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Category: Middle East

  • MIL-OSI Europe: Written question – From development aid to economic diplomacy – E-001680/2025

    Source: European Parliament

    Question for written answer  E-001680/2025
    to the Commission
    Rule 144
    Benoit Cassart (Renew)

    Many African countries yearn to take control of their economic future. The continent is experiencing unprecedented population growth: it will have a population of 2.5 billion by 2050, and an educated, connected and urbanised youth is emerging, in search of economic opportunities and industrialisation.

    Dynamic economic hubs – such as Nigeria, Kenya, Ghana, Morocco and Egypt – are asserting their desire for internally generated development, focusing on strategic sectors such as renewable energies, the digital sector, agro-industry and services. Africa is therefore seeking reciprocal economic partnerships that integrate investment, technology transfer, innovation and the development of local economies.

    • 1.Given the rapid development of Africa’s economies and mounting global competition, can the Commission continue to rely solely on a development aid approach or should it bring about a paradigm shift, establishing genuine economic diplomacy that is more agile, more proactive and better coordinated, based on partnerships of equals with Africa?
    • 2.Should the Commission not ensure a greater role for Europe’s private sector – often absent from the major Global Gateway operations – and improve financing and guarantee mechanisms for EU companies willing to invest on the African continent?

    Submitted: 25.4.2025

    Last updated: 5 May 2025

    MIL OSI Europe News –

  • MIL-OSI Video: India/Pakistan & other topics – Daily Press Briefing | United Nations

    Source: United Nations (Video News)

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

    Highlights:

    – India/Pakistan
    – Secretary-General/Trip Announcement
    – Sudan
    – Sudan/Humanitarian
    – South Sudan
    – Gaza
    – Occupied Palestinian Territory
    – Lebanon
    – Ukraine
    – Senior Personnel Appointment – Cyprus
    – Cyprus
    – Portuguese Language Day

    INDIA/PAKISTAN 
    The Secretary-General spoke to reporters just an hour ago to say that, with tensions between India and Pakistan at their highest in years, he once again strongly condemns the attack in Pahalgam on 22 April and extends his condolences to the families of the victims. He said that those responsible must be brought to justice through transparent, credible, and lawful means. 
    The Secretary-General said that it is also essential – especially at this critical hour — to avoid a military confrontation that could easily spin out of control. Now is the time for maximum restraint and stepping back from the brink. 
    He once more offered his good offices to both governments in the service of peace.  

    SECRETARY-GENERAL/ TRIP ANNOUNCEMENT 
    The Secretary-General will be travelling to Copenhagen, in Denmark, tonight, where he will chair the biannual session of the UN System Chief Executives Board for Coordination, also known as the CEB, which brings together the heads of the UN system organizations. 
    The Secretary-General is scheduled to meet the Prime Minister of Denmark, Mette Frederiksen. He will also take part in a dinner, hosted by Their Majesties, the King and Queen of Denmark, in honour of the gathered leaders of the Chief Executives Board for Coordination.  
    The Secretary-General will also engage with UN staff based in Copenhagen, as well as with Danish media and he will have a number of meetings with UN senior officials, ahead of the CEB session.  
    During their biannual session, the Chief Executives Board Members will reflect on current world affairs as they affect and are related to the UN system. They will also engage in deliberations on ‘Adapting to New Realities: Leveraging the UN80 Initiative’ and ‘Upholding Respect for International Law’. 
    The Secretary-General will be back in New York on Friday evening. 

    Full Highlights: https://www.un.org/sg/en/content/ossg/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=05%20May%202025

    https://www.youtube.com/watch?v=irQjqaS5q20

    MIL OSI Video –

  • MIL-OSI Video: Gaza: Israeli aid distribution plan contravenes humanitarian principles, UN says | United Nations

    Source: United Nations (Video News)

    The humanitarian situation in the Gaza Strip is worsening as Israel’s total blockade enters its ninth week. The UN Office for the Coordination of Humanitarian Affairs (OCHA) says that Israel’s proposed aid distribution plan, which it seeks to implement under its direct supervision, contradicts fundamental humanitarian principles, endangers civilian lives and relief efforts, and contributes to the intensification of forced displacement.

    https://www.youtube.com/watch?v=0PlMpoko490

    MIL OSI Video –

  • MIL-OSI USA: Fischer on Senate Floor: Congress Must Pass the Foreign Adversary Communications Transparency Act

    US Senate News:

    Source: United States Senator for Nebraska Deb Fischer
    Today, during a speech on the Senate floor, U.S. Senator Deb Fischer (R-Neb.) called on her colleagues to pass her Foreign Adversary Communications Transparency (FACT) Act – approved by the Senate Commerce Committee last week – which will require the Federal Communications Commission (FCC) to publicly identify entities that hold FCC licenses, authorizations, or other grants of authority that are owned, wholly or partially, by foreign adversarial governments.
    In her remarks, Fischer highlights the threats the United States faces from companies with strong ties to foreign adversaries. She specifically calls out Huawei, a major global supplier of cellphone network equipment, citing its troubling and potentially dangerous access to critical communications infrastructure.
    Click the image above to watch a video of Fischer’s remarks.
    Click here to download audio 
    Click here to download video
    Following is a transcript of Fischer’s remarks as prepared for delivery:M. President,
    Last week, my bill, the Foreign Adversary Communication Transparency Act—or FACT Act— cleared the Commerce Committee unanimously. Now, it will come before us here, on the Senate floor, for a vote.
    I stand before you today because the threat our foreign adversaries pose is not a distant concern. It is real, it is relentless, and it is constantly evolving.
    We cannot afford to wait and deal with the consequences. The cost of inaction is too great.
    Congress must anticipate the threats and we must work together to curb the malign influence of foreign adversaries like Communist China, Russia, Iran, and North Korea.
    For too long now, we have allowed foreign adversarial governments to secure a silent foothold in our telecommunications infrastructure.
    Take, for example, Huawei.
    Huawei, a Chinese-owned telecommunications giant, is one of the leading producers of cellphone network equipment. This equipment spans across our country and finds its home in most of our cellular devices.
    Over a decade ago, our intelligence agencies began noticing a peculiar pattern of Huawei equipment on cell towers across my home state of Nebraska, as well as nearby Colorado and Montana. That Chinese gear was clustered near sensitive military assets, including Nebraska’s Offutt Air Force Base and our nuclear missile silos.
    Then, just four years ago, U.S. intelligence officials sounded the alarm. Their investigations found that Huawei could secretly access mobile phone networks around the world through “back doors” – unbeknownst to carriers.
    And perhaps even more concerning: Huawei has had this capability for more than a decade.
    And, Huawei’s ownership is bankrolled by billions of dollars from the Chinese government.
    What government freely hands over that kind of money without expecting something in return?
    Despite being based in China and having deep connections to the Chinese Communist Party—as confirmed by the U.S. intelligence community—the company continues to refuse to acknowledge the Chinese government’s influence.
    However, in 2020, under President Trump’s administration, the Federal Communications Commission designated Huawei as a national security threat and banned the sale of its telecommunications equipment in the United States. This past December, Congress also secured the remaining funding to enable smaller, rural communications companies to rip risky Chinese-made equipment out of their networks.
    In 2022, the Justice Department charged two Chinese intelligence officers with an unsettling crime: attempting to obstruct a federal investigation into Huawei by stealing sensitive case material from a U.S. District Attorney’s office.
    Colleagues, I pose to you this question: Why would the Chinese government go to such lengths to interfere in a case involving a so-called ‘private company’ in which they have no stake? They wouldn’t.
    While recent actions to curtail Huawei equipment, and those from other high-risk Chinese firms, are steps in the right direction, they don’t go far enough.
    We must have far greater transparency about which companies holding federal communications licenses and authorizations also have influential ties to foreign adversarial governments.
    And we must look deeper at: Who has this access? And, how many more companies like Huawei are out there?
    Companies like Huawei must be stopped. We can no longer permit authoritarian regimes, like China, to infiltrate our networks and lurk in the shadows, waiting for the opportune moment to strike. It is not enough to brace ourselves for the aftermath of disaster. We must root out the threat before it has time to fester.
    The reality is that our foreign adversaries have stakes in numerous companies operating freely and legally within the United States.
    Yet, in many cases, the public remains unaware of which companies are owned – wholly or partially – by these adversaries.
    That’s why, today, I call upon the Senate to pass my FACT Act, which takes a much-needed step to strengthen our visibility into our telecommunications market to weed out that access we have seen from malicious foreign adversaries.
    Because the first step in defending our national security is understanding the threat.
    My bill directs the Federal Communications Commission to publicly identify any companies – with an FCC license or authorization – that are owned by foreign adversarial governments. Under the FACT Act, companies with foreign ties will no longer be able to operate in secrecy. And they will no longer be able to conceal their financial backers or obscure their true loyalties.
    Huawei should serve as a warning. China is on the offensive, to undermine the security of America’s communications. An attack on our networks is a direct attack on the United States, and it is not one we should tolerate.
    Thank you, M. President, I yield the floor.

    MIL OSI USA News –

  • MIL-OSI USA News: Fact Sheet: President Donald J. Trump Achieves Improved Safety and Security of Biological Research

    Source: The White House

    PROTECTING AMERICANS FROM DANGEROUS GAIN OF FUNCTION RESEARCH: Today, President Donald J. Trump signed an Executive Order to improve the safety and security of biological research in the United States and around the world. This Executive Order:

    • Ends any present and all future Federal funding of dangerous gain-of-function research in countries of concern like China and Iran and in foreign nations deemed to have insufficient research oversight.
    • Empowers American research agencies to identify and end Federal funding of other biological research that could pose a threat to American public health, public safety, or national security.
    • Prohibits Federal funding from contributing to foreign research likely to cause another pandemic. These measures will drastically reduce the potential for lab-related incidents involving gain-of-function research, like that conducted on bat coronaviruses in China by the EcoHealth Alliance and Wuhan Institute of Virology.
    • Protects Americans from lab accidents and other biosecurity incidents, such as those that likely caused COVID-19 and the 1977 Russian flu.

    ESTABLISHING SAFE AND SECURE OVERSIGHT OF DANGEROUS GAIN OF FUNCTION RESEARCH IN THE UNITED STATES: This Executive Order will increase the safety and security of biological research for Americans without impeding U.S. innovation.

    • For decades, policies overseeing gain-of-function research on pathogens, toxins, and potential pathogens have lacked adequate enforcement, transparency, and top-down oversight. Researchers have not acknowledged the legitimate potential for societal harms that this kind of research poses.
    • The Biden Administration allowed dangerous gain-of-function research with insufficient levels of oversight and actively approved Federal life-science research funding in China and other countries.
    • The 2024 United States Government Policy for Oversight of Dual Use Research of Concern and Pathogens with Enhanced Pandemic Potential (“DURC/PEPP”) and the 2024 Framework for Nucleic Acid Synthesis Screening are the latest examples of inadequate policies that rely on self-reporting and fail to protect Americans from dangerous research practices.
    • This Order pauses research using infectious pathogens and toxins in the United States that may pose a danger to American citizens until a safer, more enforceable, and transparent policy governing such research can be developed and implemented. It directs the Director of the Office of Science and Technology Policy (OSTP) and the National Security Advisor (NSA) to work with funding agencies to develop such a policy within 120 days.
    • Unlike previous policies, this Order contains enforcement and reporting mechanisms that will strengthen oversight and discourage subjective interpretation of policies that researchers have used in the past to evade biosafety and biosecurity oversight.

    SAFEGUARDING THE FUTURE AND PROMOTING AMERICAN BIOTECHNOLOGY DOMINANCE: President Trump is driving us into the Golden Age of American Innovation that will lead us to a safer, healthier, and more prosperous America.

    • This Order protects Americans from dangerous gain-of-function research that manipulates viruses and other biological agents and toxins, but it does not impede productive biological research that will ensure the United States maintains readiness against biological threats and continues to drive global leadership in biotechnology, biosecurity, and health research.
    • President Trump has long theorized that COVID-19 originated from a lab leak at the Wuhan Institute of Virology and has consistently pushed for transparency in investigating its origins.

    MIL OSI USA News –

  • MIL-OSI USA: Griffith Statement on President Trump Executive Order Targeting Gain-of-Function Research

    Source: United States House of Representatives – Congressman Morgan Griffith (R-VA)

    U.S. President Donald J. Trump signed an Executive Order to halt U.S. federal funding of gain-of-function research in overseas countries, like China and Iran, without proper oversight measures. In response to the Executive Order, U.S. Congressman Morgan Griffith (R-VA) issued the following statement:

    “President Trump’s decisive action against gain-of-function research is a significant step towards greater government agency accountability. While this news is welcomed by many who have closely investigated COVID-19 origins, I believe future congressional action is essential to monitoring gain-of-function research of concern, reforming our public health agencies and protecting American life from risky experiments that involve dangerous virus transmission in humans.”

    BACKGROUND

    In the 118th Congress, Rep. Griffith chaired the House Committee on Energy and Commerce Subcommittee on Oversight & Investigations.

    Rep. Griffith chaired hearings on various issues, including but not limited to topics of biosafety and risky research. 

    Rep. Griffith was the lead Energy and Commerce Member in numerous forums with public health officials that were in various leadership positions during the outbreak of COVID-19, including working closely with the Select Subcommittee on the Coronavirus Pandemic.

    During this time, Chairman Griffith participated in closed-door transcribed interviews questioning former National Institute of Allergy and Infectious Diseases (NIAID) Director Dr. Anthony Fauci and questioning former National Institutes of Health (NIH) Director Dr. Frances Collins.

    Rep. Griffith was also a key figure in examining EcoHealth Alliance President Dr. Peter Daszak. 

    EcoHealth is the company that received grants from NIAID which in turn gave subgrants to the Wuhan Institute of Virology to conduct research on Coronavirus evolution and transmission. 

    Because of questions asked by Rep. Griffith related to significant inconsistencies and delays in required reports, among others, the U.S. Department of Health and Human Services recently announced that Dr. Daszak and EcoHealth Alliance would be debarred for five years, cutting them off from U.S. federal funding.

    In January of 2025, the Wall Street Journal reported that President Trump was considering an Executive Order to halt federal funding to gain-of-function research. In response, Rep. Griffith called on President Trump to scrutinize the country’s national gain-of-function research policy.

    Some of Rep. Griffith’s e-newsletters on these topics can be found here and here.

    In March, Rep. Griffith introduced the Risky Research Review Act and the Royalty Transparency Act to rein in the federal health bureaucracy.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Kennedy in the Washington Times: Congress must help Trump admin hold IMF accountable

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)
    WASHINGTON – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, penned this op-ed in the Washington Times arguing that Congress must step up to help the Trump administration hold the International Monetary Fund (IMF) accountable for its dangerous lending practices.
    Key excerpts of the op-ed are below:
    “Treasury Secretary Scott Bessent recently argued that the United States must play a bigger role in global multinational organizations such as the International Monetary Fund, not a smaller role. He’s right, and Congress needs to join in this effort.
    “For several years, the IMF has acted more like a social justice fan club than a financial institution. It has strayed far from its original mission of promoting global monetary cooperation and economic stability by focusing on gender issues and climate change.
    “However, the problems at the IMF extend well beyond a failure to adhere to its mission. By making irresponsible lending decisions, the IMF has actively facilitated global instability by doling out billions of dollars to countries that promote terrorism and genocide.”
    . . .
    “Given that the U.S. is the IMF’s single largest financial contributor, this allocation was essentially a handout funded by American taxpayers to many countries that hate us. China received a roughly $38.3 billion dividend, Russia collected $16.2 billion, and Iran raked in $4.5 billion.”
    . . .
    “I introduced the No Dollars for Dictators Act to require congressional approval before a single penny’s worth of funding from the IMF goes to perpetrators of genocide or state sponsors of terrorism. Congress cannot sit on the sidelines while American tax dollars pour into the pockets of terrorists and dictators.
    “The Biden administration showed the world what chaos can unfold when the U.S. fails to put its interests first. The Trump administration is right to remind the IMF and organizations like it that America’s interests will not take a back seat to the whims of activists.”
    Read Kennedy’s full op-ed here.  Full text of the No Dollars for Dictators Act of 2025 is available here.

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Tuberville Discusses Space, Defense Budget with additional DoD Nominees

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)
    WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) spoke with Daniel Zimmerman, Justin Overbaugh, and Matthew Lohmeier, President Trump’s nominees to be the Assistant Secretary of Defense for International Security Affairs, Deputy Under Secretary of Defense for Intelligence and Security, and Under Secretary of the Air Force, respectively.
    Excerpts from Senator Tuberville’s conversation with the nominees can be found below, and the full conversation can be found on YouTube or Rumble.
    ON CENTCOM TARGETING HOUTHIS AS FTO
    TUBERVILLE: “Thank you, Mr. Chairman. Thank you, gentlemen, for [your] willingness to serve. Mr. Zimmerman, since March 15th, CENTCOM forces have conducted a sustained campaign targeting the Houthi terrorist organization in Yemen to restore freedom of navigation and American deterrence. As of April 27th, CENTCOM has struck over 800 targets. These targets have killed hundreds of Houthi fighters and numerous Houthi leaders, including senior Houthi missile and UAV officials. Mr. Zimmerman, in your assessment, have U.S. operations against the Houthis been a success?”
    ZIMMERMAN: “Senator, I support the administration’s forcible approach toward the Houthis beginning in the early days of the administration with the Executive Order that called for the elimination of the threat of the Houthis with allies and designated them as a Foreign Terrorist Organization. I don’t think I have access to the classified information that I would like to have to make an assessment about the efficacy of these strikes, but I support what the administration is trying to do.”
    ON MSIC IN HUNTSVILLE, ALABAMA
    TUBERVILLE: “Thank you. Mr. Overbaugh, one of the organizations you will help oversee if you are confirmed is the Missile and Space Intelligence Center—we call MSIC—which is a component of DIA and located in my state [in] Huntsville, Alabama. MSIC provides a world-class analysis on the performance of foreign weapons systems, which is critical to ensuring our warfighters dominate the battlefield against our adversaries. Mr. Overbaugh, are you familiar with MSIC and MSIC’s analysis, and if so, can you talk a little bit about how important this mission is?”
    OVERBAUGH: “Senator, I am familiar with MSIC and particularly their role in feeding quality intelligence into other entities like DIA to ensure that we have an accurate threat picture. I think even more important is the potential for MSIC to play a key role to ensure we understand the key adversarial threat as it relates to ensuring that our Golden Dome is as effective as it possibly can be.”
    TUBERVILLE: “Have you had the opportunity to visit MSIC headquarters in Huntsville?”
    OVERBAUGH: “Huntsville, yes. MSIC, no.”
    TUBERVILLE: “Thank you. Hopefully you get to soon. Thank you.”
    ON SUPPORTING FISCAL RESPONSIBILITY AT DOD
    TUBERVILLE: “Mr. Lohmeier, you have an absolutely outstanding unique career path as a military officer. Thank you for your service. You’ve got a breadth of experience in both Air Force and Space Force, which is very uncommon, but none of those experiences are with managing large budgets. Why should you be trusted now with such a heavy responsibility at a time when we are taking [fiscal] responsibility more seriously—thank goodness—than ever before, and while there is a growing demand from the American people that we have a clean audit of the defense department?”
    LOHMEIER: “Thanks, Senator. I’m glad that I get to readdress this. While it’s true that I don’t personally have extensive experience with a large budget in a large organization or acquisition experience, I have sound judgment. I’ve demonstrated it throughout my life. I’m a fast learner. Secretary Meink, if he’s confirmed, has demonstrated that you can pass 16 or 17 clean audits at the National Reconnaissance Office. He’ll be a phenomenal leader to work with on this problem in the Department of the Air Force. What I can say is that we’ve got exceptional professionals who’ve been trying administration after administration to solve our problems—our budget problems, our acquisition problems in the Department of the Air Force—and many of them have had extensive acquisition and budgeting experience, but that doesn’t mean you’re able to solve the problems well. And so, if confirmed, what I can commit to this committee and to the American people is that I’m interested in making data-driven decisions. I’m interested in exercising keen judgement and discernments about these budget decisions, and coming to the right decisions that I believe the American people would be grateful for and trust—and doing that in concert with Secretary Meink and in support of the President’s priorities and in support of the Secretary of Defense’s priorities.”
    TUBERVILLE: “Thank you, and your knowledge will be very important moving into space. You have a lot of experience in that area. We look forward to working with you in that area because as we know, it is going to be a much, much more important part of our military in the very near future. Thank you, gentlemen. Look forward to confirming you.”
    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI: Diamondback Energy, Inc. Announces First Quarter 2025 Financial and Operating Results

    Source: GlobeNewswire (MIL-OSI)

    MIDLAND, Texas, May 05, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the first quarter ended March 31, 2025.

