NewzIntel.com

Category: European Union

  • MIL-OSI Europe: Written question – Apollo Vredestein workers fall victim to inadequate State aid rules – P-001790/2025

    Source: European Parliament

    Priority question for written answer  P-001790/2025
    to the Commission
    Rule 144
    Tom Berendsen (PPE)

    Just over a year from now, the Apollo Vredestein tyre factory in Enschede will close its doors and around 500 employees will lose their jobs[1]. The Indian parent company intends to move production primarily to the plant in Hungary.

    With this, the worst-case scenario has unfortuantely become reality. Like many companies in the manufacturing industry, Vredestein is suffering from higher costs, especially energy costs. At the same time, this decision seems to have been facilitated by the State aid the company received for its plant in Hungary. Concerns about this have been around for quite some time, as evidenced, inter alia, by the questions I and other colleagues have already raised about this with the Commission[2].

    The closure of Apollo Vredestein has a major impact on the 500 employees, their families and the Twente region more generally. Moreover, such developments undermine the level playing field in the Union and thus public support for European cooperation. Accordingly:

    • 1.Does the Commission still believe that all those involved in this case acted in accordance with the spirit and letter of the current State aid rules?
    • 2.Does the Commission share my view that the State aid rules should be revised so that similar situations can be avoided in the future?
    • 3.What can the Commission do to help the affected workers and the Twente region cope with this economic blow?

    Submitted: 2.5.2025

    • [1] https://www.tubantia.nl/enschede/zwarte-dag-voor-twente-vredestein-sluit-volledige-fabriek-500-medewerkers-op-straat~a4fafae3/.
    • [2] Questions for written answer E-001536/2020, P-003353/2020, E-004663/2020, E-006949/2020, E-003607/2021 and E-005190/2021.
    Last updated: 8 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Multiannual financial framework support for EU regions bordering Russia – E-001735/2025

    Source: European Parliament

    Question for written answer  E-001735/2025
    to the Commission
    Rule 144
    Mika Aaltola (PPE)

    Russia’s war against Ukraine has had far-reaching consequences, not only for Ukraine but also for many EU Member States, particularly those sharing a border with Russia. The economic and geopolitical impact on these border regions has been substantial.

    Currently, the allocation of EU Cohesion Fund financing is primarily based on gross domestic product, a metric that does not adequately reflect the specific challenges faced by countries such as Finland. Given Finland’s 1 350 km border with Russia, the repercussions of the conflict have been especially acute, in terms of economic, social and security concerns.

    • 1.In the light of these challenges, could the Commission consider an alternative mechanism for allocating funds to support regions bordering Russia in the upcoming multiannual financial framework?
    • 2.Additionally, given the security risks posed by Russia in the region, how does the Commission plan to ensure adequate investments in security measures?

    Submitted: 30.4.2025

    Last updated: 8 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Urgent initiatives to review phytosanitary policies – E-001767/2025

    Source: European Parliament

    Question for written answer  E-001767/2025
    to the Commission
    Rule 144
    Stefano Cavedagna (ECR), Carlo Fidanza (ECR), Nicola Procaccini (ECR), Antonella Sberna (ECR), Sergio Berlato (ECR), Michele Picaro (ECR), Francesco Ventola (ECR)

    In the last few years, increasingly restrictive EU rules on pesticides have widened the competitive gap between EU agriculture and that of third countries, such as Mercosur, which have less stringent standards.

    This disparity penalises European producers, who are already working on sustainability and have been hit by structural crises linked to energy costs, labour shortages and emergencies caused by extreme weather.

    In this context, many agricultural operators are calling for a better balance between environmental requirements and economic sustainability, as well as for a more gradual and realistic approach to the introduction of new pesticide restrictions, which takes account of the time needed to develop and market effective alternative solutions.

    In the light of the above:

    • 1.What measures does the Commission intend to adopt to guarantee fair competition for EU and non-EU producers, in view of the impact of phytosanitary policies on the competitiveness of agriculture?
    • 2.What measures does the Commission plan to take to promote innovation in plant health products in full respect for the agricultural sector’s needs, while coordinating research and development on effective alternatives to the active ingredients subject to restrictions?

    Submitted: 30.4.2025

    Last updated: 8 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Deportations of refugees from Germany to countries of first entry such as Greece – E-001763/2025

    Source: European Parliament

    Question for written answer  E-001763/2025
    to the Commission
    Rule 144
    Kostas Papadakis (NI), Lefteris Nikolaou-Alavanos (NI)

    The unacceptable and dangerous decision by the Federal Constitutional Court of Germany to deport two refugees to Greece, claiming that the refugees had first been granted asylum there and could secure ‘bread, bed and soap’, paves the way for mass deportations of thousands of uprooted people to countries of first entry and to Greece, on the basis of reactionary EU and government guidelines. It thus promotes the perpetuation of their being trapped in them. The decision follows the reactionary package of measures in the EU’s Pact on Migration and Asylum. This Pact, inter alia, maintains the provision for entrapping people in their country of first entry on the basis of the Dublin regulations for recognised refugees and asylum seekers.

    In view of this:

    • 1.What is the Commission’s position on the fact that the deportation by the German authorities of two recognised refugees to Greece, which constitutes an application of the Pact on Migration and Asylum, preserving the responsibility of the first country of entry under the Dublin regulations, paves the way for dangerous mass deportations to Greece and other countries of first entry?
    • 2.What is the Commission’s position on the fact that, on the basis of the above, conditions are being created for the perpetuation of the entrapment of refugees, contrary to their rights stemming from the Geneva Refugee Convention and their right to be able to travel to their countries of destination?

    Submitted: 30.4.2025

    Last updated: 8 May 2025

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Inverness gull study

    Source: Scotland – Highland Council

    The Highland Council, with input from NatureScot, have appointed an independent consultancy to undertake a baseline census and distribution study of gulls in the centre of Inverness.

    Leader of Inverness and Area, Councillor Ian Brown said: “While Highland Council has no statutory duty to take action against any type of gull, the Council hopes that the findings from this study will provide evidence for and inform any future development of a Gull Management Plan for the City of Inverness.”

    The survey will take place in May and has been designed to coincide with the start of the nesting period when gull numbers will be reaching their peak, and birds are at their most active.

    The survey will follow an adapted methodology from the Joint Nature Conservation Committee Seabird Monitoring Programme’s Urban Gull Census.

    Covering an area of over 5km2 of central Inverness from Bught Park in the south to the Kessock Bridge in the north, the survey will include the commercial heart of Inverness, the Longman Industrial Estate, Crown Circus and popular riverside locations including Eden Court Theatre, Inverness Cathedral, Inverness Castle and Ness Walk.

    The survey will also assess an additional 20 key buildings across the wider city, including the Council’s school estate.

    The work will primarily be ground-based and will count all gull species present with their location noted on mobile GIS recording software along with gull behaviour, whether nesting, occupying territory, foraging or resting.

    Information on gulls can be found on the Council’s website at this link.

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Written question – The EU directive that in practice undermines the signing of collective agreements – E-001731/2025

    Source: European Parliament

    Question for written answer  E-001731/2025
    to the Commission
    Rule 144
    Lefteris Nikolaou-Alavanos (NI), Kostas Papadakis (NI)

    The Nea Dimokratia Government in Greece appears to acknowledge ‘the need to meet the target of 80% coverage of workers by collective agreements’ and invokes Directive (EU) 2022/2041 on adequate minimum wages in the European Union.

    The directive, which is falsely represented as a means of ‘strengthening collective bargaining’, does not lay down any obligation to draw up collective agreements. Its only ‘obligation’ is for governments to draw up ‘action plans’. Moreover, it states that nothing in the directive may be construed as imposing an obligation on any Member State to declare any collective agreement universally applicable.

    In light of the above, can the Commission answer the following:

    • 1.What view does it take of the fact that Law 5163/2024 of the Greek Government, which fully transposes Directive (EU) 2022/2041, has led to poverty-level minimum wages and at the same time increased employer arbitrariness and organised planning by large employers to refuse to sign collective agreements or to avoid being bound by existing collective agreements through various arrangements (e.g. a refusal to set up employers’ organisations or to integrate them into employers’ organisations, etc.)?
    • 2.What view does it take of the fact that the target of ‘80% coverage of workers by collective agreements’, supposedly pursued by the directive, is not a binding objective, since the directive does not require that collective agreements are universally applicable, nor does it oblige employers to sign and implement them, and nor does it provide any monitoring or sanction mechanism for countries or companies that infringe workers’ rights, including the right to collective bargaining with employers?

    Submitted: 30.4.2025

    Last updated: 8 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Strengthening European rail infrastructure to enhance defence preparedness and strategic resilience – E-001745/2025

    Source: European Parliament

    Question for written answer  E-001745/2025
    to the Commission
    Rule 144
    Dan-Ştefan Motreanu (PPE)

    The Community of European Railway and Infrastructure Companies (CER) has called on political leaders, businesses and stakeholders to prioritise investment in rail infrastructure and rolling stock in order to support the EU’s defence capabilities and resilience. In the current geopolitical context, the ability to efficiently transport military assets is crucial. Railways serve as the backbone of Europe’s defence logistics, underpinning both military mobility and broader strategic objectives.

    CER’s position paper of 18 February 2025 identifies key actions needed, including expanding rail network capacity and interoperability, investing in digital systems, replenishing and adapting rolling stock for military purposes, safeguarding infrastructure against cyberthreats and hybrid threats, and strengthening intermodal connections.

    This need is even more pressing in Member States such as Romania, which, due to its proximity to conflict zones, plays a critical role in ensuring rapid and secure military mobility. Modern and resilient infrastructure in these border regions is vital for the EU’s collective security and for maintaining supply chains that are under strain.

    In the light of these strategic imperatives, what measures does the Commission intend to propose to strengthen targeted investment in rail infrastructure and military mobility, particularly in frontline Member States, to ensure Europe’s resilience and defence readiness?

    Submitted: 30.4.2025

    Last updated: 8 May 2025

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Chairs appointed to Poverty and Equality Commission for Highland

    Source: Scotland – Highland Council

    Maggie Cunningham and Dr. Jim McCormick have been appointed as co-chairs of a new multi-partnership Poverty and Equality Commission Board.

    These two key appointments will be instrumental in supporting The Highland Council and Community Planning Partners in gaining a better understanding of how poverty affects families in the Highlands and how service delivery needs to change to better address poverty-related issues.

    Maggie Cunningham worked at a senior level in the BBC for over twenty years including roles of Head of Radio, Scotland and Joint Head of Programmes and Services, Scotland. She is currently Chair of An Comunn Gàidhealach, which runs the Royal National Mòd and supports 20 local Mòds.

    Since 2009, she has worked as a leadership and executive coach. She served six years as a Content Board member of Ofcom until October 2024 and chaired the Board of MG Alba for six years from 2012. She chairs Kyle and Lochalsh Community Development Trust and was an independent member of the Edinburgh Festivals Forum for eight years. She was a founding Board member of Sistema Scotland until 2019 and is a Director of Highland Tourism Community Interest Company (CIC).

    Jim McCormick is Chief Executive of The Robertson Trust, an independent grant-making charity which funds, supports and influences solutions to poverty and trauma across Scotland. He joined the Trust in 2020.

    Previously he was Associate Director Scotland with the Joseph Rowntree Foundation (2017-20), ran an independent research consultancy and was Director of the Scottish Council Foundation think-tank.

    He is a member of the Living Wage Commission. He was previously Chair of the independent Disability and Carers Benefits Advisory Group reporting to the Scottish Social Security Minister (until 2023), Chair of the Edinburgh Poverty Commission (2018-20) and a member of the Social Security Advisory Committee (SSAC) until 2020, which scrutinises the Department for Work and Pensions’ GB regulations.

    In 2018 he was a travelling Churchill Fellow looking at the impact of mentoring programmes for children and young people facing disadvantage in the USA, Canada and New Zealand.

    Leader of the Council, Cllr Raymond Bremner said: “I congratulate Maggie Cunningham and Jim McCormick on their appointments as Chairs of the Poverty and Equality Commission. Highland Councillors have given cross-party support to the creation of the Commission, and I look forward to the progressive and positive work of the Commission that will make a difference to people’s lives.”

    Convener of the Councillor, Cllr Bill Lobban added: “As non-elected independent experts the co-chair appointments will ensure that there is impartial expertise at the centre of the Commission’s Board and its activities. I welcome the Chairs’ appointments who, along with Members of the Commission Board will work to identify strategies, actions and approaches to ease and prevent poverty in Highland.”

    Leader of the Opposition, Cllr Alasdair Christie said: “I am fully supportive of the appointment of the two new chairs who will bring a breadth of knowledge and understanding to the work of the Poverty and Equality Commission. Their specialist awareness will help to support the Commission’s work which will seek to improve the lives of many individuals and children and their families across Highland communities.”

    The Poverty and Equality Commission will report directly to The Highland Council, providing recommendations for action, change and transformation. Updates from the Commission will

    In addition to the two co-chairs appointed the Commission Board will be made up of elected Highland councillors and members from public sector partner organisations, third sector or community representatives.

    The first meeting of the Poverty and Equality Commission was held on 1 May 2025 following which an update on progress to establish the Poverty and Equality Commission will be presented to The Highland Council meeting in June.

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Written question – Illegal trafficking of pesticides – E-001736/2025

    Source: European Parliament

    Question for written answer  E-001736/2025
    to the Commission
    Rule 144
    Benoit Cassart (Renew), Olivier Chastel (Renew), Hilde Vautmans (Renew)

    In June 2024, Europol, supported by Italian, Romanian, Spanish and Portuguese authorities, conducted two major operations to combat the trafficking of illegal pesticides in the EU. The first investigation focused on a company importing counterfeit pesticides from China, while the second investigation targeted a Spanish company illegally importing Portuguese pesticides banned in Spain under the cover of fake denomination of the products.

    The EU Serious and Organised Crime Threat Assessment report entitled ‘The changing DNA of serious and organised crime’ underlines the growing concerns over the trade in counterfeit and illicit pesticides produced in and imported from Asia to the EU, but also highlights EU-based production networks with advanced equipment operating within the EU.

    What actions does the Commission intend to take to combat the illegal trafficking of pesticides, mitigate the negative impact on the environment and ensure the protection of European consumers?

    Submitted: 30.4.2025

    Last updated: 8 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – The future of public interventions in price setting for the supply of electricity – E-000929/2025(ASW)

    Source: European Parliament

    Article 5 of the Electricity Directive[1] provides that suppliers are free to determine the price at which they supply electricity to customers .

    It also provides that Member States may derogate from this provision and implement public i nterventions on price setting under specific conditions[2]. Such interventions must be notified to the Commission.

    Member States were required by the directive to submit reports by 1 January 2025 to the Commission on the implementation of Article 5, the necessity and proportionality of public interventions, and an assessment of the progress towards achieving effective competition and the transition to market-based prices. By now, the Commission has received 14 reports from the Member States[3].

    The Commission is required by 31 December 2025 to review and submit a report to the European Parliament and to the Council on the implementation of Article 5 together with or followed by a legislative proposal, if appropriate.

    This report will be based on the reports submitted by each Member State and on a study on the post-crisis retail market which the Commission is currently steering. It is not possible for the time being to prejudge any of the conclusions of the study or the report.

