NewzIntel.com

Category: Politics

  • MIL-OSI USA: Senator Marshall and Rep. Nehls Reintroduce Bill to Support Families of Victims Killed by Illegal Aliens

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall

    Washington – U.S. Senator Roger Marshall, M.D. (R-Kansas) today reintroduced the Justice for Angel Families Act, legislation that would amend the Crime Victims Fund (CVF) to expand financial coverage for Angel Families – the immediate relatives of victims killed by illegal aliens, including in drunk driving accidents. This legislation would allow federal funds to cover medical expenses, lost wages, and funeral costs, easing the financial burden on grieving families.
    Additionally, the bill would codify the Victims of Immigration Crime Engagement (VOICE) Office at the Department of Homeland Security (DHS), originally established by President Trump in 2017 and recently reopened last month by the Trump Administration after the Biden Administration shuttered it. The VOICE Office provides critical services like grief counseling and case follow-ups for victims’ families. This bill would ensure the VOICE Office can never be shut down again.
    “President Trump is righting the catastrophic wrongs of the Biden-Harris Administration by restoring law and order, securing our borders, and putting an end to the lawlessness that plagued our nation for too long,” said Senator Marshall. “But for countless Angel Families, the damage is permanent – their loved ones were taken from them because of disastrous open-border policies. I urge my colleagues to join Congressman Nehls and me in delivering justice and ensuring these families receive the resources and support they deserve by passing the Justice for Angel Families Act.”
    U.S. Representative Troy Nehls (R-Texas-22) introduced the House companion version of this bill. Cosponsors in the House include Representatives Paul Gosar (R-Arizona-09), Don Bacon (R-Nebraska-02), Randy Weber (R-Texas-14), Lance Gooden (R-Texas-05), Barry Moore (R-Alabama-01), Tom Tiffany (R-Wisconsin-07), and Brian Babin (R-Texas-36). 
    “President Trump and his administration are restoring law and order and standing up for American citizens,” said Congressman Nehls. “Millions of illegal aliens flooded our country during the Biden Administration, and many of them took the lives of Americans, such as Jocelyn Nungaray, Laken Riley, and Rachel Morin. By codifying the VOICE Office, which was reopened last month by Secretary Noem, no future president can close the office again, ensuring that families that fall victim to illegal alien crimes are supported, not left behind.”
    The legislation is co-sponsored by U.S. Senators Ted Budd (R-North Carolina), Kevin Cramer (R-North Dakota), and Bill Cassidy (R-Louisiana).
    “Under the Biden administration’s watch our country faced record levels of illegal immigration that resulted in innocent American lives lost,” said Senator Budd. “Our nation’s Angel Families have faced unimaginable tragedies because of Joe Biden’s senseless open-border policies. Now, we must stand with them – giving them the support and justice they deserve.”
    “Families of victims murdered by illegal immigrants are forced to face unimaginable grief,” said Senator Cramer. “This bicameral bill supports Angel Families by ensuring they have the help and resources they need.”
    The legislation is also supported by Advocates for Victims of Illegal Alien Crime, NumbersUSA, and National Immigration Center for Enforcement (NICE).
    “As a nation, we spend hundreds of billions of dollars supporting illegal aliens who have no right to be in our country. Yet the victims of crimes committed by illegal aliens are left to fend for themselves at the worst times in their lives,” said Don Rosenberg, President and Treasurer of Advocates for Victims of Illegal Alien Crime. “Financial compensation will never replace the loss of a loved one, but the “Justice for Angel Families Act” will at least reduce the financial burden faced by those families who have been betrayed by the failure of some in our government to uphold the rule of law.”
    “It’s a shame that our past open border policies have made it necessary and needed to pass legislation to aid Angel families who suffered loss at the hands of illegal immigrants,” said Michael Hough, Director of Federal Government Relations at NumbersUSA. “This legislation will rightfully help those families who have lost their loved ones.”
    “To support angel families – American citizens permanently separated from loved ones due to illegal alien crime – President Trump relaunched the Victims of Immigrant Crime Engagement (VOICE) office,” said RJ Hauman, President of the National Immigration Center for Enforcement (NICE). “Now fully operational again, VOICE is assisting thousands of angel families, connecting them to vital services like grief counseling, tracking their cases, and ensuring criminal aliens responsible for their suffering are arrested, detained, and removed. This stands in stark contrast to the previous administration, which dismantled VOICE, opened our borders, and neglected angel families while policies led to more tragic losses. With Republicans now leading Congress, angel families are no longer ignored. Congressman Nehls and Senator Marshall are championing the Justice for Angel Families Act, reaffirming that their highest duty is to American citizens. This bill honors angel families, ensures their loved ones’ deaths were not in vain, and strengthens our nation’s safety and security. NICE urges everyone to support the Justice for Angel Families Act and calls on Congress to pass it after ICE receives critical resources via reconciliation.”
    The full text of the legislation can be found here.

    MIL OSI USA News –

  • MIL-OSI USA: Representative Peters, Food Providers Urge Congress to Support USDA Funds that Feed Hungry Americans

    Source: United States House of Representatives – Congressman Scott Peters (52nd District of California)

    San Diego, CA – Yesterday, Representative Scott Peters (CA-50) and local leaders opposed proposed cuts to United States Department of Agriculture (USDA) food assistance programs, including Supplemental Nutrition Assistance Program (SNAP), Local Food Purchase Assistance (LFPA) and Local Food for Schools (LFS). They also shared the harm that funding cuts to these programs would have on hungry people in our community. San Diego food banks distributed over 900,000 pounds of food purchased from local farms through the USDA programs that Republicans will cut in their budget proposal. 

    “Nobody in America should be forced to go to bed with an empty stomach,” said Rep. Peters. “USDA food assistance programs help feed San Diegans in need, and they’re a win-win-win for our communities, food banks, and farmers. The Republican budget proposal would cut $230 billion from agricultural and nutritional programs. I will continue to do everything in my power to protect these critical programs and stop any effort to hurt our farmers and take food away from our children.”

    Rep. Peters brought together local farmers, school nutrition providers, food assistance program providers, and local elected officials to emphasize how proposals to cut food assistance funding would devastate our local schools, farmers, and families.

    “We need the help on the federal side to take the politics out of food insecurity,” said Bob Kamensky, CEO of Feeding San Diego. “With bipartisan support, we can demonstrate what Americans have always pulled together for, and that is compassion for people who are facing needs.”

    ‘Every day, our School Nutrition professionals at San Marcos Unified School District serve 15,000 breakfasts, lunches, and suppers,” said Naomi Shadwell, Executive Director of San Marcos Unified Child Nutrition Services. “For many students, these are the most nourishing, balanced meals they’ll eat all day. We’re calling on leaders at every level – local, state, and federal – to protect the links between programs like SNAP, Medicaid, and school nutrition.”

    “The Local Food Purchase Assistance Cooperative Agreement Program (LFPA) has been pivotal in the economic growth of our small farms,” said Byron Nkhoma, Co-Founder of Hukama Produce. “We have been able to reinvest into infrastructure that has helped increase our production to meet the high demand for high quality locally grown food. The program is critical in the survival and developments of small farms.

    “These cuts are not just numbers on a federal spreadsheet—they would be devastating to real families here in San Diego County and especially in my city of Escondido,” said Deputy Mayor Consuelo Martinez. “A thriving and safe community depends on making sure our families are fed. Supporting farmers and those who feed us requires our investment and support.  We all eat; we need stronger support systems—not weaker ones.”

    Rep. Peters believes it is in America’s interest to ensure that every child and family has access to nutritional food. He has consistently voted to increase funding for SNAP and for legislation that supports local farmers. He has urged his Republican colleagues not to enact a budget that would increase inflation and balloon our deficit, while cutting programs Americans rely on to put food on the table just to pay for tax cuts for people and corporations who don’t need them. Rep. Peters will continue to hold Republicans accountable and ensure every American knows the true cost of their budget proposal.

    A livestreamed recording of the press conference can be found here.

    Additional photos from the event are available courtesy of Rep. Peters’ office here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Introducing House Roll Call Votes in the Congress.gov API

    Source: US Global Legal Monitor

    The following is a guest post from Andrew Reiter, a legislative data specialist in the Congressional Research Service (CRS) of the Library of Congress. Andrew previously blogged about an Update on the Congress.gov API, Modernizing Congressional Data – Treaty Documents on Congress.gov, Modernizing Congressional Data – Senate Legislation and Amendments on Congress.gov, and Modernizing Congressional Data – House Legislation and Amendments on Congress.gov.

    Today, in partnership with the Office of the Clerk of the U.S. House of Representatives, we are thrilled to announce that beta House Roll Call Votes endpoints are now available from the Congress.gov API.

    In this first iteration, the beta House Roll Call Votes endpoints cover all votes associated with legislation dating from 2023 (118th Congress). Endpoints include a list-level and item-level, along with a member votes-level, which shows how each member of the House of Representatives voted on a particular piece of legislation.

    When calling the member votes-level endpoint, users will get information on how each member of the House of Representatives voted. This information includes the BioGuide ID number used across several legislative platforms, including the Biographical Directory of the United States Congress and Congress.gov.

    The next phase of the House Roll Call Votes beta API endpoints project will include making non-legislation-related votes available in the API, dating from 2023 (118th Congress). These include votes such as the election of the Speaker of the House of Representatives. As with all Congress.gov products, we have also worked to provide documentation about the API. In this case, there are documentation, user guides, a change log that details changes to the API, and opportunities for feedback. As a reminder, to use the API, you must first get an API key.

    The Congress.gov API covers all Congress.gov collections, including bills, amendments, summaries, congressional dates, members, the Congressional Record, committee materials, nominations, treaties, and House and Senate Communications.

    We are thrilled to share this exciting development with the Congress.gov user community. Be sure to join us for the next Congressional Data Task Force meeting on June 10, 2025, to learn more about the new beta House Roll Call Votes API endpoints.

    Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

    MIL OSI USA News –

  • MIL-Evening Report: In Indonesia, Albanese has a chance to reset a relationship held back by anxiety and misperceptions

    Source: The Conversation (Au and NZ) – By Hangga Fathana, Assistant Professor of International Relations, Universitas Islam Indonesia (UII) Yogyakarta

    Prime Minister Anthony Albanese has wasted little time taking his first overseas trip since Labor won a historic victory in Australia’s federal election. He’ll head to Indonesia today to meet the country’s new president, Prabowo Subianto.

    With both nations entering new political chapters, the visit carries symbolic weight. But it will also have practical importance.

    Despite the two nations’ proximity and strengths, the relationship has often been held back by outdated perceptions and strategic hesitation. This is a timely opportunity to reset the relationship.

    Prabowo’s emerging foreign policy

    Prabowo succeeded outgoing President Joko “Jokowi” Widodo in October after a decade of his infrastructure-driven and globally engaged leadership.

    Prabowo, a former army general and defence minister, had projected a populist and nationalist image during his 2024 election campaign. He frequently emphasised Indonesia’s food self-sufficiency, military strength and national sovereignty.

    Since taking office, however, he has moderated his tone. While seen by some in the West as assertive, he has signalled a willingness to strengthen bilateral defence ties with Australia. He also has an interest in modernising Indonesia’s military and engaging more transparently with partners.

    Still, questions remain about how he will shape Indonesia’s foreign policy. This includes whether he will maintain Jokowi’s emphasis on multilateralism and economic diplomacy. Both are key to the tone and outcomes of Albanese’s visit.

    Prabowo’s leadership style is nuanced. Despite his polarising image, Indonesia’s foreign policy is still shaped by pragmatism and non-alignment. As such, Prabowo will likely focus on balancing relations with China, the United States and Russia, while protecting Indonesia’s sovereignty.

    Indonesia’s decision to join BRICS, the economic group that includes both China and Russia, for example, should be seen as a diplomatic hedge, not a new geopolitical alignment.

    Other recent decisions, such as providing aid to Fiji, suggest an increasingly outward-facing regional posture.

    Albanese should offer Prabowo credible alternatives to Russian and Chinese engagement through trade, technology and education exchanges, rather than reacting to Jakarta’s moves with suspicion.

    Opportunities for cooperation

    In his election campaign, Albanese reaffirmed his government’s commitment to working closely with Southeast Asia. He also promised a foreign policy grounded in diplomacy, climate cooperation and economic diversification.

    This provides a strong incentive for both leaders to deepen ties. For Australia, deepening ties with Indonesia supports its Indo-Pacific strategy. The goal: promoting a stable and inclusive regional order, particularly amid concerns over growing strategic competition between the US and China.

    For Indonesia, Australia offers investment, education partnerships, and critical expertise in clean energy and innovation.

    A free-trade agreement signed in 2019 provides a platform for deeper integration and less competition in certain industries.

    For example, there are huge opportunities to collaborate in clean energy, particularly after the neighbours signed a climate partnership last year. The agreement will secure supplies of lithium for Indonesia’s EV battery production, while Australia will gain more export markets for its critical minerals.

    People-to-people ties are also vital, while education remains a longstanding pillar of the bilateral relationship.

    Both countries face skills shortages in key sectors. Indonesia needs skilled workers in health care, clean technology and digital literacy. Australia has shortages in critical infrastructure, aged care and engineering.

    There are good opportunities here for student exchanges, joint employment training programs and other vocational collaborations.

    New Australian university campuses in Indonesia are a positive step, but they remain commercially focused and concentrated in elite, urban areas. With over 4,000 universities across the archipelago, these partnerships could go much further.

    Where tensions might arise

    The relationship is not without friction. Australia’s involvement in the AUKUS agreement, and its close alignment with the United States and United Kingdom, has raised concerns for Indonesia, which has long championed non-alignment.

    Jakarta has voiced unease over the perceived risks of nuclear submarine proliferation in the region.

    Albanese’s visit is a key opportunity to clarify that AUKUS involves nuclear-powered — not nuclear-armed — submarines. He should also reinforce Australia’s commitment to transparency over the deal. This is essential to avoiding misunderstandings and building trust.

    A more recent flashpoint is speculation around a possible Russian military presence in Indonesia — a claim the Indonesian government has firmly denied.

    Indonesia’s response exemplifies its longstanding commitment to strategic autonomy. However, the whole ordeal reveals the complexity of Jakarta’s foreign relations, which often involve balancing ties with competing powers.

    For Australia, acknowledging Indonesia’s independent foreign policy — rather than interpreting it through a great-power rivalry lens — is critical to sustaining mutual trust.

    A chance to re-anchor the relationship

    This moment offers both governments the chance to move beyond symbolic gestures toward a deeper, more inclusive and people-centred partnership.

    Amid global fragmentation, trust is not just desirable — it’s essential. And while differences remain, they are not insurmountable when guided by mutual respect, strategic patience and a commitment to genuine cooperation.

    For Australia, the challenge is to move past strategic anxiety and invest in a resilient, multidimensional relationship with Indonesia. This visit could be the first step in doing just that.

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

    – ref. In Indonesia, Albanese has a chance to reset a relationship held back by anxiety and misperceptions – https://theconversation.com/in-indonesia-albanese-has-a-chance-to-reset-a-relationship-held-back-by-anxiety-and-misperceptions-256321

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Nations: Peacekeeping Ministerial: Member States rally behind UN peacekeeping in a time of crisis

    Source: United Nations – Peacekeeping

    “Complex demands and diminishing resources are testing the limits of the current peacekeeping approaches,” warned Johan Wadephul, Germany’s Minister for Foreign Affairs at the 2025 Peacekeeping Ministerial in Berlin today. UN and Member State representatives met to discuss the future of peacekeeping, calling for reforms to strengthen its effectiveness and efficiency.

    The meeting comes as peacekeeping faces mounting challenges: Conflicts worldwide have reached their highest levels since World War II, becoming increasingly complex and dangerous. Member States responsible for setting peacekeeping mandates have become more divided.

    An investment in peace

    Despite the challenges, “every UN peacekeeping [mission] is a good investment,” said Minister Wadephul. “We want UN blue helmets to remain this instrument of peace protecting millions of civilians and monitoring ceasefires.

    Missions have proven effective in preventing violence before it starts, reducing it during conflicts, and preventing its recurrence once conflicts end. Their presence also directly reduces civilian casualties. Peacekeepers have helped many countries achieve durable peace, including Cambodia, Côte d’Ivoire, El Salvador, Liberia, Namibia, Mozambique, Sierra Leone and Timor-Leste.

    Bigger challenges, fewer resources

    Despite its track record, investment in peacekeeping is declining. Currently, just over 70,000 civilian, military and police peacekeepers are working to advance peace in 11 operations globally, serving countries including the Democratic Republic of Congo, Lebanon, and Cyprus. In comparison, the city of Berlin alone has a police force of 26,000.

    Peacekeeping’s current US$5.6 billion budget is roughly half what it was a decade ago. It represents just 0.5% of global military spending.

    This funding comes from all UN Member States, with wealthier countries contributing larger shares. Even for the United States – peacekeeping’s largest donor – their assessed contribution of $1.5 billion makes up just 0.2% of their 2024 defence budget.

    Yet many Member States are behind on their payments, owing a total of $2.7 billion and worsening the funding crisis.

    “It is absolutely essential that all Member States meet their financial obligations by paying their contributions in full and on time,” António Guterres, Secretary-General of the United Nations.

    Adapting to a new reality

    UN officials and Member States called for comprehensive reforms to adapt to these realities.

    Tailoring missions to local contexts, creating more focused mandates, increasing local ownership were suggested as ways peacekeeping missions could strengthen operations. Allowing for a more flexible use of resources was raised as critical to helping missions find efficiencies. There were also impassioned calls for stronger political backing for peacekeeping missions, including from the Security Council.

    “We have political divisions impacting everything we are trying to achieve as a team,” said General Birame Diop, Senegal’s Minister of Armed Forces.

    Making peacekeeping fit for the future

    Today, the message from UN Member States was clear: for the people peacekeepers serve, it is essential to use limited resources as effectively and efficiently as possible, ensuring missions continue their vital work.

    “The value of peacekeeping is undeniable… but there is always more to do,” said Catherine Pollard, UN Under-Secretary-General for management Strategy, Policy and Compliance.

    Discussions will continue tomorrow, with specialized sessions that will look at how these calls for reform can be concretely met.

    MIL OSI United Nations News –

  • MIL-OSI New Zealand: Addressing New Zealand’s infrastructure asset management challenge

    Source: NZ Music Month takes to the streets

    The Government has launched a new work programme to improve public infrastructure asset management, Infrastructure Minister Chris Bishop says.

    “We need to be honest about the fact that we’ve done asset management poorly in the public sector for decades. We rank fourth to last in the OECD for asset management, with a number of government agencies reporting non-compliance with Cabinet expectations relating to depreciation funding, asset management plans and asset registers. The public sector performs poorly compared with the private sector.

    “Poor asset management results in expensive renewals and emergency works, poor infrastructure quality, asset failures, and less funding for new services. The Infrastructure Commission estimates that for every $40 spent on new infrastructure, we should be investing $60 in maintenance and renewals.

    “In practice, years of poor asset management means leaky hospitals and schools, mould in police stations and courthouses, service outages on commuter rail, and poor accommodation for Defence Force personnel and their families. It’s not good enough. New Zealanders deserve better.

    “To ensure we get the most out of every dollar we invest, Cabinet has agreed to an all-of-Government work programme that will improve central government asset management and performance, with a focus on infrastructure. 

    “The objective of the programme is to strengthen the infrastructure system to lift asset performance and service outcomes for New Zealanders, ensure there is adequate investment in planned asset maintenance and renewal activities, ensure new investment decisions can be made within the overall context of agencies’ asset management plans, and improve accountability, capability, and oversight of our infrastructure. 

    The work programme will be broken up into two phases: 

    Phase One (short term improvements), including:

    • Continued work to update to the Better Business Case (BBC) and Gateway frameworks.
    • Self-assessment of New Zealand policy and institutional settings against the IMF Public Investment Management Assessment framework.
    • Improved asset management and long-term planning performance indicators and guidance – providing more detailed guidance on expected asset management and long-term planning practice, including which indicators will provide Ministers, stakeholders and the public with confidence that agencies are delivering value for money.
    • Supporting the growth of a “Community of Practice” to build capability – the Infrastructure Commission is partnering with Āpōpō to build a ‘community of practice’ through collaborative events for public service asset management professionals.
    • A possible national Underground Asset Register – officials are providing advice on opportunities to scale the Wellington City Council underground asset register for use across New Zealand.

    Phase Two (beyond December 2025):

    Phase two will consider more fundamental changes to system settings to ensure that asset management outcomes improve, and will include:

    • The development of the 30-year National Infrastructure Plan (NIP) to ensure greater stability of infrastructure priorities that help New Zealand plan, fund and deliver important infrastructure. As part of their work developing this plan, the Infrastructure Commission will recommend system changes to strengthen investment and asset management outcomes.
    • Investigating legislative requirements for the development of ten-year investment plans by capital intensive agencies and performance reporting requirements.
    • A refresh of the Cabinet Office circular CO (23) 9, to give effect to broader changes across the IMS and restate Cabinet’s expectations on investment planning, assurance, and asset management practices. The refresh of the Circular will be undertaken in parallel with the NIP, to allow the refreshed Circular to take into account the NIP recommendations.

    “The draft 30-year National Infrastructure Plan is expected to be published in June this year and it will then go out for public consultation.

    “I intend to consider proposed recommendations from the Infrastructure Commission as part of the Government’s response to the Plan in 2026.

    “Making improvements to our investment management system will ensure New Zealanders’ infrastructure investments are well-managed. These improvements will enable greater economic growth and deliver efficient infrastructure which will have long-term impacts on the cost-of-living,” Mr Bishop says.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Speech to Apōpō Congress: Addressing New Zealand’s infrastructure asset management challenge

    Source: NZ Music Month takes to the streets

    Good morning. It’s great to be here – in spirit – at the 2025 Apōpō Congress.
    I am a fierce proponent of asset management, and I also enjoy the Te Pae Convention Centre, so it’s a shame I can’t be there with you all in person. 
    I’d like to thank Apōpō for hosting this congress and for keeping the conversation on asset management learnings and best-practice going for over 75 years.
    Better asset management is key to the success of the Government’s plan to go for economic growth and enhance New Zealanders’ quality of life.
    Asset management may not be the sexiest aspect of the infrastructure system – as it has to compete with new, big, and exciting projects – but everyone knows, if you don’t paint the weatherboards on your house, the wood will rot. 
    And billion-dollar infrastructure is fundamentally no different.
    Looking after what we have means our infrastructure will last longer, be more reliable, and be more resilient to shocks and stresses. For me, good asset management is a minimum requirement, not an optional extra.
    So, today I am announcing a comprehensive work programme that Cabinet has agreed to that will improve asset management practice across central government. 
    The aim of this work is to provide safer, longer lasting and more reliable infrastructure services; and to achieve better value for money by making the most of what we have.
    But before I get into that, let me briefly touch on my six infrastructure priorities and where the Government is at on each of them. 
    My six priorities as Minister for Infrastructure
    Last year, I mapped out what I want from the infrastructure system.
    I want the private sector to invest and build here, because they are confident in the pipeline and are enabled to get on with it by an efficient and fair consenting system. 
    And I want the public to enjoy infrastructure that is safe, reliable, accessible, and good value for money. 
    To achieve this, I’m focused on six priorities as Infrastructure Minister:

    Establishing National Infrastructure Funding and Financing Ltd,
    Developing a 30-year National Infrastructure Plan,
    Improving infrastructure funding and financing,
    Improving the consenting framework,
    Improving education and health infrastructure, and last but not least –
    Strengthening asset management.

