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  • MIL-OSI Russia: More than 60 lanterns were installed near new buildings under the renovation program in the Koptevo district

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    More than 60 lanterns have been installed near three residential complexes under the renovation program in the north of the capital in the Koptevo district. This was reported by the Minister of the Moscow Government, Head of the Department of Urban Development Policy Vladislav Ovchinsky.

    Creating a high-quality urban environment is one of the main tasks of the renovation program. The area around new buildings is being improved: comprehensive landscaping is being carried out, playgrounds and sports grounds, recreation areas are being equipped, and CCTV cameras and lights are being installed.

    “Three new buildings were erected and handed over for occupancy in the Koptevo district under the renovation program. For the comfort and safety of residents, 62 outdoor lighting fixtures were installed there. The largest number of them is in the residential complex in Cherepanov Drive – 37. In 3rd Novomikhalkovsky Drive – 17, and another eight are in Sobolevsky Drive,” Vladislav Ovchinsky specified.

    Earlier Sergei Sobyanin congratulated The 200,000th resident who has begun resettlement under the renovation program.

    All information about the renovation program is presented on the mos.ru portal. You can find out more about apartments and houses under the program by link.

    The renovation program was approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. Earlier, Sergei Sobyanin instructed to double the pace of implementation of the renovation program.

    Moscow is one of the leaders among regions in terms of construction volumes. High rates of housing construction correspond to the goals and initiatives of the national project “Infrastructure for life”.

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

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

    https: //vv.mos.ru/nevs/ite/149940073/

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Police locate person sought following incident in Clutha area

    Source: New Zealand Police (National News)

    Today Police have located the person sought in relation to alleged firearms offending in the Clutha area.

    Police have engaged in dialogue with the person, who is believed to be alone, at a rural Clutha property.

    The situation is contained and there is currently no risk to the public.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI Video: International Day of Women and Girls in Science and Marie Curie’s Enduring Influence

    Source: European Commission (video statements)

    Marie Slowdoska Curie is a pillar in today’s scientific advancements and has inspired many women and girls to follow in her footsteps. On the 11th of February, we celebrate the International Day of Women and Girls in Science.

    https://www.youtube.com/watch?v=hxNlmu8ZxJk

    MIL OSI Video –

  • MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu and Mrs. Wu Attended the Grand Opening of OMMI DON Chatswood

    Source: Republic Of China Taiwan 2

    irector General David Cheng-Wei Wu and Mrs. Wu attended the grand opening of OMMI DON Chatswood, joining @Tim James MP, Shadow Minister for Small Business, Willoughby Deputy Mayor Angelo Rozos, Councillor Michelle Chuang, and Liberal candidate for Bradfield @Gisele Kapterian for the ribbon-cutting ceremony. They also took part in the traditional eye-dotting ritual, celebrating this exciting new milestone for Ommi’s .
    DG Wu praised Omar’s inspiring journey—overcoming challenges and taking Ommi’s Food & Catering to new heights. His resilience embodies the spirit of Taiwan and its people, and his success is a great example of how a Taiwanese business can thrive and become an integral part of the local community. It also reflects the diversity and vibrancy of Australia’s multicultural economy.
    We wish Omar and his team continued success and fulfillment in this exciting new chapter.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu and Mrs. Wu Attended the Lunar New Year Gathering Hosted by the KMT Australia Branch

    Source: Republic Of China Taiwan 2

    Director General David Cheng-Wei Wu and Mrs. Wu, along with colleagues, attended the Lunar New Year gathering and birthday celebration organized by the KMT Australia Branch.
    In addition to offering New Year greetings and wishing all attendees good fortune for the Year of the Snake, DG Wu took the opportunity to express his gratitude for the full-page advertisement published by the branch for the New Year’s Day flag-raising ceremony. He hoped that the branch would continue to firmly support the government of Republic of China (Taiwan) and TECO in Sydney.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu Celebrates 2025 Lunar New Year with Ryde City in Eastwood

    Source: Republic Of China Taiwan 2

    The 2025 Lunar New Year Festival at Eastwood Oval, hosted by the City of Ryde, was a great success. Thousands gathered at Eastwood Oval to enjoy the spectacular dragon dance and high-pole lion dance.Director General David Cheng-Wei Wu was honoured to join the Grand Opening and Lion Eye-Dotting Ceremony alongside Mayor Trenton Brown, Prime Minister Anthony Albanese, NSW Premier Chris Minns, NSW Opposition Leader Mark Speakman, and VIPs from Federal and NSW Parliaments, Ryde City Council, academia, the cultural industry, and the NSW Consular Corps.
    PM Albanese emphasized that “people” are Australia’s most valuable asset. He highlighted that Australia’s diverse communities are not only the backbone of society and co-authors of the Australian story but also play a key role in connecting Australia to the world, strengthening its international image and influence.
    Mayor Trenton Brown and NSW Premier Chris Minns expressed their gratitude to communities of all ethnic and cultural backgrounds for their contributions. They recognized the energy and vibrancy these communities bring to the economy and how they embody Australia’s spirit of diversity and inclusivity.
    The Taiwanese community once again seized the opportunity to showcase Taiwan’s unique cultural traditions. We were proud to see the Taiwanese Indigenous group “Formosa”, in collaboration with DCS International of NSW and Australia, deliver a stunning performance that earned resounding applause.

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: World Health Organization (WHO) Donates Essential Medical Equipment to Combat Marburg Outbreak in Tanzania

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

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    In the face of the ongoing Marburg Virus Disease (MVD) outbreak in Kagera, Tanzania, frontline health workers and local communities have received vital support from the World Health Organization (WHO) and partners through the provision of over 3 tons of essential medical supplies, including Viral Hemorrhagic Fever (VHF) kits, ultrasound machines, blood pressure cuffs, pulse oximeters, and equipment worth 30,000USD to help care for ill patients.

    The kits, containing essential medical supplies, are part of an effort to bolster the response efforts of frontline healthcare workers. Each kit includes vital items to protect health workers and effectively treat those affected by the disease.

    For Dr Noel Saitoti, the team lead for frontline health workers at the treatment centre, the donation is seen as a crucial step in managing the crisis. “This equipment will significantly improve our ability to care for the critically ill,” Dr. Saitoti said. “The support from WHO and partners has been invaluable in ensuring that we have the tools and resources necessary to save lives and protect our healthcare teams.”

    In addition to the donated supplies, WHO and partners have been providing ongoing technical, logistical, and operational assistance. This includes case management expertise, setting up treatment and isolation centres, intensive surveillance, coordination, and Risk Communication and community engagement. WHO has also provided trainings for healthcare and Community health workers, to ensure the outbreak is contained and the health system remains resilient.

    Dr Charles Sagoe Moses, WHO’s Representative to Tanzania, commended the collective efforts in tackling the outbreak. He stated, “Since the declaration of this outbreak by President Samia Suluhu Hassan and WHO’s Director General Dr. Tedros, we have seen exceptional collaboration and coordination across all sectors to fight this deadly virus,”said Dr Charles Sagoe-Moses. We believe that with these resources, alongside your leadership and the tireless efforts of healthcare workers, we can strengthen our response capacity and ultimately save more lives.”

    Similarly, Dr. Godwin Mollel, the Deputy Minister of Health, who received the medical items, expressed gratitude to WHO and partners for the ongoing support to curb the spread of the virus and end it in an opportune time. 

    He encouraged, “Collaboration, coordination, and community engagement are essential to curtailing the spread of MVD and ensuring long-term health security”.

    The collaboration between the Government of Tanzania, WHO, and other partners continues to be pivotal in the response to the Marburg outbreak. As the situation evolves, the commitment to effective case management, collaborative surveillance, coordination, and community engagement remains key to curbing the spread of MVD and ensuring the long-term health security of Tanzania’s citizens.

    Distributed by APO Group on behalf of World Health Organization – United Republic of Tanzania.

    MIL OSI Africa –

  • MIL-OSI Africa: International Monetary Fund (IMF) Staff Completes 2025 Article IV Consultation with Morocco

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

    RABAT, Morocco, February 11, 2025/APO Group/ —

    • Economic growth is accelerating thanks to strong domestic demand, amid a new investment cycle in many sectors.
    • Tax reforms have allowed the fiscal deficit in 2024 to be lower than expected while also funding spending measures. Going forward, saving part of the revenue windfall would help strengthen the fiscal buffers. The current monetary policy stance is appropriate and should remain data dependent.
    • Structural reforms should focus on strengthening job creation, including by better targeting active labor market polices, consolidating programs to support small and medium firms, and removing regulatory distortions that hinder firms’ growth.

    An International Monetary Fund (IMF) staff team led by Roberto Cardarelli conducted discussions with the Moroccan authorities in Rabat on the 2025 Article IV Consultation from January 27 to February 7. At the conclusion of the visit, Mr. Cardarelli issued the following statement:

    “Economic activity is expected to have grown by 3.2 percent in 2024 and to accelerate to 3.9 percent in 2025, as agricultural output rebounds after the recent droughts and the nonagricultural sector continues to expand at a robust pace amid strong domestic demand. Higher growth is expected to increase the current account deficit towards its estimated medium-term norm of around 3 percent, while inflation is expected to stabilize at around 2 percent. The risks to the outlook are broadly balanced, with significant uncertainty regarding the economic impact of geopolitical tensions and changing climate conditions.

    “With inflation expectations anchored around 2 percent and little signs of demand pressures, the current broadly neutral monetary policy stance is appropriate, and staff agrees with Bank Al-Maghrib that future changes of policy rates should remain data dependent. With inflation back to around 2 percent, Bank Al-Maghrib should continue its preparation to adopt an inflation-targeting framework.”

    “Recent reforms to the tax system and tax administration have helped expand the tax base while lowering the tax burden. As a result, tax revenues in 2024 have been greater than expected. With only a small part of the additional tax revenues being saved, the central government’s deficit for the year was 4.1 percent of GDP compared to the 4.3 announced in the 2024 Budget. While the 2025 Budget confirms the gradual pace of fiscal adjustment projected last year, higher-than-expected revenues should be used to accelerate the pace of debt reduction to levels closer to pre-pandemic. In addition, continuing to finance structural reforms may require further efforts to expand the tax base and rationalize spending, including by reducing transfers to state-owned enterprises as part of the ongoing reform of the sector and expanding the use of the Unified Social Registry to all social programs.

    “Staff welcomes the ongoing reform of the Organic Budget Law that should introduce a new fiscal rule based on a medium-term debt anchor. Good progress has been made in the Medium-Term fiscal framework to include an assessment of the risk from climate change. Staff encourages the authorities to build on this progress by adding more information on the impact of new policy measures and a quantification of the risks from the increased reliance on public-private partnership (PPP) projects.

     “Stronger job creation requires a novel approach to active labor market policies, focusing on labor displaced from the agricultural sector due to the sequence of droughts. A special focus should be placed on encouraging the growth of small and medium size enterprises (SME)  and favoring their integration into sectoral value chains. Staff welcomes the progress in the operationalization of the Mohammed VI Investment Fund that should help SMEs access equity financing. Measures that may encourage the development of a more buoyant private sector include strengthening the support for SMEs under the new Charter of Investment, strengthening regional investment centers so they can better help SMEs access the financial and technical resources needed for their growth, and reviewing the labor code, tax system, and regulatory and governance frameworks so as remove the distortion that incentivize firms to remain small or informal. It will also be necessary that the ongoing SOE reform effectively pursues market neutrality between public and private sector firms.

    “The IMF team held discussions with senior officials of the government of Morocco, Bank Al-Maghrib, and representatives of the public and private sectors. The team thanks the Moroccan authorities and other stakeholders for their hospitality and candid and productive discussions.”

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Manchester’s First Street Hub reaches completion milestone

    Source: United Kingdom – Executive Government & Departments

    A new state-of-the-art government office building in Manchester’s city centre has hit a key stage in its construction.

    A new state-of-the-art government office building in Manchester’s city centre has hit a key stage in its construction.

    The Government Property Agency (GPA) has confirmed it has accepted the handover of its new hub in First Street after the building reached practical completion of its Category A (Cat A) fit out and lease commencement. Works were completed by BAM Construct UK appointed by developer Ask Real Estate.

