NewzIntel.com

Category: Transport

  • MIL-OSI Security: Multi-Convicted Felon Sentenced to More Than Five Years in Federal Prison for Illegally Possessing Ammunition

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

    LOS ANGELES – A Los Angeles-area man with multiple prior felony convictions has been sentenced to 63 months in federal prison for illegally possessing ammunition during an incident last year in which pointed a firearm at a victim and also threatened to shoot the victim’s dog, the Justice Department announced today.

    Edward Conway, 47, who was a transient at the time of the offense, was sentenced Monday afternoon by United States District Judge Percy Anderson. Conway pleaded guilty in October 2024 to one count of being a felon in possession of ammunition.

    According to court documents, on February 25, 2024, Conway held a gun to the head of his ex-girlfriend’s cousin, demanding that the victim get Conway’s ex-girlfriend on the phone. Conway also threatened to shoot the man’s dog if he didn’t cooperate.

    During the incident, Conway pointed to a camera on the man’s house and demanded that the victim turn the camera off. When the victim told Conway he was unable to do so, Conway fired his gun at the camera, pushed his gun into the victim’s back and pinned him to a car while continuing to threaten him.

    When Conway shot toward the camera, a child was taking shelter from the commotion in a house adjacent to where Conway fired the gun, prosecutors wrote in a sentencing memorandum. Investigators recovered a 9mm caliber shell casing from the scene.

    After shooting at the camera, Conway fled the scene on foot, but he was later arrested by officers with the Los Angeles Police Department.

    Earlier that same day, Conway harassed and strangled his ex-girlfriend outside of a grocery store in Los Angeles, then proceeded to throw her car keys onto a neighboring apartment, preventing her from escaping him, according to the sentencing memo.  As a result of this conduct, Conway was convicted of felony domestic violence and sentenced to 60 days in custody.

    Conway is not legally permitted to possess ammunition because of his criminal history, which includes felony convictions in Los Angeles Superior Court for second-degree robbery, being a felon in possession of a firearm, and assault with a deadly weapon.

    The FBI and the Los Angeles Police Department investigated this matter. 

    Assistant United States Attorney Mirelle N. Raza of the General Crimes Section prosecuted this case.

    MIL Security OSI –

  • MIL-OSI USA: Cramer, Colleagues Introduce Legislation to Protect AM Radio

    US Senate News:

    Source: United States Senator Kevin Cramer (R-ND)
    WASHINGTON, D.C. – Each week, nearly 47 million Americans rely on AM radio to deliver updates on news, sports, weather, and emergency alerts. Despite this, several car manufacturers proposed removing AM radio in their newer vehicles. 
    U.S. Senator Kevin Cramer (R-ND) joined U.S. Senators Ted Cruz (R-TX) and Ed Markey (D-MA) in introducing the bipartisan, bicameral AM Radio for Every Vehicle Act. The legislation aims to address critical public safety and communication challenges by ensuring broadcast AM radio remains accessible in all passenger vehicles, including electric vehicles.
    If enacted, the bill would require the Department of Transportation (DOT) to issue a rule requiring new vehicles to maintain access to broadcast AM radio at no additional cost to the consumer and provide small vehicle manufacturers at least four years after the date DOT issues the rule to comply. The AM Radio for Every Vehicle Act also requires automakers to inform consumers, during the period before the rule takes effect, that the vehicles do not maintain access to broadcast AM radio.
    “AM radio connects millions of listeners across the country to reliable news, critical emergency alerts, and vital weather updates every week,” said Cramer. “I joined my colleagues in reintroducing the AM Radio for Every Vehicle Act to prevent automakers from removing this essential communication tool from vehicles. We must keep Americans safe, and this legislation will protect life-saving access to necessary alerts, while preserving emergency communication infrastructure.”
    “During weather disasters or power outages, AM radio is consistently the most reliable form of communication and is critical to keep millions of Texans safe. AM radio has long been a haven for people to express differing viewpoints, allowing free speech and our robust democratic process to flourish for decades. I am honored to once again partner with Sen. Markey on this bipartisan legislation on behalf of our constituents who depend on AM radio and public airwaves for access to news, music, talk, and emergency alerts,” said Senator Cruz.
    “As we witness more tragic climate change-induced disasters like the wildfires in Los Angeles, broadcast AM radio continues to be a critical tool for communication. AM radio is a lifeline for people across the country for news, sports, and especially emergency information,” said Senator Markey. “Tens of millions of listeners across the country have made clear that they want AM radio to remain in their vehicles. Our AM Radio for Every Vehicle Act heeds their words and ensures that this essential tool doesn’t get lost on the dial.”
    Additional cosponsors include U.S. Senators Tammy Baldwin (D-WI), John Barrasso (R-WY), Marsha Blackburn (R-TN), Richard Blumenthal (D-CT), Katie Britt (R-AL), Ted Budd (R-NC), Maria Cantwell (D-WA), Shelley Moore Capito (R-WV), Tom Cotton (R-AR), Steve Daines (R-MT), Joni Ernst (R-IA), Deb Fischer (R-NE), Chuck Grassley (R-IA), Josh Hawley (R-MO), Maggie Hassan (D-NH), Mazie Hirono (D-HI), Jim Justice (R-WV), Angus King (I-ME), Amy Klobuchar (D-MN), James Lankford (R-OK), Ben Ray Luján (D-NM), Cynthia Lummis (R-WY), Roger Marshall (R-KS), Jeff Merkley (D-OR), Jerry Moran (R-KS), Chris Murphy (D-CT), Jack Reed (D-RI), Pete Ricketts (R-NE), Bernie Sanders (I-VT), Rick Scott (R-FL), Jeanne Shaheen (D-NH), Tim Sheehy (R-MT), Tina Smith (D-MN), Dan Sullivan (R-AK), Ron Wyden (D-OR), Todd Young (R-IN), John Barrasso (R-WY), Jim Banks (R-IN), and John Hoeven (R-ND).
    Click here for bill text.