    • [1] Directive (EU) 2019/944 of the European Parliament and of the Council of 5 June 2019 on common rules for the internal market for electricity and amending Directive 2012/27/EU, OJ L 158, 14.6.2019, p. 125-199.
    • [2] Defined in Article 5 of the Electricity Directive (EU) 2019/944.
    • [3] Austria, Belgium, Germany, Estonia, Spain, Finland, France, Hungary, Ireland, Malta, Netherlands, Poland, Portugal, Slovenia.
    Last updated: 8 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Addressing problems relating to the Greece-Cyprus electricity interconnection project – E-001111/2025(ASW)

    Source: European Parliament

    The Commission is well informed of the latest developments concerning the Great Sea Interconnector project and the associated risks regarding the project implementation schedule.

    The Commission is in regular contact with the Greek and Cypriot authorities, at both Ministerial and technical level, as well as with the energy regulatory authorities of the two countries and the project promoter.

    As a project of common interest under the regulation (EU) 2022/869 of the European Parliament and of the Council of 30 May 2022 on guidelines for trans-European energy infrastructure (‘TEN-E Regulation’)[1], the Great Sea Interconnector continues to have the full support of the European Commission, as it is intended to end the energy isolation of Cyprus, allow for a higher share of renewables in its energy mix, bring the potential to lower energy prices for consumers and increase the security of energy supply of two EU Member States and the EU system altogether.

    Projects of common interest are closely monitored by the Commission and there are regular contacts with both governments concerned. So far, the designation of a European coordinator under Article 6 of the TEN-E Regulation has not been considered for the project in question.

    • [1] https://eur-lex.europa.eu/eli/reg/2022/869/oj
    Last updated: 8 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Struggling farmers and livestock breeders – E-001030/2025(ASW)

    Source: European Parliament

    1. The Commission is fully aware of the challenges faced by many farmers, including in Greece. To address these challenges, the Vision for Agriculture and Food presented on 19 February 2025[1] contains an ambitious roadmap towards an agri-food system that is attractive, competitive, future-oriented, sustainable and fair for current and future generations, including trade and simplification. In particular, the work on the livestock and the simplification package, will look at improving the competitiveness and resilience of the livestock sector.

    2. The current Common Agricultural Policy (CAP) supports interventions that help farmers implement actions to prevent crisis situations and build on medium and long-term resilience. The CAP Strategic Plan 2023-2027 (CSP)[2] for Greece includes tools to support farmers to mitigate short-term impacts, such as direct payments, sectoral and rural development interventions aiming to stabilise farmers’ incomes. In addition, the CSP envisages also support for investments to restore agricultural potential following natural disasters, adverse climatic or catastrophic events.

    Regarding the requests for input subsidies and State guaranteed prices, the Commission is and remains in favour of market orientation. In this context, the Vision states that farmers must get a better revenue from the market and that for this they need to benefit from a fair and equitable food chain. To this end, the Commission already on 10 December 2024[3] adopted a proposal to rebalance the positions in the chain and it will consider further initiatives.

    Other suggestions in relation to taxes, or pensions are largely in the remit of the national authorities or control bodies.

    • [1]  https://agriculture.ec.europa.eu/vision-agriculture-food_en#:~:text=Shaping%20the%20future%20of%20farming%20and%20the%20agri-food,entire%20value%20chain%20within%20the%20EU%20and%20globally
    • [2]  https://www.agrotikianaptixi.gr/category/sskap-2023-2027/sskap-egkrisi-tropopoiiseis/
    • [3]  COM(2024) 576 and 577 final.
    Last updated: 8 May 2025

    MIL OSI Europe News –

  • MIL-OSI Economics: Members seek to broaden ITA participation, examine links with AI and e-commerce

    Source: World Trade Organization

    Members agreed to organize three thematic sessions from the autumn of 2025 to the end of 2026. The first will be on “The Opportunities of ITA Participation: Participants’ and Stakeholders’ Experiences” with a view to expanding participation in the ITA and ITA Expansion Agreement. The second will focus on the ITA’s role in promoting artificial intelligence and other new technologies. The third session will look into the ITA’s role in supporting e-commerce and addressing the digital divide. The Chair of the ITA Committee, Mr. Ta-Lin (Peter) Shih (Chinese Taipei), said the WTO Secretariat and interested members will work together to follow up on the details of these sessions and keep the Committee informed of further developments.

    The Chair also updated members on his consultations on furthering discussions on non-tariff measures (NTMs) imposed by governments to regulate trade, which members further discussed at the meeting.

    Suggestions included focusing on NTMs imposed on the most traded ITA products, such as mobile phones and computers, and tackling NTMs related to the remanufacturing of electronic products, which refers to disassembling and repairing used devices. Members also suggested organizing joint sessions with the Committee on Technical Barriers to Trade (TBT), undertaking a survey to identify NTMs participants would like to discuss, and revitalizing the NTMs working group. The Chair encouraged members to elaborate on their suggestions at the next meeting, adding that the next chair could consult on creating a new NTM work programme. The Chairperson of the Goods Council is consulting with members regarding chairpersons for subsidiary bodies, including the ITA Committee.

    ITA product classifications

    In response to members’ requests, the Secretariat provided a working document containing guidance on how to update the classification of 22 IT products so that they align with the 2022 version of the Harmonized System (HS) — the system used for classifying traded goods and determining the tariffs applied to them. Members have not so far agreed on common HS codes for these 22 products, which include flat panel displays and network equipment. The Secretariat noted that the document is prepared on its own responsibility based on its best judgement on how the classifications should evolve, adding that it has asked the World Customs Organization for feedback on the document.

    The European Union; Japan; Hong Kong, China; and the United Kingdom thanked the Secretariat for this new initiative and the way forward proposed, indicating that they would study the working document, with several noting that it represents a good start to resolving classification divergences among members and ensuring the healthy functioning of the ITA.

    ITA implementation issues raised at the meeting included concerns about Indonesia’s and Egypt’s import duties on IT products and mobile phones considered by participants to be covered by the ITA. These concerns have also been raised at previous meetings.

    Next meeting

    The next meeting is tentatively scheduled for 4 November. Additional meetings may be convened as required.

    Share

    MIL OSI Economics –

  • MIL-OSI NGOs: Lithuania: Decision to leave convention banning anti-personnel mines could put civilian lives at risk

    Source: Amnesty International –

    Reacting to a vote Lithuanian parliament to withdraw from the Ottawa convention, a landmark treaty prohibiting the use of anti-personnel mines, Esther Major, Amnesty International’s Deputy Director for Research in Europe, said:

    “Today’s decision to leave the Anti-Personnel Mine Ban Convention is a retrograde move that will only further weaken the global consensus aimed at minimizing civilian harm during armed conflict.

    “Anti-personnel mines are inherently indiscriminate weapons. They have devastating effects on civilians, sometimes decades after they are deployed, while unexploded anti-personnel landmines can blight whole regions for generations. The use of weapons which are by their nature indiscriminate is prohibited under customary international humanitarian law.

    “This move, which follows the country’s recent withdrawal from the Convention on Cluster Munitions, is part of a disturbing trend which last month saw the Estonian government approve a proposal to withdraw from the convention, and the Latvian president sign into law a bill on the country’s exit from the treaty. We call on the Lithuanian government to reverse this decision that could put civilian lives at risk.”

    Background

    The 1997 Anti-Personnel Mine Ban Convention (the Ottawa treaty) bans the use, stockpiling, production, and transfer of antipersonnel mines and currently has 165 states parties.

    In March, the defence ministers of Lithuania, Latvia, Estonia, and Poland issued a joint statement calling on their countries to pull out of the treaty. The Finnish government has recently initiated the process of withdrawing from the Ottawa treaty.

    Today Lithuania’s defence minister tweeted that the country will “resume mine production and acquisition”.

    MIL OSI NGO –

  • MIL-OSI Submissions: Africa – Invest Africa and United Kingdom (UK) Government Announce Strategic Partnership for The Africa Debate – London

    SOURCE: Invest Africa

    As the UK’s leading forum for high-level dialogue on Africa’s economic trajectory, The Africa Debate 2025 will convene over 500 senior leaders from government, finance, and industry to explore this year’s theme: “Harnessing Natural Capital for Growth”

    LONDON, United Kingdom, May 8, 2025 – Invest Africa (www.InvestAfrica.com), the leading platform for promoting trade and investment across the African continent, is proud to announce a strategic partnership with the UK Government for the 11th edition of The Africa Debate, taking place on Wednesday, 2 July 2025 at the historic Guildhall in the City of London.

    As the UK’s leading forum for high-level dialogue on Africa’s economic trajectory, The Africa Debate 2025 will convene over 500 senior leaders from government, finance, and industry to explore this year’s theme: “Harnessing Natural Capital for Growth”. The agenda will examine how African nations can leverage their abundant resources – from critical minerals and biodiversity to human capital – to build globally competitive industries, enhance intra-African value chains, and deliver inclusive, sustainable development.  

    The event comes at a strategically important moment: just over one year into the new UK Government, as it sets out a renewed international agenda focused on trade, investment, and strategic partnership with Africa.

    The Rt Hon. the Lord Collins of Highbury, Minister for Africa, commented: “The UK recognises the critical role Africa plays in the global economy and in shaping a sustainable, inclusive future. We are proud to support The Africa Debate as a strategic platform to deepen trade and investment ties with African partners and boost mutual economic growth between our countries. Our ambition in our new approach to Africa is to support the scale-up of transformative green growth across the continent – and the UK stands ready to be a long-term, trusted partner in that journey.”

    Chantelé Carrington, Chief Executive Officer of Invest Africa, added: “Our collaboration with the UK Government is a major milestone for The Africa Debate. With a new administration in place, this is a crucial opportunity to shape a modern and meaningful UK-Africa relationship centred on mutual benefit. As African economies focus on industrialisation, value addition, and sustainable investment, we are proud to offer a platform that connects the UK’s financial expertise and private sector strength with Africa’s vast economic potential.”

    The Africa Debate 2025 will feature head of state and ministerial keynotes, alongside high-level plenaries and curated side events that convene senior leaders from across Africa and the global investment community. This year’s agenda will examine how the continent can harness its natural capital – through the lenses of finance, industrialisation, and digital innovation – to drive long-term value creation and sustainable development. Our strategic partnership reflects the UK’s commitment to forging deeper, future-oriented relationships with African partners – focused on mobilising investment at scale, promoting inclusive economic growth, and co-creating resilient solutions to shared global challenges.

    Websites:
    Invest Africa (https://apo-opa.co/4k2YU2U)
    The Africa Debate (https://apo-opa.co/43u2xbJ)

    About The Africa Debate:
    The Africa Debate is London’s premier investment forum dedicated to shaping the future of African trade, investment, and economic transformation. Now in its 11th year, the event serves as a critical platform for global businesses, investors, policymakers, and thought leaders to engage in high-level discussions on Africa’s evolving role in the global economy.

    About Invest Africa:
    Invest Africa is a leading pan-African business and investment platform, that drives trade and investment across the continent. With over sixty years’ experience in Africa, we provide our network with trusted market insights, tailored business support, and platforms for meaningful engagement. Our network includes more than 400 multinational corporations, investors, policy makers, and entrepreneurs, united by a shared commitment to building sustainable opportunity across Africa.

    MIL OSI – Submitted News –

  • MIL-OSI Video: Ukraine on the situation in the country – Media Stakeout | United Nations

    Source: United Nations (Video News)

    Informal comments to the media by Khrystyna Hayovyshyn, Chargée d’Affaires of the Permanent Mission of Ukraine to the United Nations, on behalf of Ukraine, Albania, Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Montenegro, North Macedonia, Norway, the Netherlands, Portugal, Republic of Moldova, Romania, Slovakia, Slovenia, Spain, Sweden, the United Kingdom and the European Union, on the situation in Ukraine.

    https://www.youtube.com/watch?v=UYys6ZNW_9Y

    MIL OSI Video –

  • MIL-OSI Video: Sudan, South Sudan, UNRWA & other topics – Daily Press Briefing

    Source: United Nations (Video News)

    Noon briefing by Farhan Haq, Deputy Spokesperson for the Secretary-General.

    Highlights:
    – Secretary-General/ Chief Executives Board
    – Sudan
    – Sudan/ Food Assistance
    – South Sudan
    – UNRWA
    – Occupied Palestinian Territory
    – UNIFIL
    – Haiti
    – Democratic People’s Republic of Korea
    – Senior Personnel Appointment – Special Envoy to Combat Islamophobia
    – International Day

    SECRETARY-GENERAL/ CHIEF EXECUTIVES BOARD
    The Secretary-General is in Denmark, where today he is chairing the biannual session of the UN System Chief Executives Board for Coordination, also known as the CEB, which brings together the heads of the UN system organizations.
    During their biannual session, the Chief Executives Board Members will reflect on current world affairs as they affect and are related to the UN system. They will also engage in deliberations on ‘Adapting to New Realities: Leveraging the UN80 Initiative’ and ‘Upholding Respect for International Law’.

    SUDAN
    A statement we issued last night expressed the Secretary-General’s grave concern that recent drone attacks in Port Sudan, the main entry point for humanitarian aid into Sudan, threaten to increase humanitarian needs and further complicate aid operations in the country. The Secretary-General warns that this major escalation could lead to large-scale civilian casualties and further destruction of critical infrastructure.
    The Secretary-General is alarmed at the expansion of the conflict into an area that has served as a place of refuge for large numbers of people displaced from the capital, Khartoum, and other areas.   
    The Secretary-General reiterates that all parties to the conflict must comply with their obligations under international humanitarian law. They must not direct attacks against civilians and civilian objects; must take all feasible precautions to avoid, and in any event to minimize, incidental civilian casualties; and must allow and facilitate rapid and unimpeded passage of humanitarian relief for civilians in need.  
    The Secretary-General calls on the parties to engage constructively with the mediation support mechanisms already in place to assist the parties to reach a political solution, underscoring the United Nations’ continued support to help find a way out of this crisis. He renews his call for an immediate cessation of hostilities and stresses that dialogue is the only way to achieve the peace that the people of Sudan demand. The full statement is online.

    SUDAN/ FOOD ASSISTANCE
    And further on Sudan, our colleagues at the World Food Programme are saying that in Tawila, families who fled horrific violence in El Fasher have received vital food and nutrition supplies.
    WFP says that the Agency supported more people than originally planned as needs are overwhelming with hundreds of thousands displaced, and more aid is on its way in the coming week.

    SOUTH SUDAN
    Moving to South Sudan, where our mission, UNMISS, and partners—the African Union, the Intergovernmental Authority on Development or IGAD, and the Reconstituted Joint Monitoring and Evaluation Commission, have jointly called on South Sudan’s leaders to cease ongoing hostilities immediately and urgently progress inclusive peace implementation.
    They urged swift, thorough and impartial investigations into security escalations so that responsible parties can be held to account and public trust, restored.