    This latest milestone continues the countdown to ready for service, with the nine-storey circa 12,000 square metre building now ready for the internal fit-out to commence.

    Once complete the hub will accommodate around 2,600 civil servants from departments including the Ministry for Housing, Communities and Local Government (MHCLG), the Department for Business and Trade (DBT), the Office for Standards in Education (OFSTED), and the Department for Education (DfE). It is expected that more than 150 roles will be relocated to Manchester from across several different government departments and agencies once the hub is operational.  

    The building forms part of the Government Hubs Programme supporting economic growth across the UK. The programme is rationalising the government’s estate in towns and cities across the UK, playing a pivotal role in delivering modern, customer-focused and varied workspaces where civil servants can thrive. The design recognises that different types of work require different spaces to enable collaboration, creativity and community regardless of how people choose to work.

    Parliamentary Secretary for the Cabinet Office, Georgia Gould, said:

    It’s great to see the Manchester First Street Hub move onto this next stage of construction.

    UK Government Hubs across the country help to consolidate our estate. Not only cutting waste by removing old inefficient buildings from our portfolio, but also giving people across the country the chance to work in the Civil Service, and driving economic growth in the local area.

    Georgina Dunn, the GPA’s Interim Director of Capital Projects, said:

    It’s very gratifying to reach this significant stage in the programme. This new state-of-the-art office will provide a home for civil servants from across the government in Manchester, making it one of the largest hubs for cross-departmental collaboration and operation outside London. The GPA remains immensely proud of the industry-leading sustainability, accessibility and workplace standards delivered by the Government Hubs Programme.

    A competitive tender process for the subsequent fit-out works has completed with the GPA due to make an announcement in the next few weeks.

    John Hughes, Managing Director at Ask Real Estate said:

    Bringing the GPA hub to practical completion is a huge testament to our commitment to driving sustainability in the workplace sector. Achieving a NABERS 5.5 Design for Performance rating – the first building in Manchester City Centre to reach this milestone – supports the high ambitions set by HM Government.

    First Street and its extended neighbourhood will be boosted significantly when the GPA takes occupation.

    The £105m development was forward-funded by Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension funds, which will use the secure, long-dated and index-linked cashflows to pay the pensions of its policyholders over the coming decades.

    James Agar, Head of Real Estate Origination at PIC, added:

    We are delighted to have reached practical completion on such an important project for PIC. The First Street hub is a great example of what can be achieved through public private partnerships.

    The sustainability and ESG focus of this best-in-class building are clear to see, these were a key element of our investment case for the asset which will help us to pay the pensions of our policy holders.

    The building deepens our relationship with the GPA and will assist the UK Government in delivering the transition to Net Zero. We look forward to the GPA taking formal occupation of the building and welcoming more than 2,500 civil servants to the site.

    The First Street Hub is in the heart of Manchester and a few minutes’ walk from Oxford Road and Deansgate rail stations. It has been designed to be class-leading, meeting inclusive and accessible design standards.

    Lead developer Ask Real Estate and its joint venture partner, Richardson, secured a full pre-let of the Grade A BREEAM Excellent office building to the GPA which then signed a lease with building owners PIC in 2022.

    For more information contact the GPA’s comms team: comms@gpa.gov.uk

    Updates to this page

    Published 11 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Happy International Day of Women and Girls in Science!

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    We recently celebrated Russian Science Day and three days later we are returning to this topic again, but with a different holiday – International Day of Women and Girls in Science.

    The United Nations is celebrating the 10th anniversary of the day this year and the 30th anniversary of the Beijing Declaration affirming the full realization of the human rights of women and girls as an integral, indivisible part of universal human rights and fundamental freedoms. The theme for this year’s day is “Opening Careers in Science, Technology, Engineering and Mathematics (STEM): Her Voice in Science.”

    Women scientists have been known for quite a long time: the ancient Egyptian physician Peseshet, the ancient Greek female astronomer Aglaonica, Hypatia of Alexandria – a philosopher, mathematician and mechanic. During the Age of Enlightenment, the role of the fair half of humanity in science expanded significantly, but this was not considered the norm at all. In the 19th century, most of the most prominent female scientists were Russian women. The most famous of them was Sofia Kovalevskaya – the world’s first female doctor of mathematical sciences and university professor. But let’s also remember Nadezhda Suslova – the first in the world to receive a doctorate in medicine, Yulia Lermontova – the first doctor of chemistry, Maria Sechenova with two doctorates, in medicine and physiology. Of course, everyone knows the first woman to receive the Nobel Prize – Maria Sklodowska-Curie. Moreover, she also became the first person in the world to receive two Nobel Prizes. After her, only four scientists managed to do the same. Incidentally, Marie’s daughter, Irene Joliot-Curie, became the first Nobel Prize laureate, being the child of previous laureates.

    The last century has finally equalized the rights of men and women. Nevertheless, according to the UN, only 30% of scientists worldwide are women. Girls still make up only 28% of engineering graduates. But in the field of computer science and information technology, their number is already 40%. Therefore, it is quite possible that the day is not far off when absolute gender balance will be achieved in science.

    The State University of Management congratulates its wonderful women and girls-scientists on the holiday. We wish you rapid advancement in the research areas you have chosen, victories in scientific competitions, capitalization of your intellect, as well as professional and personal happiness. Let each of you always remember that for someone you are a real sun – a vital necessity, and all together you are a whole constellation for the State University of Management – bright, attractive and mysterious.

    Subscribe to the TG channel “Our GUU” Date of publication: 02/11/2025

    отметили День российской науки и спустя три дня вновь возвращаемся к этой теме, но уже с другим праздником – Международным днём женщин и девочек в науке….” data-yashareImage=”https://guu.ru/wp-content/uploads/День-женщин-в-науке.jpg” data-yashareLink=”https://guu.ru/%d0%bf%d0%be%d0%b7%d0%b4%d1%80%d0%b0%d0%b2%d0%bb%d1%8f%d0%b5%d0%bc-%d1%81-%d0%bc%d0%b5%d0%b6%d0%b4%d1%83%d0%bd%d0%b0%d1%80%d0%be%d0%b4%d0%bd%d1%8b%d0%bc-%d0%b4%d0%bd%d1%91%d0%bc-%d0%b6%d0%b5%d0%bd/”>

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Dialogue between science and government

    Translartion. Region: Russians Fedetion –

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

    A working meeting of representatives of regional executive authorities with a delegation of the Association of Innovative Regions of Russia (AIRR) was held in the Government of St. Petersburg. The event was dedicated to discussing issues of developing intellectual property, innovation and support for high-tech projects in the regions.

    Key government and business representatives addressed the participants with welcoming remarks. Deputy Chairman of the Committee for Industrial Policy, Innovation and Trade of St. Petersburg Dmitry Prozherin emphasized the importance of developing innovative infrastructure and protecting intellectual property for the region’s economic growth. Deputy of the Legislative Assembly of St. Petersburg, Chairman of the specialized commission on investments and the city branch of “Business Russia” Dmitry Panov noted the need to create favorable conditions for investment and the introduction of new technologies.

    Head of the Center for Strategic Communications of the Federal State Budgetary Institution “Federal Institute of Industrial Property” Daria Shipitsyna spoke about measures of state support in the field of intellectual property.

    Head of the regional direction of AIRR Dmitry Mitroshin gave a report on the development of the intellectual property system at the regional and federal levels. He emphasized the importance of integrating efforts to create a unified strategy in this area. Representatives of various regions of Russia shared their experience in intellectual property management, as well as successful cases of implementing innovative solutions.

    Of particular interest was the speech by the director of the SPbPU Center for Intellectual Property and Technology Transfer Ismail Kadiev. He proposed creating a regional center for intellectual property and technology transfer, which would become a platform for interaction between science, business and government. The initiative was supported and enshrined in the final document of the meeting.

    Natalia Petrova, Chairperson of the Board of the Intellectual Property Development Fund and CEO of the Patent and Legal Firm NEVA-PATENT LLC, spoke about the implementation of effective mechanisms for regulating intellectual property in the country’s regions. She noted that competent management of intellectual assets helps to increase the competitiveness of regions and attract investment.

    The delegation visited the innovation infrastructure facilities of St. Petersburg, including JSC Technopark of St. Petersburg. The participants familiarized themselves with the work of the Prototyping Center, the regional engineering center for electronic instrumentation, the laboratory of the regional engineering center for active pharmaceutical substances (RIC APS), and the demonstration site of Russian vendors.

    The event was an important step in strengthening cooperation between regions and federal structures in the field of intellectual property and innovation. Participants expressed confidence that such initiatives will contribute to the development of high-tech industries and increase the competitiveness of the Russian economy.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: NSU hosted the first YADRO Winter School “Programming for RISC-V”

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    The winter school began long before the in-person stage — with a course of lectures on RISC-V architecture. Throughout January, students who passed the selection listened to lectures from professionals in an online format. After the lecture stage, testing was conducted, in which more than 300 people from all over the country took part. Based on its results, participants were selected for the project stage, which took place in person from February 3 to 8. All of them showed a very high level of preparation.

    — We are formulating the following goals for the Winter School: on the one hand, we certainly wanted the students to have more knowledge, skills and abilities in the field of RISC-V as a promising technology and as a technology that is interesting to YADRO as a company. On the other hand, we believe that within the framework of the Winter School, students have the opportunity to acquire skills in a fairly short period of time that will be useful to them when they are selected for the summer internship “Impulse”, which will take place this year. In a broad sense, the goal is to provide technologies and prepare for selection for an internship in the company, — noted Mikhail Salamatov, Head of the Department for Development of Educational Programs at YADRO.

    At the in-person stage, NSU gathered not only students from our university, but also guests from the Siberian State University of Telecommunications and Informatics and universities of St. Petersburg. There were 15 participants in total. NSU was represented by guys from Faculty of Information Technology And Faculty of Mechanics and MathematicsNext year, there are plans to attract students from other specialized faculties of NSU.

    — Throughout the preparation stage and during the Winter School, many technical problems related to the distributed format of the Winter School were solved: the school was held simultaneously in several clusters across the country. The participants were able to offer original solutions to complex project tasks, got acquainted with the new, previously unfamiliar RISC-V architecture and gained tremendous experience in working in a team. I believe that we, as organizers, also gained a lot of experience in holding such events. I really hope that next year we will hold the Winter School at NSU with even more active participation of students from other regions, — said Alexander Vlasov, PhD in Engineering, Associate Professor, Deputy Dean of the Faculty of Information Technology for Master’s Degree, Head of the YADRO Laboratory at NSU, Director of the RISC-V Winter School.

    Over the course of 6 days, teams worked on a research project under the guidance of their mentors and then presented the results of their work. The project topics were known in advance. Participants had to choose one of the topics when registering for the Winter School. Selection for project work consisted of passing an online test, where the participant had to demonstrate that they had the knowledge necessary to complete the project they had chosen.

    NSU projects that the participants worked on:

    -Watermark Risk-B;

    -Butstrap risk-B;

    – Benchmark for a processor based on the RISC-V architecture.

    — Our team implemented the project “Watermark RISC-V” — creation of a steganography method for detecting sources of leakage of private software written in RISC-V.

    Participation in the Winter School broadened my horizons and deepened my understanding of the principles of hardware operation. I gained experience working with microcomputers based on a processor with a young and promising RISC-V architecture, which I had not encountered before.

    It is nice that the university holds events on such interesting topics. This will help students decide what they are interested in, as well as start taking the first steps in their career. The project part of the Winter School was held in a friendly, pleasant atmosphere, working on the tasks was quite exciting. I think each student gained valuable experience that will be useful in the future, – shared his impressions Zhora Babayan, a participant of the Winter School, a 4th-year student of the Faculty of Information Technology of NSU.

    — Our team’s goal was to study a miniature operating system written for x86 processors and port it to the open RISC-V architecture. There were many difficulties during the project. Among other things, we had to learn how to run at least some code on RISC-V, which took us a lot of time, and also read a couple dozen lines of code written in assembler and figure them out. There were many tasks, but little time. We managed to do some things, and had to abandon others. But I’m happy with the results!

    Apart from me, everyone on the team was from NSU. All the guys were very strong, so we easily split into groups and worked in parallel. We were also very lucky with the project curator – NSU lecturer Dmitry Valentinovich Irtegov – a man with a huge store of knowledge, who could answer any question posed.

