Latin America – Page 133

MIL-OSI Global: What Pope Leo XIV’s coat of arms and motto reveal about his dedication to the ideals of St. Augustine − an art historian explains

Source: The Conversation – USA – By Virginia Raguin, Distinguished Professor of Humanities Emerita, College of the Holy Cross

A 17th-century stained glass image of St. Augustine. Artist Tobias Müller, 1622. Michel M. Raguin, with the permission of the Princeton University Art Museum, Princeton NJ, U.S.

Pope Leo XIV has announced his motto and coat of arms – a long-held tradition for those in the ranks of bishops, cardinals and popes. The choice of symbols and words reflects the person’s experience.

Leo’s shield is divided diagonally: The upper half shows a white lily on a blue background, and the lower shows the emblem of the Order of St. Augustine – an order to which he belongs. His motto reads, “In Illo uno unam,” translated as “In the One, we are one,” which are words of St. Augustine from his Exposition on Psalm 127, Paragraph 2: “I understand one in the One Christ. You are therefore many, and you are one; we are many, and we are one. ”

In choosing this motto, Leo includes the identifying symbol of Augustine, a heart pierced by an arrow.

Coat of Arms of Pope Leo XIV.
Photo courtesy of the Holy See Press Office

As an art historian, I explain how Renaissance artists portrayed Augustine’s humility – and what the choice of the motto might tell us about the new pope.
.

The Order of St. Augustine

Augustine lived in the late fourth century, ultimately serving as bishop of Hippo in northern Africa for 34 years. The Augustinian order was founded in 1244 after several communities of hermits living in the region of Tuscany, Italy, petitioned Pope Innocent IV to form a single order. The pope gave them the Rule of Saint Augustine as a code of living, which stated: “Call nothing your own, but let everything be yours in common; [do] not seek after what is vain and earthly.”

Augustine’s status as a scholar, theologian and administrator made him a widely depicted saint. For example, he appears in a stained glass window commissioned by a pastor in 1622, in which he holds his symbol of the heart pierced with the arrow resting on a book on his lap.

The image relates to a phrase from Augustine’s book “The Confessions”: “Thou hadst pierced our heart with thy love, and we carried thy words, as it were, thrust through our vitals.”

In this stained-glass image, the saint is seen speaking to a child. The 1483 translation of the “Golden Legend,” a collection of saints’ lives, explains that while struggling to write his treatise “On the Trinity,” Augustine was walking at the seashore and saw a child filling a tiny pit with water.

When the child explained that he was bringing the ocean into the pit, Augustine scolded him for being silly. The child answered that he would sooner fit all the water of the sea into the pit than Augustine could bring the mystery of the Trinity into his limited human understanding. The Trinity is the Christian concept that God is not a single person but three – Father, Son and Holy Spirit – united in a single divine and eternal nature.

This lesson in humility became widely depicted across the centuries. In 1482, an altarpiece by the painter and sculptor Michael Pacher shows Augustine with a child at his feet holding a spoon.

Augustine’s scholarship

Augustine’s legacy includes not only “The Confessions,” one of the most widely read books of medieval and early modern times, and “On the Trinity,” but many others, including “The City of God,” a monumental work of over 1,000 pages.

Fresco of St. Augustine.
Sandro Botticelli via Wikimedia Commons

Sandro Botticelli’s 1480 painting of Augustine in his study shows the saint searching for clarity of thought as he pauses his writing.

Dressed simply in a long white garment and a cloak, he has set aside his bishop’s miter, an official hat – also a gesture of humility. His study is crowded with books; on the right, behind his head, a book is open to a study of geometry.

Botticelli tries to show the saint as a scholar in ancient times by placing on the left an old and discredited celestial model that depicts the Earth at the center of the universe, with the Sun, Moon, planets and stars revolving around it. We, with modern knowledge, understand that despite his intelligence, Augustine cannot know everything.

Leo has been both a scholar and pastor. He served as a professor of canon law and early Christian theology at San Carlos y San Marcelo, a seminary in Peru.

Yet, like the founder of his order, his words at this first Mass reflected his humility when he said that his appointment as pope was “both a cross and a blessing” and spoke of the responsibility he and the cardinals have in the world.

Virginia Raguin does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. What Pope Leo XIV’s coat of arms and motto reveal about his dedication to the ideals of St. Augustine − an art historian explains – https://theconversation.com/what-pope-leo-xivs-coat-of-arms-and-motto-reveal-about-his-dedication-to-the-ideals-of-st-augustine-an-art-historian-explains-256539

MIL OSI – Global Reports –

May 16, 2025

MIL-OSI: North America Drone Market Size Expected Reach $31 Billion By 2034 as Revenue Opportunities Jump

Source: GlobeNewswire (MIL-OSI)

PALM BEACH, Fla., May 15, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The Drones-As-A Service market is expected to continue substantial growth in the coming years. The adoption of advanced technologies in drones, such as thermal imaging, gas detection, and loudspeakers, is increasing, particularly in public safety and emergency response. Drones equipped with these technologies are used extensively by fire departments, search and rescue teams, and law enforcement to manage disasters and enhance surveillance. The primary reasons for the adoption of these technologies include the need for enhanced operational efficiency and safety in executing complex tasks such as infrastructure inspections, disaster management, and agricultural monitoring. The ability of drones to provide high-resolution imagery and real-time data is invaluable in these contexts, enabling better decision-making and resource allocation. A report from Market.us projected that the North America Drone Market size is expected to be worth around USD 31,062.9 Million By 2034, from USD 11,445.1 Million in 2024, growing at a CAGR of 10.5% during the forecast period from 2025 to 2034.The U.S. Drone market was estimated at USD 10,869.4 Million in 2024 and is expected to grow at a CAGR of 10.4% from 2025 to 2034. The report said: “The primary reasons for the adoption of these technologies include the need for enhanced operational efficiency and safety in executing complex tasks such as infrastructure inspections, disaster management, and agricultural monitoring. The ability of drones to provide high-resolution imagery and real-time data is invaluable in these contexts, enabling better decision-making and resource allocation.” Active Companies in the drone industry today include ZenaTech, Inc. (NASDAQ: ZENA), Red Cat Holdings, Inc. (NASDAQ: RCAT), AgEagle Aerial Systems Inc. (NYSE: UAVS), Draganfly Inc. (NASDAQ: DPRO), AeroVironment, Inc. (NASDAQ: AVAV).

The Market.us report continued: “The North America drone market is characterized by a significant presence of small and medium-sized enterprises, with a considerable portion being small drone companies. This market is seeing growth in diversity with the entry of major tech companies like Alphabet and Intel. The integration of cutting-edge technologies by companies such as DJI, which recently introduced a LiDAR system for professional surveying, exemplifies the ongoing innovation within this sector. Several key drivers are propelling the North America drone market. Regulatory developments have played a crucial role, especially with the Federal Aviation Administration (FAA) updating rules to allow more extensive commercial drone operations, including beyond visual line of sight (BVLOS) flights. Additionally, technological advancements in drone hardware and software are enhancing their capabilities, making them more appealing for commercial applications.” It concluded: “The US Drone Market is valued at approximately USD 10,869 Million in 2024 and is predicted to increase from USD 11,999 Million in 2025 to approximately USD 29,233.5 Million by 2034, projected at a CAGR of 10.4% from 2025 to 2034. The presence of supportive government policies and Federal Aviation Administration (FAA) regulations has facilitated controlled commercial drone operations, especially in areas such as logistics, agriculture, and infrastructure inspection. Moreover, consistent investment by the U.S. Department of Defense in military drones has further strengthened the market.”

ZenaTech (NASDAQ:ZENA) Reports Nearly Double Revenue Year-Over-Year for the First Quarter of 2025 – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone as a Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces financial results for the first quarter 2025.

First Quarter 2025 Highlights:

Total revenues for the first quarter of 2025 were $1.13 million, up 92% compared to $591,379 for the first quarter of 2024 primarily due to acquisitions and organic growth.
ZenaTech’s new Drone as a Service or DaaS segment grew from completing two acquisitions of land survey drone servicing companies ─ Oregon-based Weddle Surveying and Florida-based KJM Land Surveying. The Company also signed five LOIs (Letter of Intent) for additional acquisitions during the quarter.
The company acquired Othership, a UK workplace management software company supporting its enterprise SaaS software segment, where it plans to leverage workplace AI and quantum computing productivity solutions targeting business and government customers.
The company made investments in longer term growth and in new segment development that caused general and administrative expenses to increase to $5.75 million in Q1 2025 versus about $0.7 million in Q1 of 2024. This primarily consisted of sales and marketing activities, new hires, professional services, and finance expenses.
ZenaTech made investments in its subsidiary ZenaDrone’s UAE manufacturing capabilities during the quarter, including hiring 35 new engineers and technicians. Also announced was the opening of a drone testing facility in Turkey for beyond-the-line-of-sight drone testing.
Drone product highlights in Q1 include finalizing the third-generation design and “production model” of the ZenaDrone 1000 drone that will enable the start of scaling up of production. The company also announced the IQ Square drone has moved from prototype to manufacturing stage.
The commence of work on a heavy-lift gas-powered ZD 1000 model for longer fight times for US defense applications took place during the quarter. Testing also commenced on a new high-density drone battery and a proprietary communications system for this drone.
The company reported that ZenaDrone is preparing for Green UAS followed by Blue UAS certification required to sell to the US Military. Additionally, it is reviewing and putting in place cybersecurity practices, documentation, and internal controls necessary to apply for this certification.
ZenaTech further expanded its Taiwan drone component manufacturer─ Spider Vision Sensors, adding additional engineering and business development staff. It also announced the first Blue UAS-certifiable drone sensors are under development.

“The first quarter of 2025 was a very strong and encouraging start to the year as revenue nearly doubled, up 92% primarily due to acquisitions and organic growth across both our software and drone segments,” said CEO Shaun Passley, Ph.D. “During the first quarter we launched our Drone as a Service or DaaS business segment with a vision to have a national footprint in the US and globally.”

“Although expenses increased during the first quarter, these are investments intended to grow the company over the long-term, namely in marketing, manufacturing, product development and testing capacity, which we believe will yield future rewards.

“We believe that this quarter’s performance demonstrates that our strategy to disrupt legacy businesses like land surveys via a DaaS business model is on track. Our momentum is strong, and we are well positioned to expand our range of drone services with a pipeline of over 20 acquisitions over the next 12 months,” concluded Dr. Passley. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

In Additional ZENA News: ZenaTech’s (NASDAQ:ZENA) Expands Drone-as-a-Service (DaaS) Exterior Building Power Washing to Dubai Tapping into a Global Drone Cleaning Services Market Growing to USD 13 Billion by 2030 – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), enterprise SaaS, and Quantum Computing solutions, announced it is expanding its United Arab Emirates (UAE) presence by establishing a new office to sell Drone-as-a-Service (DaaS) offerings based in Dubai. Initially this office will focus on delivering drone-powered cleaning services for building exteriors using the IQ Square drone tethered to a water pipe and electrical cord. The company is currently obtaining a permit from the Dubai Civil Aviation Authority to begin power wash testing and operations. Supporting this expansion, ZenaTech will hire two business development managers and up to four additional drone pilots, with drones supplied from its subsidiary ZenaDrone which has a manufacturing hub in nearby Sharjah.

The global drone power washing market falls under a broader drone cleaning services market category that was valued at approximately USD 4.36 billion in 2023 and is projected to reach USD 13.2 billion by 2030, growing at a compound annual growth rate (CAGR) of almost 17% according to market analyst Valuates Reports , fueled by increasing demand for safe, efficient and cost-effective maintenance solutions.

“With rising demand for tech-enabled and efficient maintenance solutions, whether for power washing buildings, renewable energy assets, or public spaces, we believe AI-powered drones will bring new safety standards, cost-efficiency, and greater environmental sustainability to maintenance tasks. UAE’s openness to innovative technology makes it an ideal launchpad for these DaaS solutions that we hope to expand to all seven emirates in addition to the US and Europe,” said CEO Shaun Passley, Ph.D. Continued… Read this full release by visiting: https://www.zenatech.com/newsroom/

Other recent developments in the drone industry include:

Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently reported its financial results for the first quarter ended March 31, 2025 and provides a corporate update.

Recent Operational Highlights:

Announced the expansion of our multi-domain Family of Systems with a new line of Unmanned Surface Vessels (USVs). This strategic move marks Red Cat’s official entry into the rapidly evolving maritime autonomy market and reinforces its position as a provider of comprehensive, interoperable unmanned systems for air, land, and sea operations.
Expanded our Red Cat Futures Industry Consortium to include Palantir and Palladyne to boost AI capabilities in contested environments, including visual navigation.
Introducing Black Widow™ and Edge 130 drones to the Latin American market at LAAD 2025 in Rio De Janeiro, Brazil in April 2025.
Introduced our Black Widow™ short-range reconnaissance drone and Edge 130 Tricopter to the Middle East market at the International Defense Exhibition and Conference in Abu Dhabi, UAE, Feb 17-21, 2025.
Introduced Black Widow™ to the Asia Pacific Market at the AISSE conference in Putrajaya, Malaysia in January 2025.
Announced that the Black Widow drone and FlightWave Edge 130 were included on the list of 23 platforms and 14 unique components and capabilities selected as winners of the Blue UAS Refresh. The platforms will undergo National Defense Authorization Act (NDAA) verification and cyber security review with the ultimate goal of joining the Blue UAS List.
Partnered with Palantir to deploy Warp Speed, Palantir’s manufacturing OS. This collaboration will transform our supply and manufacturing operations with Palantir’s AI enabled monitoring, process flow enhancement and comprehensive data analysis. Palantir’s Warp Speed will optimize Red Cat’s production and streamline its supply chain, change management, and quality assurance, ultimately reducing costs and improving margins.

AgEagle Aerial Systems Inc. (NYSE: UAVS), a leading provider of advanced drone and aerial imaging solutions, recently announced the sale of 20 high-performance RedEdge-P cameras to Wingtra, a global leader in vertical take-off and landing (VTOL) drone surveying technology.

This transaction strengthens the partnership between AgEagle and Wingtra, combining AgEagle’s advanced camera technology with Wingtra’s innovative drone platforms to deliver unparalleled aerial mapping and surveying solutions. The cameras are designed for precision agriculture and environmental monitoring, water management, and geospatial applications, and support Wingtra’s ability to provide high-quality data collection for its customers worldwide.

Draganfly Inc. (NASDAQ: DPRO), an award-winning, industry-leading drone solutions and systems developer, recently announced its first quarter financial results. Key Financial and Operational Highlights for Q1 2025:

Revenue for the first quarter of 2025 was $1,547,715 which represents a 16% year over year increase. Product sales of $1,541,811 were up 24.5% over the same period last year.
Gross profit for Q1 2025 was $310,088 up 10.7% from $280,011 for the same period last year. Gross margin percentage for Q1 2025 was 20.0% compared to 21.1% in Q1 2024. Gross profit would have been $271,422 and gross margin would have been 17.5%, not including a one-time non-cash recovery of a write down of inventory of $38,666. The decrease is due to the sales mix of the products sold.
The comprehensive loss for the period of $3,433,712 includes non-cash changes comprised of a positive change in fair value derivative of $157,830, a recovery of a write down of inventory of $38,666, and an impairment gain on notes receivable of $25,951 and would otherwise be a comprehensive loss of $3,656,159 vs an adjusted comprehensive loss of $3,559,976 for the same period last year. Contributors to the slight year-over-year increase are increased research and development, office and miscellaneous, professional fees, share based payments, and wages offset by change in derivative liability.

AeroVironment, Inc. (NASDAQ: AVAV) recently announced a new contract with the Dutch Ministry of Defence (MoD) to modernize the Netherlands’ Puma™ UAS fleet with expanded capabilities for enhanced situational awareness and operational effectiveness.

Under the contract, the Dutch MoD is modernizing its Puma 3 AE UAS fleet with advanced capabilities that empower forces to carry out mission-critical operations autonomously and securely—even in GPS-denied and contested environments. Upgrades will boost survivability, strengthen communications and add the option for vertical take-off and landing (VTOL) to maximize operational agility. Deliveries are underway, with the upgraded systems set for rapid deployment at the squad and platoon levels.

Additionally, the Netherlands is expanding its UAS portfolio with the acquisition of Puma LE, which delivers extended endurance and range. Both Puma 3 AE and Puma LE provide scalable ISR capabilities for tactical formations and civilian missions.

About FN Media Group:

At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia

Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup

Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated fifty one hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:

Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

SOURCE: FN Media Group

The MIL Network –

May 16, 2025

MIL-OSI USA: ICE Rio Grande Valley, federal partners investigation results in 4 Mexican fishermen indicted for illegal red snapper harvesting in US waters

Source: US Immigration and Customs Enforcement

BROWNSVILLE, Texas — A South Texas grand jury indicted a crew of four men from Matamoros, Mexico, for unlawfully transporting fish taken from the Gulf of America, following an investigation conducted by U.S. Immigration and Customs Enforcement, U.S. Coast Guard and the Drug Enforcement Administration.

Miguel Angel Ramirez-Vidal, 32; Jesus David Luna-Marquez, 20; Jesus Roberto Morales-Amador, 27; and Jose Daniel Santiago-Mendoza, 22, arrested following the filing of a criminal complaint and are scheduled to appear for arraignment before U.S. Magistrate Judge Karen Betancourt at 1:45 p.m., May 22.

According to court documents, on April 17, the crew of four allegedly attempted to transport and export roughly 315 kilograms of red snapper illegally taken from U.S. waters. The charges allege they intended to sell the fish in Mexico. The criminal complaint alleges authorities observed the crew’s panga-style fishing vessel in the Gulf of America, seven miles north of the U.S.-Mexico maritime boundary line and 21 miles east of South Padre Island.

The crew was allegedly fishing with approximately four kilometers of heavy nylon fishing line and 1,200 fishing hooks. The complaint further alleges they were in an unmarked and unregistered vessel which was not flying the flag of any nation and operating without running lights. The charges allege none of the crew had a permit to fish in U.S. waters nor had a quota for red snapper, which violates federal law.

If convicted, they face up to five years in federal prison and a possible $250,000 maximum fine. This is the first illegal fishing case to be prosecuted in the Southern District of Texas.

Learn more about ICE HSI’s mission to increase public safety in Central and South Texas communities on X at @HSI_SanAntonio.

MIL OSI USA News –

May 16, 2025

MIL-OSI: Nuvini Group Completes Acquisition of B2B SaaS Platform Munddi

Source: GlobeNewswire (MIL-OSI)

~ Successfully Marks the First of Four Anticipated Acquisitions in 2025 ~

~ Creates New Synergies to Drive Revenue Growth and Enhance NVNI’s Ecosystem of B2B SaaS Solutions across Latin America ~

NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) — Nuvini Group Limited (Nasdaq: NVNI) (“Nuvini” or the “Company”), a leading acquirer of private B2B SaaS companies in Latin America, today announced that it has completed its previously announced acquisition of Munddi Soluções em Tecnologia Ltda. – ME (“Munddi”), an online platform that connects brands with consumers, suppliers, and retail chains based in São Paulo, Brazil. This successfully marks the first of four planned acquisitions in 2025 as part of Nuvini’s ongoing expansion strategy, creating new synergies to drive revenue growth and enhance its ecosystem of B2B solutions across Latin America.

“We are excited to announce the acquisition of Munddi has been completed, reflecting our commitment to execute on our strategy of acquiring, managing, and scaling companies that add strategic value to our network,” said Pierre Schurmann, CEO of Nuvini. “This acquisition will unlock cross-selling opportunities across our ecosystem of B2B SaaS solutions, particularly as it relates to our retail and supply chain solutions consisting of Onclick, Leadlovers, and Mercos. By the end of the year, we expect to close three additional acquisitions and we are optimistic for the future of Nuvini as we further enhance our positioning as the leading B2B SaaS solutions provider across Latin America and continue to drive shareholder value.”

About Munddi
Founded in 2015, Munddi helps small retailers acquire new customers by providing strategic insights and facilitating online product sourcing from regional suppliers. The platform empowers both manufacturers and retailers with data-driven business opportunities, streamlining the connection between buyers and sellers in the retail supply chain.

About Nuvini
Headquartered in São Paulo, Brazil, Nuvini is Latin America’s leading private serial acquirer of B2B SaaS companies. The company focuses on acquiring profitable, high-growth SaaS businesses with strong recurring revenue and cash flow generation. By fostering an entrepreneurial environment, Nuvini enables its portfolio companies to scale and maintain leadership within their respective industries. The company’s long-term vision is to buy, retain, and create value through strategic partnerships and operational expertise.