    Full Highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=08%20May%202025

    https://www.youtube.com/watch?v=sMOZA1L9xXQ

    MIL OSI Video –

  • MIL-OSI USA: General Terms for the United States of America and the United Kingdom of Great Britain and Northern Ireland Economic Prosperity Deal

    US Senate News:

    Source: The White House
    Context and ObjectivesPresident Donald J. Trump and Prime Minister Sir Keir Starmer committed to deliver shared prosperity for American and British citizens alike. Our governments have a unique opportunity to enhance our economic partnership through the U.S.-UK Economic Prosperity Deal (EPD).
    A first of its kind, the United States and the United Kingdom expect the EPD to address three core objectives, based on fairness and reciprocity:
    To grow the quality and volume of mutually beneficial trade between the United States and the United Kingdom, creating good, high-paying jobs and growth in both countries;
    To remove barriers to make it easier for American and British businesses to operate, invest and trade in both countries; and
    To ensure that the Special Relationship is rooted in an enduring economic partnership that is fair, reciprocal, future-facing, and built on a shared vision of the challenges that face our economies.
    This document serves to define the general terms for the EPD that set forth the shared desires of the United States and the United Kingdom to make bilateral trade fairer, easier, and more substantial. Alongside this document covering our trading relationship, we are continuing discussions toward a transformative technology partnership between our countries.
    The United States and United Kingdom are immediately beginning negotiations of the EPD to develop and formalize the proposals made in this document. Once the initial proposals have been formalized and implemented, the United States and United Kingdom understand that the EPD can further be expanded over time to cover additional areas. Each country intends to continue to improve market access under the EPD.
    Both the United States and the United Kingdom recognize that this document does not constitute a legally binding agreement.
    Addressing Tariffs(a) Following a reasonable period of negotiation: (i) the United Kingdom intends to reduce its applied tariff rates on a preferential basis on a range of originating goods of the United States in sectors of importance to the United States; and (ii) the United States intends to reduce its applied tariff rates on a preferential basis on a range of originating goods of the United Kingdom in sectors of importance to the United Kingdom. The countries intend to coordinate the timing of their respective tariff reductions to be as soon as practicable, taking into consideration their respective domestic processes. On request of the United Kingdom, the United States will consider reducing its applied tariff rates for a UK territory or territories for whose international relations the United Kingdom is responsible on a preferential basis.(b) U.S. beef exports to the United Kingdom are currently subject to a 20 percent tariff within a quota of 1,000 metric tons (mt). The United Kingdom will remove the 20 percent tariff. Additionally, the United Kingdom will create a preferential duty-free quota of 13,000 mt for U.S. beef. In return, the United States will reallocate to the United Kingdom 13,000 mt of its existing “Other Countries” tariff rate quota (TRQ) for beef. Additionally, the United Kingdom will offer a preferential duty-free TRQ of 1.4 billion liters for U.S. ethanol.(c) The United States intends to provide certain key UK imports with modified reciprocal tariff treatment, based on our balanced trading relationship and shared national security priorities. Any such modifications will be consistent with those shared national security priorities, including priorities identified in future U.S. Section 232 investigations.(i) The United States will create a quota of 100,000 vehicles for UK automotive imports at a 10 percent tariff rate, and an accompanying arrangement for attendant auto parts for such autos.(ii) The United Kingdom will work to promptly meet U.S. requirements on the security of the supply chains of steel and aluminum products intended for export to the United States and on the nature of ownership of relevant production facilities. Understanding the United Kingdom will meet these requirements, the United States will promptly construct a quota at most favored nation (MFN) rates for UK steel and aluminum and certain derivative steel and aluminum products.(iii) Contingent on the findings of the U.S. Section 232 investigation on pharmaceuticals and pharmaceutical ingredients, and consistent with the United Kingdom’s compliance with the supply chains security requirements described in subparagraph (ii), the United States and the United Kingdom intend to promptly negotiate significantly preferential treatment outcomes on pharmaceuticals and pharmaceutical ingredients. The United Kingdom confirms that it will endeavor to improve the overall environment for pharmaceutical companies operating in the United Kingdom.(iv) In addition to products already addressed in this document, the United States and the United Kingdom intend to adopt a structured, negotiated approach to othersectors that may be subject to Section 232 investigations or other tariff measures with a view to a significantly preferential outcome. Any such approach is contingent on the United Kingdom ensuring the security of supply chains, using appropriate measures, of products intended for export to the United States and on the findings of related U.S. investigations of, or other tariff measures related to, such sectors.(d) To ensure U.S. and UK firms can benefit from these changes in practice, both countries intend to apply rules of origin that maximize bilateral trade and prevent non-participants from using our bilateral arrangement to circumvent tariffs. The United States affirms that it intends to take into consideration during the negotiations of the EPD the United Kingdom’s request that the United States continues to work to lower tariffs on UK goods imposed by U.S. executive authority as well as those subject to Congressional approval.
    Addressing Non-Tariff Barriers(a) The United Kingdom and the United States plan to work constructively in an effort to enhance agricultural market access. Further, both countries positively support future discussions to strengthen bilateral agricultural trade. The United Kingdom and the United States affirm that imported food and agricultural goods must comply with the importing country’s sanitary and phytosanitary (SPS) standards and other mutually agreed standards. The United Kingdom and the United States commit to working together to improve market access for agricultural products, to highlight concerns, and to increase agricultural cooperation on areas such as certain export verification programs to facilitate greater trade, and more formal bilateral engagement through international standard setting bodies.(b) The United Kingdom and the United States each confirms its intent to accord to conformity assessment bodies of the other treatment no less favorable than that it accords to conformity assessment bodies located in its own territory. Treatment under this paragraph includes procedures, criteria, fees, and other conditions relating to accrediting, approving, licensing, or otherwise recognizing conformity assessment bodies.(c) Both countries intend to build on an existing set of Mutual Recognition Agreements (MRAs) by negotiating additional agreements, as appropriate, across certain industrial goods and advance toward an agreement on services domestic regulation.(d) The United Kingdom and United States intend to discuss the principles and criteria used in order to recognize a standard as an international standard. The United Kingdom and the United States will further commit to discuss respective applicable standards for mutually agreed sectors of interest and, within those specified sectors, to agree which of the other’s relevant domiciled standards development organizations (SDOs) currently meet recognized international principles.
    Increasing Digital Trade(a) Both countries confirm that they will negotiate an ambitious set of digital trade provisions that will include within its scope services, including financial services.(b) Both countries confirm that they will negotiate provisions on paperless trade, pre-arrival processing, and digitalized procedures for the movement of goods between our countries.
    Strengthening Alignment and Collaboration on Economic Security(a) Both countries intend to strengthen cooperation on economic security, including by coordinating to address non-market policies of third countries.(b) Both countries intend to cooperate on the effective use of investment security measures, export controls, and ICT vendor security, building on the current levels of close alignment on trade and investment security measures.(c) In order to ensure more competitive, reciprocal, and secure access to our procurement markets, both countries reaffirm their procurement commitments under the Agreement on Government Procurement (GPA) and their respective free trade agreements, and intend to discuss the implementation of our respective procurement commitments, including through the United Kingdom’s new National Security Unit for Procurement and the United Kingdom’s new powers under the Procurement Act 2023, which provides that non-“treaty states” are not guaranteed non-discriminatory treatment in procurement.(d) Both countries confirm that they will negotiate as part of the EPD provisions on duty evasion customs cooperation to combat evasion schemes and the illegal transshipment of goods from countries subject to antidumping, countervailing duties, safeguards, etc., which undermine economic security.
    Commercial Considerations and OpportunitiesBoth countries commit to continuing to identify mutually beneficial goods, services, investment opportunities and commercial transactions that serve to increase economic integration in critical industries and defense preparedness, leveraging government policies, licenses, and programs and private-sector participation to facilitate such transactions.
    Other Matters(a) Both countries confirm that they intend to discuss high-standard commitments related to intellectual property rights protection and enforcement, labor practices (including addressing forced labor in supply chains), and environmental policies and practices.(b) The United Kingdom will consider the interests of those UK territories for whose international relations it is responsible.(c) The United Kingdom and the United States recognize that the purpose of this arrangement is to deepen our trade relationship based on mutual trust and a shared commitment to fair and reciprocal trade. On request of either country, the United Kingdom and the United States will consult with a view to considering any changes that may need to be made to this arrangement to ensure that it remains mutually beneficial.(d) The United States or the United Kingdom may terminate this arrangement by giving written notice to the other. The United Kingdom and the United States further plan to discuss procedures for review and termination as part of the negotiations of the EPD.
    This document becomes operative on May 8, 2025.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: University spinouts to grow industries of the future with new government backing

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    University spinouts to grow industries of the future with new government backing

    Public sector is being primed to bring innovative ideas out of government labs and onto the market with £30 million backing and new guidance.

    • 4 of the UK’s most exciting regional research clusters to grow their ideas into thriving companies and industries of tomorrow with £30 million government backing
    • £30 million awarded to world-leading universities working with industry partners across Merseyside, East Anglia, Northeast England and the Midlands to grasp the opportunity to incubate and scale-up the businesses and jobs of the future
    • Alongside, first-of-its-kind guidance priming public sector to bring innovative ideas out of government labs and into markets, pulling in the investment that’s vital for growth and job creation to deliver on our Plan for Change

    4 innovative UK hubs across Merseyside, East Anglia, the Midlands, and Northeast England will today (Friday 9 May) get fresh backing to grow more ‘spinouts’,  innovative new businesses created from within research institutions. 

    In turn creating new jobs, developing the industries of tomorrow and driving economic growth through the Plan for Change.

    UK innovators have made great strides in getting bright ideas onto the market and in front of investors, but red tape, talent shortages and a lack of access to funding is holding back innovators from turning their ideas into viable growing businesses.  

    New £30 million funding will support a taskforce of world-leading universities and industry experts across the 4 locations to take advantage of this huge, and all-too-often untapped, opportunity.  

    It will support efforts to incubate and spin out new companies and create the most fertile and attractive environment for the brightest thinkers and entrepreneurs.

    The government is also priming the public sector with first ever guidance to put groundbreaking ideas on the path to investment, becoming the next generation of businesses, creating a pipeline of innovative businesses emerging from the UK’s excellent public sector research landscape.  

    With step-by-step advice, a new generation of British R&D entrepreneurs in the public sector will be empowered with the tools and support they need to turn ambitious research into marketable products – and in turn unlock benefits from clean energy, to healthcare, and beyond. 

    Announcing the news on a visit to Aston University, Science Minister, Lord Vallance said: 

    The UK is home to some of the world’s best universities, and we have deep strengths from life sciences to cutting-edge fields like quantum and engineering biology. But we can and must do more to unlock scientific research’s vast economic potential, and to help our innovators world-leading public sector labs turn brilliant ideas into businesses that attract investment and sustain jobs.

    The funding and guidance we are announcing today will reinforce those efforts – supporting our mission to grow the economy as part of the Plan for Change.

    The 4 projects receiving funding from Research England 

    Strategic Commercialisation Ecosystem North East (SCENE)

    Based in the North East is receiving over £8 million over 5 years to strengthen and expand the region’s ecosystem, engaging businesses, sector bodies, Catapults and investors more actively in commercialising university research. 

    Forging ahead/Forging beyond

    Based in the Midlands is receiving almost £10 million over 5 years to address the talent, expertise and skills gaps in the Midlands by creating a Talent Pool, inward investment champions and innovation networks. The project will particularly target Heath, Advanced Manufacturing, Net Zero, and Creative & Digital sectors.  

    Biologics Regional Innovation and Technology Ecosystem (BRITE)

    Based in Merseyside will get over £4 million over 3 years to establish a sustainable life sciences ecosystem, in the Liverpool City Region (LCR), focused on developing treatments like vaccines, by addressing gaps in the development of products and materials from living cells or their components, scale-up, and commercialisation.

    It will strengthen collaboration between academia, industry, and civic partners to create a connected innovation ecosystem and accelerate the translation of biologics for antimicrobial resistance, infectious diseases, and emerging health challenges.

    Agri-Tech Commercialisation Ecosystems (ACE)

    Based in Lincolnshire and East Anglia will receive almost £5 million over 3 years to establish a world-leading, self-sustaining Agri-Tech research commercialisation cluster in Greater Lincolnshire and East Anglia, with support from Barclays Eagle Labs, Greater Lincolnshire LEP, New Anglia LEP, and Cambridgeshire & Peterborough Combined Authority plus commercial partners.  

    Ana Avaliani, Director of the Royal Academy of Engineering’s Enterprise Hub, said:

    Industry Academia partnerships create the ideal setting for transforming groundbreaking research into spinouts, addressing real world challenges while fostering economic growth and creating pathways for talented researchers to become entrepreneurs. These spinouts drive innovation and represent a crucial and growing component in our economic future. Our Spotlight on Spinouts 2025: UK academic spinout trends report tracked UK university spinouts securing over £2.6 billion in funding, nearly 40% more than the previous year.

    This welcome investment and new guidance from government will enhance support for these fledgling businesses as they face complex issues such as skills gaps and funding challenges. They will help foster strategic alliances that aren’t just beneficial but essential for maintaining competitive advantage in today’s innovation landscape.

    Notes to editors

    The Government Office for Technology Transfer (GOTT) is publishing 2 guides. They provide step-by-step advice on how public sector organisations can create spinouts.

    The publications are: 

    The universities involved in the 4 projects

    Project: Strategic Commercialisation Ecosystem North East (SCENE)

    The universities involved are:

    • Durham University (Lead)   
    • Newcastle University   
    • Northumbria University   
    • University of Sunderland  
    • Teesside University   

    Project: Forging ahead/ Forging beyond 

    The universities involved are:

    • Loughborough University (Lead)   
    • Aston University  
    • University of Birmingham    
    • Birmingham City University   
    • Cranfield University  
    • Coventry University  
    • Derby University  
    • De Montfort University  
    • Keele University   
    • Leicester University  
    • University of Lincoln  
    • University of Nottingham 
    • Nottingham Trent University   
    • University of Warwick   
    • University of Wolverhampton   

    Project: Biologics Regional Innovation and Technology Ecosystems (BRITE)

    The universities involved are:

    • Liverpool School of Tropical Medicine (Lead)   
    • University of Liverpool  
    • Liverpool John Moores University  
    • Edge Hill University    

    Project: Agri-tech commercialisation ecosystems (ACE)

    The universities involved are:

    • University of Lincoln (Lead)   
    • University of Cambridge  
    • University of East Anglia  
    • Cambridge Enterprise

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

    Updates to this page

    Published 9 May 2025

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  • MIL-OSI United Kingdom: Red tape slashed to get more teachers into classrooms

    Source: United Kingdom – Government Statements

    Press release

    Red tape slashed to get more teachers into classrooms

    Government announces cut to the duration of apprenticeships, opening up more training opportunities to get thousands of more teachers into the classroom.

    More people will soon have the opportunity to train to teach, as the government cuts apprenticeship red tape as part of steps to get thousands more teachers into the classroom. 

    As the government steps up work to recruit an additional 6,500 teachers, postgraduate teaching apprenticeship (PGTA) courses will be slashed from twelve months to nine, aligning to the school year and getting newly trained teachers into the classroom sooner.  

    Courses currently run from September to September, meaning trainees typically have to wait months before kicking off their careers, and making it challenging for schools to support apprentices while training.  

    The change will be made from August this year and is expected to open up more opportunities to train to teach, as well as accelerating trainees’ journeys to the front of the classroom. 

    The PGTA has seen a 58 per cent growth over the past few years, showing how popular the offer is, giving participants the chance to earn while they learn and gain hands-on experience in the classroom. 

    More than 1,400 people trained to teach via this route this year, but demand for places currently far outstrips supply, with around 2,800 eligible applicants last year unable to secure a place on a coveted course.

    The change supports the government’s drive through its Plan for Change to recruit an additional 6,500 expert teachers, and follows early progress on teacher recruitment, with over two thousand more people training to become secondary school teachers this year, alongside a 25% boost in the proportion set to begin training in shortage STEM subjects. 

    Schools Minister, Catherine McKinnell said:  

    Recruiting and keeping high-quality teachers in our classrooms is the single biggest driver of high standards in schools, which is why our Plan for Change has a clear commitment to recruit an additional 6,500 expert teachers by the end of this Parliament. 

    Our schools are crying out for more expert teachers, and this government will continue to pull every lever it can to plug the gaps and build on the green shoots we are already seeing. 