    MIL OSI USA News –

  • MIL-OSI USA: Senators Markey and Cruz Reintroduce Bill to Keep AM Radio in New Vehicles

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Bill Text (PDF)
    Washington (January 29, 2025) – Senator Edward J. Markey (D-Mass.), member of the Senate Commerce, Science, and Transportation Committee, and Ted Cruz (R-Texas), Chairman of the Senate Commerce, Science, and Transportation Committee, today reintroduced the AM Radio for Every Vehicle Act. This legislation would direct the National Highway Traffic Safety Administration (NHTSA) to require automakers to maintain AM broadcast radio in their new vehicles at no additional charge.
    “As we witness more tragic climate change-induced disasters like the wildfires in Los Angeles, broadcast AM radio continues to be a critical tool for communication. AM radio is a lifeline for people across the country for news, sports, and especially emergency information,” said Senator Markey. “Tens of millions of listeners across the country have made clear that they want AM radio to remain in their vehicles. Our AM Radio for Every Vehicle Act heeds their words and ensures that this essential tool doesn’t get lost on the dial.”
    “During weather disasters or power outages, AM radio is consistently the most reliable form of communication and is critical to keep millions of Texans safe. AM radio has long been a haven for people to express differing viewpoints, allowing free speech and our robust democratic process to flourish for decades. I am honored to once again partner with Sen. Markey on this bipartisan legislation on behalf of our constituents who depend on AM radio and public airwaves for access to news, music, talk, and emergency alerts,” said Senator Cruz.
    Cosponsors in the Senate include Senators Tammy Baldwin (D-Wisc.), John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), Richard Blumenthal (D-Conn.), Katie Britt (R-Ala.), Ted Budd (R-N.C.), Maria Cantwell (D-Wash.), Shelley Moore Capito (R-W.V.), Tom Cotton (R-Ark.), Kevin Cramer (R-N.D.), Steve Daines (R-Mont.), Joni Ernst (R-Iowa), Deb Fischer (R-Neb.),    Chuck Grassley (R-Iowa), Josh Hawley (R-Mo.), Maggie Hassan (D-N.H.), Mazie Hirono (D-Hawaii), Jim Justice (R-W.V.), Angus King (I-Maine), Amy Klobuchar (D-Minn.), James Lankford (R-Okla.), Ben Ray Luján (D-N.M.), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Jeff Merkley (D-Ore.), Jerry Moran (R-Kan.), Chris Murphy (D-Conn.), Jack Reed (D-R.I.), Pete Ricketts (R-Neb.), Bernie Sanders (I-Vt.), Rick Scott (R-Fla.), Jeanne Shaheen (D-N.H.), Tim Sheehy (R-Mont.), Tina Smith (D-Minn.), Dan Sullivan (R-Alaska), Ron Wyden (D-Ore.), Todd Young (R-Ind.), John Barrasso (R-Wy.), Jim Banks (R-Ind.), and John Hoeven (R-N.D.).
    In May 2023, Senators Markey and Cruz led their colleagues in introducing the AM Radio for Every Vehicle Act.  The AM Radio for Every Vehicle Act passed through the Senate Commerce Committee in July 2023 and passed through the House Energy and Commerce Committee in September 2024.

    MIL OSI USA News –

  • MIL-OSI Australia: Job done on the Melrose Road Bridge replacement

    Source: Australian Ministers 1

    The Albanese Government continues to partner with Toowoomba Regional Council to get high priority local infrastructure off the ground, with construction of the Melrose Road bridge now complete and open to traffic.

    Officially opened today by Assistant Minister for Regional Development, Anthony Chisholm and Mayor of Toowoomba Regional Council, Geoff McDonald, the new bridge will improve the safety of this key rural route. 

    The $4.3 million project was made possible thanks to $2.5 million from the Albanese Government’s Safer Local Roads and Infrastructure Program, and $1.8 million from Toowoomba Regional Council. 

    Works involved the construction of a new two-lane concrete bridge to replace the ageing timber bridge on Melrose Road in Brookstead. 

    The upgrades will improve access for local agriculture businesses operating in the region, and also enhance the route’s resilience to natural disasters. 

    The new bridge will also support travel for specialised farming equipment, emergency response vehicles and public transport, including school buses. 

    Nationally, the Albanese Government is delivering significant funding increases to support local councils deliver their priority projects. 

    The Roads to Recovery program is progressively increasing from $500 million to $1 billion per year – with Toowoomba Regional Council to receive over $36 million over the next five years, a boost of $11.4 million.

    The Road Black Spot Program has also increased from $110 million to $150 million per year, and $200 million per year is available under our Safer Local Roads and Infrastructure Program.

    Quotes attributable to Federal Minister for Regional Development and Local Government, Kristy McBain:

    “More people are moving to our regions and this is putting more pressure on the roads we use every day, which is why we’re partnering with local councils to help ensure their local road networks are safe and fit-for-purpose.

    “Melrose Bridge provides essential access across the Condamine River to schools, community facilities, and agri business, which is why we’ve upgraded the old structure and invested in this road’s future.” 

    Quotes attributable to Federal Assistant Minister for Regional Development, Anthony Chisholm:

    “This new bridge, which replaced the old timber crossing on Melrose Road, will improve safety, traffic efficiency and allow local farmers to transport greater proportions of grain and other produce from their farms to suppliers.

    “Infrastructure projects, such as this one, deliver an immediate economic boost to regional and rural areas by reducing the potential for any of the risks associated with flood-related road closures.

    “Thank you to the community for their patience and co-operation during the construction of this project as it was a complex undertaking, with Melrose Road closed for the duration of construction.”

    Quotes attributable to Mayor of Toowoomba, Cr Geoff McDonald: 

    “The aim of the project was to improve, productivity, safety and community access, but it was also recognition of the road as an important connection for primary producers.

    “The transport of agricultural produce and farming machinery absolutely depend on a safe and secure crossing over the Condamine River. The upgraded Melrose Road bridge will provide a greater level of certainty for the Brookstead area farmers and associated industries.

    “Having the new bridge constructed to current engineering standards means it will have a much longer design life.”