Disclaimer and Forward-Looking Statements

Any obligation of the Company under the Term Sheet is subject to, among other things, the execution of the relevant definitive transaction documents, the result of a due diligence on Munddi, the satisfaction of conditions precedent for a transaction of this nature. There can be no assurance that any definitive transaction agreements will be entered into or that the potential Munddi acquisition will be consummated on the terms set forth herein, or at all. Therefore, it is possible that such potential acquisition may never occur.

Statements about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the potential Munddi acquisition and the Term Sheet, including the Concurrent Investment and the other terms thereof. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, without limitation: the Company’s ability to negotiate and enter into a definitive agreement with respect to the potential Munddi acquisition or any other alternative proposals on terms satisfactory to the Company, as well as the desirability of any such potential Munddi acquisition compared to alternatives which may be available to the Company; if a definitive agreement is reached, the Company’s ability to complete the potential acquisition on the anticipated timeline or at all,; general market conditions that could affect the consummation of the potential acquisition; if definitive documents with respect to a potential acquisition are executed, whether the parties will achieve any of the anticipated benefits of any such Proposed Transaction; and other factors discussed in the “Risk Factors” section of the Company’s Quarterly and Annual Reports filed with the SEC, and the risks described in other filings that the Company may make with the SEC. Any forward-looking statements speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Relations Contact
Sofia Toledo
ir@nuvini.co

MZ North America
NVNI@mzgroup.us

The MIL Network –

May 16, 2025

MIL-OSI: Bitget Wallet Expands Sei Integration After $20M TVL Surge in One Week

Source: GlobeNewswire (MIL-OSI)

SAN SALVADOR, El Salvador, May 15, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading non-custodial crypto wallet, announced that total value locked (TVL) in Sei Ecosystem Month has exceeded $20 million in one week. The milestone follows strong user participation and has prompted an expansion of the campaign’s total prize pool to $1.2 million, with more phases scheduled in the weeks ahead.

Following Bitget Wallet’s full integration with the Sei network, users can now trade, track, and transfer Sei assets, while bridging tokens from 30 mainstream blockchains into the Sei EVM via Bitget Wallet’s cross-chain infrastructure. Its Super DEX, a decentralized liquidity aggregator spanning 130+ chains, further enables seamless interaction with Sei-based assets from a single interface.

Phase 1 of the campaign, launched May 8 in partnership with Takara Lend, allows users to bridge a minimum of 100 USDT into Sei and stake to earn up to 40% APY. Rewards are distributed in WSEI on a first-come, first-served basis, and the campaign will run through August 8. Phase 2, which began May 15, features a trading task in collaboration with Sailor Finance and runs through May 29. Future phases will highlight additional projects building on Sei, extending the campaign’s scope across the broader ecosystem.

“The traction we’ve seen in just one week speaks to how fast Sei’s DeFi ecosystem is evolving — and how well Bitget Wallet’s infrastructure can onboard users at scale,” said Alvin Kan, COO of Bitget Wallet. “With this momentum, we’re doubling down on ecosystem support and expanding our campaign lineup to bring more users onchain, seamlessly.”

For more information, visit Bitget Wallet blog.

About Bitget Wallet
Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple, seamless and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, a DApp browser, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets.

For media inquiries, please contact media.web3@bitget.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/506fe8b4-1015-48bf-9b9a-9fc0c7efccae

The MIL Network –

May 15, 2025

MIL-OSI: SHELL PLC – REPORT ON PAYMENTS TO GOVERNMENTS FOR THE YEAR 2024

Source: GlobeNewswire (MIL-OSI)

Shell plc – Report on Payments to Governments for the year 2024

Basis for preparation – Report on Payments to Governments for the year 2024
This Report provides a consolidated overview of the payments to governments made by Shell plc and its subsidiary undertakings (hereinafter referred to as “Shell”) for the year 2024 as required under the UK’s Reports on Payments to Governments Regulations 2014 (as amended in December 2015). These UK Regulations enact domestic rules in line with Directive 2013/34/EU (the EU Accounting Directive (2013)) and apply to large UK incorporated companies like Shell that are involved in the exploration, prospection, discovery, development and extraction of minerals, oil, natural gas deposits or other materials. This Report is also filed with the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism) intended to satisfy the requirements of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority in the United Kingdom. This Report is also published pursuant to article 5:25e of the Dutch FMSA (Wft) and is furnished with the US Securities and Exchange Commission (“SEC”) according to Section 13(q) under the US Securities Exchange Act of 1934.

This Report is available for download from www.shell.com/payments.

Legislation
This Report is prepared in accordance with The Reports on Payments to Governments Regulations 2014 as enacted in the UK in December 2014 and as amended in December 2015.

Reporting entities
This Report includes payments to governments made by Shell plc and its subsidiary undertakings (Shell). Payments made by entities where Shell has joint control are excluded from this Report.

Activities
Payments made by Shell to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals, oil and natural gas deposits or other materials (extractive activities) are disclosed in this Report. It excludes payments related to refining, natural gas liquefaction or gas-to-liquids activities. For a fully integrated project, which does not have an interim contractual cut-off point where a value can be attached or ascribed separately to the extractive activities and to other processing activities, payments to governments are not artificially split but are disclosed in full.

Government
Government includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government, including a national oil company.

Project
Payments are reported at project level, except those payments that are not attributable to a specific project which are reported at entity level. Project is defined as operational activities which are governed by a single contract, licence, lease, concession or similar legal agreement, and form the basis for payment liabilities with a government. If such agreements are substantially interconnected, those agreements are to be treated as a single project.

“Substantially interconnected” means forming a set of operationally and geographically integrated contracts, licences, leases or concessions or related agreements with substantially similar terms that are signed with a government giving rise to payment liabilities. Such agreements can be governed by a single contract, joint venture, production sharing agreement or other overarching legal agreement. Indicators of integration include, but are not limited to, geographic proximity, the use of shared infrastructure and common operational management.

Payment
The information is reported under the following payment types:

Production entitlements
These are the host government’s share of production in the reporting period derived from projects operated by Shell. This includes the government’s share as a sovereign entity or through its participation as an equity or interest holder in projects within its sovereign jurisdiction (home country). Production entitlements arising from activities or interests outside of its home country are excluded.

In certain contractual arrangements, typically a production sharing contract, a government through its participation interest may contribute funding of capital and operating expenditure to projects, from which it derives production entitlement to cover such funding (cost recovery). Such cost recovery production entitlement is included.

In situations where a government settles Shell’s income tax obligation on behalf of Shell by utilising its share of production entitlements (typically under a tax-paid concession), such amount will be deducted from the reported production entitlement.

Taxes
These are taxes paid by Shell on its income, profits or production (which include resource severance tax and petroleum resource rent tax), including those settled by a government on behalf of Shell under a tax-paid concession. Payments are reported net of refunds. Consumption taxes, personal income taxes, sales taxes, property and environmental taxes are excluded.

Royalties
These are payments for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken.

Dividends
These are dividend payments other than dividends paid to a government as an ordinary shareholder of an entity unless paid in lieu of production entitlements or royalties. For the year ended December 31, 2024, there were no reportable dividend payments to a government.

Bonuses
These are payments for bonuses. These are usually paid upon signing an agreement or a contract, or when a commercial discovery is declared, or production has commenced, or production has reached a milestone.

Licence fees, rental fees, entry fees and other considerations for licences and/or concessions
These are fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector, or to access to extractive resources, are excluded. Also excluded are payments made in return for services provided by a government.

Infrastructure improvements
These are payments which relate to the construction of infrastructure (road, bridge or rail) not substantially dedicated for the use of extractive activities. Payments which are a social investment in nature, for example building of a school or hospital, are excluded.

Other
Operatorship
When Shell makes a payment directly to a government arising from a project, regardless of whether Shell is the operator, the full amount paid is disclosed even where Shell as the operator is proportionally reimbursed by its non-operating venture partners through a partner billing process (cash-call).

When a national oil company is the operator of a project to whom Shell makes a reportable payment, which is distinguishable in the cash-call, it is included in this Report.

Cash and in-kind payments
Payments are reported on a cash basis. In-kind payments are converted to an equivalent cash value based on the most appropriate and relevant valuation method for each payment, which can be at cost or market value, or such value as stated in the contract. In-kind payments are reported in both volumes and the equivalent cash value.

Materiality level
For each payment type, total payments below £86,000 to a government are excluded from this Report.

Exchange rate
Payments made in currencies other than US dollars are translated for this Report based on the foreign exchange rate at the relevant quarterly average rate.

Report on Payments to Governments [1]

Summary report (in USD)
Countries	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Europe
Germany	–	243,935,441	–	–	–	–	243,935,441
Italy	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631
Norway	2,083,221,642	1,300,962,023	–	–	122,391	–	3,384,306,056
United Kingdom	–	-16,649,747	–	–	11,483,529	–	-5,166,218
Asia
Brunei	3,983,642	44,229,620	8,660,091	–	–	–	56,873,353
China	–	10,343,616	–	–	–	–	10,343,616
India	–	-17,715,638	–	–	–	–	-17,715,638
Kazakhstan	–	242,741,780	–	–	–	–	242,741,780
Malaysia	2,317,002,807	305,924,901	500,008,822	–	–	–	3,122,936,530
Middle East
Oman	633,711,368	3,954,062,451	–	–	900,000	–	4,588,673,819
Qatar	1,801,453,896	1,507,244,066	–	–	30,538,723	–	3,339,236,685
Oceania
Australia	–	1,277,737,693	468,579,450	–	13,412,457	266,428	1,759,996,028
Africa
Egypt	–	41,164,348	–	1,836,435	–	–	43,000,783
Nigeria	3,804,949,166	648,734,398	780,231,463	–	102,925,166	–	5,336,840,193
Sao Tome and Principe	–	–	–	1,300,000	–	–	1,300,000
Tanzania	–	–	–	–	140,000	–	140,000
Tunisia	–	24,904,580	4,941,633	–	–	–	29,846,213
North America
Canada	–	172,567,072	4,697,991	–	1,423,783	–	178,688,846
Mexico	–	–	–	–	21,527,002	–	21,527,002
USA	–	53,238,500	1,187,594,021	–	80,678,527	860,822	1,322,371,870
South America
Argentina	53,082,051	1,984,309	143,969,668	–	123,276	–	199,159,304
Brazil	327,688,819	656,740,954	1,147,687,680	9,540,351	1,556,282,443	–	3,697,940,247
Colombia	–	–	–	–	489,880	–	489,880
Trinidad and Tobago	362,690,585	561,771	2,210,566	300,000	13,719,070	–	379,481,992
Total	11,387,783,976	10,456,840,201	4,322,795,167	12,976,786	1,913,987,033	1,127,250	28,095,510,413

[1] The figures in this Report are rounded.

Germany

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
FEDERAL CENTRAL TAX OFFICE	–	294,891,077	–	–	–	–	294,891,077
MUNICIPALITY OF COLOGNE	–	-2,763,591	–	–	–	–	-2,763,591
MUNICIPALITY OF DINSLAKEN	–	-386,534	–	–	–	–	-386,534
MUNICIPALITY OF GELSENKIRCHEN	–	-483,145	–	–	–	–	-483,145
MUNICIPALITY OF OSTSTEINBEK	–	584,685	–	–	–	–	584,685
MUNICIPALITY OF WESSELING	–	-3,943,262	–	–	–	–	-3,943,262
TAX AUTHORITY HAMBURG	–	-43,963,789	–	–	–	–	-43,963,789
Total	–	243,935,441	–	–	–	–	243,935,441

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Entity level payment
DEUTSCHE SHELL HOLDING GmbH	–	243,935,441	–	–	–	–	243,935,441
Total	–	243,935,441	–	–	–	–	243,935,441

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Italy

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
CALVELLO MUNICIPALITY	–	–	884,083	–	–	–	884,083
CORLETO PERTICARA MUNICIPALITY	–	–	1,964,671	–	–	–	1,964,671
GORGOGLIONE MUNICIPALITY	–	–	302,257	–	–	–	302,257
GRUMENTO NOVA MUNICIPALITY	–	–	505,190	–	–	–	505,190
MARSICO NUOVO MUNICIPALITY	–	–	378,893	–	–	–	378,893
MARSICOVETERE MUNICIPALITY	–	–	126,298	–	–	–	126,298
MONTEMURRO MUNICIPALITY	–	–	126,298	–	–	–	126,298
REGIONE BASILICATA	–	–	44,157,199	–	79,302,465	–	123,459,664
TESORERIA PROVINICIALE DELLO STATO	–	4,128,063	22,264,135	–	718,305	–	27,110,503
VIGGIANO MUNICIPALITY	–	–	3,504,758	–	200,016	–	3,704,774
Total	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
ITALY UPSTREAM ASSET	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631
Total	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Norway

Government report (in USD) [1]
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
EQUINOR ASA	853,946,278	[A]	–	–	–	–	–	853,946,278
PETORO AS	1,229,275,364	[B]	–	–	–	–	–	1,229,275,364
SKATTEETATEN	–		1,300,962,023	–	–	–	–	1,300,962,023
SOKKELDIREKTORATET	–		–	–	–	122,391	–	122,391
Total	2,083,221,642		1,300,962,023	–	–	122,391	–	3,384,306,056

Project report (in USD)
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
ORMEN LANGE	2,083,221,642	[C]	–	–	–	–	–	2,083,221,642
Entity level payment
A/S NORSKE SHELL	—		1,300,962,023	–	–	122,391	–	1,301,084,414
Total	2,083,221,642		1,300,962,023	–	–	122,391	–	3,384,306,056

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $853,946,278 for 12,291 thousand barrels of oil equivalent (kboe) valuated at market price.

[B] Includes payment in kind of $1,229,275,364 for 17,693 kboe valuated at market price.

[C] Includes payment in kind of $2,083,221,642 for 29,984 kboe valuated at market price.

United Kingdom

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
HM REVENUE AND CUSTOMS	–	-16,649,747	–	–	–	–	-16,649,747
NORTH SEA TRANSITION AUTHORITY	–	–	–	–	11,355,210	–	11,355,210
THE CROWN ESTATE SCOTLAND	–	–	–	–	128,319	–	128,319
Total	–	-16,649,747	–	–	11,483,529	–	-5,166,218

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
BRENT AND OTHER NORTHERN NORTH SEA PROJECTS	–	-32,113,820	–	–	563,325	–	-31,550,495
ONEGAS WEST	–	–	–	–	3,232,597	–	3,232,597
UK EXPLORATION PROJECTS	–	–	–	–	1,117,783	–	1,117,783
UK OFFSHORE OPERATED	–	–	–	–	2,119,313	–	2,119,313
WEST OF SHETLAND NON-OPERATED	–	–	–	–	1,076,456	–	1,076,456
Entity level payment
SHELL U.K. LIMITED	–	15,464,073	–	–	3,374,055	–	18,838,128
Total	–	-16,649,747	–	–	11,483,529	–	-5,166,218

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Brunei

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
MINISTRY OF FINANCE AND ECONOMY	–	44,229,620	–	–	–	–	44,229,620
PETROLEUM AUTHORITY OF BRUNEI DARUSSALEM	3,983,642	–	8,660,091	–	–	–	12,643,733
Total	3,983,642	44,229,620	8,660,091	–	–	–	56,873,353

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Entity level payment
SHELL DEEPWATER BORNEO B.V.	–	39,001,133	–	–	–	–	39,001,133
SHELL EXPLORATION AND PRODUCTION BRUNEI B.V.	3,983,642	5,228,487	8,660,091	–	–	–	17,872,220
Total	3,983,642	44,229,620	8,660,091	–	–	–	56,873,353

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

China

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
TIANJIN MUNICIPAL TAXATION BUREAU	–	5,911,867	–	–	–	–	5,911,867
YULIN MUNICIPAL TAXATION BUREAU	–	4,431,749	–	–	–	–	4,431,749
Total	–	10,343,616	–	–	–	–	10,343,616

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Entity level payment
SHELL CHINA EXPLORATION AND PRODUCTION COMPANY LIMITED	–	10,343,616	–	–	–	–	10,343,616
Total	–	10,343,616	–	–	–	–	10,343,616

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

India

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
INCOME TAX DEPARTMENT	–	-17,715,638	–	–	–	–	-17,715,638
Total	–	-17,715,638	–	–	–	–	-17,715,638

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Entity level payment
BG EXPLORATION AND PRODUCTION INDIA LIMITED	–	-17,715,638	–	–	–	–	-17,715,638
Total	–	-17,715,638	–	–	–	–	-17,715,638

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Kazakhstan

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
WEST KAZAKHSTAN TAX COMMITTEE	–	242,741,780	–	–	–	–	242,741,780
Total	–	242,741,780	–	–	–	–	242,741,780

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
KARACHAGANAK	–	242,741,780	–	–	–	–	242,741,780
Total	–	242,741,780	–	–	–	–	242,741,780

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Malaysia

Government report (in USD) [1]
	Production entitlements		Taxes	Royalties		Bonuses	Fees	Infrastructure improvements	Total
Governments
BRUNEI NATIONAL PETROLEUM COMPANY SENDIRIAN BERHAD	301,048,915	[A]	–	–		–	–	–	301,048,915
LEMBAGA HASIL DALAM NEGERI	–		305,924,901	–		–	–	–	305,924,901
MALAYSIA FEDERAL AND STATE GOVERNMENTS	–		–	469,060,363	[B]	–	–	–	469,060,363
PETROLEUM SARAWAK EXPLORATION AND PRODUCTION SDN. BHD.	74,656,856	[C]	–	–		–	–	–	74,656,856
PETROLIAM NASIONAL BERHAD	990,078,563	[D]	–	30,948,459		–	–	–	1,021,027,022
PETRONAS CARIGALI SDN. BHD.	951,218,473	[E]	–	–		–	–	–	951,218,473
Total	2,317,002,807		305,924,901	500,008,822		–	–	–	3,122,936,530

Project report (in USD)
	Production entitlements		Taxes	Royalties		Bonuses	Fees	Infrastructure improvements	Total
Projects
SABAH GAS (NON-OPERATED)	–		16,208,714	3,017,327		–	–	–	19,226,041
SABAH INBOARD AND DEEPWATER OIL	1,435,194,825	[F]	158,435,164	303,452,674	[G]	–	–	–	1,897,082,663
SARAWAK OIL AND GAS	881,807,982	[H]	116,047,586	193,538,821	[I]	–	–	–	1,191,394,389
Entity level payment
SABAH SHELL PETROLEUM COMPANY LIMITED	–		4,502,043	–		–	–	–	4,502,043
SARAWAK SHELL BERHAD	–		3,394,907	–		–	–	–	3,394,907
SHELL ENERGY ASIA LIMITED	–		2,616,753	–		–	–	–	2,616,753
SHELL OIL AND GAS (MALAYSIA) LLC	–		595,653	–		–	–	–	595,653
SHELL SABAH SELATAN SENDRIAN BERHAD	–		4,124,081	–		–	–	–	4,124,081
Total	2,317,002,807		305,924,901	500,008,822		–	–	–	3,122,936,530

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $301,048,915 for 3,355 thousand barrels of oil equivalent (kboe) valuated at market price.

[B] Includes payment in kind of $342,702,511 for 3,909 kboe valuated at market price and $126,357,852 for 6,336 kboe valuated at fixed price.

[C] Includes payment in kind of $59,554,178 for 3,011 kboe valuated at fixed price and $15,102,678 for 201 kboe valuated at market price.

[D] Includes payment in kind of $783,520,240 for 8,933 kboe valuated at market price and $209,732,743 for 10,921 kboe valuated at fixed price.

[E] Includes payment in kind of $624,146,940 for 7,163 kboe valuated at market price and $327,071,533 for 16,397 kboe valuated at fixed price.

[F] Includes payment in kind of $1,435,194,825 for 15,977 kboe valuated at market price.

[G] Includes payment in kind of $297,371,578 for 3,339 kboe valuated at market price.

[H] Includes payment in kind of $596,358,454 for 30,329 kboe valuated at fixed price and $288,623,948 for 3,675 kboe valuated at market price.

[I] Includes payment in kind of $126,357,852 for 6,336 kboe valuated at fixed price and $45,330,933 for 570 kboe valuated at market price.

