2,651       1,726       2,012       10,786       8,663  
    Total revenues     120,345       121,372       132,340       525,261       532,656  
                                   
    Operating expenses:                              
    Lease operating expenses     64,259       72,412       64,643       281,488       257,676  
    Gathering, transportation and production taxes     5,912       6,147       6,620       28,177       26,250  
    Depreciation, depletion, and amortization     38,208       34,206       33,658       143,025       114,677  
    Asset retirement obligations accretion     8,157       7,848       7,377       32,374       29,018  
    General and administrative expenses     20,799       19,723       18,251       82,391       75,541  
    Total operating expenses     137,335       140,336       130,549       567,455       503,162  
                                   
    Operating (loss) income     (16,990 )     (18,964 )     1,791       (42,194 )     29,494  
                                   
    Interest expense, net     10,226       9,992       9,729       40,454       44,689  
    Derivative (gain) loss, net     2,113       (3,199 )     (13,199 )     (3,589 )     (54,759 )
    Other (income) expense, net     (4,118 )     15,709       3,772       18,071       5,621  
    (Loss) income before income taxes     (25,211 )     (41,466 )     1,489       (97,130 )     33,943  
    Income tax (benefit) expense     (1,849 )     (4,545 )     1,932       (9,985 )     18,345  
    Net (loss) income   $ (23,362 )   $ (36,921 )   $ (443 )   $ (87,145 )   $ 15,598  
                                   
    Net (loss) income per share:                              
    Basic   $ (0.16 )   $ (0.25 )   $     $ (0.59 )   $ 0.11  
    Diluted     (0.16 )     (0.25 )           (0.59 )     0.11  
                                   
    Weighted average common shares outstanding                              
    Basic     147,365       147,206       146,578       147,133       146,483  
    Diluted     147,365       147,206       146,578       147,133       148,302  
                                   
    W&T OFFSHORE, INC.
    Condensed Operating Data
    (Unaudited)
                                   
        Three Months Ended    
        December 31,    September 30,    December 31,    Year Ended December 31, 
        2024   2024      2023   2024      2023
    Net sales volumes:                              
    Oil (MBbls)     1,263     1,210     1,219     5,255     5,050
    NGLs (MBbls)     273     262     329     1,212     1,415
    Natural gas (MMcf)     8,505     8,289     9,533     34,296     37,591
    Total oil and natural gas (MBoe) (1)     2,953     2,854     3,136     12,183     12,730
                                   
    Average daily equivalent sales (MBoe/d)     32.1     31.0     34.1     33.3     34.9
                                   
    Average realized sales prices (before the impact of derivative settlements):                              
    Oil ($/Bbl)   $ 68.71   $ 75.09   $ 77.17   $ 75.28   $ 75.52
    NGLs ($/Bbl)     24.59     21.51     20.82     23.08     22.93
    Natural gas ($/Mcf)     2.85     2.79     3.08     2.65     2.93
    Barrel of oil equivalent ($/Boe)     39.86     41.92     41.55     42.23     41.16
                                   
    Average operating expenses per Boe ($/Boe):                              
    Lease operating expenses   $ 21.76   $ 25.37   $ 20.61   $ 23.10   $ 20.24
    Gathering, transportation and production taxes     2.00     2.15     2.11     2.31     2.06
    Depreciation, depletion, and amortization     12.94     11.99     10.73     11.74     9.01
    Asset retirement obligations accretion     2.76     2.75     2.35     2.66     2.28
    General and administrative expenses     7.04     6.91     5.82     6.76     5.93

    (1)   MBoe is determined using the ratio of six Mcf of natural gas to one Bbl of crude oil, condensate or NGLs (totals may not compute due to rounding). The conversion ratio does not assume price equivalency and the price on an equivalent basis for oil, NGLs and natural gas may differ significantly. The realized prices presented above are volume-weighted for production in the respective period.