     

    MIL OSI News –

  • MIL-OSI USA: Chair Ernst Delivers Opening Remarks at Kelly Loeffler Nomination Hearing

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    WASHINGTON – Today, at the Senate Committee on Small Business and Entrepreneurship hearing on the nomination of former Senator Kelly Loeffler to serve as the Small Business Administration (SBA) administrator, Chair Joni Ernst (R-Iowa) highlighted how Loeffler’s track record as a successful business leader provides the exact experience needed to reform the bloated agency and restore its mission.
    Among the biggest areas in need of reform, Ernst cited widespread fraud in COVD-era relief designated for small businesses, the SBA’s mismanaged loan and disaster aid programs, and rampant telework abuse.
    Click here watch Chair Ernst’s opening remarks.
    Ernst’s full remarks:
    “Senator Loeffler, as I already said, welcome to the Committee, and thank you for your willingness to serve in this role.
    “I greatly appreciate the time you’ve spent meeting with me and my colleagues prior to this hearing. I want to take a minute to recognize some of your family here supporting you today. First, your husband, Jeff. Thank you, Jeff for being here. Next, your brother Brian, and his family, who I understand traveled to Washington D.C. from their farm in Illinois. And also, your parents, Don and Lynda, who are watching the hearing from their home in Florida today. We appreciate you all making the trip here and tuning into this important hearing.
    “As a former member of this body, you understand the importance of the Senate’s advice and consent process, and I appreciate that you have fully embraced the committee’s standard, yet extensive, vetting of your experience and background in advance of today’s hearing and our upcoming vote on your confirmation. 
    “As a successful businesswoman, it is abundantly clear that you truly understand what it takes to be an entrepreneur.
    “Throughout your distinguished career, you’ve risen through the ranks at multiple companies due to your determination and grit, and you have started many successful businesses yourself.
    “Most importantly, you understand what it means to be overrun by Washington’s bureaucratic overreach—and that government must instead get out of businesses’ way so they can thrive.
    “Small businesses and their advocates are excited for your leadership. The Committee has received several letters of support for Senator Loeffler’s nomination.
    “The mission of the SBA is to aid small businesses to ensure economic prosperity and free competition.
    “Traditionally, SBA administers programs and services falling into three main buckets: there’s counseling, contracting, and access to capital.
    “While SBA once may have been characterized as a smaller agency, COVID small business programs made SBA a household name, as the agency received a whopping $1.1 trillion in taxpayer funding to assist small businesses during the pandemic.
    “With that funding came big responsibilities, and I remain concerned the SBA under the prior Administration failed to live up to its mission.
    “I believe substantial reforms must be made to get the SBA back in shape, and that is going to require strong leadership.
    “The Biden administration decided to turn a blind eye to COVID fraud and delinquencies, refusing to properly collect outstanding debt and fraudulent funds, which has huge implications to the taxpayer.
    “Reports have indicated SBA charged off about $18.6 billion worth of EIDL loans in Fiscal Year 2024.
    “Not once during the Biden administration was the SBA able to provide an accounting of their loans receivable and loan guarantees, which meant that the Government Accountability Office hasn’t been able to even issue a financial audit of the Agency since Fiscal Year 2020.
    “SBA also completely mismanaged and misinformed Congress last year regarding its disaster loan account, resulting in a shortfall lasting 66 days – an unacceptable failure for the disaster victims in North Carolina, South Carolina, Georgia, Virginia, and Florida.
    “I do appreciate that once the account was funded, SBA staff worked around the clock, including over the holidays, to get the money out to disaster victims, but I never want to see that situation unfold again.
    “While SBA is failing, it also appears that its workforce continues to stay home, while its more than 246,000 square foot Washington, D.C. headquarters sits empty.
    “The GAO found that even if everyone did show up to work in person, the SBA’s building space would still only be 67 percent utilized, which is a complete waste of taxpayer money.
    “That is why I introduced a bill to relocate 30 percent of the headquarters workforce to the SBA district offices across the country and cut 30 percent of office space.
    “The SBA has been completely out of touch with the real-world challenges of entrepreneurs, and while the Biden administration simultaneously let SBA employees stay home, they also added positions in Washington, D.C. while stripping offices in Iowa, New Hampshire, Utah, and other states.
    “I would like to work with you, Senator Loeffler, on ways to ensure SBA is effectively utilizing its personnel and ensuring that small businesses in all parts of America are able to access SBA programs if they need them.
    “I’ve detailed these concerns and others regarding the mess you have to clean up from the Biden administration, and potential landmines you will encounter, in a letter to President Trump on day one of his new Administration. I ask unanimous consent to enter that letter into the record.
    “Without objection, so ordered.
    “In Iowa, Main Street is in trouble, and I hear from my colleagues that this is true in their states across America.
    “Small businesses are the lifeblood of our rural communities, and for too long under the Biden administration, they’ve been crushed with red tape and woke program requirements, with no one caring about how that affects the day-to-day operations.
    “I see a great opportunity for the Trump administration, and you, to revitalize small businesses in America.
    “Thank you again for being here, and I look forward to your testimony.”

    MIL OSI USA News –

  • MIL-OSI Russia: The Moscow metro has launched a “Chinese New Year” train!

    Translartion. Region: Russians Fedetion –

    Source: Moscow Metro

    The Moscow Metro has presented a special themed train dedicated to the celebration of the Chinese New Year as part of the Russia-China Year of Culture 2024-2025.

    For the first time, the subway, together with colleagues from China, developed a unique branded train. The train is painted red, which in Chinese culture is traditionally associated with happiness, joy, luck and prosperity.

    Chinese New Year on the Moscow Metro.

    Chinese New Year in the Moscow Metro.

    Festive design inspired by Chinese traditions

    The train’s exterior features the symbol of the Year of the Snake, as well as a Chinese dragon, symbolizing new beginnings and prosperity. Inside, passengers can explore photographs showing traditional Chinese New Year celebrations. The front carriages feature the official emblem of the Years of Russia and China Culture: a Russian bear and a Chinese panda in national costumes holding hands, symbolizing friendship and unity.

    The themed train will run on Line 3 for a month.

    As an additional feature, a subway map with all transport points indicated in Chinese is located in the front carriage of the train.

    Strengthening cultural ties between Moscow and Beijing

    The launch of themed trains has become a cherished tradition of the Moscow Metro. Today, for the first time, we are presenting a special metro train dedicated to the strong and friendly relations between Moscow and Beijing, as well as the celebration of the Chinese New Year. We hope that this beautifully decorated train will bring joy to passengers and allow them to feel the festive atmosphere of the holiday.” Moscow transport continues to actively participate in the cultural life of the capital, following the initiative of Mayor Sergei Sobyanin, said Maxim Liksutov, Deputy Mayor of Moscow for Transport.

    Translated with DeepL.com (free version)

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: The Bank of Russia reduces macroprudential surcharges on credit cards during the grace period (01/29/2025)

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    The Bank of Russia has approved surcharges to risk coefficients in connection with the entry into force new edition of the normative act, which determines the procedure for establishing macroprudential surcharges: surcharges for credit card debt in the grace period1 have been reduced, while those for other assets have been left unchanged.

    The Board of Directors of the Bank of Russia, when adopting this solutions proceeded from the following.