    FIRST QUARTER 2025 AND RECENT HIGHLIGHTS

    • Average oil production of 475.9 MBO/d (850.7 MBOE/d)
    • Net cash provided by operating activities of $2.4 billion; Operating Cash Flow Before Working Capital Changes (as defined and reconciled below) of $2.5 billion
    • Cash capital expenditures of $942 million
    • Free Cash Flow (as defined and reconciled below) of $1.5 billion; Adjusted Free Cash Flow (as defined and reconciled below) of $1.6 billion
    • Declared Q1 2025 base cash dividend of $1.00 per share payable on May 22, 2025; implies a 2.9% annualized yield based on May 2, 2025 closing share price of $136.81
    • Repurchased 3,656,044 shares of common stock in Q1 2025 for $575 million excluding excise tax (at a weighted average price of $157.15 per share); repurchased 1,965,180 shares of common stock to date in Q2 2025 for $255 million excluding excise tax (at a weighted average price of $129.71 per share)
    • Total Q1 2025 return of capital of $864 million; represents ~55% of Adjusted Free Cash Flow (as defined and reconciled below) from stock repurchases and the declared Q1 2025 base dividend
    • As previously announced, closed acquisition of certain subsidiaries of Double Eagle IV Midco, LLC (“Double Eagle”) on April 1st
    • Closed drop down transaction to Viper Energy, Inc. (“Viper”), a subsidiary of Diamondback, on May 1st

    UPDATED 2025 GUIDANCE HIGHLIGHTS

    As a result of recent commodity price volatility, Diamondback is reducing activity in order to prioritize free cash flow generation. The Company believes this revised plan enhances capital efficiency and provides flexibility to (i) cut additional capital if prices weaken further or (ii) resume its original 2025 plan if commodity prices strengthen.

    • Full year oil production of 480 – 495 MBO/d (857 – 900 MBOE/d)
    • Full year 2025 cash capital expenditures guidance of $3.4 – $3.8 billion
    • The Company expects to drill 385 – 435 gross (349 – 395 net) wells and complete between 475 – 550 gross (444 – 514 net) wells with an average lateral length of approximately 11,500 feet in 2025
    • Q2 2025 oil production guidance of 485 – 500 MBO/d (866 – 900 MBOE/d)
    • Q2 2025 cash capital expenditures guidance of $800 – $900 million
    • Implies full year 2025 oil production per million dollars of cash capital expenditures (“MBO per $MM of CAPEX”) of 49.4, ~10% better than the Company’s original full year 2025 guidance provided in February 2025

    OPERATIONS UPDATE

    The tables below provide a summary of operating activity for the first quarter of 2025.

    Total Activity (Gross Operated):          
      Number of Wells Drilled
    		   Number of Wells Completed
    Midland Basin                 124             116  
    Delaware Basin                 2             7  
    Total                 126             123  
    Total Activity (Net Operated):          
      Number of Wells Drilled
    		   Number of Wells Completed
    Midland Basin                 116             112  
    Delaware Basin                 2             7  
    Total                 118             119  
     

    During the first quarter of 2025, Diamondback drilled 124 gross wells in the Midland Basin and two gross wells in the Delaware Basin. The Company turned 116 operated wells to production in the Midland Basin and seven gross wells in the Delaware Basin, with an average lateral length of 11,978 feet. Operated completions during the first quarter consisted of 30 Wolfcamp A wells, 28 Lower Spraberry wells, 22 Wolfcamp B wells, 17 Jo Mill wells, eight Middle Spraberry wells, four Dean wells, four Barnett wells, three Third Bone Spring wells, three Wolfcamp D wells, two Second Bone Spring wells and two Upper Spraberry wells.

    FINANCIAL UPDATE

    Diamondback’s first quarter 2025 net income was $1.4 billion, or $4.83 per diluted share. Adjusted net income (as defined and reconciled below) for the first quarter was $1.3 billion, or $4.54 per diluted share.

    First quarter 2025 net cash provided by operating activities was $2.4 billion.

    During the first quarter of 2025, Diamondback spent $864 million on operated drilling and completions, $21 million on capital workovers and non-operated drilling and completions and $57 million on infrastructure, environmental and midstream, for total cash capital expenditures of $942 million.

    First quarter 2025 Consolidated Adjusted EBITDA (as defined and reconciled below) was $2.9 billion. Adjusted EBITDA net of non-controlling interest (as defined and reconciled below) for the first quarter was $2.8 billion.

    Diamondback’s first quarter 2025 Free Cash Flow (as defined and reconciled below) was $1.5 billion. Adjusted Free Cash Flow (as reconciled and defined below) for the first quarter was $1.6 billion.

    First quarter 2025 average unhedged realized prices were $70.95 per barrel of oil, $2.11 per Mcf of natural gas and $23.94 per barrel of natural gas liquids (“NGLs”), resulting in a total equivalent unhedged realized price of $47.77 per BOE.

    Diamondback’s cash operating costs for the first quarter of 2025 were $10.48 per BOE, including lease operating expenses (“LOE”) of $5.33 per BOE, cash general and administrative (“G&A”) expenses of $0.72 per BOE, production and ad valorem taxes of $2.98 per BOE and gathering, processing and transportation expenses of $1.45 per BOE.

    As of March 31, 2025, Diamondback had $1.3 billion in standalone cash and no borrowings outstanding under its revolving credit facility, with approximately $2.5 billion available for future borrowings under the facility and approximately $3.8 billion of total liquidity. As of March 31, 2025, the Company had consolidated total debt of $14.1 billion and consolidated net debt (as defined and reconciled below) of $12.3 billion, up from consolidated total debt of $13.2 billion and consolidated net debt of $13.0 billion as of December 31, 2024.

    DIVIDEND DECLARATIONS

    Diamondback announced today that the Company’s Board of Directors declared a base cash dividend of $1.00 per common share for the first quarter of 2025 payable on May 22, 2025 to stockholders of record at the close of business on May 15, 2025.

    Future base and variable dividends remain subject to review and approval at the discretion of the Company’s Board of Directors.

    COMMON STOCK REPURCHASE PROGRAM

    During the first quarter of 2025, Diamondback repurchased ~3.7 million shares of common stock at an average share price of $157.15 for a total cost of approximately $575 million, excluding excise tax. To date, Diamondback has repurchased ~30.2 million shares of common stock at an average share price of $137.55 for a total cost of approximately $4.2 billion and has approximately $1.8 billion remaining on its current share buyback authorization. Subject to factors discussed below, Diamondback intends to continue to purchase common stock under the common stock repurchase program opportunistically with cash on hand, free cash flow from operations and proceeds from potential liquidity events such as the sale of assets. This repurchase program has no time limit and may be suspended from time to time, modified, extended or discontinued by the Board at any time. Purchases under the repurchase program may be made from time to time in privately negotiated transactions, or in open market transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and will be subject to market conditions, applicable regulatory and legal requirements and other factors. Any common stock purchased as part of this program will be retired.

    FULL YEAR 2025 GUIDANCE

    Below is Diamondback’s updated guidance for the full year 2025, which includes second quarter production, cash tax and capital guidance. Given recent weakness in commodity prices, the Company is reducing its activity levels and lowering its capital budget to prioritize free cash generation. Diamondback will continue to closely monitor the macro environment and has flexibility to (i) cut additional capital if prices weaken further or (ii) resume its original 2025 plan if commodity prices strengthen.

      2025 Guidance 2025 Guidance
      Diamondback Energy, Inc. Viper Energy, Inc.
         
    2025 Net production – MBOE/d 857 – 900 (from 883 – 909) 74.5 – 79.0
    2025 Oil production – MBO/d 480 – 495 (from 485 – 498) 41.0 – 43.5
    Q2 2025 Oil production – MBO/d (total – MBOE/d) 485 – 500 (866 – 900) 40.0 – 43.0 (72.5 – 78.0)
         
    Unit costs ($/BOE)    
    Lease operating expenses, including workovers $5.65 – $6.05 (from $5.90 – $6.30)  
    G&A    
    Cash G&A $0.60 – $0.75 $0.80 – $1.00
    Non-cash equity-based compensation $0.25 – $0.35 $0.10 – $0.20
    DD&A $14.00 – $15.00 $15.50 – $16.50
    Interest expense (net of interest income) $0.40 – $0.65 (from $0.25 – $0.50) $2.00 – $2.50
    Gathering, processing and transportation $1.40 – $1.60 (from $1.20 – $1.40)  
         
    Production and ad valorem taxes (% of revenue) ~7% ~7%
    Corporate tax rate (% of pre-tax income) 23%  
    Cash tax rate (% of pre-tax income) 19% – 22% (from 17% – 20%) 21% – 23%
    Q2 2025 Cash taxes ($ – million)(1) $340 – $400 $10 – $15
         
    Capital Budget ($ – million)    
    Operated drilling and completion $2,780 – $3,090 (from $3,130 – $3,440)  
    Capital workovers, non-operated properties and science $280 – $320  
    Infrastructure, environmental and midstream(2) $340 – $390 (from $390 – $440)  
    2025 Total capital expenditures $3,400 – $3,800 (from $3,800 – $4,200)  
    Q2 2025 Capital expenditures $800 – $900  
         
    Gross horizontal wells drilled (net) 385 – 435 (349 – 395) (from 446 – 471 (406 – 428))  
    Gross horizontal wells completed (net) 475 – 550 (444 – 514) (from 557 – 592 (526 – 560))  
    Average lateral length (Ft.) ~11,500′  
    FY 2025 Midland Basin well costs per lateral foot $550 – $590 (from $555 – $605)  
    FY 2025 Delaware Basin well costs per lateral foot $860 – $910  
    Midland Basin completed net lateral feet (%) ~95%  
    Delaware Basin completed net lateral feet (%) ~5%  
    (1) Includes approximately $170 million of cash taxes related to the Viper dropdown transaction.
    (2) Includes approximately $60 million in estimated midstream capital expenditures for the full year 2025.
       


    CONFERENCE CALL

    Diamondback will host a conference call and webcast for investors and analysts to discuss its results for the first quarter of 2025 on Tuesday, May 6, 2025 at 8:00 a.m. CT. Access to the webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Diamondback’s website at www.diamondbackenergy.com under the “Investor Relations” section of the site.

    About Diamondback Energy, Inc.

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Diamondback’s: future performance; business strategy; future operations (including drilling plans and capital plans); estimates and projections of revenues, losses, costs, expenses, returns, cash flow, and financial position; reserve estimates and its ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the recently completed Endeavor merger, the recently completed Double Eagle acquisition and other acquisitions or divestitures); and plans and objectives of management (including plans for future cash flow from operations and for executing environmental strategies) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Diamondback are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback’s control. Accordingly, forward-looking statements are not guarantees of future performance and Diamondback’s actual outcomes could differ materially from what Diamondback has expressed in its forward-looking statements.

    Factors that could cause the outcomes to differ materially include (but are not limited to) the following: changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; the impact of public health crises, including epidemic or pandemic diseases and any related company or government policies or actions; changes in U.S. energy, environmental, monetary and trade policies, including with respect to tariffs or other trade barriers, and any resulting trade tensions; actions taken by the members of OPEC and Russia affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments, including any impact of the ongoing war in Ukraine and the Israel-Hamas war on the global energy markets and geopolitical stability; instability in the financial markets; inflationary pressures; higher interest rates and their impact on the cost of capital; regional supply and demand factors, including delays, curtailment delays or interruptions of production, or governmental orders, rules or regulations that impose production limits; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change; those risks described in Item 1A of Diamondback’s Annual Report on Form 10-K, filed with the SEC on February 26, 2025, and those risks disclosed in its subsequent filings on Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the SEC’s website at http://www.sec.gov and Diamondback’s website at www.diamondbackenergy.com/investors.

    In light of these factors, the events anticipated by Diamondback’s forward-looking statements may not occur at the time anticipated or at all. Moreover, Diamondback operates in a very competitive and rapidly changing environment and new risks emerge from time to time. Diamondback cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements. All forward-looking statements speak only as of the date of this letter or, if earlier, as of the date they were made. Diamondback does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.

     
    Diamondback Energy, Inc.
    Condensed Consolidated Balance Sheets
    (unaudited, in millions, except share amounts)
           
      March 31,   December 31,
       2025    2024
    Assets      
    Current assets:      
    Cash and cash equivalents ($560 million and $27 million related to Viper)         $         1,816     $         161  
    Restricted cash                   225               3  
    Accounts receivable:      
    Joint interest and other, net                   257               198  
    Oil and natural gas sales, net ($146 million and $149 million related to Viper)                    1,334               1,387  
    Inventories                   117               116  
    Derivative instruments                   267               168  
    Prepaid expenses and other current assets                   67               77  
    Total current assets                   4,083               2,110  
    Property and equipment:      
    Oil and natural gas properties, full cost method of accounting ($22,019 million and $22,666 million excluded from amortization at March 31, 2025 and December 31, 2024, respectively) ($6,097 million and $5,713 million related to Viper and $2,279 million and $2,180 million excluded from amortization related to Viper)                   83,727               82,240  
    Other property, equipment and land                   1,452               1,440  
    Accumulated depletion, depreciation, amortization and impairment ($1,148 million and $1,081 million related to Viper)                   (20,283 )             (19,208 )
    Property and equipment, net                   64,896               64,472  
    Funds held in escrow                   208               1  
    Equity method investments                   383               375  
    Derivative instruments                   61               2  
    Deferred income taxes, net ($249 million and $185 million related to Viper)                   235               173  
    Other assets                   200               159  
    Total assets         $         70,066     $         67,292  
    Liabilities and Stockholders’ Equity      
    Current liabilities:      
    Accounts payable – trade         $         124     $         253  
    Accrued capital expenditures                   754               690  
    Current maturities of debt                   914               900  
    Other accrued liabilities                   761               1,020  
    Revenues and royalties payable                   1,575               1,491  
    Derivative instruments                   75               43  
    Income taxes payable                   550               414  
    Total current liabilities                   4,753               4,811  
    Long-term debt ($822 million and $1,083 million related to Viper)                   12,996               12,075  
    Derivative instruments                   93               106  
    Asset retirement obligations                   586               573  
    Deferred income taxes                   9,887               9,826  
    Other long-term liabilities                   8               39  
    Total liabilities                   28,323               27,430  
    Stockholders’ equity:      
    Common stock, $0.01 par value; 800,000,000 shares authorized; 287,287,926 and 290,984,373 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively                   3               3  
    Additional paid-in capital                   33,125               33,501  
    Retained earnings (accumulated deficit)                   5,352               4,238  
    Accumulated other comprehensive income (loss)                   (7 )             (6 )
    Total Diamondback Energy, Inc. stockholders’ equity                   38,473               37,736  
    Non-controlling interest                   3,270               2,126  
    Total equity                   41,743               39,862  
    Total liabilities and stockholders’ equity         $         70,066     $         67,292  
     
    Diamondback Energy, Inc.
    Condensed Consolidated Statements of Operations
    (unaudited, $ in millions except per share data, shares in thousands)
           
      Three Months Ended March 31,
        2025       2024  
    Revenues:      
    Oil, natural gas and natural gas liquid sales         $         3,657     $         2,101  
    Sales of purchased oil                   374               116  
    Other operating income                   17               10  
    Total revenues                   4,048               2,227  
    Costs and expenses:      
    Lease operating expenses                   408               255  
    Production and ad valorem taxes                   228               119  
    Gathering, processing and transportation                   111               77  
    Purchased oil expense                   382               117  
    Depreciation, depletion, amortization and accretion                   1,097               469  
    General and administrative expenses                   73               46  
    Merger and integration expense                   37               12  
    Other operating expenses                   39               14  
    Total costs and expenses                   2,375               1,109  
    Income (loss) from operations                   1,673               1,118  
    Other income (expense):      
    Interest expense, net                   (40 )             (39 )
    Other income (expense), net                   27               (3 )
    Gain (loss) on derivative instruments, net                   226               (48 )
    Gain (loss) on extinguishment of debt                   —               2  
    Income (loss) from equity investments, net                   8               2  
    Total other income (expense), net                   221               (86 )
    Income (loss) before income taxes                   1,894               1,032  
    Provision for (benefit from) income taxes                   403               223  
    Net income (loss)                    1,491               809  
    Net income (loss) attributable to non-controlling interest                   86               41  
    Net income (loss) attributable to Diamondback Energy, Inc.         $         1,405     $         768  
           
    Earnings (loss) per common share:      
    Basic         $         4.83     $         4.28  
    Diluted         $         4.83     $         4.28  
    Weighted average common shares outstanding:      
    Basic           289,612       178,477  
    Diluted           289,612       178,477  
     
    Diamondback Energy, Inc.
    Condensed Consolidated Statements of Cash Flows
    (unaudited, in millions)
           
      Three Months Ended March 31,
        2025       2024  
    Cash flows from operating activities:      
    Net income (loss)          $         1,491     $         809  
    Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
    Provision for (benefit from) deferred income taxes                   6               52  
    Depreciation, depletion, amortization and accretion                   1,097               469  
    (Gain) loss on extinguishment of debt                   —               (2 )
    (Gain) loss on derivative instruments, net                   (226 )             48  
    Cash received (paid) on settlement of derivative instruments                   85               (4 )
    (Income) loss from equity investment, net                   (8 )             (2 )
    Equity-based compensation expense                   18               14  
    Other                   24               16  
    Changes in operating assets and liabilities:              
    Accounts receivable                   (6 )             (95 )
    Income tax receivable                   3               12  
    Prepaid expenses and other current assets                   6               89  
    Accounts payable and accrued liabilities                   (374 )             (110 )
    Income taxes payable                   135               70  
    Revenues and royalties payable                   84               (35 )
    Other                   20               3  
    Net cash provided by (used in) operating activities                   2,355               1,334  
    Cash flows from investing activities:      
    Additions to oil and natural gas properties                   (942 )             (609 )
    Property acquisitions                   (750 )             (153 )
    Proceeds from sale of assets                   41               12  
    Other                   (2 )             (1 )
    Net cash provided by (used in) investing activities                   (1,653 )             (751 )
    Cash flows from financing activities:      
    Proceeds from borrowings under credit facilities                   2,277               90  
    Repayments under credit facilities                   (2,538 )             (80 )
    Proceeds from senior notes                   1,200               —  
    Repayment of senior notes                   —               (25 )
    Repurchased shares under buyback program                   (575 )             (42 )
    Proceeds from partial sale of investment in Viper Energy, Inc.                   —               451  
    Net proceeds from Viper’s issuance of common stock                   1,232               —  
    Dividends paid to stockholders                   (290 )             (548 )
    Dividends/distributions to non-controlling interest                   (95 )             (44 )
    Other                   (36 )             (71 )
    Net cash provided by (used in) financing activities                   1,175               (269 )
    Net increase (decrease) in cash and cash equivalents                   1,877               314  
    Cash, cash equivalents and restricted cash at beginning of period                   164               585  
    Cash, cash equivalents and restricted cash at end of period         $         2,041     $         899  
     
    Diamondback Energy, Inc.
    Selected Operating Data
    (unaudited)
               
      Three Months Ended
      March 31, 2025   December 31, 2024   March 31, 2024
    Production Data:          
    Oil (MBbls)                   42,835               43,785               24,874  
    Natural gas (MMcf)                   100,578               107,249               50,602  
    Natural gas liquids (MBbls)                   16,961               19,615               8,653  
    Combined volumes (MBOE)(1)                   76,559               81,275               41,961  
               
    Daily oil volumes (BO/d)                   475,944               475,924               273,341  
    Daily combined volumes (BOE/d)                   850,656               883,424               461,110  
               
    Average Prices:          
    Oil ($ per Bbl)         $         70.95     $         69.48     $         75.06  
    Natural gas ($ per Mcf)         $         2.11     $         0.48     $         0.99  
    Natural gas liquids ($ per Bbl)         $         23.94     $         19.27     $         21.26  
    Combined ($ per BOE)         $         47.77     $         42.71     $         50.07  
               
    Oil, hedged ($ per Bbl)(2)          $         70.06     $         68.72     $         74.13  
    Natural gas, hedged ($ per Mcf)(2)         $         3.34     $         0.82     $         1.36  
    Natural gas liquids, hedged ($ per Bbl)(2)         $         23.94     $         19.27     $         21.26  
    Average price, hedged ($ per BOE)(2)          $         48.89     $         42.76     $         49.97  
               
    Average Costs per BOE:          
    Lease operating expenses         $         5.33     $         5.67     $         6.08  
    Production and ad valorem taxes                   2.98               2.77               2.84  
    Gathering, processing and transportation expense                   1.45               1.17               1.84  
    General and administrative – cash component                   0.72               0.69               0.76  
    Total operating expense – cash         $         10.48     $         10.30     $         11.52  
               
    General and administrative – non-cash component         $         0.24     $         0.20     $         0.34  
    Depreciation, depletion, amortization and accretion         $         14.33     $         14.22     $         11.18  
    Interest expense, net         $         0.52     $         0.42     $         0.93  
    (1) Bbl equivalents are calculated using a conversion rate of six Mcf per one Bbl.
    (2) Hedged prices reflect the effect of our commodity derivative transactions on our average sales prices and include gains and losses on cash settlements for matured commodity derivatives, which we do not designate for hedge accounting. Hedged prices exclude gains or losses resulting from the early settlement of commodity derivative contracts.
       


    NON-GAAP FINANCIAL MEASURES

    ADJUSTED EBITDA

    Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. The Company defines Adjusted EBITDA as net income (loss) attributable to Diamondback Energy, Inc., plus net income (loss) attributable to non-controlling interest (“net income (loss)”) before non-cash (gain) loss on derivative instruments, net, interest expense, net, depreciation, depletion, amortization and accretion, depreciation and interest expense related to equity method investments, (gain) loss on extinguishment of debt, if any, non-cash equity-based compensation expense, capitalized equity-based compensation expense, merger and integration expenses, other non-cash transactions and provision for (benefit from) income taxes, if any. Adjusted EBITDA is not a measure of net income as determined by United States generally accepted accounting principles (“GAAP”). Management believes Adjusted EBITDA is useful because the measure allows it to more effectively evaluate the Company’s operating performance and compare the results of its operations from period to period without regard to its financing methods or capital structure. The Company adds the items listed above to net income (loss) to determine Adjusted EBITDA because these amounts can vary substantially from company to company within its industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Further, the Company excludes the effects of significant transactions that may affect earnings but are unpredictable in nature, timing and amount, although they may recur in different reporting periods. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of the Company’s operating performance or liquidity. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets. The Company’s computation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies or to such measure in our credit facility or any of our other contracts.