                 
    W&T OFFSHORE, INC.
    Consolidated Balance Sheets
    (In thousands)
    (Unaudited)
                 
           December 31,    December 31, 
        2024     2023  
    Assets            
    Current assets:            
    Cash and cash equivalents   $ 109,003     $ 173,338  
    Restricted cash     1,552       4,417  
    Receivables:            
    Oil and natural gas sales     63,558       52,080  
    Joint interest, net     25,841       15,480  
    Other           2,218  
    Prepaid expenses and other assets     18,504       17,447  
    Total current assets     218,458       264,980  
                 
    Oil and natural gas properties, net     777,741       749,056  
    Restricted deposits for asset retirement obligations     22,730       22,272  
    Deferred income taxes     48,808       38,774  
    Other assets     31,193       38,923  
    Total assets   $ 1,098,930     $ 1,114,005  
                 
    Liabilities and Shareholders’ (Deficit) Equity            
    Current liabilities:            
    Accounts payable   $ 83,625     $ 78,857  
    Accrued liabilities     33,271       31,978  
    Undistributed oil and natural gas proceeds     53,131       42,134  
    Advances from joint interest partners     2,443       2,962  
    Current portion of asset retirement obligations     46,326       31,553  
    Current portion of long-term debt, net     27,288       29,368  
    Total current liabilities     246,084       216,852  
                 
    Asset retirement obligations     502,506       467,262  
    Long-term debt, net     365,935       361,236  
    Other liabilities     16,182       19,420  
                 
    Commitments and contingencies     20,800       18,043  
                 
    Shareholders’ (deficit) equity:            
    Preferred stock            
    Common stock     2       1  
    Additional paid-in capital     595,407       586,014  
    Retained deficit     (623,819 )     (530,656 )
    Treasury stock     (24,167 )     (24,167 )
    Total shareholders’ (deficit) equity     (52,577 )     31,192  
    Total liabilities and shareholders’ (deficit) equity   $ 1,098,930     $ 1,114,005  
                                   
    W&T OFFSHORE, INC.
    Condensed Consolidated Statements of Cash Flows
    (In thousands)
    (Unaudited)
                                   
        Three Months Ended    
        December 31,    September 30,    December 31,    Year Ended December 31, 
        2024     2024        2023     2024        2023  
    Operating activities:                              
    Net (loss) income   $ (23,362 )   $ (36,921 )   $ (443 )   $ (87,145 )   $ 15,598  
    Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:                              
    Depreciation, depletion, amortization and accretion     46,365       42,054       41,035       175,399       143,695  
    Share-based compensation     3,818       1,956       3,124       10,192       10,383  
    Amortization and write off of debt issuance costs     1,117       1,109       1,266       4,562       6,980  
    Derivative loss (gain), net     2,113       (3,199 )     (13,199 )     (3,589 )     (54,759 )
    Derivative cash (settlements) receipts, net     (1,638 )     1,208       (2,809 )     4,527       (8,932 )
    Deferred income (benefit) taxes     (1,941 )     (4,545 )     3,838       (10,077 )     18,485  
    Changes in operating assets and liabilities:                              
    Accounts receivable     (17,064 )     21,913       (2,989 )     (19,621 )     12,586  
    Prepaid expenses and other current assets     1,792       2,502       (28,262 )     (1,450 )     (2,712 )
    Accounts payable, accrued liabilities and other     3,831       (2,962 )     43,155       26,433       7,972  
    Asset retirement obligation settlements     (19,348 )     (8,347 )     (9,052 )     (39,692 )     (33,970 )
    Net cash (used in) provided by operating activities     (4,317 )     14,768       35,664       59,539       115,326  
                                   