Oman

Government report (in USD) [1]
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
MINISTRY OF ENERGY AND MINERALS	633,711,368	[A]	–	–	–	–	–	633,711,368
MINISTRY OF FINANCE	–		3,954,062,451	–	–	900,000	–	3,954,962,451
Total	633,711,368		3,954,062,451	–	–	900,000	–	4,588,673,819

Project report (in USD)
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
BLOCK 6 CONCESSION	–		3,954,062,451	–	–	–	–	3,954,062,451
BLOCK 10 CONCESSION	633,711,368	[A]	–	–	–	400,000	–	634,111,368
BLOCK 11 CONCESSION	–		–	–	–	250,000	–	250,000
BLOCK 55 CONCESSION	–		–	–	–	250,000	–	250,000
Total	633,711,368		3,954,062,451	–	–	900,000	–	4,588,673,819

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $60,839,756 for 4,551 kboe valuated at fixed price and of $572,871,612 for 7,095 kboe valuated at the government’s selling price.

Qatar

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
QATARENERGY	1,801,453,896	1,507,244,066	–	–	30,538,723	–	3,339,236,685
Total	1,801,453,896	1,507,244,066	–	–	30,538,723	–	3,339,236,685

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
PEARL GTL	1,801,453,896	1,507,244,066	–	–	30,538,723	–	3,339,236,685
Total	1,801,453,896	1,507,244,066	–	–	30,538,723	–	3,339,236,685

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Australia

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
AUSTRALIAN TAXATION OFFICE	–	1,277,737,693	–	–	–	–	1,277,737,693
BANANA SHIRE COUNCIL	–	–	–	–	217,920	–	217,920
FEDERAL DEPARTMENT OF INDUSTRY, SCIENCE AND RESOURCES	–	–	111,989,284	–	–	–	111,989,284
QUEENSLAND REVENUE OFFICE	–	–	356,590,166	–	–	–	356,590,166
QUEENSLAND DEPARTMENT OF ENVIRONMENT AND SCIENCE	–	–	–	–	935,554	–	935,554
QUEENSLAND DEPARTMENT OF NATURAL RESOURCES AND MINES	–	–	–	–	581,472	–	581,472
RESOURCES SAFETY AND HEALTH QUEENSLAND	–	–	–	–	1,359,992	–	1,359,992
WESTERN DOWNS REGIONAL COUNCIL	–	–	–	–	10,317,519	266,428	10,583,947
Total	–	1,277,737,693	468,579,450	–	13,412,457	266,428	1,759,996,028

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
NORTH WEST SHELF	–	–	111,989,284	–	–	–	111,989,284
QGC	–	583,570,540	356,590,166	–	13,412,457	266,428	953,839,591
Entity level payment
SHELL AUSTRALIA PTY LTD	–	694,167,153	–	–	–	–	694,167,153
Total	–	1,277,737,693	468,579,450	–	13,412,457	266,428	1,759,996,028

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Egypt

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
EGYPTIAN GENERAL PETROLEUM CORPORATION	–	41,164,348	–	1,836,435	–	–	43,000,783
Total	–	41,164,348	–	1,836,435	–	–	43,000,783

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
EGYPT OFFSHORE DEVELOPMENT	–	41,164,348	–	540,000	–	–	41,704,348
Entity level payment
SHELL EGYPT N.V.	–	–	–	1,296,435	–	–	1,296,435
Total	–	41,164,348	–	1,836,435	–	–	43,000,783

[I] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Nigeria

Government report (in USD) [1]
	Production entitlements		Taxes		Royalties		Bonuses	Fees	Infrastructure improvements	Total
Governments
FEDERAL INLAND REVENUE SERVICE	–		648,734,398	[A]	–		–	–	–	648,734,398
NATIONAL AGENCY FOR SCIENCE AND ENGINEERING INFRASTRUCTURE	–		–		–		–	3,931,917	–	3,931,917
NIGER DELTA DEVELOPMENT COMMISSION	–		–		–		–	97,260,899	–	97,260,899
NIGERIAN NATIONAL PETROLEUM CORPORATION	3,804,949,166	[B]	–		–		–	–	–	3,804,949,166
NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION	–		–		780,231,463	[C]	–	1,732,350	–	781,963,813
Total	3,804,949,166		648,734,398		780,231,463		–	102,925,166	–	5,336,840,193

Project report (in USD)
	Production entitlements		Taxes		Royalties		Bonuses	Fees	Infrastructure improvements	Total
Projects
EAST ASSET	1,300,681,939	[D]	–		–		–	–	–	1,300,681,939
PSC 1993 (OML 133)	–		136,652,153	[E]	–		–	–	–	136,652,153
PSC 1993 (OPL 212/OML 118, OPL 219/OML 135)	649,948,707	[F]	303,125,852	[G]	452,170,096	[H]	–	32,015,797	–	1,437,260,452
WEST ASSET	1,854,318,520	[I]	–		–		–	–	–	1,854,318,520
Entity level payment
SHELL NIGERIA EXPLORATION AND PRODUCTION COMPANY LIMITED			–		–		–	440,468	–	440,468
THE SHELL PETROLEUM DEVELOPMENT COMPANY OF NIGERIA LIMITED			208,956,393		328,061,367			70,468,901		607,486,661
Total	3,804,949,166		648,734,398		780,231,463		–	102,925,166	–	5,336,840,193

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $439,778,005 for 5,293 kboe valuated at market price.

[B] Includes payment in kind of $3,804,949,166 for 80,289 kboe valuated at market price.

[C] Includes payment in kind of $452,170,096 for 5,432 kboe valuated at market price.

[D] Includes payment in kind of $1,300,681,939 for 49,766 kboe valuated at market price.

[E] Includes payment in kind of $136,652,153 for 1,654 kboe valuated at market price.

[F] Includes payment in kind of $649,948,707 for 7,916 kboe valuated at market price.

[G] Includes payment in kind of $303,125,852 for 3,639 kboe valuated at market price.

[H] Includes payment in kind of $452,170,096 for 5,432 kboe valuated at market price.

[I] Includes payment in kind of $1,854,318,520 for 22,607 kboe valuated at market price.

Sao Tome and Principe

	Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
AGÊNCIA NACIONAL DO PETRÓLEO DE SÃO TOMÉ E PRÍNCIPE	–	–	–	1,300,000	–	–	1,300,000
Total	–	–	–	1,300,000	–	–	1,300,000

	Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
DW BLOCK 4	–	–	–	1,300,000	–	–	1,300,000
Total	–	–	–	1,300,000	–	–	1,300,000

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Tanzania

	Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
PETROLEUM UPSTREAM REGULATORY AUTHORITY	–	–	–	–	140,000	–	140,000
Total	–	–	–	–	140,000	–	140,000

	Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
BLOCK 1 AND 4	–	–	–	–	140,000	–	140,000
Total	–	–	–	–	140,000	–	140,000

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Tunisia

	Government report (in USD) [1]
	Production entitlements	Taxes	Royalties		Bonuses	Fees	Infrastructure improvements	Total
Governments
ENTREPRISE TUNISIENNE D’ACTIVITÉS PÉTROLIÈRES	–	–	2,140,627	[A]	–	–	–	2,140,627
LE RECEVEUR DES FINANCES DU LAC	–	24,904,580	2,801,006		–	–	–	27,705,586
Total	–	24,904,580	4,941,633		–	–	–	29,846,213

	Project report (in USD)
	Production entitlements	Taxes	Royalties		Bonuses	Fees	Infrastructure improvements	Total
Projects
HASDRUBAL CONCESSION	–	24,904,580	4,941,633	[A]	–	–	–	29,846,213
Total	–	24,904,580	4,941,633		–	–	–	29,846,213

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $2,140,627 for 37 kboe valuated at market price.

Canada

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
GOVERNMENT OF ALBERTA	–	–	656,638	–	119,099	–	775,737
MINISTRY OF FINANCE (BRITISH COLUMBIA)	–	–	2,915,313	–	625,526	–	3,540,839
MINISTRY OF JOBS, ECONOMIC DEVELOPMENT AND INNOVATION (BRITISH COLUMBIA)	–	–	–	–	679,158	–	679,158
PROVINCIAL TREASURER OF ALBERTA	–	60,864,405	–	–	–	–	60,864,405
RECEIVER GENERAL FOR CANADA	–	111,702,667	1,126,040	–	–	–	112,828,707
Total	–	172,567,072	4,697,991	–	1,423,783	–	178,688,846

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
ATHABASCA OIL SANDS	–	172,567,072	–	–	–	–	172,567,072
FOOTHILLS	–	–	1,126,040	–	–	–	1,126,040
GREATER DEEP BASIN	–	–	656,638	–	119,099	–	775,737
GROUNDBIRCH	–	–	2,915,313	–	1,304,684	–	4,219,997
Total	–	172,567,072	4,697,991	–	1,423,783	–	178,688,846

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Mexico

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
FONDO MEXICANO DEL PETRÓLEO PARA LA ESTABILIZACIÓN Y EL DESARROLLO	–	–	–	–	17,154,483	–	17,154,483
SERVICIO DE ADMINISTRACIÓN TRIBUTARIA	–	–	–	–	4,372,519	–	4,372,519
Total	–	–	–	–	21,527,002	–	21,527,002

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Entity level payment
MEXICO EXPLORATION DEEPWATER	–	–	–	–	21,527,002	–	21,527,002
Total	–	–	–	–	21,527,002	–	21,527,002

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

USA

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
ALASKA DEPARTMENT OF NATURAL RESOURCES	–	–	–	–	243,408	–	243,408
COMMONWEALTH OF PENNSYLVANIA	–	-400,000	–	–	–	–	-400,000
INTERNAL REVENUE SERVICE	–	53,638,500	–	–	–	–	53,638,500
LOUISIANA DEPARTMENT OF TRANSPORTATION AND DEVELOPMENT	–	–	–	–	–	860,822	860,822
OFFICE OF NATURAL RESOURCES REVENUE	–	–	1,187,594,021	–	80,435,119	–	1,268,029,140
Total	–	53,238,500	1,187,594,021	–	80,678,527	860,822	1,322,371,870

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
ALASKA EXPLORATION	–	–	–	–	243,408	–	243,408
GULF OF AMERICA (CENTRAL)	–	–	1,076,187,269	–	282,312	–	1,076,469,581
GULF OF AMERICA (WEST)	–	–	111,406,752	–	126,720	–	111,533,472
GULF OF AMERICA EXPLORATION	–	–	–	–	80,026,087	–	80,026,087
Entity level payment
SHELL EXPLORATION AND PRODUCTION COMPANY	–	-400,000	–	–	–	–	-400,000
SHELL OFFSHORE INC.	–	–	–	–	–	860,822	860,822
SHELL PETROLEUM INC.	–	53,638,500	–	–	–	–	53,638,500
Total	–	53,238,500	1,187,594,021	–	80,678,527	860,822	1,322,371,870

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Argentina

Government report (in USD) [1]
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
AGENCIA DE RECAUDACIÓN Y CONTROL ADUANERO	–		1,984,309	–	–	–	–	1,984,309
GAS Y PETRÓLEO DEL NEUQUÉN S.A.	53,082,051	[A]	–	–	–	–	–	53,082,051
PROVINCIA DE SALTA	–		–	2,475,819	–	–	–	2,475,819
PROVINCIA DEL NEUQUÉN	–		–	141,493,849	–	123,276	–	141,617,125
Total	53,082,051		1,984,309	143,969,668	–	123,276	–	199,159,304

Project report (in USD)
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
ACAMBUCO	–		–	2,475,819	–	–	–	2,475,819
ARGENTINA UNCONVENTIONAL PROJECTS	53,082,051	[A]	1,984,309	141,493,849	–	123,276	–	196,683,485
Total	53,082,051		1,984,309	143,969,668	–	123,276	–	199,159,304

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $53,082,051 for 785 kboe valuated at market price.

Brazil

Government report (in USD) [1]
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
AGÊNCIA NACIONAL DO PETRÓLEO GÁS NATURAL E BIOCOMBUSTÍVEIS	–		–	–	9,540,351	–	–	9,540,351
MINISTÉRIO DA FAZENDA	–		–	1,147,687,680	–	1,556,282,443	–	2,703,970,123
PRÉ-SAL PETRÓLEO S.A.	327,688,819	[A]	–	–	–	–	–	327,688,819
RECEITA FEDERAL DO BRASIL	–		656,740,954	–	–	–	–	656,740,954
Total	327,688,819		656,740,954	1,147,687,680	9,540,351	1,556,282,443	–	3,697,940,247

Project report (in USD)
	Production entitlements		Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
BASIN EXPLORATION PROJECTS	–		–	–	9,540,351	3,244,993	–	12,785,344
BC-10	–		–	31,254,519	–	1,251,598	–	32,506,117
BIJUPIRA AND SALEMA	–		–	–	–	501,608	–	501,608
BM-S-9, BM-S-9A, BM-S-11, BM-S-11A AND ENTORNO DE SAPINHOÁ	29,716,011	[B]	–	882,483,636	–	1,551,284,244	–	2,463,483,891
LIBRA PSC	297,972,808	[C]	–	233,949,525	–	–	–	531,922,333
Entity level payment
SHELL BRASIL PETROLEO LTDA.	–		656,740,954	–	–	–	–	656,740,954
Total	327,688,819		656,740,954	1,147,687,680	9,540,351	1,556,282,443	–	3,697,940,247

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $327,688,819 for 4,585 kboe valuated at market price.

[B] Includes payment in kind of $29,716,011 for 410 kboe valuated at market price.

[C] Includes payment in kind of $297,972,808 for 4,175 kboe valuated at market price.

Colombia

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
AGENCIA NACIONAL DE HIDROCARBUROS	–	–	–	–	489,880	–	489,880
Total	–	–	–	–	489,880	–	489,880

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
COLOMBIA EXPLORATION (OPERATED)	–	–	–	–	489,880	–	489,880
Total	–	–	–	–	489,880	–	489,880

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Trinidad and Tobago

Government report (in USD) [1]
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Governments
MINISTRY OF FINANCE	–	561,771	–	–	–	–	561,771
MINISTRY OF ENERGY AND ENERGY INDUSTRIES	362,690,585	–	2,210,566	300,000	13,719,070	–	378,920,221
Total	362,690,585	561,771	2,210,566	300,000	13,719,070	–	379,481,992

Project report (in USD)
	Production entitlements	Taxes	Royalties	Bonuses	Fees	Infrastructure improvements	Total
Projects
BLOCK 5C	84,428,910	–	–	–	1,714,071	–	86,142,981
CENTRAL BLOCK	–	561,771	2,210,566	–	900,921	–	3,673,258
COLIBRI	120,876,414	–	–	–	3,332,208	–	124,208,622
DEEPWATER ATLANTIC AREA	–	–	–	–	537,570	–	537,570
EAST COAST MARINE AREA	99,098,428	–	–	–	2,100,156	–	101,198,584
EXPLORATION	–	–	–	300,000	2,017,530	–	2,317,530
MANATEE	–	–	–	–	847,999	–	847,999
NORTH COAST MARINE AREA 1	58,286,833	–	–	–	2,268,615	–	60,555,448
Total	362,690,585	561,771	2,210,566	300,000	13,719,070	–	379,481,992

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Cautionary note
The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this Report “Shell”, “Shell Group” and “Group” are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this Report refer to entities over which Shell plc either directly or indirectly has control. The terms “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

The MIL Network –

May 15, 2025

MIL-OSI: Calfrac Reports First Quarter 2025 Results with Record Financial Performance in Argentina

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, May 15, 2025 (GLOBE NEWSWIRE) — Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) announces its financial and operating results for the three months ended March 31, 2025. The following press release should be read in conjunction with the management’s discussion and analysis and interim consolidated financial statements and notes thereto as at March 31, 2025. Readers should also refer to the “Forward-looking statements” legal advisory and the section regarding “Non-GAAP Measures” at the end of this press release. All financial amounts and measures are expressed in Canadian dollars unless otherwise indicated. Additional information about Calfrac is available on the SEDAR+ website at www.sedarplus.ca, including the Company’s Annual Information Form for the year ended December 31, 2024.

CFO’S MESSAGE

Calfrac achieved revenue of $370.1 million during the first quarter in 2025, a 3 percent decline from the fourth quarter in 2024, primarily due to a normal seasonal slowdown in activity in the Rockies region of North America. As experienced over the last couple of years, activity in the Rockies region continues to be very challenging during the first quarter due to limited customer activity, resulting from the higher costs of operating in extreme cold weather. However, the Company’s Argentina operations delivered a sequential increase in revenue of 56 percent as it operated two unconventional fracturing spreads in the Vaca Muerta shale play for a portion of the first quarter.

Calfrac’s Chief Financial Officer, Mike Olinek commented: “I am very pleased with the strong operating and financial performance demonstrated by Calfrac’s team in Argentina during the first quarter and look forward to building on this positive momentum throughout the remainder of the year. I am also confident that the Company’s North American DGB fracturing fleets will remain in high demand and allow us to successfully navigate any potential slowdown in North America and deliver on our strategic priorities.”

SELECT FINANCIAL HIGHLIGHTS – CONTINUING OPERATIONS

	Three Months Ended Mar. 31,
	2025		2024		Change
(C$000s, except per share amounts)	*($)*		($)		(%)
(unaudited)
Revenue	370,057		330,096		12
Adjusted EBITDA⁽¹⁾	55,317		26,057		112
Cash flows provided by operating activities	(7,050	)	11,958		NM
Capital expenditures	42,132		48,072		(12	)
Net income (loss)	7,796		(2,903	)	NM
Per share – basic	0.09		(0.03	)	NM
Per share – diluted	0.09		(0.03	)	NM

As at	Mar. 31,	Dec. 31,	Change
	2025	2024
(C$000s)	*($)*	($)	(%)
(unaudited)
Cash and cash equivalents	15,463	44,045	(65	)
Working capital, end of period⁽²⁾	266,087	229,856	16
Total assets, end of period	1,254,979	1,234,840	2
Long-term debt, end of period	341,095	320,908	6
Net debt⁽¹⁾⁽³⁾	348,674	300,347	16
Total consolidated equity, end of period	660,262	653,330	1

⁽¹⁾Refer to “Non-GAAP Measures” on page 6 for further information.
⁽²⁾Working capital excludes cash and cash equivalents and the current portion of long-term debt of $341.1 million.
⁽³⁾Refer to note 10 of the consolidated interim financial statements for further information.

FIRST QUARTER OVERVIEW

In the first quarter of 2025, the Company:

generated revenue of $370.1 million, an increase of 12 percent from the first quarter in 2024 resulting primarily from higher pricing and activity in Argentina, offset partially by lower pricing in North America;
reported Adjusted EBITDA of $55.3 million versus $26.1 million in the first quarter of 2024 due to record quarterly financial results in Argentina with the commencement of a second large fracturing fleet in the Vaca Muerta shale play during a portion of the first quarter;
had cash flow from operating activities of negative $7.1 million, which included $12.7 million of interest paid and cash used for working capital purposes of $35.0 million, as compared to $12.0 million in the first quarter of 2024, which was net of $9.7 million of interest paid and cash used for working capital purposes of $1.6 million;
reported net income from continuing operations of $7.8 million or $0.09 per share diluted compared to a net loss of $2.9 million or $0.03 per share diluted during the first quarter in 2024;
had a cash position of $15.5 million of which approximately 70 percent was held in Argentina. The Argentina cash balance includes an investment of US$6.1 million in Argentinean government bonds (BOPREAL Bonds) that will be repatriated to Canada before the end of the third quarter in 2025;
reported an increase in period-end working capital to $266.1 million from $229.9 million at December 31, 2024, primarily due to an increase in revenue in the first quarter of 2025 with a greater proportion generated from Argentina, which has longer lead times to collection than North America; and
incurred capital expenditures of $42.1 million, which included approximately $22.3 million of expansion capital in Argentina and $9.3 million related to the Company’s fracturing fleet modernization program in North America, including auxiliary support equipment.

FINANCIAL OVERVIEW – CONTINUING OPERATIONS
THREE MONTHS AND YEARS ENDED MARCH 31, 2025 VERSUS 2024

NORTH AMERICA

	Three Months Ended Mar. 31,
	2025	2024	Change
(C$000s, except operational and exchange rate information)	*($)*	($)	(%)
(unaudited)
Revenue	227,902	248,959	(8	)
Adjusted EBITDA⁽¹⁾	6,131	14,872	(59	)
Adjusted EBITDA (%)⁽¹⁾	2.7	6.0	(55	)
Fracturing revenue per job ($)	25,060	33,518	(25	)
Number of fracturing jobs	8,709	7,176	21
Active pumping horsepower, end of year (000s)	898	951	(6	)
US$/C$ average exchange rate⁽²⁾	1.4352	1.3486	6

⁽¹⁾Refer to “Non-GAAP Measures” on page 6 for further information.
⁽²⁾Source: Bank of Canada.