    The following tables present a reconciliation of the GAAP financial measure of net income (loss) attributable to Diamondback Energy, Inc. to the non-GAAP financial measure of Adjusted EBITDA:

    Diamondback Energy, Inc.
    Reconciliation of Net Income (Loss) to Adjusted EBITDA
    (unaudited, in millions)
               
      Three Months Ended
      March 31, 2025   December 31, 2024   March 31, 2024
    Net income (loss) attributable to Diamondback Energy, Inc.         $         1,405     $         1,074     $         768  
    Net income (loss) attributable to non-controlling interest                   86               216               41  
    Net income (loss)                   1,491               1,290               809  
    Non-cash (gain) loss on derivative instruments, net                   (141 )             (51 )             44  
    Interest expense, net                   40               34               39  
    Depreciation, depletion, amortization and accretion                   1,097               1,156               469  
    Depreciation and interest expense related to equity method investments                   21               30               23  
    (Gain) loss on extinguishment of debt                   —               —               (2 )
    Non-cash equity-based compensation expense                   23               24               21  
    Capitalized equity-based compensation expense                   (5 )             (8 )             (7 )
    Merger and integration expenses                   37               30               12  
    Other non-cash transactions                   (19 )             2               2  
    Provision for (benefit from) income taxes                   403               115               223  
    Consolidated Adjusted EBITDA                   2,947               2,622               1,633  
    Less: Adjustment for non-controlling interest                   146               118               86  
    Adjusted EBITDA attributable to Diamondback Energy, Inc.         $         2,801     $         2,504     $         1,547  
     


    ADJUSTED NET INCOME

    Adjusted net income is a non-GAAP financial measure equal to net income (loss) attributable to Diamondback Energy, Inc. plus net income (loss) attributable to non-controlling interest (“net income (loss)”) adjusted for non-cash (gain) loss on derivative instruments, net, (gain) loss on extinguishment of debt, if any, merger and integration expense, other non-cash transactions and related income tax adjustments, if any. The Company’s computation of adjusted net income may not be comparable to other similarly titled measures of other companies or to such measure in our credit facility or any of our other contracts. Management believes adjusted net income helps investors in the oil and natural gas industry to measure and compare the Company’s performance to other oil and natural gas companies by excluding from the calculation items that can vary significantly from company to company depending upon accounting methods, the book value of assets and other non-operational factors. Further, in order to allow investors to compare the Company’s performance across periods, the Company excludes the effects of significant transactions that may affect earnings but are unpredictable in nature, timing and amount, although they may recur in different reporting periods.

    The following table presents a reconciliation of the GAAP financial measure of net income (loss) attributable to Diamondback Energy, Inc. to the non-GAAP measure of adjusted net income:

    Diamondback Energy, Inc.
    Adjusted Net Income
    (unaudited, $ in millions except per share data, shares in thousands)
       
      Three Months Ended March 31, 2025
      Amounts   Amounts Per Diluted Share
    Net income (loss) attributable to Diamondback Energy, Inc.(1)         $         1,405     $         4.83  
    Net income (loss) attributable to non-controlling interest                   86               0.30  
    Net income (loss)(1)                    1,491               5.13  
    Non-cash (gain) loss on derivative instruments, net                   (141 )             (0.49 )
    Merger and integration expense                   37               0.13  
    Other non-cash transactions                   (19 )             (0.07 )
    Adjusted net income excluding above items(1)                   1,368               4.70  
    Income tax adjustment for above items                   26               0.09  
    Adjusted net income(1)                   1,394               4.79  
    Less: Adjusted net income attributable to non-controlling interest                   74               0.25  
    Adjusted net income attributable to Diamondback Energy, Inc.(1)         $         1,320     $         4.54  
           
    Weighted average common shares outstanding:      
    Basic                     289,612  
    Diluted                     289,612  
    (1) The Company’s earnings (loss) per diluted share amount has been computed using the two-class method in accordance with GAAP. The two-class method is an earnings allocation which reflects the respective ownership among holders of common stock and participating securities. Diluted earnings per share using the two-class method is calculated as (i) net income attributable to Diamondback Energy, Inc, (ii) less the reallocation of $6 million in earnings attributable to participating securities, (iii) divided by diluted weighted average common shares outstanding for the respective periods.
       


    OPERATING CASH FLOW BEFORE WORKING CAPITAL CHANGES AND FREE CASH FLOW

    Operating cash flow before working capital changes, which is a non-GAAP financial measure, represents net cash provided by operating activities as determined under GAAP without regard to changes in operating assets and liabilities. The Company believes operating cash flow before working capital changes is a useful measure of an oil and natural gas company’s ability to generate cash used to fund exploration, development and acquisition activities and service debt or pay dividends. The Company also uses this measure because changes in operating assets and liabilities relate to the timing of cash receipts and disbursements that the Company may not control and may not relate to the period in which the operating activities occurred. This allows the Company to compare its operating performance with that of other companies without regard to financing methods and capital structure.

    Free Cash Flow, which is a non-GAAP financial measure, is cash flow from operating activities before changes in working capital in excess of cash capital expenditures. The Company believes that Free Cash Flow is useful to investors as it provides measures to compare both cash flow from operating activities and additions to oil and natural gas properties across periods on a consistent basis as adjusted for non-recurring tax impacts from divestitures, merger and integration expenses, the early termination of derivative contracts and settlements of treasury locks. These measures should not be considered as an alternative to, or more meaningful than, net cash provided by operating activities as an indicator of operating performance. The Company’s computation of Free Cash Flow may not be comparable to other similarly titled measures of other companies. The Company uses Free Cash Flow to reduce debt, as well as return capital to stockholders as determined by the Board of Directors.

    The following tables present a reconciliation of the GAAP financial measure of net cash provided by operating activities to the non-GAAP measure of operating cash flow before working capital changes and to the non-GAAP measure of Free Cash Flow:

    Diamondback Energy, Inc.
    Operating Cash Flow Before Working Capital Changes and Free Cash Flow
    (unaudited, in millions)
     
      Three Months Ended
      March 31, 2025   December 31, 2024
    Net cash provided by operating activities         $         2,355     $         2,341  
    Less: Changes in cash due to changes in operating assets and liabilities:      
    Accounts receivable                   (6 )             (103 )
    Income tax receivable                   3               (3 )
    Prepaid expenses and other current assets                   6               (24 )
    Accounts payable and accrued liabilities                   (374 )             114  
    Income taxes payable                   135               138  
    Revenues and royalties payable                   84               59  
    Other                   20               (100 )
    Total working capital changes                   (132 )             81  
    Operating cash flow before working capital changes                   2,487               2,260  
    Additions to oil and natural gas properties                   (942 )             (933 )
    Total Cash CAPEX                   (942 )             (933 )
    Free Cash Flow                   1,545               1,327  
    Merger and integration expenses                   37               30  
    Treasury locks                   1               —  
    Adjusted Free Cash Flow         $         1,583     $         1,357  
     


    NET DEBT

    The Company defines the non-GAAP measure of net debt as total debt (excluding debt issuance costs, discounts, premiums and unamortized basis adjustments) less cash and cash equivalents. Net debt should not be considered an alternative to, or more meaningful than, total debt, the most directly comparable GAAP measure. Management uses net debt to determine the Company’s outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand. The Company believes this metric is useful to analysts and investors in determining the Company’s leverage position because the Company has the ability to, and may decide to, use a portion of its cash and cash equivalents to reduce debt.

    Diamondback Energy, Inc.
    Net Debt
    (unaudited, in millions)
                           
      March 31, 2025   Net Q1 Principal Borrowings/(Repayments)   December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024
      (in millions)
    Diamondback Energy, Inc.(1)         $         13,269     $         1,200     $         12,069     $         12,284     $         11,169     $         5,669  
    Viper Energy, Inc.(1)                   830               (261 )             1,091               830               1,007               1,103  
    Total debt                   14,099     $         939               13,160               13,114               12,176               6,772  
    Cash and cash equivalents                   (1,816 )                 (161 )             (370 )             (6,908 )             (896 )
    Net debt         $         12,283         $         12,999     $         12,744     $         5,268     $         5,876  
    (1) Excludes debt issuance costs, discounts, premiums and unamortized basis adjustments.
       


    DERIVATIVES

    As of May 2, 2025, the Company had the following outstanding consolidated derivative contracts, including derivative contracts at Viper Energy, Inc. The Company’s derivative contracts are based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on New York Mercantile Exchange West Texas Intermediate pricing and Crude Oil Brent pricing and with natural gas derivative settlements based on the New York Mercantile Exchange Henry Hub pricing. When aggregating multiple contracts, the weighted average contract price is disclosed.

      Crude Oil (Bbls/day, $/Bbl)
      Q2 2025   Q3 2025   Q4 2025   Q1 2026
    Long Puts – Crude Brent Oil   50,000       36,000       21,000       4,000  
    Long Put Price ($/Bbl)   $58.30       $56.39       $55.00       $55.00  
    Deferred Premium ($/Bbl)   $-1.50       $-1.50       $-1.47       $-1.45  
    Long Puts – WTI (Magellan East Houston)   96,000       102,000       65,000       15,000  
    Long Put Price ($/Bbl)   $55.10       $54.75       $54.62       $55.00  
    Deferred Premium ($/Bbl)   $-1.59       $-1.61       $-1.63       $-1.66  
    Long Puts – WTI (Cushing)   152,000       146,000       86,000       25,000  
    Long Put Price ($/Bbl)   $55.53       $54.40       $53.98       $55.00  
    Deferred Premium ($/Bbl)   $-1.59       $-1.55       $-1.55       $-1.32  
    Basis Swaps – WTI (Midland)   71,000       76,000       76,000       —  
      $1.05       $1.05       $1.05       —  
    Roll Swaps – WTI   25,000       25,000       25,000       —  
      $0.93       $0.93       $0.93       —  
      Natural Gas (Mmbtu/day, $/Mmbtu)
      Q2 2025   Q3 2025   Q4 2025   FY 2026 FY 2027
    Costless Collars – Henry Hub   690,000       690,000       690,000       620,000     40,000  
    Floor Price ($/Mmbtu)   $2.49       $2.49       $2.49       $2.77     $3.00  
    Ceiling Price ($/Mmbtu)   $5.28       $5.28       $5.28       $6.33     $6.65  
    Natural Gas Basis Swaps – Waha Hub   610,000       610,000       610,000       460,000     240,000  
      $-0.88       $-0.88       $-0.88       $-1.62     $-1.48  
    Natural Gas Basis Swaps – Houston Ship Channel   13,407       20,000       20,000       40,000     —  
      $-0.49       $-0.49       $-0.49       $-0.37     —  

    Investor Contact:
    Adam Lawlis
    +1 432.221.7467
    alawlis@diamondbackenergy.com

    The MIL Network –

  • MIL-OSI: Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., Reports First Quarter 2025 Financial and Operating Results

    Source: GlobeNewswire (MIL-OSI)

    MIDLAND, Texas, May 05, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc., (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced financial and operating results for the first quarter ended March 31, 2025.

    FIRST QUARTER HIGHLIGHTS

    • As previously announced, Q1 2025 average production of 31,311 bo/d (57,378 boe/d)
    • Q1 2025 consolidated net income (including non-controlling interest) of $153 million; net income attributable to Viper of $75 million, or $0.62 per Class A common share
    • Q1 2025 cash available for distribution to Viper’s Class A common shares (as defined and reconciled below) of $100 million, or $0.76 per Class A common share
    • Declared Q1 2025 base cash dividend of $0.30 per Class A common share; implies a 2.9% annualized yield based on the May 2, 2025, Class A common share closing price of $42.08
    • Declared Q1 2025 variable cash dividend of $0.27 per Class A common share; total base-plus-variable dividend of $0.57 per Class A common share implies a 5.4% annualized yield based on the May 2, 2025, Class A common share closing price of $42.08
    • Total Q1 2025 return of capital to Class A shareholders of $75 million, or $0.57 per Class A common share, represents 75% of cash available for distribution
    • 442 total gross (8.0 net 100% royalty interest) horizontal wells turned to production on Viper’s acreage during Q1 2025 with an average lateral length of 11,946 feet

    RECENT EVENTS AND FORWARD OUTLOOK

    • As previously announced, on May 1, 2025, closed the Drop Down transaction, whereby Viper Energy Partners LLC (“OpCo”), the Company’s operating subsidiary, acquired all of the equity interests of certain mineral and royalty subsidiaries of Diamondback for consideration of $1.0 billion of cash and 69.6 million limited liability company units of OpCo and an equivalent number of shares of the Company’s Class B common stock (the “Drop Down”)
    • Following the close of the Drop Down, Viper’s long-term issuer default rating was upgraded to BBB- by Fitch; represents second investment grade rating for Viper
    • As of May 2, 2025, during the second quarter of 2025, repurchased 239,374 shares of the Company’s Class A common stock for an aggregate purchase price of approximately $9 million, excluding excise tax (average price of $37.85 per Class A common share)
    • As of May 2, 2025, during the second quarter of 2025, repurchased approximately $36 million in aggregate principal amount of the Company’s 5.375% Senior Notes due 2027 (“2027 Notes”)
    • Initiating average daily production guidance for Q2 2025 of 40,000 to 43,000 bo/d (72,500 to 78,000 boe/d)
    • Maintaining average daily production for the balance of 2025, following the closing of the Drop Down, of 47,000 to 49,000 bo/d (85,000 to 88,000 boe/d), resulting in expected full year 2025 average daily production of 41,000 to 43,500 bo/d (74,500 to 79,000 boe/d)

    “As previously announced, we are excited the transformative Drop Down transaction between Viper and Diamondback has closed. As a result of the conservative financing of this transaction, as well as Viper’s continued strong financial and operating results, we expect leverage to remain below 1.0x even in a sustained $50 per barrel WTI environment. Given the strength of our balance sheet, we will look to use this period of volatility to our advantage where we can, as highlighted by the opportunistic share repurchases we have been able to make so far this quarter,” stated Kaes Van’t Hof, Chief Executive Officer of Viper.

    Mr. Van’t Hof continued, “Despite the potential for sustained weakness in commodity prices and reduced activity levels, we expect Viper’s production to remain durable and are maintaining our previous guidance for oil production for the balance of 2025, although we continue to monitor operator activity levels. The symbiotic relationship between Diamondback and Viper is highlighted during times like these where Diamondback continues to focus its development on wells where Viper owns high royalty interests, and therefore enhances Diamondback’s consolidated capital efficiency. Further, the roughly 45% of Viper’s current production that is operated by third parties is predominately exposed to well-capitalized operators in the best parts of the Permian Basin, led by Exxon operating almost half of our third party production.”

    FINANCIAL UPDATE

    As previously announced, Viper’s first quarter 2025 average unhedged realized prices were $71.33 per barrel of oil, $2.08 per Mcf of natural gas and $24.52 per barrel of natural gas liquids, resulting in a total equivalent realized price of $47.25/boe.

    As previously announced, Viper’s first quarter 2025 average hedged realized prices were $70.26 per barrel of oil, $3.74 per Mcf of natural gas and $24.52 per barrel of natural gas liquids, resulting in a total equivalent realized price of $48.99/boe.

    During the first quarter of 2025, the Company recorded total operating income of $245 million and consolidated net income (including non-controlling interest) of $153 million.

    As of March 31, 2025, the Company had a cash balance of $560 million and total long-term debt outstanding (excluding debt issuance costs, discounts and premiums) of $830 million, resulting in net debt (as defined and reconciled below) of $270 million. Viper’s outstanding long-term debt as of March 31, 2025 consisted of $430 million in aggregate principal amount of its 2027 Notes, $400 million in aggregate principal amount of its 7.375% Senior Notes due 2031 and no borrowings on its revolving credit facility, leaving $1.3 billion available for future borrowings and $1.9 billion of total liquidity.

    As of May 1, 2025, after giving effect to the closing of the Drop Down, Viper had roughly $255 million in borrowings on its revolving credit facility, leaving approximately $995 million available for future borrowings and a similar amount of total liquidity.

    As of May 2, 2025, during the second quarter of 2025, Viper had repurchased approximately $36 million in aggregate principal amount of the Company’s 2027 Notes.

    FIRST QUARTER 2025 CASH DIVIDEND & CAPITAL RETURN PROGRAM

    Viper announced today that the Company’s Board of Directors (the “Board”) declared a base cash dividend of $0.30 per Class A common share for the first quarter of 2025, payable on May 22, 2025 to Class A common shareholders of record at the close of business on May 15, 2025.

    The Board also declared a variable cash dividend of $0.27 per Class A common share for the first quarter of 2025, payable on May 22, 2025 to Class A common shareholders of record at the close of business on May 15, 2025.

    As of May 2, 2025, during the second quarter of 2025, Viper repurchased 239,374 shares of Class A common stock for an aggregate purchase price of approximately $9 million, excluding excise tax (average price of $37.85 per Class A common share). In total, since the initiation of Viper’s common stock repurchase program on November 9, 2020 through May 2, 2025, the Company has repurchased 13,683,957 shares of Class A common stock for an aggregate purchase price of approximately $325 million, reflecting an average price of $23.74 per Class A common share. Future base and variable cash dividends and stock repurchases are at the discretion of the Board and are subject to a number of factors discussed in Viper’s reports filed with the Securities and Exchange Commission.

    OPERATIONS UPDATE

    During the first quarter of 2025, Viper estimates that 442 gross (8.0 net 100% royalty interest) horizontal wells with an average royalty interest of 1.8% were turned to production on its acreage position with an average lateral length of 11,946 feet. Of these 442 gross wells, Diamondback is the operator of 108 gross wells, with an average royalty interest of 4.0%, and the remaining 334 gross wells, with an average royalty interest of 1.1%, are operated by third parties.

    As of March 31, 2025, Viper’s footprint of mineral and royalty interests was 37,573 net royalty acres on a historical basis and 60,725 net royalty acres on a pro forma basis, after giving effect to the Drop Down.

    Our gross well information as of May 1, 2025 is as follows, after giving effect to the Drop Down:

      Diamondback
    Operated    		   Third-Party
    Operated    		   Total
    Q1 2025 Horizontal wells turned to production(1)(2):          
    Gross wells 108   334   442  
    Net 100% royalty interest wells 4.3   3.7   8.0  
    Average percent net royalty interest 4.0%   1.1%   1.8%  
               
    Horizontal producing well count:          
    Gross wells 3,725   11,546   15,271  
    Net 100% royalty interest wells 235.0   165.0   400.0  
    Average percent net royalty interest 6.3%   1.4%   2.6%  
               
    Horizontal active development well count:          
    Gross wells 239   682   921  
    Net 100% royalty interest wells 13.0   10.4   23.4  
    Average percent net royalty interest 5.4%   1.5%   2.5%  
               
    Line of sight wells:          
    Gross wells 417   677   1,094  
    Net 100% royalty interest wells 27.1   8.9   36.0  
    Average percent net royalty interest 6.5%   1.3%   3.3%  

    (1) Represents wells turned to production on Viper’s standalone acreage position; does not give effect to the Drop Down.
    (2) Average lateral length of 11,946 feet.

    The 921 gross wells currently in the process of active development are those wells that have been spud and are expected to be turned to production within approximately the next six to eight months. Further in regard to the active development on Viper’s asset base, after giving effect to the Drop Down, there are currently 63 gross rigs operating on Viper’s acreage, 16 of which are operated by Diamondback. The 1,094 line-of-sight wells are those that are not currently in the process of active development, but for which Viper has reason to believe that they will be turned to production within approximately the next 15 to 18 months. The expected timing of these line-of-sight wells is based primarily on permitting by third-party operators or Diamondback’s current expected completion schedule. Existing permits or active development of Viper’s royalty acreage does not ensure that those wells will be turned to production.

    GUIDANCE UPDATE

    Below is Viper’s guidance for the full year 2025, as well as average production guidance for Q2 2025, which gives effect to the Drop Down. Given recent market volatility, Diamondback and our other operators are closely monitoring the macro environment and may review their operating plans for the remainder of 2025, and thus our production guidance could be subject to change.

       
      Viper Energy, Inc.
       
    Q2 2025 Net Production – Mbo/d 40.0 – 43.0
    Q2 2025 Net Production – Mboe/d 72.5 – 78.0
    Full Year 2025 Net Production – Mbo/d 41.0 – 43.5
    Full Year 2025 Net Production – Mboe/d 74.5 – 79.0
       
    Unit costs ($/boe)  
    Depletion $15.50 – $16.50
    Cash G&A $0.80 – $1.00
    Non-Cash Share-Based Compensation $0.10 – $0.20
    Net Interest Expense $2.00 – $2.50
       
    Production and Ad Valorem Taxes (% of Revenue) ~7%
    Cash Tax Rate (% of Pre-Tax Income Attributable to the Company)(1) 21% – 23%
    Q2 2025 Cash Taxes ($ – million)(2) $10 – $15

    (1) Pre-tax income attributable to the Company is reconciled below.
    (2) Attributable to the Company.


    CONFERENCE CALL

    Viper will host a conference call and webcast for investors and analysts to discuss its results for the first quarter of 2025 on Tuesday, May 6, 2025 at 10:00 a.m. CT. Access to the live audio-only webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Viper’s website at www.viperenergy.com under the “Investor Relations” section of the site.

    About Viper Energy, Inc.

    Viper is a corporation formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily the Permian Basin in West Texas. For more information, please visit www.viperenergy.com.

    About Diamondback Energy, Inc.