    Bank data show that credit card debt in the grace period is characterized by lower default rates (2-3 times lower than debt for which the grace period has ended). Borrowers use them mainly for transactions and do not pay interest on the debt during the grace period, which reduces the likelihood of it becoming delinquent. Clients who manage to repay the debt within the grace period, as a rule, are characterized by a more reliable risk profile. In this regard, in order to increase risk sensitivity, changes were made to the regulation, allowing for the establishment of macroprudential surcharges for debt in the grace period, depending on the debt burden ratio (DBR) of the borrower.

    Values of surcharges to risk coefficients in relation to debt on loans with a credit limit in the grace period formed from February 1, 2025

      PDN interval, %
    No PDN (0-30 (30-40sh (40-50sh (50-60sh (60-70sh (70-80sh 80, PDN not calculated
    Allowances 2.0 0.2 0.2 0.2 0.5 1.0 1.5 2.0

    Surcharges for credit card debt that has exited the grace period will be set in accordance with the surcharge matrix in effect since December 2, 2024.

    Reference: risk coefficient premiums for unsecured consumer loans granted from December 2, 2024

    Allowances PDN interval, %
    No PDN (0-30 (30-40sh (40-50sh (50-60sh (60-70sh (70-80sh 80, PDN not calculated
    PSC interval, % per annum (0-10sh 1.8 0.0 0.0 0.2 0.3 0.7 1.2 1.8
    (10-15sh 2.0 0.0 0.2 0.3 0.5 0.9 1.4 2.0
    (15-20sh 2.4 0.4 0.5 0.7 0.9 1.3 1.8 2.4
    (20-25 2.9 1.0 1.2 1.4 1.7 2.0 2.3 2.9
    (25-30 3.6 1.6 1.7 1.9 2.2 2.6 3.0 3.6
    (30-40sh 3.8 1.7 1.8 2.0 2.6 3.0 3.2 3.8
    (40-50sh 4.0 1.8 2.0 2.2 3.0 3.2 3.5 4.0
    (50-60sh 5.0 2.0 2.2 2.5 3.2 3.5 4.0 5.0
    60 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0

    According to the Bank of Russia, given the current structure of issuances, the average level of premium on credit cards in the grace period will be 0.7 (70%). For large banks, such debt currently accounts for one third to one half of all debt on credit cards. Despite the reduction in premiums for this part of the portfolio and the slowdown in lending growth (in December 2024, the unsecured loan portfolio decreased by 1.9% after near-zero changes in debt in October-November 2024), the macroprudential capital buffer for unsecured consumer loans2 will generally continue to accumulate due to the gradual renewal of the loan portfolio.

     

    1 The credit institution shall accrue interest on the current term debt on the specified requirements at the rate specified in the consumer credit (loan) agreement for performing transactions using a bank card, and shall not collect payments on the credit (loan), except for payments to repay the principal amount of the debt, in accordance with such agreement during the period of time specified therein.

    2 As of December 1, 2024, the macroprudential capital buffer for unsecured consumer loans (including cash loans) amounted to 0.8 trillion rubles (6% of the portfolio of these loans).

    When using the material, a link to the Press Service of the Bank of Russia is required.

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

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

    HTTPS: //VVV. KBR.ru/Press/PR/? File = 638737649777799232FinStab. HTM

    MIL OSI Russia News –

  • MIL-OSI Russia: Moscow scientists have developed 11 medical phantoms to improve patient diagnostics

    Translartion. Region: Russians Fedetion –

    Source: Center for Diagnostics and Telemedicine of the Moscow Department of Health (DZM)

    A recent development has made magnetic resonance imaging (MRI) technology more accessible. Researchers from Moscow have successfully developed 11 medical phantoms that accurately simulate human tissue, organs, and anatomical structures. These developments help medical professionals perform diagnostic procedures more effectively, according to Anastasia Rakova, Deputy Mayor of Moscow for Social Development.

    Functionality and application of phantoms

    “Phantoms are durable and realistic products that imitate human anatomy. Some of them are used to train young specialists and improve the skills of experienced doctors, others – to calibrate diagnostic equipment,” said Rakova. The development of such phantoms allows specialists to practice the basic techniques of conducting visualization studies and prepare devices for various procedures. Among the latest innovations is a prostate gland phantom, which is already successfully used in clinical settings.

    Solving clinical problems

    MRI is currently the most common method for detecting prostate cancer, but the presence of artificial metal implants in elderly patients often complicates this type of imaging. This requires changes to the MRI protocol before the study. To solve this problem, scientists at the Center for Diagnostics and Telemedicine of the Moscow Department of Health have developed the first prostate phantom of their own production, which allows for calibration of the device without the patient’s participation.

    “Metal implants can significantly complicate the interpretation of MRI results. We set ourselves the task of solving a major clinical problem: minimizing errors associated with metal hip implants during prostate MRI. These implants can not only cause distortions, but also affect the accuracy of quantitative measurements. Developing a new scanning protocol takes a lot of time, which can delay the examination process and disrupt the work schedule of diagnostic institutions. In addition, adjustments made during the examination can lead to heating of the implant, which will cause discomfort to the patient. Using a phantom, we can make the necessary adjustments in advance, thereby reducing these risks,” explained Yuri Vasiliev, Chief Consultant in Radiology at the Moscow Department of Healthcare and General Director of the Moscow Center for Diagnostics and Telemedicine.

    Past Innovations and Future Directions

    In addition to the prostate phantom, the researchers recently introduced a fetal phantom designed to optimize the MRI protocol for pregnant women. This tool not only helps in training physicians and radiologists, but also serves as a benchmark for equipment standards in clinical practice and in the development of new research protocols.

    The Center for Diagnostics and Telemedicine is a leading scientific and practical institution of the Moscow Department of Health, specializing in the creation of phantoms and medical simulators, as well as conducting educational courses. Since its foundation in 2013, the Center’s employees have prepared more than 800 scientific papers, including articles, guidelines, monographs and teaching aids.

    This project is in line with national healthcare objectives aimed at improving the quality and accessibility of medical care for Moscow residents.