    Bringing teaching apprenticeships in line with the school year is not only logical, it will open the doors for more and more people to become brilliant teachers, shaping the lives of the next generation.” 

    Apprenticeships are a brilliant way for schools to recruit and train the high-quality teachers they need, while supporting more people to gain the skills and experience they need to become expert teachers and build a successful career in teaching. 

    The government is offering schools up to £28,000 to cover the cost of training apprentices in mathematics, biology, chemistry, physics, computing, and modern foreign languages – the subjects which have the highest teacher shortages. This means apprentices pay nothing for their training and will earn a salary while they are training before moving on to full time teacher pay salary. 

    The apprenticeship changes build on wider steps the government is already taking to support teacher recruitment and retention, including last summer’s 5.5% pay award and a targeted retention incentive, worth up to £6,000 after tax for early career teachers working in shortage subjects.

    Action is also being taken to tackle the systemic challenges that the sector faces which drive high workload and poor wellbeing. This includes improvements to the accountability framework, prioritising SEND reform, reviewing the curriculum through the curriculum and assessment review, supporting schools to use technology effectively and addressing child poverty.

    PGTA apprentice teacher in biology at Outwood Academy Acklam, Dan Harrison, shared his experience so far: 

    The National Institute of Teaching’s postgraduate teaching apprenticeship has enabled me to take the leap from my role as a learning manager to being a teacher. It’s been a great way to quickly get to grips with the day-to-day practicalities of the role, while also understanding the underpinning theory of what makes great teaching and applying this to my immediate context.

    I’ve really enjoyed being fully embedded in the teaching community at my school and would recommend this as an ideal route for those who are interested in the profession but looking for a way to learn on the job.

    National Institute of Teaching Executive Director of Programmes, Reuben Moore said:

    The potential of teacher apprenticeships is significant, strengthening routes into the profession and helping to reach a range of candidates from a diverse range of backgrounds in hard-to-recruit areas where teachers are needed most.  

    The hands-on learning offered alongside critical reflection through the apprenticeship route means that trainees can become fully qualified teachers in less time, without compromising on the quality of teaching or educational outcomes.

    We welcome the government’s efforts on removing barriers to this important training route, not only focusing on its impact but the opportunity to grow it further and help ensure that all children have access to an excellent education.

    Courses will still offer the same high-quality content but at a reduced length with trainees gaining Qualified Teacher Status after they have completed the programme, going on to build successful careers in teaching.  

    As part of the work to drive high and rising standards in schools the government’s landmark Children’s Wellbeing & Schools Bill is also introducing measures to ensure new teachers have or are working towards Qualified Teacher Status, so that children can benefit from high-quality teaching. Parents want to be confident that there is a professionally qualified teacher leading their children’s learning, and we expect the same.

    As well as the PGTA, there are a range of apprenticeships available to individuals who are considering entering the teaching profession including a new degree level teacher apprenticeship as well as teaching assistant apprenticeships.  

    DfE media enquiries

    Central newsdesk – for journalists 020 7783 8300

    Updates to this page

    Published 9 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Prime Minister to announce largest ever sanctions package targeting shadow fleet as UK ramps up pressure on Russia

    Source: United Kingdom – Government Statements

    Press release

    Prime Minister to announce largest ever sanctions package targeting shadow fleet as UK ramps up pressure on Russia

    Russia’s shadow fleet will be hit with the largest ever sanctions package today, ramping up pressure on Putin and protecting UK and European critical national infrastructure.

    • New action, which will be announced by the Prime Minister at the Joint Expeditionary Force meeting in Oslo today, will turn up the pressure on Russia’s economy, which is reeling thanks to lower oil prices and the high costs of the war 
    • Major package of sanctions will target the decrepit and dangerous shadow fleet carrying Russian oil 
    • Reckless actions of the fleet pose costly threat to UK and Euro-Atlantic critical national infrastructure and the environment 
    • New package will mean the UK has sanctioned more shadow fleet ships than any other country 

    Russia’s shadow fleet will be hit with the largest ever sanctions package today, ramping up pressure on Putin and protecting UK and European critical national infrastructure.

    The Government will today sanction up to 100 oil tankers that form a core part of Putin’s shadow fleet operation and are responsible for carrying more than $24 billion worth of cargo since the start of 2024.

    It is the latest move by the Government to safeguard working people, protect the UK’s national security and deliver on the foundations of the Plan for Change.

    The shadow fleet operation, masterminded by Putin’s cronies, is not just bankrolling the Kremlin’s illegal war in Ukraine – the fleet’s languishing vessels are known to be damaging critical national infrastructure through reckless seafaring in Europe. 

    Protecting subsea infrastructure from malicious and careless incidents is expected to be a key part of Leaders’ discussions at the Joint Expeditionary Force summit in Oslo today. 

    It comes after the JEF activated an advanced UK-led reaction system, known as Nordic Warden in January, to track potential threats to undersea infrastructure and monitor the Russian shadow fleet, following reported damage to a major undersea cable in the Baltic Sea. 22 areas of interest – including parts of the English Channel, North Sea, Kattegat, and Baltic, are currently being monitored from the JEF’s operational headquarters in Northwood, UK.  

    Subsea infrastructure is the lifeblood of the UK’s connectivity, carrying 99% of international telecommunications data, and vital energy supplies such as electricity, oil and gas. 

    The infrastructure is at risk of being disrupted by unseaworthy vessels lacking safety certification, the right technology to avoid the infrastructure, or purposefully disabling locator technology. 

    Alongside the large number of shadow fleet tankers targeted today, the UK is also expected to disrupt those behind the shadow fleet.  

    Today’s action further demonstrates that there is no place to hide for those who help fund Putin’s war machine.  

    Prime Minister Keir Starmer said:  

    Every step we take to increase pressure on Russia and achieve a just and sustainable peace in Ukraine is another step towards security and prosperity in the UK.  

    The threat from Russia to our national security cannot be underestimated, that is why we will do everything in our power to destroy his shadow fleet operation, starve his war machine of oil revenues and protect the subsea infrastructure that we rely on for our everyday lives.  

    My government will safeguard working people from paying the price from the costly threat Putin’s fleet poses to UK critical national infrastructure and the environment.

    Putin uses the shadow fleet to cling onto his oil revenues and prop up the Russian oil industry.  Thanks to Western sanctions, Russia’s oil and gas revenues have fallen every year since 2022 – losing over a third of its value in three years. Sanctions and the cost of his barbaric war are causing the Russian economy to stall – with the wealth fund hollowed out, inflation rising and government spend on defence and security spiralling.

    Meanwhile, JEF leaders are today expected to announce an enhanced JEF partnership with Ukraine, bringing the JEF grouping – some of Ukraine’s staunchest supporters – and Ukraine even closer together. 

    This will further support Ukrainian Armed Forces through intensive training exercises, increasing interoperability across military platforms and enhancing countering disinformation support as well as allowing JEF Nations to learn from the battlefield experience of Ukraine’s armed forces. 

    Today’s meeting in Oslo is the second visit by the Prime Minister to Norway, after he travelled to Bergen in December to launch a new Green Industrial Partnership with Norway, which was signed by Energy Secretary Ed Miliband earlier this week.

    The UK and Norway are also expected to agree a new memorandum of understanding on space domain awareness today, to harness opportunities and protect critical national infrastructure in the skies, through tracking and sharing intelligence on satellites, space debris and other objects flying above Earth. 

    The agreement will allow the UK and Norway to advance and develop greater coverage of the increasingly congested and contested domain. 

    The UK has ambitious plans in space, with the first space launches from SaxaVord in the Shetland Islands scheduled later this year. 

    The Joint Expeditionary Force is comprised of 10 like-minded nations, Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, Netherlands, Sweden and the UK as the Framework Nation.

    Updates to this page

    Published 9 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Legal aid consultation launches to deliver justice for victims

    Source: United Kingdom – Government Statements

    Press release

    Legal aid consultation launches to deliver justice for victims

    Thousands of victims across England and Wales stand to benefit as the Government launches a major consultation on criminal legal aid today (9 May).

    • Consultation proposes increasing funding by up to £92 million a year
    • Funding to address inherited crisis in criminal legal aid, delivering justice for victims
    • Part of the Government’s Plan for Change to keep our streets safe by creating a more sustainable criminal legal aid sector

    The eight-week consultation will aim to deliver more efficient justice for victims and stabilise the criminal legal aid system by investing millions more in criminal legal aid.

    The sector will benefit from up to £92 million a year in additional funding for criminal legal aid solicitors working in police stations, courts, and prisons. This funding aims to improve access to justice for victims and addresses the crisis inherited in the legal aid system.

    This major investment forms a core part of the Government’s Plan for Change – recognising the vital work of criminal legal aid lawyers, driving reform, and helping to keep our streets safe.

    Minister for Courts and Legal Services, Sarah Sackman KC, said:

    These proposals mark a crucial step in rebuilding a legal aid sector that has been neglected for too long.

    Access to justice is a cornerstone of our legal system, and this investment will ensure that the wheels of justice continue to move.

    As part of our Plan for Change, we’re putting legal aid on a sustainable footing now and for the future.

    These proposals lay the groundwork for long-term reform of the criminal legal aid system, making it easier for solicitors to take on legal aid cases while ensuring that everyone can access help, wherever they live.

    They build on our earlier £24 million investment in solicitors working in police stations and Youth Courts, strengthening frontline legal support where it’s most needed.

    This is part of our wider mission to support victims and deliver faster justice. Alongside this investment the Lord Chancellor is funding a record 110,000 court sitting days this financial year to tackle the outstanding backlog in the Crown Court.  An independent review of criminal courts, led by Sir Brian Leveson, is also exploring bold reforms that could cut delays and put victims first.

    We continue to work closely with legal professions, including the Criminal Bar Association and Bar Council, to improve the system as a whole.

    Updates to this page

    Published 9 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Chairwoman McClain’s Statement on Historic U.S.-U.K. Trade Deal

    Source: US House of Representatives Republicans

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

    Chairwoman McClain’s Statement on Historic U.S.-U.K. Trade Deal

    Washington, May 8, 2025

    WASHINGTON—House Republican Conference Chairwoman Lisa McClain (R-Mich.) released the following statement after the United States (U.S.) and the United Kingdom (U.K.) announced a historic trade deal that will benefit American workers, farmers, producers, and manufacturers. 

    “Breaking down trade barriers and expanding market access ensures that Michigan’s agricultural products can globally compete and thrive. This is a major win for American businesses and reaffirms our partnership with our longest-standing ally. I applaud President Trump for continuing to deliver new opportunities for growth and prosperity for Michiganders and all Americans. This deal shows countries WILL come to the negotiating table,” Chairwoman McClain said.

    The trade deal will significantly expand U.S. market access in the U.K., creating a $5 billion opportunity for new exports for U.S. farmers, ranchers, and producers. This includes more than $700 million in ethanol exports and $250 million in other agricultural products, like beef.

    MIL OSI USA News –

  • MIL-OSI Security: Security News: Tennessee Man Indicted on Arson and Explosive Charges for Setting Fire to Nonprofit Organization

    Source: United States Department of Justice 2

    A federal grand jury in Knoxville, Tennessee returned an indictment on May 7, charging Regan Darby Prater, 27, with arson for firebombing the Highlander Center, a nonprofit research and education center in New Market, Tennessee; and with carrying an explosive device during the commission of the arson. Prater appeared in court today before U.S. Magistrate Judge Jill E. McCook and entered a plea of not guilty to the charges in the indictment. He was held pending trial, which has been set for July 15 in United States District Court, in Knoxville, Tennessee.

    According to court documents, on March 29, 2019, Prater used an explosive to firebomb the Highlander Center’s administrative building, resulting in a fire that consumed the entire structure. Court documents also allege that Prater was inspired by the March 15, 2019, mass shootings in Christchurch, New Zealand, and left a symbol of the Iron Guard, a World War II-era Romanian Nazi organization, spraypainted in the Highlander Center’s parking lot. The same symbol appeared on the Christchurch gunman’s rifle as he livestreamed his attacks.

    If convicted, Prater faces a minimum penalty of five years in prison and a maximum penalty of twenty years in prison on the arson charge, and an additional ten years in prison on the explosive charge.

    Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division; U.S. Attorney Francis M. Hamilton III for the Eastern District of Tennessee; and Special Agent in Charge Joseph E. Carrico of the FBI Nashville Field Office made the announcement.

    The FBI Knoxville Resident Agency investigated the case, with assistance from the Tennessee Bureau of Investigation.

    Assistant U.S. Attorneys Casey T. Arrowood and Anne-Marie Svolto of the Eastern District of Tennessee and Trial Attorneys Kyle Boynton and Katherine McCallister of the Civil Rights Division’s Criminal Section are prosecuting the case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI USA: GREAT DEAL FOR AMERICA: President Trump’s “Breakthrough” Trade Deal

    US Senate News:

    Source: The White House
    In February, President Donald J. Trump promised “a great trade agreement” with the United Kingdom — and today he delivered with a “breakthrough” trade deal that expands market access, curbs non-tariff barriers, and levels the playing field for American exporters.
    Promises made, promises kept — and he’s just getting started.
    It’s the first such deal under President Trump’s transformational plan to liberate Americans from globalist trade policies that make foreign countries rich while Americans get robbed. It’s all part of President Trump’s vision of economic prosperity: fair trade, historic tax cuts, deregulation, and a manufacturing revival that will cement America’s new Golden Age for decades to come.
    Here’s what they’re saying:
    National Cattlemen’s Beef Association President Buck Wehrbein: “With this trade deal, President Trump has delivered a tremendous win for American family farmers and ranchers. For years, American cattle producers have seen the United Kingdom as an ideal partner for trade. Between our countries’ shared history, culture, and their desire for high-quality American beef, securing a trade agreement is a natural step forward. Thank you President Trump for fighting for American cattle producers.”
    Renewable Fuels Association President and CEO Geoff Cooper: “We sincerely thank President Trump and his trade negotiators for ensuring that American-made ethanol is an important part of the trade agreement announced today with the United Kingdom. While we are still awaiting the specific details of the agreement, we are excited about the prospects of expanded market access that will help boost our farm economy, while also delivering lower-cost, cleaner fuel to UK drivers.”
    International Dairy Foods Association President and CEO Michael Dykes, D.V.M.: “On behalf of America’s dairy processors and producers, IDFA applauds President Trump’s announcement today that the United States and the United Kingdom have reached the terms for a significant trade deal between our two markets that promises to expand access for U.S. agricultural goods, reduce tariffs, and remove barriers to trade … For too long, the UK has limited America’s food and agricultural exports to the world’s sixth largest economy and now President Trump’s deal promises to level the playing field. IDFA looks forward to studying the details of this agreement as they emerge, especially specifics on relief and new market access opportunities for U.S. dairy products. The United States offers the world’s most wholesome, high-quality and affordable dairy products and IDFA is excited to work with our member companies to bring these delicious products to more consumers in the United Kingdom.”
    Growth Energy CEO Emily Skor: “In terms of trade with the UK, the American ethanol industry had its best year ever last year of exports valued at over $535 million. This trade agreement puts us on track to set another record, all to the benefit of American farmers, biofuel producers, and UK consumers. We look forward to learning more, and finding new ways to help the UK achieve its economic and environmental goals through the increased use of American biofuels. We commend the President and his team for making this deal and creating new opportunities for American ethanol and rural America.”
    Job Creators Network CEO Alfredo Ortiz: “Trump’s trade deal with the United Kingdom is a big victory for small businesses, American consumers, and the Trump administration itself. By reducing tariffs and trade barriers, American small businesses will be able to expand their markets and more easily sell to the relatively wealthy UK, whose population is 70 million. American consumers — including small businesses — will also get cheaper access to British goods. President Trump’s tough tariff stance is starting to pay dividends in the form of fairer and freer trade deals that put America first. The many more deals to come will greatly improve the small business economy, financial markets, and American prosperity.”
    Consumer Brands Association President and CEO Melissa Hockstad: “Consumer Brands commends the Trump administration’s successful completion of a comprehensive trade deal with the United Kingdom. As President Trump and his team pursues the America First Trade Policy agenda, the consumer packaged goods industry — America’s largest domestic manufacturing sector by employment — supports the creation of new opportunities for U.S. businesses and efforts to address unfair trade barriers around the world. As the administration continues to pursue deals with other countries, we encourage U.S. trade representatives to examine the needs of different manufacturing sectors and prioritize maintaining access to unavailable natural resources. Ensuring continued trade flows of those key ingredients, which are not available from U.S. sources, is critical to achieving the president’s economic vision, fighting grocery inflation and protecting the 22.3 million American jobs supported by food, beverage, household and personal care manufacturers.”
    HSBC USA President & CEO Lisa McGeough: “Today’s landmark US – UK trade agreement marks a significant step in strengthening transatlantic economic ties and expanding opportunities for businesses and investors. As a British-headquartered bank with a strong US footprint, we’re uniquely positioned to help American companies and investors seize new growth opportunities domestically, in the UK, and beyond. In the US, we stand ready to leverage our position as the world’s leading trade bank to facilitate cross-border commerce, support job creation, and drive investment. We commend the administration on the first of what we hope will be many forward-looking trade agreements.”
    American Farm Bureau Federation President Zippy Duvall: “Farm Bureau appreciates the work between the administration and the United Kingdom to secure a new trade agreement. We have long advocated for new trade deals, and this is an important first step in expanding markets in the four countries … We’re encouraged by progress to create market opportunities for farmers.”
    Nebraska Gov. Jim Pillen: “Trade matters to Nebraska because our farmers and ranchers produce the absolute best – and feed the world. America’s relationship with the U.K. is longstanding, and there is great potential for expanded trade between our countries. President Trump and his administration know that we need more trade with fewer barriers, and they are working around the clock to finalize trade deals with partners across the globe. That’s good news for Nebraska.”
    Iowa Secretary of Agriculture Mike Naig: “A new trade deal with a key ally like the United Kingdom is great news and so I am very encouraged by President Trump’s announcement today. I am particularly pleased to hear the President tout expanded market access for ethanol, beef, and, as he put it, ‘virtually all the products produced by our great farmers’ … Today’s trade announcement demonstrates that there is real progress being made toward opening additional markets for Iowa products across the globe. I hope this deal is the first of many that will be announced with other trading partners in the coming weeks and months.”
    Senate Majority Whip John Barrasso: “It’s good to have the dealmaker-in-chief back in the White House. President Trump’s historic trade deal with the U.K. will mean more jobs and increased investment right here in America. More promises kept.”
    Sen. Jim Banks: “Art of the Deal!”
    Sen. John Boozman: “I just spoke on the phone with USTR Ambassador Greer to discuss the good news. He’s doing a great job, and I look forward to working with him and @SecRollins to ensure agriculture market access remains a priority as the details continue to be worked out.”
    Sen. John Cornyn: “@POTUS Donald Trump will unveil his first post-Liberation Day trade deal this morning — a “major” agreement with the United Kingdom on rolling back tariffs.”
    Sen. Joni Ernst: “President Trump continues to deliver and is opening new markets for Iowa farmers!”
    Sen. Bill Hagerty: “No surprise that our Dealmaker-in-Chief President Donald Trump is rapidly delivering on his promise to ensure our trading partners are operating in good faith and that America is being treated fairly. The deal the President struck with the UK is proof that countries are responding to tariffs and want to enter into trade agreements with the United States that benefit both parties. I look forward to many more announcements in the near future.”
    Sen. Roger Marshall: “Promises made. Promises kept. We are opening up new markets for our world class Kansas beef! Big win.”
    Sen. Jerry Moran: “The UK offers a strategic market for American aviation & agricultural products. I introduced legislation earlier this year to lay the groundwork for a strong bilateral trade relationship, & President Trump’s announcement of a new trade agreement with the UK is a positive step forward.”
    Sen. Bernie Moreno: “An absolutely historic pro America deal by the most pro America President of my lifetime. We will no longer be ripped off and will no longer tolerate trade imbalances that have destroyed the opportunities for working Americans.”
    Sen. Eric Schmitt: “After years of getting ripped off, America is finally playing to win. More exports, more products made here, and record-breaking investment thanks to President Trump’s trade deals.”
    Sen. Rick Scott: “Great news! Thank you, President Trump, for working with our allies while putting America first and protecting American jobs!”
    Sen. Tim Sheehy: “The Art of the Deal. President Trump just delivered a huge win for hardworking Americans. Let’s keep them coming!”
    Sen. Thom Tillis: “A big win secured by @POTUS with the United Kingdom, our greatest ally and one of our largest trade partners. This is a significant step toward establishing fair and mutually beneficial trade relationships with our global partners.”
    Sen. Tommy Tuberville: “Today’s trade deal with the UK is the first of many to come. Like I always say: Never bet against @realDonaldTrump. THE ART OF THE DEAL”
    House Majority Whip Tom Emmer: “The master negotiator succeeds again. @POTUS promised to bring our trading partners to the table and secure deals that put AMERICA FIRST—and that’s exactly what he did. More to come!”
    House Republican Conference Chair Lisa McClain: “Promises Made, Promises KEPT! @POTUS brought countries to the negotiation table and has already DELIVERED a historic trade deal.”
    House Republican Leadership Chair Elise Stefanik: “President @realDonaldTrump delivers AGAIN. Thanks to his bold leadership and tough tariffs, the UK is the first to come to the table—with a new trade deal that puts American workers and businesses FIRST. This is what economic strength and real leadership looks like. Fair trade. Better deals. America wins.”
    Rep. Mark Alford: “Fact check: President Trump’s tariff strategy works. Boosting American manufacturing and fighting for our farmers. ANOTHER WIN FOR AMERICA.”
    Rep. Rick Allen: “Another VICTORY! @POTUS is bringing our trading partners to the table and securing billions in new market access for American workers, businesses, and producers. Today’s trade deal with the U.K. will be the first of many. Economic strength is national strength!”
    Rep. Don Bacon: “I congratulate @POTUS on striking a trade deal with the U.K. While we wait for the finer details of the agreement, including more than $700 million in ethanol exports and $250 million in other AG products like beef, every Nebraskan will surely feel it.”
    Rep. Aaron Bean: “President Trump announced the first historic trade deal with the UK—something the legacy media said was ‘impossible.’ Today’s deal will make our economy stronger, put American workers first, and unleash the full potential of American industry.”
    Rep. Vern Buchanan: “President Trump has once again delivered for the American people with a historic trade agreement that puts our workers and businesses first. This new deal with the United Kingdom dramatically expands access for American exports—especially agriculture—and levels the playing field for our manufacturers.”
    Rep. Tim Burchett: “.@realDonaldTrump is fulfilling his promise to protect American workers and businesses. The UK trade deal slashes tariffs against the U.S. and is Making America Prosperous Again.”
    Rep. Buddy Carter: “This new trade deal with the United Kingdom is just the start to the Golden Age of America. President Trump is keeping his promise, bringing fair trade to America by using the art of the deal!”
    Rep. Andrew Clyde: “ART OF THE DEAL in action!”
    Rep. Mike Collins: “President Trump’s tariff strategy works. Today’s trade deal with the U.K. will make our economy stronger and put American workers first. The only people upset are the Democrats and liberal media who wanted him to fail.”
    Rep. Warren Davidson: “A glaring example of why we need to trust President Trump’s tariff strategy—it’s working. Stay the course.”
    Rep. Pat Fallon: “Another day, another deal!”
    Rep. Michelle Fischbach: “More promises made and kept by @POTUS. He said he would hold our trade partners accountable and put America first, and he’s delivering. This is just the beginning!”
    Rep. Julie Fedorchak: “@POTUS is delivering exactly what our producers need. North Dakota grows and raises some of the best products in the world, and now we have greater access to one of the world’s largest markets. This is just the first of many trade victories to come under President Trump!”
    Rep. Chuck Fleischmann: “@POTUS is ending decades of unfair trade deals that have ripped off the American People and is moving at lightning speed to negotiate and deliver America First trade deals. The US-UK trade deal announced today is historic and is only just the beginning!”
    Rep. Mike Flood: “Over the last four years, President Biden did nothing on trade. Within a matter of months, President Trump’s dealmaking experience resulted in a trade deal with the United Kingdom, one of our country’s oldest allies.”
    Rep. Virginia Foxx: “The Art of The Deal.”
    Rep. Lance Gooden: “In four years, Joe Biden signed ZERO major trade deals. In just over 100 days, President Trump negotiated and signed a major trade deal with the United Kingdom. America is leading once again.”
    Rep. Mark Green: “Once again, the Negotiator-in-Chief is closing deals to safeguard American manufacturers and grow our trade bigger and better than ever. On Victory in Europe Day, there isn’t a better anniversary to solidify our partnership with the United Kingdom.”
    Rep. Marjorie Taylor Greene: “Another incredible trade deal just secured by President Trump! The Golden Age of America is here!!”
    Rep. Diana Harshbarger: “This is a HUGE WIN! Because of @POTUS’s leadership, America is securing historic economic deals—and this is just the beginning!”
    Rep. Ashley Hinson: “Huge win—and many more to come! @POTUS is fighting to right the wrongs of the past, return to fair trade, and build a more abundant America. Thank you for prioritizing new market opportunities for Iowa’s farmers and biofuels producers.”
    Rep. Richard Hudson: “This is what decisive leadership looks like. Thank you, @POTUS!”
    Rep. Wesley Hunt: “Economic Security IS National Security — and PRESIDENT TRUMP is doing it again! This HISTORIC DEAL delivers:A stronger industrial baseTougher export controlsProtection of U.S. techBoosted steel productionThis is the Art of the Deal — the world is taking notes!”
    Rep. Jim Jordan: “President Trump’s trade deal with the UK is the first of many to come. There’s no better negotiator. There’s no one better to fix Joe Biden’s broken economy.”
    Rep. Young Kim: “I’m glad to see the Trump administration work with our ally Britain to promote fair trade and expand market opportunity for U.S. agricultural producers.”
    Rep. David Kustoff: “Today, @POTUS unveiled a historic U.S.-UK trade deal. $5B in new market access, $6B in tariff revenue, and a stronger alliance! @realdonaldtrump keeps delivering on his promises! This is America First!”
    Rep. Barry Loudermilk: “America has spent far too long on the losing end of global trade. President Trump pledged to put America’s interests first, and he is doing so beginning with this trade deal with one of our oldest allies. #promiseskept.”
    Rep. Tom McClintock: “The freer the trade, the greater the benefits for all countries involved. The UK agreement takes us in the right direction. Let’s keep going toward a new golden age of global free trade and the peace and prosperity it produces.”
    Rep. Dan Meuser: “This is a strong step forward. Fairer trade, lower energy costs, and pro-growth tax policies will keep driving investment here at home. I also laid out how we can responsibly reduce spending while extending key provisions of President Trump’s Tax Cuts and Jobs Act, which delivered significant benefits for families and small businesses.”
    Rep. Mary Miller: “THE ART OF THE DEAL!”
    Rep. Riley Moore: “Absolute genius to announce this deal on V-E Day!”
    Rep. Troy Nehls: President Trump is the Dealmaker in Chief. He has reached a historic trade deal with the United Kingdom. President Trump and his entire administration are working hard to protect American industries, protect American workers, and grow our economy. AMERICA FIRST!”
    Rep. Ralph Norman: “MASSIVE win for our farmers who will have the opportunity for a wider range in markets!! Art of the deal.”
    Rep. Andy Ogles: “President Trump delivers again!! This deal will bring billions home and make America stronger, richer, and more respected. A huge win for the American people.”
    Rep. Gary Palmer: A win for our nation secured by President Trump! This is what it looks like to have leadership in the White House.”
    Rep. August Pfluger: “President Trump just secured a huge trade deal—one I believe will be the first of many. This massive win for all Americans brings us one step closer to restoring fair trade policies.”
    Rep. Adrian Smith: “I’m pleased the Trump administration has struck an initial trade deal with one of our nation’s greatest trade partners and longest-standing allies. This is a significant step toward eliminating barriers to American products in foreign markets and friendshoring supply chains. I commend President Trump and his administration for conducting negotiations swiftly to the mutual benefit of our producers, job creators, and consumers. This agreement builds upon the groundwork laid in the President’s first term, and I am pleased the administration has indicated it continues to pursue dynamic dialogue with the United Kingdom to address additional concerns.”
    Rep. Marlin Stutzman: “As @POTUS says, the first of many, this is a great day for America! A combination of Trump’s trade deals and the passage of the One Big Beautiful Bill will make our country strong for generations to come.”
    Rep. Claudia Tenney: “.@POTUS is continuing to put America FIRST, working to strengthen our economy & national security by achieving historic trade deals. This is a huge win for American manufacturers & farmers, & there is only more winning to come!”
    Rep. Beth Van Duyne: “The first of many historic trade deals!! Better market access for US products!”
    Rep. Daniel Webster: Once again, @POTUS delivers for the American people by securing a historic trade deal with our key ally, the United Kingdom. This agreement lowers trade barriers, opening $5 billion of increased market access for American exports, especially for American farmers. Thank you President Trump for putting America’s farmers, businesses, and workers first!”
    Rep. Tony Wied: “The Art of the Deal.”
    Rep. Rudy Yakym: “President Trump is bringing countries to the table and securing fair trade deals. The first of many!”
    Rep. Ryan Zinke: “Great news for Montana! The UK is our 6th largest trade partner and this will help that grow!”
    House Committee on Agriculture: “This announcement is a big win for American agriculture! @POTUS is unlocking billions in new market access for U.S. exports like beef, ethanol, and more—boosting our GREAT farmers and rural economies!”
    Republican Study Committee: “Another day, another historic deal secured by President Trump! This is a MASSIVE victory for American workers. PROMISES MADE, PROMISES KEPT!”

    MIL OSI USA News –

  • MIL-OSI Security: Tennessee Man Indicted on Arson and Explosive Charges for Setting Fire to Nonprofit Organization

    Source: United States Attorneys General 1

    A federal grand jury in Knoxville, Tennessee returned an indictment on May 7, charging Regan Darby Prater, 27, with arson for firebombing the Highlander Center, a nonprofit research and education center in New Market, Tennessee; and with carrying an explosive device during the commission of the arson. Prater appeared in court today before U.S. Magistrate Judge Jill E. McCook and entered a plea of not guilty to the charges in the indictment. He was held pending trial, which has been set for July 15 in United States District Court, in Knoxville, Tennessee.

    According to court documents, on March 29, 2019, Prater used an explosive to firebomb the Highlander Center’s administrative building, resulting in a fire that consumed the entire structure. Court documents also allege that Prater was inspired by the March 15, 2019, mass shootings in Christchurch, New Zealand, and left a symbol of the Iron Guard, a World War II-era Romanian Nazi organization, spraypainted in the Highlander Center’s parking lot. The same symbol appeared on the Christchurch gunman’s rifle as he livestreamed his attacks.