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper’s: future performance; business strategy; future operations; estimates and projections of operating income, losses, costs and expenses, returns, cash flow, and financial position; production levels on properties in which Viper has mineral and royalty interests, developmental activity by other operators; reserve estimates and Viper’s ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the Drop Down and any other acquisitions or divestitures); and plans and objectives (including Diamondback’s plans for developing Viper’s acreage and Viper’s cash dividend policy and common stock repurchase program) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Viper are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Viper believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond its control. Accordingly, forward-looking statements are not guarantees of Viper’s future performance and the actual outcomes could differ materially from what Viper expressed in its forward-looking statements.

    Factors that could cause the outcomes to differ materially include (but are not limited to) the following: changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; the impact of public health crises, including epidemic or pandemic diseases, and any related company or government policies or actions; changes in U.S. energy, environmental, monetary and trade policies, including with respect to tariffs or other trade barriers, and any resulting trade tensions; actions taken by the members of OPEC and Russia affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments, including any impact of the ongoing war in Ukraine and the Israel-Hamas war on the global energy markets and geopolitical stability; instability in the financial sector; higher interest rates and their impact on the cost of capital; regional supply and demand factors, including delays, curtailment delays or interruptions of production on Viper’s mineral and royalty acreage, or governmental orders, rules or regulations that impose production limits on such acreage; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change and the risks and other factors disclosed in Viper’s filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the Securities and Exchange Commission’s web site at http://www.sec.gov.

    In light of these factors, the events anticipated by Viper’s forward-looking statements may not occur at the time anticipated or at all. Moreover, new risks emerge from time to time. Viper cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements made in this news release. All forward-looking statements speak only as of the date of this news release or, if earlier, as of the date they were made. Viper does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.

    Viper Energy, Inc.
    Condensed Consolidated Balance Sheets
    (unaudited, in millions, except par values and share data)
           
      March 31,   December 31,
        2025       2024  
    Assets      
    Current assets:      
    Cash and cash equivalents $ 560     $ 27  
    Royalty income receivable (net of allowance for credit losses)   146       149  
    Royalty income receivable—related party   41       31  
    Income tax receivable   2       2  
    Derivative instruments   31       18  
    Prepaid expenses and other current assets   12       11  
         Total current assets   792       238  
    Property:      
    Oil and natural gas interests, full cost method of accounting ($2,279 and $2,180 excluded from depletion at March 31, 2025 and December 31, 2024, respectively)   6,097       5,713  
    Land   6       6  
    Accumulated depletion and impairment   (1,148 )     (1,081 )
         Property, net   4,955       4,638  
    Derivative instruments   12       —  
    Deferred income taxes (net of allowances)   249       185  
    Funds held in escrow   223       1  
    Other assets   7       7  
         Total assets $ 6,238     $ 5,069  
    Liabilities and Stockholders’ Equity      
    Current liabilities:      
    Accounts payable—related party $ 2     $ 2  
    Accrued liabilities   66       43  
    Derivative instruments   5       2  
    Income taxes payable   18       2  
         Total current liabilities   91       49  
    Long-term debt, net   822       1,083  
    Derivative instruments   2       —  
    Other long-term liabilities   —       30  
         Total liabilities   915       1,162  
    Stockholders’ equity:      
    Class A Common Stock, $0.000001 par value: 1,000,000,000 shares authorized; 131,323,078 shares issued and outstanding as of March 31, 2025 and 102,977,142 shares issued and outstanding as of December 31, 2024   —       —  
    Class B Common Stock, $0.000001 par value: 1,000,000,000 shares authorized; 87,831,750 shares issued and outstanding as of March 31, 2025 and 85,431,453 shares issued and outstanding as of December 31, 2024   —       —  
    Additional paid-in capital   2,566       1,569  
    Retained earnings (accumulated deficit)   108       118  
         Total Viper Energy, Inc. stockholders’ equity   2,674       1,687  
    Non-controlling interest   2,649       2,220  
    Total equity   5,323       3,907  
         Total liabilities and stockholders’ equity $ 6,238     $ 5,069  
    Viper Energy, Inc.
    Condensed Consolidated Statements of Operations
    (unaudited, in millions, except per share amounts, shares in thousands)
           
      Three Months Ended March 31,
        2025       2024  
    Operating income:      
    Oil income $ 201     $ 177  
    Natural gas income   15       7  
    Natural gas liquids income   28       21  
         Royalty income   244       205  
    Lease bonus income   1       —  
         Total operating income   245       205  
    Costs and expenses:      
    Production and ad valorem taxes   17       14  
    Depletion   67       47  
    General and administrative expenses—related party   4       2  
    General and administrative expenses   2       3  
         Total costs and expenses   90       66  
    Income (loss) from operations   155       139  
    Other income (expense):      
    Interest expense, net   (13 )     (20 )
    Gain (loss) on derivative instruments, net   32       (7 )
         Total other income (expense), net   19       (27 )
    Income (loss) before income taxes   174       112  
    Provision for (benefit from) income taxes   21       13  
    Net income (loss)   153       99  
    Net income (loss) attributable to non-controlling interest   78       56  
    Net income (loss) attributable to Viper Energy, Inc. $ 75     $ 43  
           
    Net income (loss) attributable to common shares:      
    Basic $ 0.62     $ 0.49  
    Diluted $ 0.62     $ 0.49  
    Weighted average number of common shares outstanding:      
    Basic   120,926       87,537  
    Diluted   121,030       87,629  
    Viper Energy, Inc.
    Condensed Consolidated Statements of Cash Flows
    (unaudited, in millions)
           
      Three Months Ended March 31,
        2025       2024  
    Cash flows from operating activities:      
    Net income (loss) $ 153     $ 99  
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
         Provision for (benefit from) deferred income taxes   (1 )     (1 )
         Depletion   67       47  
         (Gain) loss on derivative instruments, net   (32 )     7  
         Net cash receipts (payments) on derivatives   9       (3 )
         Other   1       2  
    Changes in operating assets and liabilities:      
         Royalty income receivable   3       (23 )
         Royalty income receivable—related party   (10 )     (30 )
         Accounts payable and accrued liabilities   (4 )     5  
         Accounts payable—related party   —       (1 )
         Income taxes payable   15       12  
         Other   —       1  
              Net cash provided by (used in) operating activities   201       115  
    Cash flows from investing activities:      
    Acquisitions of oil and natural gas interests   (486 )     (21 )
    Proceeds from sale of oil and natural gas interests   —       1  
              Net cash provided by (used in) investing activities   (486 )     (20 )
    Cash flows from financing activities:      
    Proceeds from borrowings under credit facility   295       90  
    Repayment on credit facility   (556 )     (80 )
    Net proceeds from public offering   1,232       —  
    Dividends to stockholders   (85 )     (44 )
    Dividends to Diamondback   (59 )     (67 )
    Dividends to other non-controlling interest   (9 )     —  
              Net cash provided by (used in) financing activities   818       (101 )
    Net increase (decrease) in cash and cash equivalents   533       (6 )
    Cash, cash equivalents and restricted cash at beginning of period   27       26  
    Cash, cash equivalents and restricted cash at end of period $ 560     $ 20  
    Viper Energy, Inc.
    Selected Operating Data
    (unaudited)
               
      Three Months Ended
      March 31, 2025   December 31, 2024   March 31, 2024
    Production Data:          
    Oil (MBbls)   2,818     2,747     2,312
    Natural gas (MMcf)   7,221     7,236     5,589
    Natural gas liquids (MBbls)   1,142     1,209     954
    Combined volumes (Mboe)(1)   5,164     5,162     4,198
               
    Average daily oil volumes (bo/d)   31,311     29,859     25,407
    Average daily combined volumes (boe/d)   57,378     56,109     46,132
               
    Average sales prices:          
    Oil ($/Bbl) $ 71.33   $ 69.91   $ 76.61
    Natural gas ($/Mcf) $ 2.08   $ 0.84   $ 1.22
    Natural gas liquids ($/Bbl) $ 24.52   $ 22.15   $ 22.17
    Combined ($/boe)(2) $ 47.25   $ 43.56   $ 48.85
               
    Oil, hedged ($/Bbl)(3) $ 70.26   $ 69.00   $ 75.64
    Natural gas, hedged ($/Mcf)(3) $ 3.74   $ 1.05   $ 1.12
    Natural gas liquids ($/Bbl)(3) $ 24.52   $ 22.15   $ 22.17
    Combined price, hedged ($/boe)(3) $ 48.99   $ 43.38   $ 48.19
               
    Average Costs ($/boe):          
    Production and ad valorem taxes $ 3.29   $ 3.13   $ 3.43
    General and administrative – cash component   0.97     0.72     1.08
    Total operating expense – cash $ 4.26   $ 3.85   $ 4.51
               
    General and administrative – non-cash stock compensation expense $ 0.19   $ 0.16   $ 0.12
    Interest expense, net $ 2.52   $ 3.70   $ 4.67
    Depletion $ 12.97   $ 12.51   $ 11.18

    (1) Bbl equivalents are calculated using a conversion rate of six Mcf per one Bbl.
    (2) Realized price net of all deducts for gathering, transportation and processing.
    (3) Hedged prices reflect the impact of cash settlements of our matured commodity derivative transactions on our average sales prices.

    NON-GAAP FINANCIAL MEASURES

    Adjusted EBITDA is a supplemental non-GAAP (as defined below) financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. Viper defines Adjusted EBITDA as net income (loss) attributable to the Company, plus net income (loss) attributable to non-controlling interest (“net income (loss)”) before interest expense, net, non-cash share-based compensation expense, depletion, non-cash (gain) loss on derivative instruments, (gain) loss on extinguishment of debt, if any, other non-cash operating expenses, if any, other non-recurring expenses, if any, and provision for (benefit from) income taxes. Adjusted EBITDA is not a measure of net income as determined by United States’ generally accepted accounting principles (“GAAP”). Management believes Adjusted EBITDA is useful because it allows them to more effectively evaluate Viper’s operating performance and compare the results of its operations from period to period without regard to its financing methods or capital structure. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income, royalty income, cash flow from operating activities or any other measure of financial performance or liquidity presented as determined in accordance with GAAP. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDA.

    Viper defines cash available for distribution to the Company’s shareholders generally as an amount equal to its Adjusted EBITDA for the applicable quarter less cash needed for income taxes payable for the current period, debt service, contractual obligations, fixed charges and reserves for future operating or capital needs that the Board may deem appropriate, lease bonus income, net of tax, distribution equivalent rights payments, preferred dividends, and an adjustment for changes in ownership interests that occurred subsequent to the quarter, if any. Management believes cash available for distribution is useful because it allows them to more effectively evaluate Viper’s operating performance excluding the impact of non-cash financial items and short-term changes in working capital. Viper’s computations of Adjusted EBITDA and cash available for distribution may not be comparable to other similarly titled measures of other companies or to such measure in its credit facility or any of its other contracts. Viper further defines cash available for variable dividends as at least 75 percent of cash available for distribution less base dividends declared and repurchased shares as part of its share buyback program for the applicable quarter.

    The following tables present a reconciliation of the GAAP financial measure of net income (loss) to the non-GAAP financial measures of Adjusted EBITDA, cash available for distribution and cash available for variable dividends:

    Viper Energy, Inc.
    (unaudited, in millions, except per share data)
       
      Three Months Ended
    March 31, 2025
    Net income (loss) attributable to Viper Energy, Inc. $ 75  
    Net income (loss) attributable to non-controlling interest   78  
    Net income (loss)   153  
    Interest expense, net   13  
    Non-cash share-based compensation expense   1  
    Depletion   67  
    Non-cash (gain) loss on derivative instruments   (23 )
    Provision for (benefit from) income taxes   21  
    Consolidated Adjusted EBITDA   232  
    Less: Adjusted EBITDA attributable to non-controlling interest   99  
    Adjusted EBITDA attributable to Viper Energy, Inc. $ 133  
       
    Adjustments to reconcile Adjusted EBITDA to cash available for distribution:  
    Income taxes payable for the current period $ (23 )
    Debt service, contractual obligations, fixed charges and reserves   (9 )
    Lease bonus income, net of tax   (1 )
    Cash available for distribution to Viper Energy, Inc. shareholders $ 100  
      Three Months Ended March 31, 2025
      Amounts   Amounts Per
    Common Share
    Reconciliation to cash available for variable dividends:      
    Cash available for distribution to Viper Energy, Inc. shareholders $ 100   $ 0.76
           
    Return of Capital $ 75   $ 0.57
    Less:      
    Base dividend   39     0.30
    Cash available for variable dividends $ 36   $ 0.27
           
    Total approved base and variable dividend per share     $ 0.57
           
    Class A common stock outstanding       131,323

    The following table presents a reconciliation of the GAAP financial measure of income (loss) before income taxes to the non-GAAP financial measure of pre-tax income attributable to the Company. Management believes this measure is useful to investors given it provides the basis for income taxes payable by Viper, which is an adjustment to reconcile Adjusted EBITDA to cash available for distribution to holders of the Company’s Class A common stock.

    Viper Energy, Inc.
    Pre-tax income attributable to Viper Energy, Inc.
    (unaudited, in millions)
       
      Three Months Ended
    March 31, 2025
     
    Income (loss) before income taxes $ 174  
    Less: Net income (loss) attributable to non-controlling interest   78  
    Pre-tax income attributable to Viper Energy, Inc. $ 96  
       
    Income taxes payable for the current period $ 23  
    Effective cash tax rate attributable to Viper Energy, Inc.   24.0 %

    Adjusted net income (loss) is a non-GAAP financial measure equal to net income (loss) attributable to the Company plus net income (loss) attributable to non-controlling interest adjusted for non-cash (gain) loss on derivative instruments, net, (gain) loss on extinguishment of debt, if any, other non-cash operating expenses, if any, other non-recurring expenses, if any, and related income tax adjustments. The Company’s computation of adjusted net income may not be comparable to other similarly titled measures of other companies or to such measure in our credit facility or any of our other contracts. Management believes adjusted net income helps investors in the oil and natural gas industry to measure and compare the Company’s performance to other oil and natural gas companies by excluding from the calculation items that can vary significantly from company to company depending upon accounting methods, the book value of assets and other non-operational factors.

    The following table presents a reconciliation of the GAAP financial measure of net income (loss) attributable to the Company to the non-GAAP financial measure of adjusted net income (loss):

    Viper Energy, Inc.
    Adjusted Net Income (Loss)
    (unaudited, in millions, except per share data)
       
      Three Months Ended March 31, 2025
      Amounts   Amounts Per
    Diluted Share
    Net income (loss) attributable to Viper Energy, Inc. (1) $ 75     $ 0.62  
    Net income (loss) attributable to non-controlling interest   78       0.64  
    Net income (loss)(1)   153       1.26  
    Non-cash (gain) loss on derivative instruments, net   (23 )     (0.19 )
    Adjusted income excluding above items(1)   130       1.07  
    Income tax adjustment for above items   3       0.03  
    Adjusted net income (loss)(1)   133       1.10  
    Less: Adjusted net income (loss) attributed to non-controlling interests   68       0.56  
    Adjusted net income (loss) attributable to Viper Energy, Inc. (1) $ 65     $ 0.54  
           
    Weighted average Class A common shares outstanding:      
    Basic   120,926  
    Diluted   121,030  

    (1) The Company’s earnings (loss) per diluted share amount has been computed using the two-class method in accordance with GAAP. The two-class method is an earnings allocation which reflects the respective ownership among holders of Class A common shares and participating securities. Diluted earnings per share using the two-class method is calculated as (i) net income attributable to the Company, (ii) less any reallocation of earnings attributable to participating securities, and (iii) divided by diluted weighted average Class A common shares outstanding.


    RECONCILIATION OF LONG-TERM DEBT TO NET DEBT

    The Company defines the non-GAAP measure of net debt as debt (excluding debt issuance costs, discounts and premiums) less cash and cash equivalents. Net debt should not be considered an alternative to, or more meaningful than, total debt, the most directly comparable GAAP measure. Management uses net debt to determine the Company’s outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand. The Company believes this metric is useful to analysts and investors in determining the Company’s leverage position because the Company has the ability to, and may decide to, use a portion of its cash and cash equivalents to reduce debt.

      March 31, 2025   Net Q1
    Principal
    Borrowings/
    (Repayments)    		   December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024
      (in millions)
    Total long-term debt(1) $ 830     $ (261 )   $ 1,091     $ 831     $ 1,007     $ 1,103  
    Cash and cash equivalents   (560 )         (27 )     (169 )     (35 )     (20 )
    Net debt $ 270         $ 1,064     $ 662     $ 972     $ 1,083  

    (1) Excludes debt issuance costs, discounts & premiums.


    Derivatives

    As of the filing date, the Company had the following outstanding derivative contracts. The Company’s derivative contracts are based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on New York Mercantile Exchange West Texas Intermediate pricing and Crude Oil Brent. When aggregating multiple contracts, the weighted average contract price is disclosed.

      Crude Oil (Bbls/day, $/Bbl)
      Q2 2025   Q3 2025   Q4 2025   FY 2026   FY 2027
    Deferred Premium Puts – WTI (Cushing)   20,000       18,000       —     —     —
    Strike $ 55.00     $ 55.00     $ —   $ —   $ —
    Premium $ (1.61 )   $ (1.60 )   $ —   $ —   $ —
      Natural Gas (Mmbtu/day, $/Mmbtu)
      Q2 2025   Q3 2025   Q4 2025   FY 2026   FY 2027
    Costless Collars – Henry Hub   60,000     60,000     60,000     60,000     —
    Floor $ 2.50   $ 2.50   $ 2.50   $ 2.75   $ —
    Ceiling $ 4.93   $ 4.93   $ 4.93   $ 6.64   $ —
      Natural Gas (Mmbtu/day, $/Mmbtu)
      Q2 2025   Q3 2025   Q4 2025   FY 2026   FY 2027
    Natural Gas Basis Swaps – Waha Hub   60,000       60,000       60,000       60,000       40,000  
    Swap Price $ (0.80 )   $ (0.80 )   $ (0.80 )   $ (1.50 )   $ (1.40 )

    Investor Contact:

    Chip Seale
    +1 432.247.6218
    cseale@viperenergy.com

    Source: Viper Energy, Inc.; Diamondback Energy, Inc.

    The MIL Network –

  • MIL-OSI Security: Baltimore Man Charged in Second Superseding Indictment for Robbery, Kidnapping, and Shooting Death in Queens

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    Defendant Jalon Lenny Garrett is One of Six Defendants Arrested in Connection with the July 25, 2024 Crime Spree

    Earlier today, a seven-count second superseding indictment was unsealed in federal court in Brooklyn charging Jalon Lenny Garrett, also known as “Lips,” Marcus Pittman, also known as “Nacho” and “Cheese,” Delonta Pittman, also known as “D Lo,” and Jerome Waters, also known as “the Engineer” and “Rome,” for their alleged roles in the kidnapping, robbery, and shooting of marijuana dealers on July 25, 2024.  Garrett was arrested this morning in Baltimore, Maryland, and will make his initial appearance in the Eastern District of New York at a later date.  Marcus Pittman is also newly charged with being a felon in possession of ammunition for his role in the fatal shooting.  The remaining defendants are already in custody and will be arraigned at a later date.

    John J. Durham, United States Attorney for the Eastern District of New York; Christopher G. Raia, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI); and Jessica S. Tisch, Commissioner, New York City Police Department (NYPD) announced the arrests and charges.

    “As alleged, the defendants took part in an interstate armed robbery and kidnapping scheme that resulted in the brutal murder of a targeted victim.  This prosecution underscores the ongoing threat of guns and drugs in our communities,” stated United States Attorney Durham.  “This Office is committed to holding violent offenders accountable and ensuring justice for every victim.”

    “These four defendants allegedly traveled across the northeast to brutally kidnap and rob two unsuspecting individuals, ultimately murdering one of the victims,” stated FBI Assistant Director-in-Charge Raia.  “This alleged fatal robbery highlights the volatile and random violence that the illicit drug trade can fuel. With our law enforcement partners, the FBI will continue to dismantle any organization implementing lethal tactics to bolster their criminal lifestyles and jeopardize the safety of our city.”

    “These individuals came to New York City armed with guns and zip ties — ready to rob, kidnap, and kill,” stated NYPD Commissioner Tisch.  “It was a deliberate, brutal attack meant to terrorize our communities.  They thought they could hit and run. They were wrong — and anyone else thinking the same should take note.  I’m grateful to our partners in Project Safe Neighborhoods for their shared commitment to protecting New Yorkers.”

    According to the superseding indictment and other public court filings, the defendants are members of a Baltimore-based robbery crew that conspired to commit an armed robbery and kidnapping of marijuana dealers in Queens, New York.  On the evening of July 24,2024, the defendants and their co-conspirators executed a violent armed robbery and kidnapping plot that resulted in John Doe #1’s death.  As described below, Garrett robbed and kidnapped John Doe #2 at gunpoint, and Marcus Pittman shot and killed John Doe #1.

    Specifically, the defendants drove from Maryland to New York for the purpose of robbing two drug dealers, John Doe #1 and John Doe #2. Once in New York, defendants Jerome Waters and William Barnett met with John Doe #1 and John Doe #2 at a stash house in Queens, New York, under the guise of purchasing marijuana.

    At the stash house, Waters and Barnett pulled out their weapons and held up John Doe #1 and John Doe #2 at gunpoint. Next, they let their co-defendants into the stash house to assist in the robbery and kidnapping.  While in the stash house, the defendants and their co-conspirators tied up John Doe #1 and John Doe #2 with zip ties and forced them outside and into the back of a Jeep and a U-Haul van, which were driven by Barnett and Israel.  At the same time, the defendants and their co-conspirators stole approximately 30 pounds of marijuana from the stash house.