    Investing activities:                              
    Investment in oil and natural gas properties and equipment     (14,124 )     (9,577 )     (12,139 )     (37,357 )     (41,813 )
    Acquisition of property interests                 1,479       (80,635 )     (27,384 )
    Deposit related to acquisition of property interests                 8,850              
    Purchase of corporate aircraft                             (8,983 )
    Purchases of furniture, fixtures and other     (19 )     (69 )     (347 )     (185 )     (3,428 )
    Net cash used in investing activities     (14,143 )     (9,646 )     (2,157 )     (118,177 )     (81,608 )
                                   
    Financing activities:                              
    Proceeds from issuance of long-term debt                             275,000  
    Repayments of long-term debt     (275 )     (275 )     (7,687 )     (1,100 )     (586,934 )
    Debt issuance costs     (183 )     (174 )           (762 )     (7,380 )
    Payment of dividends     (1,475 )     (1,473 )     (1,466 )     (5,902 )     (1,466 )
    Other     (13 )     (31 )     (9 )     (798 )     (957 )
    Net cash used in financing activities     (1,946 )     (1,953 )     (9,162 )     (8,562 )     (321,737 )
    Change in cash, cash equivalents and restricted cash     (20,406 )     3,169       24,345       (67,200 )     (288,019 )
    Cash, cash equivalents and restricted cash, beginning of period     130,961       127,792       153,410       177,755       465,774  
    Cash, cash equivalents and restricted cash, end of period   $ 110,555     $ 130,961     $ 177,755     $ 110,555     $ 177,755  


    W&T OFFSHORE, INC. AND SUBSIDIARIES

    Non-GAAP Information

    Certain financial information included in W&T’s financial results are not measures of financial performance recognized by accounting principles generally accepted in the United States, or GAAP. These non-GAAP financial measures are “Net Debt,” “Adjusted Net Loss,” “Adjusted EBITDA,” “Free Cash Flow” and “PV-10” or are derivable from a combination of these measures. Management uses these non-GAAP financial measures in its analysis of performance. These disclosures may not be viewed as a substitute for results determined in accordance with GAAP and are not necessarily comparable to non-GAAP performance measures which may be reported by other companies. Prior period amounts have been conformed to the methodology and presentation of the current period.

    We calculate Net Debt as total debt (current and long-term portions), less cash and cash equivalents. Management uses Net Debt to evaluate the Company’s financial position, including its ability to service its debt obligations.

    Reconciliation of Net (Loss) Income to Adjusted Net Loss

    Adjusted Net Loss adjusts for certain items that the Company believes affect comparability of operating results, including items that are generally non-recurring in nature or whose timing and/or amount cannot be reasonably estimated. These items include unrealized commodity derivative gain, net, allowance for credit losses, write-off of debt issuance costs, non-recurring legal and IT-related costs, non-ARO P&A costs, and other which are then tax effected using the Federal Statutory Rate. Company management believes that this presentation is relevant and useful because it helps investors to understand the net (loss) income of the Company without the effects of certain non-recurring or unusual expenses and certain income or loss that is not realized by the Company.

                                   
        Three Months Ended    
        December 31,    September 30,    December 31,    Year Ended December 31, 
        2024     2024     2023     2024     2023  
          (in thousands)
          (Unaudited)
    Net (loss) income   $ (23,362 )   $ (36,921 )   $ (443 )   $ (87,145 )   $ 15,598  
    Unrealized commodity derivative gain, net     (497 )     (1,829 )     (14,785 )     (710 )     (58,846 )
    Allowance for credit losses     118       10       28       558       37  
    Write-off debt issuance costs                             2,330  
    Non-recurring legal and IT-related costs     860       (22 )     413       5,798       3,044  
    Non-ARO P&A costs     (2,763 )     16,627       4,137       20,925       6,246  
    Other     (1,302 )     (633 )     (240 )     (1,845 )     31  
    Tax effect of selected items (1)     753       (2,972 )     2,194       (5,192 )     9,903  
    Adjusted net loss   $ (26,193 )   $ (25,740 )   $ (8,696 )   $ (67,611 )   $ (21,657 )
                                   
    Adjusted net loss per common share:                              
    Basic   $ (0.18 )   $ (0.17 )   $ (0.06 )   $ (0.46 )   $ (0.15 )
    Diluted   $ (0.18 )   $ (0.17 )   $ (0.06 )   $ (0.46 )   $ (0.15 )
                                   
    Weighted average shares outstanding:                              
    Basic     147,365       147,206       146,578       147,133       146,483  
    Diluted     147,365       147,206       146,578       147,133       146,483  

    (1)   Selected items were tax effected with the Federal Statutory Rate of 21% for each respective period.


