Category: Energy

  • MIL-OSI Video: Open Forum: Powering Progress | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    Nearly 1 billion people live without electricity, while others suffer from its production. Energy access is a crucial enabler for economic growth, social development and environmental sustainability.

    How can the energy transition be leveraged to overcome these obstacles and ensure equitable energy access for all?

    Speakers: Stefanie Ólives, Ipeleng Selele, John Defterios, Joyeeta Gupta, Johanna Hoffman, Gill Scheltjens

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
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    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=JI3JRitkubo

    MIL OSI Video

  • MIL-OSI USA: Pipeline companies deliver most of the U.S. electric power sector’s natural gas

    Source: US Energy Information Administration

    In-brief analysis

    February 26, 2025


    According to our Natural Gas Annual Respondent Query System, 1,653 natural gas delivery companies delivered natural gas to end-use customers in 2023 in the United States. A delivery company is defined as any entity that delivers natural gas directly to end users. Natural gas deliveries by pipeline companies to the electric power sector made up the largest share of deliveries to end-use consumers, accounting for 33% of all natural gas delivered to end-use consumers in 2023.

    Pipeline companies generally deliver large volumes of natural gas to high-volume end users, accounting for most of the deliveries to industrial facilities and electric power plants. The electric power sector and industrial sector are the largest and second-largest consuming sectors, respectively. Pipeline companies delivered 75%, or 27.1 billion cubic feet per day (Bcf/d), of the natural gas used to generate electric power in the United States, and 51%, or 11.9 Bcf/d, of the natural gas used in the industrial sector in 2023.

    Conversely, local distribution companies (LDCs) are the primary providers of natural gas to homes and businesses, delivering 94% (20.3 Bcf/d) of end-use natural gas to the residential and commercial sectors. LDCs often operate networks of small pipelines that connect to homes and businesses; however, they are distinct from pipeline companies, which operate wide-diameter, high-pressure pipelines that transport large volumes of natural gas to predominantly industrial and electric facilities. Natural gas distributors operated by municipalities, referred to here as municipals, are the most common type of natural gas distributor in the United States, but they deliver relatively small volumes of end-use natural gas, accounting for only 4% of all end use.

    Natural gas consumption to generate U.S. electric power has increased significantly in recent years. Warmer weather has increased the demand for electricity for space cooling in the summer, increasing natural gas use by electricity providers. Low natural gas prices and improving efficiency from combined-cycle plants have also contributed to increased natural gas-fired power generation. As natural gas consumption in the electric power sector has increased, natural gas deliveries via pipeline companies to electric power plants have also increased, rising by 17% (3.9 Bcf/d) since 2018 and accounting for 75% of the total increase in deliveries to the electric power sector between 2018 and 2023. Pipeline companies do not typically sell natural gas to end users, but instead they deliver the natural gas on behalf of the end user in exchange for a transportation fee.

    LDCs deliver most of the natural gas consumed in the U.S. residential and commercial sectors. However, nearly half of their deliveries (47%, or 15.2 Bcf/d) go to the industrial and electric power sectors. LDCs are typically regulated by state public utility commissions, which ensure that the LDCs maintain reliability of service and stable prices for customers. LDCs receive natural gas from a pipeline near their service area and then transport it through their own network to end users.

    LDCs with interstate pipelines, the least common type of distributor, deliver the most natural gas to end users per facility, at an average of 0.5 Bcf/d per facility. An LDC with interstate pipelines can have a large distribution area that sometimes spans several states and may serve millions of customers in a region.

    Municipals typically serve one specific city or town and, as a result, deliver comparatively small volumes of natural gas to end users, averaging less than 3 Bcf/d of deliveries in 2023. Despite delivering relatively small volumes of natural gas, municipals accounted for more than half of all delivery companies, numbering 886 in 2023.

    More information on company-level data on natural gas distributors is available in EIA’s Natural Gas Annual Respondent Query System.

    Principal contributors: Mike Kopalek, Grace Wheaton

    MIL OSI USA News

  • MIL-OSI USA: Influence of Technology, Science Shapes Latest Show at Contemporary Art Galleries

    Source: US State of Connecticut

    While it’s true John Simon Jr. has a daily drawing practice, one he describes as meditative not just for clarity but also creativity, the artist might be best known for the digital art he’s produced, pieces sold in cyberspace and displayed on LED screens instead of canvas in places like the Whitney and Guggenheim.

    Among the first pieces of art sold as NFTs came from Simon, the 1997 work he titled “Every Icon,” because, as the squares in a grid of 32 by 32 change from black to white in a pattern shift that will take trillions of years to cycle through, the full image eventually will form the outline of any and all familiar pictures.

    Simon also is known for other pieces like “ComplexCity,” a series of digital works in which the street grid, traffic pattern, and height of skyscrapers continually shape shift, a representation of the constant change of a city.

    But Simon might not be as well known for his undergraduate degree in geology, his master’s in earth and planetary science, and an MFA in computer art.

    Artist John F. Simon Jr.’s “Traffic Jam” is part of “ComplexCity,” a digital work that explores contemporary urbanism through animated visual outputs containing abstract elevators, clogged intersections, and other interactive and dynamic forms. It hangs as part of the exhibition, “Data Infused,” at the Contemporary Art Galleries in UConn’s Fine Arts Complex. (Contributed photo)

    The place between art and science, that’s where early in his career Simon says he thought he’d be – “where art and science would kind of meld, where you’d see some sculpture, a painting, and things that are kind of like art done with a scientific concept that’s output in an artistic way.

    “But that was never deeply satisfying enough for me,” he says, “and I felt eventually that the categorization of science and art, this kind of academic categorization, was made to separate the two. My approach [now] is creativity.”

    And that’s something both scientists and artists must have in abundant supply.

    “If we look back to the Renaissance period especially, science and art weren’t as separate as they are now,” says Wendy Wischer, visiting director of UConn’s Contemporary Art Galleries, where a reimagined version of Simon’s “ComplexCity” is on display as part of the exhibition, “Data Infused.”

    “Artists and scientists do the same thing,” she says, summarizing a sentiment from writer K.C. Cole. “They start by observation and then recognize patterns that are often overlooked by others. That kind of imagination, seeking out of patterns, connecting threads of what may initially seem like separate entities is one of the things that artists and scientists do all the time.”

    “Data Infused” is Wischer’s first curation at the Galleries, after coming to UConn in the fall. In it, she’s included works from artists like Simon who’ve each studied subjects including computer science, architecture, graphic design, and artificial intelligence, all of which have influenced their creative outputs.

    Take Nettrice Gaskins, for instance, whose piece “Afro-Generative Tableaux Variations” uses AI to remix the colorful swirls that dance around the side profile of a Black woman who remains stationary in the center.

    “Variations,” Wischer explains, shows how AI moves through the variations of color and shape to help an artist, or an observer as in this case, assess the infinite options. Gaskins made the piece specifically for this show to give people a look at how AI aids in art making.

    Richard Garet used bits of sound in his two pieces, “Perceptual; Star” and “Perceptual; Glowing Wedge,” to create images of pulsing colors, then stripped away the auditory component, leaving only the moving image.

    The act of using what many would call scientific data for such artistic inspiration is what links the pieces, Wischer says, along with the fact that all the artists, as with Simon, maintain a traditional art practice that includes drawing and painting despite producing work that hinges on technology.

    That’s something, she says, that UConn graduate students asked for when she surveyed them about what they’d like to see in the gallery. AI, data visualization, and Afrofuturism topped the list. They also wanted to see novel ways artists make art and viewers consume it, such as those pieces sold as NFTs, or non-fungible tokens that live on the blockchain.

    “Scientists are great at data visualization. But their role is to be removed from any kind of emotional or personal attachment,” Wischer says about the art-science connection. “Artists can come in and ask questions without having an answer. Art can provoke emotions. It can link personal experience with the scientific in a way that makes it more digestible.”

    Ira Greenburg – whose “CyberStructures” depicts a bird’s eye view of a computer’s architecture, its chips and cards and CPU rising and falling like the towers and low-rises of a city – not only writes the computer code needed to generate his work but uses AI to influence it as he processes the thousands of iterations technology provides.

    Wischer says all the artists in the show are at the forefront of using technology like AI in the development of their work. It’s one reason she hopes people from other departments at UConn outside Art and Art History visit the show.

    “I’m hoping there’s something for everyone and that it evokes a curiosity to learn more,” she says. “Whether someone is attracted to the digital and they find something new in the physical, or someone who is attracted to the physical finds something in the digital, one of my goals was to bring together these various communities.”

    And she means that literally.

    She’s arranged a series of artist talks to be held throughout the semester, starting with Simon in late January who drew about two dozen people to the Galleries for the show’s opening.

    Garet will visit Feb. 27, Gaskins on March 13, and Courtney Starrett and Susan Reiser wrap the series on April 3. The full exhibition closes April 25.

    Artist Ira Greenburg used creative coding and artificial intelligence to create “Cyberstructures,” a piece that considers computer architecture as a landscape. It hangs as part of the exhibition, “Data Infused,” at the Contemporary Art Galleries in UConn’s Fine Arts Complex. (Contributed photo)

    “I see the Contemporary Art Galleries as a place to bring together different ideas and be a little more experimental than it has in the past,” Wischer says. “This exhibition is a very traditional, polished exhibition. But we might have a rotating schedule that allows for a variety of experimentation that moves away from just a traditional gallery space.”

    That may include becoming home for the annual BFA show or serving as a place for graduate students to practice their own curation skills. It might be possible to host a show that coordinates with a specific class or have a visiting artist use the space as their workshop, in a sort of messy exhibition that gets revealed over time, she suggests.

    Though not all future shows will emphasize the use of technology as strongly as “Data Infused,” this semester the focus is on its influence.

    “We know that data doesn’t move people. Facts don’t move people, but there are other ways that people can be moved. Artwork is a way that somebody can enter at a more personal level and discover why this is important to them or the meaning behind it,” Wischer says.

    MIL OSI USA News

  • MIL-OSI: Diamond Equity Research Initiates Coverage on ConnectM Technology Solutions, Inc. (NASDAQ: CNTM)

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, Feb. 26, 2025 (GLOBE NEWSWIRE) — Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has initiated coverage of ConnectM Technology Solutions, Inc. (NASDAQ: CNTM). The in-depth 32-page initiation report includes detailed information on the ConnectM Technology Solutions’ business model, services, industry overview, financials, valuation, management profile, and risks.

    The full research report is available below.

    ConnectM Technologies Inc. Initiation Report

    Highlights from the report include:            

                                      
    •    Diversified Innovative AI-Powered Platform Driving Scalable and Recurring Revenue Streams: At the core of ConnectM’s strategy lies its proprietary Energy Intelligence Network (EIN), which integrates AI-powered heat pumps, EV solutions, and distributed energy systems. The platform enables efficient cross-selling across diverse verticals, thereby enhancing customer lifetime value and lowering acquisition costs. This results in predictable, high-margin revenue streams derived from product sales, software subscriptions, and managed services agreements.

    •    Pioneering Leadership in the $2 Trillion Electrification Transformation: ConnectM is strategically positioned at the forefront of the global shift from fossil fuels to renewable energy, tapping into a $2 trillion electrification market. Its early mover advantage is strengthened by a robust 10-patent IP portfolio and over 120,000 connected assets that drive powerful network effects and data intelligence. This pioneering stance not only differentiates ConnectM but also establishes a solid foundation for sustainable long-term growth.

    •    Robust, Vertically Integrated Business Model Fueling Consistent High Growth: ConnectM has achieved 20 consecutive quarters of revenue growth, with a current run rate projected at $26 million and break-even cash flow expected by 2025. Its vertically integrated approach, encompassing product design, AI technology, and owned service networks, minimizes dependence on third-party providers. Moreover, a shared revenue model with service partners further amplifies potential profitability while mitigating operational risks.

    •    Strategic Acquisitions Accelerating Synergistic Market Expansion: The company has strategically augmented its market presence through targeted acquisitions, including MHz Invensys, projected to contribute $15 million in revenue by 2027. Additional acquisitions, such as DeliveryCircle and Green Energy Gains, have significantly strengthened its foothold in last-mile logistics and building electrification. This well-defined M&A pipeline is potentially set to unlock further synergistic growth opportunities across the smart energy solutions landscape.

    •    Solid Financial Foundations Supported by Strong Institutional Backing: ConnectM benefits from robust institutional support, with shareholders as of recent filings including Cowen, Geode Capital, Polar Asset, and Jane Street, while insiders hold a significant 33% stake. The company’s de-leveraged balance sheet, achieved by a recent conversion of $13.7 million in debt to equity, reinforces its financial resilience. Furthermore, the secured $25 million in strategic financing positions ConnectM for continued expansion and technological innovation.

    •    Capturing Exponential Growth Prospects Amid Robust Market Tailwinds: The electrification of buildings, transportation, and distributed energy systems is still in its early stages, offering substantial exponential growth potential. AI-powered heat pumps, a key component of the EIN, represent an opportunity comparable to the EV market but with superior potential margins of 30–40% and lower competition. These favorable market tailwinds are expected to drive sustained demand and accelerate ConnectM’s expansion trajectory.

    •    Valuation: ConnectM is targeting the $2 trillion energy transition with its AI-powered Energy Intelligence Network (EIN), optimizing electrification, distributed energy networks, and smart mobility. Its platform-driven strategy positions it for accelerated growth, operational efficiency, and sustained profitability. We have assessed ConnectM’s valuation using a blended approach, incorporating discounted cash flow (DCF) and comparable company analyses. Under our DCF approach, we assumed a 12.5% discount rate and a terminal growth rate of 1.5% to estimate the present value of projected free cash flows. For the comparable company analysis, we utilized the EV/Revenue multiple of similar renewable energy products and technology companies to establish a market-based valuation benchmark. By integrating both these approaches, we have arrived at a valuation of $3.25 per share contingent on successful execution by the company.

    About ConnectM Technology Solutions, Inc.  

    ConnectM Technology Solutions, Inc. is a vertically integrated holding company based in Marlborough, MA that provides digital platforms and services for electrification and decarbonization across the U.S., offering solutions for solar energy, HVAC, EV integration, and smart energy management.  

    About Diamond Equity Research

    Diamond Equity Research is a leading equity research and corporate access firm focused on small capitalization companies. Diamond Equity Research is an approved sell-side provider on major institutional investor platforms.

    For more information, visit https://www.diamondequityresearch.com

    Disclosures:

    Diamond Equity Research LLC is being compensated by ConnectM Technology Solutions, Inc. for producing research materials regarding ConnectM Technology Solutions, Inc. and its securities, which is meant to subsidize the high cost of creating the report and monitoring the security, however the views in the report reflect that of Diamond Equity Research. All payments are received upfront and are billed for research engagement. As of 02/26/25 the issuer had paid us $17,500 (as part of $35,000 annual contract payable in three upfront installment payments for the first year of coverage), which commenced on 01/30/25 with the second and third installment of $8,750 due in the following two three-months period. Diamond Equity Research LLC may be compensated for non-research related services, including presenting at Diamond Equity Research investment conferences, press releases and other additional services. The non-research related service cost is dependent on the company, but usually does not exceed $5,000. The issuer has not paid us for non-research related services as of 02/26/2025. Issuers are not required to engage us for these additional services. Additional fees may have accrued since then. Although Diamond Equity Research company sponsored reports are based on publicly available information and although no investment recommendations are made within our company sponsored research reports, given the small capitalization nature of the companies we cover we have adopted an internal trading procedure around the public companies by whom we are engaged, with investors able to find such policy on our website public disclosures page. This report and press release do not consider individual circumstances and does not take into consideration individual investor preferences. Statements within this report may constitute forward-looking statements, these statements involve many risk factors and general uncertainties around the business, industry, and macroeconomic environment. Investors need to be aware of the high degree of risk in small capitalization equities including the complete loss of their investment. Investors can find various risk factors in the initiation report and in the respective financial filings for ConnectM Technology Solutions, Inc. Please review initiation report attached for full disclosure page.  

    Attachment

    The MIL Network

  • MIL-OSI United Kingdom: TUV welcome joint venture between the IFA Galgorm Resort

    Source: Traditional Unionist Voice – Northern Ireland

    TUV MP Jim Allister and MLA Timothy Gaston have today tabled parallel motions in the House of Commons and the Assembly welcoming the joint venture between the IFA and Galgorm Resort.

    The Assembly version of the motion tabled by Mr Gaston reads:

    “That this Assembly welcomes the joint venture between the Irish Football Association and Galgorm Resort, whereby a state of the art training facility will be provided for the Northern Ireland Football Teams, at Galgorm Co Antrim; notes that this project will fill a long existing void in national football provision and preparation, as well as affording community use and involvement; commends the commitment, foresight and dedication of all involved in promoting this project; and encourages the Executive to play its part in bringing the proposal to fruition.”

    Commenting on the venture TUV leader Jim Allister said:

    “The news of a national training centre for the Northern Ireland Football Teams, men and women, is both exciting and very welcome. The fact it is coming to Galgorm, here in North Antrim, is the icing on the cake.

    “This project will fill a long existing void in national football provision and preparation, as well as affording community use and involvement. The commitment, foresight and dedication of all involved in promoting this project is commended and Government is encouraged to play its part in bringing the proposal to fruition.

    “The fact that our national team had no where suitable to train within Northern Ireland has long been a substantial drawback. Now, allied to the premier hotel at Galgorm Resort, this state of the art provision will be a facility of which all can be proud.

    “When I was briefed on this project a few weeks ago, I was naturally delighted it was coming to North Antrim. I am disappointed I cannot be at the official launch today, but it clashes with NI Questions at Westminster.

    “I have already spoken to the Secretary of State about the need for the government to get behind this wonderful opportunity.”

    MIL OSI United Kingdom

  • MIL-OSI: DT Midstream Reports Record 2024 Results; Raises Dividend and 2025 Adjusted EBITDA Guidance

    Source: GlobeNewswire (MIL-OSI)

    • Full year 2024 Adjusted EBITDA of $969 million
    • Increased dividend by 12%
    • Increased 2025 Adjusted EBITDA guidance
    • Announced new agreements to serve utility-scale power generation projects

    DETROIT, Feb. 26, 2025 (GLOBE NEWSWIRE) — DT Midstream, Inc. (NYSE: DTM) today announced fourth quarter 2024 reported net income of $73 million, or $0.73 per diluted share. For the fourth quarter of 2024, Operating Earnings were $94 million, or $0.94 per diluted share. Adjusted EBITDA for the quarter was $235 million.

    Full year 2024 reported net income was $354 million, or $3.60 per diluted share. For full year 2024, Operating Earnings were $375 million, or $3.81 per diluted share. Adjusted EBITDA for the year was $969 million.

    Reconciliations of Operating Earnings and Adjusted EBITDA (non-GAAP measures) to reported net income are included at the end of this news release.

    “As a result of a great team effort, we delivered record results in 2024, exceeding our increased guidance. I want to thank each employee for their contribution,” said David Slater, President and CEO. “We successfully closed on the largest acquisition in our history last year and completed key organic growth projects ahead of schedule and on budget. We are very well positioned to serve growing demand across our footprint and continue our track record of premium, high-quality growth.”

    Slater noted the following significant business updates:

    • Increased 2025 Adjusted EBITDA guidance range to $1.095 to $1.155 billion, an 18% increase over 2024 original guidance
    • Increased dividend by 12% from fourth quarter 2024 to $0.82 per share, to be paid on April 15, 2025 to stockholders of record on March 17, 2025
    • Executed agreements for two new projects that will serve utility-scale power generation
    • Provided 2026 Adjusted EBITDA early outlook range of $1.155 to $1.225 billion, representing 6% annual growth from 2025

    “Our strong financial results for 2024, along with our increased organic project backlog, expanded asset footprint, and flexible balance sheet give us high confidence in meeting our goals for this year and beyond,” said Jeff Jewell, Executive Vice President and CFO.

    The company has scheduled a conference call to discuss results for 9:00 a.m. ET (8:00 a.m. CT) today. Investors, the news media and the public may listen to a live internet broadcast of the call at this link. The participant toll-free telephone dial-in number in the U.S. and Canada is 888.596.4144, and the toll number is 646.968.2525; the passcode is 9645886. International access numbers are available here. The webcast will be archived on the DT Midstream website at investor.dtmidstream.com.

    About DT Midstream

    DT Midstream (NYSE: DTM) is an owner, operator and developer of natural gas interstate and intrastate pipelines, storage and gathering systems, compression, treatment and surface facilities. The company transports clean natural gas for utilities, power plants, marketers, large industrial customers and energy producers across the Southern, Northeastern and Midwestern United States and Canada. The Detroit-based company offers a comprehensive, wellhead-to-market array of services, including natural gas transportation, storage and gathering. DT Midstream is transitioning towards net zero greenhouse gas emissions by 2050, including a plan of achieving 30% of its carbon emissions reduction by 2030. For more information, please visit the DT Midstream website at www.dtmidstream.com.

    Why DT Midstream Uses Operating Earnings, Adjusted EBITDA and Distributable Cash Flow

    Use of Operating Earnings Information – Operating Earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. DT Midstream management believes that Operating Earnings provide a more meaningful representation of the company’s earnings from ongoing operations and uses Operating Earnings as the primary performance measurement for external communications with analysts and investors. Internally, DT Midstream uses Operating Earnings to measure performance against budget and to report to the Board of Directors.

    Adjusted EBITDA is defined as GAAP net income attributable to DT Midstream before expenses for interest, taxes, depreciation and amortization, and loss from financing activities, further adjusted to include the proportional share of net income from equity method investees (excluding interest, taxes, depreciation and amortization), and to exclude certain items the company considers non-routine. DT Midstream believes Adjusted EBITDA is useful to the company and external users of DT Midstream’s financial statements in understanding operating results and the ongoing performance of the underlying business because it allows management and investors to have a better understanding of actual operating performance unaffected by the impact of interest, taxes, depreciation, amortization and non-routine charges noted in the table below. We believe the presentation of Adjusted EBITDA is meaningful to investors because it is frequently used by analysts, investors and other interested parties in the midstream industry to evaluate a company’s operating performance without regard to items excluded from the calculation of such measure, which can vary substantially from company to company depending on accounting methods, book value of assets, capital structure and the method by which assets were acquired, among other factors. DT Midstream uses Adjusted EBITDA to assess the company’s performance by reportable segment and as a basis for strategic planning and forecasting.

    Distributable Cash Flow (DCF) is calculated by deducting earnings from equity method investees, depreciation and amortization attributable to noncontrolling interests, cash interest expense, maintenance capital investment (as defined below), and cash taxes from, and adding interest expense, income tax expense, depreciation and amortization, certain items we consider non-routine and dividends and distributions from equity method investees to, Net Income Attributable to DT Midstream. Maintenance capital investment is defined as the total capital expenditures used to maintain or preserve assets or fulfill contractual obligations that do not generate incremental earnings. We believe DCF is a meaningful performance measurement because it is useful to us and external users of our financial statements in estimating the ability of our assets to generate cash earnings after servicing our debt, paying cash taxes and making maintenance capital investments, which could be used for discretionary purposes such as common stock dividends, retirement of debt or expansion capital expenditures.

    In this release, DT Midstream provides 2025 and 2026 Adjusted EBITDA guidance. The reconciliation of net income to Adjusted EBITDA as projected for full-year 2025 and 2026 is not provided. DT Midstream does not forecast net income as it cannot, without unreasonable efforts, estimate or predict with certainty the components of net income. These components, net of tax, may include, but are not limited to, impairments of assets and other charges, divestiture costs, acquisition costs, or changes in accounting principles. All of these components could significantly impact such financial measures. At this time, DT Midstream is not able to estimate the aggregate impact, if any, of these items on future period reported earnings. Accordingly, DT Midstream is not able to provide a corresponding GAAP equivalent for Adjusted EBITDA.

    Forward-looking Statements

    This release contains statements which, to the extent they are not statements of historical or present fact, constitute “forward-looking statements” under the securities laws. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, business prospects, outcomes of regulatory proceedings, market conditions, and other matters, based on what we believe to be reasonable assumptions and on information currently available to us.

    Forward-looking statements can be identified by the use of words such as “believe,” “expect,” “expectations,” “plans,” “strategy,” “prospects,” “estimate,” “project,” “target,” “anticipate,” “will,” “should,” “see,” “guidance,” “outlook,” “confident” and other words of similar meaning. The absence of such words, expressions or statements, however, does not mean that the statements are not forward-looking. In particular, express or implied statements relating to future earnings, cash flow, results of operations, uses of cash, tax rates and other measures of financial performance, future actions, conditions or events, potential future plans, strategies or transactions of DT Midstream, and other statements that are not historical facts, are forward-looking statements.

    Forward-looking statements are not guarantees of future results and conditions, but rather are subject to numerous assumptions, risks, and uncertainties that may cause actual future results to be materially different from those contemplated, projected, estimated, or budgeted. Many factors may impact forward-looking statements of DT Midstream including, but not limited to, the following: changes in general economic conditions, including increases in interest rates and associated Federal Reserve policies, a potential economic recession, and the impact of inflation on our business; industry changes, including the impact of consolidations, alternative energy sources, technological advances, infrastructure constraints and changes in competition; changes in global trade policies and tariffs; global supply chain disruptions; actions taken by third-party operators, producers, processors, transporters and gatherers; changes in expected production from Expand Energy and other third parties in our areas of operation; demand for natural gas gathering, transmission, storage, transportation and water services; the availability and price of natural gas to the consumer compared to the price of alternative and competing fuels; our ability to successfully and timely implement our business plan; our ability to complete organic growth projects on time and on budget; our ability to finance, complete, or successfully integrate acquisitions; our ability to realize the anticipated benefits of the Midwest Pipeline Acquisition and our ability to manage the risks of the Midwest Pipeline Acquisition; the price and availability of debt and equity financing; restrictions in our existing and any future credit facilities and indentures; the effectiveness of our information technology and operational technology systems and practices to detect and defend against evolving cyber attacks on United States critical infrastructure; changing laws regarding cybersecurity and data privacy, and any cybersecurity threat or event; operating hazards, environmental risks, and other risks incidental to gathering, storing and transporting natural gas; geologic and reservoir risks and considerations; natural disasters, adverse weather conditions, casualty losses and other matters beyond our control; the impact of outbreaks of illnesses, epidemics and pandemics, and any related economic effects; the impacts of geopolitical events, including the conflicts in Ukraine and the Middle East; labor relations and markets, including the ability to attract, hire and retain key employee and contract personnel; large customer defaults; changes in tax status, as well as changes in tax rates and regulations; the effects and associated cost of compliance with existing and future laws and governmental regulations, such as the Inflation Reduction Act; changes in environmental laws, regulations or enforcement policies, including laws and regulations relating to pipeline safety, climate change and greenhouse gas emissions; changes in laws and regulations or enforcement policies, including those relating to construction and operation of new interstate gas pipelines, ratemaking to which our pipelines may be subject, or other non-environmental laws and regulations; ability to develop low carbon business opportunities and deploy greenhouse gas reducing technologies; changes in insurance markets impacting costs and the level and types of coverage available; the timing and extent of changes in commodity prices; the success of our risk management strategies; the suspension, reduction or termination of our customers’ obligations under our commercial agreements; disruptions due to equipment interruption or failure at our facilities, or third-party facilities on which our business is dependent; the effects of future litigation; and the risks described in our Annual Report on Form 10-K for the year ended December 31, 2024 and our reports and registration statements filed from time to time with the SEC.

    The above list of factors is not exhaustive. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause actual results to vary materially from those stated in forward-looking statements, see the discussion under the section entitled “Risk Factors” in our Annual Report for the year ended December 31, 2024, filed with the SEC on Form 10-K and any other reports filed with the SEC. Given the uncertainties and risk factors that could cause our actual results to differ materially from those contained in any forward-looking statement, you should not put undue reliance on any forward-looking statements.

    Any forward-looking statements speak only as of the date on which such statements are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise.