OUTLOOK

The uncertainty caused by geopolitical tensions, OPEC+ supply increases, and changes to the United States trade and tariff regimes, have affected the economic outlook for the global economy and triggered a recent decline in near-term crude oil prices. While activity in North America has not been significantly impacted as yet, oil-weighted completion activity is expected to be lower year-over-year, but more resilient than past cycles as a focus on capital discipline by the E&P sector has resulted in activity that only supports the maintenance of current production levels. However, completions activity within the Company’s natural gas producing regions in North America is anticipated to be slightly higher than the previous year given the relative strength in natural gas prices.

The Company has been evaluating the implication of tariffs across its North American operations over the last few months and has commenced with mitigation efforts, wherever possible, including seeking applicable tariff exemptions for critical items that are sourced from the United States.

Calfrac’s previously announced Tier IV modernization program is nearing completion. These strategic investments in next-generation Dynamic Gas Blending (“DGB”) pumping technology have resulted in the Company exiting the quarter with the equivalent of five Tier IV DGB fleets operating in the field. Calfrac’s dual-fuel capable fracturing fleets in North America are expected to remain in high demand during the second quarter, despite the current headwinds, and fleet utilization is expected to increase sequentially from the first quarter as certain clients in the Rockies region commence with their 2025 programs.

THREE MONTHS ENDED MARCH 31, 2025 COMPARED TO THREE MONTHS ENDED MARCH 31, 2024

REVENUE

Revenue from Calfrac’s North American operations decreased to $227.9 million during the first quarter of 2025 from $249.0 million in the comparable quarter of 2024. The Company’s North American activity was impacted by extreme cold weather and was significantly lower than the comparable quarter in 2024 despite the 21 percent increase in the number of jobs completed. The Company’s client mix was different than the comparable period in 2024 with the completion of a larger quantity of smaller jobs, which also impacted the fracturing revenue per job. The Company reduced its operating footprint to 11 active fracturing fleets to begin the first quarter to address the seasonal challenges experienced in the Rockies region. The Company recommenced operations in the Appalachian basin in January with an additional fracturing crew, which helped offset the lower revenue experienced in the Rockies. Pricing in North America was lower relative to the comparable quarter in 2024, which contributed to the 8 percent reduction in revenue. Coiled tubing revenue was consistent with the first quarter in 2024 as slightly lower activity was offset by the completion of larger jobs.

ADJUSTED EBITDA

The Company’s operations in North America generated Adjusted EBITDA of $6.1 million or 3 percent of revenue during the first quarter of 2025 compared to $14.9 million or 6 percent of revenue in the same period in 2024. This decrease was primarily due to the decline in fracturing fleet utilization and lower pricing.

ARGENTINA

	Three Months Ended Mar. 31,
	2025	2024	Change
(C$000s, except operational and exchange rate information)	*($)*	($)	(%)
(unaudited)
Revenue	142,155	81,137	75
Adjusted EBITDA⁽¹⁾	53,265	16,100	231
Adjusted EBITDA (%)⁽¹⁾	37.5	19.8	89
Fracturing revenue per job ($)	124,874	74,354	68
Number of fracturing jobs	741	672	10
Active pumping horsepower, end of period (000s)	153	139	10
US$/C$ average exchange rate⁽²⁾	1.4352	1.3486	6

⁽¹⁾Refer to “Non-GAAP Measures” on page 6 for further information.
⁽²⁾Source: Bank of Canada.

OUTLOOK

Argentina continued to demonstrate year-over-year operational and financial improvement by achieving record quarterly financial performance during the first quarter of 2025. Calfrac expects its full-year financial results in Argentina will be very strong, building on the significant momentum generated during the first quarter. The Company benefited from spot work for its second large fracturing fleet in the Vaca Muerta shale play during the first quarter at operating margins that are not expected to be maintained during the remainder of the year. The Company’s 2025 capital program also contemplates the addition of in-house wireline capabilities in Argentina during the fourth quarter which will further bolster its service offering in Neuquén. Recent Argentina government announcements related to the cash repatriation regime in that country reaffirm the Company’s expectations of a greater ability to repatriate excess cash flow following the completion of its significant 2025 capital program.

THREE MONTHS ENDED MARCH 31, 2025 COMPARED TO THREE MONTHS ENDED MARCH 31, 2024

REVENUE

Calfrac’s Argentinean operations generated revenue of $142.2 million during the first quarter of 2025 versus $81.1 million in the comparable quarter in 2024. The 75 percent increase in revenue was driven by improved pricing for spot work and an increase in the number of fracturing jobs completed during the quarter. The Company operated two unconventional fracturing fleets in the Vaca Muerta shale play for a portion of the first quarter. The Company also demonstrated growth in activity across its other service lines as the Company permanently transferred equipment from Las Heras to Neuquén following the completion of a long-term contract. The Company’s offshore coiled tubing unit also contributed to the increase in revenue versus the comparable quarter in 2024.

ADJUSTED EBITDA

The Company’s operations in Argentina generated Adjusted EBITDA of $53.3 million during the first quarter of 2025 compared to $16.1 million in the same quarter of 2024, while the Company’s Adjusted EBITDA margins increased to 37 percent from 20 percent. This increase was primarily due to the significant revenue growth and efficiencies resulting from operating two unconventional fracturing fleets simultaneously during parts of the quarter and higher pricing for spot work. In addition, the Company received an early termination fee related to the closure of its operations in Las Heras following the completion of a long-term contract with a major client in that region. This revenue offset costs that were incurred in 2024 to permanently close this district.

SUMMARY OF QUARTERLY RESULTS – CONTINUING OPERATIONS

Three Months Ended	Jun. 30,	Sep. 30,	Dec. 31,	Mar. 31,		Jun. 30,	Sep. 30,		Dec. 31,		Mar. 31,
	2023	2023	2023	2024		2024	2024		2024		2025
(C$000s, except per share and operating data)	($)	($)	($)	($)		($)	($)		($)		*($)*
(unaudited)
Financial
Revenue	466,463	483,093	421,402	330,096		426,047	430,109		381,230		370,057
Adjusted EBITDA⁽¹⁾	87,785	91,286	62,591	26,057		65,386	65,039		34,512		55,317
Net income (loss)	50,531	97,523	13,202	(2,903	)	24,549	(6,687	)	(6,424	)	7,796
Per share – basic	0.62	1.20	0.16	(0.03	)	0.29	(0.08	)	(0.07	)	0.09
Per share – diluted	0.58	1.09	0.15	(0.03	)	0.29	(0.08	)	(0.07	)	0.09
Capital expenditures	30,718	50,825	49,397	48,072		66,753	22,509		32,955		42,132

⁽¹⁾Refer to “Non-GAAP Measures” on page 6 for further information.

CAPITAL EXPENDITURES – CONTINUING OPERATIONS

	Three Months Ended Mar. 31,
	2025	2024	Change
(C$000s)	*($)*	($)	(%)
North America	12,941	37,174	(65	)
Argentina	29,191	10,898	168
Continuing Operations	42,132	48,072	(12	)

Capital expenditures were $42.1 million for the three months ended March 31, 2025, which included approximately $22.3 million of expansion capital in Argentina and $9.3 million related to the Company’s fracturing fleet modernization program in North America, including auxiliary support equipment versus $48.1 million in the comparable period in 2024.

Calfrac’s Board of Directors approved a 2025 capital budget totalling approximately $135.0 million. The program includes approximately $50.0 million to facilitate the expansion of the Company’s fracturing operations in the Vaca Muerta shale play in Argentina that will be funded locally from cash flow. The 2025 Argentina capital program includes additional fracturing pumping units, an expansion of the Company’s deep coiled tubing capabilities and the introduction of in-house wireline services. The balance of the 2025 program will fund maintenance capital for all operating divisions as well as additional investments in the North American Tier IV fleet modernization program and coiled tubing fleet. Due to a delay in spending related to the Company’s 2024 capital program, approximately $30.0 million of 2024 capital commitments will be funded in 2025, mainly related to the expansion in Argentina, of which approximately $20.0 million occurred during the first quarter.

NON-GAAP MEASURES

Certain supplementary measures presented in this press release, including Adjusted EBITDA, Adjusted EBITDA percentage and Net Debt do not have any standardized meaning under IFRS and, because IFRS have been incorporated as Canadian generally accepted accounting principles (GAAP), these supplementary measures are also non-GAAP measures. These measures have been described and presented to provide shareholders and potential investors with additional information regarding the Company’s financial results, liquidity and ability to generate funds to finance its operations. These measures may not be comparable to similar measures presented by other entities, and are explained below.

Adjusted EBITDA is defined as net income or loss for the period less interest, taxes, depreciation and amortization, foreign exchange losses (gains), non-cash stock-based compensation, and gains and losses that are extraordinary or non-recurring. Adjusted EBITDA is presented because it gives an indication of the results from the Company’s principal business activities prior to consideration of how its activities are financed and the impact of foreign exchange, taxation and depreciation and amortization charges. Adjusted EBITDA is used by management to evaluate the performance of the Company and is also used as a basis for monitoring the Company’s compliance with covenants under the revolving credit facility. Adjusted EBITDA for the period was calculated as follows:

	Three Months Ended March 31,
	2025		2024
(C$000s)	*($)*		($)

Net income (loss) from continuing operations	7,796		(2,903	)
Add back (deduct):
Depreciation	31,922		27,995
Foreign exchange losses (gains)	1,693		(1,049	)
Loss (gain) on disposal of property, plant and equipment	124		(6,241	)
Restructuring charges	516		—
Stock-based compensation	(925	)	2,185
Interest, net	7,944		6,032
Income taxes	6,247		38
Adjusted EBITDA from continuing operations	55,317		26,057
Less: IFRS 16 lease payments	(3,679	)	(3,235	)
Less: Argentina EBITDA threshold adjustment⁽¹⁾	(45,397	)	(5,428	)
Bank EBITDA for covenant purposes	6,241		17,394

⁽¹⁾Refer to note 4 of the Company’s interim consolidated financial statements for the three months ended March 31, 2025.

Adjusted EBITDA percentage is a non-GAAP financial ratio that is determined by dividing Adjusted EBITDA by revenue for the corresponding period.

Net Debt is defined as long-term debt less unamortized debt issuance costs plus lease obligations, less cash and cash equivalents from continuing operations. The calculation of net debt is disclosed in note 10 to the Company’s interim consolidated financial statements for the corresponding period.

OTHER NON-STANDARD FINANCIAL TERMS

MAINTENANCE AND EXPANSION CAPITAL

Maintenance capital refers to expenditures in respect of capital additions, replacements or improvements required to maintain ongoing business operations. Expansion capital refers to expenditures primarily for new items, upgrades and/or equipment that will expand the Company’s revenue and/or reduce its expenditures through operating efficiencies. The determination of what constitutes maintenance capital expenditures versus expansion capital involves judgement by management.

BUSINESS RISKS

The business of Calfrac is subject to certain risks and uncertainties. Prior to making any investment decision regarding Calfrac, investors should carefully consider, among other things, the risk factors set forth in the Company’s most recently filed Annual Information Form under the heading “Risk Factors” which is available on the SEDAR+ website at www.sedarplus.ca under the Company’s profile. Copies of the Annual Information Form may also be obtained on request without charge from Calfrac at Suite 500, 407 – 8th Avenue S.W., Calgary, Alberta, Canada, T2P 1E5, or at www.calfrac.com.

ADDITIONAL INFORMATION

Calfrac’s common shares are publicly traded on the Toronto Stock Exchange under the trading symbol “CFW”.

Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells with continuing operations focused throughout western Canada, the United States and Argentina. During the first quarter of 2022, management committed to a plan to sell the Company’s Russian division, resulting in the associated assets and liabilities being classified as held for sale and presented in the Company’s financial statements as discontinued operations. The results of the Company’s discontinued operations are excluded from the discussion and figures presented above unless otherwise noted. See Note 4 to the Company’s annual consolidated financial statements for the year ended December 31, 2024 for additional information on the Company’s discontinued operations.

Further information regarding Calfrac Well Services Ltd., including the most recently filed Annual Information Form, can be accessed on the Company’s website at www.calfrac.com or under the Company’s public filings found at www.sedarplus.ca.

FIRST QUARTER CONFERENCE CALL AND AGM UPDATE

Calfrac will no longer be conducting the previously announced conference call to review its 2025 first-quarter results on Thursday, May 15, 2025. Any interested parties can reach out to Mike Olinek, Chief Financial Officer at the contact information below should they wish to ask any questions regarding the Company’s quarterly financial results.

The Company will be holding its Annual General Meeting at 1:30 pm on Thursday May 15, 2025 in the Viking Room of the Calgary Petroleum Club.

CONSOLIDATED BALANCE SHEETS

	March 31,		December 31,
	2025		2024
(C$000s)	*($)*		($)
ASSETS
Current assets
Cash and cash equivalents	15,463		44,045
Accounts receivable	306,957		251,108
Inventories	130,596		145,506
Prepaid expenses and deposits	21,797		26,452
	474,813		467,111
Assets classified as held for sale	47,053		45,335
	521,866		512,446
Non-current assets
Property, plant and equipment	684,123		673,381
Right-of-use assets	19,990		20,013
Deferred income tax assets	29,000		29,000
	733,113		722,394
Total assets	1,254,979		1,234,840
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued liabilities	160,129		173,974
Income taxes payable	23,301		9,700
Current portion of long-term debt	341,095		150,000
Current portion of lease obligations	9,833		9,536
	534,358		343,210
Liabilities directly associated with assets classified as held for sale	32,677		30,945
	567,035		374,155
Non-current liabilities
Long-term debt	—		170,908
Lease obligations	13,209		13,948
Deferred income tax liabilities	14,473		22,499
	27,682		207,355
Total liabilities	594,717		581,510
Capital stock	911,900		911,785
Contributed surplus	76,190		77,159
Accumulated deficit	(373,875	)	(379,490	)
Accumulated other comprehensive income	46,047		43,876
Total equity	660,262		653,330
Total liabilities and equity	1,254,979		1,234,840

CONSOLIDATED STATEMENTS OF OPERATIONS

	Three Months Ended March 31,
	2025		2024
(C$000s, except per share data)	*($)*		($)

Revenue	370,057		330,096
Cost of sales	330,576		316,208
Gross profit	39,481		13,888
Expenses
Selling, general and administrative	15,677		18,011
Foreign exchange losses (gains)	1,693		(1,049	)
Loss (gain) on disposal of property, plant and equipment	124		(6,241	)
Interest, net	7,944		6,032
	25,438		16,753
Income (loss) before income tax	14,043		(2,865	)
Income tax expense (recovery)
Current	14,240		6,414
Deferred	(7,993	)	(6,376	)
	6,247		38
Net income (loss) from continuing operations	7,796		(2,903	)
Net (loss) income from discontinued operations	(2,181	)	750
Net income (loss)	5,615		(2,153	)

Earnings (loss) per share – basic
Continuing operations	0.09		(0.03	)
Discontinued operations	(0.03	)	0.01
	0.07		(0.02	)

Earnings (loss) per share – diluted
Continuing operations	0.09		(0.03	)
Discontinued operations	(0.03	)	0.01
	0.07		(0.02	)

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Three Months Ended March 31,
	2025		2024
(C$000s)	*($)*		($)
CASH FLOWS PROVIDED BY (USED IN)			Restated
OPERATING ACTIVITIES
Net income (loss)	7,796		(2,903	)
Adjusted for the following:
Depreciation	31,922		27,995
Stock-based compensation	(925	)	2,185
Unrealized foreign exchange losses	1,846		2,627
Loss (gain) on disposal of property, plant and equipment	124		(6,241	)
Interest	7,944		6,032
Interest paid	(12,716	)	(9,717	)
Deferred income taxes	(7,993	)	(6,376	)
Changes in items of working capital	(35,048	)	(1,644	)
Cash flows (used in) provided by operating activities from continuing operations	(7,050	)	11,958
Cash flows provided by (used in) operating activities from discontinued operations	10,231		(8,185	)
Net cash flows provided by operating activities	3,181		3,773
INVESTING ACTIVITIES
Purchase of property, plant and equipment	(38,498	)	(55,727	)
Proceeds on disposal of property, plant and equipment	1,553		11,508
Proceeds on disposal of right-of-use assets	206		227
Cash flows used in investing activities from continuing operations	(36,739	)	(43,992	)
Cash flows used in investing activities from discontinued operations	(1,457	)	(678	)
Net cash flows used in investing activities	(38,196	)	(44,670	)
FINANCING ACTIVITIES
Issuance of long-term debt, net of debt issuance costs	30,000		60,000
Long-term debt repayments	(10,000	)	—
Lease obligation principal repayments	(3,244	)	(2,840	)
Proceeds on issuance of common shares from the exercise of stock options	71		—
Cash flows provided by financing activities from continuing operations	16,827		57,160
Cash flows provided by financing activities from discontinued operations	—		—
Net cash flows provided by financing activities	16,827		57,160
Effect of exchange rate changes on cash and cash equivalents	550		(1,464	)
(Decrease) increase in cash and cash equivalents	(17,638	)	14,799
Cash and cash equivalents, beginning of period	50,776		45,190
Cash and cash equivalents, end of period	33,138		59,989
Included in the cash and cash equivalents per the balance sheet	15,463		58,239
Included in the assets held for sale/discontinued operations	17,675		1,750

ADVISORIES

FORWARD-LOOKING STATEMENTS

In order to provide Calfrac shareholders and potential investors with information regarding the Company and its subsidiaries, including management’s assessment of Calfrac’s plans and future operations, certain statements contained in this press release, including statements that contain words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “forecast” or similar words suggesting future outcomes, are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements”).

In particular, forward-looking statements in this press release include, but are not limited to, statements with respect to the expectations regarding trends in, and prospects of, the global oil and gas industry; activity, demand, utilization and outlook for the Company’s continuing operations, including the potential impacts of, and mitigation strategies for, the trade tariffs implemented by the U.S. and Canada on the Company’s North American segment and the strong activity and profitability outlook for the Argentina segment; the supply and demand fundamentals of the pressure pumping industry; input costs, margin and service pricing trends and strategies; operating and financing strategies, performance, priorities, metrics and estimates, including the Company’s ability to repatriate cash from Argentina and the timing thereof; the Company’s Russian segment, including the planned sale of the Russian division; the Company’s service quality and competitive position; capital investment plans, including the progress of the Company’s fleet modernization plan in North America and planned wireline investments to bolster the Company’s service offering in Argentina; and the Company’s expectations and intentions with respect to the foregoing.

These statements are derived from certain assumptions and analyses made by the Company based on its experience and perception of historical trends, current conditions, expected future developments and other factors that it believes are appropriate in the circumstances, including, but not limited to, the economic and political environment in which the Company operates, including the continued implementation of Argentina economic reforms and liberalization of its oil and gas industry as well as the current state of the trade war between Canada and the U.S. and its expected impact on the pressure pumping market in North America; the Company’s expectations for its customers’ capital budgets, demand for services and geographical areas of focus; the level of merger and acquisition activity among oil and gas producers and its impact on the demand for well completion services; the anticipated effects of artificial intelligence power requirements and the commissioning of liquified natural gas terminals on supply and demand fundamentals for oil and natural gas; the ability of newly deployed Tier IV DGB pumping units to achieve manufacturer claims with respect to operational performance, diesel displacement and costs savings in the field; the effect of environmental, social and governance factors on customer and investor preferences and capital deployment; the status of the military conflict in the Ukraine and related Canadian, United States and international sanctions and restrictions involving Russia and counter-sanctions, restrictions, and political measures that may be undertaken in respect of the Company’s ownership and planned sale of the Russian division; industry equipment levels including the number of active fracturing fleets marketed by the Company’s competitors and the timing of deployment of the Company’s fleet upgrades; the continued effectiveness of cost reduction measures instituted by the Company; the Company’s existing contracts and the status of current negotiations with key customers and suppliers; and the likelihood that the current tax and regulatory regime will remain substantially unchanged.

Forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from the Company’s expectations. Such risk factors include but are not limited to: (A) industry risks, including but not limited to, global economic conditions and the level of exploration, development and production for oil and natural gas in North America and Argentina; a shift in strategy by exploration and production companies prioritizing shareholders returns over production growth; excess equipment levels; impacts of conservation measures and technological advances on the demand for the Company’s services; an intensely competitive oilfield services industry; and hazards inherent in the industry; (B) geopolitical risks, including but not limited to, the impacts of the trade war between Canada and United States; foreign operations exposure, including risks relating to repatriation of cash from foreign jurisdictions, unsettled political conditions, war, foreign exchange rates and controls; and risks that the sale of the discontinued operations in Russia may not occur or may be delayed; (C) financial risks, including but not limited to, restrictions on the Company’s access to capital, including the impacts of covenants under the Company’s lending documents; direct and indirect exposure to volatile credit markets, including interest rate risk; fluctuations in currency exchange rates; price escalation and availability of raw materials, diesel fuel and component parts; actual results which are materially different from management estimates and assumptions; the Company’s access to capital and common share price given a significant number of common shares are controlled by two directors of the Company; possible dilution from outstanding stock-based compensation, additional equity or debt securities; and changes in tax rates or reassessment risk by tax authorities; (D) business operations risks, including but not limited to, fleet reinvestment risk, including the ability of the Company to finance the capital necessary for equipment upgrades to support its operational needs while meeting government and customer requirements and preferences; risks of delays and quality of equipment due to Company’s reliance on equipment manufacturers, suppliers and fabricators; seasonal volatility; constrained demand for the Company’s services due to merger and acquisition activity; a concentrated customer base; cybersecurity risks; difficulty retaining, replacing or adding personnel; failure to continuously improve equipment, proprietary fluid chemistries and other products and services; climate change; failure to maintain safety standards and records; improper access to confidential information; failure to effectively and timely address the energy transition; risks of various types of activism; and failure to realize anticipated benefits of acquisitions and dispositions; (E) legal and regulatory risks, including but not limited to, federal, provincial and state legislative and regulatory initiatives and laws; health, safety and environmental laws and regulations; the direct and indirect costs of various existing and proposed climate change regulations; and legal and administrative proceedings. Further information about these and other risks and uncertainties may be found under the heading “Business Risks” above.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and there can be no assurance that actual results or developments anticipated by the Company will be realized, or that they will have the expected consequences or effects on the Company or its business or operations. These statements speak only as of the respective date of this press release or the documents incorporated by reference herein. The Company assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise, except as required pursuant to applicable securities laws.

For further information, please contact:

Mike Olinek, Chief Financial Officer

Telephone: 403-266-6000
www.calfrac.com

The MIL Network –

May 15, 2025

MIL-OSI China: China to grant visa-free policy to nationals from Brazil, Argentina, Chile, Peru and Uruguay

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

China to grant visa-free policy to nationals from Brazil, Argentina, Chile, Peru and Uruguay

BEIJING, May 15 — China will grant a visa-free policy to nationals from Brazil, Argentina, Chile, Peru and Uruguay on a trial basis from June 1, 2025 to May 31, 2026, a Chinese foreign ministry spokesperson said on Thursday.

MIL OSI China News –

May 15, 2025

MIL-OSI China: Beijing to host Women’s Volleyball Nations League in June

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

Beijing is gearing up to host one leg of the 2025 FIVB Volleyball Nations League preliminary round from June 4 to 8 at the National Indoor Stadium, featuring six women’s teams: China, Belgium, Poland, Thailand, Türkiye and France.

“This marks the first international event for China’s women’s volleyball team in the new Olympic cycle after Paris 2024,” said Yuan Lei, deputy director of the volleyball management center of the General Administration of Sport of China, at a Thursday press conference.

Ali Frantti (R) of the United States spikes during the International Volleyball Federation (FIVB) Volleyball Nations League Women’s Pool 2 match between Brazil and the United States in Rio de Janeiro, Brazil, May 17, 2024. (Xinhua/Wang Tiancong)

“As a dual Olympic venue in Beijing, the National Indoor Stadium has world-class facilities and operating teams, which will ensure excellent volleyball competitions for both the participants and the audience,” Yuan added.

12 matches will be played across the five-day event, with China set to face Belgium, Poland, Türkiye and France on June 4, 5, 7 and 8, respectively.

The Beijing stop is part of the international Volleyball Nations League tour, which spans several cities and continents as teams compete for points to reach the final round.

Also unveiled at the press conference were the event mascot – featuring a volleyball-themed design – and more than 20 licensed products.

“The organizers will strive to create a cheerful atmosphere of volleyball and accelerate the integrated development of sports and tourism,” said Wang Ling, director of the Beijing Sports Competitions Administration and International Exchange Center.

MIL OSI China News –

May 15, 2025

MIL-OSI Russia: BRICS countries agree to promote cooperation in transport and sustainable mobility

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

BRASILIA, May 15 (Xinhua) — BRICS countries signed a joint declaration on Wednesday pledging to deepen cooperation in transport infrastructure, sustainable mobility and logistics.

The agreement was reached at a meeting of the BRICS transport working group in Brasilia.

The declaration includes commitments on decarbonisation, sustainable fuels and integration of different transport modes, while rejecting unilateral restrictions that could impede access to essential technologies.

A key proposal is the establishment of a BRICS Institute for Sustainable Transport, Mobility and Logistics to promote best practices and design climate-resilient infrastructure.

Brazil holds the BRICS presidency until December 2025. –0–

MIL OSI Russia News –

May 15, 2025

MIL-OSI New Zealand: Siege of Gaza – MSF denounces deliberate humanitarian catastrophe

15 May 2025 – The US-Israel proposition to control the distribution of supplies under the guise of humanitarian aid raises grave humanitarian, ethical, security and legal concerns, says international medical organization Médecins Sans Frontières/Doctors Without Borders (MSF).

Making aid conditional on forced displacement and vetting of the population is another tool in the ongoing campaign of ethnic cleansing of the Palestinian population. MSF firmly rejects and condemns any plan that further reduces availability of aid and subjugates it to Israeli military occupation objectives.

We are witnessing, in real time, the creation of conditions for the eradication of Palestinian lives in Gaza, says MSF.

The obstruction of humanitarian aid is a direct violation of UN Security Council Resolution 2720, which calls for the unimpeded delivery of humanitarian aid to civilians. Claims that aid is being diverted by Hamas remain unverified and in no way justify such measures. As the occupying power, Israel must facilitate impartial humanitarian assistance for the population in need.

UN, EU member states, and all those with influence over Israel,including Australia, must urgently use their political and economic leverage to stop the instrumentalisation of aid. Humanitarian supplies, food, fuel and medicines must be allowed to reach the population of Gaza now.

Since Israel’s resumption of attacks and its total blockade of aid on 2 March, Gaza has become a hell on earth for Palestinians. The survival of Palestinians lies at the mercy of Israeli authorities, who are denying the entire population access to food, water, medical care and shelter. Israel continues to pursue its campaign of ethnic cleansing by deliberately destroying the conditions necessary for life.

Organisations including World Central Kitchen and the World Food Programme (WFP) have announced that they have no more food stocks available in Gaza: most community kitchens and bakeries have closed. MSF medical teams in Gaza City have seen a 32 per cent increase in the number of patients presenting with malnutrition over the past two weeks.

Dwindling fuel stocks are limiting the ability to desalinate and distribute water. Those health facilities that still function – already critically inadequate in number and capacity for the population – are still being attacked and are suffering from rapidly diminishing stocks of medications and other essential supplies. MSF teams in Gaza have received no supplies for 11 weeks and face critical shortages of essential medical items such as sterile compresses and sterile gloves.

Israel’s evacuation orders and established no-go military zones now cover 70 per cent of Gaza. The population has been forcibly transferred from one place to another, while not a single area of Gaza has been spared from attacks. The desperateness of the situation is such that MSF teams have treated and discharged patients only to see them return with new injuries.

Israeli’s plan to instrumentalise aid is a cynical response to the very humanitarian crisis they created. If they wished, Israel and its allies could lift the blockade today and let humanitarian aid reach all those in Gaza whose survival depends on it.

MSF is an international, medical, humanitarian organisation that delivers medical care to people in need, regardless of their origin, religion, or political affiliation. MSF has been working in Haiti for over 30 years, offering general healthcare, trauma care, burn wound care, maternity care, and care for survivors of sexual violence. MSF Australia was established in 1995 and is one of 24 international MSF sections committed to delivering medical humanitarian assistance to people in crisis. In 2022, more than 120 project staff from Australia and New Zealand worked with MSF on assignment overseas. MSF delivers medical care based on need alone and operates independently of government, religion or economic influence and irrespective of race, religion or gender. For more information visit msf.org.au

MIL OSI New Zealand News –

May 15, 2025

MIL-OSI: Instant Withdrawal Casinos UK: Aztec Paradise Picked as The Fastest in 2025

Source: GlobeNewswire (MIL-OSI)

SAN JOSÉ, Costa Rica, May 15, 2025 (GLOBE NEWSWIRE) — Online players in the UK have had enough of long withdrawal wait times. With the rise of instant withdrawal casinos, British gamblers are now demanding quicker access to their winnings—and they’re getting it. Leading the charge into 2025 is Aztec Paradise, a next-generation online casino that offers lightning-fast payouts, often within just 5 minutes.

JOIN AZTEC PARADISE CASINO

In this guide, we’ll break down why Aztec Paradise is setting a new standard for fast-paying online casinos in the UK, and what features to look for when choosing a casino with no withdrawal delays.

What Are Instant Withdrawal Casinos?

Instant withdrawal casinos UK are platforms that process and approve payout requests immediately or within an hour, as long as the player is verified. These casinos eliminate the 1–3 day “pending” periods still used by many traditional operators.

With fast KYC systems and real-time payment integration, casinos like Aztec Paradise allow players to cash out instantly using popular methods such as:

PayPal
Skrill & Neteller
Faster Payments (UK Bank Transfer)
Cryptocurrency (Bitcoin, Ethereum)
Revolut

Aztec Paradise Casino Welcome Bonuses

CLAIM AZTEC PARADISE BONUS

Aztec Paradise Casino offers a comprehensive suite of bonuses and promotions designed to enhance the gaming experience for both new and existing players. Here’s an overview of the key bonuses available:

Welcome Bonus Package

New players at Aztec Paradise Casino can take advantage of a generous four-part welcome bonus:

200% First Deposit Bonus – Up to €1,200/£1,200/$1,200
100% Second Deposit Bonus – Up to €1,000/£1,000/$1,000
100% Third Deposit Bonus – Up to €1,000/£1,000/$1,000
200% Fourth Deposit Bonus – Up to €2,000/£2,000/$2,000

Each deposit bonus requires a minimum deposit of €25/£25/$25. Wagering requirements are set at 30x for both the bonus and deposit amounts. Notably, players can only claim one bonus at a time, and any active bonus must be canceled before a new one can be activated.

Reload Bonuses

Aztec Paradise Casino provides reload bonuses to keep the excitement going:

Monday Reload Bonus – Details vary; players should check the promotions page for current offers.
Saturday Reload Bonus – Details vary; players should check the promotions page for current offers.

These bonuses typically require a minimum deposit and are subject to wagering requirements. Specific terms can be found on the promotions page.

Weekly Cashback

Players can receive up to 20% cashback on their net losses every week, depending on their VIP level. This offer provides a safety net for players, allowing them to recoup a portion of their losses. The cashback amount remains valid for 10 days after activation.

VIP Program

Aztec Paradise Casino rewards loyal players through its VIP program

Level Up Rewards – Earn points with every bet placed to climb the VIP levels.
Exclusive Benefits – Higher levels unlock personalized bonuses, faster withdrawals, and dedicated VIP support.

The program consists of five levels, each offering progressively better rewards.

Weekly Tournaments

Engage in weekly tournaments with prize pools up to €50,000. These competitions allow players to compete against each other for a chance to win substantial prizes. Details on the current tournament themes and requirements can be found on the promotions page.

Daily Cashback

Players can receive daily cashback based on their VIP level, offering up to 20% back on net losses. This daily incentive helps players mitigate losses and continue enjoying their gaming experience.

For the most up-to-date information on bonuses and promotions, players should regularly check the Bonuses and Promotions pages on the Aztec Paradise Casino website. Always ensure to read the full terms and conditions associated with each offer to understand the requirements and limitations.

Aztec Paradise: UK’s Fastest Casino Withdrawal in 2025

Aztec Paradise stands out in 2025 for offering verified instant withdrawals across nearly all payment methods, with no manual delays once identity is confirmed.

Key Features:

Payout Time: As little as 3–5 minutes (PayPal, Skrill, Crypto)
Min Withdrawal: £10
Max Daily Limit: £20,000
Verification: Instant KYC during registration
Games: Slots, Live Casino, Sports, Fantasy, Virtuals
License: Curacao (UKGC white-label compliant)
Support: 24/7 live chat & email

Unlike some operators that still place limits or freeze withdrawals for “review,” Aztec Paradise’s automated systems ensure a seamless withdrawal experience with no hold-ups.

Top Instant Withdrawal Payment Methods

Method	Time to Receive	Common in UK?	Casino Fee
PayPal	1–5 minutes	Yes	£0
Skrill/Neteller	2–10 minutes	Yes	£0–£1
Crypto (BTC/ETH)	5–20 minutes	Increasing	Network fee
Faster Payments	30–60 minutes	Yes	£0
Revolut	Under 30 minutes	Yes	£0

Tip: Use e-wallets like PayPal or Skrill for the fastest and most reliable experience.

Game Selection Doesn’t Slow Things Down

At Aztec Paradise, instant withdrawals apply to all categories of games, including:

High RTP Slots
Jackpot Games
Live Dealer Tables (Blackjack, Baccarat, Poker, Roulette)
Virtual Sports & Fantasy Leagues
Sports Betting (with cashout options)

So whether you hit a big win on MegaWays slots or go on a hot streak at the blackjack table, your funds are yours almost immediately.

Pros and Cons of Instant Withdrawal Casinos

✅ Pros:

Super fast access to your winnings
Greater trust and transparency
Lower temptation to reverse withdrawals
Ideal for responsible gambling

❌ Cons:

Requires full verification
Some banks may still delay receipt
Crypto users may pay blockchain network fees

How Aztec Paradise Compares to Other Fast-Paying Casinos

Casino	Withdrawal Speed	Top Method	Bonus
Aztec Paradise	3–5 mins	PayPal/Crypto	£7,500 Bonus Package
MrQ Casino	Under 1 hour	PayPal	100 Free Spins
PlayOJO	1–3 hours	Skrill	No Wagering Bonus
LeoVegas	1–12 hours	Visa/Neteller	£100 + Free Spins
Slots Dynamite	15–60 mins	Revolut/Crypto	Huge VIP Program

Aztec Paradise edges ahead not just in speed, but in overall payout reliability and 24/7 processing.

What UK Players Are Saying

“Aztec Paradise changed the game for me—5 minutes and the cash was in my Revolut. Never going back to casinos with pending times.”
— Ben R., Leeds

“They really mean instant. Cashed out Saturday night and had my winnings before Match of the Day started!”
— Hannah P., London

️ Security and Responsible Gambling

Fast doesn’t mean reckless. Aztec Paradise uses SSL encryption, two-factor authentication, and adheres to UK responsible gambling regulations. You’ll also find tools to:

Set deposit & loss limits
Enable reality checks
Use self-exclusion if needed

✅ Final Thoughts: Aztec Paradise is the Best Instant Withdrawal Casino UK Players Can Choose in 2025

For players who value speed, transparency, and top-tier games, Aztec Paradise is hands-down the best choice for instant withdrawals in the UK. With verified lightning payouts, mobile compatibility, and a stellar gaming selection, it delivers on every front.

As more casinos race to improve their withdrawal speeds, Aztec Paradise has already set the benchmark. Whether you’re a casual player or a regular high-roller, you deserve to be paid instantly—and now you can be.

Want fast, secure payouts? Join Aztec Paradise and withdraw your winnings in under 5 minutes.

Play at Aztec Paradise Now

Project Name: Aztec Paradise Casino
Website: https://aztecparadise.com/
Contact Person: Roger Chambers, rogerc@aztecparadise.com.
Email ID: sales@aztecparadise.com
Address: Centro Corporativo Plaza Roble, Edificio 5
San Rafael de Escazú, San José Province, Costa Rica 10203

Disclaimer & Affiliate Disclosure

This article is for general information and promotional purposes only and shouldn’t be taken as legal, financial, or professional advice. While we aim for accuracy, we can’t guarantee everything is up-to-date or complete. Please double-check details before acting. Some links may be affiliate links, meaning we could earn a commission at no extra cost to you, but this doesn’t affect our content or opinions. Online gambling is for adults of legal age (typically 19+) and carries financial risk. Play responsibly and seek help if needed. Brand names mentioned belong to their respective owners. By reading this, you accept full responsibility for how you use the information.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/82bbc6ce-845b-4aeb-b527-49f15365c0ef

The MIL Network –

May 15, 2025

MIL-OSI: SBM Offshore First Quarter 2025 Trading Update

Source: GlobeNewswire (MIL-OSI)

Amsterdam, May 15, 2025

Highlights

Year-to-date Directional¹ revenue of US$1,103 million, up 27% versus 1Q 2024
Full year 2025 Directional revenue and EBITDA guidance maintained
Cash dividend of EUR150 million (equivalent to EUR0.8606 per ordinary share) paid on May 6, 2025
EUR141 million share repurchase program on track, c. 6.75% completed²
First oil for FPSO Almirante Tamandaré, FPSOs Alexandre de Gusmão & ONE GUYANA on track for first oil
Strategic Collaboration Agreement signed with Microsoft to develop carbon-free floating power solutions
Completion of the US$400 million sale and leaseback transaction for FPSO Cidade de Paraty
Refinancing and increase to US$1.1 billion of the unsecured revolving credit facility

Øivind Tangen, CEO of SBM Offshore, commented:

“Our first quarter results, along with our full year Directional revenue and EBITDA guidance, highlight the Company’s strong performance across all segments. They also demonstrate the resilience of our business model and our ability to navigate macroeconomic uncertainty with confidence.

Our pro-forma Directional backlog of US$35.1 billion³ is backed by firm contracts from premium clients with inflation protection. From this we expect to generate US$9.5 billion³. We paid a cash dividend of EUR150 million in May and commenced our latest share buyback program of EUR141 million. We continue to expect that we will deliver a minimum US$1.7 billion cash return to shareholders up to 2030⁴.

We are on track to deliver three major vessels this year: FPSO Almirante Tamandaré achieved first oil in February 2025; FPSO Alexandre de Gusmão is progressing to achieve first oil around mid-year, while FPSO ONE GUYANA has arrived safely in Guyana. And we are set to be able to offer a near zero market-ready FPSO by the end of 2025.

The fundamentals for deepwater developments, with low break-even costs and low emission intensity remain strong. Our Fast4Ward^® program and lifecycle approach mean that we are uniquely positioned to capitalize on the strong outlook for new developments.

Building on our ocean infrastructure expertise and capabilities, with the objective of diversifying our product offering in promising markets, we recently signed a strategic collaboration agreement with Microsoft to develop standardized carbon-free floating power solutions.

We have demonstrated our ability to access diversified sources of financing through the successful completion in April of the US$400 million sale and leaseback transaction for FPSO Cidade de Paraty. Reflecting the strong support for the Company’s strategy, we have successfully refinanced and increased to US$1.1 billion our unsecured revolving credit facility.

We are confident in our ocean infrastructure experience and the expert capabilities of our teams. Our strategy delivers and it pays.”

Financial Overview⁵

	YTD Directional

in US$ million	1Q 2025	1Q 2024	% Change
Directional Revenue	1,103	871	27%
Directional Lease and Operate	476	554	-14%
Directional Turnkey	627	316	98%

in US$ billion	Mar-31-25	Dec-31-24	% Change
Directional Net Debt	5.7	5.7	0%

Directional revenue increased by 27% to US$1,103 million in the first quarter of 2025, compared with US$871 million in the same period last year, driven by the Turnkey segment.

Year-to-date Directional Turnkey revenue stood at US$627 million, a 98% improvement compared with US$316 million in the same period last year. This increase mainly reflects the progress on FPSO GranMorgu and FPSO Jaguar, booked under the sale and operate model.

Directional Lease and Operate revenue amounted to US$476 million in the first quarter of 2025, below the US$554 million booked in the same period last year reflecting (i) the sale in 4Q 2024 of FPSOs Prosperity and Liza Destiny, partially offset by (ii) higher reimbursable scope and (iii) FPSO Almirante Tamandaré joining the fleet in February 2025.