    These priorities are in response to what the coalition Government has heard from industry and infrastructure experts, both in New Zealand and overseas.
    National Infrastructure Funding and Financing Ltd
    Let’s start with National Infrastructure Funding and Financing, which we call NIFFCo. 
    On the 1st of December last year, we established NIFFCo to:

    Act as the Crown’s ‘shopfront’ to facilitate private sector investment in infrastructure – including receiving and evaluating Market Led Proposals.
    Partner with agencies, and in some cases, local government, on projects involving complex procurement, alternative funding mechanisms, and private finance – including Public Private Partnerships (PPPs).
    Administer central government infrastructure funds.

    NIFFCo has already started lifting the government’s commercial capability and has deployed expertise into agencies that are working on complex Public Private Partnership (PPP) projects including the Northland Road of National Significance and Christchurch Men’s Prison. 
    Off the back of the New Zealand Infrastructure Investment Summit, NIFFCo has also started engaging with domestic and international debt and equity markets to help connect New Zealand projects to suitable capital.
    Developing a 30-year National Infrastructure Plan
    Now, let’s move to my second priority, the 30-year National Infrastructure Plan.
    The industry has asked for a long-term plan and pipeline so that they can invest in people and equipment. We have heard them, it’s the right thing to do, and we are doing it.
    The New Zealand Infrastructure Commission is developing the Plan, which will outline an independent and expert view on New Zealand’s infrastructure needs over the next 30 years, planned investments over the next 10 years, and recommendations on priority projects and reforms that can fill the gap between what we have and what need.
    The draft plan is on track to go out for public consultation next month, with the final plan due to me by the end of this year. 
    I encourage you to provide feedback on the Plan, particularly in the areas of asset management. 
    Improving infrastructure funding and financing 
    Now, let’s talk about my third priority, Improving infrastructure funding and financing. 
    Public infrastructure in New Zealand has historically been primarily funded by taxpayers or ratepayers. 
    But our heavy reliance on this blunt approach is not serving New Zealand well and has led to perverse outcomes including congestion, run-down assets, and the unresponsive provision of enabling infrastructure – contributing to unaffordable housing.
    Last year, we released a suite of new and improved frameworks and guidance including:

    Treasury’s new Funding and Financing framework,
    The Government’s refreshed PPP policy,
    Strategic Leasing Guidance, and
    Guideline for Market Led Proposals. 

    The collective purpose of these documents is to help the Government use its balance sheet more strategically, apply good commercial disciplines to investment, and be a more sophisticated client of infrastructure. 
    This year I have focused on establishing new funding and financing tools. In February, I announced five specific changes to New Zealand’s funding and financing toolkit to make it easier for councils and central government to provide infrastructure to support urban growth. 
    I won’t cover all of these, but the most relevant to people here, is that we are shifting away from Development Contributions to a new Development Levy System that will enable council to fully recover the costs of housing growth from growth.
    This change means ratepayers will no longer need to cross subsidise growth to the same extent (if at all) – freeing up rates to go towards maintenance backlogs. 
    The Government is progressing amendments to the Local Government Act 2002 this year, so that Councils will be able to move to the new Development Levy System through their 2027 Long-Term Plan cycle.
    Improving the consenting framework
    Now, let’s move onto my fourth priority, improving the consenting framework. 
    As many of you will know, the resource management system is broken. 
    It achieves the worst of both worlds: it stifles development and fails to protect the environment. In many ways, our currently planning system is one of the root causes of our infrastructure deficit.
    So, we are taking action. 
    In 2023, we repealed the Natural and Built Environment Act and Spatial Planning Act.
    In 2024, we introduced the Fast Track Approvals Act, which provides a one-stop shop for projects with significant regional and national benefits to apply for and access approvals, resource consents, and permits across nine different Acts, all in the one process.
    The Government listed 149 projects in the Act itself, fast-tracking them in the fast-track process. More projects can be referred into the process too.  
    These 149 projects represent up to 55,000 new homes; 180 kilometres of new road, rail, and public transport routes; three gigawatts in additional generation capacity; and multiple mining and aquaculture projects. 
    And this year, the Government is replacing the entire resource management system – 
    We will put a new system in place that is effects based and embraces standardisation, meaning fewer and faster consents. We plan to have the two Acts introduced to Parliament mid-this year. 
    Improving education and health infrastructure
    I won’t go into too much detail of my, fifth priority, improving education and health infrastructure. I will just quickly say that this government is moving towards: 

    More standardised, repeatable designs,
    More modular and staged builds, and
    More strategic procurement – including by using a panel of contractors and partners for large programmes or packages of work.

    Poor asset management practices 
    Now, let’s talk in detail about my sixth priority – strengthening asset management. 
    I think we need to be honest about the fact that we’ve done asset management poorly in central government for decades.
    Too often we see the result of a lack of care in managing the infrastructure assets entrusted to agencies. 
    I can rattle off too many examples of things gone wrong:

    Schools in Auckland with leaking roofs and rotting buildings;
    Half of justice buildings reported to be in “poor” or “very poor” condition;
    Military homes in Waiouru infested with black mould;
    A police custody suite in Hawke’s Bay with so many leaks that the roof had to be covered with plastic tarpaulin; and
    A hospital in Whangārei where the roof leaked when it rained, the surgical wing was on a lean, raw sewage was found seeping into the walls, and – to top it all off – those walls were riddled with asbestos. 

    This is simply not good enough for New Zealanders. 
    It would be comforting to pretend that these are isolated anecdotes of poor outcomes. And it would be easy to say that “all we need is a bit more funding for emergency repairs to plug some leaks and patch up some roofs”. 
    But this pattern of ‘build and forget’ repeats too often for this to be anything other than a systematic issue. 
    And you don’t need to take my word for it. 
    There is a growing analytical evidence base of unacceptable asset management practice:

    New Zealand ranks fourth to last for asset management in the OECD’s infrastructure survey, and
    Several central government agencies do not comply with mandatory requirements set out by Cabinet as outlined in Cabinet Office circular (23) 9 – including requirements related to depreciation funding, asset management plans, and asset registers.

    The contrast between the performance of central government and that of the private sector, regulated utilities, and even local government is also stark. Let’s use the ratio of annual spending on renewals and maintenance, relative to asset depreciation, as a proxy for asset management performance.
    The private sector and local government have ratios of approximately [1] and [0.75] respectively. 
    For central government agencies, this metric is often impossible to measure, because it isn’t being recorded and reported. And where the data does exist, such as for state highways, the results are significantly worse, with a ratio of [0.35].
    These poor asset management practices are undermining this Government’s infrastructure objectives and contributing to our significant infrastructure deficit – which is expected to grow to around $210 billion by 2050.
    Our maintenance and renewal challenge
    In fact, one of the biggest challenges facing New Zealand’s infrastructure sector is the cost and resources needed to repair and replace assets that are wearing out. 
    The Infrastructure Commission tells me that for every $40 spent on new infrastructure, we should be investing $60 in maintenance and renewals.
    If we don’t prioritise and deliver this spending and sort our asset management practices now, our problems are only going to get bigger. 
    This is driven by three macro trends.
    For one, the amount New Zealand needs to spend on asset management will continue to increase as the assets built during the post-war investment boom of the 1950s to 1990s wear out.
    Second, asset management needs will increase in some sectors as demographics change – for example, more focus will be needed on health facilities as our population ages.
    Third, the risks we face from natural hazards will continue to become more acute. New Zealand already ranks second in the OECD in expected annual losses from natural hazards. And asset owners won’t be able to make informed trade-offs between insurance, relocation, and resilience if they don’t have a strong base of asset management practice to build from – including knowing what they own, where it is, what conditions it’s in, and what risks it faces.
    I feel like I am preaching to the choir – but, as you know – it is important to get asset management right.
    And some sectors do get asset management more right than others. 
    For example, regulated utilities like energy perform well due to economic incentives, and regulatory regimes with strong transparency, oversight and audit requirements.
    Taking a step back – regulated utilities, local government, and central government all have different rules and enforcement mechanisms that impact asset performance, with central government holding the regulated and local government sectors to a higher standard than it does itself.  
    The private sector is characterised by oversight through market discipline, economic regulation, and minimum service quality standards.
    Local government has strong legislative requirements for planning and asset management, supported by audit and transparency requirements. For example, the Local Government Act requires reporting on infrastructure spending by category including maintenance and renewal, which is then audited by the Office of the Auditor General.
    In central government we primarily rely on the requirements set through the Cabinet Office circular on Investment Management and Asset Performance in Departments and Other Entities, or, more commonly known as CO (23) 9. 
    External transparency on central government infrastructure (like age, condition, location, and utilisation) is limited at best, making it difficult for the public to be confident that it is being managed appropriately.
    This is a very complex system to fix. There is no single factor or actor that accounts for why central government is struggling so much to manage its assets effectively. 
    To be clear, it’s not that we don’t have hard-working asset management professionals. Because I know we have some brilliant asset managers doing fantastic work. 
    But too many of you are frustrated by a system that simply isn’t set up to empower you to do what is needed.
    In my view, our asset management performance is the result of four complex inter-related issues. 
    First, central government does not treat asset management as a fundamental component of service delivery. Top-down fiscal constraints, changing service expectations and stakeholder pressures mean that asset management is often de-prioritised in favour of new investment or new operating spending. 
    Second, agencies do not have good enough information on their assets. So, decision-makers like agency officials, and Ministers like me lack the information needed to make good decisions and to be held accountable for them.
    Third, governance is weak. Compared to regulated utilities and local government, our systems, processes, and rules for ensuring that asset management is being carried out properly are not strong enough.
    Fourth, visibility and support for asset management is lacking at senior levels within agencies. Nobody in the audience will be shocked to hear me say that awareness, visibility, and support for asset management is often lacking at senior levels. We simply don’t invest enough in our people. This is true in some parts of the private sector and local government, but it is particularly true in central government. 
    Improving central government asset management 
    So, that’s the doom and gloom part over. Let’s get onto how we plan to fix the system. 
    Today, I am excited to announce that Cabinet has agreed to an all-of-Government work programme that will improve central government asset management and performance, with a focus on infrastructure.
    My goal is to provide safer and more reliable infrastructure services to New Zealanders; and to achieve better value for money by making the most of what we have.
    This work programme will take place across two phases. 
    Phase 1 will roll out this year, delivering quick wins that drive real improvements. But that is just the start. Next year, we start on Phase 2, which will deliver more fundamental changes to how we look after our assets.
    Phase 1
    Let’s start with Phase 1. Phase 1 is about providing clarity on what ‘good’ looks like and ensuring that there are better tools to help central government agencies succeed. 
    The Infrastructure Commission has three actions under Phase 1.
    First, the Commission is assessing New Zealand’s investment and asset management settings for central government using the ‘Public Investment Management Assessment’ (PIMA). This international best-practice framework was developed by the IMF in 2015.
    The Commission will release the PIMA ‘self-assessment’ report alongside the National Infrastructure Plan later this year. It will be an invaluable source of evidence on how we can improve our investment systems – more on that soon.
    Second, the Commission will publish detailed guidance that agencies will need to follow on asset management; long-term planning; and related performance, assurance, and accountability indicators.
    At the moment, Treasury sets out high-level investment management and asset performance requirements for departments, Crown entities, and companies listed in Schedule 4A of the Public Finance Act through Cabinet Office circular CO (23) 9. 
    Over and above Cabinet setting clear rules for asset management it is crucial that we help agencies understand how they meet their obligations. Currently, there is limited detailed guidance showing agencies what good looks like. 
    More detailed guidance can help fill this gap and will help agencies to provide useful and consistent information to decision makers and the public – including indicators that will show whether agencies are delivering value for money from their planning and investment activities.
    Third, the Commission is partnering with Āpōpō to build a new ‘community of practice’ that will lift the capability of public service asset management professionals through events.  
    Phase 1 of this work programme, also includes:

    the Treasury continuing work to update their Better Business Case and Gateway Frameworks, and
    Potentially developing a National Underground Asset Register – Officials will provide me advice on opportunities to scale the Wellington City Council’s  underground asset register for use across New Zealand.

    Phase 2
    Phase 2 is about driving more fundamental changes to system settings to ensure that we see sustained improvements in asset management.
    Phase 2 will be informed by the National Infrastructure Plan but will ultimately be implemented through the Government response to the Plan, which I expect will include changes to the Investment Management System.
    The Commission is currently developing the National Infrastructure Plan to ensure greater stability of infrastructure priorities and to help New Zealand plan, fund, and deliver important infrastructure. 
    The Commission has informed me that the Plan will include recommendations on how to strengthen central government’s Investment Management System.
    The Commission are thinking of issues such as: 

    Strengthening the Public Finance Act to require agencies to periodically develop long-term investment plans (including asset management) and strengthening reporting requirements to increase transparency on spending on maintenance and renewals.
    Strengthening non-legislative reporting requirements to improve transparency over asset management outcomes.
    Establishing oversight and review requirements for asset management planning.
    Explicitly incorporating assessments of bottom-up infrastructure needs, including spending on asset management and renewals, into fiscal strategies
    And strengthening incentives for better asset management practice by, for example, linking investment decision making to agency asset management capability or ringfencing depreciation funding. 

    It is important to note that the National Infrastructure Plan is a ‘strategy report’ and is rightly produced independently from Government. 
    As such, I will consider the final recommendations made by the Commission and will implement Phase 2 of the Asset Management Work Programme through the Government’s response to the Plan in 2026.
    Over the next year, the Treasury is also working to update Cabinet Office circular CO (23) 9. The update of CO (23) 9 is a great opportunity to take on evidence and findings from the National Infrastructure Plan to strengthen Cabinet’s expectations on investment planning, assurance, and asset management practices.
    I have asked Treasury officials to consider the findings of the National Infrastructure Plan when updating the Circular.
    But to be clear, all options remain on the table to improve asset management – including changes to the law. 
    Conclusion
    To conclude, I would like to say thank you again for inviting me to speak. 
    Getting asset management right is one of my top priorities as Minister for Infrastructure, and I will need your help to do it.
    The size of the prize is significant – 
    Improving how we look after our assets will improve the lives of New Zealanders through safer and more resilient infrastructure services. It will drive better value for money from our investments – putting downward pressure on the cost-of-living and freeing up funds for other Government priorities.
    Better asset management is also good for economic growth, as higher-quality infrastructure will reduce disruptions, encourage investment, and improve productivity.
    It won’t be a quick fix.
    The challenges we face are deep-rooted and systemic. But they are not insurmountable, if we ambitious enough to take them on, and disciplined enough to overcome them. 
    Thank you. 

    MIL OSI New Zealand News –

  • MIL-OSI Submissions: Australia – Brat to business: Gen Z and Millennials turn bold ideas into business start-ups – CBA

    Source: COmmonwealth Bank of Australia – CBA

    New data shows Millennials and Gen Z continue to be the driving force behind new business in Australia, as CommBank shows support for young entrepreneurs through its sponsorship of AFC Australian Fashion Week.

    New CommBank research shows that Millennials and Gen Z business owners continue to drive Australian entrepreneurship, together accounting for 62 per cent of new business account openings in the last 12 months, with retail trade, personal and business services, and construction being the most popular sectors for these age groups.

    CommBank data shows that Millennials alone made up 49 per cent of new businesses in the year to 31 March 2025, while Gen Z accounted for 13 per cent, Gen X for 27 per cent and Baby Boomers made up 10 per cent of new businesses.

    Looking at Gen Z, retail trade is the second most popular sector for new businesses after construction, while Millennials favour property and business services before construction and retail.

    While the age breakdown of new business transaction account openings has remained fairly steady since the pandemic, it is likely the Gen Z cohort will grow in the coming years as they get older, and other age groups focus on the growth stage of their business.

    The research comes as CommBank announces its sponsorship of the Australian Fashion Council (AFC) Australian Fashion Week which kicked off in Sydney this week, championing young entrepreneurs, First Nations designers, and the Australian creative industry more broadly.

    CommBank Small Business Banking Executive General Manager, Rebecca Warren, said the various headwinds businesses had encountered over recent years did not appear to be dissuading too many younger entrepreneurs.

    “Gen Z and Millennials account for 72 per cent of all new businesses in retail trade, showing younger Australians are willing to pursue their passion despite the challenging environment this sector has faced and continues to tackle,” Ms Warren said.

    “Australian small businesses have dealt with many challenges over the last few years, and their resilience has never been more evident than in the way they’ve been navigating the challenging market, the impacts of the election, tariffs and changes to rates.

    “It is great to see the entrepreneurial spirit in Australia is very much alive, with under 45s continuing to lead on new business start-ups. We are proud to be supporting Australian small business owners achieve their goals, whether they’re just starting out, or growing their business.”

    Recent data from CommBank’s Household Spending Insights Index^ also shows significant gains in Household Goods spending in the year to March were driven by online marketplace and department stores, followed by clothing and furniture stores.

    This year the AFC Australian Fashion Week will have over 30 designers showcasing their collections, including Aje, Romance Was Born, ESSE, Farage, Lee Mathews, NICOL & FORD, and Carla Zampatti. CommBank will be the presenting partner of The Frontier, and First Nations shows Liandra, Ngali, and Joseph & James.

    Kellie Hush, CEO AFC Australian Fashion Week presented by Shark Beauty, said:

    “We are thrilled to have the Commonwealth Bank’s incredible support in 2025. CBA understands how important it is to nurture small and medium businesses in the early stages of growth. The business of fashion continues to be an exciting but challenging industry, which is why Australian Fashion Week must continue to grow and support the industry. AFC Australian Fashion Week 2025 will showcase a diverse, creative, and a distinctly Australian fashion spirit.

    “The fashion industry is also a major employer of women in Australia, with 77 per cent of our industry being women. The figure makes fashion one of the few professional industries dominated by women, providing opportunity for them to flourish and finesse their specialisations.”

     

    ^CommBank Household Spending Insights (HSI) Index for March 2025, released on 11 April 2025. Full report can be accessed here: https://www.commbankresearch.com.au/apex/researcharticleviewv2?id=a0NDo000000wJLh

    Note about the research: Figures in this media release are based on CommBank Business Transaction Account openings between 1 April 2024 and 31 March 2025. The term Gen Z refers to those born between 1997 and 2012; Millennial refers to individuals born between 1981 and 1996; Gen X refers to those born between 1965 and 1980; Baby Boomer refers to those born between 1946 – 1964.

    MIL OSI – Submitted News –

  • MIL-OSI USA: Cantwell Condemns GOP’s Cruel Proposal to Kick Millions Off Medicaid: ‘You’re Going to Make All Those People Go to An Emergency Room?’

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    05.13.25
    Cantwell Condemns GOP’s Cruel Proposal to Kick Millions Off Medicaid: ‘You’re Going to Make All Those People Go to An Emergency Room?’
    GOP proposal would cancel health coverage and drive-up co-pays for hundreds of thousands of Washingtonians
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, delivered a speech on the Senate floor condemning the House GOP’s ill-conceived proposal to cut health care by $715 billion to help pay for a tax break for the ultra-rich and corporations, forcing at least 13.7 million Americans off their health insurance.
    “House Republicans say that these cuts are about waste, fraud, and abuse — but the real fraud is telling the American people that by implementing these requirements, that somehow these policies are going to save money. The truth is, it’s just making it harder on Americans to stay on Medicaid,” Sen. Cantwell said.
    “In 2018 Arkansas tried the same thing that the House of Representatives are now suggesting. They became the first state to establish a work requirement for certain Medicaid enrollees. It took just four months, and the new requirement got 18,000 people kicked off Medicaid. Where do you think those people go? You think they don’t have any health care needs? You don’t think they go to the hospital and cost us all a bunch load more money?” she continued.
    “So I ask my colleagues to make sure that we are fighting these cuts to Medicaid. Our communities are demanding it. They are watching.”
    Video of her speech is available HERE and a full transcript is HERE.
    On Sunday, the Republican leadership of the U.S. House of Representatives released a draft proposal to cut $912 billion from the Energy and Commerce Committee budget — the committee that oversees Medicaid, the federal program that insures many low-income adults and children, pregnant people, seniors, and people with disabilities. Their proposal would institute new co-pays and onerous work requirements, ultimately blocking access to health care for the people who need it most.
    Medicaid, also known as Apple Health in Washington state, covers 1.9 million Washingtonians. On May 2, Sen. Cantwell released a snapshot report highlighting the impact that Medicaid cuts would have on Washington state’s highly-ranked long-term care system for seniors and people with disabilities. In February, she additionally released a snapshot report that demonstrated how cuts would harm health care access in Washington state, and followed up with a report in March that dove into impacts on the Puget Sound region.
    Highlights of those snapshot reports include:
    In Washington state, WA-04 (Central Washington) and WA-05 (Eastern Washington) have the highest proportions of adults and total population on Medicaid (Apple Health). In District 4, 70% of children are on Medicaid.
    In the Puget Sound, children in Seattle’s blue-collar strongholds would feel the deepest pain from Medicaid cuts. More than half of children in Burien, SeaTac, Kent, Federal Way, Auburn, Renton, and Rainier Valley depend on Medicaid.
    In an exclusive new survey of 68 WA nursing homes, 67 of 68 would cut services if Medicaid were cut by 5% or more, and 65% would consider closing.
    Over the past two months, Sen. Cantwell also took a tour around the state to hear from folks who would be directly impacted by cuts to Medicare. Doctors, patients, and health care providers in Seattle, Spokane, the Tri-Cities, and Wenatchee warned that such cuts would devastate Washington state’s health care system and limit access to lifesaving care.
    Last week, a coalition of Washington state hospital leaders and Republican elected officials sent a letter opposing any cuts to Medicaid. The group included the CEOs of Skyline Health and Klickitat Valley Hospital, as well as multiple Republican members of the Washington state legislature, leaders of Klickitat County, and councilmembers of White Salmon and Goldendale. The letter emphasized that hospitals in rural areas are especially reliant on Medicaid, and any funding reductions would result in loss of services or even hospital closures. The letter warned, “Any reduction in funding from any source will undoubtedly result in a reduction of services, reduction of access or worse – hospital closures,” and further that “Policy decisions that put a community’s access to healthcare in jeopardy are a sure way to hasten the demise of rural Washington State.”  

    MIL OSI USA News –

  • MIL-OSI USA: Murphy On Trump’s Middle East Trip: This Isn’t America First. This Is Trump First. It’s A National Security Disaster And A Moral Abomination.