                                       
    DT Midstream, Inc.
    Reconciliation of Reported to Operating Earnings (non-GAAP, unaudited)
          Three Months Ended
          December 31,   September 30,
            2024     2024
          Reported Earnings   Pre-tax Adjustments   Income Taxes (1)   Operating Earnings   Reported Earnings   Pre-tax Adjustments   Income Taxes (1)   Operating Earnings
          (millions)
      Midwest Pipeline Acquisition Tax Impact     $   $ 22   A         $   $    
      Louisiana Tax Impact           (4 ) B                  
      Bridge Facility       4 C   (1 )                    
      Net Income Attributable to DT Midstream $ 73   $ 4   $ 17     $ 94   $ 88   $   $   $ 88
                                       
          Year Ended
          December 31,   December 31,
            2024     2023
          Reported Earnings   Pre-tax Adjustments   Income Taxes (1)   Operating Earnings   Reported Earnings   Pre-tax Adjustments   Income Taxes (1)   Operating Earnings
          (millions)
      Midwest Pipeline Acquisition Tax Impact     $   $ 22   A         $   $    
      Louisiana Tax Impact           (2 ) B                  
      Bridge Facility       4 C   (1 )                    
      Net Income Attributable to DT Midstream $ 354   $ 4   $ 17     $ 375   $ 384   $   $   $ 384
                                       
    (1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments
    Adjustments Key                              
    A State tax rate increase impact to deferred income tax expense due to Midwest Pipeline Acquisition
    B State tax rate reduction impact to deferred income tax expense due to enacted tax legislation
    C Bridge Facility interest expense related to funding Midwest Pipeline Acquisition
                                       
                                       
     
    DT Midstream, Inc.
    Reconciliation of Reported to Operating Earnings per diluted share (1)(non-GAAP, unaudited)
                                       
          Three Months Ended
          December 31,   September 30,
            2024     2024
          Reported Earnings   Pre-tax Adjustments   Income Taxes (2)   Operating Earnings   Reported Earnings   Pre-tax Adjustments   Income Taxes (2)   Operating Earnings
          (per share)
      Midwest Pipeline Acquisition Tax Impact     $   $ 0.22   A         $   $    
      Louisiana Tax Impact           (0.04 ) B                  
      Bridge Facility       0.04 C   (0.01 )                    
      Net Income Attributable to DT Midstream $ 0.73   $ 0.04   $ 0.17     $ 0.94   $ 0.90   $   $   $ 0.90
                                       
                                       
          Year Ended
          December 31,   December 31,
            2024     2023
          Reported Earnings   Pre-tax Adjustments   Income Taxes (2)   Operating Earnings   Reported Earnings   Pre-tax Adjustments   Income Taxes (2)   Operating Earnings
          (per share)
      Midwest Pipeline Acquisition Tax Impact     $   $ 0.22   A         $   $    
      Louisiana Tax Impact             B                  
      Bridge Facility       0.04 C   (0.01 )                    
      Net Income Attributable to DT Midstream $ 3.60   $ 0.04   $ 0.17     $ 3.81   $ 3.94   $   $   $ 3.94
                                       
    (1) Per share amounts are divided by Weighted Average Common Shares Outstanding — Diluted, as noted on the Consolidated Statements of Operations
    (2) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments
    Adjustments Key
                                 
    A State tax rate increase impact to deferred income tax expense due to Midwest Pipeline Acquisition
    B State tax rate reduction impact to deferred income tax expense due to enacted tax legislation
    C Bridge Facility interest expense related to funding Midwest Pipeline Acquisition
                                       
                                       
     
    DT Midstream, Inc.
    Reconciliation of Net Income Attributable to DT Midstream to Adjusted EBITDA (non-GAAP, unaudited)
                     
        Three Months Ended   Year Ended
        December 31,   September 30,   December 31,   December 31,
          2024       2024       2024       2023  
    Consolidated (millions)
    Net Income Attributable to DT Midstream $ 73     $ 88     $ 354     $ 384  
    Plus: Interest expense   36       38       153       150  
    Plus: Income tax expense   43       30       137       104  
    Plus: Depreciation and amortization   53       53       209       182  
    Plus: Loss from financing activities   1       4       5        
    Plus: EBITDA from equity method investees (1)   72       70       284       286  
    Less: Interest income   (5 )     (1 )     (7 )     (1 )
    Less: Earnings from equity method investees   (37 )     (40 )     (162 )     (177 )
    Less: Depreciation and amortization attributable to noncontrolling interests   (1 )     (1 )     (4 )     (4 )
    Adjusted EBITDA $ 235     $ 241     $ 969     $ 924  
                     
    (1) Includes share of our equity method investees’ earnings before interest, taxes, depreciation and amortization, which we refer to as “EBITDA.” A reconciliation of earnings from equity method investees to EBITDA from equity method investees follows:
        Three Months Ended   Year Ended
        December 31,   September 30,   December 31,   December 31,
          2024       2024       2024       2023  
        (millions)
      Earnings from equity method investees $ 37     $ 40     $ 162     $ 177  
      Plus: Depreciation and amortization attributable to equity method investees   21       20       82       82  
      Plus: Interest expense attributable to equity method investees   14       10       40       27  
      EBITDA from equity method investees $ 72     $ 70     $ 284     $ 286  
                     
                     
                     
     
    DT Midstream, Inc.
    Reconciliation of Net Income Attributable to DT Midstream to Adjusted EBITDA
    Pipeline Segment (non-GAAP, unaudited)
                     
        Three Months Ended   Year Ended
        December 31,   September 30,   December 31,   December 31,
          2024       2024       2024       2023  
    Pipeline (millions)
    Net Income Attributable to DT Midstream $ 60     $ 71     $ 276     $ 278  
    Plus: Interest expense   10       12       47       55  
    Plus: Income tax expense   35       24       107       75  
    Plus: Depreciation and amortization   19       18       74       69  
    Plus: Loss from financing activities   1       2       3        
    Plus: EBITDA from equity method investees (1)   72       70       284       286  
    Less: Interest income   (3 )           (4 )     (1 )
    Less: Earnings from equity method investees   (37 )     (40 )     (162 )     (177 )
    Less: Depreciation and amortization attributable to noncontrolling interests   (1 )     (1 )     (4 )     (4 )
    Adjusted EBITDA $ 156     $ 156     $ 621     $ 581  
                     
    (1) Includes share of our equity method investees’ earnings before interest, taxes, depreciation and amortization, which we refer to as “EBITDA.” A reconciliation of earnings from equity method investees to EBITDA from equity method investees follows:
        Three Months Ended   Year Ended
        December 31,   September 30,   December 31,   December 31,
          2024       2024       2024       2023  
        (millions)
      Earnings from equity method investees $ 37     $ 40     $ 162     $ 177  
      Plus: Depreciation and amortization attributable to equity method investees   21       20       82       82  
      Plus: Interest expense attributable to equity method investees   14     $ 10       40       27  
      EBITDA from equity method investees $ 72     $ 70     $ 284     $ 286  
                     
                     
     
    DT Midstream, Inc.
    Reconciliation of Net Income Attributable to DT Midstream to Adjusted EBITDA
    Gathering Segment (non-GAAP, unaudited)
                     
        Three Months Ended   Year Ended
        December 31,   September 30,   December 31,   December 31,
          2024       2024       2024       2023
      Gathering (millions)
      Net Income Attributable to DT Midstream $ 13     $ 17     $ 78     $ 106
      Plus: Interest expense   26       26       106       95
      Plus: Income tax expense   8       6       30       29
      Plus: Depreciation and amortization   34       35       135       113
      Plus: Loss from financing activities         2       2      
      Less: Interest income   (2 )     (1 )     (3 )    
      Adjusted EBITDA $ 79     $ 85     $ 348     $ 343
                     
                     
                     
    DT Midstream, Inc.
    Reconciliation of Net Income Attributable to DT Midstream to Distributable Cash Flow (non-GAAP, unaudited)
                       
          Three Months Ended   Year Ended
          December 31,   September 30,   December 31,   December 31,
            2024       2024       2024       2023  
      Consolidated (millions)
      Net Income Attributable to DT Midstream $ 73     $ 88     $ 354     $ 384  
      Plus: Interest expense   36       38       153       150  
      Plus: Income tax expense   43       30       137       104  
      Plus: Depreciation and amortization   53       53       209       182  
      Plus: Loss from financing activities   1       4       5        
      Plus: Adjustments for non-routine items (1)         (416 )     (416 )     (371 )
      Less: Earnings from equity method investees   (37 )     (40 )     (162 )     (177 )
      Less: Depreciation and amortization attributable to noncontrolling interests   (1 )     (1 )     (4 )     (4 )
      Plus: Dividends and distributions from equity method investees   43       465       633       623  
      Less: Cash interest expense   (60 )     (6 )     (140 )     (140 )
      Less: Cash taxes   (5 )     (4 )     (12 )     (22 )
      Less: Maintenance capital investment (2)   (13 )     (4 )     (30 )     (29 )
      Distributable Cash Flow $ 133     $ 207     $ 727     $ 700  
                       
    (1) Distributable Cash Flow calculation excludes certain items we consider non-routine. For the year ended December 31, 2024, adjustments for non-routine items included the $416 million Millennium financing distribution. For the year ended December 31, 2023, adjustments for non-routine items included the $371 million NEXUS financing distribution.
    (2) Maintenance capital investment is defined as the total capital expenditures used to maintain or preserve assets or fulfill contractual obligations that do not generate incremental earnings.
                       
                       

    The MIL Network

  • MIL-OSI Economics: NOIA Releases Offshore Energy Innovation & Workforce Excellence Report

    Source: National Ocean Industries Association – NOIA

    Headline: NOIA Releases Offshore Energy Innovation & Workforce Excellence Report

    .49083011583″>NOIA .org
    NOIA Releases Offshore Energy Innovation & Workforce Excellence Report
    Washington, D.C. – The National Ocean Industries Association (NOIA) today released the report, “The Offshore Energy Industry’s Innovation & Workforce Excellence Report.” This comprehensive publication showcases the remarkable advancements and commitments of the offshore energy sector in innovation, environmental stewardship, and workforce development, featuring 16 case studies from NOIA member companies and other partner organizations.
    NOIA President Erik Milito said, “This report not only reflects our industry’s dynamic progress but also our commitment to smart, efficient, and responsible energy production. American offshore energy production is where innovation meets environmental responsibility, and this report, with its 16 comprehensive case studies, is a testament to that achievement. We’re not just meeting expectations—we’re surpassing them, pushing technology forward, and empowering our world-class workforce. That drive runs through every level of our industry, from the Gulf of America to the Atlantic coast and beyond, reflecting a shared commitment to excellence.”
    Case studies include:

    American Bureau of Shipping (ABS)
    Danos
    Equinor
    Exmar Offshore
    Fugro
    Kosmos
    Noble
    Ørsted
    SEACOR Marine
    Seadrill
    SLB
    Talos
    TechnipFMC
    TGS
    Valaris
    The NEED Project
    Key Highlights of the Report:
    Innovation at the Forefront: With sections like “The Future of Offshore Innovation,” the report delves into cutting-edge projects such as the 20k Projects in the Gulf of America, highlighting how the industry is pushing boundaries in ultra-deep water exploration.
    Commitment to Sustainability: The document underscores the sector’s dedication to environmental, social, and governance (ESG) principles, offering insights into carbon capture, use, and storage (CCUS), and sustainable offshore transport and operations.
    Workforce Excellence: Emphasizing diversity, inclusion, and safety, the report features case studies and initiatives from industry leaders, showcasing how companies are nurturing the next generation of energy professionals.
    Fostering Education Initiatives: NOIA’s dedication to ESG extends to educational initiatives through our long-standing partnership with the National Energy Education Development (NEED) Project. For over 25 years, this collaboration has aimed at enhancing energy education, including in the realm of offshore energy.
    Policy and Regulatory Insights: It provides an analysis of the current regulatory landscape affecting ESG reporting and investment, which is crucial for stakeholders navigating this space.
    Awards and Recognition: The report celebrates the achievements of companies like TechnipFMC, SEACOR Marine, LLOG, and SLB, who have been recognized for their exemplary practices in ESG and safety.
    NOIA encourages all stakeholders, from policymakers to industry professionals, to explore the detailed insights and case studies that highlight the sector’s leadership in innovation and workforce excellence.
    Download the full report here! 

    ##
    About NOIA The National Ocean Industries Association (NOIA) represents and advances a dynamic and growing offshore energy industry, providing solutions that support communities and protect our workers, the public and our environment.

    MIL OSI Economics

  • MIL-OSI Economics: Verizon infuses AI in the network, accelerates Open RAN innovation with multi-vendor RAN Intelligent Controller deployment

    Source: Verizon

    Headline: Verizon infuses AI in the network, accelerates Open RAN innovation with multi-vendor RAN Intelligent Controller deployment

    NEW YORK – Verizon, in collaboration with Samsung Electronics Co., Ltd. and Qualcomm Technologies, Inc., has successfully deployed multi-vendor RAN Intelligent Controller (RIC) functionality in its commercial network. This deployment marks a significant advancement in Open Radio Access Network (O-RAN) technology and demonstrates yet another way Artificial Intelligence (AI) is being used in Verizon’s network to drive operational efficiency and ensure Verizon customers are always connected to the very best network experience. In this first multi-vendor deployment, Verizon integrated Samsung’s AI-powered Energy Saving Manager (AI-ESM) with Qualcomm DragonwingTM RAN Automation Suite’s RIC to integrate energy efficiency into its network. 

    “Verizon has been driving innovation in and adoption of O-RAN throughout the industry because we believe an open and standardized network drives more competition, more innovation, and increased supplier diversity,” said Adam Koeppe, Senior Vice President of Network Technology, Strategy, and Planning at Verizon. “Expanding on our industry-leading success with deploying O-RAN compliant radios and distributed units throughout our network, the introduction of the RAN Intelligent Controller will allow for greater flexibility and control over network operations.”

    What is a RAN Intelligent Controller enabled by O-RAN

    The RAN Intelligent Controller (RIC) is a software-based component within a mobile network’s Radio Access Network (RAN) that uses artificial intelligence and automation to optimize network performance by making decisions based on network conditions. It’s a key part of the Open RAN architecture, enabling the integration of third-party applications to enhance network capabilities.

    “As the world moves toward a more interconnected future with 5G and beyond, the expectation for us is to deliver seamless, high-quality network experiences while managing the complexities of modern mobile networks,” continued Koeppe. “RAN Intelligent Control is emerging as a key enabler of efficient, adaptive, and scalable network operations and fits within our growing portfolio of automation and orchestration capabilities on the network.”

    The RIC controls applications that manage numerous functions on the network called rApps that leverage data and insights from the RAN to improve various aspects of mobile communication, such as coverage, capacity, efficiency and service quality. Historically, automation platforms have been developed and run by the same vendors providing proprietary hardware and software in a closed ecosystem. However, with the evolution of the RAN Intelligent Controller, they are now being developed independently of specific vendors and deployed on virtualized, open platforms. Verizon can now efficiently manage intelligent solutions and applications like rApps utilizing open interfaces and standardized protocols from standards bodies such as 3GPP and the O-RAN Alliance, allowing for more flexible and scalable network deployment and management.

    Enhancing Network Performance with AI-Powered Solutions

    In this first multi-vendor deployment, Verizon integrated Samsung’s AI-powered Energy Saving Manager (AI-ESM) with Qualcomm® Dragonwing RAN Intelligent Controller to integrate energy efficiency in its commercial network. The joint work demonstrated the operation of a multi-vendor ecosystem and resulted in energy savings.

    • Samsung’s AI-ESM enables Verizon to maximize network energy efficiency and facilitates a more sustainable approach without compromising network performance and user experience. It identifies various site environments, learns traffic patterns by location and time of day, and evaluates the extent of impact on network performance—helping to find the optimal threshold value.

      This solution automatically switches off cell or transmission paths within a cell site during periods of low traffic (when traffic load is below threshold value) to conserve power, and turns them back on when data traffic increases again (when traffic load reaches threshold value). By applying this, Verizon was able to achieve an energy savings gain of 15% on average, with a maximum of 35% per sector during low traffic periods in a variety of field tests.

    • The Qualcomm Dragonwing RAN Automation Suite builds programmability to enable a vendor-neutral rApp marketplace. The RAN Automation Suite DML (Data Management Layer) provides applications with RAN AI Services, including HNN (Hybrid Neural Network) and DNN (Deep Neural Network) technology, for AI-Driven RAN Management.

    “We believe that virtualization is the key to realizing the true benefits of AI. Samsung’s software-based vRAN provides the most optimal foundation to apply and utilize AI technology,” said Magnus Ojert, Senior Vice President & Head of US Networks Business, Samsung Electronics America. “Leveraging the large-scale vRAN network that Verizon and Samsung have built together, we will continue to maintain our competitive edge in the AI era, advancing AI-powered solutions to create a positive impact on the environment around the world.”

    “We are thrilled to extend our longstanding relationship with Verizon through this groundbreaking multi-vendor RAN Intelligent Controller deployment, leveraging the Qualcomm Dragonwing RAN Automation Suite,” said Ofir Zemer, VP, Product Management, Qualcomm Israel Ltd. “By enabling a vendor-neutral rApp marketplace, empowered by a set of RAN AI services, we are jointly fostering a diverse ecosystem and supporting a path of democratizing RAN AI.”

    Qualcomm and Qualcomm Edgewise are trademarks or registered trademarks of Qualcomm Incorporated. Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: Budget Speech by the Financial Secretary (9)

    Source: Hong Kong Government special administrative region

    Accelerating Green DevelopmentGreen Industries171. Development of green industries is a major international trend and key to addressing global climate change. The combination of green finance and green technology will accelerate the build-up of multi-faceted industry clusters, thereby creating huge business opportunities and financing needs, and making contribution to green transformation and development.Green Finance172. We launched the Sustainable Finance Action Agenda last year, setting out goals for the banking industry to achieve net zero. We also launched the Roadmap on Sustainability Disclosure in Hong Kong. It provides a well defined pathway for large publicly accountable entities to adopt the International Financial Reporting Standards – Sustainability Disclosure Standards no later than 2028. This will make Hong Kong one of the first jurisdictions to align its local requirements with the Standards.173. To continuously support local green-finance talent training, we will extend the Pilot Green and Sustainable Finance Capacity Building Support Scheme to 2028. Over 5 700 applications have been approved under the Scheme.Green Technology174. The HKSTPC will develop the InnoCentre in Kowloon Tong into a leading green technology hub – “GreenTech Hub”, bringing together more than 200 green technology companies. The HKSTPC will invite financial and business institutions, universities, institutions supporting business, etc, to become partners of the admitted companies and provide support such as talent training, testing and application scenarios, and business matching.Green Shipping175. The Government will provide tax exemption for green methanol used for bunkering. Meanwhile, the Government will implement the Action Plan on Green Maritime Fuel Bunkering to develop Hong Kong into a green maritime fuel bunkering centre.Green Aviation176. To provide support for the decarbonisation of the international and local aviation industry, we are promoting the application of Sustainable Aviation Fuel (SAF) at the HKIA. The AA completed a relevant study last year. We will announce an SAF consumption target this year.Green CityWaste Reduction and Recycling177. To enhance waste reduction at source, the Government will allocate an additional funding of $180 million for increasing the number of residential food waste smart recycling bins and food waste collection facilities across the city, as well as expanding the recycling network and increasing waste recovery.Waste to Energy178. I·PARK1, Hong Kong’s first waste-to-energy facility for treating municipal solid waste, is expected to commence operation this year. Moreover, we have invited the open tender for I·PARK2, the second large-scale facility with an expected treatment capacity of 6 000 tonnes per day. It is a major step towards “zero landfill”.Charging Network for Electric Vehicles179. There are more than 100 000 electric vehicles in Hong Kong, about eight times of that five years ago. The Government will launch a $300 million subsidy scheme in the middle of the year. It is expected that the scheme will provide impetus for the industry to install 3 000 fast chargers across Hong Kong by 2030 to be used by 160 000 additional electric vehicles.Green Transformation of Public Buses and Taxis180. The Government has announced the Green Transformation Roadmap of Public Buses and Taxis and earmarked $470 million under the New Energy Transport Fund to subsidise franchised bus operators in purchasing about 600 electric buses. Also, $135 million were earmarked to subsidise the taxi trade in purchasing 3 000 electric taxis. In addition, the Funding Scheme to Trial of Hydrogen Fuel Cell Heavy Vehicles is now open for application.Smart and Green Mass Transit Systems181. Last year, the Government invited expressions of interest for the smart and green mass transit system projects in Kai Tak, East Kowloon and Hung Shui Kiu/Ha Tsuen and Yuen Long South NDAs. The Government will continue to take forward the projects with an innovative mindset, and strive to invite tenders for the Kai Tak project this year and the East Kowloon and Hung Shui Kiu/Ha Tsuen and Yuen Long South NDAs projects next year respectively. Sustainable Development of Agriculture and Fisheries Industries182. We will continue to take forward the Blueprint for the Sustainable Development of Agriculture and Fisheries to assist the upgrading and transformation of the agriculture and fisheries industries. The Government has reserved a site in Sheung Shui for the agriculture sector to set up the first multi-storey, modernised and environment-friendly livestock farm. For the fisheries sector, the first batch of marine fish-culture licences at Wong Chuk Kok Hoi and Mirs Bay will be issued in the middle of the year the earliest. We are also proactively working to establish a brand building and certification system for leisure fisheries and farming, as well as local agricultural and fisheries produce. Land and Housing SupplyLand Supply183. We need a sufficient supply of land to create the capacity for supporting the development of new industries, injecting new impetus into our economy, and providing a better living and leisure environment for our people.184. The Government will closely monitor market situation and development, and roll out sites in a paced and orderly manner. Having learned from past experience that land shortage would constrain Hong Kong’s development, we must persist with our work on planning and land creation. The pace of rolling out sites to the market can be adjusted in the light of actual circumstances.  185. The commercial property market has been facing considerable challenges in the past few years. In view of the high vacancy rates of offices in recent years and the relatively ample supply in the next few years, the Government will not roll out any commercial site for sale in the coming year to allow the market to absorb the existing supply. We will also consider rezoning some of the commercial sites into residential use and allowing greater flexibility of land use. To tie in with the relevant work, we will also extend the deadline for completing in-situ land exchange for commercial sites in the town centre of HSK/HT NDA. 186. The Land Sale List of the coming year comprises eight residential sites. There will also be railway property development projects, projects undertaken by the Urban Renewal Authority (URA) as well as private development and redevelopment projects. Taken together, the potential land supply for the whole year is expected to have a capacity for providing about 13 700 units, similar to the projected annual demand for private housing as announced in the Long Term Housing Strategy.  The sale arrangements will be announced on a quarterly basis having regard to market situation and relevant circumstances.187. We will prepare land for the production of about 80 000 private housing units in the coming five years. About 65 per cent of the land comes from the NM and the Tung Chung New Town Extension. The above projection has yet to take into account the supply from development projects undertaken by the URA and other private development projects.Housing Supply188. On public housing supply, the Government has identified sufficient land for meeting the supply target of 308 000 public housing units over the next 10 years. Coupled with Light Public Housing, the total public housing supply in the coming five years will reach 190 000 units, which is about 80 per cent higher than that of the first five year period since the current term Government took office.189. On private housing supply, it is estimated that the completion of private residential units will be on average over 17 000 units annually in the coming five years, representing a decrease of about eight per cent over the annual average of the past five years. The potential supply of first hand private residential units for the next three to four years will be around 107 000 units. Infrastructure DevelopmentTransport Infrastructure190. The Government will strive to commence the detailed planning and design of the South Island Line (West) project this year. The construction works of the remaining sections of Route 6, namely the Central Kowloon Route and Trunk Road T2 and Cha Kwo Ling Tunnel, are entering the final stage. The Central Kowloon Route project is expected to be completed by the end of this year while Route 6 will be fully commissioned next year.Professional Development of Construction Industry191. I have set aside $15 million for the work of the Centre of Excellence for Major Project Leaders over the next two years to enhance the professionalism, innovation capabilities and cost-effectiveness management of the construction industry. The Centre will organise summits and various events to promote exchanges and co-operation transcending geographical and sectoral boundaries.192. To attract more young people to join the construction industry, we and the Construction Industry Council (CIC) will jointly allocate funding totalling about $95 million to continue the provision of on-the-job training subsidies to trainees enrolling in part-time construction-related degree programmes over the next two academic years. It is anticipated to benefit about 1 000 trainees.193. The CIC will allocate around $150 million to subsidise the construction industry to provide on the job training for about 2 500 graduates of degree programmes in engineering, architecture, surveying, planning and landscape architecture. This will assist more young people in obtaining professional qualifications. A Caring and Inclusive CommunitySupport for Youth194. The Government has just raised the upper age limit for participants of the Youth Employment and Training Programme to 29 and introduced workplace attachment opportunities in the GBA to help young people enhance their employability. The estimated expenditure for the Programme next year is around $100 million.195. In the coming year, we plan to offer around 4 000 short term internship placements in bureaux and departments and public organisations for tertiary students. Students who aspire to pursue a career in public service may take the opportunity to broaden their horizons and better plan for their future career development.196. The Hong Kong Housing Authority has launched the “Well Being ??? Start Up” Programme on a pilot basis, offering rent-free shop premises in its shopping centres for young people to trial their business plans. The Programme has received ardent support from different sectors of the community. The Authority will expand the programme and appeal to private landlords for support.Caring for the Elderly197. The Government will, in the next financial year, increase the number of vouchers under the Residential Care Service Voucher Scheme for the Elderly by 1 000 to 6 000 in total and increase the number of vouchers under the Community Care Service Voucher Scheme for the Elderly by 1 000 to 12 000 in total, involving an annual expenditure of about $1,710 million and $900 million respectively.198. The Working Group on Promoting Silver Economy will implement measures in five areas, namely boosting “silver consumption”, developing “silver industry”, promoting “quality assurance of silver products”, enhancing “silver financial and security arrangements”, and unleashing “silver productivity”. Relevant policy bureaux are taking forward their work.199. The HKMA will collaborate with the Hong Kong Association of Banks to formulate industry guidelines this year, with a view to encouraging banks to offer elderly-friendly electronic banking services.Support for Working Families200. As at the end of last year, about 50 000 households were receiving allowance under the Working Family Allowance Scheme, involving around 170 000 persons, inclusive of some 70 000 children. In 2025-26, the estimated expenditure for the Scheme is about $2.1 billion. The Government has increased the rates of the household and child allowances under the Scheme by 15 per cent across the board with effect from April last year.Child Protection201. The Mandatory Reporting of Child Abuse Ordinance will come into effect next January, creating a wider protection web for children. The Government will provide an additional annual provision of $186 million to increase emergency places for residential child care and strengthen professional support for child abuse victims and their families.Support for Persons with Disabilities202. The Government will set up 14 Integrated Community Rehabilitation Centres across the territory in phases to provide persons with disabilities who require medium to high level care with flexible and integrated community support services through a case management approach. Besides, 1 280 additional day community rehabilitation and home care service places will be provided for persons with disabilities, involving about $160 million additional annual expenditure.203. Starting from the third quarter of this year, the Government will regularise the Pilot Project on Enhancing Vocational Rehabilitation Services to provide training to persons with disabilities according to their personal interest and abilities to enhance their employment opportunities. The annual expenditure involved is about $100 million and it is expected to benefit about 10 000 people.Women’s Development204. The Government is committed to women’s development and launched the Women Empowerment Fund in June 2023 with an annual funding of $20 million. To date, the Fund has provided funding support to women’s groups and non governmental organisations for launching over 240 projects, empowering women to excel. This year, a two year pilot mentorship programme will be launched, pairing female university students with women leader mentors to promote women’s workplace development.District Services and Community Care Teams205. Last year, the Chief Executive announced that the Government would regularise the establishment of District Services and Community Care Teams and increase their funding by 50 per cent in the next term of service. Since the launch of the Community Care Teams, they have paid visits to about 390 000 households and provided around 43 000 times of support services. The Government will further enhance the provision of caring services.Enhancement of Public Healthcare System206. To develop primary healthcare, the Government will upgrade the District Health Centre Expresses in Central and Western District, Eastern District and Yau Tsim Mong District into District Health Centres this year, with a view to strengthening the community healthcare system.207. The Government is progressively implementing and completing the 16 works projects, which entail a total of about $190 billion, under the First Hospital Development Plan. Taking into account the latest demographic structure, planning and development situation in Hong Kong, we will review the distribution, scale and priority of projects under the Second Hospital Development Plan, and will make the announcement in due course.208. Furthermore, the Government and the HA are reviewing the structure and levels of subsidisation for public healthcare, with a view to strengthening the financial sustainability of public healthcare services and providing better support for patients with serious or critical conditions as well as those with financial difficulties. The outcome of the review will be announced this year.Combatting Illegal Betting209. In recent years, quite some members of the public have expressed concerns about the problem of illegal basketball betting in Hong Kong. According to the latest assessment of the Hong Kong Jockey Club (HKJC), the turnover of illegal basketball betting reached $70 billion to $90 billion last year. To combat illegal betting activities in an effective manner, the Government will explore regulating basketball betting activities and invite HKJC to submit a proposal.

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: Answer to a written question – Burden on low-income earners resulting from rising CO2 prices – E-000025/2025(ASW)

    Source: European Parliament

    A just transition is a key principle of the implementation of the European Green Deal. The new emissions trading system (ETS) for fuel combustion in buildings, road transport and additional sectors (ETS2)[1] has been designed with important safeguards to start in an orderly, smooth and efficient manner.