    The defendants and their co-conspirators drove John Doe #1 and John Doe #2, who were still tied up, through Queens at gunpoint, demanding drugs and money.  Garrett held a gun to John Doe #2 as he was being driven through Queens.  Marcus Pittman shot John Doe #1 to death in the back of the U-Haul van.  When his body was found by first responders, John Doe #1 still had a zip tie binding one of his hands and was surrounded by bags of marijuana.  After the shooting, the defendants fled back to Maryland.

    If convicted, defendants Marcus Pittman, Delonta Pittman, and Waters each face mandatory minimum sentences of life imprisonment, and Garrett faces a mandatory minimum of ten years’ imprisonment and a maximum sentence of life imprisonment.  The charges in the superseding indictment are allegations and the defendants are presumed innocent unless and until proven guilty.

    This case was brought as part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and make our neighborhoods safer for everyone.  As part of the program, U.S. Attorneys’ Offices work in partnership with federal, state, local and tribal law enforcement and their local communities to develop effective, locally based strategies to reduce violent crime. 

    The government’s case is being handled by the Office’s International Narcotics and Money Laundering Section.  Assistant United States  Attorneys Chand Edwards-Balfour and Adam Amir are in charge of the prosecution, with the assistance of Paralegal Specialist Samuel Ronchetti.

    New Defendant:

    JALON LENNY GARRETT
    Age: 20
    Maryland

    Previously Charged Defendants:

    MARCUS PITTMAN (also known as “Nacho” and “Cheese”)
    Age:  30
    Maryland

    DELONTA PITTMAN (also known as “D Lo”)
    Age:  31
    Maryland

    JEROME WATERS (also known as “the Engineer” and “Rome”)
    Age:  23
    Maryland

    CALVIN ISRAEL
    Age:  23
    Maryland

    WILLIAM BARNETT
    Age:  27
    Maryland

    E.D.N.Y. Docket No. 24-CR-413 (S-2) (KAM)

    MIL Security OSI –

  • MIL-OSI Security: Nuclear Desalination: A Sustainable Solution for Water Security in the Arab Region

    Source: International Atomic Energy Agency – IAEA

    Jordan: Advancing SMR-Powered Desalination

    Jordan, where 75 per cent of the land is classified as arid desert, is taking significant steps toward nuclear desalination. The government is exploring Small Modular Reactors (SMRs), compact reactors that could power desalination plants. In 2023, an IAEA team evaluated Jordan’s studies on using SMRs to provide drinking water from the Red Sea to Amman, where water demand is rising.

    “Desalination is considered the primary source of fresh water in Jordan to fulfil the expected demand and reduce the supply-demand deficit,” says Khalid Khasawneh, Commissioner for Nuclear Power Reactors at the Jordan Atomic Energy Commission (JAEC). “It offers competitive prices for fresh water to end consumers, in comparison with imported energy sources.”

    Saudi Arabia: The Desalination Leader Exploring Nuclear

    Saudi Arabia, already the world’s largest desalinated water producer, began exploring the use of nuclear energy for desalination in the late 1970s. As part of its strategy to move from an oil-based economy toward a diversified power production, the country is now considering nuclear plants to achieve its net zero ambitions and meet its long-term water needs.

    According to the King Abdullah City for Atomic and Renewable Energy (KACARE), “the Kingdom is planning a sustainable energy mix that includes atomic energy to meet the energy needs of the Kingdom to produce electricity, desalinated water and thermal energy,” which aims to reduce reliance on hydrocarbons and support economic growth.

    Egypt: Nuclear Power and Water Strategy

    Egypt is also integrating nuclear technology into its water strategy. With the country’s first nuclear power plant, El-Dabaa, under construction, discussions are underway about pairing nuclear energy with desalination in coastal regions. According to the Egyptian State Information Service: “Nuclear energy contributes to enhancing energy security and achieving environmental balance and water security.” As “nuclear facilities can supply the energy required for desalination plants to produce potable water.”

    Kuwait: Exploring Nuclear Desalination for Sustainable Water Solutions

    Kuwait, which depends heavily on seawater desalination to meet its freshwater needs, is increasingly turning to nuclear technologies to find more sustainable solutions for water and the environment. “Kuwait is facing the effect of climate change, ocean acidification, pollution from the oil and shipping industry, power and desalination activities,” said Nader Al-Awadi, the Executive Commissioner for International Cooperation at the Kuwait Institute of Scientific Research (KISR). In line with its efforts to address these environmental challenges, Kuwait has also established a large-scale facility to carry out research on ocean acidification, aiming to further understand the impacts of changing ocean conditions on marine ecosystems, which are directly tied to the effectiveness of desalination technologies.

    MIL Security OSI –

  • MIL-OSI Economics: Unlock what’s next: Microsoft at May 19-22 Red Hat Summit 2025

    Source: Microsoft

    Headline: Unlock what’s next: Microsoft at May 19-22 Red Hat Summit 2025

    Learn more about the solutions that Microsoft and Red Hat have to offer that drive technological advancements and empower organizations.

    As the tech world eagerly anticipates Red Hat Summit 2025, Microsoft is proud to announce its role as a platinum sponsor at the event. Red Hat Summit is a premier enterprise open source event for IT professionals to learn, collaborate, and innovate on technologies from the datacenter and public cloud to edge and beyond. This year, Microsoft’s collaboration with Red Hat promises to be a highlight, showcasing the power of partnership and the innovative solutions that arise from it. 

    Over the years, this partnership has achieved significant milestones, transforming the way businesses operate and deliver value to their customers. By combining Microsoft’s cloud expertise with Red Hat’s open-source leadership, we have created a synergy that drives technological advancements and empowers organizations to achieve more. 

    One of the key benefits of this partnership is the seamless integration of Red Hat technologies with Microsoft Azure. This integration provides customers with a robust and flexible platform to build, deploy, and manage their applications. Whether it’s modernizing legacy systems or developing new cloud-native applications, the combination of Azure and Red Hat offers a plethora of capabilities and support. For instance, Red Hat OpenShift on Azure enables organizations to run containerized applications with ease, leveraging the scalability and security of Azure. Additionally, Red Hat Enterprise Linux on Azure provides a reliable and secure operating system for mission-critical workloads.

    Build your next great app with free Azure services today >

    At Red Hat Summit 2025, attendees will have the opportunity to explore these technologies in depth. Microsoft and Red Hat will showcase new features and integrations that enhance the capabilities of Azure and Red Hat solutions. From improved performance to enhanced security, these advancements are designed to meet the evolving needs of businesses in today’s digital landscape. 

    • RHEL for WSL: Red Hat Enterprise Linux (RHEL) is now available for use with Windows Subsystem for Linux (WSL). WSL is a feature of Microsoft Windows that allows developers to run Linux distributions. With RHEL for WSL, developers can run a RHEL development environment on Windows without having to spin up a traditional virtual machine (VM). With a no-cost Red Hat Developer subscription, developers can download the latest release of RHEL as a WSL image during their install and easily run both Windows and RHEL at the same time on their Windows machine.
    • Azure Red Hat OpenShift: Microsoft and Red Hat are enhancing security with Confidential Containers on Azure Red Hat OpenShift, now in public preview. This feature offers hardware-level protection for workloads via memory encryption and secure execution environments, addressing compliance needs in sectors like healthcare and financial services. Managed identity for Azure Red Hat OpenShift is also in public preview, transitioning organizations from static service principals to dynamic, token-based credentials. This reduces operational complexity and security risks, facilitating container platform adoption in regulated environments. Azure Red Hat OpenShift has expanded to the Spain Central region with plans for the United Arab Emirates (UAE) Central and Microsoft Azure Government (MAG) regions by Q2 2025. Enhancements include OpenShift 4.16 support, enterprise-grade cluster-wide proxy, and Ddsv5 instance performance optimization. Additionally, OpenShift Virtualization on Azure Red Hat OpenShift is entering public preview, enabling customers to accelerate VM migration to Azure without refactoring while unifying management of VMs and containers on a single platform. 
    • RHEL landing zone: The Red Hat Enterprise Linux (RHEL) on Azure Landing Zone guide provides everything needed to deploy, manage, and scale RHEL instances using Azure-specific system images. Software lifecycle automation is simplified with Red Hat Satellite and Red Hat Satellite Capsule, ensuring timely updates and patches. Business Continuity and Disaster Recovery (BCDR) are enhanced through Azure’s on-demand capacity reservations, guaranteeing reliable availability in Azure regions. Optimized identity management infrastructure deployment minimizes latencies and eliminates replication failures.
    • Application awareness and wave planning in Azure Migrate: The new application-aware method sets the stage for grouping dependent resources into waves and provides technical and business insights for the entire application to help you decide on Azure targets and tooling. Migrate applications with dependent workloads, as one to collocate in Azure for optimal performance and cost. 
    • JBoss EAP on App Service: JBoss EAP on App Service is a jointly developed and supported managed solution from Red Hat and Microsoft for running enterprise Java applications with maximum productivity. We have recently made important changes to make JBoss EAP on App Service as cost-effective as possible. This includes a 60% plus license fee price reduction for Pay-As-You-Go plans, memory optimized SKUs, a free tier for a lower barrier to entry, the availability of JBoss EAP 8, as well as a soon-to-be-released ability to Bring-Your-Own-Subscription to App Service. 
    • JBoss EAP on Azure Virtual Machines: Robust solutions to run JBoss EAP on Azure Virtual Machines are now generally available (GA). The solutions are developed and supported by Red Hat and Microsoft. The solutions include templates available in the Azure Portal to automate most boilerplate resource provisioning tasks. The solutions also include JBoss EAP VM images published in the Azure Marketplace. 

    Customer success stories 

    The success of the Microsoft and Red Hat partnership is best demonstrated through the experiences of our customers. Organizations across various industries have leveraged Azure and Red Hat solutions to achieve remarkable results. For example, Teranet utilized Azure Red Hat OpenShift for a digital transformation, migrating mission-critical systems from on-premises to Azure. Outcomes included improved automation, enhanced customer confidence, and significant cost savings to the tune of CA5.6 million. 

    Western Sydney University adopted Red Hat Enterprise Linux on Azure to enhance the security and reliability of its critical systems. 

    By providing innovative solutions and exceptional support, we empower our customers to overcome challenges and drive business growth. 

    What to expect at Red Hat Summit 2025 

    Red Hat Summit 2025 promises to be an exciting event, with a wide range of sessions, workshops, and presentations. Microsoft will be actively involved, sharing insights and expertise on various topics. Attendees can look forward to exclusive announcements and product launches that will shape the future of technology. 

    This is a unique opportunity to connect with industry leaders and gain valuable insights into the latest trends and innovations. Our vision is to deliver cutting-edge solutions that enable organizations to thrive in the digital age. We remain committed to our customers, ensuring that they have access to the best technologies and support.

    Learn more about Red Hat on Azure

    Join us to explore the innovative solutions that Microsoft and Red Hat have to offer. Register now to attend the summit and engage with our experts to learn more about how our collaboration can benefit your organization. 

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    MIL OSI Economics –

  • MIL-OSI Global: In Yemen, Trump risks falling into an ‘airpower trap’ that has drawn past US presidents into costly wars

    Source: The Conversation – Global Perspectives – By Charles Walldorf, Professor of Politics and International Affairs, Wake Forest University

    A Yemeni soldier inspects the damage reportedly caused by U.S. airstrikes in Sanaa, Yemen, on April 27, 2025. AP Photo/Osamah Abdulrahman

    In the first 100 days of his second term, U.S. President Donald Trump has shown a willingness to lean on airpower when his administration decides that military force is necessary abroad.

    So far, the second Trump administration has launched limited airstrikes in Somalia and carried out a weekslong air campaign against the Iranian-aligned Houthis who rule most of Yemen. The president has also threatened direct strikes against Iran itself should talks on a new nuclear deal collapse.

    This turn to airpower for Trump makes sense to me. Airpower is cheap when compared with ground wars, and it usually comes with fewer casualties for those conducting the strikes. This helps explain why U.S. leaders, including Trump as a self-proclaimed “anti-war president,” typically find it attractive.

    But if the Trump administration is not careful, it could fall into what military strategists informally call the “airpower trap.” This happens when the stated objectives of military force are too big for airpower alone to achieve, potentially leading to a face-saving escalation of conflict that could – if history is a guide – draw in ground forces from the U.S. or their local allies.

    U.S. presidents such as Lyndon Johnson, Bill Clinton and Barack Obama all fell into this trap. In Vietnam, the Balkans and Syria, respectively, all ended up with far bigger wars than they bargained for, with consequences for civilian casualties, international peace and damage to America’s reputation abroad.

    As an expert on U.S. national security policy and the Middle East region, I believe the Trump administration is in danger of falling into the airpower trap in Yemen and could potentially do the same in Iran should it elect to use direct force against Tehran. Recognizing this military and historical risk, and opting for some kind of off ramp from continued airstrikes, might be the best hope the U.S. government has to avoid a further escalation into full-scale war.

    The limits of air bombardment

    Research shows airpower is most effective when it’s used for limited objectives – things like taking out leaders of terrorist groups or degrading rival capabilities – or in support of ground operations for more ambitious ends, like bolstering or overturning governments.

    Given the sophistication of U.S. airpower, a common fallacy among American strategists in particular is to think big strategic gains can be achieved solely by dropping bombs from above.

    But when airpower alone fails, leaders can feel the pressure to expand the scope of conflict and end up with bigger military commitments than expected.

    Johnson’s initial airpower-only strategy for attempting to stop communism in South Vietnam failed miserably, leading to his decision to commit half a million U.S. troops into war. That expanded conflict presaged years of war, with massive humanitarian and political consequences for people in Southeast Asia and America, as well as lasting reputational damage to the U.S.

    Yemenis carry the coffins of civilians killed in U.S. airstrikes while participating in their funeral procession on May 1, 2025, in Sanaa, Yemen.
    Mohammed Hamoud/Getty Images

    Worried about U.S. and NATO credibility, Clinton escalated airstrikes – nearly to the point of introducing ground troops – for the ambitious end of stopping genocide in the Balkans during the early 1990s. Likewise, Obama’s initial airpower-only strategy to “degrade and destroy” the Islamic State group quickly faltered, leading Obama, under intense pressure at home and abroad, to introduce thousands of ground troops to combat the group’s territorial gains across Syria and Iraq.

    In each case, relying on airpower alone ultimately failed to meet their objectives.

    The airpower trap in Yemen

    There are reasons to believe that conditions in Yemen mean that Trump, too, could be falling into a similar trap.

    Trump has adopted an airpower-only strategy to “completely annihilate” the Houthis, a powerful rebel movement that all but won the recent Yemeni civil war. The proximate cause of the air campaign, a policy inaugurated by the Biden administration and expanded dramatically by Trump, is to restore the free flow of shipping in the Red Sea that the Houthis have disrupted by force to protest Israel’s ongoing war in Gaza.

    The early signs are that this air campaign isn’t going well.

    Despite the U.S. burning through finite munitions supplies at a cost of US$1 billion to bomb at least 800 sites since March 15, the Houthis are undeterred and the volume of Red Sea shipping remains as depressed as ever. Houthi attacks on U.S. ships and Israel continue. A Houthi missile narrowly missed Israel’s Ben-Gurion airport on May 4.

    In fact, the direct attacks on the Houthis and the rapidly growing casualty count among Yemeni civilians from the Trump administration’s bombing campaign appear to be strengthening the Houthis’ political position in Yemen. In a particularly shocking case, U.S. bombs reportedly hit an African migrant camp, killing and injuring dozens of people.

    The humanitarian crisis from the brutal bombing campaign by the Saudi-led coalition against the Houthis in the late 2010s had a similar effect.

    Airpower played a big part then, too. The Saudi coalition, supported by the U.S., engaged in some 25,000 air raids against the Houthis, killing or maiming approximately 19,000 civilians. Yet despite such overwhelming force, the Houthis kept seizing territory and eventually won the civil war, according to experts.

    They have been the country’s de facto rulers ever since.

    Now, Trump is exploring options to further escalate to defeat the Houthis. Reports indicate his administration is considering arming, training and enabling anti-Houthi resistance fighters who are loosely affiliated with Yemen’s government in exile to launch ground operations.

    Between diplomacy and quagmire

    Proxies are a common tool U.S. leaders turn to when caught in the airpower trap. Sometimes those proxies fulfill American policy objectives, such as the Kurdish People’s Protection Units, or YPG, which helped the U.S. defeat the Islamic state caliphate in 2019.

    A U.S. Air Force F-5 Skoshi Tiger drops three general purpose bombs on Vietnam on Feb. 28, 1966.
    Photo by Underwood Archives/Getty Images

    Often, U.S. proxies fail on both strategic and humanitarian terms, leading to further escalation, strategic quagmires for the U.S., and loss of life and political sovereignty for the people under attack. South Vietnam was an instructive example.

    Riven by corruption, poor governance, weakness and political infighting, the South Vietnamese army and government proved so ineffective at fighting the North Vietnamese that Johnson decided to launch a ground war once U.S. airpower failed.

    Today, the anti-Houthi resistance in Yemen looks a lot more like the South Vietnamese government than the Kurdish YPG. According to a 2025 report from the Soufan Center, a security think tank, the anti-Houthi forces are poorly trained and considered incapable of pulling off victories over the Houthis without major U.S. support.

    Meanwhile, the anti-Houthi resistance consists of an estimated 85,000 fighters, compared with some 350,000 for the Houthis.

    Absent continuing the air war or escalating it into a more all-encompassing conflict, U.S. officials can still pursue diplomacy in order to try to find a political solution to the Yemen conflict.

    Despite the Trump’s administration public threats, the U.S. is already negotiating with the Houthis’ main sponsor, Iran.

    For their part, the Houthis continue to insist that they will stop attacking ships in the Red Sea if the U.S.-backed Israeli war in Gaza halts, something that happened during the recent Gaza ceasefire.

    The Trump administration might consider seeking alternatives, such as direct or indirect talks, if it wants to avoid getting stuck in a widening conflict in Yemen. History is full of examples of what happens when airpower takes on a logic of its own.

    Charles Walldorf is a Senior Fellow at the think tank Defense Priorities.

    – ref. In Yemen, Trump risks falling into an ‘airpower trap’ that has drawn past US presidents into costly wars – https://theconversation.com/in-yemen-trump-risks-falling-into-an-airpower-trap-that-has-drawn-past-us-presidents-into-costly-wars-255651

    MIL OSI – Global Reports –

  • MIL-OSI USA: Soldiers, stevedores set stage for successful African Lion 2025

    Source: United States Army

    1 / 2 Show Caption + Hide Caption – U.S. Army Lt. Col. Travis Michelena, center, the theater support team chief assigned to the 79th Theater Sustainment Command (Forward), speaks with Maj. Joshua Veal, left, a theater sustainment planner assigned to the 79th Theater Sustainment Command (Forward), and their Tunisian Armed Forces counterpart during port operations in preparation for Exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025.Multiple units joined the port operations in an effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. (Photo Credit: U.S. Army photo by Maj. Joe Legros) VIEW ORIGINAL
    2 / 2 Show Caption + Hide Caption – U.S. Soldiers and civilians assigned to the 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command, work with the Tunisian Armed Forces and civilian officials to offload equipment from the Portuguese-flagged BBC Bergen during port operations in preparation for exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025. Multiple units joined the 839th’s offloading effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. This photo has been altered for security purposes by blurring out the license plate. (Photo Credit: U.S. Army photo by Maj. Joe Legros) VIEW ORIGINAL

    Back to

    U.S. Army Southern European Task Force, Africa (SETAF-AF)

    GABES, Tunisia — A stevedore shouted over the diesel hum of cranes as the first storage container was lifted out of the cargo ship and onto Tunisian soil. For the untrained eye, it may have looked like just another port delivery. But for the Soldiers and civilians waiting at the port of Gabes, it marked the start of something much bigger.

    This was the opening move in setting the theater for exercise African Lion 2025 (AL25).

    Without the shipment of 95 pieces of cargo, including vehicles, equipment and weapon systems, the exercise would be dead in the Mediterranean water.

    “We’re not just moving cargo; we’re enabling the entire exercise to happen,” said U.S. Army Chief Warrant Officer 2 Dustin VanFleet, a mobility officer assigned to the 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command.

    1 / 3 Show Caption + Hide Caption – U.S. Soldiers and civilians assigned to the 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command, work with the Tunisian Armed Forces and civilian officials to offload equipment from the Portuguese-flagged BBC Bergen during port operations in preparation for exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025. Multiple units joined the 839th’s offloading effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. (Photo Credit: U.S. Army photo by Maj. Joe Legros) VIEW ORIGINAL
    2 / 3 Show Caption + Hide Caption – U.S. Soldiers and civilians assigned to the 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command, work with the Tunisian Armed Forces and civilian officials to offload equipment from the Portuguese-flagged BBC Bergen during port operations in preparation for exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025. Multiple units joined the 839th’s offloading effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. (Photo Credit: U.S. Army photo by Maj. Joe Legros) VIEW ORIGINAL
    3 / 3 Show Caption + Hide Caption – U.S. Soldiers and civilians assigned to the 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command, work with the Tunisian Armed Forces and civilian officials to offload the very first shipping container from the Portuguese-flagged BBC Bergen during port operations in preparation for exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025. Multiple units joined the 839th’s offloading effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. (Photo Credit: U.S. Army photo by Maj. Joe Legros) VIEW ORIGINAL

    Along with setting the theater, VanFleet also set the record straight. A stevedore, he clarified, is a longshoreman who works at a port and is responsible for moving goods on and off ships.