    Participation in the Winter School was a very interesting experience for me, including because of the new location for me. Compared to St. Petersburg, Novosibirsk (or rather, Akademgorodok) has much more snow, and it is much cleaner, which was a pleasant surprise for me. There are also many more trees and much less noise and city bustle, – Alexander Sergeev, a 3rd-year student of the ITMO Faculty of Information Technology and Programming, a member of the Bootstrap RISC-V team, said about his experience of participating in the YADRO Winter School.

    All students who defended their projects were given the opportunity to continue working on them within the YADRO laboratory at NSU.

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

    MIL OSI Russia News –

  • MIL-OSI China: Beijing’s new mega exhibition center to hold first event

    Source: China State Council Information Office 2

    Beijing’s Capital International Convention and Exhibition Center will hold the 35th China International Audio Service, Products & Equipment Exhibition from Feb. 21 to 24, making it the first exhibition held in the center since its completion at the end of last year.
    The exhibition center is the largest single-building comprehensive convention and exhibition venue in Beijing, featuring the most complete range of functions. It has 210,000 square meters of indoor exhibition space and 50,000 square meters of outdoor exhibition space. 
    The venue consists of a conference center, a hotel, nine exhibition pavilions and three entry halls. The conference center covers some 15,000 square meters, capable of accommodating 9,000 attendees simultaneously.
    The auto equipment exhibition scheduled for late February will include a variety of categories, including car modifications and smart electronic products, recreational vehicles and accessories, outdoor camping products, automotive cockpit electronics and premium items, car beauty and maintenance products, auto lubricants, and car wash equipment.
    Nearly 6,000 companies are expected to participate in the exhibition and showcase over 180,000 products, including more than 5,000 brand new wares, which account for 80% of the industry’s annual new product releases. The event is anticipating attendance of 150,000 industry professionals and nearly 100,000 general attendees.
    In addition to the auto showcase, the exhibition center will stage six more major exhibitions in the first half of this year.

    MIL OSI China News –

  • MIL-OSI China: Elon Musk-led group submits $97.4B bid for OpenAI

    Source: China State Council Information Office

    A team of investors led by Elon Musk submitted a 97.4-billion-U.S.-dollar bid to buy the non-profit that controls OpenAI, the Wall Street Journal reported on Monday.

    Musk’s attorney Marc Toberoff said that he had presented the bid to OpenAI’s board of directors, according to the Journal.

    Musk co-founded OpenAI in 2015 alongside Sam Altman and others but left the company in 2018. The Musk-led team is positioning the move as an effort to refocus OpenAI on open-sourced artificial intelligence (AI).

    “It’s time for OpenAI to return to the open-source, safety-focused force for good it once was. We will make sure that happens,” Musk said in a statement on Monday.

    In November 2024, Musk’s legal team filed a motion for an injunction as part of a lawsuit against OpenAI, challenging its effort to transition from nonprofit status.

    Musk’s own AI firm, xAI, is involved in the bid, fueling speculation that a successful acquisition could lead to a merger of the two companies.

    In response to Musk’s offer, Altman wrote on the social platform X on Monday, “No thank you but we will buy Twitter for 9.74 billion dollars if you want.”

    MIL OSI China News –

  • MIL-OSI China: Traditional folk dance as cultural link

    Source: China State Council Information Office 3

    Drawn by the rhythmic beats of drums and spirited shouts, Thanita Raemee, a 20-year-old Thai exchange student, navigated through winding streets and bustling alleys until she arrived at the dynamic training grounds of the Ximen Women’s Yingge Dance Team.

    Founded in 1952, this pioneering all-female team is the first of its kind in the Chaoshan region of south China’s Guangdong Province, with members ranging from teenagers to nearly 80-year-olds. Performers come from all walks of life — spirited young girls, agile middle-aged men, and even food delivery workers dancing between shifts.

    The Yingge dance, or “dance to the hero’s song,” is a form of folk dance popular in south China’s Guangdong Province. Dating back to the Ming Dynasty (1368-1644), this traditional dance is often performed during traditional Chinese festivals. As a dynamic blend of theater, dance, and martial arts, it was listed among the first batch of national intangible cultural heritage in 2006.

    Once a traditional folk performance, Yingge dance saw a recent surge in popularity. Videos of its energetic routines have flooded social media, earning it the title of the “ultimate Chinese New Year atmosphere booster.”

    While men’s Yingge performances are inspired by the legendary “Water Margin,” one of the four great classical novels in Chinese literature, the women’s routines often draw from the tales of legendary Chinese heroines like Mu Guiying and Hua Mulan.

    Thanita watched in awe as the dancers moved in perfect unison, their forms embodying both strength and grace.

    “Incredible! How do they stay so synchronized? Compared to traditional Thai dance, this feels much more powerful and rhythmic — it’s exhilarating!” she exclaimed.

    “Most of our members are under 20, balancing their studies and work. They train purely out of passion,” said the team’s coach Wu Yanhua, who left her job as a kindergarten teacher to focus on the team’s revival in 2011.

    That passion was evident in every interaction. “My teammates take turns helping me with childcare. Yingge dance is part of my life — I even dream about it,” said a team member Zhou Yixiang while gently rocking her five-month-old baby in a stroller.

    Six-year-old Huang Kexin eagerly demonstrated snake-dance moves she had just learned, hopping and twirling with a delightful burst of playful energy. Meanwhile, 11-year-old Lin Yahan patiently taught Thanita how to grip the Yingge hammer properly, while her twin sister nodded in encouragement.

    During the recently concluded Spring Festival holiday, homestay tourism flourished across China. Shantou, a key city in Chaoshan known for its rich New Year traditions, saw bookings soar 13 times from last year. Lion dance, Yingge dance and other traditional performances have become festival favorites.

    Thanita has family roots in Chaoshan — her father is an overseas Chinese descendant. For her, Yingge dance serves as a bridge between Chinese and Thai cultures. In fact, many in Thailand are already familiar with the dance.

    In early 2023, a Thai Yingge team’s electrifying performance at a shopping mall in Thailand went viral, and later that year, the Yingge cultural exchange group from Thailand visited Chaoshan to engage with local dancers.

    This year, Yingge dance teams from Shantou have also been invited to perform on multiple overseas stages for the Spring Festival celebrations.

    Organized by the Department of Culture and Tourism of Guangdong Province, the 25-member Yingge team toured Germany and France from Jan. 28 to Feb. 4. They performed in cities like Hanau, Frankfurt, Paris, and Lyon, sharing the vibrant charm of Yingge dance.

    Studying international Chinese education at Shantou University, Thanita deeply admires the dedication and enthusiasm of Yingge performers.

    “One of my goals in coming to China was to explore the traditions my ancestors once lived by. Yingge has expanded my understanding of Chaoshan and Chinese culture while revealing the cultural ties between China and Thailand,” she said.

    MIL OSI China News –

  • MIL-OSI New Zealand: Fatal crash: Mouse Point Road, Hurunui

    Source: New Zealand Police (District News)

    Police can confirm one person has died following a crash in Hurunui this afternoon.

    The two-vehicle crash on Mouse Point Road was reported just after 4:20pm.

    The person died at the scene, no further injuries were reported.

    The road remains closed while the Serious Crash Unit conduct a scene examination.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI Europe: Press release – EP TODAY, Tuesday, 11 February

    Source: European Parliament 3

    EU response to tariff threats from the Trump administration

    From 9.00, plenary will debate with Commissioner Šefčovič and Polish Minister for EU Affairs Szłapka the current state of EU-US trade relations, multilateralism and the EU’s potential responses if the US imposes tariffs on European products.

    Eszter ZALÁN

    (+32) 477 99 20 73

    EP Trade

    Three years of Russia’s war in Ukraine

    Starting around 10.00, MEPs will assess the impact of Russia’s three-year long war against Ukraine and the EU’s unwavering support for the country, in a debate with Commissioner Kos and Polish Minister for EU Affairs Adam Szłapka. They will vote on a resolution during the March plenary session. Ruslan Stefanchuk, Chairman of the Ukrainian Verkhovna Rada, will address MEPs in a formal sitting at noon.

    Viktor ALMQVIST

    (+32) 470 88 29 42

    EP_ForeignAff

    Snjezana KOBESCAK SMODIS

    (+32) 470 96 08 19

    EP_ForeignAff

    EU’s strategy for the Middle East

    At around 15.00, MEPs will discuss the latest developments in the Middle East and a future EU strategy for the region, in a debate with Commissioner Šuica and Polish Minister for EU Affairs Szłapka.

    Snjezana KOBESCAK SMODIS

    (+32) 470 96 08 19

    EP_ForeignAff

    Viktor ALMQVIST

    (+32) 470 88 29 42

    EP_ForeignAff

    Digital Services Act/Media seminar

    Starting at 14.00, Parliament’s Press Service will organise a press seminar on “Defending Europe’s Digital Integrity: Addressing Social Media Challenges and Foreign Interference” with the participation of leading MEPs on the issue. You can follow the seminar live.

    Yasmina YAKIMOVA

    (+32) 470 88 10 60

    EP_SingleMarket

    In brief

    US restriction of chips exports to EU countries. Plenary will quiz Commission Vice-President Virkkunen on how to address the US decision to restrict the export of chips used for artificial intelligence models to certain EU member states, from around 20.00.

    Violence escalation in Congo. Parliament will assess the conflict and humanitarian crisis in the Democratic Republic of Congo (DRC) with the Council and Commission, in a debate starting around 16.00. A resolution will be put to a vote on Thursday.

    Protecting the system of international justice. In the evening, starting around 21.00, plenary will discuss defending the system of international justice and its institutions, in particular the International Criminal Court and the International Court of Justice., with Commissioner McGrath and Polish Minister for EU Affairs Szłapka.

    Health care sector. The challenges posed by a shortage of healthcare professionals across the EU, as well as the quality of jobs in the sector, will be the focus of a debate with Commission Vice-President Mînzatu in the early afternoon, immediately after the voting session.

    Anti-government unrest in Serbia. From around 17.00, MEPs will analyse with Commissioner Kos and Polish Minister for EU Affairs Szłapka the situation in Serbia, where a deadly railway station canopy collapse has sparked an anti-corruption movement and student-led protest against the government.

    Votes

    Plenary will vote at 12.00 among others on:

    • an updated fisheries agreement with Cabo Verde, and
    • Parliament’s assessment of ECB’s activities in 2024.

    Live coverage of the plenary session can be found on Parliament’s webstreaming and on EbS+.

    For detailed information on the session, please also see our newsletter.

    Find more information regarding plenary.

    MIL OSI Europe News –

  • MIL-OSI: Equinor ASA: Share buy-back – first tranche for 2025

    Source: GlobeNewswire (MIL-OSI)

    Please see below information about transactions made under the first tranche of the 2025 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).

    Date on which the tranche was announced: 5 February 2025.

    The duration of the tranche: 6 February to no later than 2 April 2025.

    Further information on the tranche can be found in the stock market announcement on its commencement dated 5 February 2025, available here: https://newsweb.oslobors.no/message/637712

    From 6 February to 7 February 2025, Equinor ASA has purchased a total of 1,200,000 own shares at an average price of NOK 266.0754 per share.

    Overview of transactions:

    Date Trading venue Aggregated daily volume (number of shares) Weighted average share price (NOK) Total transaction value (NOK)
             
    6 February OSE 600,000 269.0584 161,435,040.00
      CEUX      
      TQEX      
             
    7 February OSE 600,000 263.0924 157,855,440.00
      CEUX      
      TQEX      
             
    Total for the period OSE 1,200,000 266.0754 319,290,480.00
      CEUX      
      TQEX      
             
    Previously disclosed buy-backs under the tranche OSE      
    CEUX      
    TQEX      
    Total      
             
    Total buy-backs under the tranche (accumulated) OSE 1,200,000 266.0754 319,290,480.00
    CEUX      
    TQEX      
    Total 1,200,000 266.0754 319,290,480.00

     
    Following the completion of the above transactions, Equinor ASA owns a total of 69,743,662 own shares, corresponding to 2.50% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 62,356,027 own shares, corresponding to 2.23% of the share capital).