    MIL OSI Russia News –

  • MIL-OSI USA: FEMA hosting media opportunity at Mercer County, W.Va., disaster recovery center

    Source: US Federal Emergency Management Agency

    Headline: FEMA hosting media opportunity at Mercer County, W.Va., disaster recovery center

    FEMA hosting media opportunity at Mercer County, W.Va., disaster recovery center

    The Federal Emergency Management Agency (FEMA) and the Small Business Administration (SBA) will be available to media at 10:30 a.m., Friday, Jan. 31, 2025, at the Princeton, W.Va., Disaster Recovery Center (DRC). West Virginia FEMA Federal Coordinating Officer Georgeta Dragoiu and a representative of the SBA will be present to provide an update on the recovery mission following the Sept. 25-28, 2024, remnants of Tropical Storm Helene. Dragoiu will speak on the approval of more than $2 million in disaster aid; the upcoming deadline to apply on Friday, Feb. 7; the extra week of DRC operation; and a reminder to residents to be careful with their information. Members of the media are invited to participate.Information for the Princeton Disaster Recovery Center is as follows:Princeton Disaster Recovery CenterLifeline Princeton Church of God250 Oakvale Rd. Princeton, WV 24740Hours of operation:Monday to Friday: 9 a.m. to 5 p.m.Saturdays: 10 a.m. to 2 p.m. Closed SundayFor more information on West Virginia’s disaster recovery, visit emd.wv.gov, West Virginia Emergency Management Division Facebook page, www.fema.gov/disaster/4851 and www.facebook.com/FEMA.
    tiana.suber
    Wed, 01/29/2025 – 21:46

    MIL OSI USA News –

  • MIL-OSI Australia: Contract awarded as Sheahan Bridge upgrade planning project progresses

    Source: New South Wales Premiere

    Published: 29 January 2025

    Released by: Minister for Regional Transport and Roads

    The Albanese and Minns Labor governments are progressing plans for an upgrade of a key bridge on one of Australia’s busiest road freight corridors, as part of efforts to unlock access for more heavy vehicles.

    The $20 million jointly funded planning project for the Sheahan Bridge Upgrade project on the Hume Highway at Gundagai has moved into its next phase of development with a contract awarded to provide a concept design for the bridge’s upgrade or replacement.

    WSP Australia Pty Ltd will provide concept design development and environmental assessment of potential upgrade or replacement options for the northbound bridge over the Murrumbidgee River.

    The current northbound bridge was built in 1977, with duplication of the southbound lanes officially opened to traffic by Prime Minister Anthony Albanese on 25 May 2009 when he was Minister for Infrastructure and Transport.

    While the load limit was increased from 68 to 85 tonnes in 2020 on the northbound bridge, for the safety of motorists Higher Productivity Vehicles still have to use a permit to travel on the NSW section of the Hume Highway due to the age of the bridge and structure limitations.

    These limitations on the northbound bridge also restrict opportunities for contraflow during emergency response or planned maintenance activities on the southbound bridge.

    The Federal and NSW Labor Governments are working together to ensure that this major bridge on the Hume Highway, the oldest and busiest highway in NSW, which follows the 200-year-old track traversed by Hume and Hovell in 1824, can meet the challenges of 21st century road freight.

    The upgrade planning project will investigate potential solution options which include:

    • building a replacement bridge on a new alignment upstream (east) or downstream (west) of the existing bridge
    • replacing the existing bridge on its current alignment
    • strengthening the existing bridge.

    Transport for NSW is now working with the contractor to further investigate each alternative and identify a preferred option.

    It is expected a preferred option will be identified for public display in mid-2026 and Transport will keep the community updated as the project progresses.

    Minister for Regional Transport and Roads Jenny Aitchison said:

    “The Hume Highway is the major freight corridor from Sydney to Melbourne, the oldest and busiest highway in Australia. It has been Labor governments which have invested and delivered the crucial upgrades that have ensured freight, tourism and other road users can rely on this vital network.

    “Instead of forcing HPVs to use permits, the NSW and Federal Labor governments are working together to deliver a fit for purpose bridge which will reduce red tape for HPV freight operators by enabling them to use this route without having to obtain permits.”

    NSW Labor’s spokesperson for Cootamundra Stephen Lawrence MLC:

    “All across regional NSW, Labor governments are working together to improve roads, bridges and other transport infrastructure.

    “I am very pleased to see the Sheahan Bridge upgrade planning project progressing and look forward to learning what the preferred improvement option is.”

    MIL OSI News –

  • MIL-OSI Australia: The next generation of NSW Electric Buses will be built in Nowra

    Source: New South Wales Premiere

    Published: 30 January 2025

    Released by: The Premier, Minister for Domestic Manufacturing and Government Procurement, Minister for Transport

    The South Coast is set to become a new manufacturing hub for the next generation of public transport with the creation of a brand-new electric bus manufacturing facility in Nowra.

    Australian owned bus manufacturer Foton Mobility Distribution is set to build a 6,000 square metre manufacturing facility in South Nowra from late 2025, subject to council approval.

    This follows the Minns Labor Government awarding a contract to Foton to deliver 126 battery electric buses that will be built in Nowra and service bus routes across Greater Sydney.

    The facility will also produce battery electric trucks, as well as hydrogen fuel cell engines, creating around 100 ongoing quality, skilled manufacturing jobs for local workers.

    Foton’s bus contract was one of the first bus orders made through the NSW Government’s Zero Emission Buses (ZEB) program.

    This program is also converting 11 existing bus depots in Greater Sydney to battery electric technology, building a new battery electric depot at Macquarie Park and procuring around 1,200 new electric buses by 2028.

    Transport for NSW is delivering the ZEB program in stages in close consultation with industry, including manufacturers, to provide an opportunity to increase capability and capacity supported by a published pipeline of bus orders.

    While the domestic manufacturing sector can’t be rebuilt overnight – facilities like this are the first step towards building things here in NSW again.

    This facility delivers on the NSW Government’s commitment to domestic manufacturing, supporting local jobs and local industry to build the public transport our state needs.

    This follows 12 years of offshoring by the former Liberal National Government, leading to NSW missing out on thousands of job opportunities and bringing lengthy delays and cost blowouts on major transport contracts.

    Premier Chris Minns said:

    “The offshoring of public transport by the former government was a complete disaster, which is why we’re building these buses here in NSW – creating local jobs and public transport that works.

    “This state of the art facility in Nowra will create ongoing skilled jobs in regional NSW while also delivering emissions free world class public transport for the people of our state.

    “Workers across NSW are great at building public transport like these buses, and under our government they’re building them here again.

    Minister for Transport Jo Haylen said:

    “When the Minns Labor Government says we want to build more buses here, we mean it.

    “Once our partners at Foton get this plant up and running there will be an extra 100 quality manufacturing jobs right here. That’s great news for Nowra and a big boost for NSW manufacturing.