    “We’re the first ones in,” VanFleet explained. “Before troops land or vehicles roll, we’re on the ground establishing the logistical foundation that allows the rest of the force to operate. That’s how we set the theater.”

    This does not happen overnight.

    Setting the theater is a strategic concept that goes beyond logistics. It means having an adaptable and agile military with the infrastructure, agreements and relationships in place to shape conditions for successful Army, joint and combined operations. The combined force in Gabes validated those capabilities in a real-world environment.

    “This is my first time participating in African Lion and working with the Tunisians. It’s been a seamless process allowing for the clearance of cargo at a rapid pace,” said VanFleet.

    The Portuguese-flagged vessel, BBC Bergen, arrived to a welcome-party of Italians, Americans and Tunisians, highlighting the multinational effort involved. The Bergen’s journey took two and a half days across the Mediterranean from Livorno, Italy and all 95 pieces — including shipping containers filled with equipment, trailers, water purification systems, air defense vehicles and M119 howitzers — were offloaded in less than a day and a half.

    1 / 3 Show Caption + Hide Caption – U.S. Soldiers and civilians assigned to the 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command, work with the Tunisian Armed Forces and civilian officials to offload equipment from the Portuguese-flagged BBC Bergen during port operations in preparation for exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025. Multiple units joined the 839th’s offloading effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. (Photo Credit: U.S. Army photo by Maj. Joe Legros) VIEW ORIGINAL
    2 / 3 Show Caption + Hide Caption – U.S. Soldiers and civilians assigned to the 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command, work with the Tunisian Armed Forces and civilian officials to offload equipment from the Portuguese-flagged BBC Bergen during port operations in preparation for exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025. Multiple units joined the 839th’s offloading effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. (Photo Credit: U.S. Army photo by Maj. Joe Legros) VIEW ORIGINAL
    3 / 3 Show Caption + Hide Caption – U.S. Soldiers and civilians assigned to the 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command, work with the Tunisian Armed Forces and civilian officials to offload a generator trailer during port operations in preparation for exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025. Multiple units joined the 839th’s offloading effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. (Photo Credit: U.S. Army photo by Maj. Joe Legros) VIEW ORIGINAL

    Multiple units joined the 839th Transportation Battalion’s offloading effort, including Soldiers assigned to U.S. Army Southern European Task Force, Africa (SETAF-AF), the 79th Theater Sustainment Command, the 173rd Airborne Brigade, 1st Battalion, 57th Air Defense Artillery Regiment (1-57 ADAR) and the 240th Composite Supply Company (240th CSC) — all there to ensure a successful offloading process.

    Two members of the 1-57 ADAR accompanied the crew of the Bergen on its voyage from Italy. The escort is a requirement anytime sensitive U.S. military equipment, dubbed “super cargo,” is transported on a foreign-flagged vessel.

    “Without the port operation, nothing downstream moves forward,” said VanFleet.

    This first port operation in Tunisia set the foundation for the broader SETAF-AF-led African Lion exercise, showcasing the U.S. Army’s ability to operate in complex environments. Gabes was simply the first stop.

    Immediately after offloading, equipment was loaded onto Tunisian Armed Forces vehicles and transported to exercise locations throughout the country.

    The 839th Transportation Battalion is unique compared to most Army units. Along with Soldiers, it also employs two U.S. Army civilians and up to 10 local nationals per detachment. During port operations, the assigned detachment leads contract responsibilities, documentation and cargo handling, while the battalion sends military leadership to provide command oversight.

    “Utilizing our local nationals is a huge asset,” said VanFleet. “Some individuals have been doing this for more than 30 years. Their knowledge of the area of operations and relationships with host-nation authorities are critical to mission success.”

    1 / 3 Show Caption + Hide Caption – U.S. Soldiers and civilians assigned to the 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command, work with the Tunisian Armed Forces and civilian officials to offload a shipping container during port operations in preparation for exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025. Multiple units joined the 839th’s offloading effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. (U.S. Army photo by Maj. Joe Legros) (Photo Credit: Maj. Joe Legros) VIEW ORIGINAL
    2 / 3 Show Caption + Hide Caption – U.S. Army Chief Warrant Officer 2 Dustin VanFleet, second from left, a mobility officer assigned to the 839th Transportation Battalion, 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command, speaks with civilian officials prior to offloading equipment from the Portuguese-flagged BBC Bergen during port operations in preparation for exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025. Multiple units joined the 839th’s offloading effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. (Photo Credit: U.S. Army photo by Maj. Joe Legros)
    3 / 3 Show Caption + Hide Caption – U.S. Soldiers and civilians assigned to the 839th Transportation Battalion, 598th Transportation Brigade, Surface Deployment and Distribution Command, U.S. Transportation Command, speak with the Tunisian Armed Forces and civilian officials prior to offloading equipment from the Portuguese-flagged BBC Bergen during port operations in preparation for exercise African Lion 2025 (AL25) in Gabes, Tunisia, April 8, 2025. Multiple units joined the 839th’s offloading effort to set the exercise theater, validating their ability to deploy personnel and equipment over long distances while maintaining operational readiness. AL25 is U.S. Africa Command’s premier annual exercise, led by U.S. Army Southern European Task Force, Africa (SETAF-AF), that strengthens the U.S. military’s ability to respond rapidly, operate forward and train alongside allies and partners. Designed to address shared security challenges, AL25 enhances readiness, reinforces strategic reach and fosters innovative solutions. (Photo Credit: U.S. Army photo by Maj. Joe Legros) VIEW ORIGINAL

    In the first months of 2025 alone, the battalion supported missions in Poland, Turkey, Greece, Tunisia, Italy and Croatia, with additional deployments planned throughout the year.

    “It’s vital we keep exercising these ports and working with our partners,” said VanFleet. “It allows everyone to create that muscle memory that only makes our relationships stronger.”

    AL25, U.S. Africa Command’s largest annual exercise, brings together more than 10,000 troops from over 40 nations to enhance interoperability and strengthen multinational readiness. But before the first formation steps into the training area, port operations like the one in Gabes must succeed.

    Every stevedore handshake and each offloaded vehicle contributes to the larger picture: the ability to quickly and efficiently project lethality anywhere, anytime.

    About the 839th Transportation Battalion

    The 839th supports both U.S. European Command and U.S. Africa Command, functioning as the single port manager for U.S. military cargo entering and exiting strategic seaports in both theaters. Its responsibilities include staging, reception, onward movement, customs clearance, agricultural inspections and overall integration of DoD assets at ports of embarkation and debarkation.

    About African Lion

    African Lion 25 (AL25) is set to be the largest annual military exercise in Africa, bringing together 41 nations, including seven NATO allies, and about 10,000 troops. Led by U.S. Africa Command (USAFRICOM), the exercise will take place from April 14 to May 23, 2025, across Ghana, Morocco, Senegal, and Tunisia.

    AL25 is designed to restore the warrior ethos, sharpen lethality and strengthen military readiness alongside our African partners and allies. This large-scale exercise will enhance our ability to work together in complex, multi-domain operations—preparing forces to deploy, fight and win when it matters most.

    African Lion provides an opportunity to conduct realistic, dynamic and collaborative readiness training in an austere environment that intersects multiple geographic and functional combatant commands including U.S. Africa Command, U.S. European Command, and U.S. Central Command; as well as strategic maritime choke points and global shipping lanes.

    About SETAF-AF

    U.S. Army Southern European Task Force, Africa (SETAF-AF) prepares Army forces, executes crisis response, enables strategic competition and strengthens partners to achieve U.S. Army Europe and Africa and U.S. Africa Command campaign objectives.

    Follow SETAF-AF on:

    Facebook, X, Instagram, YouTube, LinkedIn & DVIDS

    MIL OSI USA News –

  • MIL-OSI China: China-Egypt “Eagles of Civilization 2025” joint air force training wraps up 2025-05-05 23:32:12 The China-Egypt “Eagles of Civilization 2025” joint air force training concluded at an Egyptian air force base on the morning of May 4, 2025.

    Source: People’s Republic of China – Ministry of National Defense

      By Liu Jimei and Yu Hongchun

      CAIRO, May 5 — The China-Egypt “Eagles of Civilization 2025” joint air force training concluded at an Egyptian air force base on the morning of May 4, 2025.

      This joint training is the first time that the Chinese PLA Air Force has dispatched its various types of troops to Africa to systematical conduct the joint training, demonstrating the long-range force projection, agile force deployment and systematic combat capabilities of the Chinese PLA Air Force.

      During the 18-day joint training, the two sides conducted discussions and exchanges on such topics as training mode, air combat tactics, and aerial refueling operations. Participating troops from both sides completed training subjects including counterair operations, suppression of enemy air defenses (SEAD), battlefield search and rescue, and mixed grouping, marking a new starting point and milestone for the military cooperation between the two countries.

    loading…

    MIL OSI China News –

  • MIL-OSI Russia: Pakistan, Iran reaffirm commitment to regional peace and stability

    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

    ISLAMABAD, May 5 (Xinhua) — Pakistan and Iran on Monday reaffirmed their commitment to regional peace and stability, vowing to strengthen bilateral cooperation in key areas including trade, energy, border security and regional connectivity.

    As noted in a statement by the Pakistani Foreign Ministry, the parties reaffirmed their positions during a meeting between Iranian Foreign Minister Abbas Araghchi and Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar in Islamabad.

    The parties discussed a wide range of regional and international developments, noting the importance of close coordination to overcome common challenges and develop strategic cooperation.

    A. Araghchi reiterated Tehran’s firm desire to expand bilateral ties with Pakistan in all areas. M. I. Dar, in turn, emphasized the deep historical, cultural and religious ties between the two neighboring countries.

    Reiterating Pakistan’s principled stand in the fight against terrorism, M. I. Dar said his country has made significant sacrifices in the global battle against terrorism and remains committed to combating extremism in all its forms. –0–

    MIL OSI Russia News –

  • MIL-OSI Security: UPDATED: Three people arrested as part of Counter Terrorism Policing operation

    Source: United Kingdom London Metropolitan Police

    Three people have been arrested in London as part of a Counter Terrorism Policing investigation.

    Two of the men [A and B] were arrested at separate addresses in north west London and one man [C] was arrested at an address in west London on Saturday, 3 May, as part of the investigation, which is being led by the Met’s Counter Terrorism Command.

    The men, aged 39 [A], 44 [B] and 55 [C], and who are all Iranian nationals were arrested and detained under section 27 of the National Security Act 2023.

    All three men were taken into custody and warrants of further detention have been sought and obtained, meaning they can be detained until Saturday, 10 May.

    This investigation is not connected to the arrest of five people yesterday as part of a separate Met Counter Terrorism operation.

    Enquiries remain ongoing.

    MIL Security OSI –

  • MIL-OSI Security: Warrants of further detention obtained in terrorism investigation

    Source: United Kingdom London Metropolitan Police

    A Counter Terrorism Policing investigation, led by the Met’s Counter Terrorism Command, is continuing following the arrest of five Iranian nationals on suspicion of terrorism offences.

    The men, were arrested on Saturday, 3 May, as part of a national pre-planned operation are as follows:

    [A] a 29-year-old man was arrested in the Swindon area

    [B] a 46-year-old man was arrested in west London

    [C] a 29-year-old man was arrested in the Stockport area

    [D] a 40-year-old man was arrested in the Rochdale area

    [E] a 24-year-old man was arrested in the Manchester area

    All five men, who are all Iranian nationals, were arrested on suspicion of preparation of a terrorist act, contrary to section 5 of the Terrorism Act (TACT), 2006. Four of the men [A-D] were detained under TACT.

    Warrants of further detention have today (Monday, 5 May) been secured for those four men, meaning they can be detained and questioned until Saturday, 10 May.

    The fifth man [E] was detained under the Police and Criminal Evidence Act (PACE). He has now been released on bail, with conditions, to a date in May.

    As part of the investigation, officers are also carrying out searches at a number of addresses in the Greater Manchester, London and Swindon areas.

    Commander Dominic Murphy, Head of the Met’s Counter Terrorism Command, said: “Our officers and staff are progressing what is a significant and highly complex investigation, and we still have searches and activity underway at multiple addresses across the country.

    “We are working incredibly hard, with public safety at the forefront of our ongoing efforts.

    “We believe that a specific premises was the target of this suspected plot and Counter Terrorism Policing officers remain in close contact with the affected premises.

    “At this time, we will not be providing further information about the suspected target for reasons of operational security and public safety.

    “I would like to ask people to support my officers in this and not to speculate or share information that has not been confirmed by Counter Terrorism Policing. We have clear and critical reasons not to provide more detail at this time.

    “The investigation is still in its early stages and we are exploring various lines of enquiry to establish any potential motivation as well as to identify whether there may be any further risk to the public linked to this matter.

    “As always, I would ask the public to remain vigilant and if they see or hear anything that concerns them, then to contact us.

    “We are working closely with local officers in the areas where we made arrests on Saturday and I’d like to thank police colleagues around the country for their ongoing support.”

    Operational activity is currently being supported by Greater Manchester Police and Wiltshire Police, as well as colleagues from Counter Terrorism Policing across the country.

    As always, we would ask the public to remain vigilant and if they see or hear anything that doesn’t look or feel right, then to report it to police – either by calling police, in confidence, on 0800 789 321 or via www.gov.uk/ACT

    In an emergency, always dial 999.

    MIL Security OSI –

  • MIL-OSI USA: Wyden Presses State Department for Update on Use of Fallon Smart Policy, Urges Trump to Reset U.S.-Saudi Policy

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)
    May 05, 2025
    Senator: “I will not be silent when Saudi Arabia tries to cleanse its blood-stained hands, nor will I cease to hold Saudi officials accountable for the death of Fallon Smart and others like hers.”
    Washington, D.C. – U.S. Senator Ron Wyden today asked the Trump administration to provide an update on the State Department’s implementation of the Fallon Smart Policy, which requires the department to identify and revoke visas of any foreign official helping foreign criminal suspects evade prosecution by absconding from the United States.
    The State Department policy secured by Wyden two years ago takes its name from a 15-year-old Portland girl struck and killed by a speeding car while riding her bicycle in 2016. The driver accused in her hit-and-run death on Portland’s Southeast Hawthorne Boulevard was a Saudi national who The Oregonian reported fled the country before trial – ultimate resurfacing in Saudi Arabia — with the likely assistance of the Saudi government.
    “The Fallon Smart Policy sends a strong message that there is no place in our country for foreign officials helping criminal suspects evade the law,” Wyden wrote Secretary of State Marco Rubio in today’s letter.  “As I promised the family of Fallon Smart, I will birddog the implementation of this policy and make sure the Fallon Smart Policy is applied whenever there is evidence of foreign officials undermining the American justice system.  I will not be silent when Saudi Arabia tries to cleanse its blood-stained hands, nor will I cease to hold Saudi officials accountable for the death of Fallon Smart and others like hers.  To that end, I ask you to provide me with details about the implementation of the policy.”
    Wyden has long worked since 2018 to expose a pattern of Saudi nationals committing violent crimes in the United States and evading U.S. justice with help from the Saudi government. 
    “In most of these cases, local law enforcement confiscated the passports of the accused criminals and set bail at thresholds the individuals were unlikely to pay themselves,” Wyden wrote, noting passage of his bill in 2019 to declassify an FBI report on Saudi assistance of fugitives that concluded the Saudis wouldn’t stop until the United States addresses Saudi Arabia about its lawlessness. “Yet, many of these individuals somehow made bail and quickly received the resources and travel documents necessary to board a plane and leave our country, only to resurface in Saudi Arabia later.
    Wyden also noted he traveled last month to Saudi Arabia to raise these issues directly with Saudi government officials, and urging those Saudi officials to return to the United States all Saudi nationals accused of crimes so they may stand trial. 
    “I ask that you pursue this issue with the highest levels of leadership within the Kingdom of Saudi Arabia and formally press for the return of all Saudi nationals who evaded justice,” Wyden wrote. “Finally, I ask that you promptly declassify and make public any information about foreign officials engaging in the practice of helping foreign criminal suspects evade the U.S. justice system.  As the declassification of the 2019 FBI report demonstrated, transparency is necessary if local judicial and law enforcement officials are to be notified of the threat and if the U.S. Government, in coordination with Congress, are to develop and implement policies to protect Americans and the rule of law.
    In a second Wyden letter today, Wyden wrote President Trump to urge a full reset of the U.S.-Saudi Arabia relationship to protect the American people and safeguard U.S. interests. 
    In that letter, Wyden again cited the Fallon Smart Policy as well as the role of Crown Prince Mohammad bin Salman Al Saud and Saudi government officials in the brutal slaying of Washington Post journalist Jamal Khashoggi along with the surveillance, detention, torture and killing of dissidents, journalists, women’s rights activists and foreign laborers.
    “I understand that you are planning a visit to Saudi Arabia, and I urge you to seek accountability for Saudi abuses against our country, including its punitive economic actions that have undermined U.S. interests,” Wyden wrote Trump. “You must push for Saudi recognition of these actions.  You must also seek retribution for these actions and refrain from handing out favors to the Saudis until they follow through with meaningful reform.” 
    The entire letter to Trump is here. The entire letter to Rubio is here.
    Related Files

    MIL OSI USA News –

  • MIL-OSI Security: Defense News: The United States Honors Egyptian Admiral and Celebrates Maritime Partnership During USS Truxtun Visit to Alexandria

    Source: United States Navy

    Alexandria, Egypt — U.S. Navy Vice Adm. George M. Wikoff, commander of U.S. Naval Forces Central Command and U.S. 5th Fleet, presented Commander-in-Chief of the Egyptian Navy Vice Adm. Ashraf Ibrahim Atwa Megahed with a personal military decoration from U.S. Central Command during a reception aboard the Arleigh Burke-class guided-missile destroyer USS Truxtun (DDG 103) in Alexandria, Egypt, May 1.

    MIL Security OSI –

  • MIL-OSI: Coface : Coface records a good start to the year with net income of €62.1m, for an RoATE of 12.7%

    Source: GlobeNewswire (MIL-OSI)

    Coface records a good start to the year with net income of €62.1m, for an RoATE of 12.7%

    Paris, 5 May 2025 – 17.35

    • Turnover: €473m, up 2.0% at constant FX and perimeter
      • Trade credit insurance revenue up 1.2%; client activity also increased by 1.2%
      • Client retention back up at near-record (95.0%); pricing remained negative (-1.3%) in line with historical trends
      • Business information growing again double-digit (+14.7% at constant FX, +18.4% at current FX). Debt collection up +14.8%; factoring was down slightly by -0.7%
    • Net loss ratio at 39.1%, up by 3.3 ppts; net combined ratio at 68.7%, up by 5.6 ppts and stable compared to Q4-24
      • Gross loss ratio at 38.7%, up by 5.5 ppts with higher opening year reserving and reserve releases stable at a high level year on year
      • Net cost ratio increased 2.2 ppts to 29.5%, reflecting continued investments partially offset by better product mix
    • Net income (group share) at €62.1m, down by -9.2% compared to Q1-24
    • Annualised RoATE1at 12.7%

    Unless otherwise indicated, change comparisons refer to the results as at 31 March 2024

    Xavier Durand, Coface’s Chief Executive Officer, commented:
    “With a net income of €62.1m and an RoATE of 12.7%, Coface posted another quarter of solid results in a highly volatile environment. Shifting US policy on international trade is creating a high level of uncertainty, although its potential consequences are not yet visible. In this complicated environment for corporates, Coface remains very close to its clients and is maintaining a highly preventative stance in its risk portfolio which is well diversified across regions and sectors.
    In the medium term, depending on their actual implementation and level, the announced tariffs may have a negative impact on global trade volumes. We may also see prices increase in the United States and an adverse impact on certain industrial sectors and regions, likely leading to higher numbers of business failures.
    Thanks to its leading infrastructure, the quality of its information and its teams of internationally recognised experts, Coface is well positioned to support its clients in managing their risks.
    Against this backdrop, our strategy to invest in better understanding short-term risks and in the strengthening of our range of services (Business Information, Debt Collection) is more relevant than ever and resolutely pursued.”

    Key figures at 31 March 2025

    The Board of Directors of COFACE SA examined the summary consolidated financial statements for the first three months (non-audited) during its meeting on 5 May 2025. The Audit Committee at its meeting on 2 May 2025 also previously reviewed them.

    Income statement items in €m Q1-24 Q1-25 Variation % ex. FX*
    Insurance revenue 378.6 382.9 +1.1% +1.2%
    Other revenue 85.0 90.3 +6.2% +5.5%
    REVENUE 463.7 473.2 +2.1% +2.0%
    UNDERWRITING INCOME/LOSS AFTER REINSURANCE 100.3 85.4 (14.9)% (15.4)%
    Investment income, net of management expenses, excluding finance costs 17.9 10.4 (42.0)% (44.2)%
    Insurance Finance Expenses (11.4) (4.1) (63.6)% (61.6)%
    CURRENT OPERATING INCOME 106.8 91.6 (14.2)% (15.3)%
    Other operating income / expenses (0.1) (0.4) +438.8% +439.8%
    OPERATING INCOME 106.8 91.2 (14.5)% (15.6)%
    NET INCOME (GROUP SHARE) 68.4 62.1 (9.2)% (10.5)%
             
    Key ratios Q1-24 Q1-25 Variation
    Loss ratio net of reinsurance 35.8% 39.1% 3.4 ppts
    Cost ratio net of reinsurance 27.3% 29.5% 2.2 ppts
    COMBINED RATIO NET OF REINSURANCE 63.1% 68.7% 5.6 ppts
             
    Balance sheet items in €m 2024 Q1-25 Variation
    Total equity (group share) 2,193.6 2,234.0 +1.8%

    * Also excludes scope impact

    1.   Turnover

    Coface recorded consolidated turnover of €473.2m, up +2.0% at constant FX and perimeter compared to Q1-24. As reported (at current FX and perimeter), turnover rose +2.1%.