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy
    [embedded content]
    WASHINGTON—U.S. Senator Chris Murphy (D-Conn.) on Tuesday spoke on the U.S. Senate floor to deliver a blistering condemnation of President Trump’s foreign policy corruption, highlighting his use of the office to enrich himself while putting U.S. national security at risk. Murphy called out Trump’s brazen willingness to accept luxury gifts and bribes from foreign governments like Saudi Arabia, Qatar, and the UAE, blasting the president for openly prioritizing his own profits over the well-being of American families and calling for bipartisan action to confront these abuses of power.
    “Usually, public corruption happens in secret,” said Murphy. “The politicians that do it, they know it’s wrong to accept money in exchange for favorable government treatment, and so they hide it – until they’re found out.”
    He continued: “The key difference is that Donald Trump isn’t hiding it like other corrupt officials are. He’s not ashamed, he’s not doing it in secret. His corruption is wildly public, and his hope is that by doing it publicly, he can con the American people into thinking that it’s not corruption because he’s not hiding it. But what he’s doing, in reality, is no different than any other corrupt public official who does it in private, other than the fact that Trump’s corruption, his foreign policy corruption, is just so much bigger in scope and the impact that it has on the American people than anything a corrupt mayor or a corrupt governor may have done. Trump’s first major foreign trip–and he just landed–is to Saudi Arabia, Qatar, and the UAE; not because these are our most important allies in the world; not because these are the most important countries in the world; not because he’s going there to talk about making the Middle East more safe and more secure. No, his first trip is to these three countries because these are the three countries that have agreed to pay Donald Trump money. Donald Trump is going to collect tribute, and it’s all just out in the open.”
    Murphy laid out the price of doing business with the Trump administration: “So let’s ask, what is the going rate right now for a Gulf country to buy access to Donald Trump? To get favorable treatment from the federal government? For Qatar, we recently found out, it’s a $400 million luxury plane. This plane has been opulently configured for royal use. It’s not a gift to the U.S. government – it’s a personal gift to the president. The terms of the arrangement apparently include a stipulation that after Trump leaves office, it will be transferred to Trump, to his presidential library – which means Trump gets the so-called ‘floating palace’ for himself…For Saudi Arabia, the price is also in the billions. Soon after leaving the White House, in Trump’s first term, his son-in-law Jared Kushner created a private equity firm and got a $2 billion investment from Saudi Arabia. The board of the Saudi sovereign wealth fund questioned such a large investment in an unproven fund, but the Saudi Crown Prince overruled the board, undoubtedly seeing the political advantage of investing directly with the Trump family…For the UAE, the price is somewhere north of $2 billion.”
    “Well, the most simple way to think about this is that if the guy that you elected to protect us and make our lives better is spending most of his time alternating between playing golf and cutting deals for himself, he’s not protecting you. He’s not spending any time trying to lower costs or defeat our enemies. Corruption, it can be a full-time job for Donald Trump, and that’s a pretty lousy deal for the American people,” Murphy added. “But more importantly, when our foreign policy is for sale, we are less safe. Let me give you an example relative to the trip that Donald Trump is on right now. These countries aren’t padding Donald Trump’s pockets because they like him. They are paying him in order to get things from the federal government, from the U.S. government, without having to make any actual policy concessions that would benefit the U.S. people. 
    Murphy called on Republicans and Democrats to unite, vowing to block arms sales linked to corrupt deals and push legislation to stop politicians from profiting off crypto: “We can look the other way, or we can join together, Republicans and Democrats, to stand up for this country and do something about it. I’ve joined with Senators Schatz and Coons and Booker to introduce a resolution condemning the acceptance of the plane. It’s a blatant violation of the Emoluments Clause. We could stand together as a Senate to vote for that resolution. I’ve introduced legislation to make it illegal for presidents or members of Congress and their family members to profit off of crypto coins while they hold federal office.  We could join together in that effort. I will personally seek to block any arms sale that is announced as part of this trip with a country that is personally investing in Donald Trump and his family. I will force a full Senate debate and a vote on these sales. Foreign leaders need to know there will be a price for participating in the corruption of the American presidency.”
    Murphy tore into Trump’s corruption, calling it a national security sellout and a slap in the face to working families: “This level of corruption is so gross that even Trump’s most hardened MAGA sycophants are turning against him. I didn’t think I’d see the day, but people like Ben Shapiro and Laura Loomer, who fawn over Trump, can’t believe he is so crass as to think that it’s ok to accept planes as a gift in exchange for U.S. national security concessions. This isn’t America First. This is not what he promised the American people. This is Trump First. He is willing to put our nation’s security at risk, take unconstitutional bribes, just so he can fly himself and his Mar-a-Lago golf buddies around the world in gold plated luxury planes gifted to him by foreign governments. All while at the same time, he tells Americans that they should be okay buying fewer school supplies for their kids, or fewer birthday presents for their grandchildren, because he is driving prices up for non-billionaires in this country. All while at the same time he is kicking 13 million people off of their health care. Trump lines his pockets, he corrupts our foreign policy to enrich himself, while driving up prices and stealing health care from average Americans. It’s a national security disaster and it’s a moral abomination.”
    A full transcript of his remarks can be found below:
    MURPHY: “Usually, public corruption happens in secret. The politicians that do it, they know it’s wrong to accept money in exchange for favorable government treatment, and so they hide it – until they’re found out.
    “A textbook example would be Louisiana Governor Edwin Edwards, who in the 1990’s was quietly taking bribes from businessmen who wanted to get licenses for riverboat casinos. In the late 1990’s, Edwards was convicted for the crimes of extortion, racketeering, and money laundering. The way in which he was doing it was like out of a movie– in one instance, a businessman handed the Governor a suitcase full of $100 bills – totaling $400,000 – all in order to get a 6-0 commission ruling in favor of this casino. Eventually, as with most all corrupt officials who are taking money privately, Edwards was discovered. He was disgraced, and he went to jail.
    “As we speak, our president, Donald Trump, is going to the Middle East on a public corruption tour. He’s no less corrupt than Edwin Edwards of Louisiana. In fact, he’s way more corrupt. Edwin Edwards took $400,000, while in the Middle East, Donald Trump will cement deals totaling in the billions in exchange for favorable treatment by the U.S. federal government for these Gulf countries. 
    “The key difference is that Donald Trump isn’t hiding it like other corrupt officials are. He’s not ashamed, he’s not doing it in secret. His corruption is wildly public, and his hope is that by doing it publicly, he can con the American people into thinking that it’s not corruption because he’s not hiding it. But what he’s doing, in reality, is no different than any other corrupt public official who does it in private, other than the fact that Trump’s corruption, his foreign policy corruption, is just so much bigger in scope and the impact that it has on the American people than anything a corrupt mayor or a corrupt governor may have done. 
    “Trump’s first major foreign trip–and he just landed–is to Saudi Arabia, Qatar, and the UAE; not because these are our most important allies in the world; not because these are the most important countries in the world; not because he’s going there to talk about making the Middle East more safe and more secure. No, his first trip is to these three countries because these are the three countries that have agreed to pay Donald Trump money. Donald Trump is going to collect tribute, and it’s all just out in the open.
    “Frankly, it’s pretty easy to see this coming. Recent former presidents – Republicans and Democrats – have always very seriously and studiously avoided even the appearance of a conflict of interest. President Bush placed his assets into a qualified blind trust, where investment decisions were made without his knowledge or input. Both Biden and Obama divested all of their assets except for cash and mutual funds. They did not enter into any new business ventures while in the White House. 
    “In contrast, Trump has refused to abide by these standard ethics rules. His family runs his business, but nobody honestly believes that the kids are really in charge. President Trump is still calling the shots. His interests are not in a blind trust. He’s made no pledge he won’t do new deals, even with foreign entities, while he’s in office. In fact, he is doing deals seemingly every single week. He is open for business, and every foreign government knows it. 
    “In fact, it appears that right now the Gulf states are trying to outdo each other to up the price of buying an American President. And because Trump is greedy and he’s insecure – he wants to fit in with the billionaire class – he is traveling to the region with his hat out for further solicitations.
    “So let’s ask, what is the going rate right now for a Gulf country to buy access to Donald Trump? To get favorable treatment from the federal government?
    “For Qatar, we recently found out, it’s a $400 million luxury plane. This plane has been opulently configured for royal use. It’s not a gift to the U.S. government – it’s a personal gift to the president. The terms of the arrangement apparently include a stipulation that after Trump leaves office, it will be transferred to Trump, to his presidential library – which means Trump gets the so-called ‘floating palace’ for himself. 
    “This is outrageous. We’ve never seen anything like this before in American history– a foreign government gifting a $400 million luxury plane to the President of the United States. This is spelled out as blatantly unconstitutional by our Founding Fathers. They wrote into the Constitution a specific clause, the emoluments clause, which prohibits federal officeholders from accepting gifts from any King, Prince, or foreign state without the consent of Congress. How much clearer could it be? It’s unconstitutional. It’s illegal. The Founding Father knew it was evil to have members of Congress or the President of the United States accepting expensive gifts from a foreign nation who in exchange want favors from the US government. Donald Trump’s acceptance of the luxury plane from a foreign monarch is basically THE corruption our Founding fathers were seeking to prevent.
    “That’s not all he’s getting from Qatar. The Trump Organization recently signed a $5.5 billion golf course and real estate deal with DarGlobal and Qatari Diar, a firm established by Qatar’s sovereign wealth fund. $5.5 billion. While Trump’s in office.
    “It would have been unthinkable for any previous president to enter into a $5.5 billion dollar business deal with anybody, nevermind a foreign government, while they were in office. And it still should be unthinkable. 
    “Now, Qatar is a U.S. ally It’s a very important ally. But they are a complicated country. They have their own interests, some of which do not overlap with ours. A foreign government like Qatar’s should not have a $5 billion chit hanging over the head of a sitting U.S. president, and they should not be gifting him a $400 million plane. That should kind of go without saying.
    “For Saudi Arabia, the price is also in the billions. Soon after leaving the White House, in Trump’s first term, his son-in-law Jared Kushner created a private equity firm and got a $2 billion investment from Saudi Arabia. The board of the Saudi sovereign wealth fund questioned such a large investment in an unproven fund, but the Saudi Crown Prince overruled the board, undoubtedly seeing the political advantage of investing directly with the Trump family.
    “But this was only the beginning. The Trump family has put things into overdrive during his second term. Within his first three weeks in office, Trump convened a meeting at the White House with the head of the Saudi sovereign wealth fund – not to discuss matters of state, but to negotiate a deal between the PGA and the Saudi-backed LIV golf tour. You want to know why? To try to bring PGA tournaments back to Trump golf courses. Convened a meeting in the White House with the Saudis in order to enrich himself.
    “In addition to the $5 billion Qatari real estate deal, the Trump Organization is also partnering with Saudi firm [Dar Global] on a $1 billion Trump-branded hotel and tower in Dubai. The property’s website–this is a Trump-financed property along with a Saudi investment fund offers free 10-year “golden visas,” to the United States, hinting at the opportunity for investors in Trump’s property to buy residency in the United States and a pathway to citizenship.
    “For the UAE, the price is somewhere north of $2 billion. Last week, Eric Trump and World Liberty Financial co-founder Zach Witkoff spoke at a conference in Dubai on crypto called Token 2049. 
    “As an aside here, it’s just so fantastic – and bone chilling – how transparent these guys are in their use of public positions to enrich themselves. I’m going to tell the story of Trump stablecoin and the corruption with the Emiratis, but let’s just pause for a second and consider the fact that the Trump family could have partnered with anybody in the world on their new crypto venture, World Liberty Financial. But of all the people in the world to partner with on this new crypto venture, they chose the son of Trump’s Middle East envoy. Trump’s Middle East envoy, the guy who’s making all the decisions on U.S. policy in the Middle East – just to make it crystal crystal clear to the Gulf countries that when they deal with World Liberty Financial, Trump’s crypto venture, they are dealing directly with the people responsible for making U.S. policy in the Middle East. It’s just stunning. Literally the sons of the president and the sons of the Middle East envoy running a crypto venture and then going directly into the Middle East in order to find their first investment. And guess what? Miracle– they found it.
    “MGX, an investment firm backed by the Emirati government at this conference, announced that they had looked at all the crypto companies in the world that they could partner with to invest $2 billion in the crypto exchange Binance and they selected, wait for it, drumroll… the company run by the sons of the President of the United States and the U.S. Middle East envoy. $2 billion. Now World Liberty’s role in this transaction is not that complicated–it’s similar to a bank: MGX, this Emitari firm, deposits $2 billion with the firm and, in return, receives the stablecoin to be used on these crypto exchanges. The firm holds on to these dollars, invests them, and keeps the profits for themselves. So the Trump-Witkoff company just gets basically a gift of capital. And if they just used that $2 billion to invest in Treasury bonds, it would profit around $85 million a year from these investments alone.
    “And the money goes directly to Trump. Just directly to Trump. It’s literally not complicated. Emirates. World Liberty Financial. Donald Trump. This isn’t 1990’s Louisiana. Nobody’s hiding it. On World Liberty’s website they say, “an entity affiliated with Donald J. Trump” owns 60% of the equity in the company. And because of this deal, Trump and Witkoff can further capitalize. Because Trump’s stablecoin just became the 5th most valuable stablecoin in the world because of the Emirati investment.
    “And if the plane and the real estate deals and the private equity fund investment and the stablecoin weren’t enough for you, Trump has found one last way for Gulf money to flow seamlessly into his pocket: it’s called the Trump meme coin.
    “What’s the business model here? Trump gets a huge payment whenever he releases a batch of these meme coins, which by the way have no underlying value other than just the demand that people have for Trump’s coin. And then each time a Trump coin is bought or sold, a small fee is routed directly to the company owned by Trump. According to one analysis, nearly $325 million in fees have been accrued since the coin was launched in January. Just four and half months, $325 million worth of fees. 
    “Trump hides the buyers of the coin. In this way, the meme coin is kind of a little bit like Louisiana corruption. But we know that the majority of the buyers aren’t Americans who want to help Trump make this nation great again. The majority of the buyers of Trump coin are super-rich foreigners – princes, oligarchs, authoritarians – who are buying the coin in order to get in good with Trump or to get something in exchange.
    “Now one great thing about buying the coin is that you get access to Trump and the White House. And again, they’re not hiding this. Two weeks ago, Trump announced that he would host a private dinner at the White House, with seats reserved exclusively for the top 220 Trump coin holders. In two days since the announcement, Trump’s company made $900,000 in fees, because everybody, mostly foreigners–many of them probably in the Gulf–were buying up the coin as quickly as they could in order to get one of these seats. 
    “If a mayor of a small town was selling meetings at city hall for a thousand bucks, he would be run out of town on a rail. But that’s exactly what Donald Trump is doing, in the Middle East and all over the world, as foreign buyers line up to buy the meme coin guaranteed [to provide] private access to Donald Trump at the White House. You cannot make this up. 
    “Now, the obvious question for the average American is, okay, what does this mean for me? Somebody living in New Britain, Connecticut, might think it’s kind of gross that Trump is lining his pockets as President, but they want to know, how does this actually affect me?
    “Well, the most simple way to think about this is that if the guy that you elected to protect us and make our lives better is spending most of his time alternating between playing golf and cutting deals for himself, he’s not protecting you. He’s not spending any time trying to lower costs or defeat our enemies. Corruption, it can be a full-time job for Donald Trump, and that’s a pretty lousy deal for the American people.
    “But more importantly, when our foreign policy is for sale, we are less safe. Let me give you an example relative to the trip that Donald Trump is on right now. These countries aren’t padding Donald Trump’s pockets because they like him. They are paying him in order to get things from the federal government, from the U.S. government, without having to make any actual policy concessions that would benefit the U.S. people. 
    “Before anybody could begin to process the brazen corruption of the UAE/Trump/Witkoff crypto deal, reports very quickly emerged that the Trump administration was considering changing regulations to make it easier for the country of UAE to purchase highly advanced semiconductors from U.S. manufacturers. This was a huge priority of the Emiratis, but the restrictions are on the UAE for a reason. The UAE has a very troubling and very close security relationship with China, and so the reason why we didn’t allow U.S. companies to sell semiconductors directly to the UAE is because we believed that it would very easily become a conduit to China getting their hands on these advanced semiconductors and being able to leapfrog the United States in the business of advanced AI.
    “But all of a sudden, once the cash payment to Trump through the crypto venture was announced, Trump signaled that he was willing to throw our security concerns out the window and transfer this sensitive technology to the UAE, even though it’s likely that China will get their hands on this technology, allowing China to put themselves in a position to leapfrog us in the race for advanced AI. That would be a disaster for the American people. But that’s what’s happening. We might hand AI leadership to China because that’s the price of Trump getting paid, and as long as he gets paid, he doesn’t seem to care about the impact on regular Americans. 
    “The White House is open for business and the Trump family is proudly advertising to the world where to send the check. They aren’t trying to hide it. A $400 million luxury plane gifted to the president of the United States right as he is going over to negotiate potentially sensitive security arrangements with the Gulf countries. Every American, every Republican, every supposed ‘national security advocate’ in the Senate should be outraged by this. 
    “We can look the other way, or we can join together, Republicans and Democrats, to stand up for this country and do something about it. I’ve joined with Senators Schatz and Coons and Booker to introduce a resolution condemning the acceptance of the plane. It’s a blatant violation of the Emoluments Clause. We could stand together as a Senate to vote for that resolution. I’ve introduced legislation to make it illegal for presidents or members of Congress and their family members to profit off of crypto coins while they hold federal office.  We could join together in that effort. I will personally seek to block any arms sale that is announced as part of this trip with a country that is personally investing in Donald Trump and his family. I will force a full Senate debate and a vote on these sales. Foreign leaders need to know there will be a price for participating in the corruption of the American presidency.
    “This level of corruption is so gross that even Trump’s most hardened MAGA sycophants are turning against him. I didn’t think I’d see the day, but people like Ben Shapiro and Laura Loomer, who fawn over Trump, can’t believe he is so crass as to think that it’s ok to accept planes as a gift in exchange for U.S. national security concessions.
    “This isn’t America First. This is not what he promised the American people. This is Trump First. He is willing to put our nation’s security at risk, take unconstitutional bribes, just so he can fly himself and his Mar-a-Lago golf buddies around the world in gold plated luxury planes gifted to him by foreign governments. All while at the same time, he tells Americans that they should be okay buying fewer school supplies for their kids, or fewer birthday presents for their grandchildren, because he is driving prices up for non-billionaires in this country. All while at the same time he is kicking 13 million people off of their health care. Trump lines his pockets, he corrupts our foreign policy to enrich himself, while driving up prices and stealing health care from average Americans. It’s a national security disaster and it’s a moral abomination.”

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Community Energy Generation Growth Fund opens

    Source: Scottish Government

    £8 million for community renewable projects.

    Communities across Scotland seeking to set up renewable energy generation projects can bid for support from an £8 million government fund which has reopened for applications.

    The Community Energy Generation Growth Fund supports local communities to install wind turbines and solar panels or develop other types of renewable energy generation, such as hydro, to meet local needs. 

    Successful applicants will also be able to earn money from their projects by, for example, allowing them to sell excess energy generated.

    The expanded Scottish Government fund, which includes £4 million from Great British Energy, is part of the Scottish Government’s Community and Renewable Energy Scheme (CARES) and builds on last year’s support. 

    Since its inception, CARES has advised over 1,300 organisations and provided over £67 million in funding to communities throughout Scotland, supporting over 990 projects.

    Deputy First Minister Kate Forbes is set to announce the reopening of the fund at the All Energy Scotland conference in Glasgow this morning (Wednesday).

    Speaking ahead of the conference, Ms Forbes said: “Scotland is fast becoming a global renewable energy powerhouse, and it is vital that communities share in the benefits from this transition.

    “This funding, for stand-alone generation projects, responds to the needs of local groups – has the potential to lever in significant funds for communities. It will also  play a key role in our delivery of a just transition – supporting a greener, fairer future for Scots. 

    “It is also welcome that Great British Energy recognise the valuable role that communities play in our green transition and have provided support for the fund – helping to significantly increase the amount of support available to communities – and providing a catalyst for growth within the community energy sector.

    “We will continue to work with our partners to grow the community energy sector to ensure that the delivery of renewable energy comes with benefits for people in Scotland, as well as supporting progress towards net zero.” 

    Chris Morris from Local Energy Scotland said: “We’re pleased to be building on the success of last year’s Community Energy Generation Growth Fund pilot to support more Scottish communities looking to take the next steps in their renewable energy projects and play an active part in the nation’s transition to net zero.

    “Scottish communities demonstrated an appetite to develop new projects during the pilot phase and ideas taken forward include partnering with local authorities to install solar panels on schools, getting approvals for new solar farms and building wind turbines.

    We’re looking forward to supporting communities and helping even more of these inspiring projects be realised. For Scottish communities interested, the Local Energy Scotland team is here to help with information and case studies.”

    Background 

    More information on how to apply 

    MIL OSI United Kingdom –

  • MIL-OSI New Zealand: Environment – Greenpeace slams Govt for failure to commit to protecting rivers

    Source: Greenpeace

    Greenpeace Aotearoa is slamming the Government after Parliamentary Under-Secretary for RMA Reform, Simon Court, refused yesterday to commit to upholding Water Conservation Orders, which protect lakes and rivers.
    Speaking at the Environmental Defence Society’s annual conference, Simon Court refused to answer whether the Government would uphold existing Water Conservation Orders for rivers, as well as National Environmental Standards, under the Government’s RMA reforms.
    Greenpeace spokesperson Will Appelbe says, “Everyone should be able to swim in and fish from New Zealand’s lakes and rivers without getting sick. But nearly half of New Zealand’s rivers are unsafe for swimming, and many are unsuitable for food gathering. Water conservation orders are meant to protect significant waterways – the ones that are still in a good state – and ensure that they aren’t also destroyed.
    “That’s why it is deeply concerning to hear a member of the government refuse to commit to upholding the very limited protections we have for fresh water in Aotearoa.
    “The primary polluter of fresh water in Aotearoa is the intensive dairy industry. It has polluted lakes, rivers, and drinking water with excess nitrate contamination, as a result of the overuse of synthetic nitrogen fertiliser. And their excessive water takes have sucked rivers dry in order to irrigate dairy paddocks.”
    “Now, the government wants to allow the intensive dairy industry to pollute the few waterways that have been identified for special protection. This is a government that is letting polluters write the policy, and going against the interests of everyday New Zealanders who just want to be able to swim in their local river.”
    “With a government that is overturning every freshwater protection that exists in order to please the dairy industry, it’s more important than ever that local governments – like Environment Canterbury, who have responsibility over the majority of New Zealand’s freshwater ecosystems – step up and take real action to protect lakes, rivers, and drinking water.”
    “That means phasing out synthetic nitrogen fertiliser, and not allowing any new dairy conversions or intensifications to take place.”
    “People across the country are standing up for better protection for lakes, rivers, and drinking water. If the politicians won’t take action, then they should expect resistance.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: PSA welcomes alternative Green Budget which restores funding to the public service

    Source: PSA

    The PSA is welcoming the Green Party alternative Budget which underlines the importance of properly funding the public service to support New Zealanders, in contrast to the Government’s destructive cuts.
    The Green Budget, released today, reinstates funding to the public service including areas the Government has sharply cut and underfunded – primary health care, Oranga Tamariki and public housing.
    “The Green Party has taken a principled position to restore funding to the public service after the Government’s damaging cuts and the principle of settling pay equity claims so women are paid fairly,” said Fleur Fitzsimons National Secretary for the Public Service Association for Te Pūkenga Here Tikanga Mahi.
    “This Budget makes the right choices in terms of supporting a public service that can deliver to the needs of New Zealanders today and tomorrow and acknowledging the role of women in the public service.”
    The PSA was consulted on the Budget unlike the Government’s rushed changes to pay equity.
    “As we have seen with cuts to the health workforce, to community organisations supporting vulnerable children, and the gutting of Kāinga Ora, to name a few examples, there have been significant impacts on frontline services.
    “Women have borne the brunt of these job cuts, making up 62% of the public service and now the dismantling of the pay equity framework will further disadvantage women.
    “This speaks to the Government’s priorities. It made a choice to cut taxes for landlords, big tobacco and others instead of properly funding the public service, and paying women fairly – the chickens are coming home to roost – the Green Budget would change that and the PSA welcomes its approach.”
    The Public Service Association Te Pūkenga Here Tikanga Mahi is Aotearoa New Zealand’s largest trade union, representing and supporting more than 95,000 workers across central government, state-owned enterprises, local councils, health boards and community groups.