    ETS2 will complement policies and measures at national and EU level. Action at national level, which is set out in the National Energy and Climate Plans, will also be crucial in delivering the required emission reductions.

    A part of the revenues raised by ETS2 will finance the Social Climate Fund[2], which is established to ensure a socially fair transition by addressing impacts on vulnerable groups, especially lower and lower-middle income households and those in energy or transport poverty. Member States are to define the vulnerable groups in their Social Climate Plans.

    Together with a minimum 25% national contribution, the Fund will mobilise at least EUR 86.7 billion over 2026-2032. It will fund structural measures and investments in energy efficiency, renewable energy, decarbonisation of heating and cooling and sustainable mobility and transport, including social leasing, public transport, shared mobility and on-demand offers.

    Pending the impact of these investments on reducing emissions and energy bills, there will be the option to provide temporary direct income support.

    This will come alongside existing funding instruments supporting vulnerable groups, such as Recovery and Resilience Facility and Cohesion Policy Funds.

    Member States must spend all remaining national auction revenues on select climate and energy purposes, prioritising social aspects. They could also further top up their contributions to their Social Climate Plans.

    • [1] https://eur-lex.europa.eu/eli/dir/2003/87
    • [2] https://eur-lex.europa.eu/eli/reg/2023/955

    MIL OSI Europe News

  • MIL-OSI Europe: REPORT on the implementation of the common foreign and security policy – 2024 annual report – A10-0010/2025

    Source: European Parliament

    MOTION FOR A EUROPEAN PARLIAMENT RESOLUTION

    on the implementation of the common foreign and security policy – 2024 annual report

    (2024/2080(INI))

    The European Parliament,

     having regard to the Treaty on European Union (TEU), in particular Articles 14, 16, 21, 24, 36 and 41 thereof,

     having regard to the Interinstitutional Agreement of 16 December 2020 between the European Parliament, the Council of the European Union and the European Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources[1],

     having regard to the report of 20 June 2024 by the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy (VP/HR) entitled ‘Common Foreign and Security Policy Report – Our Priorities in 2024’,

     having regard to the ‘Strategic Compass for Security and Defence – For a European Union that protects its citizens, values and interests and contributes to international peace and security’, endorsed by the European Council on 21 March 2022,

     having regard to NATO’s 2022 Strategic Concept, adopted on 29 June 2022,

     having regard to the European Council conclusions of 22 March 2024, 18 April 2024, 27 June 2024 and 19 December 2024,

     having regard to the Foreign Affairs Council conclusions of 18 March 2024, 22 April 2024, 24 May 2024, 24 June 2024, 22 July 2024, 14 October 2024, 18 November 2024 and 16 December 2024,

     having regard to the declaration of the Summit between the EU and the Community of Latin American and Caribbean States (CELAC) adopted on 18 July 2023,

     having regard to Council Decision (CFSP) 2021/509 of 22 March 2021 establishing a European Peace Facility, and repealing Decision (CFSP) 2015/528[2],

     having regard to the Political Guidelines of the Commission President for 2024-2029,

     having regard to the 2024 enlargement reports presented by the Commission on 30 October 2024,

     having regard to the Commission communication of 30 October 2024 entitled ‘2024 Communication on EU enlargement policy’ (COM(2024)0690),

     having regard to Regulation (EU) 2024/1449 of the European Parliament and of the Council of 14 May 2024 on establishing the Reform and Growth Facility for the Western Balkans[3],

     having regard to Sauli Niinistö’s report of 30 October 2024 on strengthening Europe’s civil and military preparedness and readiness,

     having regard to the EU Guidelines on Human Rights Defenders, adopted in 2004, updated in 2008 and further supplemented in 2020 with a guidance note on the Guidelines’ implementation,

     having regard to its resolutions on breaches of human rights, democracy and the rule of law, adopted in accordance with Rule 150 of its Rules of Procedure,

     having regard to the joint communication from the Commission and the High Representative of the Union for Foreign Affairs and Security Policy of 20 June 2023 on European Economic Security Strategy (JOIN(2023)0020),

     having regard to the joint communication from the Commission and the High Representative of the Union for Foreign Affairs and Security Policy of 16 December 2020 entitled ‘The EU’s Cybersecurity Strategy for the Digital Decade’ (JOIN(2020)0018),

     having in regard to the Commission Recommendation of 3 October 2023 on critical technology areas for the EU’s economic security for further risk assessment with Member States (C(2023)6689),

     having regard to Council Decision (CFSP) 2019/797 of 17 May 2019 concerning restrictive measures against cyber-attacks threatening the Union or its Member States[4],

     having regard to its resolution of 1 June 2023 on foreign interference in all democratic processes in the European Union, including disinformation[5],

     having regard to its resolution of 9 October 2024 on strengthening Moldova’s resilience against Russian interference ahead of the upcoming presidential elections and a constitutional referendum on EU integration[6],

     having regard to its resolution of 24 October 2024 on the misinterpretation of UN resolution 2758 by the People’s Republic of China and its continuous military provocations around Taiwan[7],

     having regard to its resolution of 17 January 2024 on the security and defence implications of China’s influence on critical infrastructure in the European Union[8],

     having regard to its resolutions of 24 October 2024 on the situation in Azerbaijan, violation of human rights and international law and relations with Armenia[9] and of 5 October 2023 on the situation in Nagorno-Karabakh after Azerbaijan’s attack and the continuing threats against Armenia[10],

     having regard to its resolutions on historical remembrance, including its resolutions of 2 April 2009 on European conscience and totalitarianism[11], of 19 September 2019 on the importance of European remembrance for the future of Europe[12], of 15 December 2022 on 90 years after the Holodomor: recognising the mass killing through starvation as genocide[13] and of 17 January 2024 on European historical consciousness[14],

     having regard to the report of 9 May 2022 on the final outcome of the Conference on the Future of Europe,

     having regard to the EU Action Plan on Gender Equality and Women’s Empowerment in External Action 2021-2025 (GAP III),

     having regard to the Council of Europe Convention on preventing and combating violence against women and domestic violence (the Istanbul Convention), which entered into force in the EU on 1 October 2023,

     having regard to the UN resolution adopted by the UN General Assembly on 25 September 2015 at the UN Sustainable Development Summit in New York entitled ‘Transforming our World: the 2030 Agenda for Sustainable Development’ (Agenda 2030), which established the Sustainable Development Goals (SDGs),

     having regard to the UN resolution adopted by the UN General Assembly on 8 December 1949 on assistance to Palestine refugees,

     having regard to the UN Security Council resolution of 22 November 1967 on a peaceful and accepted settlement of the Middle East situation,

     having regard to the UN Security Council resolution of 11 August 2006on the situation in the Middle East,

     having regard to the United Nations Convention on the Prevention and Punishment of the Crime of Genocide of 1948 and the UN Human Rights Council resolution of 22 June 2020 on the prevention of genocide,

     having regard to the Rome Statute of the International Criminal Court (ICC),

     having regard to the agreement between the International Criminal Court and the European Union of 28 April 2006 on cooperation and assistance[15],

     having regard to the advisory opinion requested from the International Court of Justice by the UN General Assembly in its resolution of 30 December 2022 on Israeli practices affecting the human rights of the Palestinian people in the Occupied Palestinian Territory, including East Jerusalem,

     having regard to the order of the International Court of Justice concerning South Africa’s request for the indication of provisional measures,

     having regard to Rule 55 of its Rules of Procedure,

     having regard to the report of the Committee on Foreign Affairs (A10-0010/2025),

    A. whereas the world faces rapid geopolitical shifts, with autocratic powers, both individually and in coordinated efforts, actively challenging the international rules-based order and its multilateral institutions, international law, democratic institutions and societies, as well as our alliances; whereas all EU leverage should be assessed in order to dissuade countries from supporting Russia’s aggression;  

    B. whereas the BRICS summit held in Kazan, Russia, from 22 to 24 October 2024 underscores how Putin leverages international platforms to counteract isolation and build alliances; whereas a unified and strategic EU response is required to uphold the principles of the rules-based international order;

    C. whereas the EU and its Member States should review development assistance to governments of countries that openly support Russia’s war of aggression against Ukraine and monitor their votes on relevant UN resolutions;

    D. whereas the geopolitical confrontation between democracies and authoritarian and dictatorial regimes is growing, conflicts are multiplying, and the use of force is increasingly treated as a standard tool for pursuing political aims; whereas force is wielded not only by states but also by an expanding array of non-state actors; whereas the EU needs to reinforce transatlantic relations and build constructive partnerships with like-minded partners in the Global South;

    E. whereas the geopolitical context in which the EU is operating has accentuated the need for more ambitious, credible, decisive and unified EU action and a fully fledged European foreign policy on the world stage and has highlighted the necessity for Member States to demonstrate the required political will to rebuild their defence capabilities, while strengthening the EU’s transatlantic bonds and partnerships with like-minded countries; whereas the common foreign and security policy (CFSP) needs to become a fully fledged EU policy through which the EU can address the key geopolitical challenges; whereas the EU should be guided in its external action by the values and principles enshrined in Article 2, Article 3(5) and Article 21 TEU, which have inspired the EU’s own creation, development and enlargement; whereas it is in the EU’s interest to stand up accordingly for universal values, norms and principles such as freedom and democratic standards, as well as human rights, the rule of law, international justice and the Helsinki Final Act, in particular as regards the non-violation of international borders;

    F. whereas the EU is faced with the rapid rise of new threats at its borders and on its territory, which are destabilising the EU’s functioning, in particular targeted disinformation, cyber and hybrid attacks, the instrumentalisation of migratory flows, in addition to international terrorism and religious radicalism;

    G. whereas strategic autonomy requires the EU to act independently on the global stage when needed, particularly in foreign and security policy; whereas the EU has recognised the need to reduce undue reliance on external actors for safeguarding its interests in an unpredictable and multipolar world;

    H. whereas the EU needs to develop an independent and autonomous European diplomacy, including public and cultural, economic, climate, digital and cyber diplomacy, led by an EU diplomatic service which is driven by a common diplomatic culture;

    I. whereas the Russian war of aggression against Ukraine violates the rules-based international order, fundamental principles of international law as enshrined in the UN Charter and key conventions and resolutions, the Helsinki Final Act and the European Convention on Human Rights;

    J. whereas the Russian violations of the Geneva Convention on Prisoners of War comprise executions of prisoners and the denial of access to humanitarian organisations and medical treatment for prisoners;

    K. whereas the ICC has issued an arrest warrant for Vladimir Putin and the Russian High Commissioner for Children, Maria Lvova-Belova, for their involvement in the abduction of Ukrainian children to Russia; whereas Russia, assisted by the Belarusian regime, is undertaking to re-educate Ukrainian hildren and erase their Ukrainian identity; whereas Aliaksandr Lukashenka’s regime in Belarus has to be held fully accountable for its complicity in the war of aggression against Ukraine and war crimes such as the abduction of thousands of Ukrainian children;

    L. whereas the ICC has additionally issued arrest warrants for Russian military leaders Sergei Shoigu, Valery Gerasimov, Viktor Sokolov and Sergei Kobylash, accused of directing attacks on civilian targets;

    M whereas the Hungarian Government is blocking the newly established EUR 5 billion Ukraine Assistance Fund set up in March 2024 within the European Peace Facility (EPF); whereas the Hungarian Government is blocking the eighth tranche of EPF reimbursements for Member States that have delivered military aid to Ukraine for more than 18 months;

    N. whereas Russian shadow fleet tankers pose a considerable risk to maritime and environmental security by turning off or manipulating their automatic identification systems; whereas these tankers provide an estimated USD 12 billion to Russia’s war budget each month, thereby directly funding its aggressive military operations;

    O. whereas Vladimir Putin’s regime has instrumentalised history in an attempt to secure the loyalty of the Russian population by creating nostalgia for the supposed greatness of the Soviet Empire, falsifying the history of Russia and Ukraine, rejecting Nikita Khrushchev’s policy to acknowledge and condemn Stalinist crimes, reneging on Mikhail Gorbachev’s recognition and condemnation of the Molotov-Ribbentrop Pact, and declaring the collapse of the Soviet Union as the greatest tragedy of the previous century;

    P. whereas Russia and other malign actors in its neighbouring countries promote anti-Western and divisive rhetoric and exploit ethnic tensions in the Western Balkans in order to inflame conflict and divide communities, including through the instrumentalisation of the Serbian Orthodox Church;

    Q. whereas 2024 marked the 20th anniversary of the ‘big bang’ enlargement when 10 countries joined the EU; whereas enlargement is of the utmost strategic importance for the EU, as it represents a geostrategic investment in long-term peace, democracy, stability, security, climate protection and prosperity across the continent, and in particular in the face of the Russian war of aggression against Ukraine; whereas the preparation for enlargement requires reforms in the EU and whereas the EU should conduct the enlargement process in parallel with the institutional and decision-making reforms necessary to safeguard the EU’s integration capacity;

    R. whereas the EU must maintain the momentum for the acceleration of its enlargement policy while accession countries continue to reform and achieve the required benchmarks related to the EU acquis; whereas consistent messages and a clear path towards integration for candidate countries are vital for keeping the pro-European perspective alive;

    S. whereas the future of the Balkans and the countries in the Eastern Neighbourhood lies in the EU;

    T. whereas the Union is founded on the values of democracy, the rule of law and respect for human rights, which are part of the Copenhagen criteria, which are the key set of criteria for EU membership; whereas the accession process is a merit-based and reversible process;

    U. whereas joining the EU requires foreign policy alignment, including on the votes on United Nations General Assembly resolutions, support for Ukraine and alignment with sanctions against Russia; whereas most of the countries of the Western Balkans have reached high levels of alignment with the CFSP, a notable exception being Serbia;

    V. whereas North Macedonia concluded the Prespa Agreement with Greece and the Treaty of friendship, good-neighbourliness and cooperation with Bulgaria;

    W. whereas the citizens of Georgia have demonstrated their commitment to democratic values and to their country making progress with EU integration; whereas the democratic backsliding in Georgia needs to be reversed; whereas the Georgian authorities should heed the will of the Georgian people to join the EU and should ensure free and fair elections, stop democratic backsliding, abandon the laws that jeopardise Georgia’s European future and pursue pro-European democratic reforms; whereas Georgia should align with the EU’s CFSP, including the sanctions adopted unanimously against Russia;

    X. whereas any partnership agreement between the EU and Azerbaijan – including on energy – must have strong conditions attached on the respect of international law, fundamental rights and international obligations and, in particular, on Azerbaijan making substantial progress towards a comprehensive and sustainable peace agreement with Armenia;

    Y. whereas the Mediterranean is of great importance to the EU, both historically and geographically; whereas the countries of the Southern Neighbourhood play an important role in ensuring that irregular migration flows are managed on the basis of the principles of solidarity, balance, shared responsibility and in full compliance with applicable EU and international law and, in particular, human rights and humanitarian law;

    Z. whereas strategic partnerships and agreements between the EU and countries of origin and transit, such those between EU and Mauritania, are proving to be a successful model for the prevention of irregular migration and the fight against migrant smugglers;

    AA. whereas the supply of thousands of Shahed drones from the Islamic Republic of Iran to Russia has further cemented Iran’s role as a pariah state; whereas North Korea and China further demonstrate their unwavering disregard to international laws and norms;

    AB. whereas on 28 May 2024, Norway, Ireland and Spain recognised the State of Palestine, followed on 4 June 2024 by a decision of Slovenia’s parliament to do the same;

    AC. whereas China defines itself as a ‘near-Arctic state’ and endeavours to develop, in close partnership with Russia, a Polar Silk Road;

    AD. whereas the Belt and Road Initiative, known in China as the One Belt One Road, is a threat to the EU’s interests and undermines the CFSP;

    AE. whereas on 14 October 2024 the High Representative of the Union for Foreign Affairs and Security Policy and the British Foreign Secretary agreed to launch strategic consultations on issues such as the Russian war of aggression against Ukraine, the Indo-Pacific, the Western Balkans and hybrid threats;

    AF. whereas all UN agencies embody the rules-based international order as they uphold and implement both the letter and the spirit of the UN Charter, to which all UN Member States must abide;

    AG. whereas the EU’s credibility and coherence is a paramount requirement for the correct implementation of its external action, as this reinforces trust in the EU among various actors and non-EU countries; whereas the efficiency of the EU’s actions worldwide is contingent on ensuring the highest level of coordination and coherence in the EU’s external action; whereas coordination between the Commission and the European External Action Service (EEAS) should be strengthened, particularly due to the insufficient operational budget of the EEAS;

    AH. whereas the implementation of gender equality and the WPS agenda requires initiatives that promote gender-responsive leadership, protect women’s rights and combat sexual and gender-based violence in conflict and post-conflict settings; whereas the funding of these initiatives is essential for supporting local civil society organisations and providing survivor-centred support;

    AI. whereas human rights defenders (HRDs) are the EU’s main allies in defending and promoting human rights abroad; whereas HRDs are increasingly at risk of attacks and threats from state and non-state actors; whereas Parliament has consistently called for the proper and coordinated implementation of the EU Guidelines on Human Rights Defenders (2008); whereas the Member States, alongside the EU institutions, should implement these Guidelines, which include a range of specific commitments, such as regular reporting, coordination and action in support of HRDs;

    AJ. whereas the consequences of climate change will have an ever-increasing effect on various spheres of human life, including geopolitical order and global stability; whereas it is of crucial importance that fighting climate change, necessitating climate action, and aiding those who are hardest hit by its repercussions, becomes a cornerstone of the CFSP; underlines the fundamental role which the Commission and the Member States, in a joint approach, must play in the advancement of climate diplomacy globally;

    AK. whereas the report entitled ‘Safer Together – Strengthening Europe’s Civilian and Military Preparedness and Readiness’, presented by Sauli Niinistö, Special Adviser to the President of the European Commission, provides strategic recommendations for enhancing Europe’s civilian and military preparedness in the light of escalating and complex security threats;

    AL. whereas this report first reviews the VP/HR’s annual CFSP report and subsequently complements it with Parliament’s positions on the CFSP objectives in 2025; whereas in so doing, the report expands particularly on (1) the global consequences of Russia’s war of aggression against Ukraine, (2) conflict and peace in the Middle East, (3) cooperation with like-minded partners and (4) the general visibility and influence of EU action abroad; whereas Parliament’s forward-looking CFSP position is ultimately underlined by key demands concerning the next multiannual financial framework (MFF) and the parliamentary oversight of the MFF; whereas there is a need to defend and strengthen the rules-based international order, the universal norms, values and principles of the UN Charter such as human rights and international justice, multilateralism, and the Helsinki Final Act, in particular as regards the non-violation of international borders;

    1. Underscores that its resolutions on the implementation of the CFSP are a key component of its contribution to EU foreign policymaking; underlines that these resolutions manifest the practical implication of the strengthened right of scrutiny in the area of foreign policy conferred on Parliament by the Treaty of Lisbon; recalls that the 2024 resolution is the first of this nature in this legislative term and aims to serve as a guide for the EU executive when setting foreign policy priorities for this term; highlights the fact that in an ever volatile international environment, the EU needs to simultaneously tackle numerous foreign policy challenges affecting it directly or indirectly, such as the ongoing Russian war of aggression against Ukraine, the conflicts in the Middle East, increasing great power competition, constant attempts to undermine the multilateral rules-based international order and an increased nexus of foreign and internal crises; strongly believes that in order to stay relevant on the international stage, the EU needs to pursue a determined, disciplined and assertive foreign policy that fulfils the EU’s own strategic objectives and continues defining, asserting and defending its interests in the world; recalls that the EU should be guided in its external action by the values and principles enshrined in Article 2, Article 3(5) and Article 21 TEU, which have inspired the EU’s own creation, development and enlargement, including democracy, the rule of law, the universality and indivisibility of human rights and fundamental freedoms, respect for human dignity, and the principles of equality and solidarity; further believes that the CFSP should ensure the implementation of the UN’s 2030 Agenda and the SDGs;

    I. The VP/HR’s 2024 annual report

    2. Notes that the report was submitted to the European Parliament on 20 June 2024; recalls that the report should be forward-looking in nature; comments hereinafter on several developments emphasised by the VP/HR in his report;

    3. Welcomes in particular:

     the local, vibrant civil societies in the enlargement countries that play a constructive role in the EU integration processes, while underlining that civil society is vital in fostering democracy and pluralism and promoting good governance as well as social progress and that the enlargement countries should provide an enabling space and an appropriate framework for cooperation to ensure their meaningful involvement;

     the successful finalisation of the screening process for Albania at the end of 2023 and the opening of the first cluster of negotiating chapters on external relations (Cluster 6); welcomes Albania’s ambition of closing accession negotiations swiftly; highlights the need to further intensify reforms to address deficiencies that persist regarding the ‘fundamentals’, in particular concerning the rule of law, fighting corruption and organised crime; cautions against undermining the work of independent institutions such as the Special Anti-Corruption and Organised Crime Structure (SPAK); underscores the importance of a viable political pluralism and a competitive opposition and calls for dialogue and constructive engagement between the majority and the opposition to overcome the strong political polarisation in the country and to foster inclusive democratic processes that respects all parties, including the Greek, Roma and Egyptian minorities in the country; commends the country’s consistent, full alignment with the EU’s foreign and security policy, including with the EU’s restrictive measures against Russia and Belarus;

     the decision on the opening of accession negotiations with Bosnia and Herzegovina; encourages the authorities to take all of the relevant steps set out in the Commission’s recommendation of 12 October 2022; urges the country’s political leaders to implement a substantial set of reforms, including electoral reforms, in accordance with the decisions of domestic and international courts, in order to ensure the principles of equality and non-discrimination for all citizens and constituent peoples, as enshrined in its constitution and in full respect of the judgments of domestic and international courts, including all rulings of the European Court of Human Rights regarding Bosnia and Herzegovina; denounces the recurring inflammatory rhetoric and secessionist laws and policies of the leadership of the entity ‘Republika Srpska’ (RS), including the celebration of the unconstitutional ‘RS Day’ on 9 January 2025; calls on the Member States and representatives of the international community in Bosnia and Herzegovina to promote and support the implementation of these judgments; reiterates its call for targeted sanctions against destabilising actors within Bosnia and Herzegovina, notably Milorad Dodik, as well as other high-ranking officials of RS and Serbian officials providing political and material support for secessionist policies; calls on all Member States to ensure that such sanctions can be adopted by the Council and to impose them bilaterally or in concert with other Member States if their adoption in the Council is not possible; welcomes the agreement reached to extend the mandate of the EU forces in Bosnia and Herzegovina’s Operation Althea until November 2025 and recalls that this mission still plays a pivotal role in the security and stability of Bosnia and Herzegovina; urges the EU’s military mission to actively prevent unlawful parades and other provocations as well as threats against all people working to help the victims of genocide and investing in inter-ethnic reconciliation and a peaceful future for the country;

     the progress in the Belgrade-Pristina Dialogue, especially in the areas of freedom of movement and energy; calls on Kosovo and Serbia to continuously engage in this dialogue in good faith and in the spirit of compromise to achieve a comprehensive, legally binding agreement on the normalisation of their relations, based on mutual recognition, in accordance with international law and without further delay; regrets, in this context, the lack of progress in the implementation of the path to normalisation and calls for efforts to be made and capacity to be dedicated to the EU-facilitated dialogue; commits, hence, to work closely with the outgoing as well as the incoming EU Special Representative for the Belgrade-Pristina Dialogue and other Western Balkan regional issues; calls on the VP/HR to take advantage of the new term of the Commission to overcome the stalemate and give a new impetus to the dialogue and to come up with a new, innovative and balanced approach to the mediation;

     the 2024 Enlargement Report on Serbia, presented by the Commission on 31 October 2024; reiterates its position that accession negotiations with Serbia should advance only if the country aligns with EU sanctions against Russia and makes significant progress on its EU-related reforms, in particular in the area of the ‘fundamentals’; reminds the Serbian authorities that the proper functioning of democratic institutions is at the core of Serbia’s EU accession process and the EU accession methodology; recalls in this context its position that the Serbian parliamentary and local elections held on 17 December 2023 deviated from international standards and Serbia’s commitments to free and fair elections; reiterates its serious concerns over these irregularities and the overall election environment, which fell below the standards expected of an EU candidate country; urges Serbia’s political leadership to ensure constructive, inclusive dialogue across the political spectrum and to deliver on the necessary reforms for Serbia to progress on the path to EU accession; regrets the biased approach of the EU towards Serbia despite its year-long roll-back on the rule of law, democracy and fundamental rights, as well as its destabilising influence on the whole region;

     Kosovo’s application for EU membership and the Kosovo Report 2024 and asks the Commission to respond to it; recalls that Kosovo’s bid to be considered a candidate country will be assessed on the basis of its own merits and of its success in meeting the Copenhagen criteria for EU membership; welcomes, however, the lifting of visa requirements for Kosovo citizens; regrets the restrictive measures imposed by the Council against Kosovo and calls for their immediate lifting, as proposed by the VP/HR;

     the progress made by Montenegro in meeting the interim benchmarks for Chapters 23 and 24 of the EU acquis; encourages the country to continue to make progress on and implement EU-related reforms swiftly; expresses, nonetheless, its concerns over controversial ideas for legislative proposals on citizenship and foreign agents floated in public; stresses the importance of the new government being able and committed to take forward the EU-related reforms and keep Montenegro firmly on the EU strategic path; expects the country to start closing chapters in the accession negotiations and to be ready to join the EU within the next couple of years;

     the successful finalisation of the screening process for North Macedonia at the end of 2023; urges the government of North Macedonia to achieve tangible results in fulfilling its obligation under the EU negotiating framework, including relevant constitutional changes, in line with the country’s commitments;

     the successful resumption of the CFSP dialogue between the EU and its partners in the Western Balkans and the importance of these partnerships for peace and security; recalls that EU enlargement is a geostrategic investment, which requires commitment from both the EU and the enlargement countries on their pathways to accession; recalls in this context the continued need for reforms regarding the rule of law, fundamental rights and public administration, and for alignment with the CFSP, including on sanctions and on the EU’s visa policy; highlights, additionally, the threats posed by malign foreign interference in the region and underlines the importance of combating disinformation to contain anti-Western and divisive rhetoric which seeks to exploit and exacerbate ethnic tensions in the region; cautions against engagement with the EU’s systemic rivals, which could undermine the prosperous, sustainable and secure future that EU accession offers; recalls, in this context, the added value of the investments made by the EU under the Instrument for Pre-accession Assistance III, the newly established Reform and Growth Facility for the Western Balkans, and the Western Balkans Investment Framework; calls on the Western Balkan countries to use all the resources made available to support their alignment with the EU acquis; calls upon the Commissioner for Enlargement to increase the visibility of EU action in the Balkans;

     the decision to open accession negotiations with Ukraine and Moldova; commends the fact that the CFSP alignment rate of Moldova has substantially increased from 54 % in 2022 to 86 % in 2024 and encourages Ukraine and Moldova to continue this positive trend towards full alignment; calls for the acceleration of the screening process and the timely organisation of the subsequent intergovernmental conferences;

     Armenia’s decision to suspend its participation in the Collective Security Treaty Organization and cease all payments to its budget in 2024, following Russia’s failure to assist Armenia against Azerbaijan’s military aggression, and to seek a more reliable security architecture; supports Armenia’s official request for the Russian Federation to withdraw its Federal Security Service border guards from its international airport and the Armenia-Iran border; welcomes the regular meetings under the EU-Armenia Political and Security Dialogue format and the EU-Armenia Partnership Council and commends the decision to adopt the assistance measures under the EPF in support Armenian armed forces on 13 June and 22 July 2024 respectively;

     the ongoing attempts by Armenia and Azerbaijan to normalise their relations, such as through the Armenia-Azerbaijan joint statement of 7 December 2023 on confidence-building measures, as well as the progress made in the framework of the Armenia-Azerbaijan border delimitation process, which has led to an agreement on several sections of the border; encourages both parties to sign a comprehensive and fair peace agreement without delay; calls on Azerbaijan to demonstrate genuine efforts to this end; reaffirms its support for the sovereignty and territorial integrity of both Armenia and Azerbaijan and strongly supports the normalisation of their relations based on the principles of the mutual recognition of territorial integrity and the inviolability of borders, in accordance with the 1991 Alma-Ata Declaration; reiterates its demand for the withdrawal of Azerbaijan’s troops from the entirety of Armenia’s sovereign territory and the release of the 23 remaining Armenian hostages;

     the activities of the civilian European Union Mission in Armenia (EUMA) under the common security and defence policy (CSDP), which contributes to security in the region by substantially decreasing the number of incidents in conflict-affected and border areas, and reduces the level of risks for the population living in such areas; welcomes Armenia’s assistance with the activities of the EUMA on its territory; commends the Council for the decision to increase the number of deployed observers as well as the mission’s capacity and to extend its deployment timeframe; calls for further expansion and presence in the region; calls on the Commission to provide support for Armenia for de-mining;

     the continued work of the EEAS on addressing and countering foreign information manipulation and interference (FIMI) through the EU FIMI Toolbox, the setting up of a STRATCOM taskforce, and through close cooperation with Member States, international partners, civil society and other relevant stakeholders; reiterates its call to promote the continuous flow of intelligence from Member States to the EEAS on foreign and security issues occurring outside the EU; calls, in this regard, for strengthening the EU INTCEN, the EEAS Crisis Response Centre and the EU Satellite Centre by enhancing its staff, financial resources and capabilities; 

     the proposal of the VP/HR for an anti-corruption sanctions regime, which would allow the EU to target serious acts of corruption worldwide; calls for its swift adoption by the Council;