Directional net debt is stable and stood at US$5,663 million for the period ending 1Q 2025.

Project Review and Fleet Operational Update

Driven by execution excellence, the Company is on track to bring three FPSOs into operation in 2025 with FPSO Almirante Tamandaré formally on hire as of February 16, 2025, FPSO Alexandre de Gusmão preparing for first oil and FPSO ONE GUYANA targeting first oil in the third quarter of 2025.

FPSO Alexandre de Gusmão – In March 2025, the FPSO arrived safely at its location in Brazil. The FPSO hook-up and installation has been completed. First oil is expected around mid-2025.

FPSO ONE GUYANA – The vessel arrived safely in Guyana and the installation and hook-up campaign is progressing. First oil is targeted for the third quarter of 2025.

FPSO Jaguar – The Fast4Ward^® MPF hull has been delivered. The topside modules’ fabrication progress is as per plan. First oil is expected in 2027.

FSO Trion – The engineering and procurement progress is as per plan. The fabrication of the Disconnectable Turret Mooring system has started.

FPSO GranMorgu – The Fast4Ward^® MPF hull has been delivered. The commencement of the topside modules fabrication is planned for the second half of the year.

Fast4Ward^®MPF hulls – Under the Company’s successful Fast4Ward^® program, ten MPF hulls have been ordered. Four Fast4Ward^® MPF hulls are in operation, another four delivered and allocated to projects under construction and two are under construction to support active discussions with clients driven by the strong FPSO market outlook.

Fleet Uptime – Year-to-date, the fleet’s uptime was 99.5%, in line with historical performance.

Safety

Safety – There were zero Fatalities or Permanent Impairment Injuries in the first quarter of 2025, within the full year target of zero.

Blue Economy

Strategic Collaboration Agreement with Microsoft – SBM Offshore signed a strategic collaboration agreement with Microsoft in March 2025. This partnership’s objective is to develop standardized, scalable, AI-powered Ocean Infrastructure in the growing market of floating power solutions providing carbon-free electricity. The first phase of this collaboration will focus on deploying floating gas-to-power solutions with integrated carbon capture and storage in the UK and Norway, leveraging SBM Offshore’s collaboration with Norwegian company Ocean-Power AS.

Near Zero Emission FPSO – In line with the Company’s strategy to decarbonize traditional energy production, an important milestone has been reached in the emissionZERO^® road map, which aims at proposing a near zero FPSO to the market by the end of 2025. Reflecting the Company’s solid progress, SBM Offshore has received an “Approval in Principle” from the American Bureau of Shipping for its near zero FPSO design.

Shareholder Returns

On April 9, 2025 shareholders of the Company voted in favor of the proposed EUR150 million cash dividend. This resulted in a dividend distribution of EUR0.8606 per ordinary share. The dividend has been paid on May 6, 2025 to all shareholders of record as at April 14, 2025.

The Company started a new program of EUR141 million as announced on February 20, 2025 and effective from April 24, 2025. The program is progressing and was c. 6.75% completed on May 14, 2025.

On this basis a minimum US$1.7 billion cash return to shareholders is expected up to 2030⁴.

Guidance

The Company’s 2025 Directional revenue guidance is maintained at above US$4.9 billion of which above US$2.2 billion is expected from the Lease and Operate segment and around US$2.7 billion from the Turnkey segment.

2025 Directional EBITDA guidance is maintained at around US$1.55 billion for the Company.

Conference Call

SBM Offshore has scheduled a conference call, which will be followed by a Q&A session, to discuss the First Quarter 2025 Trading Update.

The event is scheduled for Thursday May 15, 2025, at 10.00 AM (CEST) and will be hosted by Øivind Tangen (CEO) and Douglas Wood (CFO).

Interested parties are invited to register prior the call using the link: First Quarter 2025 Trading Update

Please note that the conference call can only be accessed with a personal identification code, which is sent to you by email after completion of the registration.

Corporate Profile

SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy.

More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.

For further information, please visit our website at www.sbmoffshore.com.

Financial Calendar	Date	Year
Half Year 2025 Earnings	August 7	2025
Third Quarter 2025 Trading Update	November 13	2025
Full Year 2025 Earnings	February 26	2026
Annual General Meeting	April 15	2026
First Quarter 2026 Trading Update	May 7	2026

For further information, please contact:

Investor Relations

Wouter Holties
Corporate Finance & Investor Relations Manager

Media Relations

Giampaolo Arghittu
Head of External Relations

Market Abuse Regulation
This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Disclaimer
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impacts, Risks and Opportunities’ section of the 2024 Annual Report.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the 2024 Annual Report, available on our website Annual Reports – SBM Offshore.

Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

“SBM Offshore^®“, the SBM logomark, “Fast4Ward^®”, “emissionZERO^®” and “F4W^®” are proprietary marks owned by SBM Offshore.

¹ Directional reporting, presented in the Financial Statements under section Operating Segments and Directional Reporting, represents a pro-forma accounting policy, which treats all lease contracts as operating leases and consolidates all co-owned investees related to lease contracts on a proportional basis based on percentage of ownership. This explanatory note relates to all Directional reporting in this document.
² As of May 14, 2025.
³ As of December 31, 2024.
⁴ Including cash returned to shareholders in 2025.

⁵ Numbers may not add up due to rounding.

Attachment

SBM Offshore First Quarter 2025 Trading Update

The MIL Network –

May 15, 2025

MIL-OSI USA: Senators Marshall and Ernst Lead Effort to Streamline Conservation Practice Standards at USDA

US Senate News:

Source: United States Senator for Kansas Roger Marshall
Washington –U.S. Senators Roger Marshall, M.D. (R-Kansas) and Joni Ernst (R-Iowa), both members of the Senate Agriculture Committee, introduced the Streamlining Conservation Practice Standards Act – legislation that modernizes the process for updating conservation standards at the United States Department of Agriculture (USDA). This legislation would remove bureaucratic barriers and better support farmers in implementing conservation practices that improve soil health and water quality.
“Streamlining updates to conservation practice standards helps cut the bureaucratic red tape that our farmers have been wrongly forced to navigate. Our producers work hard to find new, innovative ways to work the land while conserving its resources, and the federal government should be a partner in doing so – not a roadblock,” said Senator Marshall. “I’m proud to work on this bipartisan solution with Senator Ernst to ensure farmers have the tools necessary to support conservation efforts and help producers leave their land better than they found it.”
“Traveling across Iowa, I regularly hear from farmers who are eager to implement conservation practices that improve soil health, water quality, and long-term productivity – but they face real barriers when rigid USDA standards slow things down,” said Senator Ernst. “I’m leading the Streamlining Conservation Practice Standards Act to modernize how USDA’s Natural Resource Conservation Service updates its technical standards. Ultimately, the goal is simple: let’s cut the red tape, let’s keep standards science-based and flexible, and help farmers get conservation tools in use faster.”
This bill is cosponsored by U.S. Senators Martin Heinrich (D-New Mexico) and Richard Durbin (D-Illinois).
“By leveraging innovations in regenerative agriculture and soil health practices, we can help farmers and producers make their working lands more resilient,” said Senator Heinrich. “Our bipartisan legislation accomplishes this by updating and streamlining the process for developing new conservation practice standards at the U.S. Department of Agriculture’s Natural Resource Conservation Service. This will allow producers to build more resilience into their operations.”
“Illinois ranks fourth in the nation in planted cropland, but for years, has ranked as low as 37th in farm conservation funds that USDA distributes to help farmers adopt cover crops, conservation tillage, and other critical environmental practices. USDA’s statewide one-size-fits-all conservation practice rules do not always match the unique needs of each farm,” said Senator Durbin. “This bill creates a process to add more flexibility to these standards, provide routine updates to keep up with the latest innovations, and ensure more academic and farmer input into developing the conservation practices.”
The Streamlining Conservation Practice Standards Act would update the USDA’s process to:
Require a regular review of existing conservation practice standards.
Create a public process for submitting and adopting new practices.
Prioritize the integration of innovative tools like nutrient efficiency technologies – biological fertilizer being one example that’s proven to improve plant growth.
The full text of the legislation can be found here.

MIL OSI USA News –

May 15, 2025

MIL-OSI China: China, LatAm brewing stronger coffee biz ties

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

Agricultural trade and economic ties between China and Latin American countries are deepening, exemplified by Chinese tea and ice cream chain Mixue Group’s 4-billion-yuan ($555.4 million) deal with a Brazilian business on Monday.

Industry leaders and experts also said they see vast potential for high-value, sustainable cooperation, as closer trade continues to bring a broader range of quality produce to Chinese consumers and enrich the country’s dining tables.

An MoU was signed on Monday between Mixue and Brazilian trade and investment promotion agency ApexBrasil to deepen cooperation in agricultural trade and accelerate the former’s market entry into the South American country.

Under the agreement, Mixue will expand the use of Brazilian agricultural products in its global supply chain, such as coffee beans and fruit products, and ApexBrasil will provide support for the company’s business operations and retail expansion in Brazil.

Mixue plans to invest no less than 4 billion yuan in sourcing agricultural products, primarily coffee beans, from Brazil over the next three to five years.

The initiative is expected to create around 25,000 jobs in Brazil. Mixue will also open its first store in Brazil this year and begin construction of a local supply chain facility to establish a production and sales model.

Brazil, the world’s largest coffee producer, plays a major part in China’s agricultural imports. Coffee has become a key component of Sino-Brazilian trade, particularly amid the rising popularity of ready-to-drink coffee in China.

Brazil’s coffee exports to China have seen particularly strong momentum. The Brazilian Coffee Exporters Council said Brazilian coffee exports to China surged 186.1 percent year-on-year in the 2023-24 crop year to reach 1.64 million 60 kilogram-bags — the fastest growth among all destination markets — while overall coffee exports from Brazil rose 32.7 percent to a new record high.

“Latin American coffee — particularly Brazilian beans — is showing strong growth potential in the Chinese market,” said Roolee Lu, director of food and drink, and food services, Mintel China. “As Chinese consumers become more sophisticated in their coffee preferences, quality is taking precedence. At the same time as more brands adopt low-price strategies, Brazilian beans are one of the emerging popular choices that strike a balance between convenience, quality and affordability. Overall, Latin American coffee is gaining wider recognition in China for its value and improving quality.”

Surging demand for the beans comes from the up-scaling of global operations for Mixue, which launched its ground coffee brand in 2017. The company, which currently operates more than 46,000 stores globally — including over 5,000 across 12 overseas markets — began international expansion with its first store in 2018 in Vietnam.

In addition, Guo Jinyi, co-founder and CEO of Luckin Coffee, said while attending the China-Brazil Business Seminar in Beijing on Monday that the coffee house is promoting Brazilian coffee culture in China.

Luckin Coffee, which had already signed a cooperation memorandum with ApexBrasil in November, plans to purchase 240,000 metric tons of Brazilian coffee beans worth 10 billion yuan in the 2025-29 period — the largest procurement plan by the company so far.

“Brazil is a major agricultural powerhouse, and our collaboration reflects the strong complementarity between Chinese demand and Brazilian supply,” Guo said.

“We aim to introduce high-quality Brazilian coffee to our 355 million users and build Luckin Coffee into a platform for Sino-Brazilian cultural exchange.”

Bilateral trade between China and Latin America continues to grow steadily. According to the General Administration of Customs, trade between the two sides reached $518.47 billion in 2024, a 6 percent year-on-year increase. Imports from Latin America surged 46 percent over the past five years to $241.3 billion, reflecting China’s rising demand for high-quality, value-added goods.

Latin American agricultural products are increasingly present on Chinese dining tables. Imports of Chilean cherries, Ecuadorian bananas, Nicaraguan honey and Honduran white shrimp have surged in recent years.

During the recent Spring Festival, a period noted for increased fruit consumption and a tradition of gifting cherries, high-end cherry varieties from Chile saw record sales in China. Chile has become China’s second-largest supplier of fresh fruits. According to ProChile’s data, cherry exports for 2024 totaled $3.09 billion, with more than 90 percent destined for the Chinese market.

MIL OSI China News –

May 15, 2025

MIL-OSI China: How China, LAC countries bolster shared development, boost Global South unity

Source: China State Council Information Office

Chinese President Xi Jinping attends the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum and delivers a keynote speech at the China National Convention Center in Beijing, capital of China, May 13, 2025. (Xinhua/Yin Bogu)

Chinese President Xi Jinping announced on Tuesday the launch of five major programs to advance China’s shared development and revitalization with Latin American and Caribbean (LAC) countries at the just concluded fourth ministerial meeting of a key cooperation platform for the two sides in Beijing.

A container with the words “from Chancay to Shanghai” printed on it is pictured at Yangshan Port, east China’s Shanghai, Dec. 18, 2024. (Xinhua/Fang Zhe)

The five programs, ranging from solidarity, development and civilization to peace and people-to-people connectivity, provide a clear roadmap for deepening cooperation and advancing the common goals of both sides.

Over the past decade since the China-CELAC (the Community of Latin American and Caribbean States) Forum was established, political trust between China and LAC countries has been strengthened, their development strategies aligned, and cultural exchanges promoted.

FROM SAPLING TO PILLAR

The seeds of the forum were sown in July 2014, when President Xi paid a state visit to Brazil and attended the first meeting between leaders of China and LAC countries.

At that meeting in Brasilia almost 11 years ago, the leaders agreed to establish the China-CELAC Forum, an institutional framework to advance the vision of building a China-LAC community with a shared future.

“At that meeting, President Xi held a very frank dialogue with Latin American leaders, focusing on issues such as poverty alleviation and infrastructure improvement,” recalled Valdemar Carneiro Leao, who witnessed the historic event as then Brazilian ambassador to China.

“The China-CELAC Forum is a newborn, just like a young shoot sprouting out of the earth, whose sturdy growth into a towering tree needs meticulous cultivation of both sides,” Xi said at the first ministerial meeting of the forum in 2015.

In his keynote speech at the opening ceremony of the fourth ministerial meeting of the forum on Tuesday, Xi revisited the metaphor, saying that 10 years on, with dedicated nurturing of both sides, the forum has grown from a tender sapling into a towering tree.

Having witnessed how China-LAC relations have withstood global turbulence with ever-growing mutual political trust, Leao said Xi’s initiative to create the China-CELAC Forum has a forward-looking vision of the times.

Since its inception, the forum has grown into a robust platform for cooperation as China and the CELAC Quartet have held eight rounds of foreign ministerial dialogues to date, alongside more than 100 events spanning agricultural production, technological innovation, poverty reduction, green development, disaster response, defense cooperation, think tank exchanges and anti-corruption efforts.

Meanwhile, a range of institutional platforms, including the China-LAC Sustainable Food Innovation Center and the China-LAC Technology Transfer Center, have also taken root, helping the forum become a pillar of China-LAC cooperation.

“China-LAC cooperation has experienced a splendid golden decade, and is about to enter an even more promising diamond decade,” said Song Junying, director of the Department for Latin American and Caribbean Studies at the China Institute of International Studies.

COMMON GROWTH, SHARED FUTURE

An electric and combustion dual-power train manufactured by China Railway Rolling Stock Corporation (CRRC) Qingdao Sifang Co., Ltd. awaits departure at the central station in Santiago, Chile, Jan. 19, 2024. (Photo by Jorge Villegas/Xinhua)

China and LAC countries ride the tide of progress together to pursue win-win cooperation, Xi said on Tuesday, noting that while embracing the trend of economic globalization, the two sides have deepened cooperation in trade, investment, finance, science and technology, infrastructure, among other fields.

In the framework of high-quality Belt and Road cooperation, China and LAC countries have implemented more than 200 infrastructure projects, creating over a million jobs and forging a path of cooperation bridging the Pacific.

Notable examples include the China-LAC satellite cooperation program, which has become a model for high-tech South-South collaboration and the inauguration of Chancay Port in Peru, which has created a new land-and-sea connectivity link between Asia and Latin America.

China has also signed free trade agreements with Chile, Peru, Costa Rica, Ecuador and Nicaragua. Last year, trade between China and LAC countries exceeded 500 billion U.S. dollars for the first time, an increase of over 40 times from the beginning of this century.

For ordinary people like Leonardo Talledos, an operations control engineer for Colombia’s Bogota Metro Line 1, the significance of China-LAC cooperation today goes far beyond trade figures and project counts — it shapes his career and supports his aspirations.

Built and operated by Chinese companies, Bogota Metro Line 1 is Colombia’s largest infrastructure project to date. Once operational in 2028, it will cut travel time between terminal stations from nearly three hours to just 27 minutes.

In 2023, Talledos traveled to Xi’an, capital of northwest China’s Shaanxi Province, for a year-long training program in metro operations, where he witnessed the rapid development of China’s urban transit systems. Inspired by the experience, he returned to Colombia to help compile training materials and operational guidelines for the metro line.

Trainees from Bogota pose for a group photo during the commencement of a metro operation training program in Xi’an, northwest China’s Shaanxi Province, Nov. 12, 2024. (Xinhua)

“From the moment we were hired, we were told that being part of this project was being part of Bogota’s history, because it was the beginning, the first line of many lines to come in the future,” said Talledos.

GREATER SOLIDARITY, BIGGER VOICE

As part of the Year of the Snake celebrations, Brazilian soprano Marilia Vargas gave a moving performance of the Chinese song “I Love You, China” at Rio de Janeiro’s Municipal Theater. Dressed in a flowing red gown, her voice echoed powerfully throughout the hall.

Vargas, who has learned many Chinese songs in recent years, said her bond with China has deepened alongside the growth of the China-CELAC Forum. “Since the forum’s foundation, many more opportunities for cultural exchange between LAC countries and China have opened up.”

She told Xinhua that in the future, she will continue to “explore more Chinese musical treasures” and remain dedicated to advancing cultural exchanges between China and Brazil as well as between China and other LAC countries.

Over the past decade, cultural exchanges under the China-CELAC Forum have flourished. Joint archaeological projects have yielded substantial results, the number of exchange students has steadily increased, and interest in the Chinese language continues to surge across LAC countries.

“Mutual respect, diversity, knowledge and understanding” were the words used by Rogelio Rivero, Mexican archaeologist and director of the Archaeological Zone of Teotihuacan, to describe his experience in the cultural exchanges and dialogues held in China.

Members of China National Symphony Orchestra perform at the Municipal Theater of Rio de Janeiro, Brazil on Sept. 9, 2024. (Photo by Claudia Martini/Xinhua)

Rivero believes that LAC countries, by strengthening cultural exchanges with China and other Global South countries, will effectively contribute to breaking with “Western-centrism” and balancing unilateral narratives at the global level.

Despite differences in civilizations and cultures, independence and self-determination remain a shared and defining spirit of the Global South, said Ninfa Montano, president of the China-Mexico Cultural Development Foundation.

“The China-CELAC Forum unites the strength of the Global South, promoting unity and cooperation among many developing countries, and will contribute to establishing a more just and equitable global governance system,” Montano said.

Montano’s view was echoed by many analysts, who see the ministerial meeting as a chance to deepen cooperation, address global challenges and reinforce South-South solidarity.

The cooperation between China and LAC countries has set a model of mutually beneficial South-South collaboration, said Manuel Alberto Hidalgo, economist at Peru’s National University of San Marcos.

By deepening bilateral partnership, both sides have effectively strengthened solidarity and cooperation in the Global South and made positive contributions to promoting the bloc’s greater role in global governance, he said.

For Ingrid Chavez, executive director of the Colombian-Chinese Chamber of Investment and Commerce, the cooperation helps build up “a common voice as a bloc,” empowering LAC countries to negotiate more effectively on the global stage.

It helps LAC countries “establish interregional, multilateral relations and somewhat change the power dynamics that have existed until now at the global level,” she added.

MIL OSI China News –

May 15, 2025

MIL-OSI USA: May 14th, 2025 Heinrich Demands Answers on Public Lands Transfer in Southern New Mexico

US Senate News:

Source: United States Senator for New Mexico Martin Heinrich

Heinrich to Hegseth: “I have deep concerns that the Trump Administration is bypassing due process for individuals who either intentionally or unintentionally enter this newly restricted area, including United States citizens who may be stopped and detained by U.S. Army soldiers for trespassing on an unmarked military base”

WASHINGTON — Today, U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Senate Energy and Natural Resources Committee, sent a letter to U.S. Department of Defense (DoD) Secretary Pete Hegseth demanding answers on a number of significant questions that have arisen from the U.S. Department of the Interior’s transfer of approximately 109,651 acres of public land in Doña Ana, Luna, and Hidalgo Counties, New Mexico, to the U.S. Army.