    MIL OSI New Zealand News –

  • MIL-OSI: Topicus.com Inc. Announces Election of Members of the Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 13, 2025 (GLOBE NEWSWIRE) — Topicus.com Inc. (“Topicus” or the “Corporation”) (TSXV: TOI) is pleased to announce the election of each of the five director nominees listed in the Corporation’s management proxy circular dated March 28, 2025, John Billowits, Alex Macdonald, Lori O’Neill, Donna Parr and Robin van Poelje, to the Corporation’s board of directors at its May 13, 2025 annual general meeting of shareholders (the “AGM”).

    Jane Holden did not stand for re-election to the Corporation’s board of directors at the AGM. The Corporation wishes to thank Jane for her contribution as a board member.

    About Topicus.com Inc.

    Topicus.com Inc. is a leading pan-European provider of vertical market software and vertical market platforms to clients in public and private sector markets. Operating and investing in countries and markets across Europe with long-term growth potential, Topicus.com Inc. acquires, builds and manages leading software companies providing specialized, mission-critical and high-impact software solutions that address the particular needs of customers.

    For further information:

    Jamal Baksh
    Chief Financial Officer 416-861-9677
    info@csisoftware.com

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network –

  • MIL-OSI: Constellation Software Inc. Announces Results of Voting for Directors at Annual General Shareholders’ Meeting

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 13, 2025 (GLOBE NEWSWIRE) — Constellation Software Inc. (the “Corporation”) (TSX:CSU) is pleased to announce the results of the vote on directors at its May 13, 2025 annual general shareholders’ meeting (the “AGM”). Each of the nine nominees listed in the Corporation’s management proxy circular dated March 28, 2025 was elected as a director. Voting was conducted by ballot with the following voting results:

    Name of Nominee Votes For % Votes Withheld %
    Jamal Baksh 15,262,903 95.93% 648,145 4.07%
    John Billowits 13,448,304 84.52% 2,462,743 15.48%
    Lawrence Cunningham 15,671,300 98.49% 239,747 1.51%
    Claire Kennedy 15,551,512 97.74% 359,536 2.26%
    Robert Kittel 14,355,779 90.23% 1,555,268 9.77%
    Mark Leonard 15,833,383 99.51% 77,664 0.49%
    Donna Parr 15,851,934 99.63% 59,114 0.37%
    Andrew Pastor 15,665,840 98.46% 245,208 1.54%
    Laurie Schultz 15,740,320 98.93% 170,728 1.07%
             

    Final voting results on all matters voted on at the annual meeting held on May 13, 2025 will be filed with the Canadian securities regulators.

    Jeff Bender, Susan Gayner, Mark Miller, Lori O’Neill, Dexter Salna, Barry Symons and Robin Van Poelje did not stand for re-election to the Corporation’s board of directors at the AGM. The Corporation wishes to thank each of the directors for their contributions as board members.

    About Constellation Software Inc.

    Constellation Software acquires, manages and builds vertical market software businesses.

    For further information:
    Jamal Baksh
    Chief Financial Officer
    416-861-9677
    info@csisoftware.com
    www.csisoftware.com

    The MIL Network –

  • MIL-OSI Global: As US ramps up fossil fuels, communities will have to adapt to the consequences − yet climate adaptation funding is on the chopping block

    Source: The Conversation – USA – By Bethany Bradley, Professor of Biogeography and Spatial Ecology, UMass Amherst

    Salt marshes protect shorelines, but they’re already struggling to survive sea-level rise. John Greim/LightRocket via Getty Images

    It’s no secret that warming temperatures, wildfires and flash floods are increasingly affecting lives across the United States. With the U.S. government now planning to ramp up fossil fuel use, the risks of these events are likely to become even more pronounced.

    That leaves a big question: Is the nation prepared to adapt to the consequences?

    For many years, federally funded scientists have been developing solutions to help reduce the harm climate change is causing in people’s lives and livelihoods. Yet, as with many other science programs, the White House is proposing to eliminate funding for climate adaptation science in the next federal budget, and reports suggest that the firing of federal climate adaptation scientists may be imminent.

    As researchers and directors of regional Climate Adaptation Science Centers, funded by the U.S. Geological Survey since 2011, we have seen firsthand the work these programs do to protect the nation’s natural resources and their successes in helping states and tribes build resilience to climate risks.

    Here are a few examples of the ways federally funded climate adaptation science conducted by university and federal researchers helps the nation weather the effects of climate change.

    Protecting communities against wildfire risk

    Wildfires have increasingly threatened communities and ecosystems across the U.S., exacerbated by worsening heat waves and drought.

    In the Southwest, researchers with the Climate Adaptation Science Centers are developing forecasting models to identify locations at greatest risk of wildfire at different times of year.

    Knowing where and when fire risks are highest allows communities to take steps to protect themselves, whether by carrying out controlled burns to remove dry vegetation, creating fire breaks to protect homes, managing invasive species that can leave forests more prone to devastating fires, or other measures.

    The solutions are created with forest and wildland managers to ensure projects are viable, effective and tailored to each area. The research is then integrated into best practices for managing wildfires. The researchers also help city planners find the most effective methods to reduce fire risks in wildlands near homes.

    Wildland firefighters and communities have limited resources. They need to know where the greatest risks exist to take preventive measures.
    Ethan Swope/Getty Images

    In Hawaii and the other Pacific islands, adaptation researchers have similarly worked to identify how drought, invasive species and land-use changes contribute to fire risk there. They use these results to create maps of high-risk fire zones to help communities take steps to reduce dry and dead undergrowth that could fuel fires and also plan for recovery after fires.

    Protecting shorelines and fisheries

    In the Northeast, salt marshes line large parts of the coast, providing natural buffers against storms by damping powerful ocean waves that would otherwise erode the shoreline. Their shallow, grassy waters also serve as important breeding grounds for valuable fish.

    However, these marshes are at risk of drowning as sea level rises faster than the sediment can build up.

    As greenhouse gases from burning fossil fuels and from other human activities accumulate in the atmosphere, they trap extra heat near Earth’s surface and in the oceans, raising temperatures. The rising temperatures melt glaciers and also cause thermal expansion of the oceans. Together, those processes are raising global sea level by about 1.3 inches per decade.

    Adaptation researchers with the Climate Adaptation Science Centers have been developing local flood projections for the regions’ unique oceanographic and geophysical conditions to help protect them. Those projections are essential to help natural resource managers and municipalities plan effectively for the future.

    Researchers are also collaborating with local and regional organizations on salt marsh restoration, including assessing how sediment builds up each marsh and creating procedures for restoring and monitoring the marshes.

    Saving salmon in Alaska and the Northwest

    In the Northwest and Alaska, salmon are struggling as temperatures rise in the streams they return to for spawning each year. Warm water can make them sluggish, putting them at greater risk from predators. When temperatures get too high, they can’t survive. Even in large rivers such as the Columbia, salmon are becoming heat stressed more often.

    Adaptation researchers in both regions have been evaluating the effectiveness of fish rescues – temporarily moving salmon into captivity as seasonal streams overheat or dry up due to drought.

    In Alaska, adaptation scientists have built broad partnerships with tribes, nonprofit organizations and government agencies to improve temperature measurements of remote streams, creating an early warning system for fisheries so managers can take steps to help salmon survive.

    Managing invasive species

    Rising temperatures can also expand the range of invasive species, which cost the U.S. economy billions of dollars each year in crop and forest losses and threaten native plants and animals.

    Researchers in the Northeast and Southeast Climate Adaptation Science Centers have been working to identify and prioritize the risks from invasive species that are expanding their ranges. That helps state managers eradicate these emerging threats before they become a problem. These regional invasive species networks have become the go-to source of climate-related scientific information for thousands of invasive species managers.

    The rise in the number of invasive species projected by 2050 is substantial in the Northeast and upper Midwest. Federally funded scientists develop these risk maps and work with local communities to head off invasive species damage.
    Regional Invasive Species and Climate Change Network

    The Northeast is a hot spot for invasive species, particularly for plants that can outcompete native wetland and grassland species and host pathogens that can harm native species.

    Without proactive assessments, invasive species management becomes more difficult. Once the damage has begun, managing invasive species becomes more expensive and less effective.

    Losing the nation’s ability to adapt wisely

    A key part of these projects is the strong working relationships built between scientists and the natural resource managers in state, community, tribal and government agencies who can put this knowledge into practice.

    With climate extremes likely to increase in the coming years, losing adaptation science will leave the United States even more vulnerable to future climate hazards.

    Bethany Bradley receives funding from the US Geological Survey as the University Director of the Northeast Climate Adaptation Science Center.

    Jia Hu has receives funding from the US Geological Survey as the University Director of the Southwest Climate Adaptation Science Center.

    Meade Krosby receives funding from the US Geological Survey as the University Director of the Northwest Climate Adaptation Science Center.

    – ref. As US ramps up fossil fuels, communities will have to adapt to the consequences − yet climate adaptation funding is on the chopping block – https://theconversation.com/as-us-ramps-up-fossil-fuels-communities-will-have-to-adapt-to-the-consequences-yet-climate-adaptation-funding-is-on-the-chopping-block-256307

    MIL OSI – Global Reports –

  • MIL-OSI China: Full Text: President Xi’s keynote speech at the opening ceremony of the fourth ministerial meeting of the China-CELAC Forum

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

    Full Text: President Xi’s keynote speech at the opening ceremony of the fourth ministerial meeting of the China-CELAC Forum

    BEIJING, May 13 — Chinese President Xi Jinping on Tuesday delivered a keynote speech at the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum.

    The following is the full text of the speech:

    Writing a New Chapter in Building

    A China-LAC Community with a Shared Future

    Keynote Address by H.E. Xi Jinping

    President of the People’s Republic of China

    At the Opening Ceremony

    Of the Fourth Ministerial Meeting of the China-CELAC Forum

    Beijing, May 13, 2025

    Your Excellency President Gustavo Petro,

    Your Excellency President Luiz Inácio Lula da Silva,

    Your Excellency President Gabriel Boric,

    Your Excellency President Dilma Rousseff,

    Delegates of CELAC Member States,

    Ladies and Gentlemen,

    Friends,

    It gives me great pleasure to meet so many old and new friends from Latin American and Caribbean (LAC) countries in Beijing. On behalf of the Chinese government and people, I extend a warm welcome to you all.

    In 2015, LAC delegates and I attended the opening ceremony of the First Ministerial Meeting of the China-CELAC Forum in Beijing, which marked the launch of the China-CELAC Forum. Ten years on, with dedicated nurturing of both sides, the Forum has grown from a tender sapling into a towering tree. This fills me with deep pride and satisfaction.

    Although China and the LAC region are geographically distant, the bonds of our friendship stretch back through centuries. As early as in the 16th century, Nao de China, or “Ships of China,” laden with friendship, shuttled across the Pacific, marking the dawn of interactions and exchanges between China and the LAC region. From the 1960s onward, as New China established diplomatic ties with some LAC countries, exchanges and cooperation between the two sides became closer and closer. Since the turn of the century and in particular in recent years, China and LAC countries have ushered in a historic era of building a shared future.

    We stand shoulder to shoulder and support each other. China appreciates the long-standing commitment of LAC countries that have diplomatic ties with China to the one-China principle. China firmly supports LAC countries in pursuing development paths suited to their national conditions, safeguarding sovereignty and independence, and opposing external interference. In the 1960s, mass rallies and demonstrations took place across China in support of the Panamanian people’s rightful claim to sovereignty over the Panama Canal. In the 1970s, during the Latin American campaign for 200-nautical-mile maritime rights, China voiced its resolute and unequivocal support for the legitimate demands of developing countries. For 32 consecutive times since 1992, China has consistently voted for the United Nations (U.N.) General Assembly resolutions calling for an end to the U.S. embargo against Cuba.

    We ride the tide of progress together to pursue win-win cooperation. Embracing the trend of economic globalization, China and LAC countries have deepened cooperation in trade, investment, finance, science and technology, infrastructure, and many other fields. Under the framework of high-quality Belt and Road cooperation, the two sides have implemented more than 200 infrastructure projects, creating over a million jobs. The China-LAC satellite cooperation program has set a model for high-tech South-South cooperation. The inauguration of Chancay Port in Peru has established a new land-and-sea connectivity link between Asia and Latin America. China has signed free trade agreements with Chile, Peru, Costa Rica, Ecuador, and Nicaragua. Last year, trade between China and LAC countries exceeded US$500 billion for the first time, an increase of over 40 times from the beginning of this century.

    We unite in tough times to conquer challenges through mutual support. China and LAC countries have collaborated on disaster prevention, mitigation and relief and on joint response to hurricanes, earthquakes and other natural disasters. Since 1993, China has dispatched 38 medical teams to the Caribbean. When the pandemic of the century struck, China was among the first to offer assistance to LAC countries, providing over 300 million doses of vaccines and nearly 40 million units of medical supplies and equipment, and sending multiple teams of medical experts. All this helped protect the lives of hundreds of millions across the region.

    We uphold solidarity and coordination and rise to global challenges with resolve. Together, China and LAC countries champion true multilateralism, uphold international fairness and justice, advance global governance reform, and promote multipolarization of the world and greater democracy in international relations. We have worked together to address global challenges like climate change, and advance progress in global biodiversity governance. China and Brazil jointly issued a six-point common understanding on the political settlement of the Ukraine crisis, which has been endorsed by more than 110 countries, contributing our wisdom and strength to resolving international hotspot issues.

    Facts have shown that China and LAC countries are advancing hand in hand as a community with a shared future. This community of ours is founded upon equality, powered by mutual benefit and win-win, invigorated by openness and inclusiveness, and dedicated to the people’s well-being. It exhibits enduring vitality and holds immense promise.

    Distinguished Delegates,

    Friends,

    The century-defining transformation is accelerating across the globe, with multiple risks compounding one another. Such developments make unity and cooperation among nations indispensable for safeguarding global peace and stability and for promoting global development and prosperity. There are no winners in tariff wars or trade wars. Bullying or hegemonism only leads to self-isolation. China and LAC countries are important members of the Global South. Independence and autonomy are our glorious tradition. Development and revitalization are our inherent right. And fairness and justice are our common pursuit. In the face of seething undercurrents of geopolitical and bloc confrontation and the surging tide of unilateralism and protectionism, China stands ready to join hands with our LAC partners to launch five programs that advance our shared development and revitalization, and contribute to a China-LAC community with a shared future.

    The first is Solidarity Program. China will work with LAC countries to support each other on issues bearing on our respective core interests and major concerns. We must enhance exchanges in all fields, and strengthen communication and coordination on major international and regional issues. In the next three years, to facilitate our exchanges on national governance best practices, China will invite 300 members from political parties of CELAC member states every year to visit China. China supports the efforts by LAC countries in increasing their influence on the multilateral stage. We will work with LAC countries to firmly safeguard the international system with the U.N. at its core and the international order underpinned by international law, and to speak with one voice in international and regional affairs.

    The second is Development Program. China will work with LAC countries to implement the Global Development Initiative. We will resolutely uphold the multilateral trading system, ensure stable, unimpeded global industrial and supply chains, and promote an international environment of openness and cooperation. We should foster greater synergy between our development strategies, expand high-quality Belt and Road cooperation, and bolster cooperation in traditional areas such as infrastructure, agriculture and food, and energy and minerals. We should expand cooperation in emerging areas such as clean energy, 5G telecommunications, the digital economy and artificial intelligence, and carry out the China-LAC Science and Technology Partnership. China will increase imports of quality products from LAC countries, and encourage its enterprises to expand investment in the LAC region. We will provide a RMB66 billion yuan credit line to support LAC countries’ development.

    The third is Civilization Program. China will work with LAC countries to implement the Global Civilization Initiative. We should uphold the vision of equality, mutual learning, dialogue, and inclusiveness between civilizations, and champion humanity’s common values of peace, development, fairness, justice, democracy, and freedom. We should enhance China-LAC civilizational exchanges and mutual learning, including through a conference on China-LAC inter-civilizational dialogue. We should deepen cultural and artistic exchanges and cooperation, and hold the Latin American and Caribbean Arts Season. We should strengthen exchanges and cooperation in cultural heritage fields such as joint archaeological projects, conservation and restoration of ancient and historic sites, and museum exhibitions. We should also carry out collaborative studies of ancient civilizations and enhance cooperation to combat illicit trafficking of cultural property.

    The fourth is Peace Program. China will work with LAC countries to implement the Global Security Initiative. China supports the Proclamation of Latin America and the Caribbean as a Zone of Peace and the Declaration of Member States of the Agency for the Prohibition of Nuclear Weapons in Latin America and the Caribbean. The two sides should cooperate more closely in disaster governance, cybersecurity, counterterrorism, anti-corruption, narcotics control and combating transnational organized crime so as to safeguard security and stability in the region. China will organize law enforcement training programs tailored to the needs of CELAC member states, and do our best to provide equipment assistance.

    The fifth is People-to-People Connectivity Program. In the next three years, China will provide CELAC member states with 3,500 government scholarships, 10,000 training opportunities in China, 500 International Chinese Language Teachers Scholarships, 300 training opportunities for poverty reduction professionals, and 1,000 funded placements through the Chinese Bridge program. We will initiate 300 “small and beautiful” livelihood projects, actively promote vocational education cooperation programs such as Luban Workshop, and support CELAC member states in developing Chinese language education. We will also launch an exhibition of Chinese films and TV programs under The Bond, and work with LAC countries to translate and introduce 10 premium TV dramas and audiovisual programs annually to each other. China will host the China-LAC tourism dialogue with LAC countries. To facilitate friendly exchanges, China has decided to implement a visa exemption for five LAC countries as the first step, and will expand this policy coverage at proper times.

    Distinguished Delegates,

    Friends,

    As an 11th-century Chinese poet wrote, “Life’s greatest joy comes from finding kindred spirits.” Latin America has a similar proverb which goes, “The one who has a friend has a treasure.” No matter how the world changes, China will always stand by LAC countries as a good friend and a good partner. Let us march forward together on our paths toward modernization, working together to write a new chapter in building a China-LAC community with a shared future.

    MIL OSI China News –

  • MIL-OSI China: Xi unveils roadmap for deepening cooperation with LAC countries

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

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

    BEIJING, May 13 — Chinese President Xi Jinping on Tuesday announced the launch of five programs to advance shared development and revitalization with Latin American and Caribbean (LAC) countries.

    The five programs, ranging from solidarity, development and civilization to peace and people-to-people connectivity, were announced by Xi when delivering a keynote speech at the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum in Beijing.

    In 2015, Xi and LAC delegates attended the opening ceremony of the first ministerial meeting of the China-CELAC Forum in Beijing, which marked the launch of the forum.

    On Solidarity Program, Xi said China is willing to strengthen solidarity with LAC countries and continue to support each other on issues concerning their core interests and major concerns, to firmly safeguard the international system with the U.N. at its core and the international order underpinned by international law, and to speak with one voice in international and regional affairs.

    In the next three years, China will invite 300 members from political parties of CELAC member states every year to visit China to facilitate exchanges on national governance best practices, Xi said.

    On Development Program, China is willing to work with LAC countries to implement the Global Development Initiative, resolutely uphold the multilateral trading system, ensure stable, unimpeded global industrial and supply chains, and promote an international environment of openness and cooperation, Xi said.

    Noting that the two sides should foster greater synergy between their development strategies and expand high-quality Belt and Road cooperation, Xi said China will import more quality products from LAC countries and encourage Chinese enterprises to expand their investment in the region.

    On Civilization Program, Xi called for joint implementation of the Global Civilization Initiative. He said both sides should uphold the vision of equality, mutual learning, dialogue, and inclusiveness between civilizations, champion humanity’s common values of peace, development, fairness, justice, democracy and freedom, and enhance China-LAC civilizational exchanges and mutual learning, including through a conference on China-LAC inter-civilizational dialogue.

    On Peace Program, Xi called for joint implementation of the Global Security Initiative. He said both sides should cooperate more closely in disaster governance, cybersecurity, counterterrorism, anti-corruption, narcotics control and combating transnational organized crime so as to safeguard security and stability in the region.

    On People-to-People Connectivity Program, Xi said in the next three years, China will provide CELAC member states with 3,500 government scholarships, 10,000 training opportunities in China, 500 International Chinese Language Teachers Scholarships, 300 training opportunities for poverty reduction professionals, and 1,000 funded placements through the Chinese Bridge program, initiate 300 “small and beautiful” livelihood projects, and support CELAC member states in developing Chinese language education.

    China has decided to offer a visa-free policy to five LAC countries, and will expand the policy to cover more regional countries in due course, Xi said.

    Gustavo Petro, president of Colombia, the CELAC rotating chair, Brazilian President Luiz Inacio Lula da Silva, Chilean President Gabriel Boric, and Dilma Rousseff, president of the New Development Bank and former Brazilian president, addressed the event respectively.

    Special representative of Yamandu Orsi, president of Uruguay, the incoming CELAC rotating chair, read out the president’s congratulatory letter.

    Faced with a world full of uncertainties, LAC countries and China should work together to promote continuous new progress in building a community with a shared future, they said.

    Both sides should respect each other and firmly support each other in safeguarding sovereignty and choosing their own development path, they said, calling for strengthening the synergy between the development strategies of LAC countries and the Belt and Road Initiative, and promoting cooperation in trade, investment, infrastructure, agriculture, science and technology, new energy and education.

    The two sides should also promote exchanges and dialogues among civilizations, safeguard the authority of the U.N., support multilateralism and free trade, and oppose unilateralism, protectionism, power politics and bullying to safeguard the common interests of the Global South, they added.

    Chinese President Xi Jinping attends the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum and delivers a keynote speech at the China National Convention Center in Beijing, capital of China, May 13, 2025. [Photo/Xinhua]
    Chinese President Xi Jinping poses for a group photo with guests attending the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum at the China National Convention Center in Beijing, capital of China, May 13, 2025. Xi attended the opening ceremony of the meeting and delivered a keynote speech. [Photo/Xinhua]
    Chinese President Xi Jinping attends the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum and delivers a keynote speech at the China National Convention Center in Beijing, capital of China, May 13, 2025. [Photo/Xinhua]
    Chinese President Xi Jinping and guests attend the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum at the China National Convention Center in Beijing, capital of China, May 13, 2025. Xi delivered a keynote speech at the opening ceremony of the meeting. [Photo/Xinhua]
    Chinese President Xi Jinping and guests attend the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum at the China National Convention Center in Beijing, capital of China, May 13, 2025. Xi delivered a keynote speech at the opening ceremony of the meeting. [Photo/Xinhua]
    Colombian President Gustavo Petro, also rotating president of the Community of Latin American and Caribbean States (CELAC), delivers a speech at the opening ceremony of the fourth ministerial meeting of the China-CELAC Forum in Beijing, capital of China, May 13, 2025. [Photo/Xinhua]
    Brazilian President Luiz Inacio Lula da Silva delivers a speech at the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum in Beijing, capital of China, May 13, 2025. [Photo/Xinhua]
    Chilean President Gabriel Boric delivers a speech at the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum in Beijing, capital of China, May 13, 2025. [Photo/Xinhua]
    Dilma Rousseff, president of the New Development Bank and former Brazilian president, delivers a speech at the opening ceremony of the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum in Beijing, capital of China, May 13, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Chinese premier meets Brazilian president

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

    Chinese Premier Li Qiang meets with Brazilian President Luiz Inacio Lula da Silva, who is on a state visit to China, at the Great Hall of the People in Beijing, capital of China, May 13, 2025. [Photo/Xinhua]

    BEIJING, May 13 — Chinese Premier Li Qiang met with Brazilian President Luiz Inacio Lula da Silva in Beijing on Tuesday.