    W&T OFFSHORE, INC. AND SUBSIDIARIES

    Non-GAAP Information

    Adjusted EBITDA/ Free Cash Flow Reconciliations

    The Company also presents non-GAAP financial measures of Adjusted EBITDA and Free Cash Flow. The Company defines Adjusted EBITDA as net (loss) income plus net interest expense, income tax (benefit) expense, depreciation, depletion and amortization, ARO accretion, excluding the unrealized commodity derivative gain, allowance for credit losses, non-cash incentive compensation, non-recurring legal and IT-related costs, non-ARO P&A costs, and other. Company management believes this presentation is relevant and useful because it helps investors understand W&T’s operating performance and makes it easier to compare its results with those of other companies that have different financing, capital and tax structures. Adjusted EBITDA should not be considered in isolation from or as a substitute for net income, as an indication of operating performance or cash flows from operating activities or as a measure of liquidity. Adjusted EBITDA, as W&T calculates it, may not be comparable to Adjusted EBITDA measures reported by other companies. In addition, Adjusted EBITDA does not represent funds available for discretionary use.

    The Company defines Free Cash Flow as Adjusted EBITDA (defined above), less capital expenditures, P&A costs and net interest expense (all on an accrual basis). For this purpose, the Company’s definition of capital expenditures includes costs incurred related to oil and natural gas properties (such as drilling and infrastructure costs and the lease maintenance costs) and equipment but excludes acquisition costs of oil and gas properties from third parties that are not included in the Company’s capital expenditures guidance provided to investors. Company management believes that Free Cash Flow is an important financial performance measure for use in evaluating the performance and efficiency of its current operating activities after the impact of accrued capital expenditures, P&A costs and net interest expense and without being impacted by items such as changes associated with working capital, which can vary substantially from one period to another. There is no commonly accepted definition of Free Cash Flow within the industry. Accordingly, Free Cash Flow, as defined and calculated by the Company, may not be comparable to Free Cash Flow or other similarly named non-GAAP measures reported by other companies. While the Company includes net interest expense in the calculation of Free Cash Flow, other mandatory debt service requirements of future payments of principal at maturity (if such debt is not refinanced) are excluded from the calculation of Free Cash Flow. These and other non-discretionary expenditures that are not deducted from Free Cash Flow would reduce cash available for other uses.

    The following table presents a reconciliation of the Company’s net (loss) income, a GAAP measure, to Adjusted EBITDA and Free Cash Flow, as such terms are defined by the Company:

                                   
        Three Months Ended    
        December 31,      September 30,    December 31,   Year Ended December 31, 
        2024       2024     2023     2024     2023  
        (in thousands)
        (Unaudited)
    Net (loss) income   $ (23,362 )   $ (36,921 )   $ (443 )   $ (87,145 )   $ 15,598  
    Interest expense, net     10,226       9,992       9,729       40,454       44,689  
    Income tax (benefit) expense     (1,849 )     (4,545 )     1,932       (9,985 )     18,345  
    Depreciation, depletion and amortization     38,208       34,206       33,658       143,025       114,677  
    Asset retirement obligations accretion     8,157       7,848       7,377       32,374       29,018  
    Unrealized commodity derivative gain, net     (497 )     (1,829 )     (14,785 )     (710 )     (58,846 )
    Allowance for credit losses     118       10       28       558       37  
    Non-cash incentive compensation     3,818       1,956       3,124       10,192       10,383  
    Non-recurring legal and IT-related costs     860       (22 )     413       5,798       3,044  
    Non-ARO P&A costs     (2,763 )     16,627       4,137       20,925       6,246  
    Other     (1,302 )     (633 )     (240 )     (1,845 )     31  
    Adjusted EBITDA   $ 31,614     $ 26,689     $ 44,930     $ 153,641     $ 183,222  
                                   