    4. Condemns in particular:

     the ongoing illegal and unjustifiable Russian war of aggression against Ukraine and the increasing Russian attacks against civilian targets and civilian infrastructure within Ukraine; demands that Russia and its proxy forces cease all military action and that the Russian Federation immediately and unconditionally withdraw its troops and equipment from Ukraine and any other country whose territory, or parts thereof, it unlawfully occupies; condemns any hybrid attacks executed by Russia in Ukraine and strongly denounces the spread of Russia’s propaganda about its war in Ukraine;

     the role of the illegitimate regime of Aliaksandr Lukashenka in allowing the country to serve as a Russian military base, effectively surrendering national sovereignty to the Kremlin in order to maintain its grip on Belarus, while brutally oppressing the Belarusian people in order to stay in power; deplores the Lukashenka regime’s instrumentalisation of migration, particularly in the light of the influx of thousands of migrants into Poland, which Belarus orchestrates to force their passage into the European Union;

     the illegal North Korean involvement in the Russian war of aggression against Ukraine by its sending of military equipment and ammunition to Russia, as well as by its sending of thousands of soldiers to wage war against Ukraine;

     North Korea’s continued weapons testing and development of its nuclear programme, in violation of the UN resolution, further escalating tensions in the Indo-Pacific region; demands that North Korea abandon its weapons of mass destruction and ballistic missile programmes in a complete, verifiable and irreversible manner; urges the North Korea authorities to cease their ongoing crimes against humanity and to undertake a process of reform whereby all human rights are respected and protected;

     the increasing malicious activities, interference and hybrid warfare deployed by the Russian Federation, its institutions and proxies in undermining and subverting the democratic stability and sovereignty of Georgia and the Republic of Moldova and in particular the recent interference in the constitutional referendum on EU accession and the presidential elections;

     the attack on Kosovan police officers by well-organised Serbian paramilitaries in Banjska/Banjskë in the north of Kosovo on 24 September 2023 which resulted in the death of the Kosovan police officer Afrim Bunjaku and the injuring of two more Kosovan police officers; condemns the hideous terrorist attack on critical infrastructure near Zubin Potok; stresses that the perpetrators of these deplorable attacks must be held accountable and face justice without delay;

     the brutal and indiscriminate terrorist attacks committed by Hamas across Israel on 7 October 2023, which triggered a disproportionate Israeli military response and a conflict in Gaza that has a devastating effect on civilians and caused a catastrophic humanitarian situation;

     the fact that Hamas has taken and is still holding innocent people, including women and children, hostages, and calls for the unconditional and immediate release of hostages;

     the deliberate and malignant fuelling of an exceptionally tense situation, through repeated attacks targeting Israel since 7 October 2023, by state and non-state actors in the region with Iran being the main instigator, as well as the Houthis in Yemen and Hezbollah in Lebanon acting as some of its proxies;

     Iran’s persistent non-compliance with its legal safeguard obligations under its Comprehensive Safeguards Agreement and with its commitments under the Joint Comprehensive Plan of Action (JCPOA) condemns, further, the advancement of its nuclear programme beyond all credible civilian justification and the destabilisation of the Middle East this causes, including through proxies, such as attacks on Israel and sponsoring terrorism and civil conflicts; the attacks perpetrated or attempted within the EU by terrorist organisations and networks affiliated to Iran;

     the wrongful detention of European citizens in Iran, the execution of the European citizen of dual German-Iranian nationality Jamshid Sharmahd on 29 October 2024, and the brutal oppression of the people of Iran, in particular the women; reiterates its unwavering support for the women of Iran, who are still subjected to gross violations of their fundamental rights two years after the Women, Life, Freedom movement was brutally repressed; urges the VP/HR to do the utmost to free these citizens and to put an end to the practice of Iranian hostage diplomacy, through which it detains foreign civilians and dual nationals;

     the growing military cooperation between Iran and Russia, in particular the intention to sign a treaty on a comprehensive strategic partnership and Iran’s provision of drones and ballistic missiles to Russia for use against Ukraine and its people;

     the recent adoption of the law on the ‘promotion of virtue and prevention of vice’ in Afghanistan, as well as the systematic violation of human rights and fundamental freedoms, in particular the extreme interpretation of sharia which erases women from public life, bars them from working, hinders their access to all public places without being chaperoned by a male relative and to education beyond the sixth grade, amounting to gender apartheid; demands from the de facto authorities of Afghanistan that all gender-based restrictions on women be lifted and stresses that this must be a key condition for any engagement of the international community with the Taliban; insists on maintaining strict, conditional engagement with the Taliban based on the five benchmarks set by the Council for engaging with the de facto authorities and by holding the perpetrators of these grave violations of girls’ and women’s rights accountable, including through restrictive measures;

     the increasing breadth and intensity of operations, including cyberattacks and foreign information manipulation by the Chinese Government, as well as vessels and aircraft attempting to intimidate China’s neighbours, which violate peace and stability in the Taiwan Strait and surrounding international waters and impede the freedom of navigation rights of all other parties; strongly condemns statements by the Chinese President that the People’s Republic of China will never renounce the right to use force with respect to Taiwan, and insists that the use of coercive measures to achieve unification contradicts international law;

     the government-led system of forced labour and the persistent violations of human rights, in particular the systematic repression of Uyghurs in Xinjiang Province; observes with concern the intense crackdown on ethnic minorities in Tibet, Hong Kong and Macau and the transnational repression of Chinese dissidents, as well as the persistent presence of Chinese police officers on EU territory; has taken note of and deplores the People’s Republic of China (PRC) for not implementing the recommendations of the Office of the High Commissioner for Human Rights (OHCHR); calls on the PRC to allow the OHCHR independent access to the Xinjiang Uygur Autonomous Region and invites the OHCHR to issue a comprehensive situational update and an action plan for holding the PRC accountable;

     the deterioration of stability in the Sahel, exacerbated by the numerous military coups in the region in recent years; recalls that stability in the Sahel has direct repercussions for the security of European external borders and the management of irregular migration flows from the African continent; emphasises that the EU should urgently review its regional strategy for the Sahel;

     the coups in Burkina Faso and in Niger, with President Bazoum being detained and the constitution suspended; is increasingly concerned by the decision of the central Sahel military regimes in Burkina Faso, Mali and Niger to leave the Economic Community of West African States (ECOWAS), thus plunging ECOWAS into a deep political crisis; condemns additionally the physical attack on 29 September 2024 on an ECOWAS Member of Parliament and other participants of an officially declared opposition rally in Lomé; calls on the Togolese authorities to ensure the promotion and protection of the fundamental principles of human and peoples’ rights enshrined in Article 4 of the revised ECOWAS Treaty, such as the rights of peaceful assembly, freedom of association, belief and expression; calls on the ECOWAS authorities and its member states to support the efforts needed to safeguard the principles of the African Charter on Human and Peoples’ Rights throughout the subregion; takes note of the closure of the European Union Military Partnership Mission in Niger (EUMPM Niger) and of the Capacity Building Mission in Niger (EUCAP Sahel Niger) and the non-renewal of the European Union Training Mission in Mali (EUTM); observes with concern how Russia has intensified the development of state-to-state relationships and cooperation initiatives with African states through military cooperation and a commitment to cooperate on the development of nuclear energy; condemns the rise of terrorist attacks and heavy civilian losses in the Sahel, as well as the presence and predation activities of Russian paramilitaries, which have led to the population being displaced and an influx of refugees, also caused by the instability in the region; deplores the fact that the void UN peacekeepers have left has effectively been filled by Wagner Group mercenaries and Russian and Turkish military, whose industries supply arms to Sahelian capitals;

     the civil war in Sudan, the devastating consequences for the civil population, the atrocities committed against them and, in particular, the despicable large-scale use of rape as a weapon of war;

     the last minute tactical and technical constraints imposed by the authorities of the Democratic Republic of Congo (DRC), which prevented the EU Election Observation Mission from monitoring the presidential elections; condemns the violence committed by the Rwanda-backed M23 rebel movement destabilising the eastern DRC; calls for a review of the EU strategy for the Great Lakes region;

     the authoritarian regime of Daniel Ortega and Rosario Murillo, who are systematically undermining Nicaragua’s democratic structures; recalls that the regime in Nicaragua maintains strong ties with other autocracies, such as those in Iran, Venezuela and Cuba; condemns the systematic human rights violations and abuses perpetrated by the Cuban regime; strongly condemns and fully rejects the electoral fraud orchestrated by the regime in Venezuela and demands that the Maduro government cease its policy of repression and attacks on civil society and the opposition; recalls that on 19 September 2024, Parliament recognised Edmundo González Urrutia as the legitimate and democratically elected President of Venezuela and María Corina Machado as the leader of the democratic forces in Venezuela; highlights the fact that various democratic states in the region and throughout the world have recognised González as president-elect; recalls that he should have been sworn in on 10 January 2025; expresses satisfaction that on 17 December 2024, Parliament awarded the 2024 Sakharov Prize for Freedom of Thought to María Corina Machado, as the leader of the democratic forces in Venezuela, and to president-elect Edmundo González Urrutia, representing all Venezuelans inside and outside the country fighting for the reinstitution of freedom and democracy;

     the employment of the ‘Cuban medical brigade’ in some European countries as a form of infringement of fundamental rights and freedoms and of slavery and forced labour;

     the risk of collapse of the state structures and difficult humanitarian situation in Haiti due to rampant gang violence;

     the fact that the PRC, Russia, Iran and other totalitarian or authoritarian regimes use information manipulation and malign interference as integral instruments to exert pressure on multilateral institutions and democratic values and norms, to abuse power, to increase the incidence and severity of human rights violations, to constrict spaces for civil society, independent media and democratic opposition movements, to spread anti-Western disinformation and to use various forms of transnational repression to intimidate and constrict spaces for civil society, independent media and democratic opposition movements in the diaspora;

     the increasing attacks, harassment, arbitrary detention, torture and killings of HRDs worldwide, especially those advocating for environmental, indigenous, women’s, LGBTQI+ and anti-corruption rights; further notes the increasingly sophisticated tactics used by state and non-state actors, including digital surveillance and smear campaigns, aimed at silencing HRDs; stresses the urgent need to protect HRDs, who also play a critical role in upholding democracy and the rule of law globally; calls for enhanced support and protection mechanisms for HRDs facing threats, harassment and violence, especially those in high-risk areas or working on sensitive issues such as environmental, indigenous and women’s rights;

     attempts to circumvent EU and international sanctions, which it sees as strategies posing direct threats to the international rules-based order;

     the failure by Azerbaijan to comply with the order of 17 November 2023, issued by the International Court of Justice, indicating provisional measures regarding the safe, unimpeded and expeditious return of the 100 000 ethnic Armenians who fled Nagorno-Karabakh after the September 2023 pre-planned, unjustified military attack by Azerbaijan, as well as the refusal of Azerbaijani authorities to release all 23 Armenian prisoners of war it currently detains; stresses the need to support all initiatives and activities that could lead to the establishment of peace between Armenia and Azerbaijan and the signing of a long-awaited peace agreement; calls, further, on Azerbaijan to demonstrate genuine efforts to this end; warns Azerbaijan that any military action against Armenia would be unacceptable and would have serious consequences for the partnership between Azerbaijan and the EU; highlights the fact that Azerbaijan’s connectivity issues with its exclave Nakhchivan should be resolved with full respect for the sovereignty and territorial integrity of Armenia; reiterates its position that the EU should be ready to impose sanctions on any individuals and entities that threaten the sovereignty, independence and territorial integrity of Armenia; stresses that Parliament’s multiple warnings on the situation have not led to any change in the EU’s stance towards Azerbaijan; calls for the EU to end its reliance on gas exports from Azerbaijan; calls on the Commission to suspend the 2022 memorandum of understanding on the strategic partnership in the field of energy and to act accordingly; condemns the Russian ‘gas laundering’ through Azerbaijan and the Azerbaijani authorities’ facilitation of Russia’s circumvention of EU sanctions; calls for the EU to cease all technical and financial assistance to Azerbaijan that might contribute to strengthening its military or security capabilities; calls on the Member States to freeze exports of all military and security equipment to Azerbaijan; condemns Azerbaijan’s repeated attempts to denigrate and destabilise Member States, including through the so-called Baku Initiative Group; condemns the ongoing deterioration of the human rights situation in the country;

    5. Concurs with:

     the need to improve relations with Türkiye; welcomes the partial de-escalation of tensions in the east Mediterranean and the Aegean but reiterates its concern that Türkiye’s foreign policy continues to be at odds with EU priorities under the CFSP; recalls, in this context, the signature and the evocation of the memorandum of understanding between Türkiye and Libya on comprehensive security and military cooperation and on the delimitation of maritime zones;

     the call on Türkiye to work on a constructive, and not assertive nor aggressive, approach in its neighbourhood, including the Southern Caucasus; regrets that Türkiye continues to dispute the sovereignty and sovereign rights of an EU Member State; recalls that Türkiye’s accession process is contingent on its full compliance with the Copenhagen criteria and on its normalisation of relations with all EU Member States, including the Republic of Cyprus; calls for the status of the buffer zone and the mandate of the UN Peacekeeping Force in Cyprus to be respected; urges Türkiye and the Turkish Cypriot leadership to cease and reverse all such unilateral activities and refrain from any further actions and provocations; calls for engagement in peaceful UN-led negotiations and for real progress to be made in the Cyprus settlement talks;

     the assessment that,  in the absence of a drastic change of course by the Turkish Government, Türkiye’s EU accession process cannot be resumed;

     the urgent need for the EU and the Turkish Government to move forward toward a mutual reflection process, including a modernised association agreement, which would lead to a mutually beneficial, more dynamic and strategic partnership, with strict conditionality on the respect of rule of law, fundamental rights, international law, including the United Nations Convention on the Law of the Sea, and good neighbourly relations, considering the key role played by Türkiye, for example, in the Black Sea region and its significance as a NATO ally;

     the fact that Türkiye is making an inadequate effort in aligning with the EU’s CFSP, including on sanctions and the anti-circumvention of sanctions, as well as with the need for Türkiye to cooperate closely with the EU’s Sanctions Envoy; deplores the unacceptable nature of the solidarity and support that the President of Türkiye has publicly provided to the terrorist organisation Hamas; reiterates its concerns about the ongoing deterioration of democratic standards in Türkiye; recalls that Türkiye also targets the EU with foreign information manipulation and interference and that its government is considering introducing a Russian-style foreign agents law; underlines the incompatibility between Türkiye’s candidacy for BRICS+ and the EU’s CFSP;

     the concern over democratic backsliding in Georgia, manifested by the fact that the parliamentary elections held on 26 October 2024 did not respect international standards for democratic elections or its commitments as a member of the OSCE to carry out free and fair elections; emphasises that violations of electoral integrity are incompatible with the standards expected from an EU candidate country; considers that the reported electoral fraud undermines the integrity of the election process, the legitimacy of the results and the public’s trust in the government and that the results do not serve as a reliable representation of the will of the Georgian people; considers that, with the legitimacy of the vote severely undermined by the magnitude of the violations, the international community should not recognise the election results; rejects, therefore, any recognition of the parliamentary elections and does not recognise any decisions taken by the body that has taken control of the country; calls urgently for early elections conducted in an improved election environment, managed by an independent and impartial election administration with widespread international observation, to ensure a genuinely free, fair and transparent process that would represent the will of the people of Georgia; concurs with the European Council’s conclusions of 27 June 2024 that a failure to reverse the current course of action, including the law on ‘transparency of foreign influence’, the law on ‘family values and protection of minors’, as well as the changes to the Electoral Code, jeopardises Georgia’s EU path, de facto leading to a halt of the accession process; appreciates, at the same time, the efforts made by Georgian President Salome Zourabichvili to steer the country back towards a democratic and European path of development; considers that President Salome Zourabichvili is currently the only clearly legitimate representative of the will of the Georgian people; reiterates its unwavering support for the Georgian people’s legitimate European aspirations, which are being betrayed by the Georgian Government; demands the immediate release of all people detained for peacefully protesting against the recent decisions by Georgia concerning a suspension of EU integration; calls on the Commission to use the frozen EUR 120 million originally intended as support for the Georgian authorities to enhance the EU’s support for Georgia’s civil society, in particular the non-governmental sector and independent media, which are increasingly coming under undue pressure from the ruling political party and the authorities, as well as to support programmes supporting democratic resilience and electoral integrity; strongly encourages the EU and its Member States to introduce personal sanctions against all those who are responsible for the democratic backsliding, in particular Bidzina Ivanishvili and Irakli Kobakhidze; encourages individual Member States and relevant regional organisations to avoid actively legitimising the self-appointed Georgian Dream authorities and call, in this regard, for suspending the EU Georgia Association Council;

     the observation that Russia and China have become significant players in the Southern Neighbourhood, especially North Africa, while Türkiye and the Gulf states, chief among them the Kingdom of Saudi Arabia, Qatar and the United Arab Emirates, have risen as regional forces; argues that the idea of a single ‘neighbourhood’ for both Eastern and Southern Europe overlooks their distinct challenges; concurs further with the strategic relevance of the Southern Neighbourhood, its stability, economic development and prosperity; recalls that instability and insecurity in the Southern Neighbourhood remains an ongoing challenge for European external border management; underlines the interference of strategic competitors in the region and calls strongly for the EU to send a solid and clear political message in favour of renewed cooperation with countries of the Southern Neighbourhood; calls on the VP/HR and the Commission to release, as an urgent matter, the new pact for the Mediterranean and to secure adequate resources for its timely and effective implementation; reiterates that a dynamic network of strategic partnerships tailored to the specific needs and aspirations of each country in our Southern Neighbourhood should be at the centre of the new pact; believes, in this context, that the EU should conduct a thorough review of the current incentive structure that combines the promise of financial assistance and trade benefits in exchange for political and economic reforms and ensure that it aligns with broader EU objectives, including the promotion of human rights and democratic values; stresses that besides prioritising bilateral cooperation, the EU should also continue to foster regional cooperation through existing frameworks such as the Union for the Mediterranean, which offers a valuable platform for promoting dialogue and joint action on issues of common concern;

     the concern about Russian and Chinese pressure exerted in Central Asia and stresses the need to scale up the EU’s presence in the region in response, given its geostrategic importance; highlights the hesitation of Central Asian states to lend support to Russia’s war of aggression given the effect the war is having on the region; underlines the EU’s interest in increasing economic relations and intensifying political ties with the countries of Central Asia, in part to address the circumvention of sanctions against Russia and Belarus; calls on the authorities of the Central Asian states, particularly Kazakhstan, Kyrgyzstan and Uzbekistan, to cooperate closely with the EU, in particular with its Sanctions Envoy; encourages the Commission and the Member States to continue promoting political and economic reforms that strengthen the rule of law, democracy, good governance and respect for human rights;

     the fact that the Arctic is of geostrategic importance as regards the expansion of potential maritime routes, access to natural resources, climate conservation and territorial claims; stresses that this importance is heightened not only by Russian military expansion in the High North but also by China’s increasing presence and interest in the region, and its self-proclamation as a ‘near-Arctic state’; underscores the need for ensuring freedom and safety of navigation amid these two states’ growing influence and militarisation; underlines the importance of preserving security, stability and cooperation in the Arctic; stresses that the region must remain free from military tensions and natural resource exploitation, while respecting the rights of indigenous peoples; reiterates the need to include the EU’s Arctic policy in the CFSP and engage in effective cooperation with NATO; calls for the Arctic to be addressed regularly within the Political and Security Committee and Council meetings;

     the strategic importance of the Taiwan Strait and the Indo-Pacific in the face of increasing Chinese intimidation in the region, including through military and hybrid means, and stresses the need to scale up the EU’s presence in the regions in response; underlines the EU’s interest in increasing economic relations and intensifying substantial ties with like-minded partners in the region, including Taiwan;

     the effectiveness of the implementation of a Gulf strategy, advancing in a strategic partnership with each of the Gulf countries and working together to promote global and regional security and prosperity;

     the focus on achieving accountability in the cyberspace, through the operationalisation of the EU digital diplomacy toolbox and the attention given to strengthening global cyber resilience; calls for an increased focus on building the cyber resilience capacity of developing democracies faced with hybrid challenges to their electoral systems; calls for increasing joint cyber defence exercises between the EU and NATO in order to improve interoperability and readiness to counter hybrid threats;

     the commitment to place democracy promotion at the forefront of the CFSP and to ensure the EU’s proactive role in this regard, building on lessons learned from previous democracy support actions, in particular in support of civil society, HRDs, critical voices, democratic opposition and media;

     the need to fight impunity and strengthen accountability efforts globally, including through the ICC, and to stand up for international law and international humanitarian law; remains deeply concerned about the trend of state officials undermining decisions of international institutions and their employees; regrets the failure of some ICC member states to execute ICC arrest warrants, thereby undermining the ICC’s work;

     the urgent and ongoing need to promote gender equality and women’s empowerment through all EU external action a foreign policy that takes into account gender mainstreaming in line with the 2021-2025 Gender Action Plan, especially in light of the current global rollback of women’s rights; emphasises that at the current rate of progress, achieving gender equality worldwide will take another 131 years, underscoring the critical importance of accelerating efforts to safeguard and advance women’s rights and opportunities;

    II. CFSP objectives in 2025

    6. Identifies, in the following section, Parliament’s CFSP objectives in 2025, thus complementing the views expressed in the VP/HR’s annual CFSP report;

    Addressing the global consequences of the Russian war of aggression against Ukraine

    7. Emphasises that Russia’s war of aggression against Ukraine and its consequences, including economic uncertainty, food insecurity and high energy prices, in combination with the revisionist behaviour of the Russian Federation against a number of states neighbouring the Black Sea, destabilises and threatens the Eastern Neighbourhood and the Western Balkans, which in turn erodes the European security architecture; underlines, in this context, the need for reinforcing the EU’s capacities to support democratic institutions in our immediate neighbourhood;

    8. Notes that the EU’s response to the Russian war of aggression against Ukraine is being closely watched by autocratic actors around the world and will have a decisive influence in shaping their behaviour on the international stage; is concerned by the growing cooperation and coordination among autocratic regimes, including through their material or other support for Russia’s aggression against Ukraine; urges the Council to impose restrictive measures against countries that deliver military goods, such as unmanned aerial vehicles and surface-to-surface missiles, to the Russian Federation for use against civilian targets; recalls that the use of such military goods against civilian targets is a war crime; notes, with grave concern, the increasing cooperation between the Russian Federation and the Democratic People’s Republic of Korea (DPRK), and underscores that the employment of North Korean troops by Russia is widening the scale of the conflict; emphasises, equally, the urgent need for further sanctions against Belarus, mirroring all sanctions against Russia;

    9. Calls for the EU and its Member States to meaningfully increase and speed up humanitarian assistance, military support, economic and financial aid and political support in every possible way until Ukraine’s victory, in order to ultimately stop Russia’s war of aggression and allow Ukraine to liberate all its people and re-establish full control within its internationally recognised borders; welcomes the rapid creation and successful implementation of the European Union Military Assistance Mission in support of Ukraine and suggests that the EU consider strengthening it; underlines, in particular, the urgent need to provide Ukraine with increased air defence and surface-to-surface capacities to defend its critical energy infrastructure, and calls on the Member States to immediately lift restrictions on the use of Western weapons systems, such as long-range Taurus missiles, delivered to Ukraine, against legitimate military targets on Russian territory, which would be fully in line with Ukraine’s right to self-defence according to the UN Charter;

    10. Calls for the EU and the Member States to reinforce the effectiveness of its 15 sanction packages adopted so far and to agree on new ones as soon as the need arises; recalls that the strict implementation and uniform application of restrictive measures in all Member States is a precondition for the credibility and effectiveness of the EU’s external action; underscores, thus, the importance of ending all EU imports of Russian energy; calls on the Commission to impose penalties on all European companies that continue to engage in business with the Russian Federation, as well as to further assess and combat sanction circumvention;

    11. Appeals for proactive diplomacy with non-EU countries in order to minimise the circumvention of these sanctions; calls on the Commission to critically assess EU assistance to non-EU countries that actively support Russia’s aggression against Ukraine and urges the Council to impose restrictive measures on non-EU countries enabling Russia’s war of aggression, whether through the facilitation of sanction circumvention or through the provision of direct military assistance, such as in the case of Iran or North Korea; calls on all countries to fully align with all EU sanctions packages;

    12. Deplores the ‘no limits’ partnership between Russia and China, in particular the renewed commitment to strengthen their military ties; welcomes the Council’s decision to impose sanctions on Chinese companies for their support of Russia’s war in Ukraine;

    13. Expresses its most serious concerns over Russia’s and China’s surveillance and sabotage of critical maritime infrastructures, such as seabed communication cables and offshore energy facilities; expresses in particular its strong concern about the damage to two subsea communications cables, one linking Finland and Germany and the other connecting Sweden to Lithuania, within less than 24 hours on 17 and 18 November 2024, and about the damaging by a tanker of the Russian shadow fleet of the EstLink2 power cable, linking Estonia and Finland, on 25 December 2024; calls on the EU to put in place effective monitoring and surveillance systems and regional coastguard cooperation to ensure the prevention and rapid detection of attacks against such infrastructures; welcomes in that regard, the launch of the operation ‘Baltic Sentry’ by NATO, with the participation of several Member States, to improve the security of critical undersea infrastructures in the Baltic Sea; calls on Member States to fully abide by the commitments of the New York joint statement on the security and resilience of undersea cables,

    14. Calls for the EU and its Member States to exercise strict control over, prevent and limit the activities of Russia’s shadow fleets which, in addition to violating EU and G7 sanctions, poses an immense ecological threat to ecosystems as a result of its technical deficiencies and frequent breakdowns; urges the Commission to take swift action, within the framework of the EU’s cooperation with the International Maritime Organization, and to design more targeted sanctions against the shadow fleet in the next sanctions package against Russia; specifies that such sanctions should designate all possible individual shadow fleet vessels, as well as their owners, operators, managers, etc.; recommends banning tanker sales to countries facilitating trade with Russia; notes that the flag states contributing to the Russian shadow fleet are thereby also helping the Russian war effort;

    15. Reiterates its call for the necessary measures to be taken to return forcibly deported and illegally adopted Ukrainian children from Russia or occupied Ukrainian territory;

    16. Calls on the Commission and the Council to designate the Russian state-funded private military Wagner Group as a terrorist organisation; draws attention to the so-called ‘Africa Corps’ that was created following the death of the Wagner Group’s former leader Yevgeny Prigozhin, in August 2023, and placed directly under the control of the Russian Ministry of Defence, in an effort to regroup Wagner elements under government control;

    17. Expresses its unwavering support for the 10-point peace formula  put forward by Ukraine’s President Volodymyr Zelenskyy and recalls that any initiative, in particular diplomatic solutions, aimed at ending the Russian war of aggression and achieving a just and lasting peace needs to be based on terms and input provided by Ukraine and ultimately accepted by the Ukrainian people; encourages the Commission and the VP/HR, as well as the Member States, to mobilise international support for the peace formula and the victory plan presented by Ukraine and to engage in security commitments towards Ukraine as recommended in the Kyiv Security Compact;

    18. Reiterates that Ukraine, as a victim of aggression, has the legitimate right to self-defence in line with Article 51 of the UN Charter; calls on the VP/HR, the Commission the Council and the Member States concerned to enable effective Ukrainian countermeasures against Russia; recalls that Russia has violated international law and that the full seizure of the frozen Russian assets is an appropriate step towards enforcing Russia’s obligation to abide by international law, and to compensate Ukraine and other injured parties for the losses caused by Russia’s war of aggression; calls on the Commission to establish a sound legal regime for the confiscation of Russian state assets frozen by the EU; reminds the Commission that any such proposal does not take away the need for continued financial, political, military and humanitarian support; calls for the inclusion of all assets of the Russian state, Russian local authorities, Russian state-owned companies, and of individuals on the EU sanctions list, and for those assets to be used to compensate Ukraine  for the damage caused by this war;