    Li said that under the strategic guidance of the two heads of state, China-Brazil relations have entered a golden period of growth. China is willing to work with Brazil to maintain high-level exchanges, deepen political mutual trust, constantly enrich the strategic connotation of bilateral relations, comprehensively expand mutually beneficial cooperation between the two sides, and walk side by side and achieve mutual success on the road of modernization, he added.

    Noting the current international situation is complex and volatile, Li said that as major developing countries and important emerging economies in the world, China and Brazil should unite, cooperate more closely and join hands in the face of risks and challenges.

    China is willing to enhance the alignment of development strategies with Brazil, give full play to the complementary advantages of industrial structures, explore more points of convergence of interests, deepen cooperation in areas such as finance, trade and investment, infrastructure, industrial chains, and the green transformation, and create more flagship projects, Li said.

    He called on both sides to enhance cooperation in areas such as artificial intelligence, the digital economy, advanced manufacturing and biomedicine, to continuously expand the innovative impetus for practical cooperation between the two countries.

    China is willing to maintain close multilateral communication and coordination with Brazil, continue to firmly safeguard the central role of the United Nations, practice true multilateralism, promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization, advance the building of a community with a shared future for mankind, and contribute important strength to maintaining world peace and stability, Li said.

    Lula said Brazil attaches great importance to developing relations with China and is willing to further enhance high-level exchanges with China, strengthen the alignment of Brazil’s development strategy with the Belt and Road Initiative, and deepen mutually beneficial cooperation.

    Brazil is willing to maintain close multilateral communication and cooperation with China, support multilateralism, jointly resist unilateralism and protectionism, safeguard national sovereignty, and promote the common development of the Global South, Lula said.

    Chinese Premier Li Qiang meets with Brazilian President Luiz Inacio Lula da Silva, who is on a state visit to China, at the Great Hall of the People in Beijing, capital of China, May 13, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI United Kingdom: Tens of thousands more patients receiving crucial scans quicker

    Source: United Kingdom – Government Statements

    Press release

    Tens of thousands more patients receiving crucial scans quicker

    More people were seen faster for scans including endoscopies, ultrasounds, and MRIs

    • Latest data shows 44,000 fewer people waited more than six weeks for diagnostic tests compared to last year 

    • Government drive to slash waiting times means patients are being seen faster for scans including endoscopies, ultrasounds, and MRIs 

    • Progress is latest milestone in government’s mission to reform the NHS through its Plan for Change 

    Tens of thousands more patients are getting crucial diagnostic scans within weeks under the government’s Plan for Change to slash NHS waiting times. 

    Latest data shows 44,000 fewer people were waiting more than six weeks for procedures like endoscopies, ultrasounds and MRIs compared to February last year. 

    It means some patients being referred for suspected illnesses including heart conditions, spinal cord injuries and various cancers could be diagnosed faster, helping save lives. 

    The government is continuing to expand Community Diagnostic Centres (CDCs) nationwide, offering 12-hour, seven-day access to vital tests and appointments.

    The expansion is funded from the extra £26 billion investment in the health service delivered at the Autumn Budget, bringing care closer to communities who need it. 

    Health and Social Care Secretary Wes Streeting said: 

    I’ve been honest that fixing our NHS will be a long road, but this government is bringing in the investment and reform that’s needed to get us there. 

    The additional diagnostic capacity we’ve unlocked isn’t just about numbers on a spreadsheet – it’s about giving people their lives back.  

    Every ultrasound, MRI or endoscopy represents someone who can now plan their future with certainty rather than fear.  

    Through our Plan for Change, we will get our NHS back on its feet and make it fit for the future.

    There are currently 169 conveniently located Community Diagnostic Centres (CDCs) across the country, bringing care closer to patient’s doorsteps.

    Many of these will be opened 12 hours a day, seven days a week where possible, making it easier for people to get their tests and appointments done at a time that suits them. 

    Between July and February, around 4.5 million tests, checks and scans were carried out in CDCs – a 50% increase on the previous year. 

    This equates to 18,000 more checks being delivered every day for patients to diagnose some of the biggest killers – including cancer and heart disease. 

    Dr Rhydian Phillips, Director of Diagnostics and Transport at NHS England, said:

    Community Diagnostics Centres are vital in helping ensure patients can get the all-clear or be diagnosed and treated for a range of conditions as quickly as possible.

    They are helping us to see more people than ever before and are at the heart of communities in locations that are more convenient for patients – with some even popping up in shopping centres.

    NHS staff are working incredibly hard to provide more tests and checks, while our campaigns encouraging people to come forward with worrying signs are also hugely important. If anyone has any health concerns, we would urge them to seek help and advice as it could save their life.

    More patients are being seen faster across the NHS thanks to the government’s push to slash waiting times and tackle the inherited waiting list of 7.6 million. 

    Since July, more than 3 million extra elective care appointments have been rolled out, ensuring more patients can get assessed and treated more quickly. 

    And the drive is having a big impact on cancer care, with an extra 80,000 patients having cancer diagnosed or ruled out within 28 days. 

    The progress forms part of the government’s wider Plan for Change and its drive to meet the NHS standard that 92 per cent of patients are treated within 18 weeks by the end of this Parliament.  

    Updates to this page

    Published 14 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Boost for British green aviation fuel production to support jobs and lift off emerging industry

    Source: United Kingdom – Government Statements

    Press release

    Boost for British green aviation fuel production to support jobs and lift off emerging industry

    New sustainable aviation fuel (SAF) measures will support aviation expansion and meet decarbonisation goals.

    • new laws introduced today will increase homegrown sustainable aviation fuel, positioning the UK as a world leading destination for the new emerging market
    • UK revenue certainty for green fuel producers will boost jobs across the country and enable the UK to go further and faster with expansion plans
    • passengers will be a step closer to more eco-friendly flights, as £400,000 announced to get new fuels to market quicker, delivering on the UK’s clean energy ambitions and powering up economic growth as part of the Plan for Change

    New measures to help the UK take off as a world leader in sustainable aviation fuel (SAF), supporting the growth in the industry and jobs across the country, were introduced today in Parliament (14 May 2025).

    With decarbonisation key to accelerating expansion plans, the government has also announced an additional £400,000 of funding for producers so that new clean fuels can get to market quicker, speeding up the UK’s path to green flying.  

    SAF is an alternative to fossil jet fuel, which reduces greenhouse gas emissions on average by 70% on a lifecycle basis. While the fuel is more costly to produce than jet fuel, the government’s SAF measures protect industry and consumers from excessive costs.

    In addition, the revenue certainty mechanism (RCM) will keep ticket price changes minimal – keeping fluctuations to £1.50 a year on average – and will be industry funded through a levy on aviation fuel suppliers. The Department for Transport (DfT) will continue to engage with industry on the details of the RCM, including pricing.  

    A new round of government funding is also being announced, to offer fuel producers a share of £400,000 to support the testing and qualification of green fuels, helping to get them to market quicker. This support for producers follows £63 million of funding made available through the Advanced Fuels Fund this year.  

    Taken together, the government’s commitments on green fuels will help deliver on its missions to kickstart economic growth via job creation, become a clean energy superpower and will allow the UK to go further and faster with expansion plans, giving a boon to the tourism industry. 

    Aviation Minister, Mike Kane, said:  

    I want to see a golden age for green aviation and today sees take off for sustainable flights. 

    Aviation continues to be one of the fastest growing and most integral parts of the UK’s economy, offering more jobs across engineering, tourism and hospitality – and as we support aviation expansion, we need to move at full throttle towards decarbonisation.

    We are making the UK one of the best places in the world to produce sustainable aviation fuel, putting the pedal down on growth and boosting job opportunities across the country as part of the Plan for Change.

    The new legislation will help industry meet its requirements under the SAF Mandate, introduced in January this year, which specifies that at least 10% of all jet fuel used in flights taking off from the UK from 2030, be made with sustainable fuel, rising to 22% by 2040.  

    The new financial mechanism is another display that the UK is rock solid in its commitment to building a prosperous hub for homegrown sustainable fuel production. Furthermore, this vital update provides SAF producers and the industry at large the confidence and stability to plough investment into clean energy. 

    The government’s approach on low carbon fuels could add up to £5 billion to the economy by 2050 and position the UK as a global hub for SAF production.

    Tim Alderslade, Chief Executive of Airlines UK, said: 

    This is a welcome announcement given the importance of the RCM to commercialising and scaling-up SAF production in the UK, a technology key to decarbonising aviation by 2050. A UK SAF industry, kick-started by the RCM and SAF Mandate, can create tens of thousands of jobs across the country whilst supporting our world-class aviation sector to deliver economic growth.

    We look forward to working with government on scheme design and how contracts are allocated, so that we balance the need to deliver the SAF required to support mandate compliance, whilst keeping costs as low as possible through a competitive and transparent bidding process that places the consumer at its heart.

    Duncan McCourt, Chief Executive of Sustainable Aviation, said:

    We hugely welcome the publication of this important legislation. SAF is a crucial element in the plan to decarbonise aviation as it can be used in existing aircraft with existing infrastructure.

    The challenge now is to scale the industry, ensuring we have enough SAF to meet the mandate whilst keeping costs low and create thousands of jobs in the process. This legislation will help to do that.

    Aviation, Europe and technology media enquiries

    Media enquiries 0300 7777 878

    Switchboard 0300 330 3000

    Updates to this page

    Published 14 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Great British Energy funding boost for Scottish communities

    Source: United Kingdom – Government Statements

    Press release

    Great British Energy funding boost for Scottish communities

    £4m Great British Energy funding scheme to target clean energy projects in Scottish communities.

    • Community-owned energy projects in Scotland to get access to funding from Great British Energy
    • new investment will help communities install clean power projects to cut bills and provide energy security
    • joint fund with the Scottish Government will give communities a stake in their local energy supply

    Communities across Scotland can today apply for new funding from a £4 million Great British Energy scheme.

    The funding targets local clean energy projects – from community-led onshore wind, to solar on rooftops and hydropower in rivers – generating profits which could be reinvested into community projects or take money off people’s bills.

    Great British Energy, the government’s publicly-owned clean power company, is giving communities a stake in generating their own energy so people can reinvest profits where it really matters.

    Great British Energy’s £4 million funding is part of the £8 million Community Energy Generation Growth Fund, with the remaining funding coming from the Scottish Government.

    Minister for Energy Michael Shanks said:

    This is our clean energy superpower mission in action – putting communities in the driving seat of energy generation and making sure people profit.

    Great British Energy wants to kickstart a community energy revolution, empowering our towns and villages to become mini energy producers and reinvest profits back into the local community.

    Updates to this page

    Published 14 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Regulator updates guidance to help charities open up opportunities for new trustees

    Source: United Kingdom – Government Statements

    Press release

    Regulator updates guidance to help charities open up opportunities for new trustees

    The Charity Commission has refreshed its guidance on recruiting trustees (CC30).

    The guidance redesign comes after the regulator’s research, with think tank and social sector research organisation Pro Bono Economics, revealed just 6% of trustees applied for their role via an advert. The report published last month indicated that more than half of charities relied on personal contacts to recruit new trustees.  

    The regulator is encouraging charities to use the guidance to help improve their recruitment and induction practices. The refreshed guidance focuses on practical steps charities can take to connect with a broader range of candidates, and to identify and remove barriers that may put people off applying for the role. The guidance also suggests considering a skills audit to test what the charity needs from its trustees. 

    The refreshed guidance encourages charities to write and keep under review their trustee role description and to distinguish between what is required and what can be learnt in the role.  It highlights ways to reach more candidates such as posting ads via social media or using organisations that offer trustee finder services. It signposts a range of free resources to help charities reach as many people as possible but is clear that charities can also pay for trustee recruitment services.  

    The regulator has expanded the induction section of its guidance to help charities not only recruit successfully to the role but also retain new trustees. It encourages charities to discuss with each new trustee what information and learning they need to become an effective trustee, and how to support them with this, setting out a range of approaches. 

    As the recent research revealed, one in three trustees (29%) are asked to join their board by the chair and one in four are asked by another board member. Recruiting within known circles can contribute to identifying good candidates but limits the field, and difficulties can arise when boards have several personal connections. The guidance highlights how having a group of trustees who have the right mix of technical skills, knowledge of the sector the charity works in, community connections and first-hand experiences can create well-rounded boards and promote strong governance at charities.  

    Mazeda Alam, Head of Trustee Guidance at the Charity Commission said:  

    It is fantastic that so many trustees recommend the role to others, and we know for some it is an essential way to fill vacancies.  

    However, we want our refreshed guidance to get trustees thinking about how they can broaden their reach when recruiting to their board. Small changes like writing your trustee role description differently or re-considering what skills are really essential, could widen the net and land you a valuable, new addition – taking your board from strength to strength.  

    Our casework has shown that it can be difficult to instil essential governance processes when there are multiple personal ties on a board. We’re also aware that some charities may not have the minimum number of trustees required by their governing document. We want our guidance to support trustees to avoid these risks and help open up trusteeship to all.

    The full guidance can be found on gov.uk.

    Press office

    Email pressenquiries@charitycommission.gov.uk

    Out of hours press office contact number: 07785 748787

    Updates to this page

    Published 14 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Case, Cortez Masto, Ernst, Radewagen Work To Strengthen Strategic Relationships With Pacific Islands

    Source: United States House of Representatives – Congressman Ed Case (Hawai‘i – District 1)

    (Washington, D.C) — Today, U.S. Senators Catherine Cortez Masto (D-Nev.) and Joni Ernst (R-Iowa), Congressman Ed Case (D-Hawaii-01), and Delegate Aumua Amata Radewagen (R-A.S.), introduced a bipartisan, bicameral bill aimed at strengthening the United States’ strategic partnerships with Pacific Island nations, supporting sustainable development, and combating the increasing Chinese aggression in the region. The Pacific Partnership Act would help the U.S. establish a clear, comprehensive strategy to support diplomatic, security, and economic relationships in the Indo-Pacific region.

    “Our Pacific Partnership Act responds directly to the reality that our country’s and world’s future lies in the Indo-Pacific, and that the islands of the Pacific are our indispensable partners in charting that future,” said Congressman Case. 

    “The Pacific Islands are under increasingly severe economic, environmental and geopolitical stress, and we must expand our generational engagement to assist them where they most need assistance. The Pacific Partnership Act, molded directly on the Pacific Islands’ own blueprint to their collective future, is our roadmap to expanded engagement as well.”

    “Supporting our allies and partners in the Indo-Pacific is essential to combating the Chinese Communist Party’s influence and to our long-term national security,” said Senator Cortez Masto. “This bipartisan bill is critical to strengthening our ties with our allies in the Pacific and ensuring they become enduring global relationships.”

    “Strengthening America’s partnerships in the Indo-Pacific is critical to deterring Chinese aggression,” said Senator Ernst. “This bipartisan legislation equips us to work with nations in the Pacific that serve as the first line of defense against the Chinese Communist Party and keep Americans safe at home.”

    “Thank you to Senator Cortez Masto, Senator Ernst, and Congressman Case for their focus on these important partnerships that are close to home for my congressional district in the South Pacific,” said Congresswoman Radewagen. “We need sustained U.S. engagement for enduring partnerships in the Pacific Islands, keeping China’s influence in check, and strengthening mutual development opportunities.”

    The U.S. has a longstanding relationship with the Pacific Islands, and they play a crucial role in U.S. national security, facilitating military operations in support of American allies and partners. Nevada – through the National Guard – collaborates with the Republic of Fiji, the Kingdom of Tonga, and the Independent State of Samoa under the National Guard Bureau’s State Partnership Program, strengthening security cooperation globally. 

    The Pacific Partnership Act would strengthen these crucial ties by creating a “Strategy for Pacific Partnership”.

    This strategy, crafted by the President and presented to Congress every four years, would outline U.S. involvement in the Pacific Islands and highlight combined efforts to combat regional challenges including natural disasters, security threats, and economic development. 

    Read the full bill here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Warner Joins Colleagues in Resolution to Condemn Trump’s $400 Million Airplane Gift from Qatar

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON — Today, Vice Chairman of the Senate Select Committee on Intelligence Mark R. Warner (D-VA) joined 26 of his colleagues in introducing a resolution to condemn the gift of a luxury airplane, valued at $400 million, President Donald Trump announced he will receive from the government of Qatar. According to reports, Trump intends to designate the plane as Air Force One while in office and then transfer it to a foundation for personal use following the end of his term.

    In addition to Sen. Warner, this resolution is sponsored by Democratic Minority Leader Chuck Schumer (D-NY), and Sens. Brian Schatz (D-HI), Chris Coons (D-DE), Cory Booker (D-NJ), Chris Murphy (D-CT), Jon Ossoff (D-GA), Bernie Sanders (I-VT), Patty Murray (D-WA), Ron Wyden (D-OR), Alex Padilla (D-CA), Jacky Rosen (D-NV), Chris Van Hollen (D-MD), Maria Cantwell (D-WA), Jeanne Shaheen (D-NH), Mazie K. Hirono (D-HI), Dick Durbin (D-IL), Michael Bennet (D-CO), Gary Peters (D-MI), Lisa Blunt Rochester (D-DE), Elissa Slotkin (D-MI), Angus King (I-ME), Amy Klobuchar (D-MN), Tammy Duckworth (D-IL), Jeff Merkley (D-OR), Angela Alsobrooks (D-MD), and Andy Kim (D-NJ). Earlier today, the senators attempted to pass this legislation through the Senate by unanimous consent, but were blocked by Republicans.

    “This is corruption plain and simple. The President of the United States accepting a $400 million plane from a foreign government is unheard of, and would require direct consent from Congress,” Sen. Warner said. “This is just the latest act by President Trump that shows his administration has no regard for the rule of law and is ripe to be exploited by foreign actors.”

    “President Trump’s penchant for corruption and grift has risen to a new level with the news his presidency is for sale – if you happen to have $400 million dollars,” Leader Schumer said. “This Qatari plane deal would be the largest Presidential bribe in modern history and it’s not just naked corruption, it’s a grave national security threat. Senate Republicans may bury their heads in the sand while Trump tries to enrich himself and his billionaire buddies, but Senate Democrats are going to stand up for the American people and say enough is enough – we condemn this attempt at corruption and gross violation of the Constitution.”

    “Air Force One is more than just a plane — it’s a symbol of the presidency and of the United States itself,” Sen. Schatz said. “Any president who accepts this kind of gift, valued at $400 million, from a foreign government creates a clear conflict of interest, raises serious national security questions, invites foreign influence, and undermines public trust in our government. We are asking the Senate to vote to reiterate a basic principle: no president should use public service for personal gain through foreign gifts.”

    “We wouldn’t trust another country to decorate the Oval Office, to set up our Situation Room, or to wire the White House briefing room, so why would we let another country build Air Force One for us, which is an airborne version of all three? This isn’t just a massive act of corruption, it’s a national security risk of the highest order,” Sen. Coons said. “If President Trump is so willing to put his own administration in danger for the sake of a $400 million gift, imagine how much danger he’s willing to put the American people in.

    “While Republicans plot to gut vital services like Social Security and Medicaid and unleash economic uncertainty onto hardworking Americans, Donald Trump is planning to accept a luxury jet, valued at $400 million, from a foreign government,” Sen. Booker said. “This not only creates a clear conflict of interest, raises serious national security concerns, and undermines public trust in our government, but is a slap in the face to the people across the country who are struggling to make ends meet. All Senators should be able to agree that no one should use public service for personal gain through foreign gifts. I hope my Republican colleagues will support this resolution.”

    “The president doesn’t get to trade U.S. foreign policy and national security for a private jet,” Sen. Murphy said. “This resolution sends the message Trump won’t: the Oval Office is not for sale.

    “No, Donald Trump cannot accept a $400 million flying palace from the royal family of Qatar. Not only is this farcically corrupt, it is blatantly unconstitutional,” Sen. Sanders said. “Congress must not allow this over-the-top kleptocracy to proceed.”

    “President Trump wants to accept a $400 million private jet from a foreign government, have American taxpayers pay to retrofit it as Air Force One, and then keep it for himself to jet around the world as soon as he leaves office. It’s hard to imagine more brazen corruption or a clearer violation of our Constitution’s Emoluments Clause, and there’s no question this outlandish proposal puts our country’s national security at risk,” Sen. Murray said. “Every member of Congress should support this simple resolution condemning violations of the Emoluments Clause and making clear Trump cannot accept a $400 million private jet from Qatar without explicit consent from Congress.”

    “If someone came to one of my town halls in Oregon and tried to argue that getting a $400 million jet from the government of Qatar wasn’t corruption, they would be laughed out of town,” Sen. Wyden said. “Instead of securing new allies against adversaries like China or opening new markets for American products, Trump is using America’s clout to get a private jet. It’s corruption plain and simple that fritters away American influence and leaves us weaker.” 

    “While Republicans in Congress are working to gut Medicaid and Social Security, President Trump is brazenly accepting a luxury jumbo jet from Qatar — for his use during and after he leaves office,” Sen. Padilla said. “Once again, Trump is showing us that he puts his own interests above those of the American people, benefiting himself and leaving working families behind. This foreign gift reeks of corruption, is blatantly against the law, threatens our national security, and will cost taxpayers tens of millions in retrofit costs and security upgrades.”

    “Donald Trump is accepting a multimillion dollar plane from a foreign government as a personal gift, while clearly ignoring the Constitution,” Sen. Rosen said. “Trump gets richer off of his position while hardworking families suffer from his reckless actions. This is corruption plain and simple, and I’m supporting this resolution to make our strong opposition clear.” 

     “Trump’s brazen willingness to accept a luxury jet from Qatar raises the dangerous prospect that the president can be bought and paid for by foreign powers — putting their interests over Americans’ and our national security. Every Senator should join us in rejecting it and blocking the sale of the presidency to the highest bidder,” Sen Van Hollen said.

    “Our founding fathers knew that we must protect ourselves from corruption and foreign influence, which is exactly why we have a constitutional provision prohibiting presidents from accepting lavish gifts from foreign governments—a super luxury Boeing 747-8 jumbo jet, reportedly valued at $400 million, is no exception,” Sen. Shaheen said. “Congress and the American public have a right to know the details of any arrangement that calls into question whether the President is acting on behalf of American interests and American interests alone. Further, the security implications of taking a foreign-owned and managed plane and outfitting it with the most sensitive U.S. technology continues to demonstrate a lack of judgement in this administration when it comes to guarding U.S. intelligence.”

    “There’s no such thing as a $400 million “no-strings-attached” gift,” Sen. Duckworth said. “This is the mother of all bribes. It puts our national security in jeopardy and erodes public trust—all for the President’s own personal gain. Donald Trump wants to sell our foreign policy and sell out our people.”

    “Donald Trump accepting a $400 million gift from a foreign country is corruption in plain sight,” Sen. Hirono said. “Trump’s latest grift undermines our national security, flies in the face of the Constitution, and will cost American taxpayers hundreds of millions, if not billions, in retrofits.”

    “The mere notion that the President would cravenly accept a $400 million attempt to win favor from a foreign power is beyond the pale and reeks of corruption.  The White House and presidency are sacred trusts from the American people, not venues for Trump to enrich himself and his family with shady deals and influence buying,” Sen. Durbin said. “Our resolution reaffirms what our Constitution makes clear – no President should receive gifts from a foreign power.”