Local residents along New Mexico’s southern border use these lands for hiking, mountain biking, hunting, camping, and experiencing New Mexico’s natural heritage, while ranchers depend on them for grazing access critical to their livelihoods. These lands also include the Continental Divide National Scenic Trail, NM State Highway 9, and significant acreage within New Mexico Game and Fish Hunt Units 25, 26, and 27.

Crossing into a National Defense Area can lead to charges under Title 50 of the U.S. Code, which can carry penalties of up to one year in custody and fines up to $100,000. During a visit to the newly designated National Defense Area along New Mexico’s southern border with Secretary Hegseth, Acting U.S. Attorney for the District of New Mexico Ryan Ellison said, “Trespassers into the National Defense Area will be Federally prosecuted — no exceptions.”

The Trump Administration has thus far failed to install appropriate signage at the perimeters of the National Defense Area to clearly mark its boundaries.

“I have deep concerns that the Trump Administration is bypassing due process for individuals who either intentionally or unintentionally enter this newly restricted area, including United States citizens who may be stopped and detained by U.S. Army soldiers for trespassing on an unmarked military base,” Heinrich wrote to Secretary Hegseth.

“While I understand the Department’s stated interest in reducing migrant crossings at the border, this transfer raises a number of urgent questions,” Heinrich continued.

In the letter, Heinrich demanded Secretary Hegseth answer the following questions:

What is the current public access status of the lands under the NDA designation? Are these areas now closed to public entry, or are they still accessible to U.S. citizens or persons legally present in the United States?

If this area is not fully open to the public, will the Department install signage to clearly mark the boundaries of the NDA along the perimeter of every restricted area? For example, will signage be installed adjacent to NM State Highway 9, such that individuals can see the signage before entering the northern boundary of the NDA? Similarly, will signage be installed at the southern perimeter of the NDA such that individuals can see the signage before entering the NDA?

Are you enforcing trespassing on the NDA north of the Roosevelt Reservation? If not, why did the Administration withdraw the entire NDA?

Will you notify the public about any new public access restrictions on the NDA?

The NDA includes significant acreage within New Mexico Game and Fish Hunt Units 25, 26, and 27. Will hunting continue to be allowed within the NDA, and if so, under what additional regulations or conditions?

Are other recreational uses, including hiking, camping, and off-road vehicle use, still allowed within the NDA?

Can hikers on the Continental Divide National Scenic Trail access the southern terminus, which is located within the NDA?

Are there any grazing permits previously authorized in the affected area? If so, will ranchers retain access under the new designation?

How many private individuals or entities currently hold rights-of-way (ROW) or easements within the newly withdrawn boundary? Will they still have access to their ROWs?

How many mining claims are within the boundary of the NDA?

Can the New Mexico State Land Office access state land within the NDA? Can lease or permit holders on state land within the NDA continue to utilize those state trust lands pursuant to those leases or permits?

Does the NDA limit road access to any private property within the boundaries of the NDA? If so, how is the department providing access to those private property owners?

Are DOD personnel crossing private lands or using private roads to access DOD-managed land within in the NDA? If so, which properties? Are they doing so with the consent of those property owners? If military personnel are entering private land without permission of the landowner, under what authority are they accessing that private land?

It has been reported that at least 300 individuals have been detained within the NDA area since the designation. How many of these individuals were U.S. citizens or were legally present in the United States?

“The residents of southern New Mexico have longstanding relationships with these lands — whether as business owners, stewards, sportsmen, ranchers, or recreational users. As such, decisions that significantly alter their access or legal standing must be made transparently and with meaningful consultation. Further, it is of upmost importance that federal laws and the Constitution are upheld, ” Heinrich concluded the letter.

The full text of the letter is here.

For a list of Heinrich’s actions to keep public lands in public hands, click here.

MIL OSI USA News –

May 15, 2025

MIL-OSI USA: Sullivan, Hirono Introduce Legislation to Increase Funding for USDA Program Supporting Farmers and Ranchers in Alaska and Hawaii

US Senate News:

Source: United States Senator for Alaska Dan Sullivan

05.14.25

WASHINGTON—U.S. Senators Dan Sullivan (R-Alaska) and Mazie Hirono (D-Hawaii) this week reintroduced the Reimbursement Transportation Cost Payment (RTCP) Revitalization Act, legislation to secure additional funding for the U.S. Department of Agriculture (USDA) RTCP Program. The RTCP program enables geographically disadvantaged farmers and ranchers in Alaska, Hawaii, and other insular areas to receive reimbursements for costs incurred when transporting supplies such as feed, fertilizer, and equipment parts. This legislation also increases the amount of funding these producers can receive.

“Alaska’s farmers and ranchers face greater obstacles getting their goods to market due to our state’s vast size, many remote communities, and general lack of infrastructure,” said Sen. Sullivan. “I’m glad to join my colleagues in Hawaii to support a vital USDA program that makes it possible for these hard-working Alaskans to support our economy and feed their fellow Americans from the bounty of our great state.”

“Farmers, ranchers, and other agricultural producers work tirelessly to provide healthy and fresh produce for their communities, and those located in geographically disadvantaged areas deserve to be fairly compensated for the lengths which they go to transport supplies,” said Senator Hirono. “As we continue working toward increased agricultural sustainability, I am glad to reintroduce this bipartisan legislation to support food producers in Hawaii, Alaska, and other insular areas, helping to ensure that local producers can continue their work as valuable food sources in their communities.”

The RTCP program was established in the 2008 Farm Bill in recognition of the increased costs producers face in geographically disadvantaged areas. USDA began administering the program in 2010 and throughout its history, demand for this popular program has substantially exceeded available funds. In addition to Alaska and Hawaii, the program is also available to farmers, ranchers, and producers in Puerto Rico, Guam, American Samoa, the Northern Mariana Islands, the Federated States of Micronesia, the Republic of the Marshall Islands, the Republic of Palau, and the Virgin Islands.

Due to the increase in both demand for the program as well as costs for producers, the RTCP Revitalization Act aims to secure additional funding for the program. Specifically, the bill would:

Provide mandatory funding for RTCP, starting with $10 million in fiscal year (FY) 2026, increasing by $1 million each year to $15 million in FY 2031, and then provides $15 million each fiscal year thereafter;
Remove the $15 million payment cap for any given fiscal year that is currently in statute;
Provide language saying that the Secretary may not impose a cap to individual producer payments for any fiscal year that program funds exceed demand; and
Retain the authority for appropriators to fund the program.

In addition to Senators Sullivan and Hirono, the legislation was also cosponsored by Senator Brian Schatz (D-Hawaii).

The full text of the legislation is available here. A one-page summary of the bill is available here.

MIL OSI USA News –

May 15, 2025

MIL-OSI China: China, LAC countries forge new chapter in solidarity, cooperation

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

BEIJING, May 14 — Tuesday’s successful ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum demonstrated the solidarity and good momentum of bilateral relations. This key event in Beijing unveiled measures to deepen cooperation and exchanges between China and Latin American and Caribbean (LAC) countries.

A decade into the official launch of the China-CELAC Forum, closer cooperation holds immense promise as China and LAC countries advance hand in hand as a community with a shared future, which is founded upon equality, powered by mutual benefit and win-win, invigorated by openness and inclusiveness, and dedicated to the people’s well-being.

At the fourth ministerial meeting of the forum, China systematically summarized the successful experience of the development of China-LAC relations, and announced the launch of five programs on solidarity, development, civilization, peace, and people-to-people connectivity respectively, advancing shared development and revitalization and contributing to a China-LAC community with a shared future.

Development and modernization are an inherent right for people of all countries. As important members of the Global South, China and LAC countries are advancing their own modernization drives and sustainable development. Against the backdrop of mounting global challenges, solidarity and coordination among nations are indispensable for safeguarding world peace and stability and promoting common development and prosperity.

In this regard, China and LAC countries have set a brilliant example. The two sides champion true multilateralism, uphold international fairness and justice, promote multipolarization in the world, and advocate for greater democracy in international relations.

Practical cooperation in various fields has proven to be fruitful and mutually beneficial. The trade volume between China and LAC countries doubled in the past decade, reaching 518.4 billion U.S. dollars in 2024. Additionally, more than 200 infrastructure projects and multiple industrial projects built by China have generated over one million jobs. More than 20 countries have synergized development strategies with China under the Belt and Road cooperation framework. Colombia, the latest, on Wednesday signed a cooperation plan with China on jointly building the Silk Road Economic Belt and the 21st-Century Maritime Silk Road.

Notably, cooperation between China and LAC countries has no geopolitical calculations. China’s investment in the LAC region has no political strings. China advocates extensive consultation, joint contribution and shared benefit. The cooperation respects the wishes of LAC countries, meets the needs of their people, and provides enormous opportunities for their development.

China and LAC countries account for approximately a quarter of the world’s population and a quarter of the global economic output, and have great growth potential and development vitality. The two sides have reaffirmed their commitments to development, cooperation and solidarity at the latest ministerial meeting. They are set to make new and greater progress in building a China-LAC community with a shared future in the years to come.

MIL OSI China News –

May 15, 2025

MIL-OSI Security: California Man Sentenced for Conspiring to Smuggle Pesticides & Veterinary Drugs into the United States

Source: United States Attorneys General 1

Ruben Montes, of Calexico, California, was sentenced today in federal court to 16 months in prison and ordered to pay $12,710 in forfeiture for conspiring to smuggle and distribute more than $3 million worth of Mexican pesticides and veterinary drugs that are not approved for use in the United States.

“A secure border is vital to ensuring the health and safety of Americans,” said Acting Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division (ENRD). “The Justice Department is committed to prosecuting those who violate our environmental and customs laws and jeopardize the health and safety of our citizens.”

“Bringing in and selling pesticides and veterinary drugs illegally puts both people and the environment at risk,” said U.S. Attorney Adam Gordon for the Southern District of California. “These unregulated products can be harmful to animals, insects, and humans. Our office is committed to holding accountable anyone who chooses profit over public safety.”

According to filings and evidence presented in court, Montes coordinated the smuggling of pesticides and veterinary drugs from Mexico into the United States since 2020. The primary pesticides involved were Taktic and Bovitraz, which are not registered with the Environmental Protection Agency (EPA) for use in the United States. The smuggled veterinary drugs included Tylocet, Terramicina, Tetragent Ares and Catarrol, which are not approved by the Food and Drug Administration (FDA) for use in the United States.

Montes requested that his co-conspirators bring pesticides and veterinary drugs — unavailable for purchase in the United States — from Mexico into the United States. Montes and his co-conspirators brought them into the United States without declaring them at the border. He and his co-conspirators then hid the pesticides and veterinary drugs in storage units in Calexico and retrieved them for distribution throughout the United States. Specifically, Montes and his co-defendant Gutierrez, who remains at large, supplied most of the pesticides and veterinary drugs to individuals charged in another case, United States v. Toledo, et. al., (case number 22-cr-1965-JAH, in U.S. District Court for the Southern District of California). Montes was also involved in shipping about 150 packages of unapproved products to another co-conspirator in Texas.

According to the EPA, the active ingredient in the pesticides Taktic and Bovitraz is amitraz, which is toxic to bees if released into hives, and then ultimately to humans when it ends up in honey, honeycomb, and beeswax. Misuse of amitraz-containing products in beehives can result in exposures that could cause neurological effects and possibly reproductive effects in humans from the consumption of contaminated honey. Signs of neurotoxicity from exposure to amitraz have been documented in multiple animal species and include central nervous system depression, decrease in pulse rate, and hypothermia.

Assistant Section Chief Stephen Da Ponte of ENRD’s Environmental Crimes Section and Assistant U.S. Attorney Elizabet Brown for the Southern District of California prosecuted the case.

MIL Security OSI –

May 15, 2025

MIL-OSI China: Chinese FM meets with counterparts from LAC countries

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

Chinese Foreign Minister Wang Yi held meetings with Honduran Foreign Minister Eduardo Enrique Reina, Bolivian Foreign Minister Celinda Sosa Lunda, and Mexican Foreign Minister Juan Ramon de la Fuente in Beijing on Wednesday.

Reina, Sosa and De la Fuente are in China for the fourth ministerial meeting of the China-CELAC (Community of Latin American and Caribbean States) Forum.

When meeting with Reina, Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that China appreciates Honduras’ reaffirmation that it adheres to the one-China principle, and supports Honduras in safeguarding its sovereignty, independence and dignity.

China is willing to share its governance experience with Honduras, stands ready to assist Honduras in exploring a development path that suits its national conditions and is supported by its people, and will continue to provide assistance — within its own ability — to improve people’s livelihoods and capacity-building in Honduras, Wang said.

Reina said the Latin American and Caribbean (LAC) countries were deeply inspired by the important cooperation initiatives proposed by Chinese President Xi Jinping, and noted that Honduras will firmly abide by the one-China principle and translate the important consensus reached between the two heads of state into more tangible achievements.

During his meeting with Sosa, Wang said that China appreciates Bolivia’s resolute commitments to upholding national dignity and legitimate rights and interests, undeterred by external interference.

Wang extended congratulations to Bolivia on joining BRICS as a partner country, saying that China is willing to enhance communication and cooperation with Bolivia within multilateral mechanisms. Both sides should work together to continue advancing high-quality Belt and Road cooperation, he added.

Sosa said that Bolivia is a firm defender of multilateralism and the right to national self-determination, attaches great importance to BRICS cooperation, and is willing to leverage this platform to strengthen solidarity and mutual support within the Global South. She also noted that adherence to the one-China principle is Bolivia’s firm position.

When meeting with De la Fuente, Wang said that China places its relations with Mexico in a pivotal position in its diplomacy with LAC countries. He said that guided by the important consensus reached by the two heads of state, China is ready to share with Mexico its experience in comprehensively advancing Chinese modernization and the opportunities presented by China’s vast market.

China welcomes more high-quality products from Mexico to enter the Chinese market, and will encourage Chinese enterprises to invest and start businesses in Mexico, Wang added.

De la Fuente said that Mexico upholds its sovereignty and independence, and will continue to abide by the one-China principle, adding that Mexico will strengthen cooperation between the two countries in areas such as connectivity, science and technology, agriculture, tourism and direct flights, and constantly enrich the substance of Mexico-China relations.

MIL OSI China News –

May 15, 2025

MIL-OSI USA: Cornyn, Senate Colleagues, Gonzales Introduce Bill to Combat Devastating Screwworm Outbreak

US Senate News:

Source: United States Senator for Texas John Cornyn
WASHINGTON – U.S. Senators John Cornyn (R-TX), Ted Cruz (R-TX), and Ben Ray Luján (D-NM) and Congressman Tony Gonzales (TX-23) today introduced the Strengthening Tactics to Obstruct the Population of Screwworms (STOP Screwworms) Act, which would authorize funds for and direct the U.S. Department of Agriculture (USDA) to begin construction on a new sterile fly production facility to combat the growing New World screwworm (NWS) outbreak that threatens to wreak havoc on the American cattle industry:
“Combatting the destructive New World screwworm is vital to protecting our cattle, Texas producers, and the American livestock industry as a whole,” said Sen. Cornyn. “I am proud to lead this legislation to create a new facility dedicated to pushing these pests away from our border and will continue to work with Secretary Rollins and agriculture leaders across the state to ensure our farmers, ranchers, and producers have the resources they need.”
“Texas agriculture and livestock are a core part of the Texas economy, and they feed America and the world,” said Sen. Cruz. “I’m working daily with Secretary Rollins, Texas authorities, and my colleagues in Congress to safeguard Texas from threats including the New World Screwworm, and pushing Mexico to implement their commitments to eradication. This bill will advance those efforts, and Congress should pass it.”
“Given the current screwworm outbreak, Congress must take immediate action to help protect New Mexico’s cattle and livestock from this growing threat,” said Sen. Luján. “This bipartisan legislation will fund a new sterile fly facility to help stop the spread of the destructive New World screwworm and protect New Mexico’s 1.4 million cattle and calves. This is a critical investment that supports over 10,000 cattle farms and ranches in New Mexico, saves the U.S. livestock industry nearly $1 billion each year, and helps prevent an outbreak in the U.S.”
“Ag producers across America are sounding the alarm—the New World Screwworm is making a comeback, and our livestock industry is in real danger. We need to fully eradicate this pest before it’s too late,” said Rep. Gonzales. “The STOP Screwworms Act provides dedicated resources to do just that. By authorizing the construction of a new sterile fly facility in the United States, we reduce our dependence on Latin American partners for eradication efforts and take matters into our own hands.”
Additional cosponsors of this legislation include Sens. Martin Heinrich (D-NM) and Cindy Hyde-Smith (R-MS).
Background:
The New World screwworm (NWS) is a parasitic fly whose larvae feed on livestock, wildlife, and in rare cases, humans, and populations are moving toward the United States at an alarming rate. They can cause serious damage to their host, including death. This week, the USDA announced the suspension of live cattle, horse, and bison imports through the southern border in response to the growing spread of the NWS and recent outbreaks in Mexico.
This new facility would produce sterile male screwworm flies that would be released into infested areas to help combat the growth of the screwworm population. The sterile fly technique was instrumental in eradicating NWS from the United States in the 1960s and from Mexico in the ‘90s, as sterile male flies can outcompete local populations and effectively wipe out an entire generation of screwworms in a given area.
This legislation is endorsed by the American Farm Bureau Federation, the Texas Farm Bureau, the Texas Cattle Feeders Association, the Texas and Southwestern Cattle Raisers Association, and the South Texans’ Property Rights Association.

MIL OSI USA News –

May 15, 2025

MIL-OSI USA: Cornyn Op-Ed: Getting Tough on Water Treaty

US Senate News:

Source: United States Senator for Texas John Cornyn
WASHINGTON – U.S. Senator John Cornyn (R-TX) authored the following op-ed in The Monitor praising the Trump administration for prioritizing the push for Mexico to live up to its obligations under the 1944 Water Treaty and previewing his next steps in the fight to bring relief to the South Texas agriculture community.
Getting Tough on Water Treaty
Senator Cornyn
The Monitor
May 13, 2025
https://myrgv.com/opinion/2025/05/13/commentary-getting-tough-on-water-treaty/
The Rio Grande Valley is home to farmers and ranchers who supply the nation’s grocery stores and represent billions of dollars in economic activity. In 1944, Mexico and the United States made an agreement to share the waters of the Rio Grande. Under this treaty, Mexico and the U.S. agreed to deliver set amounts of water every five years to one another. While that may seem straightforward, this deeply flawed agreement has the Lone Star State’s tensions with Mexico at a tipping point, and I’m working with the Donald Trump administration to get this fixed and protect Texas agriculture.
While the United States and Texas have kept their side of the agreement, faithfully delivering water from the Colorado River to Mexico as set out in the treaty, Mexico has been delinquent. They’ve not met their full obligations in years. Four years into the current five-year cycle, Mexico a balance of more than 60% of their five-year water delivery obligation outstanding and due in just over six months.
As the senior senator from Texas, I’ve been using every lever at my disposal to hold Mexico accountable. I’ve worked with the Appropriations Committee here in the Senate to prohibit funds from going to Mexico until they hold up their end of the bargain. Unfortunately, Senate Democrats blocked this effort.
I secured provisions that authorized block grants to provide relief to South Texas farmers and ranchers who are affected by water shortages. While these grants offered some relief, the White House has the ultimate authority to enforce the treaty and hold Mexico accountable.
The Joe Biden administration’s response epitomized its weak posture on foreign policy. I demanded that the State Department put pressure on Mexico to fulfill their obligations. I hosted multiple calls with Secretary Anthony Blinken, urging him to listen to what Texans were experiencing and hold Mexico accountable for failing to meet their treaty obligations. But the Biden administration didn’t care. In characteristic ineptitude on the world stage, President Biden and Secretary Blinken did nothing to hold Mexico accountable.
Thankfully, under President Trump we have an entirely new landscape. Last month, thanks to President Trump, Agriculture Secretary Brooke Rollins, Secretary of State Marco Rubio and Deputy Secretary of State Christopher Landau, Mexico has finally agreed to start making deliveries again. This much-needed development will make a difference for South Texas farmers. But while this is an important step in the right direction, I will not consider this work finished until Mexico is making consistent water deliveries.
Nothing short of annual water deliveries will fulfill Mexico’s obligations to the United States. Mexico must give one-fifth of the required water every year in order to meet the 1.7 million acre-feet quota and give South Texas farmers and ranchers the predictability they need.
Given Mexico’s current water shortages, it is unlikely that they will meet this total requirement by the end of the cycle, and they can’t blame Mother Nature for their failure to plan. Furthermore, even if they could suddenly deliver the required amount left before time runs out, this would not make Texas farmers whole.
Consider how farming works. Farmers cannot go four years without irrigating their crops, and suddenly make up for it in year five when their fields are dry and decimated. Cattle and other livestock won’t last long without water, either. This is exactly what Mexico has been doing to South Texas farmers, and it is unacceptable.
I will continue to push this issue in the Senate until South Texas farmers are receiving the water they deserve. My efforts will include introducing legislation and holding a hearing in the Senate Finance Subcommittee on International Trade, Customs, and Global Competitiveness, which I chair. I will also continue working with the Trump administration to strengthen the terms and enforcement of the treaty as part of the U.S.-Mexico-Canada Agreement review process.
The United States has kept our end of the treaty. Mexico must be held accountable until they have done the same. I will not stop fighting until Texas agriculture is receiving the predictable, yearly water deliveries that Mexico is obligated to provide.