    19. Commends the Commission’s proposal to establish the Ukraine Loan Cooperation Mechanism, worth an estimated EUR 35 billion, which responds to Parliament’s call and builds upon the decision of the Council to direct extraordinary revenues stemming from immobilised Russian state assets to the Ukraine Assistance Fund and the Ukraine Facility, as well as upon the G7’s decision to offer Ukraine a USD 50 billion loan secured through immobilised Russian state assets; expresses its conviction that the new Ukraine Loan Cooperation Mechanism is a substantive step towards making Russia financially compensate for the massive damage it continues to cause in Ukraine;

    20. Denounces the abusive use by the Hungarian Government of its veto power to delay or effectively block EU essential aid from being granted to Ukraine; condemns the misuse of the position of the EU Presidency by Viktor Orban, in pursuing his so-called peace-mission to the Russian Federation on 5 July 2024, which was an attempt to undermine the unified EU position on Ukraine, and stresses that he did not to any degree or in any capacity represent the EU;

    21. Urges the VP/HR and the other Member States to overcome the blockade by the Hungarian Government of the EPF’s funding and disbursement decision and to guarantee that the EU’s only instrument in support of military aid to Ukraine becomes fully functional again; calls on the VP/HR to advance proposals to prevent such blockades in the future or to find an alternative mechanism that is fully reliable;

    22. Underscores the urgent need for the EU and its Member States to push for the creation of a special international tribunal to prosecute the crime of aggression committed against Ukraine by the political and military leadership of the Russian Federation and its allies; expresses support for all the activities of the ICC and International Court of Justice in prosecuting the crimes committed on Ukrainian territory;

    23. Commends Ukraine for its progress in the EU accession screening process and calls on Ukraine to continue its progress towards EU membership using all the resources made available to it under the Ukraine Facility and to ensure the meaningful involvement of its civil society in the implementation and monitoring phases thereof; recalls that EU accession is a strictly merit-based process that requires the fulfilment of the Copenhagen criteria for EU membership, including those concerning democracy, the rule of law, and fundamental values and the fight against corruption;

    24. Believes that both Ukraine’s and Moldova’s accession to the EU would be a mutually beneficial investment in a united and strong Europe; stresses that the newly proposed growth plan for the Republic of Moldova serves the purpose of accelerating EU-related reforms; calls on all co-legislators to advance the relevant legislative acts as soon as possible; encourages the VP/HR to additionally enhance the CFSP partnership with Ukraine and Moldova and in this context welcomes the signature of the security and defence partnership between the EU and Moldova in May 2024; recalls the fact that the security of the Republic of Moldova is inextricably linked to the security of Ukraine; underscores, hence, the need to increase financial contributions from the EPF to further enhance Moldova’s defence capabilities;

    25. Praises the Moldova for running the presidential election and the referendum professionally and with an extraordinary sense of duty and dedication, despite the continued massive interference from Russia and its proxies; welcomes the outcome of the 2024 Moldovan European Union membership referendum which enshrined the commitment to joining the EU in the country’s constitution; expresses its support to Moldova in defending its democracy; strongly condemns such constant and coordinated attempts by the Russian Federation, pro-Russian oligarchs and Russian-sponsored local proxies to destabilise the Republic of Moldova, sow divisions within Moldovan society and derail the country’s pro-European direction through hybrid attacks, the weaponisation of energy supplies, disinformation campaigns, bomb threats and staged protests as well as the threat or use of violence; commends the establishment and operations of the EU Partnership Mission in Moldova which have enhanced the Moldovan authorities’ capabilities to address Russian interference; calls on the Council, the Commission and the EEAS to provide the additional resources, including human and financial resources, equipment and civilian experts, necessary to continue implementing the mission’s mandate beyond May 2025;

    26. Stresses the importance of the EPF for enhancing the EU’s ability to prevent conflicts, build peace and strengthen international security;

    27. Welcomes the launch of the Belarus-EU consultative group to enable continuous dialogue between the EU and the Belarusian democratic forces; reiterates its support for the release of all political prisoners and the brave activists and journalists in Belarus who continue to resist the regime of the illegitimate leader in spite of ongoing crackdowns, notably the refusal to renew the passports of Belarussians abroad, and who have expressed their desire for democratic development in Belarus and for membership of the EU, including at the New Belarus Conference held in Warsaw in August 2023; underlines that such efforts demonstrate the fundamental role of civil society in strengthening democracy;

    Resolving conflict and supporting peace in the Middle East

    28. Affirms the right of Israel to defend itself as enshrined in and constrained by international law; recalls that Israel has the obligation to address the risk of mass starvation and the outbreak of disease epidemics in Gaza; recalls that Israel also has the obligation to protect the civilian population and that military operations must be proportionate and in line with international humanitarian law; expresses in the strongest terms its concern about the disproportionate military action by the Israeli Defence Forces in the Gaza Strip and in the West Bank and in Lebanon; calls for an immediate and permanent ceasefire including the unconditional release of all hostages;

    29. Reiterates its unwavering support for a negotiated two-state solution on the basis of the 1967 borders, with two sovereign, democratic states as peaceful neighbours and with Jerusalem as their shared capital, which remains the most viable path to lasting peace and security for both Israelis and Palestinians; calls for the VP/HR to support all efforts to this end, and in particular the Global Alliance for the Implementation of the two-State Solution; calls on all parties to renew efforts to remove the obstacles to this solution and to engage in dialogue aimed at achieving mutual understanding and respect; regrets the fact that the Palestinian Authority has not held elections since 2005, which hampers its credibility, and expects elections to be held soon; is convinced that there can be no prospect for peace, security, stability and prosperity for Gaza as well as for reconciliation between the Israeli and Palestinian populations as long as Hamas and other terrorist groups play a role in the Gaza Strip; calls, therefore, on the EU Special Representative for the Middle East Peace Process to support efforts to counteract the further radicalisation of young people in the region; condemns the acceleration of the illegal Israeli settlement of Palestinian territory, which violates international law, undermines efforts towards achieving a two-state solution, and poses a significant obstacle to lasting peace; reiterates in this context the important role of the Abraham Accords as a framework for achieving durable peace, stability and prosperity in the Middle East; expresses concern over the rising violence committed by Israeli forces and extremist settlers in the West Bank and East Jerusalem and welcomes sanctions adopted against extremist Israeli settlers; supports President Biden’s three-phase peace plan and regrets the lack of will on both sides to ensure its implementation; regrets, further, that the latest rounds of peace talks did not bring any tangible results; is aware of the fact that international stakeholders, including the US, the UN, the EU and Arab states, need to complement each other’s efforts in order for negotiations to resume and to be constructive; is committed to the future normalisation efforts between Israel and Arab states in the region;

    30. Supports a just and viable solution to the question of Palestinian refugees; underscores that the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) plays an important role in providing humanitarian aid and essential services which in the present circumstances must not be interrupted, and considers that all UN agencies active in the region must be supported in their efforts; recalls, however, its concern regarding serious allegations made against staff members of UNRWA which suggest that UNRWA has employed members of the terrorist organisation Hamas; welcomes the actions taken by the UN following the allegations regarding the Agency’s staff and welcomes UNRWA’s full commitment to implement the recommendations stemming from the ‘Colonna report’; echoes the European Council conclusions of 17 October 2024 which condemn any attempt to abrogate the 1967 agreement between Israel and UNRWA; insists that the Commission ensure that no funds from the EU budget finance, contribute to or support the activities of Hamas or Hezbollah; stresses that additional measures may be needed in the future to strive for even more transparency and accountability;

    31. Welcomes the recent ceasefire in Gaza and the progress made towards the phased release of hostages; emphasises that this represents a significant step towards relieving the immense suffering endured by civilians on both sides over the past months; praises the commitment of mediators, including the US, Egypt and Qatar, whose efforts were pivotal in achieving this breakthrough; considers that it is crucial that all obligations made under the deal are upheld, ensuring the release of all hostages and establishing a lasting cessation of violence, as well as allowing unrestrained access for humanitarian and medical assistance into the Gaza Strip; calls for all parties to fully commit to their obligations and to prioritise the protection of civilians; urges all European and international actors to actively oversee the implementation of the ceasefire and hold accountable those who fail to comply;

    32. Expresses concern about rising tensions in the Middle East and urges all involved parties to uphold international humanitarian law, to show maximum restraint and to commit to de-escalation, as a regional conflict must be avoided at all costs; deplores the loss of thousands of civilian lives; urges the disarmament of Hezbollah as part of broader measures to reduce hostilities and ensure regional stability; calls on the VP/HR to come forward with a comprehensive EU Middle East strategy, to increase the EU’s effective presence in the region, to promotes long-term stability and peace in the region and to strengthen partnerships with key regional stakeholders; stresses that the strategy must be fleshed out within the first months of the new Commission’s mandate and should be reflected in the forthcoming MFF for it to have any tangible impact on a rapidly deteriorating situation; underscores the need for Member States to step up their diplomatic efforts with international partners, including with the Gulf countries, in order to encourage urgent de-escalation and meaningful dialogue; underlines the need to prioritise and strengthen civil society organisations in the region, particularly organisations working on the protection of human rights and peacebuilding;

    33. Strongly condemns the destabilising role that the Iranian regime and its network of non-state actors play in the region; recalls that Iran has stepped out of the shadow of its proxies and condemns Iran’s two direct and open attacks on Israel’s territory in 2024, to which Israel retaliated both times, representing an unprecedented scaling up of the conflict; strongly condemns Hezbollah’s attacks against Israel which led to an Israeli ground invasion in Lebanon causing a high number of civilian casualties, forced displacement and escalating violence in Lebanon; takes note of the ceasefire between Israel and Hezbollah, agreed on 27 November 2024 for a period of 60 days; urges Israel to withdraw from southern Lebanon in line with UN Security Council Resolution 1701; recalls the need for a permanent cessation of hostilities as soon as possible to create space for a diplomatic solution along the Blue Line; demands the implementation of UN Security Council Resolution 1701 in its entirety, as the only path to de-escalate tensions and stabilise the Israel-Lebanon border in a durable manner and fully restore the sovereignty, territorial integrity and stability of Lebanon;

    34. Calls on the Council and the VP/HR to add Hezbollah in its entirety to the EU list of terrorist organisations;

    35. Takes note of the arrest warrant issued by the ICC on 21 November 2024;

    36. Highlights the need for the EU to follow up on its election observation and assist in finding solutions to electoral crises such as the one in Lebanon;

    37. Strongly condemns recent attacks against the UN Interim Force in Lebanon (UNIFIL) by the Israeli Defence Forces and Hezbollah; reiterates the inviolability of all UN personnel and premises and reaffirms the essential stabilising role played by UNIFIL in southern Lebanon, to which 16 Member States contribute, and calls for an immediate end to these attacks;

    38. Welcomes the EU’s decision to renew sanctions against Iran until July 2025, including by sanctioning Iran’s production of unmanned drones and missiles and its supply thereof to Russia and the wider Middle Eastern region; highlights the strong links between Iran and the Iranian Revolutionary Guard Corps (IRGC), its proxies such as the Houthis and militias operating in Iraq and Syria; strongly condemns the high number of terrorist and assassination attacks, or attempted attacks, perpetrated by the IRGC all over the world, including on European soil, over the past few decades; reiterates its call for the IRGC to be added to the EU list of terrorist organisations; points out that the sanctioning options that have not yet been exhausted include a much more restrictive approach to technology transfers through exports of products that are not categorised as ‘dual-use’;

    39. Strongly condemns the destabilising Houthi attacks against commercial vessels transiting the Red Sea; stresses that these have caused significant disruption to global trade as shipping companies are forced to reroute much of the Red Sea’s traffic around the southern tip of Africa; calls for collective action and encourages enhanced EU engagement and international cooperation, and strongly urges for continued action to ensure the freedom of navigation in one of the world’s most critical waterways; calls for the immediate cessation of these illegal attacks;

    40. Shares the objective of preventing Iran from acquiring nuclear weapons at all costs; points, however, to the fact that the regime in Tehran has clearly rejected a revival of the JCPOA and has refused to cooperate in its ongoing dispute with the International Atomic Energy Agency; highlights that, at the same time, Iran has increased its nuclear weapons capability; regrets the fact that there is currently no strategy in place to persuade Iran to refrain from building military nuclear capacity, nor a plan of action for the event that Iran does cross the nuclear threshold; calls upon the VP/HR to put forward a revised strategy towards Iran that prepares for all events;

    41. Expresses concern regarding the inflammatory rhetoric, fuelled by mis- and disinformation, that surrounds this conflict, and its instrumentalisation by malicious actors to sow distrust and hatred including within European societies, as illustrated notably, but not solely, by the worrying rise of antisemitism; warns that it should be a primary focus of the EU fight against disinformation and calls for a coordinated approach by the Commission, taking into account the external and internal dimensions of its policies, including but not limited to the forthcoming strategic communication plan to promote the EU’s role in the Southern Neighbourhood;

    42. Welcomes the historic fall of the Assad regime in Syria; recalls that it only survived so long thanks the support of its Russian and Iranian allies and that its collapse shows they are weakened; welcomes the nomination of a new Chargé d’Affaires of the EU Delegation to Syria, who made early contact with the transition authorities; reiterates its unwavering support for the people in Syria and highlights the need to urgently step up humanitarian aid and protection for the 16.7 million people in need; calls on all parties to contribute to a peaceful and Syrian-led transition towards an inclusive, democratic governance model that ensures the representation, participation and equal rights of women, minorities and all members of Syrian society regardless of ethnicity or religion and that puts the good functioning of the state institutions and the wellbeing of the Syrian people at the heart of their actions; calls on the Commission and the VP/HR to swiftly organise the ninth Brussels Conference on Syria without delay and come up with a comprehensive plan for EU support for the reconstruction of Syria, taking into account the lessons learned from Iraq and Libya, among others; urges the VP/HR to urgently present to the Council an action plan towards the swift yet reversible easing of sanctions that are not linked to the previous regime, with a review process conditional on the progress of the political transition; stresses that the fight against impunity in Syria is a moral and political imperative for Europe and the international community; calls on the EU and its Member States to support the work of the International, Impartial and Independent Mechanism to Assist in the Investigation and Prosecution of Persons Responsible for the Most Serious Crimes under International Law Committed in the Syrian Arab Republic since March 2011; calls on the EU and its Member States to consider the establishment of a special mission, in cooperation with international partners, to help document cases of serious crimes by the Assad regime, as well as by all other factions; stresses the importance of preserving the territorial integrity of Syria, also to help preserve stability in the region; calls on the VP/HR and the Member States to take immediate steps to prevent any re-establishment or reinforcement of Russian forces, paramilitaries or intelligence in the country;

    Incentivising cooperation with like-minded partners

    43. Acknowledges that the requirement for unanimity forces the Member States to work relentlessly to achieve compromise and unity, which is the source of the EU’s political leverage on the world stage; points out, however, that the trade-off between the ideal of unity and the high costs of unanimity in terms of credibility on the global stage should be assessed critically, particularly bearing in mind the effective functioning of an enlarged EU;

    44. Regrets, in this context, the fact that individual Member States have used their veto right to water down agreements, delay decision-making or thwart a common policy altogether; regrets that the potential for fast, efficient and effective foreign, security and defence action, as provided for, inter alia, by the passerelle clauses of the TEU, has never been used;

    45. Reiterates its call for the Council to gradually switch to qualified majority voting for decisions in areas of the CFSP that do not have military or defence implications; acknowledges the concerns of some Member States, which fear a decreased ability to influence foreign and security policy at EU level; encourages, pending the full application of qualified majority voting to decisions without military or defence implications, the full use of all currently existing possibilities to enhance decisiveness in this regard, including the use of constructive abstention in line with Article 31(1) TEU; recognises that progress towards the application of qualified majority voting can only be gradual, building on the formation of a European strategic culture;

    46. Highlights that the world is becoming more multipolar and less multilateral; emphasises that multilateral forums, chief among them the UN and its agencies, should be considered the EU’s format of cooperation of choice; calls on the Member States to reinforce inclusive forms of multilateral governance and encourages, in this context, the Commission, the EEAS and the Council to step up interinstitutional cooperation with multilateral organisations that are integral to the international rules-based order and thereby protect the UN and the multilateral system as a whole; expresses concern, in this respect, about the increasing relevance of exclusive formats of cooperation, which experience increasing competition; expresses concern at the growing membership of the BRICS group, which currently includes 45 % of the world’s population; stresses that such cooperation provides Russia with the means to circumvent measures intended to politically isolate the country and enables China to further extend its influence through its modus operandi of financing infrastructure projects; observes, at the same time, that international institutions and norms are increasingly being instrumentalised and undermined by autocratic regimes; stresses that this trend puts the EU in a delicate position, having to balance the need to appeal for a broad and inclusive concept of multilateralism while reinforcing cooperation with selected, like-minded partners;

    47. Stresses, in this context, that the geopolitical context in which the EU is operating remains marked by radical uncertainty and a shift from cooperation to competition; observes with concern how all types of interaction are being weaponised and notes that this trend impairs international cooperation at a time when global transitions need to accelerate in order to effectively address global challenges; recalls that the EU cannot afford to turn inwards and must remain open and engaged in the world to defend its values and its interests; underlines that, in light of intensified efforts by third countries to destabilise the international order and undermine multilateralism through the spread of disinformation, enhanced cooperation and coordination with like-minded partners is essential;

    48. Calls for the EU institutions and the Member States to actively support a comprehensive institutional reform of multilateral institutions, first and foremost the UN system and particularly the UN Security Council, which should include measures aimed at limiting the use of veto powers, boosting regional representation, making the executive body accountable to the assembly that elects it and redefining the composition to better reflect geopolitical reality, including by establishing a permanent seat for the EU; stresses that such reforms are essential to strengthen multilateralism, improve global governance and values-based decision-making, and address international challenges more inclusively and responsively;

    49. Recalls the importance of a strong and constructive partnership with the UK; welcomes the renewed impetus from the new UK Government to reflect with the EU on possibilities for closer and more permanent foreign policy and security cooperation, underpinned by concrete actions and building on the good cooperation at UN level as well as the effective coordination between the EU and the UK on the adoption and monitoring of the implementation of sanctions against Russia; believes that such coordination is of added value for both the EU and the UK and hence welcomes the agreement to work towards the creation of an EU-UK security partnership based on shared interest and collective responsibility; believes that in the scope of such a partnership, topics such as maritime security should be consulted on; demands that Parliament be duly involved and informed in such reflections;

    50. Takes note of the result of the presidential and congressional elections in the United States; recalls that the transatlantic relationship remains one of the most important and strategic relationship for the EU and its Member States, which has been emphasised by the unity and strength of the partnership demonstrated following Russia’s invasion of Ukraine; underlines that a strong transatlantic relationship remains indispensable for the security of the partners on both sides of the Atlantic; calls on the Commission to foster closer ties with key partners in both the US and Canada in order to counter global challenges that affect our shared values, interests, security and prosperity; in this context reiterates its call for EU-US summits to be held on a regular basis to provide top-level impetus to the future cooperation; fully supports the deepening of cooperation in the framework of the EU-US transatlantic dialogue, such as through transatlantic parliamentary diplomacy; calls for stronger transatlantic cooperation on trade, on foreign and security policy and on combatting challenges caused by rapid technological changes and growing cyber threats; welcomes in that regard the work of the Transatlantic Trade and Technology Council;

    51. Reiterates, irrespectively, the need for Member States to fully operationalise the concept of EU strategic autonomy and defence readiness and to this end make collective and well-coordinated investments in their security and defence with the objective of achieving a genuine European Defence Union that is interoperable and complementary with the NATO alliance and can act independently when needed;

    52. Encourages close relations with western European non-EU countries, in particular cooperation in certain areas of EU external action; welcomes in this context the conclusion of negotiations on a broad package of measures for future EU-Switzerland relations, which mark a significant milestone in advancing and deepening the already close relationship; calls on the Commission to modernise and deepen bilateral relations between the EU and Switzerland; stresses the importance of promoting stronger relations with Norway, particularly in the scope of the security and defence partnership as well as the cooperative management of shared stocks and the continuation of long-standing fishing activities; calls for the swift signing of the association agreement between the EU and Andorra and San Marino;

    53. Welcomes the new momentum in bilateral relations between the EU and Armenia, which is strongly supported by the authorities in Yerevan; calls on the Commission and the Council to actively support Armenia’s desire for increased cooperation with the EU; expresses full support for the newly launched work on the EU-Armenia Partnership Agenda, establishing more ambitious joint priorities for cooperation across all dimensions;

    54. Expresses its strong support for the activities of the European Union Mission in Armenia (EUMA) and underscores the important role it plays; calls on EUMA to continue to closely monitor the evolving security situation on the ground, provide transparent reporting to Parliament and actively contribute to conflict resolution efforts; calls for the EU and its Member States to strengthen EUMA’s mandate, increase its size and extend its duration; calls on the Azerbaijani authorities to agree to have such a civilian mission on their side of the border as well;

    55. Is of the view that the centre of gravity in the global order is shifting towards the Indo-Pacific and that the EU must strengthen its active role and presence in this region to safeguard its interests, promote stability and uphold a rules-based international order; reiterates that a peaceful, free, stable and rules-based Indo-Pacific region is of vital European interest; is concerned that great power competition in the region is imposing parameters on the EU’s ability to promote multilateralism in the region; points out, in this context, that the Asia-Europe Meeting is still hamstrung because of the geopolitical tensions with Russia; calls, in this context for enhanced foreign, security and defence policy ties with like-minded partners in the region in line with the EU strategy for cooperation in the Indo-Pacific; encourages the VP/HR to promote the visibility and impact of the EU’s external action together with our Indo-Pacific partners, particularly Australia, India, New Zealand, South Korea, Japan and Taiwan;

    56. Recalls, in this context, the strategic partnership the EU enjoys with Japan, which should serve as a role model for a fruitful bilateral partnership that allows effective policy-shaping in multilateral contexts; notes that the EU and Japan are celebrating 50 years of their respective diplomatic missions in 2024 and strongly emphasises the EU’s interest in deepening and broadening this partnership bilaterally in the 50 years to come; welcomes, to this end, the EU-Japan Economic Partnership Agreement and the EU-Japan Strategic Partnership Agreement (SPA), the latter of which provides for, among other things, consultations on the development of respective defence initiatives including exchange of information on defence industry-related matters, as well as the exploration of possible mutual involvement in respective defence initiatives;

    57. Notes that geopolitical challenges have strengthened the shared interest of the EU and India in ensuring security, prosperity and sustainable development; calls for an India-EU summit to keep bilateral relations high on the agenda; identifies climate change and green growth, digitalisation and new technologies, research and development, connectivity, trade and investment, foreign, security and defence policy as the key areas of cooperation; calls, in this respect, for stronger buy-in from Member States; calls, equally, on the Member States to expand and broaden the India-EU cooperation on maritime security in response to China’s evolving presence in the Indo-Pacific; highlights the need to engage with India on its heavy military dependency on Russia as well as its supply of restricted critical technologies to Russia; urges India to condemn Russia’s illegal war of aggression against Ukraine and to join the EU sanctions policy towards Russia;

    58. Considers India an important democratic partner and encourages the EU to strictly engage with the Indian Government on the respect of human rights and rule of law, both internally and worldwide; calls for the full implementation of the EU Strategy on India of 2018 and the EU-India Roadmap to 2025 in close coordination with Member States’ own actions; stresses in particular the need to promote greater synergies in foreign and security policy through existing dialogue mechanisms and other forums set up under the EU-India Roadmap to 2025;  welcomes the announcement of a forthcoming strategic EU-India agenda;

    59. Recalls the EU’s commitment to its ‘One China’ policy as one of the principles of EU-China relations; underscores that Taiwan is a key democratic partner for the EU in the Indo-Pacific region; recognises the importance of Taiwan in securing global supply chains, especially in the high-tech sector, and urges the EU and its Member States to engage in closer cooperation with Taiwan in order to further boost economic, trade and investment ties; encourages the Commission to launch, without delay, preparatory measures for negotiations on an investment agreement with Taiwan; emphasises that any attempt from authoritarian regimes to restrict the benign development of EU-Taiwan relations is not acceptable;

    60. Strongly condemns China’s continued military provocations against Taiwan and reiterates its firm rejection of any unilateral change to the status quo in the Taiwan Strait; calls for the EU and its Member States to ensure, through clear and consistent signalling, that any attempt to unilaterally change the status quo in the Taiwan Strait, particularly by means of force or coercion, cannot be accepted and will have high costs; highlights that China’s territorial claims have no basis in international law and that only Taiwan’s democratically elected government can represent the Taiwanese people; denounces, furthermore, China’s blocking of Taiwan’s meaningful participation in multilateral organisations, such as the WHO, the International Civil Aviation Organization and the UN Framework Convention on Climate Change, by its continuous distortion of UN General Assembly Resolution 2758; calls, accordingly, for the EU and its Member States to support Taiwan’s meaningful participation in relevant international organisations;

    61. Expresses deep concern about the latest shifts in China’s domestic and military posture since the 20th national congress of the Chinese Communist Party; holds the view that China demonstrates that it has both the intent and increasingly the economic, diplomatic, technological and military power to redefine the global order; underscores that the military-civil fusion strategy is a testament to such means; stresses, in this context, that the EU needs to be more assertive and unified in its approach to China and therefore calls on the VP/HR and the Member States to review the strategy towards China that takes full account of the increasingly oppressive domestic policies, the assertive foreign policy as well as the use of economic coercion as a means by which China aims to reach its objectives; considers that the challenges stemming from the rise of China as a global actor require a balanced multi-dimensional response along the principle of ‘cooperate where possible, compete where needed and confront where necessary’, through which the EU maintains its selective engagement with China as a permanent member of the UN Security Council on a number of key issues;

    62. Highlights that the PRC’s increasingly aggressive posture poses a threat to the freedom of navigation and jeopardises the stability which is vital for global trade; emphasises that this situation is being watched with concern by a growing number of like-minded partners committed to peace and stability in the region; underlines the need to shore up deterrence against destabilising behaviour, including through regular operations to assert freedom of navigation over the PRC’s attempts to impose control over international waters and airspace;

    63. Holds the view that China, through the continued growth of the Sino-Russian strategic partnership, including in the areas of technology and military capability transfers, (indirectly) enables the Russian war of aggression against Ukraine;

    64. Reiterates its condemnation of China’s violation of its international commitments, its breaches of the Sino-British and Sino-Portuguese Joint Declarations, the International Covenant on Civil and Political Rights, the ‘one country, two systems’ principle and the Hong Kong Basic Law as well as the crackdown on the special administrative region’s autonomy and opposition figures, including members of civil society and their family members; calls on the Commission to assess the autonomous status of Hong Kong and Macao in the light of China’s breaches of the Sino-British and Sino-Portuguese Joint Declarations and the crackdown on Hong Kong’s autonomy;

    65. Is concerned about the growing economic penetration of Chinese companies within the EU, including in strategic sectors such as battery manufacturing; stresses the urgent need to continue the policy of de-risking by continuing to reduce economic dependence in critical sectors, in line with the EU’s economic security strategy;

    66. Reiterates that the Association of Southeast Asian Nations (ASEAN) is a crucial partner in reinforcing rules-based multilateralism; supports ASEAN’s efforts to finalise negotiations with China on an effective and substantive code of conduct in the South China Sea; encourages enhanced EU engagement and cooperation with ASEAN and efforts towards a comprehensive strategic partnership, building on economic ties and sustainable growth, and in particular on political cooperation with regard to human rights and democracy; calls for increased support for Myanmar’s national unity government and for greater pressure to be applied to ASEAN countries to align on international sanctions against Myanmar’s military junta;

    67. Urges the VP/HR and the Member States to focus on bilateral relations with partners in Africa, among others Ghana, Morocco, Kenya, Senegal and Mauretania, taking into account mutual needs and interests in order to foster real and balanced partnerships; believes that the ‘more for more’ principle should be integrated fully into relations with non-EU countries, whereby the EU develops stronger partnerships with those countries that uphold the principles of the CFSP and the common security and defence policy (CSDP), and the fundamental values of the EU; is of the belief that the EU needs to maintain a continued focus on Africa, which is already a strategic continent and will become an increasingly important player in the future;