    If convicted, Prater faces a minimum penalty of five years in prison and a maximum penalty of twenty years in prison on the arson charge, and an additional ten years in prison on the explosive charge.

    Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division; U.S. Attorney Francis M. Hamilton III for the Eastern District of Tennessee; and Special Agent in Charge Joseph E. Carrico of the FBI Nashville Field Office made the announcement.

    The FBI Knoxville Resident Agency investigated the case, with assistance from the Tennessee Bureau of Investigation.

    Assistant U.S. Attorneys Casey T. Arrowood and Anne-Marie Svolto of the Eastern District of Tennessee and Trial Attorneys Kyle Boynton and Katherine McCallister of the Civil Rights Division’s Criminal Section are prosecuting the case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI United Kingdom: The UK brought its innovation to EXPOMIN 2025

    Source: United Kingdom – Executive Government & Departments

    World news story

    The UK brought its innovation to EXPOMIN 2025

    During the week of the mining fair held in Santiago, nine British companies attended in the UK GREAT Zone, receiving hundreds of visitors.

    Ambassador Louise de Sousa, Executive Chairman of Anglo American Chile, Patricio Hidalgo, and Minister of Mining, Aurora Williams at the UK GREAT Zone ribbon cutting ceremony.

    A new edition of EXPOMIN took place in Chile between 22 and 25 April, and the United Kingdom took full advantage of the occasion, with our stand at Espacio Riesco, represented by the British Chilean Chamber of Commerce, (BritCham Chile), and the British Embassy.

    The UK GREAT Zone (UK stand) was inaugurated by the Minister of Mining of Chile, Ms Aurora Williams, the Under-Secretary of Mining, Suina Chahuán, the UK Ambassador to Chile, Louise de Sousa, the Executive Director of the British-Chilean Chamber of Commerce, Elle Denton, and the Executive Chairman of Anglo-American Chile and EXPOMIN, Patricio Hidalgo, who carried out the ceremonial ribbon cutting, to celebrate the opening of the stand.

    British companies

    Nine companies attended in the UK GREAT Zone. Aggreko, Bombas de Pozo, Brigade Electronics, Bupa Seguros, Hesco, Marsh MacLennan, StepChange Global, UMS and Watson Marlow were the organisations exhibiting at the British stand. During the four days at the event, the companies received hundreds of visitors, who were interested in learning more about the services offered by these companies in the mining field. The UK GREAT Zone also held various activities, which included informative talks on the challenges and opportunities of mining, as well as tasting sessions of typical British products.      

    The executive director of BritCham Chile, Elle Denton, highlighted the positive atmosphere surrounding the event, and underlined the relevance of mining innovation and sustainability for the United Kingdom.

    Regarding the British presence at EXPOMIN 2025, Elle Denton said:

    I feel very proud and honoured to have been part of this new successful version of EXPOMIN 2025, where, together with our partner companies, we shared the latest advances in innovation and mining technology, a highly relevant area that consolidates the strong ties that exist between the United Kingdom and Chile.

    Nine British companies were present in the UK GREAT Zone: Aggreko, Bombas de Pozo, Brigade Electronics, Bupa Seguros, Hesco, Marsh MacLennan, StepChange Global, UMS and Watson Marlow.

    During the week of the most important mining fair in Latin America, three talks were held in the UK GREAT Zone. The first of them, led by Anglo American Chile, addressed the main challenges of sustainable mining in current times; the second, organised by Codelco, the state-owed mining conglomerate, dealt with the main points of supply in the mining ecosystem, and the third, by SICEP   (Supplier Company Rating System) a comprehensive supplier qualification platform developed by the Asociación de Industriales de Antofagasta (AIA) which serves as a crucial tool for the mining and industrial sectors in Chile, particularly in the Antofagasta region, to evaluate, monitor, and select suppliers based on rigorous standards.

    Activities in the UK GREAT Zone also included tastings of Twinings tea and Johnnie Walker whisky. These two activities were very well received by those present, who had the opportunity to indulge in the traditional flavours of UK products.

    In addition, the second day of the fair was enlivened by a performance of Scottish bagpipers, who filled the corridors of Espacio Riesco with the sounds of traditional Scottish music.

    The British Ambassador, Louise de Sousa, was also present at the activities carried out throughout the four days, where she used the opportunity to strengthen the relationship with the different exhibitors. She also hosted a networking event at her Residence celebrating mining development and trade relations between the two countries.

    Regarding future collaboration, Ambassador De Sousa said: 

    We are proud to have participated in EXPOMIN 2025, the most important mining fair in Latin America, where we reassert the United Kingdom’s commitment to work together with Chile and the region to maintain sustainable, responsible and forward-thinking mining.

    About the GREAT Campaign

    The GREAT Britain & Northern Ireland Campaign is the UK’s international communications programme. It enhances the UK’s global reputation and drives economic growth by encouraging international audiences to visit, study, trade, invest, live and work in the UK.

    Further information

    If you want to know more about the British participation at EXPOMIN 2025, please contact the Communications Office.

    For more information about the activities of the British Embassy in Santiago, follow us on:

    Updates to this page

    Published 8 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI: VAALCO Energy, Inc. Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 08, 2025 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) today reported operational and financial results for the first quarter of 2025.

    First Quarter 2025 Highlights and Recent Key Items:

    • Reported net income of $7.7 million ($0.07 per diluted share), Adjusted Net Income of $6.3 million ($0.06 per diluted share) and Adjusted EBITDAX(1)of $57.0 million;
    • Produced 17,764 net revenue interest (“NRI”)(2)barrels of oil equivalent per day (“BOEPD”), above the high end of guidance, or 22,402 working interest (“WI”)(3)BOEPD, toward the high end of guidance;
    • Sold 19,074 NRI BOEPD, toward the high end of guidance;
    • Entered into new reserves based revolving credit facility with an initial commitment of $190 million with the ability to grow to $300 million, secured against certain Vaalco assets;
    • Reduced full year capital expenditure guidance by about 10%, without impacting full year production or sales guidance;
    • Acquired 70% WI(3)in and will operate the CI-705 block in offshore Côte D’Ivoire;
    • Declared quarterly cash dividend of $0.0625 per share of common stock to be paid on June 27, 2025; and
    • Announced that it will host a Capital Markets Day presentation on Wednesday, May 14, 2025.
    (1) Adjusted EBITDAX, Adjusted Net Income, Adjusted Working Capital and Free Cash Flow are Non-GAAP financial measures and are described and reconciled to the closest GAAP measure in the attached table under “Non-GAAP Financial Measures.”
    (2) All NRI sales and production rates are Vaalco’s working interest volumes less royalty volumes, where applicable.
    (3) All WI production rates and volumes are Vaalco’s working interest volumes, where applicable.

    George Maxwell, Vaalco’s Chief Executive Officer commented, “We delivered another successful quarter, once again meeting or exceeding our guidance. Sales for the first quarter were toward the high end of guidance and our NRI production was above the high end of guidance, leading to solid net income of $0.07 per diluted share and Adjusted EBITDAX of $57.0 million. We continue to execute our strategic vision, with multiple accomplishments achieved in the first quarter that lay the foundation for profitable growth in 2025 and beyond. We entered into a new credit facility that will supplement our internally generated cash flow and cash balance to assist in funding our robust organic growth projects. In Côte D’Ivoire, we commenced the FPSO refurbishment project and are preparing for a drilling campaign in 2026 to augment the production and economic life of the Baobab field. In Gabon, we are preparing for the 2025/2026 drilling program which is scheduled to begin in Q3 2025. While we are continuing with these two major projects, we have decided to reduce our capital expenditure budget for 2025 by about 10%. We are delaying discretionary capital spending and are deferring our capital program in Canada. We are doing all of this without impacting production or sales forecasts for 2025 due to the strong performance of our assets in Gabon and Egypt.”

    “We believe that we are well positioned to fund the meaningful growth and opportunities that we have planned over the next few years which should lead to even greater growth and value for the remainder of the decade. We look forward to providing additional details at our Capital Markets Day next week describing our diversified asset portfolio and the upside that we believe is available to drive future organic growth.”

    Operational Update

    Egypt

    The start of the 2024 drilling campaign was deferred until late 2024. In Q4 2024, we completed one well. In Q1 2025, we completed an additional five wells. Four of the five wells that were completed in Q1 2025 were brought online and had an average initial production rate for the first 30 days of approximately 135 barrels of oil per day (“BOPD”). The fifth well was brought online in early Q2 2025. In addition to all new wells successfully increasing production levels, new reserves and a new production zone were discovered in the Bakr formation. The Company is reviewing several options to improve flow as the reservoir contains heavier oil.

    The Company continues to perform detailed technical reviews of its newly drilled and existing wells while also continuing to work on enhancing production through a series of planned workovers and recompletions.

    Canada

    In the first half of 2024, Vaalco drilled and completed four 2.75 mile lateral wells in Canada. These wells continue to meet production expectations and the Company is monitoring their longer-term performance for future drilling opportunities. In 2025, Vaalco has decided to defer the drilling of additional wells in Canada to reduce the Company’s overall capital expenditures.

    Gabon

    The Company secured a drilling rig in December 2024 in conjunction with its 2025/2026 drilling program, which is planned to begin in Q3 2025 to drill multiple development wells, and appraisal or exploration wells, as well as to perform workovers, with options to drill additional wells. Vaalco plans to drill the wells at both the Etame platform and at the Seent platform, and perform a re-drill and several workovers in the Ebouri field to access production and reserves that were previously shut in and removed from proved reserves due to the presence of hydrogen sulfide (“H2S”).

    In Q1 2025, Vaalco conducted an extended flow test on the Ebouri 4-H well to gather information on the H2S concentrations at this location to aid in equipment design and to evaluate Vaalco’s chemical crude sweetening process. The well has flowed for over four months, and the H2S concentration is within modeling expectations, demonstrating Vaalco’s ability to treat the oil. The well has provided additional production, with some additional operating costs associated with the chemical treatment, adding to the Company’s strong first quarter results.

    Côte d’Ivoire

    As part of the planned dry dock refurbishment, the Baobab Floating Production Storage and Offloading vessel (“FPSO”) ceased hydrocarbon production on January 31, 2025 and the final lifting of crude oil from the FPSO took place in February 2025. The vessel departed from the field in late March 2025 and is now currently under tow to the shipyard in Dubai for the refurbishment. Significant development drilling is expected to begin in 2026 after the FPSO is expected to return to service with potential meaningful additions to production from the main Baobab field in CI-40, as well as a potential future development of the Kossipo field, which is also on the license.

    In March 2025, Vaalco announced that it had farmed into the CI-705 block offshore Côte d’Ivoire. Vaalco is the operator of the block with a 70% WI and a 100% paying interest through a commercial carry arrangement and is partnering with Ivory Coast Exploration Oil & Gas SAS and PETROCI. The CI-705 block is located in the prolific Tano basin and is approximately 70 kilometers (“km”) to the west of Vaalco’s CI-40 Block, where the Baobab and Kossipo oil fields are located, and 60 km west of ENI’s recent Calao discovery. Block CI-705 covers approximately 2,300 km2 and is lightly explored with three wells drilled to date on the block. The water depth across the block ranges from zero to 2,500 meters. Vaalco has invested $3 million to acquire its interest in the new block, which it believes has significant prospectivity.

    Financial Update – First Quarter of 2025

    Vaalco reported net income of $7.7 million ($0.07 per diluted share) for Q1 2025, which was down 34% compared with net income of $11.7 million ($0.11 per diluted share) in Q4 2024 and up modestly compared to $7.7 million ($0.07 per diluted share) in Q1 2024. The decrease in earnings compared with Q4 2024 was driven by lower sales volume in Q1 2025 of 1,717 MBOE compared to a sales volume of 1,872 MBOE in Q4 2024 and higher production expense, partially offset by lower depreciation, depletion and amortization (“DD&A”) and lower income tax expense.

    Adjusted EBITDAX totaled $57.0 million in Q1 2025, a 25% decrease from $76.2 million in Q4 2024. The decrease was primarily due to lower sales volumes and higher production expense. Adjusted EBITDAX was down 8% from $61.7 million generated in Q1 2024.


    Quarterly Summary – Sales and Net Revenue    		                        
    $ in thousands Three Months Ended March 31, 2025   Three Months Ended December 31, 2024
      Gabon   Egypt   Canada   Côte d’Ivoire   Total   Gabon   Egypt   Canada   Côte d’Ivoire   Total
    Oil Sales   59,864       57,656       5,325       18,042   $ 140,887       54,172       59,010       6,685       28,045   $ 147,912  
    NGL Sales   —       —       1,808       —     1,808       —       —       1,965       —     1,965  
    Gas Sales   —       —       636       —     636       —       —       421       —     421  
    Gross Sales   59,864       57,656       7,769       18,042     143,331       54,172       59,010       9,071       28,045     150,298  
                                           
    Selling Costs & Carried Interest   —       (149 )     (232 )     —     (381 )     450       (130 )     (319 )     —     1  
    Royalties & Taxes   (7,677 )     (23,587 )     (1,357 )     —     (32,621 )     (7,455 )     (19,899 )     (1,224 )     —     (28,578 )
                                           
    Net Revenue   52,187       33,920       6,180       18,042     110,329       47,167       38,981       7,528       28,045     121,721  
                                           
    Oil Sales MMB (working interest)   757       920       80       238     1,995       733       923       99       379     2,134  
    Average Oil Price Received $ 79.09     $ 62.49     $ 66.17     $ 75.87   $ 70.61     $ 73.92     $ 63.92     $ 67.68     $ 73.90   $ 69.30  
    Change                   2 %                    
    Average Brent Price                 $ 75.87                     $ 74.66  
    Change                   2 %                    
                                           
    Gas Sales MMCF (working interest)   —       —       413       —     413       —       —       431       —     431  
    Average Gas Price Received   —       —     $ 1.54       —   $ 1.54       —       —     $ 0.98       —   $ 0.98  
    Change                   57 %                    
    Average Aeco Price ($USD)   —       —     $ 1.43       —   $ 1.43       —       —     $ 1.36       —   $ 1.36  
    Change                   5 %                    
                                           
    NGL Sales MMB (working interest)   —       —       69       —     69       —       —       75       —     75  
    Average Liquids Price Received   —       —     $ 26.39       —   $ 26.39       —       —     $ 26.22       —   $ 26.22  
    Change                   1 %                    
     
    Revenue and Sales Q1 2025   Q1 2024   % Change Q1 2025 vs. Q1 2024   Q4 2024   % Change Q1 2025 vs. Q4 2024
    Production (NRI BOEPD)   17,764     16,848   5 %     20,775   (14 %)
    Sales (NRI BOE)   1,717,000     1,490,000   15 %     1,872,000   (8 %)
    Realized commodity price ($/BOE) $ 64.27   $ 66.43   (3 %)   $ 64.77   (1)%
    Commodity (Per BOE including realized commodity derivatives) $ 64.34   $ 66.41   (3 %)   $ 64.48   — %
    Total commodity sales ($MM) $ 110.3   $ 100.2   10 %   $ 121.7   (9 %)

    In Q1 2025, Vaalco had a net revenue decrease of $11.4 million or 9% compared to Q4 2024 as total NRI sales volumes of 1,717 MBOE was 8% lower than the Q4 2024 volumes of 1,872 MBOE but was 15% higher compared to 1,490 MBOE for Q1 2024, primarily due to production from the Cote d’Ivoire assets acquired in April 2024. Q1 2025 NRI sales were toward the high end of Vaalco’s guidance.