    Capital expenditures, accrual basis (1)   $ (12,228 )   $ (4,461 )   $ (10,319 )   $ (28,626 )   $ (41,278 )
    Asset retirement obligation settlements     (19,348 )     (8,347 )     (9,052 )     (39,692 )     (33,970 )
    Interest expense, net     (10,226 )     (9,992 )     (9,729 )     (40,454 )     (44,689 )
    Free Cash Flow   $ (10,188 )   $ 3,889     $ 15,830     $ 44,869     $ 63,285  

    (1) A reconciliation of the adjustment used to calculate Free Cash Flow to the Condensed Consolidated Financial Statements is included below:

                                   
    Capital expenditures, accrual basis reconciliation                              
    Investment in oil and natural gas properties and equipment   $ (14,124 )   $ (9,577 )   $ (12,139 )   $ (37,357 )   $ (41,813 )
    Less: acquisition related expenditures included in investment in oil and natural gas properties and equipment           (4,929 )           (4,929 )      
    Less: changes in operating assets and liabilities associated with investing activities     (1,896 )     (187 )     (1,820 )     (3,802 )     (535 )
    Capital expenditures, accrual basis   $ (12,228 )   $ (4,461 )   $ (10,319 )   $ (28,626 )   $ (41,278 )

    The following table presents a reconciliation of cash flow from operating activities, a GAAP measure, to Free Cash Flow, as defined by the Company:

                                   
        Three Months Ended    
        December 31,    September 30,    December 31,   Year Ended December 31, 
        2024     2024     2023     2024     2023  
        (in thousands)
        (Unaudited)
    Net cash (used in) provided by operating activities   $ (4,317 )   $ 14,768     $ 35,664     $ 59,539     $ 115,326  
    Allowance for credit losses     118       10       28       558       37  
    Amortization of debt items and other items     (1,117 )     (1,109 )     (1,266 )     (4,562 )     (6,980 )
    Non-recurring legal and IT-related costs     860       (22 )     413       5,798       3,044  
    Current tax (benefit) expense (1)     92             (1,906 )     92       (140 )
    Change in derivatives (payable) receivable (1)     (972 )     162       1,223       (1,648 )     4,845  
    Non-ARO P&A costs     (2,763 )     16,627       4,137       20,925       6,246  
    Changes in operating assets and liabilities, excluding asset retirement obligation settlements     11,441       (21,453 )     (11,904 )     (5,362 )     (17,846 )
    Capital expenditures, accrual basis     (12,228 )     (4,461 )     (10,319 )     (28,626 )     (41,278 )
    Other     (1,302 )     (633 )     (240 )     (1,845 )     31  
    Free Cash Flow   $ (10,188 )   $ 3,889     $ 15,830     $ 44,869     $ 63,285  

    (1) A reconciliation of the adjustments used to calculate Free Cash Flow to the Condensed Consolidated Financial Statements is included below:

                                   
    Current tax (benefit) expense:                              
    Income tax (benefit) expense   $ (1,849 )   $ (4,545 )   $ 1,932     $ (9,985 )   $ 18,345  
    Less: Deferred income (benefit) taxes     (1,941 )     (4,545 )     3,838       (10,077 )     18,485  
    Current tax (benefit) expense   $ 92     $     $ (1,906 )   $ 92     $ (140 )
                                   