    “While President Trump claims to target fraud and abuse, his actions continue to prove that his priorities are his own interests and those of his wealthy friends,” Sen. Bennet said. “His plan to accept a $400 million luxury jet from the Qatari government for use as Air Force One is an act of blatant corruption and a violation of our Constitution that poses severe counterintelligence risks, needlessly undermining U.S. national security.”

    “This is corruption in plain sight. Under no circumstance should a sitting president be accepting luxury gifts from a foreign government, especially while negotiating an arms sale,” Sen. Blunt Rochester said. “This is yet another example of President Trump focusing on enriching himself rather than improving the lives of everyday Americans. I’m joining with my colleagues on this resolution to protect national security, to stand up for our constituents, and to uphold the rule of law.”

    “If an ordinary government official accepted a gift even a fraction as valuable as this, there would be a full investigation, and potential firings due to concerns of foreign influence,” Sen. Slotkin said. “Now the President is taking a $400 million foreign gift. Beyond the perception of corruption, the idea that a foreign country would have access to Air Force One, as the buyer, during production, leaves it incredibly vulnerable to bugs, tracking devices, and whatever else they or other countries may attempt to manipulate.”

    “This is corruption, plain and simple. The U.S. is not for sale, and we cannot allow the presidency to be bought by foreign interests,” Sen. Klobuchar said.

    “Just when you think the Trump Administration can’t sink to a new low of ethical misconduct, he accepts a luxury jet from a foreign nation. Corruption on full display,” Sen. Merkley said.

    “We’re beyond foreign interference at this point. We’re watching a President invite a foreign government to buy him off,” Sen. Alsobrooks said. “American values are actively being flushed down the toiled by this corrupt President.”

    The full text of the resolution is available here.

    MIL OSI USA News –

  • MIL-OSI: Peyto Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 13, 2025 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (TSX: PEY) (“Peyto” or the “Company”) is pleased to report operating and financial results for the first quarter of 2025.

    Q1 2025 Highlights:

    • Peyto reported $225.2 million in funds from operations1,2 (“FFO”), or $1.12/diluted share, and generated $120.2 million of free funds flow3 in the quarter.  Strong FFO was driven by a realized natural gas price after hedging of $4.17/Mcf, 89% higher than the AECO 7A monthly benchmark, and the Company’s industry-leading low cash costs4.      
    • Earnings for the quarter totaled $114.1 million, or $0.57/diluted share, and Peyto returned $65.7 million as dividends to shareholders.
    • Net debt5 was reduced by $65.7 million from December 31, 2024 to $1.28 billion at the end of the quarter.
    • First quarter production volumes averaged 133,883 boe/d (710.5 MMcf/d of natural gas, 15,473 bbls/d of NGLs), a 7% increase year over year (5% on a per share basis), driven by strong well results from the Company’s capital program.
    • Recorded $50.8 million in realized hedging gains and exited the quarter with a hedge position protecting approximately 489 MMcf/d and 406 MMcf/d of natural gas production for Q2–Q4 2025 and 2026, respectively, at approximately $4/Mcf. Peyto’s natural gas and liquid hedging has secured approximately $875 million of revenue for 2025 and $605 million for 2026.
    • Cash costs totaled $1.42/Mcfe for the quarter, including royalties of $0.25/Mcfe, operating expense of $0.53/Mcfe, transportation of $0.29/Mcfe, G&A of $0.06/Mcfe and interest expense of $0.29/Mcfe. Peyto continues to have the lowest cash costs of Canadian producers in the oil and natural gas industry.
    • Total capital expenditures6 of $102.1 million in the quarter.  Peyto drilled 19 wells (18.2 net), completed 13 wells (13.0 net), and brought 14 wells (14.0 net) on production.    
    • Peyto delivered a solid operating margin7 of 71% and profit margin8 of 32%, resulting in a 10% return on capital employed9 (“ROCE”) and an 11% return on equity9 (“ROE”), on a trailing 12-month basis.        

    First Quarter 2025 in Review

    Peyto was active in the quarter with four drilling rigs in the Greater Sundance and Brazeau areas, as well as with pipeline and compression projects that expanded the existing gathering systems to accommodate incremental production volumes.  Natural gas prices recovered in the quarter due to large draws on storage inventories from a relatively cold North American winter, coupled with increased U.S. LNG feed gas demand.  The AECO 7A monthly gas price rose 39% from Q4 2024 and averaged $1.92/GJ.  Peyto’s realized gas price, before hedging, averaged $3.34/Mcf ($2.90/GJ), 51% higher than AECO 7A, driven by the Company’s diversification to premium demand markets in the US and Canada. Additionally, the Company recorded $0.83/Mcf of realized hedging gains on its gas volumes in the quarter from its mechanistic risk management strategy.  All in, Peyto’s realized gas price after hedging totaled $4.17/Mcf or 89% higher than AECO 7A monthly price.  The increased realized gas price, combined with Peyto’s low cost structure, boosted FFO by 13% from Q4 2024 to $225.2 million, which funded $102.1 million of capital expenditures, $65.7 million of shareholder dividends and allowed for a $65.7 million reduction in net debt in the quarter. 

    _________________________________________________

    1This press release contains certain non-GAAP and other financial measures to analyze financial performance, financial position, and cash flow including, but not limited to “operating margin”, “profit margin”, “return on capital”, “return on equity”, “netback”, “funds from operations”, “free funds flow”, “total cash costs”, and “net debt”. These non-GAAP and other financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other entities. The non-GAAP and other financial measures should not be considered to be more meaningful than GAAP measures which are determined in accordance with IFRS, such as earnings, cash flow from operating activities, and cash flow used in investing activities, as indicators of Peyto’s performance. See “Non-GAAP and Other Financial Measures” included at the end of this press release and in Peyto’s most recently filed MD&A for an explanation of these financial measures and reconciliation to the most directly comparable financial measure under IFRS.
    2Funds from operations is a non-GAAP financial measure. See “non-GAAP and Other Financial Measures” in this news release and in the Q1 2025 MD&A.
    3Free funds flow is a non-GAAP financial measure. See “non-GAAP and Other Financial Measures” in this news release and in the Q1 2025 MD&A.
    4Cash costs is a non-GAAP financial measure. See “non-GAAP and Other Financial Measures” in this news release.
    5Net debt a non-GAAP financial measure. See “non-GAAP and Other Financial Measures” in this news release and in the Q1 2025 MD&A.
    6Total capital expenditures is a non-GAAP financial measure. See “non-GAAP and Other Financial Measures” in this news release and in the Q1 2025 MD&A.
    7Operating Margin is a non-GAAP financial ratio. See “non-GAAP and Other Financial Measures” in this news release.
    8Profit Margin is a non-GAAP financial ratio. See “non-GAAP and Other Financial Measures” in this news release.
    9Return on capital employed and return on equity are non-GAAP financial ratios. See “non-GAAP and Other Financial Measures” in this news release.

      Three Months Ended Mar 31 %
      2025 2024 Change
    Operations      
    Production      
    Natural gas (Mcf/d) 710,459 647,234 10%
    NGLs (bbl/d) 15,473 17,145 -10%
    Thousand cubic feet equivalent (Mcfe/d @ 1:6) 803,299 750,105 7%
    Barrels of oil equivalent (boe/d @ 6:1) 133,883 125,018 7%
    Production per million common shares (boe/d) 673 643 5%
    Product prices      
    Realized natural gas price – after hedging and diversification ($/Mcf) 4.17 4.05 3%
    Realized NGL price – after hedging ($/bbl) 62.97 60.36 4%
    Net sales price(2) ($/Mcfe) 4.90 4.87 1%
    Royalties ($/Mcfe) 0.25 0.24 4%
    Operating ($/Mcfe) 0.53 0.55 -4%
    Transportation ($/Mcfe) 0.29 0.30 -3%
    Field netback(1) ($/Mcfe) 3.88 3.82 2%
    General & administrative expenses ($/Mcfe) 0.06 0.06 0%
    Interest expense ($/Mcfe) 0.29 0.36 -19%
    Financial ($000, except per share)      
    Natural gas and NGL sales including realized hedging gains(2) 354,268 332,541 7%
    Funds from operations(1) 225,218 204,622 10%
    Funds from operations per share – basic(1) 1.13 1.05 8%
    Funds from operations per share – diluted(1) 1.12 1.05 7%
    Total dividends 65,676 64,158 2%
    Total dividends per share 0.33 0.33 0%
    Earnings 114,117 99,875 14%
    Earnings per share – basic 0.57 0.51 12%
    Earnings per share – diluted 0.57 0.51 12%
    Total capital expenditures(1) 102,129 113,762 -10%
    Decommissioning expenditures 2,872 4,206 -32%
    Total payout ratio(1) 76% 89% -15%
    Weighted average common shares outstanding – basic 199,017,749 194,416,710 2%
    Weighted average common shares outstanding – diluted 200,359,842 195,159,389 3%
           
    Net debt(1) 1,282,891 1,339,558 -4%
    Shareholders’ equity 2,593,128 2,683,990 -3%
    Total assets 5,356,226 5,373,202 0%
           

    (1) This is a Non-GAAP financial measure or ratio. See “non-GAAP and Other Financial Measures” in this news release and in the Q1 2025 MD&A
    (2) Excludes marketing revenue and other income

    Capital Expenditures

    Peyto drilled 19 gross (18.2 net) horizontal wells in the first quarter including 10 Wilrich, 1 Falher, 4 Notikewin, 3 Dunvegan, and 1 Cardium well in the core Brazeau and Sundance areas. The Company also completed 13 gross (13.0 net) wells and brought 14 gross (14.0 net) wells on production in the quarter resulting in total well-related capital expenditures of $85.6 million. Additionally, Peyto invested $15.5 million in gathering and processing facilities that included optimization projects and a pipeline to connect third-party volumes to Peyto’s Brazeau plant for long-term fee income. First quarter average drilling costs were slightly higher than the prior quarter, which was attributed to both cold weather operations and the execution of a uniquely over-pressured three-well pad in the Edson area. This was offset by lower completion costs, which fell 6% on a per-well basis from Q4 2024.

      2017 2018 2019 2020 2021 2022 2023 2024 2024
    Q1    		 2024
    Q2    		 2024
    Q3    		 2024
    Q4    		 2025 
    Q1(1)
    Gross Hz Spuds 135 70 61 64 95 95 72 75 18 20 21 16 19
    Measured Depth (m) 4,229 4,020 3,848 4,247 4,453 4,611 4891 5,092 5,220 5,364 4,804 4,987 4,976
                               
    Drilling ($MM/well) $1.90 $1.71 $1.62 $1.68 $1.89 $2.56 $2.85 $2.90 $3.05 $2.89 $2.81 $2.85 $3.01
    $ per meter $450 $425 $420 $396 $424 $555 $582 $569 $585 $539 $585 $572 $605
                               
    Completion ($MM/well) $1.00 $1.13 $1.01(2) $0.94 $1.00 $1.35 $1.54 $1.70 $1.80 $1.75 $1.56 $1.66 $1.56
    Hz Length (m) 1,241 1,348 1,484 1,682 1,612 1,661 1,969 2,184 2,223 2,350 2,224 1,989 1,961
    $ per Hz Length (m) $803 $751 $679 $560 $620 $813 $781 $776 $809 $744 $703 $834 $793
    $ ‘000 per Stage $81 $51 $38 $36 $37 $47 $52 $52 $55 $49 $48 $56 $56
                               

    (1) Based on field estimates and may be subject to minor adjustments going forward. 
    (2) Peyto’s Montney well is excluded from drilling and completion cost comparison.

    Peyto also spent $0.8 million during the quarter on acquiring mineral rights, seismic, and minor acquisitions.

    Commodity Prices and Realizations

    In the first quarter, Peyto realized a natural gas price after hedging and diversification of $4.17/Mcf, or $3.63/GJ, 89% higher than the average AECO 7A monthly benchmark of $1.92/GJ due to realized hedging gains and the Company’s market diversification to non-AECO hubs. Peyto’s natural gas hedging activity resulted in a realized gain of $0.83/Mcf ($53.0 million) in the quarter.

    Condensate and pentanes averaged $90.88/bbl for the quarter, down 1% year over year, while Canadian dollar WTI (“WTI CAD”) decreased 1% to $102.49/bbl over the same period. Other NGL volumes were sold at an average price of $32.41/bbl, or 32% of WTI CAD, up 3% from $31.37/bbl in Q1 2024. Peyto’s combined realized NGL price in the quarter was $64.56/bbl before hedging, and $62.97/bbl including a hedging loss of $1.59/bbl.

    Netbacks

    The Company’s realized natural gas and NGL sales yielded a combined revenue stream of $4.20/Mcfe before hedging gains of $0.70/Mcfe, resulting in a quarterly net sales price of $4.90/Mcfe, consistent with $4.87/Mcfe realized in Q1 2024. Cash costs totaled $1.42/Mcfe in the quarter, 6% lower than $1.51/Mcfe in Q1 2024 due to lower operating, transportation and interest costs. Operating costs are typically highest in the colder, first quarter and Peyto expects per-unit operating costs to trend downward throughout 2025. Peyto’s cash netback (net sales price including other income, net marketing revenue, realized gain on foreign exchange, less total cash costs) was $3.53/Mcfe, the highest since Q1 2023, driving a solid 71% operating margin. Historical cash costs and operating margins are shown in the following table:

      2022 2023 2024 2025
    ($/Mcfe) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4(2) Q1 Q2 Q3 Q4 Q1
    Revenue(1) 5.25 5.48 5.01 5.74 5.10 4.07 4.32 4.83 4.92 3.97 3.99 4.34 4.95
    Royalties 0.60 0.95 0.70 0.72 0.53 0.18 0.29 0.30 0.24 0.26 0.18 0.21 0.25
                               
    Op Costs 0.41 0.39 0.38 0.41 0.50 0.47 0.44 0.55 0.55 0.52 0.54 0.50 0.53
    Transportation 0.28 0.27 0.26 0.22 0.24 0.29 0.29 0.26 0.30 0.30 0.31 0.27 0.29
    G&A 0.03 0.02 0.02 0.02 0.03 0.05 0.04 0.06 0.06 0.06 0.03 0.05 0.06
    Interest 0.21 0.20 0.21 0.21 0.22 0.22 0.28 0.40 0.36 0.36 0.38 0.33 0.29
    Cash cost pre-royalty 0.93 0.88 0.87 0.86 0.99 1.03 1.05 1.27 1.27 1.24 1.26 1.15 1.17
                               
    Total Cash Costs10 1.53 1.83 1.57 1.58 1.52 1.21 1.34 1.57 1.51 1.50 1.44 1.36 1.42
    Cash Netback11 3.72 3.65 3.44 4.16 3.58 2.86 2.98 3.26 3.41 2.47 2.55 2.98 3.53
    Operating Margin 71% 67% 69% 72% 71% 70% 69% 67% 69% 62% 64% 69% 71%
                               

    (1) Revenue includes other income, net marketing revenue and realized gains on foreign exchange.
    (2) First quarter of Repsol assets included in Peyto’s results

    Depletion, depreciation, and amortization charges of $1.34/Mcfe, along with provisions for current tax, deferred tax, performance-based compensation and stock-based compensation resulted in earnings of $1.58 /Mcfe, or a 32% profit margin. Dividends to shareholders totaled $0.91/Mcfe.

    Hedging and Marketing

    The Company has been active in hedging future production with financial and physical fixed price contracts to protect a portion of its future revenue from commodity price and foreign exchange volatility. The following table summarizes Peyto’s hedge position for Q2–Q4 2025, calendar 2026, and calendar 2027.

      Q2 2025 Q3 2025 Q4 2025 2026 2027
    Natural Gas          
    Volume (MMcf/d) 510 510 447 406 61
    Average Fixed Price(1)($/Mcf) 3.90 3.90 4.32 3.99 4.05
    WTI Swaps          
    Volume (bbls/d) 5,000 3,800 2,400 745 –
    Average Fixed Price ($/bbl) 98.94 95.51 93.14 86.19 –
    WTI Collars          
    Volume (bbls/d) 500 500 500 248 –
    Put–Call ($/bbl) 90.00–100.25 90.00–110.00 90.00–100.50 87.50–100.25 –
    Propane          
    Volume (bbls/d) 500 500 500 123 –
    Average Fixed Price (US$/bbl) 33.60 33.60 33.60 33.60 –
    USD FX Contracts          
    Amount sold (USD 000s) 69,000 63,000 47,000 112,500 –
    Rate (CAD/USD) 1.352 1.352 1.355 1.355 –

    (1) At 1.39 CAD/USD FX rate for USD contracts

    The Company’s fixed price contracts combined with its diversification to multiple hubs in North America allow for revenue security and support Peyto’s capital expenditure program, continued shareholder returns through dividends, and debt reduction.  Details of Peyto’s ongoing marketing and diversification efforts are available on Peyto’s website at https://www.peyto.com/Marketing.aspx.

    _________________________________________________

    10Total Cash costs is a non-GAAP financial ratio. See “non-GAAP and Other Financial Measures” in this news release.
    11Cash netback is a non-GAAP financial ratio. See “non-GAAP and Other Financial Measures” in this news release and in the Q1 2025 MD&A.

    Activity Update

    Since the start of the second quarter, Peyto has continued with an active drilling program across all core areas with 8 wells (6.7 net) drilled, 11 wells (9.4 net) completed, and 12 wells (12.0 net) brought on production. The Company intends to continue with a steady capital program through spring break-up and the rest of 2025.

    Last month, Peyto completed a third Falher well in Sundance, as a follow-up to the two wells that discovered a new channel last year. The results to date from these wells have demonstrated top decile internal rate of returns and the team has identified at least 20 additional locations on Peyto lands.  The Company plans to drill three more wells in the channel before the end of the year, which will help further delineate the trend and prove up productivity.

    Recently, the Company applied an alternate drilling technique and liner design on two low working-interest Cardium wells.  This technique, which targets drilling just below the Cardium sand, allowed Peyto to achieve significantly longer laterals while reducing per unit drill costs below historical levels in the area.  A cemented ball drop system allowed for the deployment of 60 stages in each well—a new record for Peyto.  Early results from these wells are encouraging and the Company plans to follow up with additional wells this year to further test the design.  With continued success, Peyto sees the opportunity to apply the new design to other Cardium inventory which comprises approximately 25% of the Company’s undrilled, booked reserves volumes.

    Beginning in April, Peyto commissioned a new pipeline to accept approximately 8 MMcf/d of natural gas from a third party at its Brazeau gas plant, relating to a multi-year gas processing agreement which utilizes spare capacity at the facility. This new pipeline also provides a future opportunity to serve other third-party volumes. 
      
    Outlook

    While the recent weakness in oil prices has a minimal effect on Peyto’s cash flow, it could be constructive to natural gas prices if the fall in oil prices lowers oil activity and associated gas production in the US. The Company remains bullish on forward natural gas prices with the recent start-up of US LNG export facilities and the ramp up of LNG Canada throughout 2025, combined with continued natural gas demand for AI driven data centres in North America. Further, Peyto is well-positioned with its hedge book and market diversification to provide shareholders with both revenue security and exposure to commodity price upside.  Over the next several years, the Company has significant volumes exposed to premium demand markets in the US and Canada, which offer a superior price above the current AECO market. 

    Despite the political volatility and global economic uncertainty, Peyto remains committed to its 2025 capital guidance of $450 to $500 million. The program is designed with flexibility in the back half of the year to adjust to changing commodity prices and the business environment. Peyto will manage production to minimize exposure to weaker priced markets, when necessary, while the Company’s systematic hedging and market diversification programs secure revenues to support future dividends and further strengthen the balance sheet.  

    Conference Call and Webcast

    A conference call will be held with senior management of Peyto to answer questions with respect to the Company’s Q1 2025 results on Wednesday, May 14, 2025, at 9:00 a.m. Mountain Time (MT), or 11:00 a.m. Eastern Time (ET).

    Access to the webcast can be found at: https://edge.media-server.com/mmc/p/svumnnnm.  To participate in the call, please register for the event at: Participant Call Link.  Participants will be issued a dial in number and PIN to join the conference call and ask questions. Alternatively, questions can be submitted prior to the call at info@peyto.com. The conference call will be available on the Peyto Exploration & Development website at www.peyto.com.

    Annual and Special Meeting

    Peyto’s Annual and Special Meeting of Shareholders is scheduled for 3:00 p.m. on Thursday, May 22, 2025, at the Eau Claire Tower, +15 level, 600 – 3rd Avenue SW, Calgary, Alberta. Shareholders are encouraged to read the Information Circular and vote in advance of the proxy voting deadline of Tuesday, May 20 at 3:00 p.m. (Calgary time) and attend this in-person meeting. Leading independent proxy advisory firms have recommended Peyto shareholders (“Shareholders”) vote “FOR” all the proposed resolutions.  Shareholders who have questions or need assistance with voting their shares should contact Peyto’s strategic advisor and proxy solicitation agent, Laurel Hill Advisory Group, by telephone at 1-877-452-7184 or by email at assistance@laurelhill.com. Shareholders who do not wish to attend are encouraged to visit the Peyto website at www.peyto.com where there is a wealth of information designed to inform and educate investors and where a copy of the AGM presentation will be posted. A monthly report from the President can also be found on the website which follows the progress of the capital program and the ensuing production growth.

    Management’s Discussion and Analysis

    A copy of the first quarter report to shareholders, including the MD&A, unaudited consolidated financial statements and related notes, is available at http://www.peyto.com/Files/Financials/2025/Q12025FS.pdf and at http://www.peyto.com/Files/Financials/2025/Q12025MDA.pdf and will be filed at SEDAR+, www.sedarplus.com at a later date.

    Jean-Paul Lachance                                                                                                                                           
    President & Chief Executive Officer                                                                                                                              
    May 13, 2025

    Phone:  (403) 261-6081
    Fax:      (403) 451-4100
    info@peyto.com

    Cautionary Statements

    Forward-Looking Statements

    This news release contains certain forward-looking statements or information (“forward-looking statements”) as defined by applicable securities laws that involve substantial known and unknown risks and uncertainties, many of which are beyond Peyto’s control. These statements relate to future events or the Company’s future performance. All statements other than statements of historical fact may be forward-looking statements. The use of any of the words “plan”, “expect”, “prospective”, “project”, “intend”, “believe”, “should”, “anticipate”, “estimate”, or other similar words or statements that certain events “may” or “will” occur are intended to identify forward-looking statements. The projections, estimates and beliefs contained in such forward-looking statements are based on management’s estimates, opinions, and assumptions at the time the statements were made, including assumptions relating to: macro-economic conditions, including public health concerns and other geopolitical risks, the condition of the global economy and, specifically, the condition of the crude oil and natural gas industry, and the ongoing significant volatility in world markets; other industry conditions; changes in laws and regulations including, without limitation, the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; increased competition; the availability of qualified operating or management personnel; fluctuations in other commodity prices, foreign exchange or interest rates; stock market volatility and fluctuations in market valuations of companies with respect to announced transactions and the final valuations thereof; results of exploration and testing activities; and the ability to obtain required approvals and extensions from regulatory authorities. Management of the Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Peyto will derive from them. As such, undue reliance should not be placed on forward-looking statements. Forward-looking statements contained herein include, but are not limited to, statements regarding: management’s assessment of Peyto’s future plans and operations, including the 2025 capital expenditure program, drilling plans relating to the Falher discovery at Sundance and the additional wells planned using the alternate drilling technique in the Cardium; the expectation that per-unit operating costs will trend lower in 2025; the expectation that recent weakness in oil prices will have minimal effect on Peyto and could be constructive if lower oil activity decreases associated gas; LNG and AI data centres increasing natural gas demand and setting up a bullish price environment; the sustainability of the Company’s dividend; the effectiveness of the Company’s hedging program at securing revenue; the timing of Peyto’s annual general meeting; and the Company’s overall strategy and focus.