    68. Calls for the EU to suspend both its Memorandum of Understanding on raw materials and all military cooperation with Rwanda, including through the EPF and any other mechanisms, until Rwanda ends its illegal support for armed groups and fully respects the sovereignty and territorial integrity of the Democratic Republic of the Congo (DRC); condemns the breaches of the sovereignty and territorial integrity of the eastern DRC by the rebels of M23; is deeply concerned about the humanitarian situation of thousands of displaced persons in the area; urges the VP/HR to engage in clear actions in line with the EU’s Great Lakes strategy in order to restore stability and to cooperate with the UN Stabilization Mission in the Democratic Republic of the Congo (MONUSCO) for the protection of civilians in the eastern DRC;

    69. Underlines that the recent developments in Tunisia have raised concerns about human rights and democratic standards, with reports indicating limited transparency, restricted opposition participation and reduced political competition in the presidential election; underlines the EU’s continued commitment to and support for Tunisia during this politically and socio-economically sensitive period, through maintaining contact at various levels;

    70. Underscores that the EU has a direct and vital interest in the stability, security and economic growth of the Mediterranean basin as well as the wider Southern Neighbourhood; recalls that the European neighbourhood policy was launched with the laudable goals of fostering stability, prosperity and good governance in the southern Mediterranean; acknowledges, however, that it is evident today that its instruments, objectives and principles are no longer aligned with the region’s current realities; regrets that, almost 30 years after the launch of the so-called Barcelona Process, the creation of an area of shared prosperity, stability and freedom with the Mediterranean countries of the Southern Neighbourhood has not been achieved; calls on the Commission to present a new pact for the Mediterranean; believes that the EU and the countries of the Southern Neighbourhood should conclude memorandums of understanding aimed at promoting stability, prosperity and the defence of human rights, conditional on cooperating on migration; recalls that instability and insecurity in the Southern Neighbourhood remains an ongoing challenge for European external border management; argues that, while prioritising bilateral relations with countries in the region, the EU should also continue to foster regional cooperation through existing frameworks such as the Union for the Mediterranean; welcomes the appointment of a Commissioner in charge of the Mediterranean;

    71. Stresses the need for the EU to strengthen and deepen its cooperation with Arab countries and the Gulf, in response to the pressing geopolitical, social, and economic challenges facing the region; emphasises that enhanced collaboration should prioritise key areas such as migration, digital transformation, security, the green transition and cultural exchange to build a resilient partnership; calls for a strategic approach that tailors engagement with each country to foster sustainable development and mutual understanding;

    72. Welcomes the successful conclusion of the first EU-Gulf Cooperation Council (GCC) Summit and believes this summit to have marked a pivotal moment in the relationship between the EU and its partners from the GCC, stressing mutual commitment to strengthening ties across key strategic, economic, and cultural areas;

    73. Underlines the importance of upholding and promoting democratic values in the region; condemns the rise of hate speech, including against the European institutions, and attacks on individual freedoms and the international order, both within Member States and abroad;

    74. Emphasises that the countries of the EU, Latin American and the Caribbean are like-minded and share values, languages, history, culture and religion, which should make them natural partners in today’s geopolitical context; notes that the EU’s engagement in the region has dwindled in recent decades, which has created a vacuum for the growing influence of China and Russia; urges countries across Latin America to adopt a firmer attitude of condemnation of Russia’s aggression against Ukraine; calls on the Member States and the EEAS to pursue proactive diplomacy in the region, with a strong emphasis on defending the multilateral global order, international law and respect for democracy and human rights; urges for multilateral initiatives to address political instability in the most volatile countries in the region, for instance in Haiti;

    75. Welcomes the signing of the EU-Chile Advanced Framework Agreement and calls for its swift and full ratification; calls for progress to be made towards the signing and ratification of the EU-Mexico Global Agreement;

    76. Welcomes the conclusion of the agreement with Mercosur; underlines that Parliament will examine whether the provisions on sustainability meet the highest levels of ambition;

    77. Welcomes the EU-Community of Latin American and Caribbean States (CELAC) informal meeting and the implementation of initiatives under the EU-CELAC Roadmap 2023-2025 and, in this regard, underlines the need to adopt a new and ambitious roadmap at the 2025 summit, that keeps strengthening the partnership and takes into account best practices accomplished so far;

    78. Underlines the need for a tougher approach to address violence against environmental defenders and to step up the EU’s efforts to assist in the preservation of biodiversity and in adaptation to the climate emergency; suggests further strengthening cooperation against organised crime and drug trafficking which also has an impact on the EU; calls for a substantial increase in bi-regional cooperation in the fight against this phenomenon;

    79. Calls on the VP/HR to make the work with like-minded democracies a priority of her term and to systematise cooperation and consultation with democratic like-minded partners in order to promote democracy and improve common preparedness and access to crisis response resources; reiterates, in this context, the recommendation to deepen ties with regional organisations such as ASEAN and the African Union to enhance cooperative security frameworks;

    80. Reiterates its support for the European Political Community as a platform for discussion, dialogue and cooperation with European partners on the foreign policy and security challenges we are facing, with the aim of strengthening security and stability in Europe and pursuing political and security cooperation based on shared interests; calls for the close involvement of Parliament in the clarification of the scope and the future work of this community; underlines that, for the future success and coherence of this format, some level of alignment on democratic values and principles is essential; reiterates that the European Political Community may under no circumstances become a pretext for delays to the EU accession of enlargement countries;

    81. Believes also in the significance of building new alliances, inter alia with the countries in our neighbourhood as well as in the Global South, taking into account mutual needs and interests in order to foster real, balanced and equal partnerships; stresses the importance of establishing these political agreements with third countries, based on common European values and fundamental rights; calls for the EU to respond to partner countries’ expectations and to deliver quickly on political agreements with them in order to show that the EU is a reliable and strategic partner and demonstrate that the international rules-based system can meet contemporary challenges; calls, in this context, for collaborative initiatives between the EU and Global South countries to assess and tackle the debt crisis; notes that agreements with the Global South, especially on raw materials, should contribute to local economic development rather than deepening dependence and excessive resource exploitation;

    Fostering EU action abroad

    82. Highlights the role of the VP/HR as a bridge-builder between the CFSP and EU external relations to ensure the highest level of coordination and coherence in EU external action; stresses the need for the EU to foster the visibility and effectiveness of its external action and development cooperation efforts, regrets, nonetheless, that in some cases there is a lack of clarity in the external representation of the EU, hindering the EU’s strategic communication abroad; stresses the need to clearly define the competences of the VP/HR, the President of the Commission and the President of the European Council with regard to the EU’s external action and representation so that the EU’s voice is coherent and perceived as such by its partners; calls on the Commission to strengthen its coordination with the EEAS in external action, including by ensuring full compliance with Articles 3.2 and 9 of the EEAS Decision[16], which may need to be updated;

    83. Calls for the EEAS – both its headquarters and EU delegations – to be strengthened through the provision of the appropriate financial and human resources so that the EU can be better prepared for current and emerging global challenges; calls for the EEAS to be able to select and recruit its permanent EU diplomatic staff and to ensure a fair gender and geographical balance among Member States across all levels within the EEAS; calls on the VP/HR to swiftly come up with proposals for the future operational structure of the EU’s external action and to that end to fully take into account Parliament’s recommendation of 15 March 2023 taking stock of the functioning of the EEAS and for a stronger EU in the world[17]; stresses the need to strengthen strategic communication and the EU’s work on countering disinformation via dedicated resources and offices in strategically relevant regions and countries;

    84. Recalls that the EU has a strategic interest in advancing sustainable development, poverty reduction and equality globally, as these efforts contribute to long-term global peace and security; calls on the Commission to effectively and swiftly use the Global Gateway Initiative as a sustainable alternative to China’s Belt and Road Initiative and as an instrument to increase the EU’s presence and visibility worldwide; recalls that the Global Gateway Initiative is to be understood as a strategic concept integrating foreign, economic and development policy, including the climate and digital transitions, as well as infrastructure investment in order to strengthen close partnership based on mutual benefits, economic development and resilient supply chains; stresses, in this context, that coordination with international financial institutions, well-defined private-sector involvement and tailored strategic communications, including in the recipient countries, are essential in order for the instrument to reach the desired scale; is concerned by reports that a number of Global Gateway projects are being implemented by Chinese companies in direct violation of the initiative’s aims and objectives, which includes the strengthening of the EU’s economic security and fostering economic development and mutually beneficial partnerships with third countries; calls, therefore, for an immediate investigation and the removal of all Chinese companies involved in Global Gateway; stresses that the EU’s support should complement other initiatives such as the Partnership for Global Infrastructure and Investment, the India–Middle East–Europe Economic Corridor and the Lobito Corridor, and should in particular aim at achieving the Sustainable Development Goals;

    85. Reiterates that Parliament plays an integral role in the CFSP and makes a specific contribution thereto by virtue of its parliamentary diplomacy and its distinct instruments, channels and contacts, including its democracy support programmes, the Foreign Affairs Committee, regular parliamentary dialogues and official delegations; emphasises that parliamentary diplomacy has a great potential to engage key political stakeholders and facilitate democratic governance; stresses, in particular, the added value of parliamentary diplomacy during the Russian war of aggression against Ukraine and highlights, in this context, the valuable cooperation at political and technical level between the Verkhovna Rada of Ukraine and the European Parliament;

    86. Firmly believes that diplomacy is a significant part of EU action; calls, in this light, for the further development of the EU’s preventive diplomacy as a proactive external policy tool to pre-empt, mediate and peacefully resolve conflict between parties, calls on the EEAS to integrate the EU’s preventive diplomacy tools within structural prevention mechanisms and actions, such as political agreements among different actors involved in conflicts, national dialogues for reconciliation, peacebuilding and transitional justice, as well as truth and reconciliation commissions; urges the EEAS to conduct ‘lessons learnt’ exercises to assess diplomatic efforts, identify areas for improvement and integrate best practice into future initiatives; calls for the EEAS’ capacities in those regards to be increased, in particular in the relevant crisis preparedness and response divisions; stresses the urgent need to double the relevant EU budget within the Neighbourhood, Development and International Cooperation Instrument and strongly increase EU action on mediation, dialogue and reconciliation;

    87. Reaffirms the role of the EU special representatives (EUSRs), who promote the EU’s policies and interests in specific regions and countries and play an important role in the development of a stronger and more effective CFSP by providing the EU with an active political presence in key countries and regions, acting as a ‘voice’ and ‘face’ for the EU and its policies; emphasises the importance of equipping EUSRs with sufficient resources enabling them to effectively implement those tasks; stresses the importance for EUSRs of having a broad, flexible mandate, capable of adapting to evolving geopolitical circumstances in order to promote the EU’s policies and interests in specific regions and countries and play an active role in preventive diplomacy efforts; insists that the appointment of new EUSRs should take place only after a hearing in Parliament;

    88. Underlines the EU’s missions and operations abroad for promoting peace, security and progress in Europe and in the world; calls on the VP/HR:

     to prepare the proposals for the necessary CFSP missions to be launched in 2025, using the EU’s Rapid Deployment Capacity (RDC) as preventive military reinforcement; recalls that the administrative expenditure for these measures, including the RDC’s standby expenditure, should be charged to the EU budget;

     to work with Cyprus, Türkiye, the UK and the UN to implement concrete measures for a demilitarisation of the buffer zone in Cyprus, and to improve security on the island, both of the Greek Cypriot community and of the Turkish Cypriot community;

     to support an increased role of the two EU civilian CSDP missions, EUPOL COPPS and EUBAM Rafah, in line with European Council conclusions of 21 and 22 March 2024, recalling they can play an important role based on the principle of the two-state solution and the viability of a future Palestinian state, and to participate in the facilitation of the delivery of humanitarian assistance to the Gaza Strip, to improve the efficiency of the Palestinian Authority in the West Bank, and to prepare for its return to the Gaza Strip;

     to create the necessary conditions for the full reactivation of EUBAM Rafah to allow it to act as a neutral third party at the Rafah crossing point, in coordination with the Palestinian Authority as well as the Israeli and Egyptian authorities; expects the reinforcement of the scope and mandates of EUPOL COPPS and EUBAM Rafah on the ground to be included as key priorities of the forthcoming EU-Middle East strategy;

     to further increase the number of observers deployed as part of the EU civilian mission in Armenia on the Armenian side of the international border with Azerbaijan and reiterate calls for Azerbaijan to cooperate with the mission and cease its smear campaign against it;

     to work with Australia, New Zealand, the Republic of Korea, Japan, Taiwan and ASEAN member states to facilitate the peace and security of the Indo-Pacific and south-east Asian regions;

     to develop strategies to counter hybrid attacks on the EU’s eastern border, particularly those involving instrumentalising migration as a tactic to destabilise Member States and exert political pressure;

    89. Calls on the VP/HR to follow up on the examples of the successful evacuation actions in Sudan and of the stepped-up consular protection, and to work towards a comprehensive system of protection for EU citizens abroad; stresses that the impact of continuous crises and conflicts worldwide can entail the risk of overloading Member States’ consular protection and/or assistance capacities and calls, in this regard, for the strengthening of the capabilities and resources of the EEAS Crisis Response Centre and the EU Civil Protection Mechanism; recalls its longstanding position of applying a similar level of protection for the local staff in EU delegations and CFSP missions and operations;

    III. The next MFF and its parliamentary oversight

    90. Believes that there is a need for stronger institutionalised parliamentary oversight of the EU’s external action, including regular and timely, yet secure, access to confidential information and briefings in the European Parliament in line with Article 36 TEU; emphasises the need for more feedback from the VP/HR and the EEAS about the actions taken and the effects achieved, in order to fulfil Parliament’s recommendations outlined in the resolutions on foreign affairs matters;

    91. Underlines that in the CFSP, which comprises the CSDP, the European Parliament exercises its budgetary function jointly with the Council; recalls that the European Parliament also exercises the function of political control and consultation over those policies as referred to in Article 36 TEU; 

    92. Recalls that in line with Article 41 TEU, all CFSP and CSDP administrative and operating expenditure should be charged to the EU budget, except for such expenditure arising from operations having military or defence implications;

    93. Underlines that CFSP or CSDP decisions entailing expenditure always constitute basic choices for those policies and must be subject to parliamentary oversight; calls on the VP/HR to consult Parliament before proposing CFSP or CSDP decisions, thereby ensuring transparency and accountability in line with Article 36 TEU;

    94. Recalls that Parliament’s exercise of its budgetary function is inextricably linked to its function of political control and consultation; recalls that Article 36 TEU establishes a specific relationship between the VP/HR and the European Parliament, which is a prerequisite for Parliament to exercise those functions, and that the VP/HR should support Parliament in those regards;

    95. Regrets that the budget for civilian CSDP missions is insufficient; recalls that the number and tasks of such missions have increased, the security environment has become more challenging, and the cost of operations has increased; urges the European Council to provide for a substantive increase in CFSP funding placed under a separate Civilian CFSP and Crisis Management heading; calls for the efficient use of the funds allocated to civilian CSDP missions to be ensured, in order to make sure that these missions are able to respond effectively to crisis situations and unforeseen events; calls on the VP/HR and the Commission to come forward with joint proposals to those ends;

    96. Is deeply concerned that the EEAS is structurally underfunded and that this already entails serious and far-reaching negative consequences for the EU’s external action and the performance of the EU institutions in this area; underlines that a specific approach to the EEAS’ administrative budget is necessary and recalls that the absence of corrective action risks having a severe impact on the EU’s relations with third countries;

    97. Calls on the Commission to consider in its proposal for the next MFF under the EU external action heading:

     robust capabilities and resources for EU external action that take into account the increasingly challenging international arena, recalling in this regard that it is crucial to further strengthen EU support for human rights, democracy and development in third countries;

     resources for the EU’s digital diplomacy, given the current context of rapid technological advancements and geopolitical competition;

     resources for green diplomacy;

     a dedicated budget for specific EU foreign policy actions on gender equality and the women, peace, and security (WPS) agenda, in order to integrate gender perspectives into EU diplomatic and human security efforts,

     resources for preventive scrutiny of potential beneficiaries to ensure that EU funds under no circumstance directly or indirectly support activities, projects or literature that incite violence and hatred, including antisemitism, and to ensure that all recipients of EU funding are monitored accordingly; 

    98. Calls on the Commission to present its proposals for the next MFF in the first semester of 2025 to allow for sufficient time to negotiate the programmes; underlines the need for a more detailed budgetary nomenclature in the Neighbourhood, Development and International Cooperation Instrument, the Instrument for Pre-accession Assistance and the CFSP budget, which allow the budgetary authority to set policy and geographic priorities in the framework of the annual budgetary procedure;

    99. Underlines that each matter raised above requires an appropriate response by the executive; calls on the VP/HR to respond to Parliament’s calls, requests and concerns swiftly and in writing; considers that oral statements in committee or plenary can only constitute a sufficient response in exceptional or urgent cases; stresses that in the current challenging geopolitical context, close cooperation and partnership between the European Parliament and the VP/HR are of strategic importance; expects more systematic exchanges prior to the adoption of mandates and CFSP strategies and an improved flow of information on negotiations and the implementation of international agreements, as well as memoranda of understanding; expects, in addition, Parliament to be effectively incorporated throughout EU external policies and action, thereby mobilising parliamentary diplomacy in support of the VP/HR’s efforts;

    °

    ° °

    100. Instructs its President to forward this resolution to the European Council, the Council, the Commission, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy and the governments and parliaments of the Member States.

    MIL OSI Europe News

  • MIL-OSI: Ring Energy Announces Accretive Bolt-On Acquisition

    Source: GlobeNewswire (MIL-OSI)

    ~ Capturing Synergies and Expanding Central Basin Platform Operations ~

    ~ Announces Timing of Q4 and FY 2024 Earnings Release and Conference Call ~

    THE WOODLANDS, Texas, Feb. 26, 2025 (GLOBE NEWSWIRE) —  Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced it has entered into an agreement to acquire the Central Basin Platform (“CBP”) assets of Lime Rock Resources IV, LP (“Lime Rock”) for $100 million, subject to customary closing adjustments. The purchase price is comprised of $80 million of upfront cash consideration, a $10 million deferred cash payment due nine months after closing, and up to 7.4 million shares of Ring common stock. The transaction has an effective date of October 1, 2024, and is expected to close by the end of the first quarter of 2025.

    Lime Rock’s CBP acreage is in Andrews County, Texas, where the majority of the acreage directly offsets Ring’s core Shafter Lake operations, and the remaining acreage is prospective for multiple horizontal targets and exposes the Company to new active plays. The transaction represents another opportunity for the Company to seamlessly integrate strategic, high-quality assets with Ring’s existing operations and create shareholder value through improved operations and synergy capture. The Lime Rock position has been a key target for Ring as the Company has historically sought to consolidate producing assets in core counties on the CBP defined by shallow declines, high margin production and undeveloped inventory that immediately competes for capital. Additionally, these assets add significant near-term opportunities for field level optimization and cost savings that are core competencies of Ring’s operating team.   

    Transaction Highlights

    • Highly Accretive CBP Acquisition: Accretive to key Ring per share financial and operating metrics, and attractively valued at less than 85% of Proved Developed (“PD”) PV-101,2;
    • Increased Scale and Operational Synergies: Expands legacy CBP footprint with seamless integration and identified cost reduction opportunities;
    • Meaningful Adjusted Free Cash Flow (“AFCF”)1Generation: Higher AFCF, shallow decline and reduced reinvestment rate accelerates debt reduction;
    • Strengthens High-Return Inventory Portfolio: Improves inventory of proven drilling locations with superior economics in active development areas; and
    • Creates a Stronger and More Resilient Company: Solidifies position as a leading conventional Permian consolidator while strengthening the operational and financial base.

    Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, “This is a unique opportunity to capture high-quality, oil-weighted assets that generate significant free cash flow in a privately negotiated transaction. Today’s announcement is another example of our proven strategy to create value for our shareholders through accretive M&A. This acquisition not only increases our scale, but it also enhances our portfolio of high-return drilling locations and accelerates the Company’s ability to pay down debt. We look forward to quickly integrating the assets into our existing operations and applying our extensive expertise to optimally develop the inventory of horizontal targets afforded by the transaction.”

    Mr. McKinney continued, “For the Lime Rock transaction, we expect to run the same playbook as our highly successful Founders’ acquisition announced in 2023, which has outperformed nearly all our initial underwriting assumptions. Since closing, Ring has increased the Founders’ production base by greater than 40%, lowered the Founders’ per Boe lifting costs by approximately 20%, and reduced our Company’s debt balance through free cash flow generation to more than cover the cash purchase price. We plan to achieve similar success on the Lime Rock assets. Our team has a proven M&A track record as Lime Rock will mark Ring’s fourth acquisition since 2019, totaling approximately $940 million of assets. We believe the benefits of consolidation are compelling when structured appropriately, and we strongly view this as a value-enhancing transaction for Ring shareholders that will better position the Company for future opportunities and long-term success.”

    Asset Highlights

    • ~17,700 net acres (100% HBP) contiguous to Ring’s existing footprint;
    • 2,300 boe/d (>80% Oil) of low-decline average Q3 2024 net production from ~101 gross wells;
    • $120 million of oil-weighted PD PV-101,2 based on February 19, 2025 NYMEX strip pricing;
    • >40 gross locations that immediately compete for capital; and
    • $34 million of 2025E Adjusted EBITDA1 implies an attractive valuation for shareholders.

    Transaction Consideration

    The purchase price of the acquisition is $100 million, subject to customary closing adjustments. Consideration consists of cash and up to 7.4 million shares of Ring common stock based on Ring’s 10-day volume weighted average stock price of $1.3534 per common share as of February 24, 2025. The upfront cash consideration is expected to be funded with cash on hand and borrowings under Ring’s existing credit facility.

    Advisors

    Greenhill, a Mizuho affiliate, acted as sole financial advisor to Ring in connection with the acquisition and Jones & Keller, P.C. served as legal counsel. Truist Securities served as financial advisor to Lime Rock Resources and Kirkland & Ellis LLP served as legal counsel.

    Q4 and FY 2024 Earnings Conference Call Information

    Ring plans to issue its fourth quarter and full year 2024 earnings release after the close of trading on Wednesday, March 5, 2025. The Company has scheduled a conference call on Thursday, March 6, 2025, at 11:00 a.m. ET (10:00 a.m. CT) to discuss its fourth quarter and full year 2024 operational and financial results, the Lime Rock transaction, and its outlook for 2025. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the “Ring Energy Earnings Conference Call”. International callers may participate by dialing 412-317-5762. The call will also be webcast and available on Ring’s website at www.ringenergy.com under “Investors” on the “News & Events” page. An audio replay will also be available on the Company’s website following the call.

    About Ring Energy, Inc.

    Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.

    Non-GAAP Information

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

    The Company defines “Adjusted EBITDA” as net income (loss) plus net interest expense (including interest income and expense), unrealized loss (gain) on change in fair value of derivatives, ceiling test impairment, income tax (benefit) expense, depreciation, depletion and amortization, asset retirement obligation accretion, transaction costs for executed acquisitions and divestitures (A&D), share-based compensation, loss (gain) on disposal of assets, and backing out the effect of other income. Company management believes Adjusted EBITDA is relevant and useful because it helps investors understand Ring’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 Ring 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 cannot provide a reconciliation of 2025E 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.

    The Company defines “Adjusted Free Cash Flow” or “AFCF” as Net Cash Provided by Operating Activities less changes in operating assets and liabilities (as reflected on our Condensed Statement of Cash Flows), plus transaction costs for executed acquisitions and divestitures (A&D), current income tax expense (benefit), proceeds from divestitures of equipment for oil and natural gas properties, loss (gain) on disposal of assets, and less capital expenditures, bad debt expense, and other income. For this purpose, our definition of capital expenditures includes costs incurred related to oil and natural gas properties (such as drilling and infrastructure costs and lease maintenance costs) but excludes acquisition costs of oil and gas properties from third parties that are not included in our capital expenditures guidance provided to investors. Our management believes that Adjusted Free Cash Flow is an important financial performance measure for use in evaluating the performance and efficiency of our current operating activities after the impact of capital expenditures and net interest expense (including interest income and expense, excluding amortization of deferred financing costs) and without being impacted by items such as changes associated with working capital, which can vary substantially from one period to another. Other companies may use different definitions of Adjusted Free Cash Flow.

    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. 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.

    Safe Harbor Statement

    This 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. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company’s strategy and prospects. The forward-looking statements include statements about the expected benefits to the Company and its shareholders from the proposed acquisition of oil and gas properties (the “Lime Rock Acquisition”) from Lime Rock; the anticipated completion of the Lime Rock Acquisition or the timing thereof; the Company’s future reserves, production, financial position, business strategy, revenues, earnings, costs, capital expenditures and debt levels of the Company, and plans and objectives of management for future operations. Forward-looking statements are based on current expectations and subject to numerous assumptions and analyses made by Ring and its management considering their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties, including but not limited to: the Company’s ability to successfully integrate the oil and gas properties to be acquired in the Lime Rock Acquisition and achieve the anticipated benefits from them; risks relating to unforeseen liabilities of Ring or the assets acquired in the Lime Rock Acquisition; declines in oil, natural gas liquids or natural gas prices; the level of success in exploration, development and production activities; adverse weather conditions that may negatively impact development or production activities particularly in the winter; the timing of exploration and development expenditures; inaccuracies of reserve estimates or assumptions underlying them; revisions to reserve estimates as a result of changes in commodity prices; impacts to financial statements as a result of impairment write-downs; risks related to the level of indebtedness and periodic redeterminations of the borrowing base and interest rates under the Company’s credit facility; Ring’s ability to generate sufficient cash flows from operations to meet the internally funded portion of its capital expenditures budget; the impacts of hedging on results of operations; the effects of future regulatory or legislative actions; cost and availability of transportation and storage capacity as a result of oversupply, government regulation or other factors; and Ring’s ability to replace oil and natural gas reserves. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the Securities and Exchange Commission (“SEC”), including its Form 10-K for the fiscal year ended December 31, 2023, and its other SEC filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.

    Contact Information

    Al Petrie Advisors

    Al Petrie, Senior Partner

    Phone: 281-975-2146

    Email: apetrie@ringenergy.com

    1 Represents a non-GAAP financial measure that should not be considered a substitute for any GAAP measure. See section in this release titled “Non-GAAP Information” for a more detailed discussion.
    2 Proved reserves determined by internal management estimates based on NYMEX strip pricing as of February 19, 2025.

    The MIL Network

  • MIL-OSI United Kingdom: UKIFS seeks exceptional talent to shape the future of fusion

    Source: United Kingdom – Executive Government & Departments

    Press release

    UKIFS seeks exceptional talent to shape the future of fusion

    UKIFS launches search for exceptional talent to shape the future of fusion energy

    Image credit: UK Industrial Fusion Solutions

    UK Industrial Fusion Solutions (UKIFS), the organisation responsible for delivering the STEP (Spherical Tokamak for Energy Production) programme, is excited to launch the recruitment process for seven senior technical roles that are central to the future success of the programme. 

    The positions we’re recruiting are:  

    • Deputy Chief Engineer 
    • Head of Tokamak Machine 
    • Design Chief Architect Engineer 
    • Head of Engineering Assurance 
    • Head of Whole Plant Performance 
    • Head of Engineering – Fuel Cycle 
    • Head of Engineering – Power & Cooling 

    The people appointed to these roles will be key to the successful delivery of the technical programme, adding significant weight to the senior leadership team within the programme.  

    STEP is the programme to deliver the UK’s first prototype fusion energy plant, targeting 2040 and a path to the commercial viability of fusion, as a safe, low-carbon and near-limitless energy source. The key objectives of the programme are to demonstrate net energy production from fusion as well as fuel self-sufficiency and a route to plant maintenance for future fusion power plants.  

    This recruitment drive marks the beginning of a significant expansion of roles across the programme, with many more expected through the year. 

    All positions can be based at either Culham Campus in Oxfordshire, or the West Burton site in Nottinghamshire. 

    Paul Methven – CEO of UKIFS and Senior Responsible Officer for STEP said: 

    UKIFS is a new and exciting organisation, working to prove that fusion energy can make a meaningful difference to address climate change and energy security, by delivering net energy. This is a project that really could change the world, place the UK in the lead of a key global technology and generate real economic value for the country. 

    We are very excited to be launching our search for these roles, which are fundamental to the technical success of the project and are looking forward to receiving applications from people working in these areas of engineering, not only those in fusion but across adjacent industries. 

    We’d love you to join us.

    About UK Industrial Fusion Solutions Ltd   

    UK Industrial Fusion Solutions Ltd (UKIFS) is a wholly owned subsidiary of the UK Atomic Energy Authority (UKAEA) Group, responsible for the STEP (Spherical Tokamak for Energy Production) programme to deliver the UK’s prototype fusion energy plant.  