MIL OSI USA News –

May 15, 2025

MIL-OSI Security: Truck driver receives maximum sentence for smuggling 36 illegal aliens in trailer

Source: Office of United States Attorneys

CORPUS CHRISTI, Texas – A 34-year-old Alamo resident has been ordered to prison for smuggling people into the United States from multiple countries, announced U.S. Attorney Nicholas J. Ganjei.

Eusebio Cavazos pleaded guilty Feb. 13.

U.S. District Judge David Morales has now ordered Cavazos to serve the statutory maximum of 60 months in federal prison to be immediately followed by three years of supervised release. At the hearing, the court heard additional evidence regarding numerous sentencing enhancements applied in the case. These included transporting over 25 aliens, recklessness for locking the aliens in the back of a cold trailer with no means of escape, transporting a minor and using his skills as a truck driver to commit the crime. In handing down the sentence, Judge Morales noted he would have sentenced Cavazos to a higher sentence if not for the statutory maximum of 60 months.

On Dec. 13, 2024, Cavazos drove a tractor-trailer into the primary inspection lane at the Border Patrol (BP) checkpoint near Sarita. Upon initial inspection, a K-9 alerted to the possible presence of humans in the trailer.

Authorities referred him to secondary inspection where they discovered 36 illegal aliens in the back of the trailer and nothing else. It was 54 degrees inside and the doors were locked and sealed with no means of escape.

A total of 15 were from Guatemala, 10 from Honduras, eight from Mexico and three from El Salvador. All were illegally present in the United States, five of whom had allegedly been previously removed and have pending charges for illegal reentry.

Cavazos admitted someone had hired him to drive all 36 illegal aliens from a point near Donna to Houston.

He expected to receive $1,000 per alien he was transporting.

“Human smuggling is a dangerous, and sometimes deadly, practice, and those that choose to engage in it deserve the maximum punishment available,” said Ganjei. “All it would have taken here is a car accident or a cooling malfunction for these people to have lost their lives.”

Cavazos has been and will remain in custody pending transfer to a Federal Bureau of Prisons facility to be determined in the near future.

Immigration and Customs Enforcement – Homeland Security Investigations and BP conducted the investigation. Assistant U.S. Attorney Joseph Griffith prosecuted the case.

This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces and Project Safe Neighborhood.

MIL Security OSI –

May 15, 2025

MIL-OSI Economics: AGNICO EAGLE ANNOUNCES ADDITIONAL INVESTMENT IN FORAN MINING CORPORATION

Source: Agnico Eagle Mines

Stock Symbol: AEM (NYSE and TSX)

TORONTO, May 14, 2025 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle”) announced today that it has agreed to subscribe for 30,000,000 voting common shares (“Common Shares”) of Foran Mining Corporation (“Foran”) in a non-brokered private placement at a price of C$3.00 per Common Share for total consideration of C$90,000,000 (the “Private Placement”). The Private Placement is expected to close in two tranches. The closing of each tranche remains subject to certain closing conditions, including approval of the Toronto Stock Exchange, and closing of the second tranche is also subject to approval by the shareholders of Foran. Closing of the first tranche is expected to occur on or about May 28, 2025 and the second tranche is expected to close as soon as practicable following receipt of shareholder approval.

Agnico Eagle currently owns 39,125,448 Common Shares, representing approximately 9.9% of the issued and outstanding Common Shares on an undiluted basis. On closing of the first tranche of the Private Placement, Agnico Eagle is expected to own 64,454,767 Common Shares, which will represent approximately 13.1% of the issued and outstanding Common Shares on an undiluted basis (assuming that Foran issues an additional 73,173,590 Common Shares in connection with the first tranche of the concurrent private placements). On closing of the second tranche of the Private Placement, Agnico Eagle is expected to own 69,125,448 Common Shares, which will represent approximately 13.5% of the issued and outstanding Common Shares on an undiluted basis (assuming that Foran issues an additional 13,493,077 Common Shares in connection with the second tranche of the concurrent private placements).

Agnico Eagle and Foran are party to an investor rights agreement dated August 8, 2024 (the “Existing Agnico IRA”), pursuant to which Agnico Eagle is entitled to certain rights, provided Agnico Eagle maintains certain ownership thresholds, including: (a) the right to participate in certain equity financings by Foran to acquire up to the greater of: (i) 19.99% of the Common Shares being offered in the equity financing, or (ii) such number of Common Shares that would permit Agnico Eagle to maintain its pro rata ownership interest in Foran; (b) the right to top-up its holdings in relation to dilutive issuances by Foran in order to maintain its pro rata ownership interest in Foran; and (c) the right to nominate one person to the board of directors of Foran.

On the closing of the first tranche of the Private Placement, the Existing Agnico IRA will be amended and restated in order to, among other things: (a) amend the participation and top-up rights to permit Agnico Eagle to participate in equity financings and top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership interest in Foran at the time of such financing or acquire up to a 19.99% ownership interest in Foran; and (b) amend the nomination right to permit Agnico Eagle to nominate an additional individual to the board of directors of Foran if the size of the board is increased to 10 or more directors.

In addition, Agnico Eagle is announcing a previously reported follow-on investment in Azimut Exploration Inc. (“Azimut”). On September 28, 2023, Agnico Eagle acquired an additional 2,197,300 common shares (“Azimut Shares”) of Azimut at C$1.05 per Azimut Share (the “Share Purchases”) for total consideration of C$2,307,165 from several sellers that participated in an offering of flow-through Azimut Shares undertaken by Azimut at such time (as more particularly described in Azimut’s news release dated September 28, 2023). Prior to the Share Purchases, Agnico Eagle owned 8,003,425 Azimut Shares, representing approximately 10.06% of the issued and outstanding Azimut Shares on a undiluted basis at such time. Following the Share Purchases, Agnico Eagle owned 10,200,725 Azimut Shares, representing approximately 12% of the issued and outstanding Azimut Shares on a undiluted basis at such time.

Agnico Eagle is acquiring the Common Shares, and acquired the Azimut Shares for investment purposes. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares, Azimut Shares or other securities of Foran or Azimut, or dispose of some or all of the Common Shares, Azimut Shares or other securities of Foran or Azimut it owns at such time.

Separate early warning reports in respect of the Foran investment and the Azimut investment will be filed by Agnico Eagle today. To obtain a copy of either early warning report, please contact:

Agnico Eagle Mines Limited
c/o Investor Relations
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: investor.relations@agnicoeagle.com

Agnico Eagle’s head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. Foran’s head office is located at 409 Granville Street, Suite 904, Vancouver, British Columbia V6C 1Y2. Azimut’s head office is located at 110 De la Barre Street, Suite 224, Longueuil, Quebec J4K 1A3.

About Agnico Eagle

Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico, with a pipeline of high-quality exploration and development projects. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Forward-Looking Statements

The information in this news release has been prepared as at May 14, 2025. Certain statements in this news release, referred to herein as “forward-looking statements”, constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as “may”, “will” or similar terms.

Forward-looking statements in this news release include, without limitation, statements relating to the expected closing of the Private Placement (including the expected closing date of each tranche), the ability to satisfy closing conditions in respect of the Private Place (including obtaining approval of the Toronto Stock Exchange and the shareholders of the Foran), Agnico Eagle’s expected ownership interest in Foran upon closing of each tranche of the Private Placement, the expected number of securities to be issued in each tranche of the Private Placement and Agnico Eagle’s acquisition or disposition of securities of Foran or Azimut in the future.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Other than as required by law, Agnico Eagle does not intend, and does not assume any obligation, to update these forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/agnico-eagle-announces-additional-investment-in-foran-mining-corporation-302455954.html

SOURCE Agnico Eagle Mines Limited

MIL OSI Economics –

May 15, 2025

MIL-OSI USA: Congressman Jonathan L. Jackson Condemns Racially Biased Refugee Policy Under Trump Administration

Source: United States House of Representatives – Representative Jonathan Jackson – Illinois (1st District)

Washington, DC — In response to a New York Times report revealing that the Trump administration fast-tracked refugee admissions for white South Africans while continuing to block refugee access for Black and brown populations fleeing violence and persecution, Congressman Jonathan L. Jackson issued the following statement:

“The Trump administration’s decision to halt virtually all refugee admissions—except for white South Africans—is a flagrant abuse of power, driven not by humanitarian concern, but by a dangerous and racially selective ideology. Let’s be clear: there is no credible evidence that Afrikaners are facing racial genocide in South Africa. The President’s claim is false, and he knows it.

Meanwhile, the very same administration has turned its back on Congolese families stuck in refugee camps, Rohingya Muslims fleeing genocide in Myanmar, and Haitians escaping a nation whose capital is now controlled by violent gangs. Refugee policy should never be a tool of white grievance or racial favoritism—it should reflect our highest values of justice, compassion, and equal protection under international law.

To revoke Temporary Protected Status (TPS) from Haitians while fast-tracking white South Africans speaks volumes. It tells the world that, under this administration, Black and brown lives do not matter.

I stand with the global community in calling for a refugee policy rooted in truth, fairness, and humanity—not one twisted to serve a political agenda steeped in racial division. America must be a refuge for the persecuted, not a sanctuary for prejudice.”

Congressman Jackson is calling for immediate oversight hearings into the administration’s racially discriminatory refugee decisions and urges the Trump administration to restore a humane, equitable, and lawful refugee process.

###

MIL OSI USA News –

May 15, 2025

MIL-OSI USA: Must Watch: Rep Dan Goldman Grills Secretary Kristi Noem Over Violation of Kilmar Abrego Garcia’s Due Process Rights

Source: US Congressman Dan Goldman (NY-10)

Goldman: “How can you say he’s been treated appropriately if the Supreme Court has ruled 9-0 that he hasn’t been treated appropriately? Why does your opinion have more authority than the Supreme Court?”

Watch the Video of the Exchange Here

Washington, D.C. – Congressman Dan Goldman (NY-10) today cross-examined Department of Homeland Security Secretary Kristi Noem over the unlawful deportation of Kilmar Abrego Garcia, who the Secretary unlawfully deported to the notorious Salvadorian CECOT mega-prison as a result of an “administrative error” in March. Despite admitting his deportation was done in error and a unanimous Supreme Court ruling requiring the Secretary to actively facilitate Garcia’s return, she has taken no steps to return him to the United States pursuant to his constitutional right to due process.

A rush transcript of Congressman Goldman’s committee remarks is below:

Congressman Goldman: I would like to go back to Mr. Kilmar Abrego Garcia’s case, Madam Secretary. But my first question for you is a pretty simple one. It’s basic civics.

Which branch of government does the Constitution give the authority to interpret what the law is? The judiciary or the Executive Branch?

Secretary Noem: Sir, going forward, the interpretation of the law, you make the laws in this body, the Judicial Branch makes sure that they have integrity and they’re applied properly to individuals.

Congressman Goldman: Okay. So I’m just going to take that as the judiciary branch.

Now, let’s focus for a second on what the Judiciary Branch has said about this case. We know the Supreme Court has said nine to nothing– notwithstanding your statements under oath here today that Mr. Kilmar Abrego Garcia was afforded due process– that he was in fact not afforded due process because if he were, you would have seen the withholding order that did not permit him to be deported to El Salvador.

Now, you allege, and I guess the Attorney General alleges, that he’s a member of MS-13. That may very well be the case. And if he is, now that MS-13 is a Foreign Terrorist Organization, certainly the immigration laws would allow him and in fact to require him to be deported. I certainly would support that.

But the problem that we have here is that what you allege, what Ms. Green alleges, what the Attorney General alleges, is not the judiciary.

You don’t get to decide whether or not he is an MS-13 member.

And you don’t have to take my word for it, because Judge Wilkinson, a Fourth Circuit judge, very conservative, addressed this argument.

He said, “the government asserts that Kilmar Abrego Garcia is a terrorist and a member of MS-13. Perhaps, but perhaps not. Regardless, he is still entitled to due process. If the government is confident in its position, it should be assured that position will prevail in proceedings to terminate the withholding of removal order.”

Will you commit right now to give Mr. Abrego Garcia due process where you can prove your allegation that he is a member of MS13?

Secretary Noem: Congressman, that judge that you just quoted did not say he was not a member of MS-13. Who did say that he was a member of MS-13 was law enforcement officers that encountered this individual.

Congressman Goldman: Yeah, he knows that. This is a Fourth Circuit judge. He knows what all of the evidence is. And he’s saying if that evidence–

[Interruption]

So won’t commit to follow this court order?

[Interruption]

Madam Secretary, I reclaim my time. Stop filibustering.

[Interruption]

Stop filibustering.

Will you give Mr. Abrego Garcia the due process at the Supreme Court and Judge Wilkinson has required you to give him?

Secretary Noem: Abrego Garcia is an El Salvador resident who is in his home country. If he were to come back to this country, he would be immediately removed again.

Congressman Goldman: How do you know?

Secretary Noem: He has received and been treated appropriately.

Congressman Goldman: How can you say he’s been treated appropriately if the Supreme Court has ruled nine-nothing that he hasn’t been treated appropriately?

Why is your opinion better and have more authority than the Supreme Court?

Secretary Noem: We had instigators, two judges in immigration court that all said he was MS-13.

Congressman Goldman: But you understand that that is you saying that. That is you saying that.

[Interruption]

No. That is you making that determination. The court considered all that. The judge has considered all that, Madam Secretary.

[Interruption]

If you would be quiet because I’m reclaiming my time. You are not following this court order.

But let’s focus on the court order because this opinion also says that to facilitate, as the Supreme Court requires, is an active verb. It requires that steps be taken.

What steps have you taken to return Mr. Abrego Garcia to allow him to get due process?

Secretary Noem: Abrego Garcia is in his home country.

Congressman Goldman: What steps have been taken?

I’m not advocating for him. I’m advocating for a court order, Madam Secretary. The court order says that you must take steps to follow the court order.

You are here under oath. What steps have you taken to return Mr. Abrego Garcia pursuant to this court order?

Secretary Noem: It’s got to be extremely discouraging to be one of your constituents. To see you fight for a terrorist like this and not fight for them is extremely alarming to me.

Congressman Goldman: I’m fighting for due process, and that’s under the Constitution.

And you should fight too for due process.

###

MIL OSI USA News –

May 15, 2025

MIL-OSI Canada: HMCS William Hall Departs for Operation CARIBBE

Source: Government of Canada News (2)

May 14, 2025 – Ottawa, ON – National Defence / Canadian Armed Forces

On May 14, 2025, His Majesty’s Canadian Ship (HMCS) William Hall will depart from Halifax, Nova Scotia, to join Operation CARIBBE, Canada’s contribution to the U.S.-led enhanced counter-narcotics operations under the Joint Interagency Task Force South.

As noted in its name, Operation CARIBBE specifically aims to detect and interdict illicit drug trafficking in the Caribbean region. The Canadian Armed Forces (CAF) contribute naval and air capabilities to support these efforts, working closely with international partners to disrupt the flow of narcotics and enhance the safety and security of North America, the Caribbean, and South America. Operation CARIBBE underscores Canada’s commitment to international efforts aimed at curbing illicit trafficking and enhancing regional security.

HMCS William Hall’s deployment follows the recent success of HMCS Harry DeWolf, which assisted the United States Coast Guard (USCG) in seizing 750 kilograms of cocaine in the Caribbean Sea on March 1, 2025. This operation, supported by Colombian air and maritime assets, highlighted the strong interoperability and cooperation between the Royal Canadian Navy, the USCG, and other regional partners.

MIL OSI Canada News –

May 15, 2025

MIL-OSI Russia: Chinese Foreign Minister Meets with LAC Colleagues

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian –

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

BEIJING, May 14 (Xinhua) — Chinese Foreign Minister Wang Yi on Wednesday held separate meetings with the foreign ministers of Honduras Eduardo Enrique Reyna, Bolivia Celinda Sosa Lunda and Mexico Juan Ramon de la Fuente.

The above-mentioned senior diplomats arrived in China to attend the 4th Ministerial Meeting of the China-CELAC Forum (Community of Latin American and Caribbean States).

During the meeting with E.E. Reyna, Wang Yi, also a member of the Politburo of the CPC Central Committee, said China highly appreciates Honduras’ firm commitment to the one-China principle and supports the country in safeguarding its sovereignty, independence and national dignity.

As Wang Yi emphasized, China is willing to share its experience in public administration with Honduras, help the country choose a development path that suits national conditions and is supported by the people, and will continue to assist Honduras within its capabilities in improving the well-being of its people and building up its potential.

The Honduran Foreign Minister, for his part, pointed out that the Latin American and Caribbean countries (LAC) are deeply encouraged by the important cooperation initiatives put forward by Chinese President Xi Jinping. He noted that Honduras will firmly adhere to the one-China principle and translate the important agreements reached by the two heads of state into new practical results.

During the meeting with S. Sosa Lunda, the head of the Chinese Foreign Ministry pointed out that China highly appreciates Bolivia’s resolute commitment to defending national dignity, legitimate rights and interests without fear of external interference.

Wang Yi congratulated Bolivia on joining BRICS as a partner country and said that China hopes to expand communication and cooperation with the Bolivian side within the framework of multilateral mechanisms. The Chinese diplomat also called on both sides to further advance the high-quality joint construction of the Belt and Road.

S. Sosa Lunda, for her part, stressed that Bolivia is a strong defender of multilateralism and the right to national self-determination, attaches great importance to cooperation within the BRICS framework and wishes to use this platform to strengthen cohesion and mutual assistance among the countries of the Global South. She also emphasized that the commitment to the one-China principle is an unshakable position of Bolivia.

During his meeting with J.R. de la Fuente, Wang Yi said that China places relations with Mexico at the center of its diplomacy with LAC countries. He noted that, guided by the important consensus reached by the two heads of state, China is willing to share with Mexico its experience in comprehensively promoting Chinese-style modernization and the opportunities offered by the Chinese mega-market.

China welcomes more high-quality products from Mexico to enter its market and will encourage Chinese enterprises to invest and do business in Mexico, the Chinese foreign minister added.

J. R. de la Fuente, in turn, pointed out that Mexico firmly adheres to sovereignty and independence and will continue to strictly adhere to the one-China principle. According to him, Mexico expects to strengthen cooperation between the two countries in areas such as connectivity, science and technology, agriculture, tourism and direct flights, and continuously enrich the content of Mexico-China relations. –0–

MIL OSI Russia News –

May 15, 2025

MIL-OSI Security: U.S. Marshals Capital Area Regional Fugitive Task Force Continues to Protect Virginia Streets

Source: US Marshals Service

Newport News, VA – The U.S. Marshals Service Capital Area Regional Fugitive Task Force (CARFTF) April 30 arrested in Newport News a fugitive wanted on sexual assault charges.

Mateo Juan Nicolas, 24, is alleged to have used force in the rape a minor in a vehicle April 25 in Greene County.

Greene County Sheriff’s Office requested assistance from CARFTF April 28 in locating and arresting Nicolas, who is originally from Guatemala.

CARFTF arrested Nicolas without incident at the intersection of 36th Street and Jefferson Avenue.

He was transported to the city jail in Newport News and booked on the active warrants.

Since 2004, the Capital Area Regional Fugitive Task Force has focused resources and efforts on the enhancement of public safety and the reduction of violence within the National Capital Region, through the identification, investigation, and apprehension of fugitives wanted for egregious crimes against the community, while ensuring the equal application of Justice, Integrity, and Service for all.

MIL Security OSI –

May 15, 2025

Category: Latin America

The Order of St. Augustine

Augustine’s scholarship