    Costs and Expenses Q1 2025   Q1 2024   % Change Q1 2025 vs. Q1 2024   Q4 2024   % Change Q1 2025 vs. Q4 2024
    Production expense, excluding offshore workovers and stock comp ($MM) $ 44.7     $ 32.1     39 %   $ 36.5     23 %
    Production expense, excluding offshore workovers ($/BOE) $ 26.08     $ 21.58     21 %   $ 19.52     34 %
    Offshore workover expense ($MM) $ —     $ (0.1 )   — %   $ 0.1     — %
    Depreciation, depletion and amortization ($MM) $ 30.3     $ 25.8     17 %   $ 37.0     (18 %)
    Depreciation, depletion and amortization ($/BOE) $ 17.65     $ 17.30     2 %   $ 19.79     (11 %)
    General and administrative expense, excluding stock-based compensation ($MM) $ 7.8     $ 5.9     31 %   $ 7.1     9 %
    General and administrative expense, excluding stock-based compensation ($/BOE) $ 4.51     $ 3.90     16 %   $ 3.80     19 %
    Stock-based compensation expense ($MM) $ 1.4     $ 0.9     50 %   $ 1.4     (3 %)
    Current income tax expense (benefit) ($MM) $ 17.7     $ 25.7     (31 %)   $ 26.2     (32)%
    Deferred income tax expense (benefit) ($MM) $ (1.6 )   $ (3.4 )   (53 %)   $ (9.0 )   (82 %)

    Total production expense (excluding offshore workovers and stock compensation) of $44.7 million in Q1 2025 increased by 23% compared to Q4 2024 and 39% compared to Q1 2024. The increase in Q1 2025 compared to Q1 2024 was primarily driven by higher expenses in Gabon related to government audit settlements of approximately $4.7 million (net to Vaalco), additional chemical costs associated with the H2S treatment and to the increased sales associated with the purchase of the Côte d’Ivoire asset. The increase in Q1 2025 compared to Q4 2024 was driven by higher expenses in Gabon related to the government audit settlements and higher chemical costs.

    DD&A expense for Q1 2025 was $30.3 million which was lower than $37.0 million in Q4 2024 and higher than $25.8 million in Q1 2024. The decrease in Q1 2025 DD&A expense compared to Q4 2024 is due primarily to the impact of the year end 2024 depletion adjustments based on the year end reserve reports. The increase in Q1 2025 DD&A expense compared to Q1 2024 is due to higher depletable costs in Côte d’Ivoire partially offset by lower depletable costs in Gabon, Egypt, and Canada.

    General and administrative (“G&A”) expense, excluding stock-based compensation, increased slightly to $7.8 million in Q1 2025 from $7.1 million in Q4 2024 and increased from $5.9 million in Q1 2024. The increase in G&A expenses compared to Q1 2024 was primarily due to higher professional service fees, salaries and wages, and accounting and legal fees. Q1 2025 cash G&A was within the Company’s guidance.

    Non-cash stock-based compensation expense was $1.4 million for Q1 2025 compared to $0.9 million for Q1 2024. Non-cash stock-based compensation expense for Q4 2024 was $1.4 million.

    Other income (expense), net, was an expense of $2.4 million for Q1 2025, compared to an expense of $2.3 million during Q1 2024 and an expense of $9.7 million for Q4 2024. Other income (expense), net, normally consists of foreign currency losses and interest expense, net. Also in Q4 2024, the Company recorded a reduction in the bargain purchase gain of $6.4 million as a result of the change in fair value estimates of the net assets acquired in the Svenska acquisition.

    Income tax expense (benefit) was an expense for Q1 2025 of $16.1 million and is comprised of current expense of $17.7 million and deferred tax benefit of $1.6 million. In Q1 2024, income tax expense was $22.3 million and is comprised of current expense of $25.7 million and deferred tax benefit of $3.4 million. Q4 2024 income tax expense was $17.2 million, and is comprised of current tax expense of $26.2 million and deferred tax benefit of $9.0 million.

    Taxes paid by jurisdiction are as follows:

    (in thousands)   Gabon   Egypt   Canada   Equatorial Guinea   Cote d’Ivoire   Corporate and Other   Total  
    Cash/In Kind Taxes Paid:                              
    Three months ended March 31, 2025   $ 30,253   6,953   —   —   $ 790   —   $ 37,996  


    Capital Investments/Balance Sheet

    For the first quarter of 2025, net capital expenditures totaled $58.5 million on a cash basis and $51.3 million on an accrual basis. These expenditures were primarily related to costs associated with project costs and long lead items for Gabon and Côte d’Ivoire and the development drilling program in Egypt.

    At the end of the first quarter of 2025, Vaalco had an unrestricted cash balance of $40.9 million. Working capital at March 31, 2025 was $23.2 million compared with $56.2 million at December 31, 2024, while Adjusted Working Capital at March 31, 2025 totaled $40.4 million.

    In March 2025, Vaalco entered into a new reserves based revolving credit facility (the “new facility”) with an initial commitment of $190 million and the ability to grow to $300 million, led by The Standard Bank of South Africa Limited, Isle of Man Branch with other participating banks and financial partners. The new facility, which is subject to customary administrative conditional precedents, replaces the Company’s existing undrawn revolving credit facility that was provided by Glencore Energy UK Ltd. The Company arranged the new facility primarily to provide short-term funding that may be needed from time-to-time to supplement its internally generated cash flow and cash balance as it executes its planned investment programs across its diversified asset base over the next few years.

    Quarterly Cash Dividend

    Vaalco paid a quarterly cash dividend of $0.0625 per share of common stock for the first quarter of 2025 on March 28, 2025. The Company also recently announced its next quarterly cash dividend of $0.0625 per share of common stock for the second quarter of 2025 ($0.25 annualized), to be paid on June 27, 2025 to stockholders of record at the close of business on May 23, 2025. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Vaalco Board of Directors.

    Hedging

    The Company continued to opportunistically hedge a portion of its expected future production to lock in strong cash flow generation to assist in funding its capital and shareholder return programs.

    The following includes hedges remaining in place as of the end of the first quarter of 2025:

                        Weighted Average Hedge Price ($/Bbl)
    Settlement Period   Commodity   Type of Contract   Index   Average Volumes Hedged (Bbl)   Floor   Ceiling
    April 2025 – June 2025   Oil   Collars   Dated Brent   70,000   $ 65.00   $ 81.00
    July 2025 – September 2025   Oil   Collars   Dated Brent   60,000   $ 65.00   $ 80.00

    Subsequent to March 31, 2025, the Company entered into the following additional derivative contracts to cover its future anticipated production:

    Settlement Period   Commodity   Type of Contract   Index   Average Volumes Hedged (GJ)(a)   Weighted Average Hedge Price (CAD/GJ)
    May 2025 – October 2025   Natural Gas   Swap   AECO (7A)   114,000   $ 2.15

    a) One gigajoule (GJ) equals one billion joules (J). A gigajoule of natural gas is approximately 25.5 cubic meters standard conditions.

    Settlement Period   Commodity   Type of Contract   Index   Average Volumes Hedged (Bbl)   Weighted Average Hedge Price ($/Bbl)
    July 1, 2025 – July 31, 2025   Oil   Swap   Dated Brent   100,000   $ 65.45


    Capital Markets Day Presentation

    Vaalco announced that it will host a Capital Markets Day presentation on Wednesday, May 14, 2025. The presentation will begin at 8 a.m. Central Time (2 p.m. London Time) and is expected to conclude around 10:00 a.m. Central Time. The agenda will include presentations by key members of management on Vaalco’s longer-term vision including growth across its diversified, multi-country asset base.

    Participation in the Capital Markets Day is directed to Vaalco’s shareholders, buy side and sell side analysts, as well as large institutional investors and portfolio managers. The session will be web cast live along with related presentation materials through Vaalco’s web site at www.vaalco.com in the “Investors” section of the web site. A replay will be archived on the site shortly after the presentation concludes.

    2025 Guidance:

    The Company has provided second quarter 2025 guidance and updated its full year 2025 guidance. All of the quarterly and annual guidance is detailed in the tables below.

          FY 2025   Gabon   Egypt   Canada   Côte d’Ivoire
    Production (BOEPD) WI   19250 – 22310   7000 – 8300   9750 – 11100   2200 – 2600   300 – 310
    Production (BOEPD) NRI   14500 – 16710   6200 – 7100   6200 – 7200   1800 – 2100   300 – 310
    Sales Volume (BOEPD) WI   19850 – 22700   7300 – 8300   9750 – 11100   2200 – 2600   600 – 700
    Sales Volume (BOEPD) NRI   14900 – 17200   6300 – 7200   6200 – 7200   1800 – 2100   600 – 700
    Production Expense (millions) WI & NRI   $148.5 – $161.5 MM                
    Production Expense per BOE WI   $18.00 – $21.50                
    Production Expense per BOE NRI   $24.00 – $28.00                
    Offshore Workovers (millions) WI & NRI   $0 – $10 MM                
    Cash G&A (millions) WI & NRI   $25.0 – $31.0 MM                
    CAPEX excluding acquisitions (millions) WI & NRI   $250 – $300 MM                
    DD&A ($/BOE) NRI   $16.00 – $20.00                
          Q2 2025   Gabon   Egypt   Canada   Côte d’Ivoire
    Production (BOEPD) WI   20000 – 22100   7800 – 8600   10100 – 11200   2100 – 2300   —
    Production (BOEPD) NRI   15400 – 16800   6800 – 7500   6900 – 7400   1700 – 1900   —
    Sales Volume (BOEPD) WI   22800 – 24900   10600 – 11400   10100 – 11200   2100 – 2300   —
    Sales Volume (BOEPD) NRI   17800 – 19300   9200 – 10000   6900 – 7400   1700 – 1900   —
    Production Expense (millions) WI & NRI   $39.5 – $48.0 MM                
    Production Expense per BOE WI   $18.00 – $23.00                
    Production Expense per BOE NRI   $23.00 – $29.00                
    Offshore Workovers (millions) WI & NRI   $0 – $0 MM                
    Cash G&A (millions) WI & NRI   $6.0 – $8.0 MM                
    CAPEX excluding acquisitions (millions) WI & NRI   $65 – $85 MM                
    DD&A ($/BOE) NRI   $16.00 – $20.00                


    Conference Call

    As previously announced, the Company will hold a conference call to discuss its first quarter 2025 financial and operating results, Friday, May 9, 2025, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time and 3:00 p.m. London Time). Interested parties may participate by dialing (833) 685-0907. Parties in the United Kingdom may participate toll-free by dialing 08082389064 and other international parties may dial (412) 317-5741. Participants should request to be joined to the “Vaalco Energy First Quarter 2025 Conference Call.” This call will also be webcast on Vaalco’s website at www.vaalco.com. An archived audio replay will be available on Vaalco’s website.

    A “Q1 2025 Supplemental Information” investor deck will be posted to Vaalco’s website prior to its conference call on May 9, 2025 that includes additional financial and operational information.

    About Vaalco

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

    For Further Information

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


    Forward Looking Statements

    This press release includes “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, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “forward-looking information” within the meaning of applicable Canadian securities laws(collectively, “forward-looking statements”). Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of historical fact may be forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or similar words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, statements relating to (i) estimates of future drilling, production, sales and costs of acquiring crude oil, natural gas and natural gas liquids; (ii) expectations regarding Vaalco’s ability to effectively integrate assets and properties it has acquired as a result of the Svenska acquisition into its operations; (iii) expectations regarding future exploration and the development, growth and potential of Vaalco’s operations, project pipeline and investments, and schedule and anticipated benefits to be derived therefrom; (iv) expectations regarding future acquisitions, investments or divestitures; (v) expectations of future dividends; (vi) expectations of future balance sheet strength; and (vii) expectations of future equity and enterprise value.

    Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: risks relating to any unforeseen liabilities of Vaalco; the ability to generate cash flows that, along with cash on hand, will be sufficient to support operations and cash requirements; risks relating to the timing and costs of completion for scheduled maintenance of the FPSO servicing the Baobab field; and the risks described under the caption “Risk Factors” in Vaalco’s most recent Annual Report on Form 10-K.

    Dividends beyond the second quarter of 2025 have not yet been approved or declared by the Board of Directors for Vaalco. The declaration and payment of future dividends remains at the discretion of the Board and will be determined based on Vaalco’s financial results, balance sheet strength, cash and liquidity requirements, future prospects, crude oil and natural gas prices, and other factors deemed relevant by the Board. The Board reserves all powers related to the declaration and payment of dividends. Consequently, in determining the dividend to be declared and paid on Vaalco common stock, the Board may revise or terminate the payment level at any time without prior notice.

    Any forward-looking statement made by Vaalco in this press release is based only on information currently available to Vaalco and speaks only as of the date on which it is made. Except as may be required by applicable securities laws, Vaalco undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Other Oil and Gas Advisories

    Investors are cautioned when viewing BOEs in isolation. BOE conversion ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalencies described above, utilizing such equivalencies may be incomplete as an indication of value.

    Inside Information

    This announcement contains inside information as defined in Regulation (EU) No. 596/2014 on market abuse which is part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”) and is made in accordance with the Company’s obligations under article 17 of MAR. The person responsible for arranging the release of this announcement on behalf of Vaalco is Matthew Powers, Corporate Secretary of Vaalco.