    Targeting first operations in 2040, UKIFS will lead STEP’s integrated delivery team to design and build the prototype fusion energy plant at West Burton, a former coal-fired power station site in Nottinghamshire.

    To sign-up for updates about STEP, visit: step.ukaea.uk or follow our social channels @STEPtoFusion.

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom

  • MIL-OSI Russia: Rosneft Winter Sports Games Start in Krasnoyarsk

    Translartion. Region: Russians Fedetion –

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

    The 13th Rosneft Winter Sports Games have opened in Krasnoyarsk. From February 25 to March 2, about 650 oil industry athletes from 41 teams of the Company’s subsidiaries will compete in winter sports such as hockey, cross-country skiing and biathlon. Men’s and women’s distances, as well as a relay race, are provided for skiers.

    The opening ceremony of the Winter Games was attended by Russian sports stars. The athletes were greeted by Olympic relay champion, skier Denis Spetsov and leading players of the CSKA hockey club.

    Rosneft’s summer and winter sports games bring together thousands of oil industry athletes every year. The first sports competitions were held in 2005 and have since become part of the Company’s corporate culture. The winter games are a shining example of effective promotion of a healthy lifestyle, strengthening the spirit of camaraderie, supporting mass sports and good traditions.

    Sports development is one of the main areas of Rosneft’s social policy. The company finances the construction of ice arenas, sports complexes and multifunctional sports grounds in the regions where it operates. Rosneft also supports amateur sports and carries out large-scale work to popularize a healthy lifestyle among both its own employees and the population in the regions where it operates.

    Reference:

    Rosneft athletes also take part in the main mass sports competitions held in our country, winning prizes. As part of the corporate sports and health movement “Energy of Life”, the Company’s employees regularly play sports and compete in various sports disciplines. In 2024, almost 128 thousand employees of the Company played sports as part of the “Energy of Life” movement. At the same time, more than 92 thousand employees took part in competitions in various sports.

    Department of Information and Advertising of PJSC NK Rosneft February 26, 2025

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

    MIL OSI Russia News

  • MIL-OSI United Kingdom: Over 100 Chevening and Commonwealth Scholars return to Pakistan after UK studies

    Source: United Kingdom – Executive Government & Departments

    World news story

    Over 100 Chevening and Commonwealth Scholars return to Pakistan after UK studies

    British High Commissioner to Pakistan, Jane Marriott CMG OBE, welcomed back 43 Chevening and 71 Commonwealth Scholars, celebrating their studies in the UK.

    The 2023-24 cohort include scholars from every part of Pakistan, studying public policy, health sciences, climate change, and business at institutions across the UK.  As they return, these scholars become part of a thriving network of over 3,500 alumni, spanning government, media, business, and civil society.  

    Many Chevening and Commonwealth alumni have become leaders in their fields, shaping policy and driving social change. Notable alumni include the Honourable Chief Justice of Pakistan, Yahya Afridi; the Honourable Supreme Court Judge, Justice Athar Minallah; Muhammad Ali Randhawa, Chief Commissioner of Islamabad Capital Territory; Zulfiqar Younis, Additional Secretary for Climate Finance; Abia Akram, Founder of the National Forum of Women with Disabilities; and Maha Kamal, Co-Chair of Women in Energy. 

    British High Commissioner, Jane Marriott CMG OBE, said: 

    “Chevening and Commonwealth scholarships are among the UK’s most prestigious opportunities for Pakistanis. These scholars return empowered by a world-class education, global networks, fresh ideas, and the ambition to create real impact in Pakistan. Studying at UK universities is no easy feat, and I offer them my highest congratulations.”  

    Oneir Raza, a scholar from Pakistan’s education sector, said:  

    “Chevening was a remarkable experience. Studying at the University of Cambridge allowed me to gain practical skills, learn from a diverse faculty, and connect with people from different cultures. Beyond academics, Chevening broadened my horizons and helped me build lifelong bonds. I am super grateful for this opportunity.” 

    The British High Commission has launched climate-focused Chevening alumni engagement initiatives, including debates on the impacts and solutions to climate change in Karachi, Lahore, and Islamabad, and a climate mentorship scheme pairing 13 mentees with 8 Chevening alumni mentors. These programmes are helping to grow Pakistani climate leadership, sparking critical dialogue, convening experts to come together to find tangible solutions to Pakistan’s climate challenges. 

    Applications for Commonwealth Scholarships will next open in September 2025. To find out more information, visit the CSC website. Applications for Chevening scholarships will open in August 2025. Interested candidates can register for alerts by visiting Chevening.

    Notes to editors 

    Commonwealth Master’s Scholarships – Commonwealth Scholarship Commission in the UK are highly competitive scholarships provided by the UK government to provide financial assistance to talented international students from across the Commonwealth nations who wish to pursue a postgraduate degree in the UK. In Pakistan, there are over 1,500 Commonwealth alumni to date. The scholarships have been available to Pakistani students since 1960.  

    Chevening Scholarships are the UK government’s global scholarships programme. Established in 1983, these scholarships support study at UK universities – mostly one-year Masters’ degrees – for students with demonstrable potential to become future leaders, decision-makers and opinion formers. In Pakistan, there are over 2000 alumni to date.

    For updates on the British High Commission, please follow our social media channels:

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom

  • MIL-OSI Economics: Huawei’s OptiX OSN 9800 Series Retains “Leader” Position in GlobalData’s Core and Metro WDM Assessment Feb 26, 2025

    Source: Huawei

    Headline: Huawei’s OptiX OSN 9800 Series Retains “Leader” Position in GlobalData’s Core and Metro WDM Assessment
    Feb 26, 2025

    [Shenzhen, China, February 26, 2025] In its latest Core & Metro Packet-Optical Transport: Competitive Landscape Assessment, the world-renowned industry analysis firm GlobalData gave Huawei high marks for its flagship optical transmission product OptiX OSN 9800 series. Thanks to its leading technical architecture, ultra-large capacity, intelligent O&M capabilities, and the company’s mature global commercial practices, OptiX OSN 9800 once again ranked as a “Leader” with the highest score in the core and metro WDM fields. This further reinforces its leading position in optical communications.
    Huawei’s OptiX OSN 9800 Series Retained “Leader” Position in GlobalData’s Core and Metro WDM

    Huawei’s OptiX OSN 9800 series has made multiple technical breakthroughs and achieved comprehensive leadership in aspects ranging from transmission performance to network management.
    1. Ultra-high rate and ultra-large capacity
    Huawei’s OptiX OSN 9800 series supports a programmable rate of 400 Gbit/s to 1.2 Tbit/s per wavelength, as well as future evolution to a higher rate of 2 Tbit/s and beyond. The PBC non-linear compensation algorithm and new material technologies are used to extend the transmission distance by more than 20%. To date, Huawei’s 400G solution has been deployed on more than 200 networks in over 100 countries around the world, accelerating the commercial use of 400G+ networks.
    This series also supports a single-fiber capacity of 96 Tbit/s, and Super C+L band ultra-broadband spectrum to meet the capacity requirements for the next decade. In addition, it also provides Pbit/s-level optical switching capacity per subrack, facilitating data center interconnection.
    2. Energy saving and high efficiency
    OSN 9800 K36 is the industry’s first DC-oriented OTN platform. It uses the dual 3D orthogonal architecture and intelligent heat dissipation technology to double the switching capacity per slot and reduce the per-Gbit power consumption by 65%. In addition, the front-to-rear airflow design optimizes the energy efficiency of equipment rooms, enabling carriers to build green data centers.
    Compared with traditional solutions, Huawei’s OSN 9800 P32/P32C all-optical cross-connect products achieve 90% less device footprint and 60% less power consumption, achieving the best energy efficiency ratio in the industry.
    3. High availability and automatic O&M
    Huawei’s NCE-T transmission digital map solution provides automatic wavelength expansion planning, shortening the network expansion period from months to days. Moreover, the solution provides functions such as proactive assurance for availability risks and accurate fault diagnosis. With ASON, an E2E availability system covering prevention, recovery, and repair is established, improving the network availability to 99.999% and significantly reducing O&M costs.
    The OptiX OSN 9800 series has been widely implemented on global carrier networks in integrated transmission scenarios such as high-speed interconnection between data centers, home broadband, mobile bearing, and enterprise private lines. The flexible optical-electrical convergence architecture supports unified switching of OTN, SDH, packet, and OSU services, as well as integrating the all-optical cross-connect function, to provide carriers with ultra-broadband, elastic, and intelligent transmission solutions.
    According to the report, Huawei is ahead of competitors in terms of line ports, switching capacity, transmission capability, and network management. Emir Halilovic, Research Director of GlobalData, highlighted that Huawei’s OSN 9800 series products “define a new benchmark in terms of ultra-large capacity and intelligence features”.

    MIL OSI Economics

  • MIL-OSI Economics: Huawei’s OptiX OSN 9800 Series Retains “Leader” Position in GlobalData’s Core and Metro WDM Assessment

    Source: Huawei

    Headline: Huawei’s OptiX OSN 9800 Series Retains “Leader” Position in GlobalData’s Core and Metro WDM Assessment

    [Shenzhen, China, February 26, 2025] In its latest Core & Metro Packet-Optical Transport: Competitive Landscape Assessment, the world-renowned industry analysis firm GlobalData gave Huawei high marks for its flagship optical transmission product OptiX OSN 9800 series. Thanks to its leading technical architecture, ultra-large capacity, intelligent O&M capabilities, and the company’s mature global commercial practices, OptiX OSN 9800 once again ranked as a “Leader” with the highest score in the core and metro WDM fields. This further reinforces its leading position in optical communications.
    Huawei’s OptiX OSN 9800 Series Retained “Leader” Position in GlobalData’s Core and Metro WDM

    Huawei’s OptiX OSN 9800 series has made multiple technical breakthroughs and achieved comprehensive leadership in aspects ranging from transmission performance to network management.
    1. Ultra-high rate and ultra-large capacity
    Huawei’s OptiX OSN 9800 series supports a programmable rate of 400 Gbit/s to 1.2 Tbit/s per wavelength, as well as future evolution to a higher rate of 2 Tbit/s and beyond. The PBC non-linear compensation algorithm and new material technologies are used to extend the transmission distance by more than 20%. To date, Huawei’s 400G solution has been deployed on more than 200 networks in over 100 countries around the world, accelerating the commercial use of 400G+ networks.
    This series also supports a single-fiber capacity of 96 Tbit/s, and Super C+L band ultra-broadband spectrum to meet the capacity requirements for the next decade. In addition, it also provides Pbit/s-level optical switching capacity per subrack, facilitating data center interconnection.
    2. Energy saving and high efficiency
    OSN 9800 K36 is the industry’s first DC-oriented OTN platform. It uses the dual 3D orthogonal architecture and intelligent heat dissipation technology to double the switching capacity per slot and reduce the per-Gbit power consumption by 65%. In addition, the front-to-rear airflow design optimizes the energy efficiency of equipment rooms, enabling carriers to build green data centers.
    Compared with traditional solutions, Huawei’s OSN 9800 P32/P32C all-optical cross-connect products achieve 90% less device footprint and 60% less power consumption, achieving the best energy efficiency ratio in the industry.
    3. High availability and automatic O&M
    Huawei’s NCE-T transmission digital map solution provides automatic wavelength expansion planning, shortening the network expansion period from months to days. Moreover, the solution provides functions such as proactive assurance for availability risks and accurate fault diagnosis. With ASON, an E2E availability system covering prevention, recovery, and repair is established, improving the network availability to 99.999% and significantly reducing O&M costs.
    The OptiX OSN 9800 series has been widely implemented on global carrier networks in integrated transmission scenarios such as high-speed interconnection between data centers, home broadband, mobile bearing, and enterprise private lines. The flexible optical-electrical convergence architecture supports unified switching of OTN, SDH, packet, and OSU services, as well as integrating the all-optical cross-connect function, to provide carriers with ultra-broadband, elastic, and intelligent transmission solutions.
    According to the report, Huawei is ahead of competitors in terms of line ports, switching capacity, transmission capability, and network management. Emir Halilovic, Research Director of GlobalData, highlighted that Huawei’s OSN 9800 series products “define a new benchmark in terms of ultra-large capacity and intelligence features”.

    MIL OSI Economics

  • MIL-OSI Economics: Shaping a Brighter Future for Asia and the Pacific: ADB President Asakawa’s Legacy

    Source: Asia Development Bank

    Transcript

    In January 2020, President Masatsugu Asakawa took the helm of the Asian Development Bank with a vision for sustainable growth and regional cooperation. Little did he know that two months later, the world would face an unprecedented crisis—the COVID-19 pandemic. As the pandemic swept across countries, President Asakawa recognized the urgency and mobilized ADB’s resources to respond swiftly.

    Masatsugu Asakawa
    President
    Asian Development Bank
    2020-2025

    “In a crisis, every moment counts. I’m proud that ADB acted decisively when our members needed us most.”

    Under his leadership, ADB launched a $20 billion assistance package, including the COVID-19 Pandemic Response Option (CPRO) and a $9-billion Asia Pacific Access Facility (APVAX) to help countries procure and distribute drugs.

    Amidst the global health crisis, another pressing challenge demanded attention—climate change. At COP26 in Glasgow, President Asakawa reaffirmed ADB’s climate leadership.

    “We can’t afford to wait on climate action. That’s why we pledged at least $100 billion in climate financing by 2030 and pioneered innovative tools like the Energy Transition Mechanism and IF-CAP to drive real change.”

    Under his guidance, ADB became the region’s “climate bank,” promoting sustainable, inclusive growth while addressing environmental challenges. President Asakawa advocated action to help developing member countries become more resilient against climate change impacts, such as extreme heat and accelerated glacial melt.

    “Climate action has been a top priority for ADB, and for me personally. Throughout my presidency, ADB has intensified efforts to address the climate crisis— with initiatives focused on protecting vulnerable areas like the Hindu Kush-Himalaya region.”

    Alongside these initiatives, President Asakawa never lost sight of the people behind ADB’s success—its staff. In response to the COVID-19 pandemic, he introduced flexible work arrangements and prioritized safety measures.

    “Our people are the heart of ADB. Their safety and well-being come above all else. By fostering a supportive and inclusive environment, we empower our staff to deliver their best for the communities we serve.”

    In a critical moment, President Asakawa orchestrated the evacuation of 120 ADB staff and their families from Afghanistan. His actions not only safeguarded lives but reinforced a culture of care within the ADB community.

    Looking beyond immediate crises, President Asakawa also focused on building stronger foundations for the future. He championed domestic resource mobilization, helping countries strengthen their financial resilience.

    “True progress is when countries stand on their own feet. Our role is to help them build that foundation, strengthening their ability to create sustainable growth and resilience for future generations.”

    Through initiatives like the creation of the Asia Pacific Tax Hub,  ADB has helped strengthen tax systems, improve governance, and secure social safety nets for people across the region.

    Understanding that the region’s prosperity depends on cooperation, President Asakawa reinforced the importance of robust partnerships to rejuvenate trade and improve supply chains.

    “Asia and the Pacific has benefited immensely from globalization. With the looming threat of protectionism, our region must continue to champion connectivity and collaboration.”

    To support his ambitious goals, President Asakawa also spearheaded significant transformation within ADB. A review of the Capital Adequacy Framework unlocked an additional $100 billion in lending capacity over the next decade.

    Meanwhile, the new operating model introduced strategic shifts to expand private sector operations, intensify climate action, drive innovation, and locate staff closer to clients to strengthen support and responsiveness.

    These initiatives align with the MDB evolution agenda, ensuring ADB remains a key player in global development.

    “To meet tomorrow’s challenges, we must evolve today. Innovation isn’t just an option. It’s an imperative.”

    As his tenure comes to a close, President Asakawa leaves a strengthened, future-focused ADB.

    His vision encourages ADB to stay invested in the region’s success and responsive to emerging challenges. And he reminds us that building trusted, long-term partnerships is key to driving meaningful change.

    “ADB’s strength lies in being a trusted development partner- a reliable friend and partner of choice for Asia and the Pacific. This close relationship is our legacy. And it’s vital we preserve it.”

    President Asakawa has guided ADB through challenging times with transformative leadership that has left an indelible mark on the organization and region. As we look to the future, his legacy sets the foundation for a prosperous, resilient, inclusive, and sustainable Asia and the Pacific.

    “I want to extend my heartfelt gratitude to ADB’s staff, Board of Directors, member governments, and our many partners. Together, we have achieved milestones that will continue to shape a brighter future for Asia and the Pacific.”

    MIL OSI Economics

  • MIL-OSI Asia-Pac: Green sector a growth area: FS

    Source: Hong Kong Information Services

    In his 2025-26 Budget speech, Financial Secretary delivered an update on initiatives to harness green industries in Hong Kong, stressing that green finance and green technology are accelerating the build-up of multi-faceted industry clusters and creating huge business opportunities.

    In terms of green finance, Mr Chan iterated that Hong Kong last year launched the Sustainable Finance Action Agenda, setting out goals for the banking industry to achieve net zero, and committed to becoming one of the first jurisdictions to align local requirements on sustainability disclosure standards with those outlined in the International Financial Reporting Standards.

    He said that to support local green-finance talent training, the Pilot Green and Sustainable Finance Capacity Building Support Scheme will be extended to 2028. 

    The finance chief also reported that the Hong Kong Science and Technology Parks Corporation (HKSTPC) will develop its InnoCentre in Kowloon Tong into a green technology hub, to be named “GreenTech Hub”. The hub will bring together more than 200 green technology companies, with the HKSTPC inviting partners such as financial and business institutions and universities to support the companies by providing training, business matching, and more.

    With regard to shipping, the Government plans to develop Hong Kong as a green maritime fuel bunkering centre by the implementing the Action Plan on Green Maritime Fuel Bunkering. Mr Chan said the Government will provide tax exemptions on green methanol used for bunkering. In the aviation sector, meanwhile, a Sustainable Aviation Fuel consumption target will be announced this year.

    In terms of waste reduction, the Government will allocate additional funding of $180 million to increase the number of residential food waste smart recycling bins and food waste collection facilities across the city. I·PARK1, Hong Kong’s first waste-to-energy facility for treating municipal solid waste, is expected to commence operation this year, and an open tender has been invited for I·PARK2, which will have an expected treatment capacity of 6,000 tonnes per day. 

    Mr Chan announced that the Government will launch a $300 million electric vehicle subsidy scheme in the middle of the year, adding that the scheme is expected to provide impetus to for the industry to install 3,000 fast chargers across Hong Kong by 2030.

    In relation to public transport, the finance chief remarked that the Government recently launched a “Green Transformation Roadmap of Public Buses and Taxis” and earmarked $470 million under the New Energy Transport Fund to subsidise franchised bus operators in purchasing about 600 electric buses.  A further $135 million was earmarked to subsidise the taxi trade in purchasing 3,000 electric taxis.  In addition, the “Funding Scheme to Trial of Hydrogen Fuel Cell Heavy Vehicles” is now open for application.

    The Government intends to invite tenders for a smart and green mass transit system project in Kai Tak this year, and for similar projects in East Kowloon and the Hung Shui Kiu/Ha Tsuen and Yuen Long South New Development Areas next year. 

    Mr Chan also reported that the Government has reserved a site in Sheung Shui for the agriculture sector to set up the city’s first multi-storey, environment-friendly livestock farm.

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: SPbPU PISh “Digital Engineering” and TsKBM opened a laboratory to study technologies for producing hydrogen and its derivatives

    Translartion. Region: Russians Fedetion –

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

    On February 25, the SPbPU PISh “Digital Engineering” ceremonially opened the scientific and technological educational space “Laboratory of integrated development of the main equipment of chemical-technological and energy systems of the new generation”.

    The laboratory was created jointly with the Central Design Bureau of Mechanical Engineering (part of the mechanical engineering division of the Rosatom State Corporation) as part of the implementation of the SPbPU PISh program.

    This space is focused on studying chemical technologies for hydrogen energy projects using digital solutions. The laboratory occupies 125 square meters and can accommodate up to 15 people at a time.

    The latest Russian-made equipment allows for science-intensive research and development, and also enables undergraduates and postgraduates to conduct research in the field of chemical technology, develop kinetic models of catalytic processes, including the production of hydrogen and derivatives based on it, and collect data to create and validate digital twins of physical, mechanical and chemical processes.

    The only catalytic unit in St. Petersburg, LKU-1, for studying high-temperature processes with a fixed catalyst bed is located here. It will allow studying the processes of catalytic processing of natural gas (steam reforming), testing catalysts and developing promising technologies for producing hydrogen.

    In the 2024-2025 academic year, with the support of the Central Design Bureau of Machine Building, a new master’s program was opened at the SPbPU PISH “Digital Engineering” “Digital engineering of the main technological equipment of hydrogen technologies and energy systems of the new generation”It trains advanced specialists capable of developing, modeling, optimizing and designing high-tech production proprietary equipment for chemical technologies, including hydrogen production, using digital twin technology.

    Let us recall that the agreement on cooperation in educational, scientific and innovative activities for the purpose of implementing joint basic and additional educational training programs for current tasks between the Central Design Bureau of Mechanical Engineering and the Saint Petersburg Polytechnical University’s PIS “Digital Engineering” signed On November 21, 2022, at the Atomexpo International Forum, the main event of the global nuclear industry.

    In the new laboratory, master’s students will not only master the methodology of scientific research and gain research experience, but will also be able to conduct important research within the framework of the promising projects implemented by the Central Design Bureau of Mechanical Engineering in the field of hydrogen energy.

    The opening ceremony of the space was attended by representatives of the Polytechnic University and the Central Design Bureau of Mechanical Engineering, including the Vice-Rector for Digital Transformation of SPbPU, the Head of the Advanced Engineering School of SPbPU “Digital Engineering” Alexey Borovkov, the Vice-Rector for Organizational and Economic Work of SPbPU Stanislav Vladimirov, the Deputy Head of the Advanced Engineering School of SPbPU Oleg Rozhdestvensky, the Head of the Central Design Bureau of Mechanical Engineering Yuri Gordienkov, and the First Deputy Head of the Central Design Bureau of Mechanical Engineering Alexey Mikhailov.

    The ceremony’s guests of honor included representatives of the industrial partner of the SPbPU PISh — the Krylov State Research Center. These were Deputy Director General for Scientific and Production Activities Igor Marenich, Deputy Head of the Hydrogen Energy Scientific and Production Complex Aleksandr Karpovich, and Head of the Experimental Production of the Hydrogen Energy Scientific and Production Complex Aleksandr Datskevich.

    “One of the important tasks in the implementation of the federal project “Advanced Engineering Schools” is the development of the infrastructure of the participating universities. The competencies of teachers of advanced engineering schools and representatives of the high-tech industry, the formulation of engineering challenges, as well as modern laboratory equipment – all this gives a synergistic effect, allowing us to train engineers with world-class competencies. Seven scientific and educational spaces have already been opened in the Advanced Engineering School of SPbPU “Digital Engineering”.

    The opening of the Laboratory for Complex Development of the Main Equipment for New-Generation Chemical-Engineering and Energy Systems together with the TsKBM company will allow us to carry out R&D in the interests of the key partner of the Advanced Engineering School of SPbPU — the State Corporation Rosatom — and, within the framework of solving frontier engineering problems, train students in the promising area of chemical-engineering and energy systems,” noted Alexey Borovkov.

    The head of the Central Design Bureau of Mechanical Engineering, Yuri Gordienkov, emphasized the long-term and fruitful cooperation with the Polytechnic University and noted that the opening of the laboratory will be an important step in the development of joint projects.

    In the new laboratory, TsKBM plans to focus on the development of chemical technologies, including the production of hydrogen and synthesis gas for use in industrial processes and energy systems. In the next decade, hydrogen energy may become one of the main areas of development for TsKBM, which will lead to diversification of the order portfolio, sustainable development of the enterprise and ensuring the technological sovereignty of the Russian Federation. Training highly qualified specialists in the field of chemical technologies and hydrogen energy is a key factor for the successful development of this promising area, emphasized Yuri Gordienkov.

    The development of a joint scientific and technological infrastructure of the Advanced Engineering School of SPbPU “Digital Engineering” and the Central Design Bureau of Mechanical Engineering will ensure comprehensive interaction with an industrial partner in terms of solving urgent frontier problems in the energy sector.

    After the opening of the laboratory, a working meeting was held to discuss current joint projects and promising areas of cooperation. The high-tech projects of the Advanced Engineering School of SPbPU in the interests of CBMD represent the “foundation” for creating a new generation of equipment that will allow the industrial partner to become a technology licensor and take a leading position in the new industry.

    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: Sydbank’s 2024 Annual Report

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement No 08/2025
    26 February 2025

    Sydbank’s 2024 Annual Report

    Highly satisfactory profit thanks to all-time high core income

    Core income has risen to a new all-time high level of DKK 7,227m from the record-level of DKK 7,071m in 2023. The increase is mainly attributable to a rise in income from asset management due to a significant increase in capital under management.

    The Sydbank Group’s 2024 financial statements show a profit before tax of DKK 3,645m compared to DKK 4,281m in 2023. The decrease of DKK 636m is primarily attributable to impairment charges, which are DKK 622m higher in 2024 than in 2023. Profit before tax equals a return on equity of 24.6%.

    Profit for the year is DKK 2,762m against DKK 3,342m in 2023, equal to a return on average equity after tax of 18.6%. At the beginning of 2024 profit after tax was projected to be in the range of DKK 2,500-2,900m.

    CEO Mark Luscombe comments on the profit:
    – It is positive that in 2024, due to a rise in core income, we succeeded in maintaining a profit before impairment charges at the record-high level that we achieved in 2023. Impairment charges represent an expense of DKK 595m, of which DKK 446m can be attributed to the restructuring of Better Energy. Profit after tax is in the upper end of the expectations for profit for the year announced in January 2024.

    Mark Luscombe comments on developments in core income:
    – Since June 2024 the Danish central bank has cut its key rates by 1pp and the effect is visible in net interest income, which is reduced by DKK 79m from the record-high level in 2023. The drop has occurred despite an increase in bank lending of DKK 8bn, equal to 11%. Other core income has gone up by DKK 235m, lifting total core income to a new all-time high. This is supported by strong business momentum and a high level of customer activity within savings and investments. I would like to thank all our employees for their hard work and contribution to this strong result and express my gratitude to our customers and shareholders for their continued support.

    Board chairman Lars Mikkelgaard-Jensen comments:
    – It is gratifying to note that, following the resignation of Karen Frøsig in mid-2024, the Bank under the management of Mark Luscombe has succeeded in continuing the very positive development under Karen Frøsig’s management. This has also been made possible by a well-planned handover focusing completely on the change of CEO not having any impact on Sydbank’s activities. We saw a very
    satisfactory trend in the Bank’s business in 2024 and the very high earnings and the Bank’s strong capital base allow us to distribute DKK 2,727m, equal to 99% of profit for 2024. 50% of profit will be distributed as dividend and the remaining share will be distributed via a new share buyback
    programme of DKK 1,350m. Following the dividend payout the Bank will continue to be well capitalised.

    Outlook 2025
    Moderate growth is projected for the Danish economy. Profit after tax is expected to be in the range of DKK 2,200-2,600m.

    The profit forecast assumes that the Danish central bank will lower the interest rate by 1pp in 2025.

    The outlook is subject to uncertainty and depends on financial market developments and macroeconomic factors which may affect eg the level of impairment charges.

    2024 highlights
    • A 2% increase in core income
    • A rise in costs (core earnings) of 6%
    • Impairment charges for loans and advances: an expense of DKK 595m
    • A drop in profit for the year of DKK 580m to DKK 2,762m
    • An 11% rise in bank loans and advances to DKK 82.5bn
    • Deposits of DKK 116.7bn
    • A capital ratio of 21.4%, including a CET1 ratio of 17.8%
    • A proposed dividend of DKK 26.88 per share
    • New share buyback programme of DKK 1,350m

    Additional information
    Jørn Adam Møller, Deputy Group Chief Executive, tel +45 74 37 20 30
    Lars Grubak Lohff, Press Manager, tel +45 20 31 54 65

    Attachments

    The MIL Network

  • MIL-OSI: BW Energy Limited: Annual report 2024  

    Source: GlobeNewswire (MIL-OSI)

    Annual report 2024  

    BW Energy today published its annual report for the financial year ended 31 December 2024. BW Energy also published the Board-approved report on payments to governments and the annual statement of reserves for 2024. Please find the reports attached.  