    “We want our local manufacturers and suppliers have good opportunities to get involved in building the Zero Emissions Buses that we need. That’s why we have structured our zero-emissions bus program in a way that builds our bus manufacturing capacity for the long term.”

    “We are at the beginning of our project to build the clean, green buses of the future. Transport for NSW announced the first battery electric bus orders under the Zero Emissions Bus program for Greater Sydney in December 2024.

    “There will be many more orders to come for Sydney, Outer Metropolitan and Regional NSW and many good quality, skilled manufacturing jobs that will be created thanks to the Minns Labor Government’s support for building our buses, trains and ferries right here in Australia.”

    Minister for Domestic Manufacturing and Government Procurement Courtney Houssos said:

    “This new facility shows the high-quality products that NSW workers and businesses can deliver.

    “The previous government sent contracts like this offshore, costing NSW thousands of jobs and billions of dollars. We are choosing to support local jobs and local businesses.

    “By leveraging the power of government contracts like this, we can rebuild local industries, support local workers and grow the NSW economy, particularly in regional communities.

    “This is an important milestone as we deliver on our pledge to bring domestic manufacturing back to NSW.”

    Member for South Coast Liza Butler said:

    “The Minns Government understands the importance of local jobs and skills training for regional communities.”

    “The proposed new bus factory here in Nowra will provide fantastic employment opportunities for up to 100 people once fully operational and enable the re-skilling and upskilling of many workers who wish to be a part of the transition to zero emissions transport.”

    Member of the Legislative Council Sarah Kaine said:

    “We’re building Australia’s future right here in the South Coast and delivering good quality, local jobs in the process.”

    “This is a Labor Government that is investing back into its regional economies and ensuring equal opportunity for local manufacturing of our world-class transport system. 

    MIL OSI News –

  • MIL-OSI Australia: Eurobodalla Regional Hospital moves ahead with first concrete pour complete and highway roundabout works to begin

    Source: New South Wales Government 2

    Headline: Eurobodalla Regional Hospital moves ahead with first concrete pour complete and highway roundabout works to begin

    Published: 29 January 2025

    Released by: Minister for Health, Minister for the Illawarra and the South Coast, Minister for Regional Health

    Construction of the new $330 million Eurobodalla Regional Hospital is on track, with the first concrete pour complete and work to build a new roundabout on the Princes Highway set to start in the coming months.

    The new concrete slab forms part of the lower ground floor of the north-western corner of the hospital which will include the first paediatric department in the region and a contemporary maternity unit, supporting high-quality, patient-centred care.

    The new maternity department has been designed with extensive input from staff and the community, and will offer a calming, modern and culturally safe environment for women and families.

    The new paediatric department will complement other new services such as an intensive care unit and an MRI, enabling the hospital to provide comprehensive care for newborns, infants, and children.

    To support future access to the new hospital’s site entrance, work to deliver a new roundabout on the Princes Highway will shortly begin, with construction expected to start in the coming months.

    To ensure the safety of workers and motorists, temporary traffic conditions will be in place during this period, with work expected to be completed late 2025.

    Staff and the community are encouraged to stay up to date with the latest project news and information by visiting the project website.

    Quotes attributable to Minister for Regional Health Ryan Park:

    “The NSW Government is investing in the future of our local communities by delivering this critical health infrastructure project which will support the healthcare needs of the entire Eurobodalla Shire from Narooma to Batemans Bay.

    “The $330 million new Eurobodalla Regional Hospital will be larger than both Moruya and Batemans Bay hospitals combined and has been designed with the capacity to grow as demand for health services changes.

    “This exciting milestone is another step towards delivering a world-class hospital for the Eurobodalla community.”

    Quotes attributable to Member for Bega, Dr Michael Holland

    “It’s very exciting to see the significant progress being made on the $330 million Eurobodalla Regional Hospital project, which will soon provide more health services and more specialist care for our community.

    “I’m pleased to see the new paediatrics and maternity units taking shape, which will support elevated healthcare for families in the Eurobodalla, enabling and offering an enhanced level of service and care to our community.”

    MIL OSI News –

  • MIL-OSI USA: Senator Coons, colleagues introduce bipartisan legislation to support firefighters with service-related cancers

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons

    WASHINGTON – U.S. Senators Chris Coons (D-Del.), Amy Klobuchar (D-Minn.) and Kevin Cramer (R-N.D.) reintroduced the Honoring Our Fallen Heroes Act. This bipartisan legislation, which passed unanimously out of the Senate Judiciary Committee last year, would expand federal support for the families of firefighters and other first responders who pass away or become permanently disabled from service-related cancers. The Public Safety Officer Benefits (PSOB) program—which provides benefits to first responders injured in the line of duty and to their families—currently extends protection to first responders suffering from a narrow list of injuries and illnesses. This bill would expand PSOB coverage to more first responders and their families.

    “Firefighters face many life-threatening health risks. Not all of them move as swiftly as a heart attack, but families are no less deserving of benefits if they lose their loved ones to cancers they were exposed to the line of duty,” said Senator Coons. “We need to close this loophole in the PSOB program so that the families of firefighters and first responders who lost their lives due to service-related cancers or face severe disabilities receive the benefits they deserve.”

    “As we are seeing in California and throughout the country, our firefighters put their lives on the line every day to keep us safe, often exposing themselves to carcinogens that can have lethal long-term effects. It’s unacceptable that firefighters who succumb to cancer from work-related exposure or become permanently and totally disabled don’t receive the same treatment as others who die in the line of duty,” said Senator Klobuchar. “Our bipartisan legislation will honor the memory and sacrifice of St. Paul Fire Department Captain Mike Paidar and so many others who risk their lives in service of their communities.”

    “Our first responders epitomize courage and selfless sacrifice, confronting both the immediate perils of their duty and lingering health risks associated with their service,” said Senator Cramer. “The exposure to dangerous carcinogens happens on our behalf. When these heroes make the ultimate sacrifice, their families should not bear these burdens alone.”

    The Honoring our Fallen Heroes Act would expand access to federal support for the families of firefighters and first responders who pass away from cancer caused by carcinogenic exposure during their service. The bill would also extend disability benefits in cases where these first responders become permanently and totally disabled due to cancer.

    This legislation was introduced in honor of Michael Paidar, a fire captain who died in 2020 of an aggressive form of Acute Myeloid Leukemia. In 2021, after strong advocacy from the Paidar family, the Minnesota Department of Public Safety awarded line-of-duty benefits to Captain Paidar’s widow, Julie. This was the first time that Minnesota’s state PSOB program provided a firefighter’s family with benefits for cancer incurred in the line of duty. The Honoring Our Fallen Heroes Act would ensure that firefighters and other first responders across the country are eligible to receive similar benefits under the federal PSOB program. 