    This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

    Appendix: A overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.

    Contact details:

    Investor relations
    Bård Glad Pedersen, senior vice president Investor Relations,
    +47 918 01 791

    Media
    Sissel Rinde, vice president Media Relations,
    +47 412 60 584

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Adriana D Kugler: Entrepreneurship and aggregate productivity

    Source: Bank for International Settlements

    Thank you, Jon, and thank you for the opportunity to speak to you today. It is such a pleasure to be back in Miami, a city I have seen grow and become ever more dynamic over the decades, as I have come many times to visit my large extended family here ever since the 1980s.

    As I discussed in my final speech of 2024, two positive supply shocks have significantly benefited the U.S. economy over the past two years and have also affected the conduct of monetary policy.

    The first of these has been the surge in population over the past few years that has helped bring labor supply into balance with labor demand and, thus, also helped move inflation toward the Federal Open Market Committee’s (FOMC) 2 percent goal. The other positive supply shock, which I outlined in my remarks in December, has been a step-up in aggregate productivity growth since 2020, which is an increase in the amount of economic output, across the economy, per hour worked or some other unit of labor. Although productivity growth, measured quarterly, can be quite volatile, over the past five years this acceleration is quite evident. While productivity grew by about 1.5 percent a year from 2005 to 2019, starting in 2020 it has grown about 2 percent a year. This difference may not look dramatic, but because of compounding year-over-year, the consequences of an additional 1/2 percentage point in growth over the past five years are significant for workers and the U.S. economy. When workers are more productive, it effectively means that businesses can produce more without needing to add workers, and that they can pay workers more without needing to raise prices. When they are more productive, it can also serve as an incentive for businesses to expand. Across the economy, higher productivity growth means that real wages and living standards for workers can rise faster without putting upward pressure on inflation.

    And that is exactly what has been happening recently, a period when inflation has been falling while the economy is expanding. While fast growth in wages was one of the factors driving inflation in 2021 and 2022, most likely some of that increase was due to productivity growth and, hence, was not inflationary. If productivity continues to grow at an accelerated pace, it would support the FOMC’s efforts to keep unemployment low and return inflation to a sustained level of 2 percent. For that reason, I would like to spend the balance of my remarks exploring some of the possible reasons why productivity has accelerated, and the prospects that this fortunate development will continue.

    MIL OSI Economics –

  • MIL-OSI Economics: Tiff Macklem: Structural change, supply shocks and hard choices

    Source: Bank for International Settlements

    Good afternoon. I’m pleased to be able to join you virtually to talk about the challenges that lie ahead for central banks. There’s a lot to discuss.

    But my first order of business is to congratulate and thank Agustín Carstens for his leadership as General Manager of the Bank for International Settlements (BIS). Your term, Agustín, has been marked by significant global upheaval-from pandemic shutdowns to war in Europe and double-digit inflation. These past few years have not been easy.

    Through it all, you have been a source of unwavering wisdom. Your clear thinking in the face of the unknown, your long view and your deep understanding of our global interdependence-all combined with the experience and pragmatism of a former minister of finance and then central bank governor-have made you an invaluable leader.

    More than that, through the BIS, you’ve brought us together with your friendship and your ability to get directly to the heart of the issue. You’ve helped us learn from each other. And you’ve made us better together.

    I know there will be an opportunity to celebrate you in Basel as your retirement in June approaches. But I wanted to recognize your exceptional leadership in your home country. For those of us in the Americas, your special interest in our region has been deeply appreciated. Whatever you do next, I know Mexico and the Americas will be an important part. Thank you, my friend.

    Now, let me turn to the challenges ahead. We are facing a global economic landscape that has shifted in recent years, and this shift has important implications for central banks.

    As Agustín has highlighted in a series of insightful speeches, the structural tailwinds of peace, globalization and demographics are turning into headwinds-and the world looks increasingly shock-prone.

    Higher long-term interest rates, elevated sovereign debt, slower economic growth and lagging productivity make all of our economies more vulnerable. Compounding these vulnerabilities are war, rising trade protectionism and economic fragmentation. In addition, new technologies-including artificial intelligence-are set to disrupt existing industries and create new ones. And we are seeing more frequent catastrophic weather events as the impacts of climate change become more pervasive.

    As 2025 begins, we are facing new uncertainty with a shift in policy direction in the United States. President Donald Trump’s threats of new tariffs are already affecting business and household confidence, particularly in Canada and Mexico. The longer this uncertainty persists, the more it will weigh on economic activity in our countries.

    If significant broad-based tariffs are indeed imposed, they will test the resilience of our economies in the short run and reduce long-run prosperity. Tariffs mean economies work less efficiently. There will be less investment and lower productivity. That means our countries will produce less and earn less. Monetary policy can’t change that.

    What monetary policy can do is help with the short-run adjustment. But even here, monetary policy has to strike a balance. Significant, broad-based tariffs will sharply reduce demand for our exports. At the same time, a weaker exchange rate, retaliatory tariffs and supply chain disruptions will raise import prices, putting upward pressure on inflation.   

    With a single instrument-our policy interest rate-central banks can’t lean against weaker output and higher inflation at the same time. So we will need to carefully assess the downward pressure on inflation from weaker economic activity, and weigh that against the upward pressures from higher input prices and supply chain disruptions.

    Other structural headwinds pose similar challenges for monetary policy. They’ll impact both demand and supply, slowing growth while adding cost. Monetary policy cannot address these headwinds directly or offset their economic consequences.

    In a world with more structural change and more negative supply shocks, central banks will be faced with harder choices. And harder choices bring risks of public disappointment and frustration. We will face criticism about our decisions-and about how well monetary policy is seen to have worked when confronted with forces that are mostly out of our hands. We will be called ineffective or criticized for not doing enough. And some will challenge our independence.

    So, what can all of us do?

    First, we can be humble about what we don’t know, but also confident in the effectiveness of our frameworks. We didn’t get everything right through the pandemic. And elevated inflation and higher interest rates have been difficult for our citizens. But in Canada, as in many other countries, inflation has come down. And we restored low inflation without causing a recession or major job losses.

    Guided by our frameworks, we can maintain confidence in price stability.

    Second, we can be just as clear about what monetary policy cannot do. There will always be forces beyond our influence, and while we need to understand those forces, we should also be clear that understanding is not the same as controlling. And we need to avoid the temptation to overload monetary policy by expecting more of it than it can deliver.

    Third, we can recognize that the world has changed. Structural headwinds and supply shocks require different types of information and analysis. This means investing in richer information about the supply side of the economy and building models that can analyze sectoral shocks and their transmission. It means reaching out and listening to households and businesses. It means looking at our economies through different lenses, regularly challenging our assumptions, and using scenarios to help manage uncertainty.

    Fourth, let’s acknowledge that working together has never been easy and it’s getting harder. But let’s also remember that it’s important. We are more effective if we confront our shared challenges together. The shared resolve of central banks to fight the post-pandemic surge in inflation helped all of us bring inflation down. This was a positive international spillover and, together, we can generate other positive international spillovers.

    Finally, we need to remain evidence-based, technocratic and professional, and free of political influence. We need to be open, accountable and transparent. And we need to be learning institutions-when faced with valid criticism, we should critically evaluate our policy actions and be willing to improve. Being independent and accountable and continuously learning is how we build trust.

    The world is a tougher place today than it was a few short years ago. And facing the headwinds before us will not be easy. But that’s why we have independent central banks-we are designed for tough times.

    I look forward to hearing from my esteemed colleagues on this panel.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN receives delegation of Australian Senior Media Editors

    Source: ASEAN

    At the ASEAN Headquarters/ASEAN Secretariat today, Secretary-General of ASEAN, Dr. Kao Kim Hourn, received a group of senior media editors from Australia. SG Dr. Kao shared his views on the contributions of ASEAN-Australia Comprehensive Strategic Partnership to the ASEAN’s community-building efforts and underscored the important role of media in encouraging greater cooperation between ASEAN and Australia, especially in the areas of trade, investment, tourism and connectivity, among others. The delegation is currently visiting Indonesia as part of the Senior Editors Program, a flagship programme of the Australia-Indonesia Institute.

    The post Secretary-General of ASEAN receives delegation of Australian Senior Media Editors appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with new Executive Director of the ASEAN Centre for Energy

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today received a courtesy call from the new Executive Director of the ASEAN Centre for Energy (ACE), Dato’ Ir. Ts. Abdul Razib Dawood, at the ASEAN Headquarters/ASEAN Secretariat. During their meeting, they discussed, among others, advancing regional energy security, sustainability, and key priorities under the ASEAN Plan of Action for Energy Cooperation (APAEC), including the ASEAN Power Grid and the clean energy transition.

    The post Secretary-General of ASEAN meets with new Executive Director of the ASEAN Centre for Energy appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Applications invited for special UK visa route

    Source: United Kingdom – Executive Government & Departments

    The UK-India Young Professionals Scheme (YPS) 2025 ballot will open next week.

    The UK-India Young Professionals Scheme (YPS) 2025 ballot will open next week. This bespoke visa scheme offers Brits and Indians the unique opportunity to live, study, travel, and work in the other country for up to two years.

    Indian nationals aged 18 to 30 must enter the ballot on gov.uk to be considered for one of the 3,000 spots available under the scheme. The ballot is scheduled to open on 18 February and close on 20 February. Applicants do not need to pay to enter the ballot, and successful entries will be picked at random.

    Applicants must be at least 18 years old on the date they plan to travel to the UK. They must also have a qualification at UK bachelor’s degree level or above and have proof of £2,530 in savings to support themselves in the UK. Applicants should ensure they meet all eligibility requirements before entering the ballot.

    Lindy Cameron, British High Commissioner to India, said:

    The Young Professionals Scheme is an excellent programme which helps build a modern understanding of our countries among Brits and Indians alike. I strongly encourage people from all corners of the country to apply – from Itanagar to Coimbatore, from Leh to Surat, and from Bhubaneshwar to Indore.

    Further information

    • launched in February 2023, the UK-India Young Professionals Scheme (YPS) is a bespoke, reciprocal scheme under which UK and Indian nationals who are aged 18 to 30 can live, study, travel and work in the other country for up two years. The opening of the ballot will be announced on GOV.UK. See eligibility conditions for entering the YPS ballot

    • the YPS ballot for Indian nationals wanting to travel to the UK is free to enter. Those selected from the ballot will be notified via email within two weeks of the ballot closing and will be invited to apply for the visa. They will then have 90 days from the date of the email informing them of their success in the ballot to make an application to the UK Home Office via the online application form, provide their biometrics and pay all associated fees, including the visa application fee and immigration health surcharge

    • selected applicants must mandatorily return to India after completing two years in the UK under this scheme

    • there were over 2,100 YPS visas issued to Indian nationals in the year ending December 2023

    • all UK visa customers should beware of visa agents or any such agencies that promise a visa under this scheme by paying money. See guidance on protecting yourself from any kind of visa and immigration fraud

    • official guidance for Brits looking to travel to India under the scheme can be found on the website of the High Commission of India in London

    Media

    For media queries, contact:

    David Russell, Communications Counsellor and Spokesperson,
    British High Commission, Chanakyapuri,
    New Delhi 110021. Tel: 24192100

    Media queries: BHCMediaDelhi@fcdo.gov.uk

    Follow us on Twitter, Facebook, Instagram, Flickr, Youtube and LinkedIn

    Updates to this page

    Published 11 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Secretary-General on the situation in Gaza

    Source: United Nations – English

    e must avoid at all costs the resumption of hostilities in Gaza that would lead to an immense tragedy.
     
    I appeal to Hamas to proceed with the planned liberation of hostages next Saturday.
     
    Both sides must fully abide by their commitments in the cease-fire agreement and resume serious negotiations in Doha for the second phase.
     
    António Guterres
     

    MIL OSI Africa –

  • MIL-OSI Africa: Secretary-General’s message on the International Day of Women and Girls in Science [scroll down for French version]

    Source: United Nations – English

    en years ago, the first International Day of Women and Girls in Science recognized a fundamental truth: women’s participation is essential for building a better world through science and technology. I saw that enormous potential firsthand when I was teaching engineering, and I saw the remarkable talent, creativity, and determination of countless women scientists.