    The forward-looking statements contained herein are subject to numerous known and unknown risks and uncertainties that may cause Peyto’s actual financial results, performance or achievement in future periods to differ materially from those expressed in, or implied by, these forward-looking statements, including but not limited to, risks associated with: continued changes and volatility in general global economic conditions including, without limitations, the economic conditions in North America and public health concerns; continued fluctuations and volatility in commodity prices, foreign exchange or interest rates; continued stock market volatility; imprecision of reserves estimates; competition from other industry participants; failure to secure required equipment; increased competition; the lack of availability of qualified operating or management personnel; environmental risks; changes in laws and regulations including, without limitation, the adoption of new environmental and tax laws, tariffs, and regulations and changes in how they are interpreted and enforced; the results of exploration and development drilling and related activities; and the ability to access sufficient capital from internal and external sources.  In addition, to the extent that any forward-looking statements presented herein constitutes future-oriented financial information or financial outlook, as defined by applicable securities legislation, such information has been approved by management of Peyto and has been presented to provide management’s expectations used for budgeting and planning purposes and for providing clarity with respect to Peyto’s strategic direction based on the assumptions presented herein and readers are cautioned that this information may not be appropriate for any other purpose.  Readers are encouraged to review the material risks discussed in Peyto’s latest annual information form under the heading “Risk Factors” and in Peyto’s annual management’s discussion and analysis under the heading “Risk Factors”.

    The Company cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Peyto’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Peyto will derive there from.  The forward-looking statements, including any future-oriented financial information or financial outlook, contained in this news release speak only as of the date hereof and Peyto does not assume any obligation to publicly update or revise them to reflect new information, future events or circumstances or otherwise, except as may be required pursuant to applicable securities laws.

    Barrels of Oil Equivalent

    To provide a single unit of production for analytical purposes, natural gas production and reserves volumes are converted mathematically to equivalent barrels of oil (BOE). Peyto uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). The 6:1 BOE ratio is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead and is not based on current prices. While the BOE ratio is useful for comparative measures and observing trends, it does not accurately reflect individual product values and might be misleading, particularly if used in isolation. As well, given that the value ratio, based on the current price of crude oil to natural gas, is significantly different from the 6:1 energy equivalency ratio, using a 6:1 conversion ratio may be misleading as an indication of value.

    Thousand Cubic Feet Equivalent (Mcfe)

    Natural gas volumes recorded in thousand cubic feet (mcf) are converted to barrels of oil equivalent (boe) using the ratio of six (6) thousand cubic feet to one (1) barrel of oil (bbl).  Natural gas liquids and oil volumes in barrel of oil (bbl) are converted to thousand cubic feet equivalent (Mcfe) using a ratio of one (1) barrel of oil to six (6) thousand cubic feet.  This could be misleading, particularly if used in isolation as it is based on an energy equivalency conversion method primarily applied at the burner tip and does not represent a value equivalency at the wellhead.

    Non-GAAP and Other Financial Measures

    Throughout this press release, Peyto employs certain measures to analyze financial performance, financial position, and cash flow. These non-GAAP and other financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other entities. The non-GAAP and other financial measures should not be considered to be more meaningful than GAAP measures which are determined in accordance with IFRS, such as net income (loss), cash flow from operating activities, and cash flow used in investing activities, as indicators of Peyto’s performance.

    Non-GAAP Financial Measures

    Funds from Operations
    “Funds from operations” is a non-GAAP measure which represents cash flows from operating activities before changes in non-cash operating working capital, decommissioning expenditure, provision for performance-based compensation and transaction costs.  Management considers funds from operations and per share calculations of funds from operations to be key measures as they demonstrate the Company’s ability to generate the cash necessary to pay dividends, repay debt and make capital investments.  Management believes that by excluding the temporary impact of changes in non-cash operating working capital, funds from operations provides a useful measure of Peyto’s ability to generate cash that is not subject to short-term movements in operating working capital.  The most directly comparable GAAP measure is cash flows from operating activities.

      Three Months Ended March 31
    ($000) 2025 2024
    Cash flows from operating activities 219,116 196,829
    Change in non-cash working capital 730 3,587
    Decommissioning expenditures 2,872 4,206
    Performance-based compensation 2,500 –
    Funds from operations 225,218 204,622
         

    Free Funds Flow
    Peyto uses “free funds flow” as an indicator of the efficiency and liquidity of Peyto’s business, measuring its funds after capital investment available to manage debt levels, pay dividends, and return capital to shareholders through activities such as share repurchases. Peyto calculates free funds flow as cash flows from operating activities before changes in non-cash operating working capital, provision for performance-based compensation, and transaction costs, less total capital expenditures, allowing Management to monitor its free funds flow to inform its capital allocation decisions.  The most directly comparable GAAP measure to free funds flow is cash from operating activities. The following table details the calculation of free funds flow and the reconciliation from cash flow from operating activities to free funds flow.

      Three Months Ended March 31
    ($000) 2025 2024
    Cash flows from operating activities  219,116  196,829
    Change in non-cash working capital  730  3,587
    Performance-based compensation  2,500  –  
    Total capital expenditures  (102,129)  (113,762)
    Free funds flow  120,217  86,654
         

    Total Capital Expenditures
    Peyto uses the term “total capital expenditures” as a measure of capital investment in exploration and production activity, as well as property acquisitions and divestitures, and such spending is compared to the Company’s annual budgeted capital expenditures. The most directly comparable GAAP measure for total capital expenditures is cash flow used in investing activities. The following table details the calculation of cash flow used in investing activities to total capital expenditures.

       Three Months Ended March 31
      2025 2024
    Cash flows used in investing activities  103,321  97,634
    Change in prepaid capital  (431)  (4,653)
    Change in non-cash working capital relating to investing activities  (761)  20,781
    Total capital expenditures  102,129  113,762
         

    Net Debt
    “Net debt” is a non-GAAP financial measure that is the sum of long-term debt and working capital excluding the current financial derivative instruments, current portion of lease obligations and current portion of decommissioning provision.  It is used by management to analyze the financial position and leverage of the Company. Net debt is reconciled to long-term debt which is the most directly comparable GAAP measure.

    ($000) March 31, 2025 December 31, 2024 March 31, 2024
    Long-term debt 1,171,497 1,295,238 1,296,844
    Current assets (269,336) (394,517) (403,467)
    Current liabilities 361,267 269,609 260,380
    Financial derivative instruments – current 29,913 188,136 194,917
    Current portion of lease obligation (950) (936) (1,322)
    Decommissioning provision – current (9,500) (8,956) (7,794)
    Net debt 1,282,891 1,348,574 1,339,558
           

    Net marketing revenue
    Peyto uses the term “net marketing revenue” to evaluate the profitability of products purchased from third parties that are resold. Net marketing revenue is calculated as marketing revenue less marketing purchases. 

      Three Months Ended March 31
    ($000) 2025 2024
    Marketing revenue 8,342 25,851
    Marketing purchases (7,283) (26,238)
    Net marketing revenue 1,059 (387)
         

    Non-GAAP Financial Ratios

    Funds from Operations per Share
    Peyto presents funds from operations per share by dividing funds from operations by the Company’s diluted or basic weighted average common shares outstanding. “Funds from operations” is a non-GAAP financial measure. Management believes that funds from operations per share provides investors an indicator of funds generated from the business that could be allocated to each shareholder’s equity position.

    Netback per MCFE and BOE
    “Netback” is a non-GAAP measure that represents the profit margin associated with the production and sale of petroleum and natural gas.  Peyto computes “field netback per Mcfe” as commodity sales from production, plus net marketing revenue, if any, plus other income, less royalties, operating, and transportation expenses, divided by production.  “Cash netback” is calculated as “field netback” less interest, less general and administration expense and plus or minus realized gain on foreign exchange, divided by production.  “After-tax cash netback” is calculated as “cash netback” less current tax, divided by production. Netbacks are per-unit-of-production measures used to assess Peyto’s performance and efficiency. 

      Three Months Ended March 31 
    ($/Mcfe) 2025 2024
    Gross sale price 4.20 3.50
    Realized hedging gain 0.70 1.37
    Net sale price 4.90 4.87
    Net marketing revenue 0.02 (0.01)
    Other income 0.03 0.05
    Royalties (0.25) (0.24)
    Operating costs (0.53) (0.55)
    Transportation (0.29) (0.30)
    Field netback 3.88 3.82
    Net general and administrative (0.06) (0.06)
    Interest and financing (0.29) (0.36)
    Realized gain on foreign exchange – 0.01
    Cash netback ($/Mcfe) 3.53 3.41
    Current tax ($/Mcfe) (0.41) (0.42)
    After-tax cash netback ($/Mcfe) 3.12 2.99
    After-tax cash netback ($/boe) 18.69 17.99
         

    Net marketing revenue per Mcfe
    “Net marketing revenue per Mcfe” is comprised of marketing revenue less marketing purchases, as determined in accordance with IFRS, divided by the Company’s total production.

    Total Payout Ratio
    “Total payout ratio” is a non-GAAP measure which is calculated as the sum of dividends declared plus total capital expenditures plus decommissioning expenditures, divided by funds from operations.  This ratio represents the percentage of the capital expenditures and dividends that is funded by cashflow.  Management uses this measure, among others, to assess the sustainability of Peyto’s dividend and capital program.

      Three Months Ended March 31
    ($000, except total payout ratio) 2025 2024
    Total dividends declared 65,676 64,158
    Total capital expenditures 102,129 113,762
    Decommissioning expenditures 2,872 4,206
    Total payout 170,677 182,126
    Funds from operations 225,218 204,622
    Total payout ratio (%) 76% 89%
         

    Operating Margin
    Operating Margin is a non-GAAP financial ratio defined as funds from operations, before current tax, divided by revenue before royalties but including realized hedging gains/losses other income and third-party sales net of purchases.

    Profit Margin
    Profit Margin is a non-GAAP financial ratio defined as net earnings divided by revenue before royalties but including realized hedging gains/losses, other income and third-party sales net of purchases.

    Cash Costs
    Cash costs is a non-GAAP financial ratio defined as the sum of royalties, operating expenses, transportation expenses, G&A and interest, on a per Mcfe basis.  Peyto uses total cash costs to assess operating margin and profit margin.

    The MIL Network –

  • MIL-OSI: Freehold Royalties Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 13, 2025 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces first quarter results for the period ended March 31, 2025.

    First Quarter 2025 Highlights

    • $91 million in revenue;
    • $68 million in funds from operations ($0.42/share) (1)(3);
    • $44 million in dividends paid ($0.27/share)(2);
    • 10,635 bbls/d of total liquids production, an 8% increase from previous quarter driven by continued execution of our U.S. expansion strategy and heavy oil growth in Canada;
    • 16,248 boe/d of total production, a 6% increase from previous quarter with a 65% weighting to oil and natural gas liquids (NGLs), an increase from 63% in Q1-2024;
    • Gross drilling of 322 wells, up 12% from Q4-2024;
    • Robust leasing with 25 new leases signed (14 in Canada; 11 in the U.S.) contributing $3.9 million in revenue with the U.S. contributing a record $3.3 million in lease bonus; and
    • $59.29/boe average realized price ($72.64/boe in the U.S. and $49.26/boe in Canada);
      • 47% pricing premium on Freehold’s U.S. production reflecting higher liquids weighting, higher quality crude oil and reduced transportation costs to get product to market.

    President’s Message

    Freehold’s Q1-2025 production of 16,248 boe/d is at the highest levels in our corporate history, in step with the high quality acquisition work completed in late 2024. The deliberate and strategic build out of our North American royalty portfolio has resulted in a balanced revenue base with Canada contributing 46% of revenue in Q1-2025 and the U.S. contributing 54%. On a volume basis the U.S. represented 43% of our production with premium pricing and higher liquids weighting driving an outsized revenue contribution. Our focus on acquiring mineral title interests in prospect rich basins has contributed to the record level of leasing this quarter in our core U.S. operating areas.

    Freehold’s oil weighted portfolio, underpinned by premium operators in select basins across North America, delivered significant value to the Company and our shareholders with $68 million of funds from operations(3) in the quarter, or $0.42/share. Included in our funds from operations was record leasing results with $3.9 million in revenue, including $3.3 million in U.S. leasing revenue. Notably, the majority of the U.S. leases signed in Q1-2025 are targeting the deeper Barnett formation of the Permian basin that is in the early stages of development.

    Liquids production increased 8% over Q4-2024 and 15% compared to Q1-2024. The increase is largely attributed to the December 2024 Midland basin acquisition and continued growth in our heavy oil portfolio which grew 7% over Q4-2024 and is up 19% compared to Q1-2024. Our U.S. portfolio continues to be led by consistent drilling activity by some of the highest quality payors in North America who are executing on their multi-year growth plans.

    We are maintaining our production guidance range of 15,800 boe/d to 17,000 boe/d for 2025E. The global macro environment has shifted since the end of the first quarter and how that may impact operator plans for the remainder of 2025 is unknown at this point. The industry is in excellent shape to manage commodity price volatility due to the capital discipline and prudent balance sheet management approach over the past number of years. Contributing to this is our positioning in the lowest break-even plays across North America under investment grade operators who take a long term, measured view to capital planning.

    David M. Spyker, President and Chief Executive Officer

    Dividend Announcement

    The board of directors of Freehold has declared a monthly dividend of $0.09 per share to be paid on June 16, 2025, to shareholders of record on May 30, 2025. The dividend is designated as an eligible dividend for Canadian income tax purposes.

    Operating and Financial Highlights

          Three Months Ended
    FINANCIAL ($ millions, except as noted) Q1-2025 Q4-2024 Q1-2024
    West Texas Intermediate (US$/bbl) 71.42   70.27   76.96  
    AECO 7A Monthly Index (Cdn$/Mcf) 2.02   1.46   2.07  
    Royalty and other revenue 91.1   76.9   74.3  
    Funds from operations (3) 68.1   61.3   54.4  
    Funds from operations per share, basic ($) (1)(3) 0.42   0.40   0.36  
    Dividends paid per share ($) (2) 0.27   0.27   0.27  
    Dividend payout ratio (%) (3) 65 % 66 % 75 %
    Long-term debt 294.3   300.9   223.6  
    Net debt (5)(6) 272.2   282.3   210.5  
    Net debt to trailing funds from operations (times) (5) 1.1x
    		   1.2x   0.9x  
    OPERATING        
    Total production (boe/d) (4) 16,248   15,306   14,714  
    Canadian production (boe/d)(4) 9,278   9,437   9,593  
    U.S. production (boe/d)(4) 6,970   5,869   5,121  
    Oil and NGL (%) 65 % 65 % 63 %
    Petroleum and natural gas realized price ($/boe) (4) 59.29   53.80   54.81  
    Cash costs ($/boe) (3)(4) 7.00   5.93   7.19  
    Netback ($/boe) (3) (4) 53.01   47.25   46.62  
    ROYALTY INTEREST DRILLING (gross / net)        
    Canada 92 / 3.9
    		   110 / 3.6   132 / 5.9  
    U.S. 230 / 0.8
    		   178 / 0.6   168 / 0.5  

    (1) Calculated based on the basic weighted average number of shares outstanding during the period
    (2) Based on the number of shares issued and outstanding at each record date
    (3) See Non-GAAP and Other Financial Measures
    (4) See Conversion of Natural Gas to Barrels of Oil Equivalent (boe)
    (5) Net debt and net debt to trailing funds from operations are capital management measures

    First Quarter Summary

    • Average production of 16,248 boe/d, an increase of 10% over the first quarter of 2024 with year-over-year liquids growth of 15% to 10,635 bbls/d:
      • Light and medium oil was up 13% over Q1-2024 to 6,880 bbls/d, largely due to the high quality, oil weighted U.S. acquisitions completed in 2024; and
      • Heavy oil was up 19% over Q1-2024 to 1,552 bbls/d as Mannville Stack and Clearwater production on Freehold’s lands hit record highs in the first quarter.
    • Royalty and other revenue totalled $91.1 million, up 18% over the prior quarter and 23% year-over-year. Other revenue included $3.9 million in lease bonus consideration and lease rental revenue, a quarterly record for Freehold.
    • Freehold’s corporate realized price was $59.29/boe, an increase of 9% compared to Q4-2024 and 8% from Q1-2024 due to higher commodity prices and higher weighting to liquids production.
    • Funds from operations totalled $68.1 million ($0.42 per share)(1).
    • Freehold closed $13.8 million of land purchases in the first quarter, including $11 million of high quality undeveloped mineral title lands in our core Midland and Delaware basin properties.
    • Dividends declared for Q1-2025 of $44.3 million ($0.27 per share). Freehold’s dividend payout ratio(1) was 65% for Q1-2025. Freehold’s dividend remains sustainable at oil and natural gas prices well below current commodity price levels.
    • Net debt(1)(2) of $272.2 million at the end of Q1-2025 was reduced by $10.1 million compared to year end 2024, representing 1.1 times trailing funds from operations(2) during the period. Freehold remains conservatively levered.

    (1) See Non-GAAP and Other Financial Measures
    (2) Net debt and net debt to trailing funds from operations are capital management measures

    Q1-2025 Drilling and Leasing Activity

    In total, 322 gross wells (4.7 net wells) were drilled on Freehold’s royalty lands in Q1-2025, a 12% increase (12% on a net basis) compared to the previous quarter. The increase in drilling reflects the expansion of the Company’s U.S. asset base and the positioning of our assets in areas across North America that continue to attract drilling capital.

    On a gross basis, essentially all drilling was oil focused. Approximately 29% of gross wells drilled in Q1-2025 were in Canada and 71% targeted Freehold’s U.S. royalty acreage.

      Three Months Ended
      Q1-2025 Q4-2024 Q1-2024
      Gross Net (1) Gross Net (1) Gross Net (1)
    Canada 92 3.9 110 3.6 132 5.9
    United States 230 0.8 178 0.6 168 0.5
    Total 322 4.7 288 4.2 300 6.4

    (1)  Equivalent net wells are aggregate of the numbers obtained by multiplying each gross well by our royalty interest percentage; U.S. wells on Freehold’s lands generally come on production at approximately 10 times the volume that of an average Canadian well in our portfolio.

    Canada

    Canadian net drilling was up over the previous quarter despite the decline on a gross basis as higher interest wells in the Viking and mineral title drilling in southeast Saskatchewan and the Mannville Stack made up a higher percentage. Q1-2025 drilling in Canada was led again by oil weighted plays including Viking (33 gross wells), southeast Saskatchewan (12 gross wells) and Mannville Stack (9 gross wells).

    During Q1-2025, Freehold entered into 14 new leases with seven counterparties totalling approximately $0.6 million in bonus and lease rental revenue. The majority of the new leasing was focused in southeast Saskatchewan and the Mannville Stack.

    U.S.

    During Q1-2025, 230 gross (0.8 net) wells were drilled on our U.S. lands, up 29% on a gross basis and 33% on a net basis from previous quarter due to a larger footprint in the Midland basin following the December 2024 acquisition and increased activity in the Eagle Ford basin. Approximately 90% of Q1-2025 drilling was focused in the Permian basin and 10% in the Eagle Ford basin.

    U.S. wells typically come on production at approximately ten times that of an average Canadian well in the Company’s portfolio, making equivalent net well additions much more valuable in the U.S. compared to Canada. However, a U.S. well can take upwards of six to twelve months on average from initial license to first production, compared to three to four months in Canada.

    In Q1-2025, Freehold entered into 11 new U.S. leases with four counterparties, totalling $3.3 million of bonus and lease rental revenue. Leasing activity was predominantly focused on Freehold’s mineral title interests in the Midland and Delaware basins with one lease in the Haynesville basin.

    Normal Course Issuer Bid (NCIB) Application

    The Company plans to implement an NCIB, pursuant to which Freehold would be permitted to acquire up to 10% of its issued and outstanding common shares that comprise the public float (less common shares held by directors, executive officers and principal securityholders (holders holding greater than 10% of the issued and outstanding Shares) of the Company), through the facilities, rules and regulations of the TSX.

    The NCIB will be subject to receipt of certain approvals, including acceptance of the notice of intention to commence an NCIB by the TSX. The NCIB will commence following receipt of all such approvals and will continue until the earlier of: (i) a period of up to one-year; or (ii) the date on which the Company has acquired all common shares sought pursuant to the NCIB. Further particulars of the NCIB will be described in a subsequent press release when approved by the TSX.

    Freehold believes establishing a NCIB as part of its capital management strategy is in the best interests of the Company and provides an opportunity to deliver value to shareholders. Decisions regarding utilizing the NCIB will be based on market conditions, share price, best use of funds from operations and other factors including debt repayment and options to expand our portfolio of royalty assets.

    Annual Meeting of Shareholders

    Freehold’s annual meeting of shareholders (the AGM) will be conducted in person and via live audio webcast at 3:00 PM (MDT) on Wednesday May 14, 2025 at the Calgary Petroleum Club. Further details are available on our website at https://freeholdroyalties.com/investors/events-and-presentations.

    Conference Call Details

    A webcast to discuss financial and operational results for the period ended March 31, 2025, will be held for the investment community on Wednesday May 14, 2025, beginning at 7:00 AM MT (9:00 AM ET).

    A live audio webcast will be accessible through the link below and on Freehold’s website under “Events & Presentations” on Freehold’s website at www.freeholdroyalties.com. To participate in the conference call, you can register using the following link: Live Audio Webcast URL: https://edge.media-server.com/mmc/p/6y39yhx4.

    A dial-in option is also available and can be accessed by dialing 1-800-952-5114 (toll-free in North America) participant passcode is 5153824#.