    The reports are also available at: www.bwenergy.no/investors/reports-and-presentations 

    For further information, please contact: 

    Brice Morlot, CFO BW Energy, +33.7.81.11.41.16 

    ir@bwenergy.com  

    About BW Energy:  

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

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

    Attachments

    The MIL Network

  • MIL-Evening Report: New report skewers Coalition’s contentious nuclear plan – and reignites Australia’s energy debate

    Source: The Conversation (Au and NZ) – By John Quiggin, Professor, School of Economics, The University of Queensland

    Debate over the future of Australia’s energy system has erupted again after a federal parliamentary inquiry delivered a report into the deployment of nuclear power in Australia.

    The report casts doubt on the Coalition’s plan to build seven nuclear reactors on former coal sites across Australia should it win government. The reactors would be Commonwealth-owned and built.

    The report’s central conclusions – rejected by the Coalition – are relatively unsurprising. It found nuclear power would be far more expensive than the projected path of shifting to mostly renewable energy. And delivering nuclear generation before the mid-2040s will be extremely challenging.

    The report also reveals important weaknesses in the Coalition’s defence of its plan to deploy nuclear energy across Australia, if elected. In particular, the idea of cheap, factory-built nuclear reactors is very likely a mirage.



    A divisive inquiry

    In October last year, a House of Representatives select committee was formed to investigate the deployment of nuclear energy in Australia.

    Chaired by Labor MP Dan Repacholi, it has so far involved 19 public hearings and 858 written submissions from nuclear energy companies and experts, government agencies, scientists, Indigenous groups and others. Evidence I gave to a hearing was quoted in the interim report.

    The committee’s final report is due by April 30 this year. It tabled an interim report late on Tuesday, focused on the timeframes and costs involved. These issues dominated evidence presented to the inquiry.

    The findings of the interim report were endorsed by the committee’s Labor and independent members, but rejected by Coalition members.

    What did the report find on cost?

    The report said evidence presented so far showed the deployment of nuclear power generation in Australia “is currently not a viable investment of taxpayer money”.

    Nuclear energy was shown to be more expensive than the alternatives. These include a power grid consistent with current projections: one dominated by renewable energy and backed up by a combination of battery storage and a limited number of gas peaking plants.

    The Coalition has identified seven coal plant sites where it would build nuclear reactors. Some 11 gigawatts of coal capacity is produced on those sites. The committee heard replacing this capacity with nuclear power would meet around 15% of consumer needs in the National Electricity Market, and cost at least A$116 billion.

    In contrast, the Australian Energy Market Operator estimates the cost of meeting 100% of the National Electricity Market’s needs – that is, building all required transmission, generation, storage and firming capacity out to 2050 – is about $383 billion.

    What about the timing of nuclear?

    On the matter of when nuclear energy in Australia would be up and running, the committee found “significant challenges” in achieving this before the mid-2040s.

    This is consistent with findings from the CSIRO that nuclear power would take at least 15 years to deploy in Australia. But is it at odds with Coalition claims that the first two plants would be operating by 2035 and 2037 respectively.

    The mid-2040s is well beyond the lifetime of Australia’s existing coal-fired power stations. This raises questions about how the Coalition would ensure reliable electricity supplies after coal plants close. It also raises questions over how Australia would meet its global emissions-reduction obligations.

    Recent experience in other developed countries suggests the committee’s timeframe estimates are highly conservative.

    Take, for example, a 1.6GW reactor at Flamanville, France. The project, originally scheduled to be completed in 2012, was not connected to the grid until 2024. Costs blew out from an original estimate of A$5.5 billion to $22 billion.

    The builder, Électricité de France (EDF), was pushed to the edge of bankruptcy. The French government was forced to nationalise the company, reversing an earlier decision to privatise it.

    EDF is also building two reactors in the United Kingdom – a project known as Hinkley C. It has also suffered huge cost blowouts.

    Recent nuclear reactor projects in the United States have also fallen victim to cost overruns, sending the owner, Westinghouse, bankrupt.

    What does the Coalition say?

    The committee report included dissenting comments by Coalition members.

    As the Coalition rightly points out, global enthusiasm for nuclear power remains steady. The UK, France and the US all signed a declaration in 2023 at the global climate change conference, COP28, pledging to triple nuclear power by 2050.

    And in the UK and France, advanced plans are afoot to construct new nuclear reactors at existing sites.

    But even there, progress has been glacial. The UK’s Sizewell C project has been in the planning stage since at least 2012. The French projects were announced by President Emmanuel Macron in 2022. None of these projects have yet reached a final investment decision. Delays in Australia would certainly be much longer.

    The Coalition also draws a long bow in claiming Australia’s existing research reactor at Lucas Heights, in New South Wales, means we are “already a nuclear nation”.

    At least 50 countries, including most developed countries, have research reactors. But very few are contemplating starting a nuclear industry from scratch.

    At least one issue seems to have been resolved by the committee’s inquiry. Evidence it received almost unanimously dismissed the idea small modular reactors (SMRs) will arrive in time to be relevant to Australia’s energy transition – if they are ever developed.

    The Coalition’s dissenting comments did not attempt to rebut this evidence.

    Looking ahead

    Undoubtedly, existing nuclear power plants will play a continued role in the global energy transition.

    But starting a nuclear power industry from scratch in Australia is a nonsensical idea for many reasons – not least because it is too expensive and will take too long.

    In the context of the coming federal election, the nuclear policy is arguably a red herring – one designed to distract voters from a Coalition policy program that slows the transition to renewables and drags out the life of dirty and unreliable coal-fired power.

    The Conversation

    John Quiggin is a former member of the Climate Change Authority. His submission to the nuclear electricity generation inquiry was cited in the interim report

    ref. New report skewers Coalition’s contentious nuclear plan – and reignites Australia’s energy debate – https://theconversation.com/new-report-skewers-coalitions-contentious-nuclear-plan-and-reignites-australias-energy-debate-250912

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Bigbank’s Unaudited Financial Results for Q4 and 12 months of 2024

    Source: GlobeNewswire (MIL-OSI)

    Bigbank’s gross loan portfolio reached a record 2.2 billion euros at the end of the year, increasing by 137 million euros (+7%) quarter on quarter and by 535 million euros (+32%) year on year. The focus product lines showed solid quarter-on-quarter growth. The business loan portfolio grew by 61 million euros (+9%) to 764 million euros and the home loan portfolio by 79 million euros (+15%) to 613 million euros. The consumer loan portfolio decreased by 9 million euros (-1%) quarter on quarter to 828 million euros.

    Bigbank’s deposit portfolio grew in the fourth quarter mainly through term deposits. During the quarter, the term deposit portfolio grew by 118 million euros to 1.36 billion euros (+10%) and the savings deposit portfolio by 8 million euros to 1.03 billion euros (+1%). The Group’s total deposit portfolio grew by 127 million euros (+6%) quarter on quarter and by 456 million euros (+24%) year on year to 2.39 billion euros.

    In December, Bigbank also started offering current accounts to existing retail customers in Estonia, which will further diversify the deposit portfolio, but the balance of current accounts was still marginal at the end of 2024.

    In the fourth quarter of 2024, Bigbank earned a net profit of 4.6 million euros. Net profit for the 12 months of 2024 was 32.3 million euros. Compared to the restated results for 2023, fourth-quarter net profit decreased by 6.6 million euros and 12-month net profit by 8.3 million euros.

    In the fourth quarter, interest income grew by 5.7 million euros year on year to 43.4 million euros (+15%). Interest expense grew by 5.3 million euros to 20.1 million euros (+36%). Bigbank’s net interest income for the fourth quarter was 23.3 million euros, up 0.4 million euros year on year, and net interest income for the year was 102.4 million euros, up 6.7 million euros (+7%) year on year.

    In the fourth quarter, the credit quality of the loan portfolio remained stable. However, changes were observed in the credit quality of the loan portfolio over the course of 2024. The decline in the quality of the consumer loan portfolio, which started in the last quarter of 2023, continued in the first quarter, but the situation stabilised in the following quarters. During the year, there was also some deterioration in the business loan portfolio, where the share of past due loans increased, but due to strong collateral positions this did not have a significant impact on loss allowances. The credit quality of home loans remained very good throughout the year.

    In the fourth quarter, loss allowances for loans decreased by 0.3 million euros year on year to 4.6 million euros, but during the year loss allowances grew by 5.0 million euros to 23.9 million euros. Compared to the end of 2023, the share of stage 3 (non-performing) loans grew by 59.5 million euros and accounted for 4.9% of the total loan portfolio at the end of 2024 (+1.9 pp from the end of 2023). Compared to the end of the third quarter, the share of stage 3 loans in the total loan portfolio remained stable.

    The Group’s investment property portfolio increased to 66.4 million euros by the end of the fourth quarter (+35% from end-2023). Changes in the fair value of investment properties resulted in a loss of 1.6 million euros for both the fourth quarter and the full year. For comparison, the 12-month result for 2023 was a profit of 3.4 million euros, which included a profit of 4.4 million euros in the fourth quarter. This is also the main reason why the Group’s net profit for the fourth quarter of 2024 was 6.6 million euros lower than in the same period of 2023.

    Income statement, in thousands of euros Q4 2024 Q4 2023 12M 2024 12M 2023
    Net interest income 23,266 22,949 102,356 95,667
    Net fee and commission income 2,499 2,168 9,224 8,284
    Net income (loss) on financial assets 1,145 4,246 5,246 9,222
    Net other operating income -1,350 -1,940 -4,150 -3,626
    Total net operating income 25,560 27,423 112,676 109,547
    Salaries and associated charges -8,204 -6,345 -27,780 -24,032
    Administrative expenses -2,766 -4,025 -11,547 -15,183
    Depreciation, amortisation and impairment -2,052 -2,039 -8,349 -6,400
    Total expenses -13,022 -12,409 -47,676 -45,615
    Provision expenses (income) -1,730 4,662 -1,836 3,780
    Profit before loss allowances 10,808 19,676 63,164 67,712
    Net loss allowances on loans and financial investments -4,606 -4,896 -23,899 -18,881
    Profit before income tax 6,202 14,780 39,265 48,831
    Income tax expense -1,514 -3,432 -7,017 -7,601
    Profit for the period from continuing operations 4,688 11,348 32,248 41,230
    Income (loss) from discontinued operations 0 -18 29 -575
    Profit for the period 4,688 11,330 32,277 40,655
    Statement of financial position, in thousands of euros 31 Dec 2024 30 Sept 2024 31 Dec 2023 restated*
    Cash and cash equivalents 448,661 475,284 518,672
    Debt securities at FVOCI 22,334 14,992 15,400
    Loans to customers 2,196,482 2,059,625 1,662,002
    Other assets 110,939 87,126 91,324
    Total assets 2,778,416 2,637,027 2,287,398
    Customer deposits and loans received 2,401,689 2,274,269 1,946,314
    Subordinated notes 91,668 83,437 76,109
    Other liabilities 15,277 14,585 20,182
    Total liabilities 2,508,634 2,372,291 2,042,605
    Equity 269,782 264,736 244,793
    Total liabilities and equity 2,778,416 2,637,027 2,287,398

    Commentary by Martin Länts, chairman of the management board of Bigbank AS:

    “In 2024, Bigbank continued its strategic growth, focusing on expanding its loan and deposit portfolios and developing everyday banking services. Our loan portfolio grew to 2.2 billion euros (+32%), while our deposit portfolio reached 2.4 billion euros (+24%). The number of active customers increased by 16,600 over the year to more than 167,300. Customer satisfaction remained high, with our Net Promoter Score (NPS) at 57 points.

    One of the key achievements of the year was integration with the SEPA instant payment system and the launch of a current account in Estonia, enabling customers to send and receive payments within seconds, 24/7. This is an important step towards everyday banking services, which we plan to expand to our other markets soon.

    The main drivers of our continued growth were home and business loans – our home loan portfolio grew by 75%, while business loans increased by 32% year-on-year. The trust our customers place in us, thanks to our personalised approach, fast processes and competitive terms, confirms that we are on the right track. At the same time, we maintained attractive deposit rates and expanded our deposit offering – for example, we introduced a term deposit for retail customers in Lithuania and a savings deposit in Latvia and Bulgaria. We also launched a savings deposit for corporate customers in Latvia and Lithuania.

    Despite the declining Euribor environment and continued high deposit rates, Bigbank maintained strong profitability, generating a net profit of 32.3 million euros in 2024. This demonstrates our ability to offer competitive products and services in both the lending and deposit markets, while ensuring sustainable growth.

    In November 2024, Bigbank reached a significant milestone when the central bank of Estonia designated us as a systemically important credit institution. This decision underscores our growing role in Estonia’s financial sector and validates our strategic direction. We also carried out successful bond issues, raising 20.4 million euros in additional capital to support further expansion and strengthen our capital structure.

    I sincerely thank the entire Bigbank team for their dedication and determination. My gratitude also goes to our customers, investors and partners – your trust and support inspire us to deliver even better financial services and to grow together.”

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 31 December 2024, the bank’s total assets amounted to nearly 2.8 billion euros, with equity close to 270 million euros. Operating in nine countries, the bank serves more than 167,000 active customers and employs over 500 people. The credit rating agency Moody’s has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.

    Argo Kiltsmann
    Member of the Management Board
    Tel: +372 53 930 833
    Email: Argo.Kiltsmann@bigbank.ee 
    www.bigbank.ee

    Attachment

    The MIL Network

  • MIL-OSI USA: Jason Bohrer Named Communications Director for Senator Kevin Cramer

    US Senate News:

    Source: United States Senator Kevin Cramer (R-ND)

    ***Click here to download audio.***

    WASHINGTON, D.C. – U.S. Senator Kevin Cramer (R-ND) has named Jason Bohrer, former President and Chief Executive Officer of the Lignite Energy Council, to serve as Communications Director in his Washington, D.C. office. 

    Bohrer is leaving the Lignite Energy Council after nearly 12 years with the trade association headquartered in Bismarck, N.D. A graduate of North Dakota State University and the George Mason University Antonin Scalia Law School, Bohrer previously held Capitol Hill positions as a Chief of Staff, Legislative Counsel/Director and Director of Constituent Communications for members of the U.S. Senate and House of Representatives.  

    “My team and I started working with Jason shortly after we went to Congress,” said Cramer. “He was working for Congressman Raul Labrador, who is now Idaho’s Attorney General and a good friend of mine. We worked closely together on natural resources and energy issues, but many others as well.  When Jason came to North Dakota to be president of the Lignite Energy Council I was happy to be a strong advocate for that. Now, after 12 years in the state, I’m thrilled he’s coming back to Washington and will continue working for North Dakota and North Dakotans in my office. He’s a great communicator, organizer, and manager. He’s also a team leader and will be a tremendous asset to the people of North Dakota. I’m honored he’s chosen to come to work for us and help us in this very new and important session of Congress.” 

    “I met Senator Cramer when he was first elected to Congress in 2012,” said Bohrer. “I was impressed by his authenticity, consistency and dedication to his principles. Obviously, from my work at the Lignite Energy Council I am familiar with his national leadership on energy policy. But I have also watched him rise to become one of the nation’s strongest voices for other common sense and constitutionally-consistent solutions. Senator Cramer has been a huge part of the North Dakota success story, and I’m excited to join him as he continues to take proven North Dakota policies to Washington, D.C., to unleash American energy and return to sound federalist principles of law and order.”

    Elected to his second term in the U.S. Senate in November, Cramer’s Senate committee assignments are Armed Services; Environment and Public Works; Veterans’ Affairs, and Banking, Housing and Urban Affairs. An energy policy expert, in 2003 he began serving nearly a decade as a North Dakota Public Service Commissioner and helped oversee the most dynamic economy in the nation.

    Bohrer will begin his position on April 7.

    MIL OSI USA News

  • MIL-OSI New Zealand: Energy – ELECTRIFY QUEENSTOWN: POWERING INNOVATION, COST SAVINGS AND DECARBONISATION

    Source: Electrify Queenstown

    Wednesday 26 February 2025 (Queenstown, New Zealand) — Queenstown businesses and households are invited to explore practical ways to save money, become more energy efficient, and decarbonise with the return of Electrify Queenstown in May.

    Building on the success of last year’s inaugural event, Destination Queenstown, with support from Queenstown Business Chamber of Commerce, will present a three-day programme designed to innovate and inspire change in the Queenstown Lakes.

    With principal sponsor Aurora Energy onboard for the second year, Electrify Queenstown promises to deliver an electric experience for the Queenstown community.

    Mat Woods, Destination Queenstown Chief Executive, says this year’s expanded programme caters to tourism operators, business owners, homeowners and anyone curious about making the switch to enable fully electric heating, cooking and transport.

    “Electrify Queenstown will share ideas and innovations to support businesses and households to electrify, save money and decarbonise. We’re excited about the win-win potential of electrification in supporting a vibrant, growing economy while protecting the environment for future generations,” he said.

    The opening day on Monday 26 May will take stage at Skyline Queenstown, a trailblazer in tourism innovation and electrification.

    Queenstown Lakes District Mayor, Glyn Lewers, will open with a welcome address followed by keynote speaker Saul Griffith — globally acclaimed author and entrepreneur sharing insights on why we must electrify and switch to renewable technology. An inspirational line up of speakers includes industry experts, policy makers and innovators who will present both the challenges and the vast potential of electrification from an economic, environmental and social perspective.

    Sharon Fifield, Queenstown Business Chamber Chief Executive, said, “It’s important, in what has recently been a tough economic climate, that any changes made in your business don’t sacrifice your bottom line. We’re thrilled to have experts joining Electrify Queenstown to share the benefits and opportunities that come with electrifying a business including cost savings, improved productivity, and emissions reductions.”

    On the second day, a full programme at the Queenstown Events Centre will spark conversations about the opportunities for businesses and households with electrification, and innovations in electric transport. A tradeshow exhibition will display new technology, low rate loans and exclusive deals, plus the opportunity to join interactive workshops led by experts in electrification and renewable energy. The community evening session from 6pm will focus on the energy transition, how to electrify your home and the role of electrification in community resilience.

    The third and final day will involve immersive electric experiences, sharing the very best in tourism innovation and technology, from local operators and global leaders.

    Lines company Aurora Energy is proud to once again be the principal sponsor of the Electrify Queenstown event.

    Richard Fletcher, Aurora Energy Chief Executive, said, “The growth of this event from one day to three days highlights the increasing demand and interest in electrification within our region. Aurora Energy is committed to ensuring that our network is ready to enable the future electricity and technology choices of consumers.

    “In supporting events such as these we hope we can play a part helping local businesses and communities be informed about the benefits of electricity, whether it is supplied from the national grid or generated and stored locally. We look forward to meeting with those attending, and discussing how we can work together towards a sustainable, efficient, and resilient future.” Richard said.

    Electrify Queenstown will take place over three days from 26 – 28 May 2025. Registrations are open for individual sessions, a day pass, or for the full three-day event.  

    For more information visit: electrifyqueenstown.co.nz

    Electrify Queenstown programme summary

    Monday 26 May 2025: Setting the stage for electrification (Skyline Queenstown)
    Tuesday 27 May 2025: Electrification in action (Queenstown Events Centre)
    Wednesday 28 May 2025: Electric experiences (Details coming soon)

    MIL OSI New Zealand News

  • MIL-OSI USA: Senate passes Kennedy resolution to repeal Biden admin rule targeting offshore oil and gas production

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)

    Watch Kennedy’s comments here.

    WASHINGTON – Sen. John Kennedy (R-La.) today led the Senate in passing a Congressional Review Act (CRA) joint resolution of disapproval to reverse the Bureau of Ocean Energy Management’s (BOEM) rule that targeted oil and gas production in the outer continental shelf. Kennedy’s resolution passed with bipartisan support and now moves to the House of Representatives for consideration.
    Kennedy explained in a speech on the Senate floor that the Biden administration’s rule places an immense burden on small oil and natural gas producers by forcing them to map the ocean floor in search of shipwrecks before they could begin production.
    Key excerpts of the speech are below:
    “We’ve surveyed the entire Gulf of America in the 87 years since we started drilling there. We have surveyed 311,652 square nautical miles—the surface area of Texas and California put together. That’s how we found 4,000 shipwrecks, and it’s cost hundreds of hundreds of millions of dollars. So, we know what’s there.”
    “Well, in Sept. 2024, the Department of Interior—in a midnight regulation in an effort to try to further hurt fossil fuels—passed a new rule, and they said, ‘Look, we know we’ve surveyed the entire Gulf . . . but every time you drill a new well, we want you to survey again.’ Why? I mean, what’s the benefit?”
    . . .
    “So, I’m going to try to kill the regulation today under what—as you know, Mr. President—is called the Congressional Review Act. . . . I realize that common sense, as I’ve said before, is illegal in Washington. This is not a normal place, but I hope folks who still have common sense will vote to get rid of this foolish rule.”
    Background:
    On Sept. 3, 2024, the Biden administration published a rule requiring all new oil and gas leaseholders on the outer continental shelf to submit an archaeological report to the BOEM before drilling or laying pipelines. The rule burdens lessees with conducting costly surveys for marine archaeological resources, such as shipwrecks or “cultural resources.” 
    This rule replaces BOEM’s long-standing policy of requiring oil and gas operators to conduct archaeological surveys only when there was a “reason to believe” that an archaeological resource may be present. 
    The Biden administration admitted that this rule would harm small oil and gas producers most, writing, “100 percent of the increased Gulf of [America] compliance cost . . . would be borne by operators that are small entities.” Small and independent operators account for one-third of all oil production in the Gulf of America.
    On Feb. 4, 2025, Kennedy introduced his CRA joint resolution of disapproval to repeal the rule. This is one of more than 225 harmful regulations that the Biden administration levied against the oil and natural gas industry.
    Watch Kennedy’s full speech here.
     

    MIL OSI USA News

  • MIL-OSI Australia: Pumped hydro: current projects in development across Australia

    Source: Allens Insights

    A snapshot 5 min read

    Following the procurement and contractual close of the Kidston Pumped Hydro Project and Snowy 2.0, multiple pumped hydro energy storage (PHES) projects have been announced, and are in the early stages of planning and procurement. While government support remains important, the development pipeline has grown to include a healthy mix of rehabilitation projects and private sector-led projects.

    A snapshot of the PHES projects currently under development, procurement or delivery in the Australian market is set out in the timeline and tables below. These PHES projects accumulate to 13.5 GW/496 GWh of storage capacity potentially operational by the early 2030s. If successful, these projects would fulfill a significant portion of the Australian Energy Market Operator’s forecast of the National Electricity Market needing at least 36 GW/522 GWh of storage capacity by 2035 and 56 GW/660 GWh of storage capacity by 2050 in order to reach net zero.

    Timeline of projects currently in development

    Key details of pumped hydro projects in development

    The following projects are being led by the federal government, through government business enterprises, or state governments, through state owned government corporations.

    The following projects have government support through development agreements awarded by WaterNSW.

    The following projects propose to rehabilitate and repurpose existing mine sites for the development of PHES projects.

    The following projects are being led by private developers.

    MIL OSI News

  • MIL-OSI USA: English/Español: House Republican Leadership Statement on Passage of House Budget Resolution

    Source: US House of Representatives Republicans

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

    WASHINGTON — Speaker Johnson, Majority Leader Scalise, Majority Whip Emmer, and Conference Chairwoman McClain issued the following statement after the House passed its FY25 budget resolution:

    “Today, House Republicans moved Congress closer to delivering on President Trump’s full America First agenda — not just parts of it.

    “This momentum will grow as we work with our committee chairs and Senate Republicans to determine the best policies within their respective jurisdictions to meet budgetary targets. We have full confidence in their ability to chart the best path forward.

    “While there is still much more to do, we are determined to send a bill to President Trump’s desk that secures our border, keeps taxes low for families and job creators, restores American energy dominance, strengthens America’s standing on the world stage, and makes government work more effectively for all Americans.”

    Overview: 

    1. Economic Growth: Grows the economy by $2.6 trillion over 10 years from 2.6 percent average growth, compared to CBO’s estimate of 1.8 percent growth
    2. Discretionary Spending: Saves $829 billion
    3. Mandatory Savings: Provides a floor of at least $1.5 trillion with a goal of $2 trillion in mandatory savings over 10 years
    4. Debt Ceiling: Increases by $4 trillion covering two years
    5. Key Priorities: Extends President Trump’s signature tax cuts and provides funding for border security and national defense

    FY25 Budget Resolution text is available here.

    Expresiones del Liderato Republicano de la Cámara ante la Aprobación de la Resolución de Presupuesto 

    WASHINGTON – El presidente de la Cámara de Representantes de los Estados Unidos, Mike Johnson, el líder de la mayoría Steve Scalise, el líder de la mayoría Tom Emmer y la presidenta de la conferencia Lisa McClain emitieron las siguientes declaraciones luego de que la Cámara aprobara su resolución presupuestaria para el año fiscal 2025:

    “La Conferencia Republicana está avanzando en el proceso legislativo para implementar la agenda completa de América Primero del presidente Trump, no solo partes de ella.  

    “Este momentum crecerá a medida que trabajemos con los presidentes de nuestros comités y el Senado republicano para determinar las mejores políticas dentro de sus respectivas jurisdicciones para cumplir con los objetivos presupuestarios. Tenemos plena confianza en su capacidad para trazar el mejor camino a seguir.

    “Aunque todavía queda mucho más por hacer, estamos decididos a enviarle al presidente Trump un proyecto de ley que incluya seguridad para la frontera, mantenga bajas las tasas contributivas para las familias y los creadores de empleo, restablezca el dominio energético estadounidense, fortalezca la posición de Estados Unidos en el escenario mundial y haga que el gobierno funcione de manera más efectiva para todos los ciudadanos americanos”.

    Resumen:  

    1. Crecimiento Económico: $2.6 trillones en 10 años en crecimiento económico, desde un crecimiento promedio del 2.6 por ciento, en comparación con la estimación de la CBO de un crecimiento del 1.8 por ciento
    2. Gastos Discrecionales: Ahorra $829 mil millones
    3. Ahorros Obligatorios: Establece una cantidad mínima de al menos $1.5 trillones, con una meta de $2 trillones, en ahorros obligatorios durante10 años
    4. Tope de la Deuda: Aumenta $4 trillones en dos años
    5. Prioridades Clave: Extiende los recortes de impuestos del presidente Trump y proporciona fondos para la seguridad fronteriza y la defensa nacional.

    Acceda al texto completo de la resolución presupuestaria para el año fiscal 2025 aquí.

    MIL OSI USA News

  • MIL-OSI New Zealand: Auckland University – Business School celebrates triple crown

    Source: University of Auckland Business School

    The University of Auckland Business School is in the top one percent in the world, receiving sought-after accreditation from three international organisations – the Association to Advance Collegiate Schools of Business (AACSB), the Association of MBAs (AMBA) and the European Quality Improvement System (EQUIS).

    It was the first in Australasia to attain this ‘triple crown’ in 2004, a recognition it has now maintained for two decades making it the longest-standing triple crown accredited school in the region.

    All three international accrediting bodies praised many aspects of its operations in the latest round of accreditation awards.

    The European Quality Improvement System awarded accreditation to the School based on overall quality, viability and a commitment to continuous improvement. It also considered internationalisation and corporate connections.

    The Business School’s commitment to excellence, academic quality and innovative programme design were among several areas that impressed assessors from the Association of MBAs, an institution known for stringent criteria that evaluate teaching, curriculum and student interaction.

    Meanwhile, accreditation from the Association to Advance Collegiate Schools of Business is achieved by just six percent of the world’s business schools and is considered the gold standard in global business education.

    Business schools that earn this accreditation must demonstrate a commitment to excellence in teaching, research, curriculum development and student success. In the latest accreditation renewal, the organisation commended the Business School for its outstanding research engagement, research-led teaching and strong commitment to positive societal impact through faculty and departmental research centres.

    It said: “The recent establishment of the Energy Centre and Inclusive Capitalism Centre as faculty-level research centres has brought increased emphasis to research agendas of critical significance for New Zealand and the Asia-Pacific region.”

    It also praised the Business School for actively driving initiatives to improve research impact, such as the national research translation competition, which sees academics translate complex studies into relatable reads.

    “Additionally, the experience of the School in developing a wide range of research engagements and collaborations with industry partners, such as with prominent Māori owned seafood company, Moana New Zealand, lead the way in informing classroom learning through rich case study development that prioritises local issues and solutions.”

    Business School Dean Susan Watson says the triple crown achievement is a testament to the School’s exceptional performance across teaching, research, student success and industry engagement.

    “With the successful completion of all three accreditations in an exceptionally compressed timeframe, the Business School continues to demonstrate remarkable organisational capability and sustained excellence,” she says.

    “This recognises our innovative programme design, impactful research and meaningful industry engagement – both in New Zealand and on the world stage.”

    She says the Business School also earned accolades for its cultural leadership.

    “Our unique integration of Māori perspectives and commitment to diversity sets us apart globally. We combine international best practice with local cultural excellence.”

    MIL OSI New Zealand News