    Yet today, women still represent just one-third of the global scientific community. Deprived of adequate funding, publishing opportunities and leadership positions in universities, women and girls continue to face an uphill battle in building careers in science, technology, engineering and math (STEM).

    Look no further than the development of new digital technologies. Men dominate the field at every level—including in Artificial Intelligence. The result is a surge of biased algorithms and embedded inequality, risking a new era of digital chauvinism.

    The more that women are excluded from STEM, the more we limit our collective power to address urgent global challenges, from climate change and food security to public health and technological transformation.

    We can and must do more to level the playing field

    By expanding scholarships, internships and mentorship opportunities to open doors for women and girls in STEM; creating workplaces that attract, retain and advance women in science; encouraging girls’ engagement in STEM from an early age; championing women leaders in science through the media; and dismantling gender stereotypes.

    The Pact for the Future, agreed last September by Member States, gives renewed momentum to these goals by committing to address barriers preventing the full, equal and meaningful access for women and girls in scientific fields.  

    On the tenth anniversary of this important day, and as we reflect on 30 years since the Beijing Declaration, let’s help pave a path to STEM careers that women and girls deserve – and our world needs.

    ***
    Il y a dix ans, la première Journée internationale des femmes et des filles de science consacrait une vérité fondamentale : la participation des femmes est essentielle pour bâtir un monde meilleur grâce à la science et à la technologie. J’ai pu constater par moi-même l’incroyable potentiel des femmes lorsque j’enseignais l’ingénierie, et j’ai vu le talent, la créativité et la détermination remarquables d’innombrables femmes de science.

    Or, à l’heure actuelle, les femmes ne représentent qu’un tiers des scientifiques dans le monde. Privées de financements adéquats, de possibilités de publication et de postes de direction dans les universités, les femmes et les filles ont encore d’innombrables obstacles à surmonter pour faire carrière dans le domaine des sciences, de la technologie, de l’ingénierie et des mathématiques (STIM).

    Pour s’en convaincre, il suffit d’observer le développement des nouvelles technologies numériques. Les hommes dominent le secteur à tous les niveaux, notamment dans l’intelligence artificielle. Il en résulte un déferlement d’algorithmes biaisés qui perpétuent des inégalités bien ancrées et risquent d’ouvrir une nouvelle ère de machisme numérique.

    Plus les femmes sont exclues des STIM, plus nous limitons notre capacité collective de relever les défis urgents qui se posent dans le monde, qu’il s’agisse des changements climatiques, de la sécurité alimentaire, de la santé publique ou de la transformation technologique.

    Nous pouvons et devons en faire plus pour que les femmes aient véritablement les mêmes chances que les hommes :

    Il nous faut élargir les programmes de bourses d’études, de stage et de mentorat afin d’ouvrir aux femmes la porte des STIM ; créer dans ce secteur des lieux de travail qui attirent et retiennent les femmes et dans lesquels elles peuvent progresser ; encourager les filles à s’engager sur la voie des STIM dès leur plus jeune âge ; promouvoir, dans les médias, le leadership des femmes dans le domaine de la science ; venir à bout des stéréotypes de genre.

    Le Pacte pour l’avenir, adopté par les États Membres en septembre dernier, crée une nouvelle dynamique pour la réalisation de ces objectifs. En effet, les États Membres s’y sont engagés à lever les obstacles qui empêchent les femmes et les filles d’accéder pleinement et véritablement, dans des conditions d’égalité, aux filières scientifiques.

    En ce jour où nous célébrons, pour la dixième année, cette importante journée, et alors que nous réfléchissons aux 30 années qui se sont écoulées depuis l’adoption de la Déclaration de Beijing, agissons pour que les femmes et les filles puissent mener, dans le domaine des STIM, les carrières qu’elles méritent – et dont le monde a besoin.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Capacity Market auction parameters: letter from DESNZ to NESO, February 2025

    Source: United Kingdom – Executive Government & Departments

    Letter confirming adjustments to the parameters for the Capacity Market auctions for delivery years 2025 to 2026 and 2028 to 2029.

    Documents

    Capacity Market auction parameters: letter from DESNZ to NESO, February 2025

    PDF, 133 KB, 1 page

    Final auction parameters, T-1 and T-4 Capacity Market auctions

    HTML

    Details

    Letter from the Secretary of State to National Energy System Operator (NESO) setting out adjustments to: 

    • the one-year ahead (T-1) auction for the delivery year 2025 to 2026 

    • the four-year ahead (T-4) auction for the delivery year 2028 to 2029 

    and table setting out final auction parameters for the T-1 and T-4 auctions.

    Updates to this page

    Published 11 February 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Yuri Trutnev visited industrial enterprises of Komsomolsk-on-Amur

    Translartion. Region: Russians Fedetion –

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

    Yuri Trutnev visited industrial enterprises of Komsomolsk-on-Amur

    February 11, 2025

    Yuri Trutnev visited industrial enterprises of Komsomolsk-on-Amur

    February 11, 2025

    Yuri Trutnev visited industrial enterprises of Komsomolsk-on-Amur

    February 11, 2025

    Previous news Next news

    Yuri Trutnev visited industrial enterprises of Komsomolsk-on-Amur

    As part of his working visit to Khabarovsk Krai, Deputy Prime Minister and Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev visited the enterprises of PJSC UAC in Komsomolsk-on-Amur – the Komsomolsk-on-Amur Aviation Plant named after Yuri Gagarin (KnAAZ) and the production center of PJSC Yakovlev, where the Superjet-100 is assembled, and also visited the investment site for the production of the Baikal aircraft and got acquainted with the work of the Amur Shipbuilding Plant of USC. The Deputy Prime Minister was accompanied on his trip by the Governor of Khabarovsk Krai Dmitry Demeshin.

    At KnAAZ, Yuri Trutnev inspected a new titanium alloy processing shop, an assembly line, including a final assembly shop for Su-35S and Su-57 aircraft, and the construction of new flight test station facilities. The implementation of the project to build facilities and new industrial capacities at KnAAZ are necessary to increase the serial production of fifth-generation aircraft. The Deputy Prime Minister was shown areas where work is being carried out within the framework of cooperation: on the import-substituting Superjet-100 and MS-21.

    In the technocomplex of the production center of PAO Yakovlev, Yuri Trutnev was shown the first line in Russia for the production of doors for the import-substituted version of the Superjet – previously, these units were manufactured abroad. Doors manufactured on the new line meet the most modern aviation safety standards. A specialization center for the production of doors for other Russian civil aircraft is being created on the basis of the technocomplex.

    In the final assembly shop, the director of the production center Andrey Soynov spoke about the current work and prospects of the enterprise. The center, which employs more than 1 thousand people, is preparing for the serial production of fully import-substituted Superjet-100 aircraft. The production modernization program provides for the expansion of the final assembly shop to organize a straight-through conveyor and the construction of a new hangar for the flight test station. The production capacity of the updated enterprise will be at least 20 Superjet-100 aircraft per year.

    “The supply of domestic aircraft for air transportation in the Far East is our priority task. We, like no one else, understand the need to connect the cities of our region. The Yakovlev company has already concluded an agreement on the supply of Superjets to the Aurora airline, and we will make every effort to fulfill this order,” Andrey Soynov emphasized.

    As part of his trip to Komsomolsk-on-Amur, Yuri Trutnev visited an investment site being created for a comprehensive center for the development of regional and unmanned aviation production and the production of the Baikal light multipurpose aircraft. The construction of a production building for the assembly of the Baikal aircraft with the necessary engineering infrastructure is being carried out on the advanced development area in close proximity to the Dzyomgi airfield and the facilities of the United Aircraft Corporation (UAC). Work on the site is scheduled to be completed by the end of 2025. Construction of facilities for the production of the Baikal light aircraft began in January 2024. The project is being implemented on the instructions of President of the country Vladimir Putin and as part of the long-term development plan for Komsomolsk-on-Amur, the activities of which are included in the city’s master plan. Currently, the zero cycle work on the formation of the land plot is being completed, and the pouring of foundations continues. The total area of buildings and structures will be almost 10.4 thousand square meters. m. The complex will produce up to 20 aircraft per year. 80 jobs will be created.

    The developer of the Baikal aircraft is the Ural Works of Civil Aviation (UZGA). The aircraft will be manufactured by UZGA subsidiary Spetsaviatekhnika LLC, a resident of the Khabarovsk priority development area. It is planned that Baikal will be equipped with a domestic VK-800 engine. This aircraft is being created to improve the transport accessibility of remote regions of Russia and to develop local air routes. The key parameters of the aircraft were determined in accordance with the requirements of regional airlines: 2 tons of payload, flight range of 1.5 thousand km, cruising speed of 300 km/h.

    Yuri Trutnev also got acquainted with the work of the Amur Shipyard of USC, one of the largest shipbuilding enterprises in the Far East. During the inspection, the Deputy Prime Minister visited the slipway shop. The management of the enterprise reported on the orders under construction and prospective orders. The Deputy Prime Minister got acquainted with the progress of construction of the new dock-pontoon “Amurets” of project 65911, which is being built for the plant’s own needs as part of the USC dock program.

    The dock-pontoon was laid down in June 2023. Its main purpose is to ensure the removal of factory orders from the workshop and their transfer to the outfitting pier. The company has completed a large amount of work on the construction. On the dock-pontoon, the hull of which is currently being assembled on an open slipway, the assembly joints of the first three blocks have been thoroughly welded and presented to the register, and all assembly work on the fourth has been completed. In March, when the average daily temperature rises to normal, welding work on the dock-pontoon will resume, and the docking of the order hull will continue.

    The plant’s production program includes the construction of a floating transport dock for the transfer of plant orders to the outfitting base in Vladivostok and the reconstruction of the dockside unit of the plant’s outfitting complex. This will allow the enterprise to build a promising line of ships and vessels of greater width and tonnage than is currently possible, and to transport orders to the delivery base in Primorye using its own resources.

    Yuri Trutnev discussed with the General Director of the Amur Shipyard of USC Mikhail Borovsky the issues of the enterprise’s workload in terms of placing orders on the Amur Shipyard’s slipways for the development and maintenance of the oil and gas shelf – supply vessels and ice-class rescue vessels. The plant already has experience in building such orders: in 2018 and 2020, the plant built and handed over to the customer (OOO Gazprom Flot) two supply vessels for work with semi-submersible floating units. The built vessels belong to the highest class of automation and are capable of performing a wide range of tasks – from transporting goods and people to eliminating the consequences of natural disasters and extinguishing fires.

    At the commissioning base of the Amur Shipyard of USC, work is underway to prepare for testing the multifunctional emergency rescue vessel with a capacity of 7 MW, the Kerch Strait, which is being built to operate in high latitudes and has a sufficient margin of safety for sailing in freezing non-Arctic seas.

    “I always come to Komsomolsk-on-Amur with pleasure, because it is a working city. This is a city that protects our country. In this city, wonderful fighters are created, ships are built. We see how the work of the Amur Shipyard has changed. Previously, the enterprise had unresolved issues. And now, when the CEO reports that the enterprise is fully paying off its debts, that it is fully loaded with orders, this is, of course, great. This is good for Khabarovsk Krai, and for Komsomolsk-on-Amur, and for our entire country. The aircraft plant is fully loaded. Much remains to be done for small and large aviation. Work is going well on the Superjet-100 and fighters. We do not forget that we have debts to people for the construction of social facilities in Komsomolsk-on-Amur. And work in this direction will be accelerated. Now I have given a number of instructions and expect that the pace of work will be increased. The administration made a number of mistakes, including in the selection of contractors, but these miscalculations are of no interest to anyone. The main thing is that people get what they expect. We are trying to do this,” Yuri Trutnev summed up the results of his trip to Komsomolsk-on-Amur.