    Changes in derivatives receivable (payable)                              
    Derivatives (payable) receivable, end of period   $ (1,377 )   $ (405 )   $ 271     $ (1,377 )   $ 271  
    Derivatives payable (receivable), beginning of period     405       567       952       (271 )     4,574  
    Change in derivatives (payable) receivable   $ (972 )   $ 162     $ 1,223     $ (1,648 )   $ 4,845  


    W&T OFFSHORE, INC. AND SUBSIDIARIES

    Non-GAAP Information

    Reconciliation of PV-10 to Standardized Measure

    The Company also discloses PV-10, which is not a financial measure defined under GAAP. The standardized measure of discounted future net cash flows is the most directly comparable GAAP financial measure for proved reserves calculated using SEC pricing. Company management believes that the non-GAAP financial measure of PV-10 is relevant and useful for evaluating the relative monetary significance of oil and natural gas properties. PV-10 is also used internally when assessing the potential return on investment related to oil and natural gas properties and in evaluating acquisition opportunities. Company management believes that the use of PV-10 is valuable because there are many unique factors that can impact an individual company when estimating the amount of future income taxes to be paid. Additionally, Company management believes that the presentation of PV-10 provides useful information to investors because it is widely used by professional analysts and sophisticated investors in evaluating oil and natural gas companies. PV-10 is not a measure of financial or operating performance under GAAP, nor is it intended to represent the current market value of the Company’s estimated oil and natural gas reserves. PV-10 should not be considered in isolation or as substitutes for the standardized measure of discounted future net cash flows as defined under GAAP. Investors should not assume that PV-10 of the Company’s proved oil and natural gas reserves represents a current market value of the Company’s estimated oil and natural gas reserves.

    The following table presents a reconciliation of the standardized measure of discounted future net cash flows relating to the Company’s estimated proved oil and natural gas reserves, a GAAP measure, to PV-10, as defined by the Company.

                 
           December 31, 
        2024     2023  
    PV-10   $ 1,229.5     $ 1,080.9  
    Future income taxes, discounted at 10%     (154.8 )     (151.0 )
    PV-10 before ARO     1,074.7       929.9  
    Present value of estimated ARO, discounted at 10%     (334.6 )     (246.7 )
    Standardized measure   $ 740.1     $ 683.2  
         
    CONTACT: Al Petrie Sameer Parasnis
      Investor Relations Coordinator Executive VP and CFO
      investorrelations@wtoffshore.com sparasnis@wtoffshore.com
      713-297-8024 713-513-8654

    Source: W&T Offshore, Inc.

    MIL OSI Economics

  • MIL-OSI: VAALCO Schedules Fourth Quarter and Full Year 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 03, 2025 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) today announced the timing of its fourth quarter and full year 2024 earnings release and conference call.

    The Company will issue its fourth quarter 2024 and full year earnings release on Thursday, March 13, 2025 after the close of trading on the New York Stock Exchange and host a conference call to discuss its financial and operational results on Friday morning, March 14, 2025 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time and 4:00 p.m. London Time.)

    Interested parties in the United States may participate toll-free by dialing (833) 685-0907. Interested parties in the United Kingdom may participate toll-free by dialing 08082389064. Other international parties may dial (412) 317-5741. Participants should ask to be joined to the “Vaalco Energy Earnings Conference Call.” This call will also be webcast on VAALCO’s website at www.vaalco.com. An audio replay will be available on the Company’s website following the call.

    About Vaalco

    Vaalco, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Côte d’Ivoire, Equatorial Guinea, Nigeria and Canada.

    For Further Information

       
    Vaalco Energy, Inc. (General and Investor Enquiries) +00 1 713 543 3422
    Website: www.vaalco.com
       
    Al Petrie Advisors (US Investor Relations) +00 1 713 543 3422
    Al Petrie / Chris Delange  
       
    Buchanan (UK Financial PR) +44 (0) 207 466 5000
    Ben Romney / Barry Archer Vaalco@buchanan.uk.com
       

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