    In addition to Senators Coons, Klobuchar, and Cramer, this bill is also co-sponsored by Senators Alex Padilla (D-Calif.), Adam Schiff (D-Calif.), Jim Banks (R-Ind.), John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), Richard Blumenthal (D-Conn.), John Cornyn (R-Texas), Ted Cruz (R-Texas), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), John Fetterman (D-Pa.), Deb Fischer (R-Neb.), Lindsey Graham (R-S.C.), Mazie Hirono (D-Hawaii), John Hoeven (R-N.D.), Jim Justice (R-W.Va.), Mark Kelly (D-Ariz.), Ed Markey (D-Mass.), Mike Rounds (R-S.D.), Jeanne Shaheen (D-N.H.), Tim Sheehy (R-Mont.), Tina Smith (D-Minn.), Mark Warner (D-Va.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).

    The legislation is endorsed by the International Association of Fire Fighters (IAFF), Association of State Criminal Investigative Agencies (ASCIA), Congressional Fire Services Institute (CFSI), Federal Law Enforcement Officers Association (FLEOA), Fraternal Order of Police (FOP), International Association of Fire Chiefs (IAFC), Major County Sheriffs of America (MCSA), Metropolitan Fire Chiefs Association (Metro Chiefs), National Association of Police Organizations (NAPO), National Fallen Firefighters Foundation (NFFF), National Fire Protection Association (NFPA), National Narcotics Officers’ Associations Coalition (NNOAC), National Volunteer Fire Council (NVFC), and the Sergeants Benevolent Association of the NYPD. 

    A full list of endorsement quotes is available here.

    Senator Coons has long-advocated for firefighters and first responders’ health, benefits, safety, and well-being. He worked to pass the bipartisan Fire Grants and Safety Act, which was signed into law by President Biden in 2023, and helps local fire departments access funding for training, personnel, and equipment—all of which are especially in demand from small and volunteer fire departments. He also cosponsored the Protecting America’s First Responders Act, which was signed into law in 2021, and improved the PSOB program by allowing benefit amounts to be calculated based on the date of the award and account for cost of living increases. In 2022, he introduced the Fighting Post-Traumatic Stress Disorder Act, a bipartisan bill to promote mental health programs for America’s first responders, who often face long-term effects from providing life-saving services in moments of crisis.

    MIL OSI USA News –

  • MIL-OSI USA: Sen. Moran Joins Colleagues in Introducing Legislation to Incentivize Charitable Giving

    US Senate News:

    Source: United States Senator for Kansas – Jerry Moran

    WASHINGTON – Today, U.S. Senator Jerry Moran (R-Kan.) joined James Lankford (R-Okla.) and Chris Coons (D-Del.) and 10 of his colleagues in introducing the Charitable Act to expand and extend the expired non-itemized deduction for charitable giving. The bill would ensure Americans who donate to charities, houses of worship, religious organizations and other nonprofits of their choice are able to deduct that donation from their federal taxes at a higher level than the current deduction. 

    The deduction became law as part of the CARES Act, passed by Congress and signed into law in 2020 by President Trump. The policy resulted in 90 million tax returns utilizing the deduction, and households making between $30,000 and $100,000 saw the largest increase in charitable giving. Charitable organizations received $30 billion in increased donations as a result.

    “Americans continuously demonstrate their generosity and their desire to help those in need through their charitable giving,” said Sen. Moran. “Updating our tax laws will help reward and incentivize more charitable donations to provide resources for individuals who need help.”

    “America’s first safety net should never be the government—government is the least efficient caregiver by far,” said Sen. Lankford. “Our families, churches, and other nonprofits do incredible work to lift up those who need it most. Updating the tax law to incentivize giving empowers Americans to make an even bigger impact for the homeless, hurting, and hungry.”

    “Delawareans have always risen to the occasion in support of our communities,” said Sen. Coons. “Last year, Americans demonstrated our generosity by donating a collective $557 billion to charities, houses of worship, and nonprofits. I am proud to reintroduce the Charitable Act with Senator Lankford to help the federal government encourage even more Americans to embrace the civic virtue of giving to those in need.”

    The senators were also joined by Sens. Catherine Cortez Masto (D-Nev.), John Hickenlooper (D-Colo.), Pete Ricketts (R-Neb.), Amy Klobuchar (D-Minn.), Raphael Warnock (D-Ga.), Jeanne Shaheen (D-N.H.), John Curtis (R-Utah), Marsha Blackburn (R-Tenn.), Katie Britt (R-Ala.) and Tim Scott (R-S.C.).

    This bill is supported by numerous organizations including National Council of Nonprofits (25,000 member organizations), Charitable Giving Coalition (175 member organizations), the Nonprofit Alliance, Faith & Giving Coalition, Leadership 18, Independent Sector, YMCA, Council on Foundations, American Endowment Foundation, Philanthropy Southwest, Christian Alliance for Orphans, Ethics & Religious Liberty Commission, United Philanthropy Forum, National Association of Charitable Gift Planners, Association of Art Museum Directors, ECFA, Association of Fundraising Professionals, Council for Advancement and Support of Education, Americans for the Arts, American Heart Association, Oklahoma Center for Nonprofits, Delaware Alliance for Nonprofit Advancement, Maryland Nonprofits, Boys and Girls Club of America and March of Dimes.

    MIL OSI USA News –

  • MIL-OSI Russia: Chinese New Year train launched in the Moscow Metro!

    Source: Moscow Metro

    The Moscow Metro has unveiled a special themed train to celebrate Chinese New Year as part of the Russia-China Years of Culture 2024–2025.

    For the first time, the metro collaborated with colleagues from China to design a unique branded train. The train is painted in red, a color traditionally associated with happiness, joy, luck, and prosperity in Chinese culture.

    Chinese New Year on the Moscow Metro.

    A Festive Design Inspired by Chinese Traditions

    • The exterior of the train features the symbol of the Year of the Snake, as well as a Chinese dragon, representing a new beginning and prosperity.
    • Inside, passengers can explore photographs showcasing traditional Chinese New Year celebrations.
    • The front carriages display the official emblem of the Russia-China Years of Culture, featuring a Russian bear and a Chinese panda in national costumes holding hands—a symbol of friendship and unity.