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

    MIL OSI Russia News –

  • MIL-OSI: International Petroleum Corporation Announces 2024 Year-End Financial and Operational Results and 2025 Budget, Reserves and Guidance

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 11, 2025 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2024. IPC is also pleased to announce its 2025 budget, including that IPC continues to progress the development of the Blackrod Phase 1 project in Canada in line with schedule and budget. IPC previously announced the renewal of the normal course issuer bid (NCIB) under which IPC may acquire a further 5.3 million common shares up to December 2025, in addition to the 2.2 million common shares already purchased for cancellation under the NCIB in December 2024 and January 2025. IPC’s 2025 capital and decommissioning expenditure budget is USD 320 million and its 2025 average daily production guidance is between 43,000 and 45,000 barrels of oil equivalent (boe) per day (boepd). 2024 year-end proved plus probable (2P) reserves are 493 million boe (MMboe) and best estimate contingent resources (unrisked) are 1,107 MMboe.(1)(2)

    William Lundin, IPC’s President and Chief Executive Officer, comments: “We are very pleased to announce that IPC achieved strong operational results in 2024. Our average net production was 47,400 boepd for the full year, with very strong operational and ESG performance across all our areas of operation. 2024 was a very significant investment year for our Blackrod Phase 1 development project, and we have spent over two-thirds of the forecast capital expenditure by the end of 2024. We generated strong cash flows from our business, and we returned USD 102 million to shareholders through share buybacks in 2024. With gross cash resources of USD 247 million at 2024 year-end, we continue to be well positioned to deliver on our three strategic pillars of Organic Growth, Stakeholder Returns, and M&A that drive value creation for our stakeholders.(1)(3)

    On Organic Growth, we are very pleased with the progress of the development of Phase 1 of the Blackrod project, Canada, which remains in line with schedule and budget. Phase 1 of the Blackrod project continues to forecast first oil in late 2026, with peak production planned to increase to 30,000 bopd by 2028. In 2024, IPC achieved over 250% reserves replacement ratio, ending the year with 493 MMboe of 2P reserves, the highest in our history.(1)(2)

    On Stakeholder Returns, we completed the 2023/2024 NCIB program, purchasing and cancelling 8.3 million IPC common shares over the period of December 5, 2023 to December 4, 2024, representing approximately 6.5% of the common shares outstanding at the start of that program. We immediately recommenced purchasing under the renewed 2024/2025 NCIB, purchasing for cancellation 0.8 million common shares during December 2024 and over 1.4 million common shares during January 2024. We are permitted to purchase up to a further 5.3 million common shares by early December 2025, which will represent a 6.2% reduction in the number of shares common outstanding at the beginning of the 2024/2025 NCIB.

    On M&A, we continue to review potential opportunities in Canada and internationally. IPC’s principal focus continues to be on progressing the Blackrod Phase 1 development as well as developing our existing asset base in Canada, France and Malaysia.

    IPC is well-positioned for 2025 and beyond as our Blackrod Phase 1 project is progressing according to plan, our existing production operations continue to generate strong cash flows, and our balance sheet is strong. At the same time, we continue return value to our shareholders by repurchasing and cancelling our common shares under the NCIB. I look forward to another exciting year at IPC with our high quality assets and our highly skilled and motivated teams across all areas of operation.”

    2024 Business Highlights

    • Average net production of approximately 47,400 boepd for the fourth quarter of 2024 was in line with the guidance range for the period (51% heavy crude oil, 15% light and medium crude oil and 34% natural gas).(1)
    • Full year 2024 average net production was 47,400 boepd, above the mid-point of the 2024 annual guidance of 46,000 to 48,000 boepd.(1)
    • Development activities on Phase 1 of the Blackrod project progressed in 2024 on schedule and on budget, with forecast first oil in late 2026. All major third-party contracts have been executed and construction is advancing according to plan, including construction of the central processing facility (CPF) and well pad facilities, finalization of the midstream agreements for the input fuel gas, diluent and oil blend pipelines, and advancement of drilling operations. As at the end of 2024, over two-thirds of the forecast Blackrod Phase 1 development capital expenditure of USD 850 million has been spent since project sanction in early 2023.
    • Drilling activity at the Southern Alberta assets in Canada continued with a total of thirteen wells drilled during 2024.
    • Successful completion of planned maintenance shutdowns at Onion Lake Thermal (OLT) in Canada and the Bertam field in Malaysia during 2024.
    • 8.3 million common shares purchased and cancelled from December 2023 to early December 2024 under IPC’s 2023/2024 NCIB and a further 2.2 million common shares purchased for cancellation during December 2024 and January 2025 under the renewed 2024/2025 NCIB.
    • In Q3 2024, published IPC’s fifth annual Sustainability Report.

    2024 Financial Highlights

    • Operating costs per boe of USD 18.2 for the fourth quarter of 2024 and USD 17.0 for the full year, in line with the most recent 2024 guidance of less than USD 18.0 per boe for the full year.(3)
    • Strong operating cash flow (OCF) generation for the fourth quarter and full year 2024 amounted to MUSD 78 and MUSD 342, respectively.(3)
    • Capital and decommissioning expenditures of MUSD 129 for the fourth quarter and MUSD 442 for the full year 2024, in line with the full year guidance of MUSD 437.
    • Free cash flow (FCF) generation for the full year 2024 of negative MUSD 135, with negative FCF generation of MUSD 61 for the fourth quarter in line with expectations and taking into account the significant capital expenditures during the quarter in respect of the Blackrod project. FCF for the full year 2024, before 2024 Blackrod Phase 1 development expenditure of MUSD 351, was MUSD 216.(3)
    • Net debt of MUSD 209 and gross cash of MUSD 247 as at December 31, 2024.(3)
    • Net result of MUSD 0.4 for the fourth quarter of 2024 and MUSD 102 for the full year 2024.
    • Entered into a letter of credit facility in Canada during 2024 to cover operational letters of credit, giving full availability under IPC’s undrawn CAD 180 million Revolving Credit Facility.

    Reserves and Resources

    • Total 2P reserves as at December 31, 2024 of 493 MMboe, with a reserve life index (RLI) of 31 years.(1)(2)
    • Contingent resources (best estimate, unrisked) as at December 31, 2024 of 1,107 MMboe.(1)(2)
    • 2P reserves net asset value (NAV) as at December 31, 2024 of MUSD 3,083 (10% discount rate).(1)(2)(5)(6)

    2025 Annual Guidance

    • Full year 2025 average net production forecast at 43,000 to 45,000 boepd.(1)
    • Full year 2025 operating costs forecast at USD 18 to 19 per boe.(3)
    • Full year 2025 OCF guidance estimated at between MUSD 210 and 280 (assuming Brent USD 65 to 85 per barrel).(3)
    • Full year 2025 capital and decommissioning expenditures guidance forecast at MUSD 320, including MUSD 230 relating to Blackrod capital expenditure.
    • Full year 2025 FCF ranges from approximately MUSD 80 to 150 (assuming Brent USD 65 to 85 per barrel) before taking into account proposed Blackrod capital expenditures, or negative MUSD 150 to 80 including proposed Blackrod capital expenditures.(3)

    Business Plan Production and Cash Flow Guidance

    • 2025 – 2029 business plan forecasts:
      • average net production forecast approximately 57,000 boepd.(1)(8)
      • capital expenditure forecast of USD 8 per boe, including USD 3 per boe for growth expenditure.(8)
      • operating costs forecast of USD 18 to 19 per boe.(3)(8)
      • FCF forecast of approximately MUSD 1,200 to 2,000 (assuming Brent USD 75 to 95 per barrel).(3)(8)
    • 2030 – 2034 business plan forecasts:
      • average net production forecast of approximately 63,000 boepd.(1)(8)
      • capital expenditure forecast of USD 5 per boe.(8)
      • operating costs forecast of USD 18 to 19 per boe.(3)(8)
      • FCF forecast of approximately MUSD 1,600 to 2,600 (assuming Brent USD 75 to 95 per barrel).(3)(8)
      Three months ended December 31   Year ended December 31
    USD Thousands 2024   2023     2024   2023
    Revenue 199,124   198,460     797,783   853,906
    Gross profit 42,774   39,955     210,171   250,514
    Net result 415   29,710     102,219   172,979
    Operating cash flow (3) 78,158   73,634     341,989   353,048
    Free cash flow (3) (61,476 ) (64,688 )   (135,497 ) 2,689
    EBITDA (3) 76,184   66,284     335,488   350,618
    Net Cash / (Debt) (3) (208,528 ) 58,043     (208,528 ) 58,043
                     

    IPC was launched in 2017 by way of spinning off the non-Norwegian assets from Lundin Energy. The strategy and vision from the outset was to be the international E&P growth vehicle for the Lundin Group by pursuing growth organically and through acquisitions. The foundation of this strategy was and is predicated on maximising long-term stakeholder value through responsible business operations focused on operational excellence and financial resilience to underpin optimal capital allocation decision-making.

    We are very pleased with the track record of value creation achieved by the company to date. IPC’s production, reserves, resources and cash flow exposure has increased materially through accretive acquisitions supplemented by base business investment. Excluding the growth capital expenditure assigned to the Blackrod Phase 1 development, over USD 1.5 billion in free cash flow (FCF) has been generated and over USD 0.5 billion has been returned to shareholders in the form of share buybacks since inception. IPC’s current shares outstanding are less than 5% higher than the original shares outstanding upon the formation of the company. IPC is determined to build on the historical success and the growth outlook has never been brighter.(3)

    2024 was a milestone year for the company through successfully delivering the largest capital investment campaign in its history. The record investment was accompanied by strong safety, operational and financial performance. IPC returned USD 102 million of value to shareholders in the year through share repurchases, whilst maintaining a strong balance sheet.

    Oil prices were rangebound in 2024 between Brent USD 70 to 90 per barrel, with a full year Brent average of USD 81 per barrel, in line with our original oil price sensitivities guided at CMD. The fourth quarter 2024 Brent price averaged USD 75 per barrel, the lowest quarterly price average in the year. The downward trend in benchmark oil prices through the second half of 2024 has been slightly reversed in current time as continuous crude inventory draws, strong demand, underwhelming non-OPEC production growth and continued OPEC production curtailments have supported the market balance. A new administration in the White House presents uncertainty for the oil market, as looming tariffs and sanctions pose a risk to global supply chain systems and trade flows. Around 40% of our 2025 Dated Brent and WTI exposure is hedged at USD 76 per barrel and USD 71 per barrel respectively.

    The fourth quarter 2024 WTI to WCS price differentials averaged less than USD 13 per barrel, around USD 2 per barrel lower than the full year average of USD 15 per barrel. The fourth quarter differential was the lowest quarterly average since the Covid pandemic in 2020 when benchmark oil prices were more than USD 30 per barrel less than current levels. The TMX pipeline is driving the tighter differentials with excess take-away capacity in the Western Canadian Sedimentary Basin (WCSB) relative to supply. Close to 50% of our 2025 WCS to WTI differential exposure is hedged at USD 14 per barrel, which should assist in mitigating adverse effects of potential US tariffs on Canadian production.

    Natural gas prices averaged CAD 1.5 per Mcf for 2024 and in the fourth quarter. Western Canada gas storage levels continue to sit above the five-year range. This is in part due to delays of the LNG Canada start-up project which was supposed to be onstream at end 2024, start-up is now anticipated for mid-2025. IPC has around 9,600 Mcf per day hedged at CAD 2.6 per Mcf for 2025.

    Fourth Quarter and Full Year 2024 Highlights

    During the fourth quarter of 2024, IPC’s assets delivered average net production of 47,400 boepd, in line with guidance for the quarter. Full year 2024 average net production of 47,400 boepd was above the 2024 mid-point guidance range of 46,000 to 48,000 boepd.(1)

    IPC’s operating costs per boe for the fourth quarter of 2024 was USD 18.2. Full year 2024 operating costs per boe was USD 17.0, in line with the most recent 2024 annual guidance of less than USD 18 per boe.(3)

    Operating cash flow (OCF) generation for the fourth quarter of 2024 was USD 78 million. Full year 2024 OCF was USD 342 million in line with the most recent guidance of USD 335 to 342 million.(3)

    Capital and decommissioning expenditure for the fourth quarter of 2024 was USD 129 million. Full year 2024 capital and decommissioning expenditure of USD 442 million was in line with guidance of USD 437 million.