    VAALCO ENERGY, INC AND SUBSIDIARIES
    Condensed Consolidated Balance Sheets

      As of March 31, 2025   As of December 31, 2024
      (in thousands)
    ASSETS      
    Current assets:      
    Cash and cash equivalents $ 40,914   $ 82,650
    Receivables:      
    Trade, net of allowances for credit loss and other of $0.2 million and $0.2 million, respectively   120,252     94,778
    Accounts with joint venture owners, net of allowance for credit losses of $1.8 million and $1.5 million, respectively   2,847     179
    Egypt receivables and other   3,235     35,763
    Other current assets   33,590     24,557
    Total current assets   200,838     237,927
    Crude oil, natural gas and NGLs properties and equipment, net   562,926     538,103
    Other noncurrent assets:      
    Right of use operating lease assets   16,303     17,254
    Right of use finance lease assets   78,862     79,849
    Deferred tax assets   48,364     55,581
    Other long-term assets   19,810     26,236
    Total assets $ 927,103   $ 954,950
    LIABILITIES AND SHAREHOLDERS’ EQUITY      
    Current liabilities $ 177,675   $ 181,728
    Asset retirement obligations   81,053     78,592
    Operating lease liabilities – net of current portion   12,915     13,903
    Finance lease liabilities – net of current portion   66,198     67,377
    Deferred tax liabilities   85,168     93,904
    Other long-term liabilities   —     17,863
    Total liabilities   423,009     453,367
    Total shareholders’ equity   504,094     501,583
    Total liabilities and shareholders’ equity $ 927,103   $ 954,950


    VAALCO ENERGY, INC AND SUBSIDIARIES
    Consolidated Statements of Operations

      Three Months Ended
      March 31, 2025   March 31, 2024   December 31, 2024
      (in thousands except per share amounts)
    Revenues:          
    Crude oil, natural gas and natural gas liquids sales $ 110,329     $ 100,155     $ 121,721  
    Operating costs and expenses:          
    Production expense   44,806       32,089       36,641  
    Exploration expense   —       48       —  
    Depreciation, depletion and amortization   30,305       25,824       37,047  
    Transaction costs related to acquisition   —       1,313       —  
    General and administrative expense   9,051       6,710       8,454  
    Credit losses and other   (27 )     1,812       1,082  
    Total operating costs and expenses   84,135       67,796       83,224  
    Other operating income, net   —       (166 )     10  
    Operating income   26,194       32,193       38,507  
    Other income (expense):          
    Derivative instruments gain (loss), net   (74 )     (847 )     (365 )
    Interest expense, net   (1,295 )     (935 )     (1,092 )
    Bargain purchase gain   —       —       (6,366 )
    Other income (expense), net   (1,012 )     (487 )     (1,828 )
    Total other income (expense), net   (2,381 )     (2,269 )     (9,651 )
    Income before income taxes   23,813       29,924       28,856  
    Income tax expense   16,083       22,238       17,192  
    Net income $ 7,730     $ 7,686     $ 11,664  
    Other comprehensive income (loss):          
    Currency translation adjustments   117       (2,454 )     (5,975 )
    Comprehensive income $ 7,847     $ 5,232     $ 5,689  
               
    Basic net income per share:          
    Net income per share $ 0.07     $ 0.07     $ 0.11  
    Basic weighted average shares outstanding   103,758       103,659       103,743  
    Diluted net income per share:          
    Net income per share $ 0.07     $ 0.07     $ 0.11  
    Diluted weighted average shares outstanding   103,785       104,541       103,812  


    VAALCO ENERGY, INC AND SUBSIDIARIES
    Condensed Consolidated Statements of Cash Flows

      Three Months Ended March 31,
        2025       2024  
      (in thousands)
    CASH FLOWS FROM OPERATING ACTIVITIES:      
    Net income $ 7,730     $ 7,686  
    Adjustments to reconcile net income to net cash provided by operating activities:      
    Depreciation, depletion and amortization   30,305       25,824  
    Exploration expense   146       —  
    Deferred taxes   (1,519 )     (3,441 )
    Unrealized foreign exchange loss   1,673       (102 )
    Stock-based compensation   1,475       898  
    Cash settlements paid on exercised stock appreciation rights   —       (154 )
    Derivative instruments (gain) loss, net   74       847  
    Cash settlements paid on matured derivative contracts, net   123       (24 )
    Cash settlements paid on asset retirement obligations   —       (29 )
    Credit losses and other   (27 )     1,812  
    Other operating loss, net   —       166  
    Equipment and other expensed in operations   972       302  
    Change in operating assets and liabilities   (8,246 )     (11,953 )
    Net cash provided by operating activities   32,706       21,832  
    CASH FLOWS FROM INVESTING ACTIVITIES:      
    Property and equipment expenditures   (58,527 )     (16,618 )
    Acquisition of crude oil and natural gas properties   (247 )     —  
    Net cash used in investing activities   (58,774 )     (16,618 )
    CASH FLOWS FROM FINANCING ACTIVITIES:      
    Proceeds from the issuances of common stock   —       447  
    Dividend distribution   (6,570 )     (6,463 )
    Treasury shares   (155 )     (6,344 )
    Deferred financing costs   (5,118 )     —  
    Payments of finance lease   (2,943 )     (2,095 )
    Net cash used in in financing activities   (14,786 )     (14,455 )
    Effects of exchange rate changes on cash   27       (208 )
    NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH   (40,827 )     (9,449 )
    CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD   97,726       129,178  
    CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 56,899     $ 119,729  

    VAALCO ENERGY, INC AND SUBSIDIARIES
    Selected Financial and Operating Statistics
    (Unaudited)

      Three Months Ended
      March 31, 2025   March 31, 2024   December 31, 2024
    NRI SALES DATA          
    Crude oil, natural gas and natural gas liquids sales (MBOE) 1,717   1,490   1,872
    Average daily sales volumes (BOE) 19,074   16,374   20,352
               
    WI PRODUCTION DATA          
    Etame Crude oil (MBbl) 767   819   791
    Gabon Average daily production volumes (BOEPD) 8,522   9,001   8,598
               
    Egypt Crude oil (MBbl) 920   950   923
    Egypt Average daily production volumes (BOEPD) 10,225   10,440   10,035
               
    Canada Crude Oil (MBbl) 80   61   99
    Canada Natural Gas (MMcf) 413   469   431
    Canada Natural Gas Liquid (MBOE) 69   76   75
    Canada Crude oil, natural gas and natural gas liquids (MBOE) 218   215   246
    Canada Average daily production volumes (BOEPD) 2,420   2,363   2,669
               
    Côte d’Ivoire Crude oil (MBbl) 111   —   368
    Côte d’Ivoire Average daily production volumes (BOEPD) 1,235   —   3,997
               
    Total Crude oil, natural gas and natural gas liquids production (MBOE) 2,016   1,984   2,328
    Average daily production volumes (BOEPD) 22,402   21,804   25,300
               
    NRI PRODUCTION DATA          
    Etame Crude oil (MBbl) 667   713   688
    Gabon Average daily production volumes (BOEPD) 7,414   7,835   7,481
               
    Egypt Crude oil (MBbl) 642   641   644
    Egypt Average daily production volumes (BOEPD) 7,131   7,044   7,001
               
    Canada Crude Oil (MBbl) 66   51   85
    Canada Natural Gas (MMcf) 338   392   371
    Canada Natural Gas Liquid (MBOE) 56   63   64
    Canada Crude oil, natural gas and natural gas liquids (MBOE) 179   179   211
    Canada Average daily production volumes (BOEPD) 1,984   1,971   2,296
               
    Côte d’Ivoire Crude oil (MBbl) 111   —   368
    Côte d’Ivoire Average daily production volumes (BOEPD) 1,235   —   3,997
               
    Total Crude oil, natural gas and natural gas liquids production (MBOE) 1,599   1,533   1,911
    Average daily production volumes (BOEPD) 17,764   16,850   20,775
    AVERAGE SALES PRICES:          
    Crude oil, natural gas and natural gas liquids sales (per BOE) – WI basis $ 67.03   $ 69.62   $ 65.69
    Crude oil, natural gas and natural gas liquids sales (per BOE) – NRI basis $ 64.27   $ 66.43   $ 64.77
    Crude oil, natural gas and natural gas liquids sales (Per BOE including realized commodity derivatives) – NRI basis $ 64.34   $ 66.41   $ 64.48
               
    COSTS AND EXPENSES (Per BOE of sales):          
    Production expense   26.10   $ 21.54   $ 19.57
    Production expense, excluding offshore workovers and stock compensation*   26.05   $ 21.56   $ 19.49
    Depreciation, depletion and amortization   17.65   $ 17.33   $ 19.79
    General and administrative expense**   5.27   $ 4.50   $ 4.52
    Property and equipment expenditures, cash basis (in thousands) $ 58,527   $ 16,618   $ 41,466

    * Offshore workover costs excluded for the three months ended March 31, 2025 and 2024 and December 31, 2024 are $0.0 million, $(0.1) million and $0.1 million, respectively.
    * Stock compensation associated with production expense excluded from the three months ended March 31, 2025 and 2024 and December 31, 2024 are immaterial.
    ** General and administrative expenses include $0.76, $0.58 and $0.72 per barrel of oil related to stock-based compensation expense in the three months ended March 31, 2025 and 2024 and December 31, 2024, respectively.

    NON-GAAP FINANCIAL MEASURES

    Management uses Adjusted Net Income to evaluate operating and financial performance and believes the measure is useful to investors because it eliminates the impact of certain non-cash and/or other items that management does not consider to be indicative of the Company’s performance from period to period. Management also believes this non-GAAP measure is useful to investors to evaluate and compare the Company’s operating and financial performance across periods, as well as to facilitate comparisons to others in the Company’s industry. Adjusted Net Income is a non-GAAP financial measure and as used herein represents net income, plus deferred income tax expense (benefit), unrealized derivative instrument loss (gain), bargain purchase gain on the Svenska Acquisition, FPSO demobilization, transaction costs related to the Svenska acquisition and non-cash and other items.

    Adjusted EBITDAX is a supplemental non-GAAP financial measure used by Vaalco’s management and by external users of the Company’s financial statements, such as industry analysts, lenders, rating agencies, investors and others who follow the industry. Management believes the measure is useful to investors because it is as an indicator of the Company’s ability to internally fund exploration and development activities and to service or incur additional debt. Adjusted EBITDAX is a non-GAAP financial measure and as used herein represents net income, plus interest expense (income) net, income tax expense (benefit), depreciation, depletion and amortization, exploration expense, FPSO demobilization, non-cash and other items including stock compensation expense, bargain purchase gain on the Svenska Acquisition, other operating (income) expense, net, non-cash purchase price adjustment, transaction costs related to acquisition, credit losses and other and unrealized derivative instrument loss (gain).

    Management uses Adjusted Working Capital as a transition tool to assess the working capital position of the Company’s continuing operations excluding leasing obligations because it eliminates the impact of discontinued operations as well as the impact of lease liabilities. Under the applicable lease accounting standards, lease liabilities related to assets used in joint operations include both the Company’s share of expenditures as well as the share of lease expenditures which its non-operator joint venture owners’ will be obligated to pay under joint operating agreements. Adjusted Working Capital is a non-GAAP financial measure and as used herein represents working capital excluding working capital attributable to discontinued operations and current liabilities associated with lease obligations.

    Management uses Free Cash Flow to evaluate financial performance and to determine the total amount of cash over a specified period available to be used in connection with returning cash to shareholders, and believes the measure is useful to investors because it provides the total amount of net cash available for returning cash to shareholders by adding cash generated from operating activities, subtracting amounts used in financing and investing activities, effects of exchange rate changes on cash and adding back amounts used for dividend payments and stock repurchases. Free Cash Flow is a non-GAAP financial measure and as used herein represents net change in cash, cash equivalents and restricted cash and adds the amounts paid under dividend distributions and share repurchases over a specified period.

    Free Cash Flow has significant limitations, including that it does not represent residual cash flows available for discretionary purposes and should not be used as a substitute for cash flow measures prepared in accordance with GAAP. Free Cash Flow should not be considered as a substitute for cashflows from operating activities before discontinued operations or any other liquidity measure presented in accordance with GAAP. Free Cash Flow may vary among other companies. Therefore, the Company’s Free Cash Flow may not be comparable to similarly titled measures used by other companies.

    Adjusted EBITDAX and Adjusted Net Income have significant limitations, including that they do not reflect the Company’s cash requirements for capital expenditures, contractual commitments, working capital or debt service. Adjusted EBITDAX, Adjusted Net Income, Adjusted Working Capital and Free Cash Flow should not be considered as substitutes for net income (loss), operating income (loss), cash flows from operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. Adjusted EBITDAX and Adjusted Net Income exclude some, but not all, items that affect net income (loss) and operating income (loss), and the calculation of these measures may vary among other companies. Therefore, the Company’s Adjusted EBITDAX, Adjusted Net Income, Adjusted Working Capital and Free Cash Flow may not be comparable to similarly titled measures used by other companies.

    The tables below reconcile the most directly comparable GAAP financial measures to Adjusted Net Income, Adjusted EBITDAX, Adjusted Working Capital and Free Cash Flow.

    VAALCO ENERGY, INC AND SUBSIDIARIES
    Reconciliations of Non-GAAP Financial Measures
    (Unaudited)
    (in thousands)

      Three Months Ended
    Reconciliation of Net Income to Adjusted Net Income March 31, 2025   March 31, 2024   December 31, 2024
    Net income $ 7,730     $ 7,686     $ 11,664  
    Adjustment for discrete items:          
    Unrealized derivative instruments loss (gain)   198       823       96  
    Bargain purchase gain   —       —       6,366  
    Deferred income tax expense (benefit)   (1,610 )     (3,441 )     (11,781 )
    Transaction costs related to acquisition   22       1,313       508  
    Other operating (income) expense, net   —       166       (10 )
    Adjusted Net Income $ 6,340     $ 6,547     $ 6,843  
               
    Diluted Adjusted Net Income per Share $ 0.06     $ 0.06     $ 0.07  
    Diluted weighted average shares outstanding (1)   103,785       104,541       103,812  

    (1)  No adjustments to weighted average shares outstanding

      Three Months Ended
    Reconciliation of Net Income to Adjusted EBITDAX March 31, 2025   March 31, 2024   December 31, 2024
    Net income $ 7,730     $ 7,686   $ 11,664  
    Add back:          
    Interest expense, net   1,295       935     1,092  
    Income tax expense   16,083       22,238     17,192  
    Depreciation, depletion and amortization   30,305       25,824     37,047  
    Exploration expense   —       48     —  
    Non-cash or unusual items:          
    Stock-based compensation   1,352       899     1,196  
    Unrealized derivative instruments loss   198       823     96  
    Bargain purchase gain   —       —     6,366  
    Other operating (income) expense, net   —       166     (10 )
    Transaction costs related to acquisition   22       1,313     508  
    Credit losses and other   (27 )     1,812     1,082  
    Adjusted EBITDAX $ 56,958     $ 61,744   $ 76,233  

    VAALCO ENERGY, INC AND SUBSIDIARIES
    Reconciliations of Non-GAAP Financial Measures
    (Unaudited)
    (in thousands)

    Reconciliation of Working Capital to Adjusted Working Capital March 31, 2025   December 31, 2024   Change
    Current assets $ 200,838     $ 237,927     $ (37,089 )
    Current liabilities   (177,675 )     (181,728 )     4,053  
    Working capital   23,163       56,199       (33,036 )
    Add: lease liabilities – current portion   17,249       16,895       354  
    Adjusted Working Capital $ 40,412     $ 73,094     $ (32,682 )
       
      Three Months Ended March 31, 2025
    Reconciliation of Free Cash Flow (in thousands)
    Net cash provided by Operating activities $ 32,706  
    Net cash used in Investing activities   (58,774 )
    Net cash used in Financing activities   (14,786 )
    Effects of exchange rate changes on cash   27  
    Total net cash change   (40,827 )
       
    Add back shareholder cash out:  
    Dividends paid   6,570  
    Total cash returned to shareholders   6,570  
       
    Free Cash Flow $ (34,257 )

    The MIL Network –

  • MIL-OSI Video: Historic U.S.-UK Trade Deal

    Source: United States of America – Department of State (video statements)

    As President Trump said when announcing today’s historic trade deal between the U.S. and the United Kingdom, “If you respect America and bring serious proposals to the table, America is open to business.”

    https://www.youtube.com/watch?v=f9PhhlqeA9E

    MIL OSI Video –

  • MIL-OSI USA: Shaheen Statement on President Trump’s “Trade Deal” with UK

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), Ranking Member of the U.S. Senate Foreign Relations Committee and a top member of the U.S. Senate Small Business Committee, released the following statement in response to President Trump’s announcement of a trade deal with the UK:

    “This is one step forward after taking five steps back. Even after President Trump’s so-called ‘comprehensive’ deal is finalized, we will still have dramatically higher tariffs on the United Kingdom than we did at the beginning of this trade war, and American families and exporters will pay the cost.

    “I agree with the President that we should be looking for ways to ensure fair access for American businesses where real barriers exist – but it is clear that his destructive and chaotic trade war is doing nothing to accomplish this for American families and businesses. Instead, we have higher prices, exporters and manufacturers who are reeling from increasing costs and laying off staff, defense supply chains disrupted and enormous diplomatic damage that is driving our allies into China’s arms.

    “While I’m glad the administration is now recognizing the need to undo some of the harm it has done, Americans are still paying a new 10 percent tax on goods. This does nothing to address the arbitrary and self-imposed trade barriers we’ve placed on nearly 200 other countries. It’s high time this administration stop using tariffs to coerce our allies and partners to the negotiating table before it inflicts long term damage on our economy.”

    MIL OSI USA News –