    Revenues from insurance activities (including Bonding and Single Risk) increased by +1.2% at constant FX and perimeter. Client retention returned to a level close to its record high at 95.0% in a still competitive market. New business totalled €37m, stable compared with Q1-24. This was driven by an increase in demand and growth investments, particularly in the mid-market segment.

    Growth in client activity was positive at 1.2%, marking a further improvement compared to the already positive previous quarter. However, this level reflects the economic environment that prevailed before the tariff announcements by the United States. The price effect remained negative at -1.3% in Q1-25, in line with last year and long-term trends.

    Turnover from non-insurance activities was up +7.5% compared to Q1-24. However, not all business lines enjoyed the same momentum. Factoring turnover fell by -0.7%, with Germany and Poland recording identical performance. Business Information turnover continued to grow, rising +14.8% (and +18.4% on a reported basis). Fee and commission income (debt collection commissions) increased +14.8% due to the increase in claims to be collected. Commissions were up +4.0%, exceeding growth in premium income.

    Total revenue – in €m
    (by country of invoicing)    		 Q1-24 Q1-25 Variation % ex. FX2
    Northern Europe 97.8 97.0 (0.8)% (0.8)%
    Western Europe 91.7 96.0 +4.7% +1.9%
    Central & Eastern Europe 45.1 42.3 (6.3)% (6.9)%
    Mediterranean & Africa 138.9 143.4 +3.2% +5.1%
    North America 42.6 43.5 +2.0% +1.5%
    Latin America 18.6 20.4 +9.7% +16.0%
    Asia-Pacific 28.9 30.7 +6.2% +2.7%
    Total Group 463.7 473.2 +2.1% +2.0%

    In Northern Europe, turnover was down by -0.8% at constant and current FX. The region continues to suffer from the weakness of the German economy. This slight decline was partially offset by growth in non-insurance activities. Factoring turnover was down -0.7% but services were up +17.8%.

    In Western Europe, turnover increased +1.9% at constant FX (+4.7% at current FX). The loss of several significant contracts was more than offset by growth in service activities.

    In Central and Eastern Europe, turnover fell -6.9% at constant FX (-6.3% at current FX) due to client activity, which continued to drag down credit insurance, and a significant contract that is now included in another region.

    In the Mediterranean and Africa region, which is driven by Italy and Spain, turnover rose +5.1% at constant FX and +3.2% at current FX on the back of robust sales in credit insurance and services and a generally stronger economic environment.

    In North America, turnover rose by +1.5% at constant FX and +2.0% on a reported basis. The region benefited from a slight improvement in client activity and higher retention.

    In Latin America, turnover increased +16.0% at constant FX and +9.7% at current FX. The region is benefiting from continued high inflation, which is benefiting client activity.

    In Asia-Pacific, turnover increased +2.7% at constant FX and +6.2% at current FX. The region is benefiting from high retention and a slight increase in client activity.

    2.   Result

    • Combined ratio

    The combined ratio net of reinsurance stood at 68.7% for Q1-25, an increase of 5.6 ppts year on year but flat compared to the previous quarter.

    (i)  Loss ratio

    The gross loss ratio stood at 38.7%, up 5.5 ppts compared to the previous year. This increase reflects the normalisation of the loss experience offset by high but stable reserve releases compared to the previous year. The number of mid-sized claims was below long-term trends but is increasing.

    The Group’s provisioning policy remained unchanged. The amount of provisions related to the underwriting year, although discounted, remained in line with the historical average. Strict management of past claims enabled the Group to record 43.6 ppts of recoveries.

    The net loss ratio increased to 39.1%, up 3.3 ppts compared to Q1-24, with reinsurance absorbing part of the deterioration in the gross loss ratio.

    (ii)  Cost ratio

    Coface is pursuing a strict cost management policy while maintaining its investments, in line with the Power the Core strategic plan. In Q1-25, costs rose by +5.7% at constant FX and perimeter, and +5.9% at current FX.

    The cost ratio net of reinsurance was 29.5% in Q1-25, up 2.2 ppts year on year. This increase was mainly due to cost inflation (+1.4 ppt) and continued investment (+2.9 ppts). In contrast, the improved product mix (Business Information, Debt Collection and fee and commission income) had a positive effect of 2.6 ppts. The change in reinsurance commissions explains most of the remainder.

    • Financial result

    Net financial income was €10.4m in the first quarter. This amount includes an FX effect of -€12.4m, mostly due to the application of IAS 29 (Hyperinflation) mainly in Turkey for €4.5m.

    The portfolio’s current yield (i.e. excluding capital gains, depreciation and FX) was €24.9m. The accounting yield3, excluding capital gains and fair value effect, was 0.7% in Q1-25. The yield on new investments was 3.8%.

    Insurance Finance Expenses (IFE) stood at €4.1m for the first quarter. Outside of FX gains, the amount is very similar to that of previous quarters.

    • Operating income and net income

    Operating income amounted to €91.2m in Q1-25, down 14.5%.

    The effective tax rate was 23% for the quarter (vs. 27% in Q1-24).

    In total, net income (group share) was €62.1m, down 9.2% compared to the first quarter of 2024.

    3.   Shareholders’ equity

    At 31 March 2025, Group shareholders’ equity stood at €2,234.0m, up €40.4m or +1.8% (€2,193.6m at 31 December 2024).

    This increase is mainly due to positive net income of €62.1m and an FX effect.

    The annualised return on average tangible equity (RoATE) was 12.7% at 31 March 2025, down from the previous year, in line with the decline in net income.

    4.   Outlook

    Uncertainty about international economic policy is reaching a rarely seen levels. The United States announced the implementation of massive tariffs which vary depending on industrial sector and the imports’ country of origin. Implementation has been delayed in most cases to allow time for negotiations.

    Estimates of the long-term impact will have to wait until the tariffs actually implemented are more stable. In the short term, this uncertainty is delaying investment decisions and detracting from economic growth.

    This unprecedented complex environment validates the strategy and positioning adopted by Coface, which draws on its internationally recognised experts and industry leading data to support its clients as effectively as possible as the situation evolves. In the short term, Coface has stepped up communication with its clients and maintained its prevention actions at a high level, while continuing to invest in line with the Power the Core strategic plan. The workforce dedicated to services (Business Information and Debt Collection) currently stands at nearly 700 people.

    Conference call for financial analysts

    Coface’s Q1-2025 results will be discussed with financial analysts during the conference call on Monday 5 May at 18:00 (Paris time). Dial one of the following numbers:

    The presentation will be available (in English only) at the following address:
    http://www.coface.com/Investors/financial-results-and-reports

    Appendices

    Quarterly results

    Income statement items in €m
    Quarterly figures    		 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25   % %
    ex. FX*
    Insurance revenue 378.6 375.6 375.9 382.7 382.9   +1.1% +1.2%
    Other revenue 85.0 83.4 78.0 85.5 90.3   +6.2% +5.5%
    REVENUE 463.7 459.1 453.8 468.3 473.2   +2.1% +2.0%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 100.3 94.7 88.8 84.9 85.4   (14.9)% (15.4)%
    Investment income, net of management expenses, excluding finance costs 17.9 22.8 19.0 31.9 10.4   (42.0)% (44.2)%
    Insurance Finance Expenses (11.4) (6.7) (7.3) (17.1) (4.1)   (63.6)% (61.6)%
    CURRENT OPERATING INCOME 106.8 110.9 100.5 99.7 91.6   (14.2)% (15.3)%
    Other operating income / expenses (0.1) (0.5) (2.6) (5.5) (0.4)   438.8% 439.8%
    OPERATING INCOME 106.8 110.4 97.9 94.2 91.2   (14.5)% (15.6)%
    NET INCOME (GROUP SHARE) 68.4 73.8 65.4 53.4 62.1   (9.2)% (10.5)%
    Income tax rate 27.2% 26.8% 25.5% 36.2% 23.0%   (4.2) ppt

    Cumulated results

    Income statement items in €m
    Cumulated figures    		 Q1-24 H1-24 9M-24 2024 Q1-25   % %
    ex. FX*
    Insurance revenue 378.6 754.3 1,130.2 1,512.9 382.9   +1.1% +1.2%
    Other revenue 85.0 168.5 246.4 331.9 90.3   +6.2% +5.5%
    REVENUE 463.7 922.7 1,376.6 1,844.8 473.2   +2.1% +2.0%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 100.3 195.0 283.8 368.7 85.4   (14.9)% (15.4)%
    Investment income, net of management expenses, excluding finance costs 17.9 40.8 59.8 91.7 10.4   (42.0)% (44.2)%
    Insurance Finance Expenses (11.4) (18.1) (25.4) (42.5) (4.1)   (63.6)% (61.6)%
    CURRENT OPERATING INCOME 106.8 217.7 318.2 417.9 91.6   (14.2)% (15.3)%
    Other operating income / expenses (0.1) (0.5) (3.1) (8.6) (0.4)   438.8% 439.8%
    OPERATING INCOME 106.8 217.2 315.1 409.2 91.2   (14.5)% (15.6)%
    NET INCOME (GROUP SHARE) 68.4 142.3 207.7 261.1 62.1   (9.2)% (10.5)%
    Income tax rate 27.2% 27.0% 26.5% 28.7% 23.0%   (4.2) ppt  

    * Also excludes scope impact

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    Annual General Shareholders’ Meeting: 14 May 2025
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2024 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

    Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is quoted in Compartment A of Euronext Paris
    Code ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2024 Universal Registration Document filed with AMF on 5 April 2024 under the number D.25-0227 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    1 Return on average tangible equity
    2 Also excludes scope impact
    3 Book yield calculated on the average of the investment portfolio excluding non-consolidated subsidiaries.

    Attachment

    The MIL Network –

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    • Autoplay and Max Bet: Autoplay automates spins, and Max Bet maximizes wagers for online slots for real cash wins.

    Slot Developers Behind the Best Online Slots

    Top developers create the best slots to play online for real money:

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    • NetEnt: Renowned for Starburst, providing high-quality online casino slots real money experiences.
    • Microgaming: Offers progressive jackpots like Mega Moolah for slots win real money.
    • Evoplay: Develops Goddess of the Night, blending unique themes with solid payouts (Evoplay).

    Real Money Slots with the Best RTP for Big Wins at JACKBIT

    RTP (Return to Player) measures the percentage of wagered money a slot returns over time. Higher RTPs suggest better long-term returns:

    Big Bass Bonanza

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    • Volatility: High
    • Max Win: 2,100×

    Gates of Olympus

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    • Volatility: High
    • Max Win: 5,000×

    Sweet Bonanza

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    • Volatility: High
    • Max Win: 21,175×

    Book of Dead

    • RTP: 96.21%
    • Volatility: High
    • Max Win: 5,000×

    Sugar Rush

    • RTP: 96.50%
    • Volatility: High
    • Max Win: 5,000×

    Goddess of the Night

    • RTP: 95.97%
    • Volatility: Medium
    • Max Win: 2,803×

    High RTP slots like Big Bass Bonanza offer consistent returns, while medium/low RTP slots (Goddess of the Night) may provide bigger, less frequent wins. Choose based on your risk preference for online slots for real cash.

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    Conclusion: Why JACKBIT is Ranked as the Best Online Slots Game Providing Casino

    The best slots to play online for real money in 2025, such as Big Bass Bonanza, Gates of Olympus, and Book of Dead, offer thrilling gameplay, high RTPs, and substantial win potential. These real money slot games combine engaging themes, innovative features, and the chance for big payouts, making them ideal for online casino slots real money players.

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    FAQ: Best Slots to Play Online for Real Money

    What are the best slots to play online for real money?
    Games like Big Bass Bonanza, Gates of Olympus, and Sweet Bonanza offer high RTPs and exciting features for real money wins.

    Can I win real money playing online slots?
    Yes, online slots that pay real money at licensed casinos like JACKBIT can yield real cash through wins and jackpots.

    What is the RTP of popular slot games?
    Book of Dead has a 96.21% RTP, Sweet Bonanza 96.49%, and Big Bass Bonanza 96.71%, indicating solid returns.

    Are online slots rigged?
    Licensed casinos like JACKBIT use RNGs to ensure fair casino slots real money gameplay, certified by independent auditors.

    How do I get started playing slots for real money?
    Sign up at JACKBIT, deposit funds via PayID or crypto, choose a slot, set your bet, and spin for slots win real money.

    Email: support@jackbit.com

    Disclaimer
    This content is for informational purposes only and should not be taken as legal or financial advice. Information is based on research available at the time of writing—please verify independently before making decisions.

    Gambling Warning
    Online gambling involves risk and may not suit everyone. Ensure you’re of legal gambling age and comply with local laws. Participation is your responsibility. We are not affiliated with JACKBIT and are not liable for any disputes, losses, or issues that may arise.

    Affiliate Note
    Some links may be affiliate links, meaning we may earn a commission—at no extra cost to you. Our recommendations are unbiased, but we urge you to do your research before signing up.

    A photo accompanying this announcement is available at:
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    The MIL Network –

  • MIL-OSI: Best Online Casinos Australia: 7Bit Casino Rated as Top Real Money Casino 2025

    Source: GlobeNewswire (MIL-OSI)

    PERTH, Australia, May 05, 2025 (GLOBE NEWSWIRE) — The online gambling scene in Australia is booming, with a surge in players seeking the thrill of real money online casino Australia platforms. However, the abundance of options makes choosing the best online casino in Australia a challenge. Our team of experts meticulously evaluated hundreds of Australian gambling sites, assessing factors like licensing, security, game variety, bonuses, payout speeds, and customer support.

    After rigorous testing, 7Bit Casino emerged as the clear leader, earning its place as the best Australian online casino for 2025.

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    This comprehensive review explores why 7Bit Casino is ranked as the top online casino in Australia, detailing its standout features, bonuses, games, payment methods, and commitment to responsible gambling. Whether you’re spinning the best payout online slots or strategizing at live dealer tables, 7Bit ensures a seamless Aussie online casino experience tailored for Australian players.

    A Closer Look at the Best Online Casino Australia: 7Bit Casino

    7Bit Casino has solidified its position as the best online casino in Australia through a decade of excellence in online gambling. Operating under a Curacao eGaming license, it provides a secure and regulated environment, making it a trusted Australian real money casino. The platform’s support for cryptocurrencies, including Bitcoin and Ethereum, enables instant withdrawal of casino transactions, a key draw for players seeking fast payout online casino services.

    With over 10,000 games from top providers like NetEnt, Microgaming, and Evolution Gaming, 7Bit caters to every gaming preference, from slots to live dealer experiences. Its no-KYC policy for crypto users ensures privacy, aligning with the preferences of Australian players who value anonymity. The mobile-optimized platform and 24/7 multilingual support further enhance its appeal as a top online casino destination.

    7Bit Casino – Our Favorite Aussie Online Casino

    7Bit Casino stands out as our favorite Aussie online casino due to its exceptional blend of features tailored for Australian players. The website’s intuitive design ensures easy navigation, allowing players to quickly access games, promotions, and banking options. This user-friendly interface is complemented by a vibrant, modern aesthetic that enhances the gaming experience.

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    Cons:

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    How to Join 7Bit Casino – The Best Online Casino Australia

    Joining 7Bit Casino, the best online casino Australia, is a simple process designed for Australian players:

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    How We Selected 7Bit as the Best Online Casino in Australia

    Selecting the best online casino Australia for 2025 required an exhaustive and methodical evaluation process to guarantee a safe, rewarding, and enjoyable experience for Australian players.

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    Best Online Casino Australia Games at 7Bit Casino

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    Online Slots

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    Best Australian Online Casino Payment Methods

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    Responsible Gambling at Australian Online Casinos

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    7Bit Casino Conclusion: The Best Australian Online Casino

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    Frequently Asked Questions

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    Email: support@7bitcasino.com

    Legal Disclaimer

    This content is for informational purposes only and does not constitute legal, financial, or gambling advice. Information is presented “as is,” without warranties. Readers must verify compliance with Australian gambling laws, including the Interactive Gambling Act 2001. The publisher is not liable for losses or consequences.

    Affiliate Disclosure

    Some links may be affiliate links, earning a commission at no cost to you. Recommendations are objective, and partnerships do not influence content.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d15e5bd0-3ba6-4e0c-9081-1afdc84c22b4

    The MIL Network –

  • MIL-Evening Report: Caitlin Johnstone: It was never about hostages. It was never about Hamas

    Report by Dr David Robie – Café Pacific. –

    COMMENTARY: By Caitlin Johnstone

    Benjamin Netanyahu said last Thursday that freeing the Israeli hostages in Gaza was not his top priority, suggesting instead that defeating Hamas should take precedence over a hostage deal.

    “We have many objectives, many goals in this war,” Netanyahu said. “We want to bring back all of our hostages. That is a very important goal. In war, there is a supreme objective. And that supreme objective is victory over our enemies. And that is what we will achieve.”

    Nothing the prime minister said here is true or valid  —  unless by “enemies” he means “all Palestinians in the Gaza Strip”.

    Netanyahu has been fairly transparent about the fact that Israel’s ultimate goal in Gaza is neither freeing the hostages nor defeating Hamas, but seizing Palestinian territory and removing its Palestinian inhabitants.

    He has openly said that Israel will occupy Gaza via military force, completely ruling out the possibility of any form of Palestinian government for the enclave. He has openly said he wants to enact President Donald Trump’s ethnic cleansing plan for Gaza, which explicitly entails removing “all” Palestinians and never allowing them to return.


    It was never about hostages . . .                Video: Caitlin Johnstone

    So they’ve made this perfectly clear. This isn’t about Hamas, except insofar as an armed resistance group will make it difficult to forcibly remove all Palestinians from Gaza. And it certainly isn’t about hostages.

    And yet, bizarrely, this is how the Western political-media class continues to frame this onslaught. They call it Israel’s “war with Hamas”, when it’s nothing other than an undisguised ethnic cleansing operation.

    They prattle on about “October 7, hostages, and terrorism”, even though it has already been made abundantly clear that this has nothing to do with any of those things. They act as though the admission was simply never made.

    There is absolutely no excuse for continuing to babble about hostages and Hamas after the US and Israel said the goal is the complete ethnic cleansing of Gaza. They told you what this is really about. They said it. With their face holes. They said it right to you. End of debate.

    Israel has been seeking ways to purge Gaza of Palestinians for generations. That’s all this has ever been about. Not October 7. Not hostages. Not Hamas. Not terrorism.

    Everything about Israel’s operations in Gaza have indicated that their real goal is to remove Palestinians from a Palestinian territory and not to free hostages or defeat Hamas. And then when Trump took office, they started openly admitting it.

    How is this not the whole entire conversation every time Gaza comes up? How is this not the beginning, middle and end of every single discussion?

    This is like a cop looking right into someone’s phone camera while strangling a black man to death and saying “I am killing this man because I am racist and I want to kill black people,” and then afterward everyone’s still saying “resisting arrest” and “we don’t know what happened before the video started recording”.

    He said what he was doing and what his motives were with his own mouth.

    You don’t get to babble about Hamas, October 7 or hostages in defence of Israel’s actions in Gaza anymore. That is not a thing. If you want to defend Israel’s actions in Gaza, the sole topic of conversation is whether or not it’s okay to forcibly purge an entire population from their historic homeland by systematically bombing, shooting and starving them while destroying their civilian infrastructure, solely because of their ethnicity.

    That is what the discussion is about. Not anything else. That and that only.

    Caitlin Johnstone is an Australian independent journalist and poet. Her articles include The UN Torture Report On Assange Is An Indictment Of Our Entire Society. She publishes a website and Caitlin’s Newsletter. This article is republished with permission.

    This article was first published on Café Pacific.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Lessons from the fashion industry: Why some DEI efforts fail to resonate with consumers

    Source: The Conversation – Canada – By Jordan Foster, Postdoctoral Research Fellow, Sociology, McMaster University

    United States President Donald Trump and his administration have set their sights on the “tyranny of so-called diversity, equity and inclusion policies,” firing federal staff and purging public institutions like the Smithsonian of their commitments to racial history.

    Although many of Trump’s executive orders have focused on the federal government, some firms and private businesses have followed suit, rolling back their own commitments to DEI. For example, META and Amazon cut back their DEI efforts while some major retailers have severed ties with Black-owned businesses.

    Figures located within the fashion and beauty industry have also floundered in their commitments to DEI, investing in brief and uneven surges in racial representation on the runway and the inclusion of older models, trans models and models with disabilities.

    Industry leaders like Teen Vogue positioned models with disabilities on its cover, while brands like Aerie and Victoria Secret invested in more varied representations of beauty in their advertisements. Others however, took steps forward, then back.

    In 2021, we wrote about Victoria’s Secret’s efforts, arguing that the brand had learned that diversity sells. At the time, we noted how brands were encouraging one another to join the “inclusion revolution” — a movement Victoria’s Secret abandoned soon after.

    Had we got it wrong? We weren’t the only ones with questions.

    Backtracking on DEI?

    In 2023, British columnist Barbara Ellen noted: “For some gloaters, this is confirmation of ‘go woke, go broke,’ but the truth could be more complicated.” She went on to ask: “Is it really wokery that has scuppered Victoria’s Secret’s empowerment reboot, or is this more a corporate cautionary tale about the perils of ‘faking it?’”