    For further information contact

    Freehold Royalties Ltd.
    Todd McBride, CPA, CMA                     
    Investor Relations                                 
    t. 403.221.0833                                      
    e. tmcbride@freeholdroyalties.com        		  Nick Thomson, CFA
    Investor Relations & Capital Markets
    t. 403.221.0874                                          
    e. nthomson@freeholdroyalties.com
    Select Quarterly Information
      2025   2024 2023  
    Financial ($millions, except as noted) Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2
    Royalty and other revenue 91.1   76.9   73.9   84.5   74.3   80.1   84.2   73.7  
    Net Income (loss) 37.3   51.1   25.0   39.3   34.0   34.3   42.3   24.3  
    Per share, basic ($) (1) 0.23   0.33   0.17   0.26   0.23   0.23   0.28   0.16  
    Cash flows from operations 62.9   59.1   64.1   47.6   52.5   70.7   53.7   49.9  
    Funds from operations 68.1   61.3   55.7   59.6   54.4   62.8   65.3   53.0  
    Per share, basic ($) (1)(3) 0.42   0.40   0.37   0.40   0.36   0.42   0.43   0.35  
    Acquisitions & related expenditures 13.9   277.0   1.8   11.5   121.5   2.1   1.2   3.2  
    Dividends paid 44.3   40.7   40.7   40.7   40.7   40.7   40.7   40.7  
    Per share ($) (2) 0.27   0.27   0.27   0.27   0.27   0.27   0.27   0.27  
    Dividends declared 44.3   41.9   40.7   40.7   40.7   40.7   40.7   40.7  
    Per share ($) (2) 0.27   0.27   0.27   0.27   0.27   0.27   0.27   0.27  
    Dividend payout ratio (%) (3) 65 % 66 % 73 % 68 % 75 % 65 % 62 % 77 %
    Long-term debt 294.3   300.9   205.8   228.0   223.6   123.0   141.2   152.0  
    Net debt (5) 272.2   282.3   187.1   199.1   210.5   100.9   113.4   136.9  
    Shares outstanding, period end (000s) 164.0   164.0   150.7   150.7   150.7   150.7   150.7   150.7  
    Average shares outstanding, basic (000s) (6) 164.0   153.4   150.7   150.7   150.7   150.7   150.7   150.7  
    Operating                
    Light and medium oil (bbl/d) 6,880   6,296   6,080   6,551   6,094   6,308   6,325   6,093  
    Heavy oil (bbl/d) 1,552   1,516   1,315   1,348   1,300   1,182   1,127   1,167  
    NGL (bbl/d) 2,203   2,066   1,972   1,902   1,884   1,878   1,678   1,845  
    Total liquids (bbl/d) 10,635   9,878   9,367   9,801   9,278   9,368   9,130   9,105  
    Natural gas (Mcf/d) 33,678   32,564   31,447   32,524   32,617   32,968   32,851   33,372  
    Total production (boe/d) (4) 16,248   15,306   14,608   15,221   14,714   14,863   14,605   14,667  
    Oil and NGL (%) 65 % 65 % 64 % 64 % 63 % 63 % 63 % 62 %
    Petroleum & natural gas realized price ($/boe) (4) 59.29   53.80   54.36   59.74   54.81   57.94   61.55   54.05  
    Cash costs ($/boe) (3)(4) 7.00   5.93   5.42   9.80   7.19   4.73   5.10   7.19  
    Netback ($/boe) (3)(4) 53.01   47.25   47.78   49.44   46.62   52.59   55.63   46.07  
    Benchmark Prices                
    West Texas Intermediate crude oil (US$/bbl) 71.42   70.27   75.09   80.57   76.96   78.32   82.26   73.78  
    Exchange rate (Cdn$/US$) 1.43   1.40   1.37   1.37   1.35   1.36   1.34   1.34  
    Edmonton Light Sweet crude oil (Cdn$/bbl) 95.32   94.90   97.85   105.29   92.14   99.69   107.89   94.97  
    Western Canadian Select crude oil (Cdn$/bbl) 84.30   80.75   83.95   91.63   77.77   76.96   93.05   78.76  
    Nymex natural gas (US$/Mcf) 3.79   2.86   2.24   1.96   2.33   2.98   2.64   2.17  
    AECO 7A Monthly Index (Cdn$/Mcf) 2.02   1.46   0.81   1.44   2.07   2.70   2.42   2.40  

    (1) Calculated based on the basic weighted average number of shares outstanding during the period
    (2) Based on the number of shares issued and outstanding at each record date
    (3) See Non-GAAP and Other Financial Measures
    (4) See Conversion of Natural Gas to Barrels of Oil Equivalent (boe)
    (5) The 2023 reported balances have been restated due to the retrospective adoption of IAS 1 (see note 3d of December 31, 2024 audited consolidated financial statements)
    (6) Weighted average number of shares outstanding during the period, basic

    Forward-Looking Statements

    This news release offers our assessment of Freehold’s future plans and operations as of March 12, 2025, and contains forward-looking statements that we believe allow readers to better understand our business and prospects. These forward-looking statements include our expectations for the following:

    • 2025 production guidance;
    • our expectation regarding continued growth of our total liquid production through continued execution of our U.S. expansion strategy and heavy oil growth in Canada;
    • our expectation that our U.S. portfolio will continue to be led by consistent drilling activity by the highest quality payors in North America who are executing on their multi-year growth plans;
    • our expectation that the industry is in excellent shape to manage commodity price volatility due to the capital discipline and prudent balance sheet management approach over the past number of years;
    • our expectation that while some growth directed capital may be pared down, there will not be a slow down in core activity on our lands;
    • our expectation Freehold’s dividend remains sustainable at oil and natural gas prices materially below current commodity price levels;
    • our expectation that the positioning of our assets in areas across North America will continue to attract drilling capital despite volatility in commodity prices;
    • our expectation that U.S. wells typically come on production at approximately ten times that of an average Canadian well in the Company’s portfolio, making net well additions much more valuable in the U.S. compared to Canada;
    • our expectations that a U.S. well can take upwards of six to twelve months on average from initial license to first production, compared to three to four months in Canada;
    • our expectations that we will apply for an commence a NCIB once approval is granted; and
    • other similar statements.

    By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond our control, including general economic conditions, volatility in market prices for crude oil, NGL and natural gas, risks and impacts of tariffs (or other retaliatory trade measures) imposed by Canada or the U.S. (or other countries) on exports and/or imports into and out of such countries, inflation and supply chain issues, the impacts of the ongoing Israeli-Hamas-Hezbollah and potentially the broader Middle-East region, and Russia-Ukraine wars and any associated sanctions as well as OPEC+ curtailments on the global economy and commodity prices, geopolitical instability, political instability, industry conditions, volatility of commodity prices, future production levels, future capital expenditure levels, currency fluctuations, imprecision of reserve estimates, royalties, environmental risks, taxation, regulation, changes in tax or other legislation, competition from other industry participants, inaccurate assumptions on supply and demand factors affecting the consumption of crude oil, NGLs and natural gas, inaccurate expectations for industry drilling levels on our royalty lands, the failure to complete acquisitions on the timing and terms expected, the failure to satisfy conditions of closing for any acquisitions, the lack of availability of qualified personnel or management, stock market volatility, our inability to come to agreement with third parties on prospective opportunities and the results of any such agreement and our ability to access sufficient capital from internal and external sources. Risks are described in more detail in our Annual Information Form for the year-ended December 31, 2024, available at www.sedarplus.ca.

    With respect to forward-looking statements contained in this news release, we have made assumptions regarding, among other things, future commodity prices, future capital expenditure levels, future production levels, future exchange rates, future tax rates, future legislation, the cost of developing and producing our assets, the quality of our counterparties and the plans thereof, our ability and the ability of our lessees to obtain equipment in a timely manner to carry out development activities, our ability to market our oil and gas successfully to current and new customers, the performance of current wells and future wells drilled by our royalty payors, our expectation for the consumption of crude oil and natural gas, our expectation for industry drilling levels, our expectation for completion of wells drilled, our ability to obtain financing on acceptable terms, shut-in production, production additions from our audit function, our ability to execute on prospective opportunities and our ability to add production and reserves through development and acquisition activities. Additional operating assumptions with respect to the forward-looking statements referred to above are detailed in the body of this news release.

    You are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Our actual results, performance, or achievement could differ materially from those expressed in, or implied by, these forward-looking statements. We can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits we will derive from them. The forward-looking information contained in this document is expressly qualified by this cautionary statement. To the extent any guidance or forward-looking statements herein constitute a financial outlook, they are included herein to provide readers with an understanding of management’s plans and assumptions for budgeting purposes and readers are cautioned that the information may not be appropriate for other purposes. Our policy for updating forward-looking statements is to update our key operating assumptions quarterly and, except as required by law, we do not undertake to update any other forward-looking statements.

    You are further cautioned that the preparation of financial statements in accordance with International Financial Reporting Standards (IFRS), which are the Canadian generally accepted accounting principles (GAAP) for publicly accountable enterprises, requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues, and expenses. These estimates may change, having either a positive or negative effect on net income, as further information becomes available and as the economic environment changes.

    To the extent any guidance or forward-looking statements herein constitutes a financial outlook, they are included herein to provide readers with an understanding of management’s plans and assumptions for budgeting purposes and readers are cautioned that the information may not be appropriate for other purposes. You are further cautioned that the preparation of financial statements in accordance with IFRS requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues, and expenses. These estimates may change, having either a positive or negative effect on net income, as further information becomes available and as the economic environment changes.

    Conversion of Natural Gas to Barrels of Oil Equivalent (BOE)
    To provide a single unit of production for analytical purposes, natural gas production and reserves volumes are converted mathematically to equivalent barrels of oil (boe). We use the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). The 6:1 boe ratio is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead and is not based on either energy content or current prices. While the boe ratio is useful for comparative measures and observing trends, it does not accurately reflect individual product values and might be misleading, particularly if used in isolation. As well, given that the value ratio, based on the current price of crude oil to natural gas, is significantly different from the 6:1 energy equivalency ratio, using a 6:1 conversion ratio may be misleading as an indication of value.

    Non-GAAP and Other Financial Measures
    Within this news release, references are made to terms commonly used as key performance indicators in the oil and gas industry, which do not have any standardized means prescribed by Canadian generally accepted accounting principles (GAAP). We believe that net revenue, netback, dividend payout ratio, funds from operations per share and cash costs are useful non-GAAP financial measures and ratios for management and investors to analyze operating performance, financial leverage, and liquidity, and we use these terms to facilitate the understanding and comparability of our results of operations. However, these as terms do not have any standardized meanings prescribed by GAAP, such terms may not be comparable with the calculations of similar measures for other entities. This news release also contains the capital management measures net debt and net debt to trailing funds from operations, as defined in note 14 to the unaudited consolidated financial statements as at and for the three months ended March 31, 2025.

    Net revenue, which is calculated as revenues less ad valorem and production taxes (as incurred in the U.S. at the state level, largely Texas, which do not charge corporate income taxes but do assess flat tax rates on commodity revenues in addition to property tax assessments) details the net amount Freehold receives from its royalty payors, largely after state withholdings.

    The netback, which is also calculated on a boe basis, as average realized price less production and ad valorem taxes, operating expenses, general and administrative expense, cash-based management fees, cash-based interest charges and share-based payouts, represents the per boe netback amount which allows us to benchmark how changes in commodity pricing, net of production and ad valorem taxes, and our cash-based cost structure compare against prior periods.

    Cash costs, which is calculated on a boe basis, is comprised by the recurring cash-based costs, excluding taxes, reported on the statements of operations. For Freehold, cash costs are identified as operating expense, general and administrative expense, cash-based interest charges, cash-based management fees and share-based compensation payouts. Cash costs allow Freehold to benchmark how changes in its manageable cash-based cost structure compare against prior periods.

    The following table presents the computation of Net Revenue, Cash costs and the Netback:

    $/boe Q1-2025 Q4-2024 Q1-2024
    Royalty and other revenue   62.29     54.59     55.47  
    Production and ad valorem taxes   (2.28)     (1.41)     (1.66)  
    Net revenue $60.01   $53.18   $53.81  
    Less:      
    General and administrative expense   (3.41)     (3.02)     (3.58)  
    Operating expense   (0.13)     (0.19)     (0.15)  
    Interest and financing cash expense   (3.31)     (2.67)     (2.79)  
    Management fee-cash settled   (0.05)     (0.05)     (0.06)  
    Cash payout on share-based compensation   (0.10)     –     (0.61)  
    Cash costs   (7.00)     (5.93)     (7.19)  
    Netback $53.01   $47.25   $46.62  

    Dividend payout ratios are often used for dividend paying companies in the oil and gas industry to identify dividend levels in relation to funds from operations that are also used to finance debt repayments and/or acquisition opportunities. Dividend payout ratio is a supplementary measure and is calculated as dividends paid as a percentage of funds from operations.

           
    ($000s, except as noted) Q1-2025 Q4-2024 Q1-2024
    Dividends paid $44,269   $40,687   $40,686  
    Funds from operations $68,050   $61,332   $54,362  
    Dividend payout ratio (%)   65%     66%     75%  

    Funds from operations per share, which is calculated as funds from operations divided by the weighted average shares outstanding during the period, provides direction if changes in commodity prices, cash costs, and/or acquisitions were accretive on a per share basis. Funds from operations per share is a supplementary measure.

    The MIL Network –

  • MIL-OSI USA: May 9th, 2025 Heinrich, Colleagues Urge Trump to Press for Immediate Resumption of Humanitarian Aid to Gaza, Return to Israel-Gaza Hostage & Ceasefire Negotiations

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.), a member of the Senate Select Committee on Intelligence, sent a letter to President Trump in advance of the president’s upcoming travel to the Middle East next week, urging him to take an active role in pressing for humanitarian aid and a return to ceasefire negotiations between Israel and Hamas in order to ensure Israel’s security and end more than 15 months of devastating conflict in Gaza.
    When Trump took office, the January 15 ceasefire deal negotiated under the presidential transition of the Biden administration was in effect — 30 Israeli hostages were reunited with their families, Hamas’ military capacity had been effectively obliterated, and humanitarian aid was reaching Gaza. In the months since Trump’s inauguration, however, negotiations towards long-term regional security have collapsed, and dozens of hostages remain imprisoned by Hamas.
    Before next week’s visit, the senators wrote to President Trump that, “The United States is not providing much needed leadership to drive peace forward in the region.” President Trump’s planned visit to the region does not include a stop in Israel.  He has chosen to conclude a truce with Houthi terrorists even as they pledge to continue striking Israel. He also appears to be turning a blind eye towards the core task of ensuring Israel’s security for today and for the long term.
    In the letter, the senators described Gaza’s catastrophic humanitarian crisis under a months-long blockade of aid. More than 116,000 metric tons of food assistance have been stuck outside Gaza, and an estimated 90 percent of Gaza’s population face high levels of acute food and water insecurity. According to the United Nations, most civilians face emergency or crisis levels of hunger.
    This week, Israel also announced its intent to expand military operations and pursue a long-term occupation of Gaza. “The announcement has already escalated tensions in the Middle East, once again threatening to engulf the volatile region in conflict,” the senators wrote. “The Houthis struck Israel’s Ben Gurion airport on May 4 and have vowed to further retaliate against the proposed occupation. Jordan, one of our most important regional security partners, is facing intensifying pressure amid continued public anger over Gaza. Saudi Arabia has made it clear there can be no progress towards normalization with Israel without a pathway toward Palestinian statehood.”
    “Israel’s proposed occupation plans take us further away from permanently ending the Israel-Gaza war and upholding Israel’s security, both goals that you have promised to achieve under your administration,” the senators added.
    Specifically, the senators asked Trump to press all parties to agree to a deal that: 

    Secures the immediate release of all remaining hostages;

    Ushers in a ceasefire;

    Works towards the creation of a security force backed by Arab partners to administer Gaza without Hamas; and

    Creates a path toward a lasting solution that will allow the Israeli and Palestinian people to live in security, dignity, and prosperity.

    The senators ended the letter by reaffirming their unequivocal commitment to Israel’s security and its right to defend itself.  
    “It has been nearly 20 months since Hamas murdered more than 1,200 people and took about 250 hostages, including American citizens,” the senators concluded. “This period has also been marked by severe humanitarian suffering of civilians in Gaza, where more than 52,000 Palestinians have been killed and millions displaced. All of us are longstanding advocates of the U.S.-Israel security partnership, and we will continue to fight for the defense of the Israeli people. That is why, today, we stand with the nearly three-quarters of the Israeli public who are fighting for the release of the remaining hostages in Gaza in exchange for a ceasefire.”
    The letter was is by U.S. Senators Chris Coons (D-Del.), Jeanne Shaheen (D-N.H.), Jack Reed (D-R.I.), Mark Warner (D-Va.), and Brian Schatz (D-Hawaii). Alongside Heinrich, the letter is signed by U.S. Senators Tammy Baldwin (D-Wis.), Michael Bennet (D-Colo.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), Mazie Hirono (D-Hawaii), Tim Kaine (D-Va.), Mark Kelly (D-Ariz.), Angus King (I-Maine), Amy Klobuchar (D-Minn.), Edward Markey (D-Mass.), Jeff Merkley (D-Ore.), Patty Murray (D-Wash.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), and Sheldon Whitehouse (D-R.I.).
    The full text of the letter is here and below:
    Dear President Trump:

    When you took office in January 2025, we were on a path to peace in the Israel-Gaza conflict, thanks in part to your team’s efforts during the Presidential transition. A ceasefire was in effect and 30 hostages were reunited with their families. Hamas’s military capacity had been effectively obliterated, with the IDF calling it a “guerilla terror group” that could no longer mount a sustained military operation against the people of Israel – a testament to both Israel’s military prowess and the United States’ unflinching support. But today, the United States is not providing critically needed leadership to drive peace forward, which is why we write to express our deep concern in advance of your upcoming travel to the Middle East.
    Since March of this year, the situation on the ground has deteriorated dramatically. Fighting in Gaza has resumed, negotiations towards long-term regional security have collapsed, and dozens of hostages remain imprisoned by Hamas. In fact, we have not had a single hostage return home since February 26. In addition, we are witnessing a humanitarian catastrophe in the third month of Israel’s full blockade of food, water, and medicine into Gaza. This is the longest closure Gaza has ever faced. While the World Food Program ran out of food stocks inside Gaza on April 25, they report that more than 116,000 metric tons of food assistance – enough to feed one million people for up to four months – has been positioned outside Gaza at aid corridors, unable to enter. According to the United Nations, an estimated 90 percent of Gaza’s population faces high levels of acute food and water insecurity, with most civilians facing emergency or crisis levels of hunger. Against this backdrop, the Israeli government’s new aid proposal is simply not viable. It would limit aid distribution to just a few sites in southern Gaza secured by private U.S. contractors, and nearly all aid groups operating in the region note this would only increase insecurity and displacement. Roughly half of Gaza’s 2.1 million people are children; a generation of starving children today would prevent a secure and peaceful Israel tomorrow.
    This week, the Israeli government announced a plan to expand military operations and pursue a sustained, long-term occupation of Gaza. This is a dangerous inflection point for Israel and the region, and while we support ongoing efforts to eliminate Hamas, a full-scale reoccupation of Gaza would be a critical strategic mistake. The announcement has already escalated tensions in the Middle East, once again threatening to engulf the volatile region in conflict. The Houthis struck Israel’s Ben Gurion airport on May 4 and have vowed to further retaliate against the proposed occupation. Jordan, one of our most important regional security partners, is facing intensifying pressure amid continued public anger over Gaza. Saudi Arabia has made it clear there can be no progress towards normalization with Israel without a pathway toward Palestinian statehood. In this context, Israel’s planned actions would severely undermine Jerusalem’s path to a more secure, stable and regionally integrated future, which you championed in your first term through the Abraham Accords.
    Israel’s proposed occupation plans take us further away from permanently ending the Israel-Gaza war and upholding Israel’s security, both goals that you have promised to achieve under your administration. As such, in advance of your upcoming visit, we urge you to oppose a permanent reoccupation of Gaza and to press for the immediate resumption of neutral and impartial humanitarian assistance, access, and distribution that fully meets the needs of innocent Palestinian civilians in Gaza.
    You also have a unique opportunity to press the parties to agree to a deal that:
    (1) secures the immediate release of all remaining hostages;
    (2) ushers in a ceasefire;
    (3) works towards the creation of a security force backed by Arab partners to administer Gaza without Hamas; and
    (4) creates a path towards a lasting solution that will allow the Israeli and Palestinian people to live in security, dignity, and prosperity.
    Mr. President, like you, we are unequivocal in our commitment to Israel’s right to defend itself. It has been nearly 20 months since Hamas murdered more than 1,200 people and took about 250 hostages, including American citizens. This period has also been marked by severe humanitarian suffering in Gaza, where more than 52,000 Palestinians have been killed and millions displaced. All of us are longstanding advocates of the U.S.-Israel security partnership, and we will continue to fight for the defense of the Israeli people. That is why, today, we stand with the nearly threequarters of the Israeli public who are fighting for the release of the remaining hostages in Gaza in exchange for a ceasefire.

    MIL OSI USA News –

  • MIL-OSI Russia: Armenian Prime Minister Meets with Head of European Commission Directorate-General for Neighbourhood Policy and Enlargement Negotiations

    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

    Yerevan, May 13 (Xinhua) — Prospects for expanding cooperation between Armenia and the European Union were discussed at a meeting in Yerevan on Tuesday between Armenian Prime Minister Nikol Pashinyan and Director-General of the European Commission’s Directorate-General for Neighborhood Policy and Enlargement Negotiations Gert Jan Koopman and members of his delegation, the press service of the head of the Armenian government reported.

    N. Pashinyan noted the importance of developing relations between Armenia and the EU, emphasizing Yerevan’s firm commitment to deepening and expanding comprehensive cooperation.

    In turn, G. Ya. Kupman highly appreciated the relations between the European Union and Armenia, emphasizing that the EU considers this country a reliable and trustworthy partner.

    The interlocutors discussed in detail the current stage of bilateral relations, as well as issues related to regional security and stability and the Armenian-Azerbaijani peace process. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Shortsighted ‘America First’ Policy Will Accelerate US Decline: Chinese Ambassador to Russia Zhang Hanhui

    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

    Moscow, May 13 /Xinhua/ — The U.S. administration’s short-sighted “America First” policy will not only fail to achieve its stated goal of “making America great again,” but will also lead the country into stagflation and accelerate its decline, Chinese Ambassador to Russia Zhang Hanhui said in an opinion piece published in the Russian newspaper Argumenty i Fakty on Tuesday.

    “The US economy has been exposed to stagflation risks for a long time, which has caused serious concern both domestically and in the international community,” the publication says.

    As Zhang Hanhui noted, stagflation in the United States is accompanied by high inflation, a deteriorating labor market, a decline in consumer activity, and a reduction in investment. The article emphasizes that the tariff war will further worsen the country’s economic downturn.

    A Chinese diplomat likens trade protectionism to a boomerang: the more aggressively it is used, the more negative consequences are felt. “Ultimately, the U.S. tariff policy will cause the greatest damage to the American economy itself,” he points out, adding that abrupt and ill-considered changes in government policy have seriously undermined economic expectations in the country.

    All this, according to the author of the article, causes concern and disorientation regarding the prospects of the American economy.

    Zhang Hanhui is confident that the “America First” policy will lead the United States to isolation. “Basically, tariffs are used as a tool to test the loyalty of other countries, acting through a system of threats and punishments. However, as practice shows, in the modern world, pressure and coercion do not bring the desired results. Instead, such actions only push other countries to unite in opposition to American hegemony,” the ambassador explains.

    At the same time, he assured that China is determined to withstand the tariff war with the United States to the bitter end. According to him, despite the eight-year-long Sino-American trade war, the scale of China’s foreign trade continues to grow, having increased from 30 trillion to 43 trillion yuan. In addition, the number of China’s foreign trade partners is also increasing. Zhang Hanhui cites data according to which in 2024, China’s trade volume with countries participating in the Belt and Road initiative increased by 6.4 percent, and the share of new markets, including ASEAN countries, in China’s foreign trade amounted to almost 60 percent. Meanwhile, the share of China’s exports to the United States decreased from about 19.2 percent in 2018 to 14.7 percent in 2024.

    As Zhang Hanhui emphasizes, no matter how unpredictable and reckless the US acts, China will continue to confidently follow its own path, consistently promoting the policy of opening up and supporting the construction of an open world economy.

    “History has repeatedly proven that trade protectionism does not contribute to the improvement of one’s own economy, but on the contrary, seriously undermines the world trading system, provokes global economic crises and ultimately harms both others and oneself. Ignoring the lessons of history inevitably leads to negative consequences,” the article says.

    The Ambassador confirmed China’s readiness to strengthen solidarity and mutually beneficial cooperation with Russia and with all countries that adhere to the principles of honesty and fairness.

    “We will jointly implement multilateralism, promote the improvement of the global governance system, and build a community with a shared future for mankind, so as to make greater contributions to improving the well-being of the peoples of China and Russia, as well as safeguarding world peace and development,” Zhang Hanhui concluded. –0–

    MIL OSI Russia News –