    Free cash flow (FCF) generation was in line with guidance at negative USD 61 million during the fourth quarter of 2024, reflecting the higher level of capital expenditure on the Blackrod Phase 1 development project. Full year 2024 FCF generation was negative USD 135 million, in line with the most recent guidance of negative USD 140 to 133 million.(3)

    As at December 31, 2024, IPC’s net debt position was USD 209 million. IPC’s gross cash on the balance sheet amounts to USD 247 million which provides IPC with significant financial strength to continue progressing its strategies in 2025, including advancing the Blackrod development project, returning value to shareholders through the 2024/2025 NCIB, and remaining opportunistic to mergers and acquisitions activity.(3)

    Blackrod Project

    The Blackrod asset is 100% owned by IPC and hosts the largest booked reserves and contingent resources within the IPC portfolio. After more than a decade of pilot operations, subsurface delineation and commercial engineering studies, IPC sanctioned the Phase 1 Steam Assisted Gravity Drainage (SAGD) development in the first quarter of 2023. The Phase 1 development targets 259 MMboe of 2P reserves, with a multi-year forecast capital expenditure of USD 850 million to first oil planned in late 2026. The Phase 1 development is planned for plateau production of 30,000 bopd which is expected by early 2028.(1)(2)

    As at the end of 2024, USD 591 million of cumulative growth capital, has been spent on the Blackrod Phase 1 development since sanction with a peak annual investment of USD 351 million incurred in 2024. Significant progress has been made across all key scopes of the project including but not limited to: detailed engineering, procurement, fabrication, drilling, construction, third party transport pipelines, commissioning and operations planning. Site health and safety control has been excellent with zero lost time incidents since commercial development activities commenced.

    Looking forward, USD 230 million is planned to be spent in 2025 mainly relating to advancing the remaining fabrication, construction and substantial completion of the Central Processing Facility (CPF) for the Phase 1 development. The remaining growth capital expenditure to first oil is forecast to be spent in 2026 on drilling, completions and commissioning of the CPF with first steam anticipated by end Q1 2026.

    IPC is strongly positioned to deliver within plan with a clear line of sight to start-up. The Blackrod Phase 1 project is expected to generate significant value for all our stakeholders. And with over 1 billion barrels of best estimate contingent resources (unrisked) beyond Phase 1, IPC is pleased to announce a resource maturation plan that sees significant volume maturation into reserves through low cost of less than USD 0.15 per barrel. The 2P reserves attributable to Phase 1 has increased by 40 MMboe to 259 MMboe from year end 2023 to year end 2024.(2)

    As at the end of 2024, 70% of the Blackrod Phase 1 development capital had been spent since the project sanction in early 2023. All major work streams are progressing as planned and the focus continues to be on executing the detailed sequencing of events as facility modules are safely delivered and installed at site. The total Phase 1 project guidance of USD 850 million capital expenditure to first oil in late 2026 is unchanged. IPC intends to fund the remaining Blackrod Phase 1 development costs with forecast cash flow generated by its operations and cash on hand.

    Stakeholder Returns: Normal Course Issuer Bid

    During the period of December 5, 2023 to December 4, 2024, IPC purchased and cancelled an aggregate of approximately 8.3 million common shares under the 2023/2024 NCIB. The average price of shares purchased under the 2023/2024 NCIB was SEK 131 / CAD 17 per share.

    In Q4 2024, IPC announced the renewal of the NCIB, with the ability to repurchase up to approximately 7.5 million common shares over the period of December 5, 2024 to December 4, 2025. Under the 2024/2025 NCIB, IPC repurchased and cancelled approximately 0.8 million common shares in December 2024. By the end of January 2025, IPC repurchased for cancellation over 1.4 million common shares under the 2024/2025 NCIB. The average price of common shares purchased under the 2024/2025 NCIB during December 2024 and January 2025 was SEK 135 / CAD 17.5 per share.

    As at February 7, 2025, IPC had a total of 117,781,927 common shares issued and outstanding, of which IPC holds 508,853 common shares in treasury.

    Under the 2024/2025 NCIB, IPC may purchase and cancel a further 5.3 million common shares by December 4, 2025. This would result in the cancellation of 6.2% of shares outstanding as at the beginning of December 2024. IPC continues to believe that reducing the number of shares outstanding while in parallel investing in material production growth at Blackrod will prove to be a winning formula for our stakeholders.

    Environmental, Social and Governance (ESG) Performance

    As part of IPC’s commitment to operational excellence and responsible development, IPC’s objective is to reduce risk and eliminate hazards to prevent occurrence of accidents, ill health, and environmental damage, as these are essential to the success of our business operations. During the fourth quarter and for the full year 2024, IPC recorded no material safety or environmental incidents.

    As previously announced, IPC targets a reduction of our net GHG emissions intensity by the end of 2025 to 50% of IPC’s 2019 baseline and IPC remains on track to achieve this reduction. During 2024, IPC announced the commitment to remain at end 2025 levels of 20 kg CO2/boe through to the end of 2028.(4)

    Reserves, Resources and Value

    As at the end of December 2024, IPC’s 2P reserves are 493 MMboe. During 2024, IPC replaced 251% of the annual 2024 production. The reserves life index (RLI) as at December 31, 2024, is approximately 31 years.(1)(2)

    The net present value (NPV) of IPC’s 2P reserves as at December 31, 2024 was USD 3.3 billion. IPC’s net asset value (NAV) was USD 3.1 billion or SEK 287 / CAD 37 per share as at December 31, 2024.(1)(2)(5)(6)(7)

    In addition, IPC’s best estimate contingent resources (unrisked) as at December 31, 2024 are 1,107 MMboe, of which 1,025 MMboe relate to future potential phases of the Blackrod project.(1)(2)

    2025 Budget and Operational Guidance

    IPC is pleased to announce its 2025 average net production guidance is 43,000 to 45,000 boepd. IPC forecasts operating costs for 2025 between USD 18 and 19 per boe.(1)(3)

    IPC’s 2025 capital and decommissioning expenditure budget is USD 320 million, with USD 230 million forecast relating to Blackrod capital expenditure. The remainder of the 2025 budget in Canada includes drilling and ongoing optimization work at Onion Lake Thermal and Suffield Area assets. IPC also plans to advance the next phase of infill drilling and complete well maintenance works at the Bertam field in Malaysia. IPC expects to conduct technical studies for future development potential in France. In all of IPC’s areas of operation, IPC has significant flexibility to control its pace of spend based on the development of commodity prices during 2025.

    Notwithstanding a modest production decline expected in 2025, IPC’s production per share metric remains largely unchanged relative to 2024 and 2023. IPC has prioritised capital allocation to the transformational Blackrod Phase 1 development and share buybacks as opposed to further increasing its base business investment to preserve balance sheet strength and maximise long- term shareholder value.

    Further details regarding IPC’s proposed 2025 budget and operational guidance will be provided at IPC’s Capital Markets Day presentation to be held on February 11, 2025 at 15:00 CET. A copy of the Capital Markets Day presentation will be available on IPC’s website at www.international-petroleum.com.

    Notes:

    (1) See “Supplemental Information regarding Product Types” in “Reserves and Resources Advisory” below. See also the material change report (MCR) available on IPC’s website at www.international-petroleum.com and filed on the date of this press release under IPC’s profile on SEDAR+ at www.sedarplus.ca.
    (2) See “Reserves and Resources Advisory“ below. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of NPV, are described in the MCR. The reserve life index (RLI) is calculated by dividing the 2P reserves of 493 MMboe as at December 31, 2024 by the mid-point of the 2025 CMD production guidance of 43,000 to 45,000 boepd. Reserves replacement ratio is based on 2P reserves of 468 boe as at December 31, 2024, sales production during 2024 of 16.6 MMboe, net additions to 2P reserves during 2024 of 41.7 MMboe, and 2P reserves of 493 MMboe as at December 31, 2024.
    (3) Non-IFRS measure, see “Non-IFRS Measures” below and in the MD&A.
    (4) Emissions intensity is the ratio between oil and gas production and the associated carbon emissions, and net emissions intensity reflects gross emissions less operational emission reductions and carbon offsets.
    (5) Net present value (NPV) is after tax, discounted at 10% and based upon the forecast prices and other assumptions further described in the MCR. See “Reserves and Resources Advisory” below.
    (6) Net asset value (NAV) is calculated as NPV less net debt of USD 209 million as at December 31, 2024.
    (7) NAV per share is based on 119,059,315 IPC common shares as at December 31, 2024, being 119,169,471 common shares outstanding less 110,156 common shares held in treasury and cancelled in January 2025. NAV per share is not predictive and may not be reflective of current or future market prices for IPC common shares.
    (8) Estimated FCF generation is based on IPC’s current business plans over the periods of 2025 to 2029 and 2030 to 2034, including net debt of USD 209 million as at December 31, 2024, with assumptions based on the reports of IPC’s independent reserves evaluators, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and financing costs. Assumptions include average net production of approximately 57 Mboepd over the period of 2025 to 2029, average net production of approximately 63 Mboepd over the period of 2030 to 2034, average Brent oil prices of USD 75 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and as further described in the MCR. IPC’s market capitalization is at close on January 31, 2025 (USD 1,557 million based on 146.8 SEK/share, 117.7 million IPC shares outstanding (net of treasury shares) and exchange rate of 11.10 SEK/USD). IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts. See “Forward-Looking Statements” and “Non-IFRS Measures” below.

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50    		       Or       Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15
             

    This information is information that International Petroleum Corporation is required to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07:30 CET on February 11, 2025. The Corporation’s audited condensed consolidated financial statements (Financial Statements) and management’s discussion and analysis (MD&A) for the three months and year ended December 31, 2024 have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Corporation’s website (www.international-petroleum.com).

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    Forward-looking statements include, but are not limited to, statements with respect to:

    • 2025 production ranges (including total daily average production), production composition, cash flows, operating costs and capital and decommissioning expenditure estimates;
    • Estimates of future production, cash flows, operating costs and capital expenditures that are based on IPC’s current business plans and assumptions regarding the business environment, which are subject to change;
    • IPC’s financial and operational flexibility to navigate the Corporation through periods of volatile commodity prices;
    • The ability to fully fund future expenditures from cash flows and current borrowing capacity;
    • IPC’s intention and ability to continue to implement its strategies to build long-term shareholder value;
    • The ability of IPC’s portfolio of assets to provide a solid foundation for organic and inorganic growth;
    • The continued facility uptime and reservoir performance in IPC’s areas of operation;
    • Development of the Blackrod project in Canada, including estimates of resource volumes, future production, timing, regulatory approvals, third party commercial arrangements, breakeven oil prices and net present values;
    • Current and future production performance, operations and development potential of the Onion Lake Thermal, Suffield, Brooks, Ferguson and Mooney operations, including the timing and success of future oil and gas drilling and optimization programs;
    • The potential improvement in the Canadian oil egress situation and IPC’s ability to benefit from any such improvements;
    • The ability of IPC to achieve and maintain current and forecast production in France and Malaysia;
    • The intention and ability of IPC to acquire further common shares under the NCIB, including the timing of any such purchases;
    • The return of value to IPC’s shareholders as a result of the NCIB;
    • IPC’s ability to implement its GHG emissions intensity and climate strategies and to achieve its net GHG emissions intensity reduction targets;
    • IPC’s ability to implement projects to reduce net emissions intensity, including potential carbon capture and storage;
    • Estimates of reserves and contingent resources;
    • The ability to generate free cash flows and use that cash to repay debt;
    • IPC’s continued access to its existing credit facilities, including current financial headroom, on terms acceptable to the Corporation;
    • IPC’s ability to identify and complete future acquisitions;
    • Expectations regarding the oil and gas industry in Canada, Malaysia and France, including assumptions regarding future royalty rates, regulatory approvals, legislative changes, and ongoing projects and their expected completion; and
    • Future drilling and other exploration and development activities.

    Statements relating to “reserves” and “contingent resources” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and that the reserves and resources can be profitably produced in the future. Ultimate recovery of reserves or resources is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

    Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

    These include, but are not limited to general global economic, market and business conditions, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations.

    Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in the MD&A (See “Risk Factors”, “Cautionary Statement Regarding Forward-Looking Information” and “Reserves and Resources Advisory” therein), the Corporation’s material change report dated February 11, 2025 (MCR), the Corporation’s Annual Information Form (AIF) for the year ended December 31, 2023, (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

    Management of IPC approved the production, operating costs, operating cash flow, capital and decommissioning expenditures and free cash flow guidance and estimates contained herein as of the date of this press release. The purpose of these guidance and estimates is to assist readers in understanding IPC’s expected and targeted financial results, and this information may not be appropriate for other purposes.