    That same year, Vogue reported on the myriad ways “fashion backtracked on diversity,” drawing attention to “growing fatigue” surrounding DEI initiatives and what many perceived as insincere and performative gestures made in the name of diversity and inclusion.

    Since then, some within the fashion and beauty landscape have held firm to their commitments, while others have reneged on their promise to reflect on and represent consumer diversity. Why?

    In our ongoing work examining the rise (and fall?) of DEI in fashion and beauty, we’ve collected survey data from those who work inside the industry as well as everyday consumers.

    In looking at our data, we’ve found that certainly, some consumers do not support DEI efforts. These tend to be people who generally express attitudes aligned with those of the current U.S government.

    But we also found many more individuals who broadly like the idea of increased diversity in fashion and beauty. Sure, they expressed their fair share of skepticism toward brands that are overly “performative” in their demonstrations, but most want to see diverse figures and faces who look like them.

    Some brands may abandon DEI efforts, but we venture to guess that more brands will either continue on and stay quiet about their efforts for now, or reimagine their campaigns in the months and years to come.

    What could these campaigns look like? And what can brands do to insulate their efforts from attack?

    Capturing diversity and inclusion

    In our recently published study, we discuss the challenges that accompany DEI within the beauty industry, particularly focusing on how DEI efforts are evolving amid longstanding barriers.

    We focused on the beauty brands Benefit Cosmetics, Sephora and Dove, which have all made strides by featuring models with disabilities, racialized models and fuller-figured models in their online campaigns.

    While these advertising campaigns had their merits, we also noticed a significant under-representation of some forms of diversity in advertisements and campaign images. For example, models above the age of 55 and models with a visible disability were almost completely absent from representations of beauty online.

    Additionally, images were often altered to remove visible differences around race and disability or they were featured in ways that minimized markers of difference. This editing tends to hide what makes these individuals unique — the aspects of their appearance that may challenge society’s standard views of beauty.



    Read more:
    Fake models for fast fashion? What AI clones mean for our jobs — and our identities

    Savvy consumers are well-attuned to and perceptive of what they view in both traditional and online media, often questioning whether a brand’s DEI efforts are meaningful or purely profit-driven. They ask, for example, whether brands are simply capitalizing on current societal trends and critique companies they feel do not go far enough in promoting real inclusivity.

    The brands that do invest in what appear to be sincere and authentic strives toward diversity and inclusivity see returns, outperforming their market competitors while courting new consumers. Those who divest from DEI efforts, or act uncritically, risk losing their market share.

    What next?

    What can fashion and beauty brands do in response? For one, they can invest in sustained and consistent efforts to showcase diversity and inclusion. They can recruit models who embody differences across a range of markers and characteristics, and they can spend less time editing and “perfecting” the figures and faces they select from.

    Yet, diversity and inclusion needs to move beyond representation and toward more varied product formulations, shade ranges and accessible beauty tools.

    While there may be folks who continue to be critical of DEI campaigns because they think brands bought into being “woke” (and now are paying a price for it), many more are eager for greater and better representation.

    Consumers remain critical of insincere or superficial efforts, asking for real engagement with matters of diversity and inclusion. This includes representations that break the mould and push the boundaries surrounding who is (and isn’t) considered beautiful.

    This also means that if we want to know about why diversity and inclusion “fails,” we can’t just focus on those who are “anti-woke” nor should we focus solely on Trump’s politics.

    To safeguard against retrenchment, we need to understand why diversity and inclusion campaigns cease to resonate with those consumers who support DEI. Without their support, inclusion and diversity efforts lose legitimacy making them more susceptible to reversal.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Lessons from the fashion industry: Why some DEI efforts fail to resonate with consumers – https://theconversation.com/lessons-from-the-fashion-industry-why-some-dei-efforts-fail-to-resonate-with-consumers-255091

    MIL OSI – Global Reports –

  • MIL-OSI Europe: Ambassador Gerard McGurk assumes duties as new Head of OSCE Mission in Kosovo

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Ambassador Gerard McGurk assumes duties as new Head of OSCE Mission in Kosovo

    Ambassador Gerard McGurk of United Kingdom, Head of the OSCE Mission in Kosovo. Prishtinë/Priština, 5 May 2025. (OSCE/Leurina Mehmeti ) Photo details

    PRISHTINË/PRIŠTINA, 05 May 2025 – Ambassador Gerard McGurk, a career member of the British Diplomatic Service, has been appointed as the new Head of the OSCE Mission in Kosovo and has officially assumed his duties today.
    Ambassador McGurk’s previous diplomatic experience includes extensive engagement in crisis management, bilateral and multilateral international relations across a variety of regions, from Madrid, Amman, and Skopje to the United Nations in New York. Ambassador McGurk was part of the British Government’s Final Status Team related to the work of UN Special Envoy Martti Ahtisaari (2005-2007).
    “These experiences have shaped my approach to diplomacy, focusing on inclusive dialogue, partnership, respect and collaboration. These are virtues that are deeply rooted in OSCE’s work here. As the new Head of Mission, I am committed to building on the outstanding work of my predecessors in fulfilling the Mission’s core mandate to improve good governance, protect and promote human and community rights, and enhance public safety for all,” Ambassador McGurk said.
    Ambassador McGurk’s previous roles include Deputy Director and Head of the Security and Resilience Department in the Foreign, Commonwealth and Development Office (FCDO) and Deputy Director of Network and Performance.
    He led the Consular Pillar in the Afghanistan Task Force in London, playing a critical role in crisis leadership during the high-profile international Kabul evacuation in August-September 2021. He was part of the UK Mission to the United Nations in New York as the UK Government’s representative to the Iraq and Al-Qaida Sanctions Committees. He deployed to Iraq to work with the Coalition Provisional Authority (CPA) in the summer of 2003. His first overseas assignment was at the British Embassy in Athens, Greece, in 1991.
    Ambassador McGurk holds a Master’s in Business Administration (MBA) from the Open University in the UK. Apart from his mother tongue, English, he speaks Macedonian and some Spanish. He is married with two adult children.
    In his role as the Head of the OSCE Mission in Kosovo, he succeeds Ambassador Michael Davenport of the United Kingdom.
    For more information on his biography, click here: https://www.osce.org/node/590342

    MIL OSI Europe News –

  • MIL-OSI United Nations: UNFPA Warns of Devastating Impact of Funding Cuts on Midwife Support in Crisis-Hit Countries

    Source: United Nations Population Fund

    NEW YORK, NY, 05 May, 2025 – Severe funding cuts are forcing UNFPA, the United Nations sexual and reproductive health agency, to dramatically scale back its support for midwives in crisis settings, jeopardizing the health and lives of pregnant women and newborns in some of the most fragile places on earth.

    In eight crisis-hit countries alone, UNFPA will only be able to fund 47% of the 3,521 midwives it intended to support in 2025. These include:

    Number of midwives UNFPA will be able to support out of the original target: 

    • Afghanistan: 565 out 974 midwives 
    • Bangladesh (Rohingya response): 241 out of 288 midwives 
    • Cameroon:  17 out of 49 midwives 
    • Central African Republic: Zero out of 22 midwives 
    • Mali: 88 out of 133 midwives 
    • Palestine:  63 out of 93 midwives 
    • Sudan: Zero out of 470 midwives
    • Yemen: 700 out of 1492 midwives 

    UNFPA’s midwifery support is also being cut back in Chad, Nigeria, Madagascar and Somalia due to US funding cuts. 

    “Midwives save lives. They come to the rescue in the direst of circumstances. When crisis strikes and health systems are shattered, they are a lifeline for pregnant women who have lost access to vital maternity services,” said Dr. Natalia Kanem, Executive Director of UNFPA.

    UNFPA’s support to midwives serving in humanitarian settings includes training, providing supplies and equipment; and in some cases a means of transport so they can operate mobile health clinics even in remote, dangerous areas. From delivering babies to supporting survivors of rape, midwives can deliver 90 percent of essential sexual, reproductive, maternal, and newborn health services. When these services are cut, the consequences are enormous. In Afghanistan alone, loss of support for 409 midwives will cut access to skilled care for an estimated half a million women. 

    Births do not stop in crises. But when crises cut pregnant women off from reproductive health care and emergency obstetric services, the risks skyrocket. Women are twice as likely to die in pregnancy or childbirth in crisis settings. 

    To help address this crisis and to ensure the availability of adequate well trained midwives in all settings, UNFPA and partners recently launched the Global Midwifery Accelerator, a coordinated initiative to scale up midwife-led care in countries with the highest maternal mortality rates and greatest needs. The Accelerator sets out a cost-effective roadmap to save lives and strengthen national health systems,  even in the most fragile contexts, and is already harnessing support from donors, but much more is needed.

    “Cutting funding for humanitarian midwifery services puts women and their babies in harm’s way,” said Dr Natalia Kanem. “We cannot fail midwives; we need to find ways to support their essential work.”

    About UNFPA:

    UNFPA is the United Nations sexual and reproductive health agency. Our mission is to deliver a world where every pregnancy is wanted, every childbirth is safe and every young person’s potential is fulfilled.

    Media Contact:

    New York, Anna Jefferys Jefferys@unfpa.org or media@unfpa.org

    MIL OSI United Nations News –

  • MIL-OSI Global: Pope Francis encouraged Christian-Muslim dialogue and helped break down stereotypes

    Source: The Conversation – USA – By Craig Considine, Senior Lecturer in Sociology, Rice University

    Tributes being paid to Pope Francis at the Sacred Heart Cathedral Church in Lahore, Pakistan, on April 22, 2025. AP Photo/K.M. Chaudary

    Pope Francis’ pontificate marked a distinct shift in the Catholic Church’s engagement with the Muslim world. While his predecessors fostered dialogue and tolerance, Francis sought more active engagement with Muslims, particularly in the Middle East.

    Francis framed his efforts around the “culture of encounter,” which he explained in a 2016 morning meditation. Drawing inspiration from the Gospel of Luke, Chapter 7, he noted that this approach was about “active engagement” rather than passive observation. He urged individuals to embody Jesus by “not just seeing, but looking; not just hearing, but listening; not just passing people by, but stopping with them.”

    In my 2025 book “Beyond Dialogue – Building Bonds Between Christians and Muslims,” I stress the importance of moving beyond mere tolerance to collaboration as a way to engage with religious diversity − something that Francis demonstrated in his interfaith dialogue efforts with Muslim countries.

    Francis in Iraq after IS destruction

    In 2021, Francis visited regions in Iraq once held by the Islamic State, or IS. This was the first papal visit to the country. He held masses in Irbil, the capital of the Kurdistan region of Iraq, and he addressed a gathering in the courtyard of the Al-Tahera church, the hub of the Syriac Catholic population in Mosul. The historic 18th-century church was partially destroyed by IS during its occupation of the city from 2014 to 2017. An estimated 5,000 Christians were killed and some 125,000 displaced in Iraq during that time.

    Iraqis put up a poster with Pope Francis and Grand Ayatollah Ali al-Sistani, the leader of Iraqi Shiite Muslims, in Najaf, Iraq, on March 4, 2021.
    AP Photo/Anmar Khalil

    At Church Square in Mosul, where there are four churches, Francis prayed for the victims of the conflict and called for harmonious coexistence between Christians and Muslims. He also invited displaced Christians to return to their homes and praised the young Iraqi volunteers – both Christians and Muslims – working side by side to rebuild the churches and mosques destroyed by IS.

    In addition, he convened an interreligious gathering in Ur, the birthplace of Abraham, a prophet revered by Jews, Christians and Muslims.

    His actions not only brought together Christians and Muslims but also helped break down stereotypes.

    The year of tolerance

    In 2019 he visited the United Arab Emirates, marking the first papal visit to the Arabian Peninsula, the birthplace of Islam. The visit coincided with the Emirati government proclaiming 2019 the Year of Tolerance, promoting coexistence, diversity and respect.

    During his visit in Abu Dhabi in 2019, Francis celebrated a historic Catholic Mass in Zayed Sports City, drawing 180,000 attendees from over 100 countries, for which the UAE government declared a special holiday.

    This unprecedented event challenged negative Western stereotypes about the Arabian Peninsula’s religious intolerance. The UAE Constitution, for example, guarantees religious freedom to all people, albeit with restrictions on proselytization among non-Islamic communities. It also offered a counternarrative of unity between Christians and Muslims in a region often viewed through a lens of religious strife and war.

    Francis’ visit to the UAE also culminated in some crucial interfaith initiatives. In Abu Dhabi, Francis and the Grand Imam of Al-Azhar University, Ahmed El-Tayeb, cosigned the document on Human Fraternity for World Peace and Living Together. The document stresses the need to work together to promote a “culture of reciprocal respect.” While the Emirati president, Sheikh Mohammed bin Zayed Al Nahyan, did not directly sign the document, he supported the interfaith initiatives that followed Francis’ trip.

    This document led to the setting up of the Higher Committee of Human Fraternity, a collaborative project of a diverse groups of academic, cultural and religious leaders and entities from around the world. The committee created the Human Fraternity Education and Leadership for Peace program, a global youth movement. It also worked with the United Nations General Assembly to designate Feb. 4 as the International Day of Human Fraternity.

    The Higher Committee of Human Fraternity also guided the construction of the Abrahamic Family House in Abu Dhabi, a shared space for a church, mosque and synagogue that opened in 2023.

    I had the opportunity to attend the opening ceremony of the Abrahamic Family House in 2023. It was a memorable experience. A Christian girl, a Muslim boy and Jewish boy each brought a cube representing each house of worship to the center platform of the forum and placed them side by side on the ground. The simple act mirrored the architectural design of the Abrahamic Family House by bringing the abstract concept of interfaith harmony to life in a concrete and relatable way. The Emirati youth provided a glimpse into what a tolerant future could look like.

    History of Catholic-Muslim relations

    The closest historical comparison to the Document on Human Fraternity is the Nostra Aetate, a declaration from the Second Vatican Council of 1965, when major reforms were initiated in the Catholic Church.

    Nostra Aetate marked a turning point in the Catholic Church’s relations with Islam and all non-Christian traditions. After a history of conflict, limited positive engagement and mutual suspicion, it emphasized harmony, dialogue and respect with Islam.

    However, the Document on Human Fraternity went further. For starters, it was a joint declaration with prominent Muslim leaders, signifying a deeper commitment to Christian-Muslim partnership, whereas Nostra Aetate was an internal Catholic document. The document called for grassroot activities, pointing to a more action-oriented approach to Christian and Muslim relations. Given that it was signed by the pope, it held influence within the Vatican leadership and among liberal cardinals. Its core principles are being integrated into pastoral initiatives and interreligious dialogue at the national and international levels.

    Francis’ approach to Christian-Muslim dialogue differed notably from his predecessors. While Pope John Paul II focused on intellectual exchange and theological dialogue, Francis emphasized that they were insufficient on their own. In turn, he prioritized direct action and personal engagement with others as a means to a deeper understanding of the other.

    Pope Benedict XVI, despite his commitment to dialogue, faced challenges due to remarks that outraged Muslims worldwide. During his Regensburg address in 2006, he mentioned a medieval dialogue attributed to Manuel II Palaiologus, the Byzantine emperor who reigned from 1391 to 1425, a period of growing power of the Ottoman Empire. Manuel II had criticized the concept of jihad in Islam and referred to Muhammad, the prophet of Islam, as “evil” and “inhuman.” While Benedict repeatedly emphasized that he was quoting Manuel II’s views on the relationship between faith and reason and not personally endorsing the emperor’s assessment of Islam, the pope’s comments were perceived as disrespectful toward the Islamic faith and its prophet.

    Upon Francis’ death, the president of the UAE – Sheikh Mohammed bin Zayed Al Nahyan – described him as “a symbol of human fraternity, cultural coexistence and interfaith dialogue,” adding that he inspired “future generations in upholding the values of tolerance and mutual understanding.”

    Francis’ gestures of solidarity, personal relationships and frequent visits to Muslim countries, I believe, laid a tangible foundation to move beyond dialogue and toward human fraternity.

    Craig Considine 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. Pope Francis encouraged Christian-Muslim dialogue and helped break down stereotypes – https://theconversation.com/pope-francis-encouraged-christian-muslim-dialogue-and-helped-break-down-stereotypes-255193

    MIL OSI – Global Reports –

  • MIL-OSI Global: National security advisers manage decision-making as advocates or honest brokers

    Source: The Conversation – USA – By Gregory F. Treverton, Professor of Practice in International Relations, USC Dornsife College of Letters, Arts and Sciences

    Mike Waltz speaks with reporters in the press room at the White House on Feb. 20, 2025. AP Photo/Alex Brandon

    The removal of Mike Waltz as President Donald Trump’s national security adviser – formally the assistant to the president for national security affairs – raises the question of just what that position entails and also what it means that Marco Rubio will now act as secretary of state and national security adviser.

    The National Security Act of 1947 created the National Security Council to advise the president on matters of national security. It’s also tasked with integrating domestic, foreign and military policies.

    But the national security adviser position is neither enshrined in law nor accountable to Congress.

    I’m an economist and international relations scholar who has worked with three national security advisers − Zbigniew Brzezinski, Samuel “Sandy” Berger and Susan Rice.

    I’ve seen the job up close. The core of the national security adviser’s role is managing the national security decision-making process, as decisions on issues from Ukraine to Gaza to nuclear proliferation are made. It’s a coordinating role.

    Honest broker

    National security advisers set the timing and flow of policy analysis and recommendations to the National Security Council committees − first, the principals committee, which brings together the Cabinet secretaries with national security responsibilities from the State Department, Department of Defense, the CIA and others.

    While the principals committee typically rarely meets and virtually never with the president in the chair, not so the deputies committee. That committee brings together the Nos. 2 and 3 in the same departments.

    In my most recent stint in Washington as chair of the National Intelligence Council in the Obama administration, the deputies committee met almost every day, sometimes more than once. Its formal role is to tee up issues for decision by the principals and the president.

    National security advisers have the advantage of proximity to the president, with an office footsteps from the Oval, as it is known in Washington lingo. They also manage a relatively lean staff.

    In my time on the National Security Council staff in the Carter administration, it was perhaps 150 all told, including the watch officers in the White House Situation Room. In the Biden administration it was on the order of 350 staff.

    For us National Security Council staffers, if we disagreed with our counterparts at the State Department or the Defense Department, we could let the principals decide. We knew that we could get to Brzezinski faster, for example, than they could get to their Cabinet secretaries.

    National security adviser Susan Rice walks with Fang Changlong, vice chairman of the Central Military Commission, in Beijing, in September 2014.
    AP Photo/Wang Zhao

    In Washington, proximity is opportunity. And, not surprisingly, national security advisers since McGeorge Bundy in the John F. Kennedy and Lyndon B. Johnson administrations have become central figures in the foreign policy arena. The have had to manage the balance between seeking to influence the president and remaining an honest broker.

    As Berger put it, “You have to be perceived by your colleagues as an honest representative of their viewpoint, or the system breaks down.”

    Managing the tension

    National security advisers have managed the tension in their roles in different ways. And two models of those roles have emerged.

    Henry Kissinger, who served Presidents Richard Nixon and Gerald Ford, was a powerful strategist driving presidential policy, often bypassing traditional channels. He, like Secretary of State Marco Rubio will do, served a dual role from 1973 to 1975 as national security adviser and secretary of state. Condoleezza Rice, the national security adviser who served George W. Bush, also later became secretary of state.

    Brent Scowcroft, who served both Ford and President George H. W. Bush, is the exemplar of the other model − an “honest broker” ensuring a fair, collegial policy process. He was the consummate insider: low-key, meticulous about process and influencing through quiet proximity. The Bush administration he served was also, as described by a friend, as collegial as the men’s locker room of an upscale country club. Still, while I never had the chance to work with him, he is my standard for the role of national security adviser.

    Waltz served too briefly to evaluate his record. It’s ironic that what seems to have done him in was the Signalgate scandal, in which Waltz added a journalist to a Signal group chat in which government officials discussed details about a planned U.S. military strike in Yemen.

    That was an example of Waltz’s coordinating role, bringing most of the relevant policy officials together to discuss an important issue. The purpose was right, but the means was extremely unwise.

    Henry Kissinger shakes hands with Chinese Premier Chou En-lai in Peking, China, in July 1971.
    AP Photo/White House

    Learning from the past

    Historically, the worst crisis of the National Security Council system ensued when it sought to conduct operations, not just organize them. That was the case in the Iran-Contra affair of the Reagan administration.

    Robert McFarlane took over as national security adviser in October 1983. A former Marine officer and deputy national security adviser, he was conscientious to a fault: In one meeting while he was consulting during the transition from President George H. W. Bush to President Bill Clinton, we asked him about work hours. He replied: “They’re not bad. I’m out of here by eight most nights, earlier on Sunday.”

    He was done in by Iran-Contra, a clandestine effort run by the National Security Council to trade arms to Iran − then under a U.S. arms embargo − in hopes of freeing American hostages, with proceeds diverted to fund the Nicaraguan Contras, despite a congressional ban on funding them. He pleaded guilty in 1988 to withholding information from Congress.

    It’s a telling lesson for Rubio and other Waltz successors as the national security adviser of the dangers of moving from honest broker and quiet advocate to operator − especially if the operation is contrary to public U.S. policy and perhaps against the law.

    This story is part of a series of profiles of Cabinet and high-level administration positions.

    Gregory F. Treverton 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. National security advisers manage decision-making as advocates or honest brokers – https://theconversation.com/national-security-advisers-manage-decision-making-as-advocates-or-honest-brokers-255760

    MIL OSI – Global Reports –