    Estimated FCF generation is based on IPC’s current business plans over the periods of 2025 to 2029 and 2030 to 2034, including net debt of USD 209 million as at December 31, 2024, with assumptions based on the reports of IPC’s independent reserves evaluators, and including certain corporate adjustments relating to estimated general and administration costs and hedging, and excluding shareholder distributions and financing costs. Assumptions include average net production of approximately 57 Mboepd over the period of 2025 to 2029, average net production of approximately 63 Mboepd over the period of 2030 to 2034, average Brent oil prices of USD 75 to 95 per bbl escalating by 2% per year, and average Brent to Western Canadian Select differentials and average gas prices as estimated by IPC’s independent reserves evaluator and as further described in the MCR. IPC’s current business plans and assumptions, and the business environment, are subject to change. Actual results may differ materially from forward-looking estimates and forecasts.

    Non-IFRS Measures
    References are made in this press release to “operating cash flow” (OCF), “free cash flow” (FCF), “Earnings Before Interest, Tax, Depreciation and Amortization” (EBITDA), “operating costs” and “net debt”/”net cash”, which are not generally accepted accounting measures under International Financial Reporting Standards (IFRS) and do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable with similar measures presented by other public companies. Non-IFRS measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

    The definition of each non-IFRS measure is presented in IPC’s MD&A (See “Non-IFRS Measures” therein).

    Operating cash flow
    The following table sets out how operating cash flow is calculated from figures shown in the Financial Statements:

      Three months ended December 31   Year ended December 31
    USD Thousands 2024   2023     2024   2023  
    Revenue 199,124   198,460     797,783   853,906  
    Production costs and net sales of diluent to third party1 (119,371 ) (126,414 )   (447,481 ) (491,303 )
    Current tax (1,595 ) 1,588     (8,313 ) (14,457 )
    Operating cash flow 78,158   73,634     341,989   348,146  
                       

    1 Include net sales of diluent to third party amounting to USD 737 thousand for the fourth quarter of 2024 and the year ended December 31, 2024.

    The operating cash flow for the year ended December 31, 2023 including the operating cash flow contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 353,048 thousand.

    Free cash flow
    The following table sets out how free cash flow is calculated from figures shown in the Financial Statements:

      Three months ended December 31   Year ended December 31
    USD Thousands 2024   2023     2024   2023  
    Operating cash flow – see above 78,158   73,634     341,989   348,146  
    Capital expenditures (126,256 ) (128,825 )   (434,713 ) (312,729 )
    Abandonment and farm-in expenditures1 (3,364 ) (1,516 )   (8,302 ) (9,199 )
    General, administration and depreciation expenses before depreciation2 (3,569 ) (5,762 )   (14,814 ) (16,886 )
    Cash financial items3 (6,445 ) (2,219 )   (19,657 ) (5,812 )
    Free cash flow (61,476 ) (64,688 )   (135,497 ) 3,520  

    1 See note 19 to the Financial Statements
    2 Depreciation is not specifically disclosed in the Financial Statements
    3 See notes 5 and 6 to the Financial Statements

    The free cash flow for the year ended December 31, 2023 including the free cash flow contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 2,689 thousand. Free cash flow is before shareholder distributions and financing costs.

    EBITDA
    The following table sets out the reconciliation from net result from the consolidated statement of operations to EBITDA:

      Three months ended December 31   Year ended December 31
    USD Thousands 2024   2023     2024   2023  
    Net result 415   29,710     102,219   172,979  
    Net financial items 35,767   6,509     59,709   22,736  
    Income tax 3,852   4,691     33,325   55,362  
    Depletion and decommissioning costs 32,087   30,434     128,392   101,922  
    Depreciation of other tangible fixed assets 2,430   1,309     8,933   7,812  
    Exploration and business development costs 1,725   348     2,069   2,355  
    Depreciation included in general, administration and depreciation expenses1 308   389     1,241   1,569  
    Sale of assets2 (400 ) (7,106 )   (400 ) (19,018 )
    EBITDA 76,814   66,284     335,488   345,717  

    1 Item is not shown in the Financial Statements
    2 Sale of assets is included under “Other income/(expense)” but not specifically disclosed in the Financial Statements

    The EBITDA for the year ended December 31, 2023 including the EBITDA contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 350,618 thousand.

    Operating costs
    The following table sets out how operating costs is calculated:

      Three months ended December 31   Year ended December 31
    USD Thousands 2024   2023     2024   2023  
    Production costs 120,108   126,414     448,218   491,303  
    Cost of blending (36,036 ) (44,473 )   (152,735 ) (172,996 )
    Change in inventory position (4,633 ) 1,427     (1,473 ) 3,655  
    Operating costs 79,439   83,368     294,010   321,962  
                       

    The operating costs for the year ended December 31, 2023 including the operating costs contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 328,763 thousand.

    Net cash / (debt)
    The following table sets out how net cash / (debt) is calculated from figures shown in the Financial Statements:

    USD Thousands December 31, 2024   December 31, 2023  
    Bank loans (5,121 ) (9,031 )
    Bonds1 (450,000 ) (450,000 )
    Cash and cash equivalents 246,593   517,074  
    Net cash / (debt) (208,528 ) 58,043  

    1 The bond amount represents the redeemable value at maturity (February 2027).

    Reserves and Resources Advisory
    This press release contains references to estimates of gross and net reserves and resources attributed to the Corporation’s oil and gas assets. For additional information with respect to such reserves and resources, refer to “Reserves and Resources Advisory” in the MD&A and the MCR. Light, medium and heavy crude oil reserves/resources disclosed in this press release include solution gas and other by-products. Also see “Supplemental Information regarding Product Types” below.

    Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in Canada are effective as of December 31, 2024, and are included in the reports prepared by Sproule Associates Limited (Sproule), an independent qualified reserves evaluator, in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) and using Sproule’s December 31, 2024 price forecasts.

    Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in France and Malaysia are effective as of December 31, 2024, and are included in the report prepared by ERC Equipoise Ltd. (ERCE), an independent qualified reserves auditor, in accordance with NI 51-101 and the COGE Handbook, and using Sproule’s December 31, 2024 price forecasts.

    The price forecasts used in the Sproule and ERCE reports are available on the website of Sproule (sproule.com) and are contained in the MCR. These price forecasts are as at December 31, 2024 and may not be reflective of current and future forecast commodity prices.

    The reserve life index (RLI) is calculated by dividing the 2P reserves of 493 MMboe as at December 31, 2024 by the mid-point of the 2025 CMD production guidance of 43,000 to 45,000 boepd. Reserves replacement ratio is based on 2P reserves of 468 MMboe as at December 31, 2023, sales production during 2024 of 16.6 MMboe, net additions to 2P reserves during 2024 of 41.7 MMboe and 2P reserves of 493 MMboe as at December 31, 2024.

    The reserves and resources information and data provided in this press release present only a portion of the disclosure required under NI 51-101. All of the required information will be contained in the Corporation’s Annual Information Form for the year ended December 31, 2024, which will be filed on SEDAR+ (accessible at www.sedarplus.ca) on or before April 1, 2025. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of net present value and other relevant information related to the contingent resources disclosed, is disclosed in the MCR available under IPC’s profile on www.sedarplus.ca and on IPC’s website at www.international-petroleum.com.

    IPC uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). A BOE conversion ratio of 6:1 is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value.

    Supplemental Information regarding Product Types

    The following table is intended to provide supplemental information about the product type composition of IPC’s net average daily production figures provided in this press release:

      Heavy Crude Oil
    (Mbopd)    		 Light and Medium Crude Oil (Mbopd) Conventional Natural Gas (per day) Total
    (Mboepd)
    Three months ended        
    December 31, 2024 24.3 7.1 95.9 MMcf
    (16.0 Mboe)    		 47.4
    December 31, 2023 25.7 6.6 103.8 MMcf
    (17.3 Mboe)    		 49.6
    Year ended        
    December 31, 2024 23.9 7.7 95.1 MMcf
    (15.8 Mboe)    		 47.4
    December 31, 2023 25.8 8.1 102.8 MMcf
    (17.1 Mboe)    		 51.1
             

    This press release also makes reference to IPC’s forecast total average daily production of 43,000 to 45,000 boepd for 2025. IPC estimates that approximately 55% of that production will be comprised of heavy oil, approximately 12% will be comprised of light and medium crude oil and approximately 33% will be comprised of conventional natural gas.

    Currency
    All dollar amounts in this press release are expressed in United States dollars, except where otherwise noted. References herein to USD mean United States dollars. References herein to CAD mean Canadian dollars.

    The MIL Network –

  • MIL-OSI Russia: Teachers and students of the NSU SUNC assessed the advantages of the new school buildings

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    It was completed last summer construction of first stage facilities, including an educational building and a leisure center Specialized educational and scientific center of NSU, better known to Novosibirsk residents as the Physics and Mathematics School or FMSh.

    Even at the construction stage, both the university management and representatives of the Novosibirsk Region government repeatedly emphasized that this was not just about new buildings, but about creating a new type of school using the most advanced technologies, both educational and engineering.

    — No school in the country has such equipment for conducting experimental classes, and only a few schools in the world can boast of this. This allows us to conduct training at the most advanced level, which, in turn, brings victories to the students of the physics and mathematics school at world Olympiads in various subjects. This focus on the best, which is the basis of the campus project, allows us to evaluate it as a world-class facility, — emphasized Vice-Governor of the Novosibirsk Region Irina Manuilova during her latest visit to the construction site.

    Six months have passed, and teachers and students have been able to verify from their own experience how the school passage itself has changed after the move and whether the generous predictions about the new type of school have come true.

    — Work in the old and new buildings are as different as heaven and earth. In the old building, we organized training based on the principle of “it doesn’t matter where we gather, the main thing is that we are together and united by a common goal.” Now, we have at our disposal a multitude of tools, opportunities, and enough space to achieve maximum results in our work, — noted Roman Bredikhin, Associate Professor of the Chemistry Department of the NSU SUNC.

    Large spaces become the foundation for students’ creativity. They allow changing the configuration of study places in the classroom to suit the tasks of a specific lesson: separate tables for tests or exams, team tables for group work, and so on.

    Another advantage was the engineering infrastructure of the academic building.

    — For example, in chemical laboratories, individual equipment of workplaces is provided, right down to personal exhaust hoods and gas distribution to workplaces. This allows us to conduct experiments in an inert environment with protection from oxygen and moisture contained in the air, to carry out those syntheses and implement such projects that were unthinkable in the old building, — said Roman Bredikhin.

    As a result, the school staff faced a certain challenge: the new buildings make it possible to significantly expand the scope of projects carried out by schoolchildren.

    — In fact, we often suggest now: guys, let’s bring your idea to life and it will be a demonstration experiment that you will leave as a keepsake at school. And this approach finds a response, — concluded Roman Bredikhin.

    The students themselves agreed with his assessment of the changes in school life after the move.

    — Of course, the old building had its own atmosphere, which was formed by generations of previous graduates. But I like this building more — there is an emphasis on everything new, new classrooms, recreation areas, areas for a variety of leisure activities, and most importantly — there is enough space here to be able to be creative from the heart, both in terms of studying and in creativity outside of class, — shared his opinion Kirill Volodin, a student of class 11-4.

    — The area here is large and the buildings are impressive in their technological advancement. But at the same time, they are planned in such a way that everyone can find a place to immerse themselves in their project or study material, and nothing will disturb you. Of course, I, like many others, have certain pleasant memories associated with the old building, but I do not regret moving at all. I like studying in the new buildings much more, — added Polina Brezhneva, a student in class 11-5.

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

    MIL OSI Russia News –

  • MIL-OSI United Nations: Secretary-General on the situation in Gaza

    Source: United Nations

    We must avoid at all costs the resumption of hostilities in Gaza that would lead to an immense tragedy.
     
    I appeal to Hamas to proceed with the planned liberation of hostages next Saturday.
     
    Both sides must fully abide by their commitments in the cease-fire agreement and resume serious negotiations in Doha for the second phase.
     
    António Guterres
     

    MIL OSI United Nations News –