    The themed train will operate for one month on the Line 3.

    As an additional feature, a metro map with all transport locations labeled in Chinese has been placed in the front carriage of the train.

    Strengthening Cultural Ties Between Moscow and Beijing

    The launch of themed trains has become a cherished tradition in the Moscow Metro. Today, for the first time, we are introducing a special metro train dedicated to the strong and friendly relations between Moscow and Beijing, as well as the celebration of Chinese New Year. We hope that this beautifully decorated train will bring joy to passengers and allow them to experience the festive atmosphere of the holiday. Moscow Transport continues to actively participate in the cultural life of the capital, following the initiative of Mayor Sergey Sobyanin, — said Maksim Liksutov, Deputy Mayor of Moscow for Transport.

    MIL OSI Russia News –

  • MIL-OSI Russia: Moscow scientists have developed 11 medical phantoms to enhance Patient Diagnosis

    Source: Center for Diagnostics and Telemedicine of the Moscow Health Department (MHD)

    The recent development has improved the accessibility of magnetic resonance imaging (MRI) technology. Researchers in Moscow have successfully developed  11 medical phantoms that accurately mimics human tissues, organs, and anatomical structures. These advancements assist healthcare professionals in conducting diagnostic procedures more effectively. This information was shared by Anastasia Rakova, Deputy Mayor of Moscow for Social Development.

    Phantom Functionality and Applications

    “Phantoms are durable and realistic products that mimic human anatomy. Some are utilized for training young professionals and refining the skills of experienced medical professionals, while others are employed for calibrating diagnostic equipment.” said Rakova. The development of these phantoms allows specialists to practice essential techniques for conducting imaging studies and prepares devices for various procedures. Among the latest innovations is a prostate phantom, which has already seen successful implementation in clinical settings.

    Addressing Clinical Challenges

    MRI is currently the most widespread technique to detect prostate cancer; however, the presence of artificial metal implants in older patients often complicates this type of imaging. This necessitates adjustments to the MRI protocol prior to examinations. To address this issue, scientists at the Center for Diagnostics and Telemedicine of the Moscow Healthcare Department have developed the first in-house prostate phantom, which allows for device calibration without requiring patient involvement.

    “Metal implants can complicate the interpretation of MRI results significantly. Our objective was to tackle a critical clinical challenge: minimizing errors associated with metal hip implants during prostate MRI scans. These implants can not only cause distortions but also affect the accuracy of quantitative measurements. Developing a new scanning protocol is time-consuming, which can prolong the examination process and disrupt scheduling within diagnostic facilities. Moreover, adjustments made during the examination may lead to heating of the implant, resulting in patient discomfort. By utilizing a phantom, we can perform necessary adjustments in advance, thereby mitigating these risks,” explained Yuri Vasilev, Chief Consultant for Radiology of the Moscow Healthcare Department and CEO of the Moscow Center for Diagnostics and Telemedicine.

    Previous Innovations and Future Directions

    In addition to the prostate phantom, researchers recently introduced fetal phantom, designed to optimize MRI protocol for pregnant women. This tool not only aids in training physicians and X-Ray technicians but also serves as a benchmark for equipment standards in clinical practice and the development of new research protocols.

    The Centre for Diagnostics and Telemedicine is a leading scientific and practical institution within the Moscow Healthcare Department, focusing on the creation of phantoms and medical simulators, as well as the provision of educational courses. Since its inception in 2013, the Center’s employees have produced over 800 scientific papers, including articles, methodological guidelines, monographs, and teaching materials.

    This project aligns with national healthcare objectives aimed at enhancing the quality and accessibility of medical care for residents of Moscow.

    MIL OSI Russia News –

  • MIL-OSI United Nations: From policy to progress: UN deputy chief Mohammed outlines path for Africa’s clean energy transformation

    Source: United Nations 4

    Economic Development

    United Nations Deputy Secretary-General Amina Mohammed highlighted on Tuesday the critical need for collaborative and urgent action to achieve the ambitious goal of bringing electricity to 300 million Africans by 2030.

    “Access to electricity is not just a matter of convenience; it is a fundamental human right that underpins economic growth, education, healthcare, and gender equality,” Ms. Mohammed told African Heads of State attending the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania.  

    The Summit brought together African leaders and development partners to discuss Mission 300, an initiative by the African Development Bank and the World Bank. The initiative addresses energy access challenges and aims to create jobs for Africa’s youth and support future development.

    “We must work together, with a sense of urgency and commitment, to ensure that no one is left behind in this transformative journey,” Ms. Mohammed, stressed.

    Africa’s energy landscape presents a paradox. Despite being rich in renewable resources, the continent grapples with one of the lowest levels of energy access globally. As the UN deputy chief pointed out, nearly 600 million Africans lack access to electricity, making it essential to leverage the continent’s abundant renewable energy resources and critical minerals.

    Unlocking Africa’s potential

    “Africa has immense potential to show the world what a new economic development paradigm grounded in sustainability, resilience, justice, and inclusivity can look like,” Ms. Mohammed stated, and underscored the interconnectedness of enhanced energy access with broader development goals, such as health, education, and gender equality.

    “By advancing long-term energy security and sovereignty, we can foster peace, create green jobs, and build resilient livelihoods – paving the way for improved stability and prosperity across the continent,” she said.  

    She highlighted that with renewable energy now being the cheapest source of new electricity, the Mission 300 initiative represents a transformative opportunity for Africa.

    A shining example: Tanzania’s progress

    Ms. Mohammed praised Tanzania as a beacon of success, showcasing how rural electrification and off-grid renewable energy solutions can transform lives, particularly in remote and underserved areas.  

    “The country has made remarkable strides, with electricity access increasing from just 14 per cent in 2011 to 46 per cent in 2022,” she noted. This progress has led to over one million new connections, driving the rural electrification rate to 72 per cent.

    “This progress means that more boys and girls in remote areas can now study in well-lit classrooms, health workers can deliver life-saving services to off-grid populations, and rural businesses can thrive with reliable power,” said the UN deputy chief, emphasizing that energy access is not just about electricity – it’s about opportunity, equity, and the foundation of a brighter future.

    Policies and reforms for transforming African energy

    In a panel discussion that was held Monday on the theme Policies and Reforms for Transforming African Energy, Ms. Mohammed reiterated the need for comprehensive reforms to accelerate electrification across the continent. She stressed the role of renewable energy in driving sustainable development and reducing greenhouse gas emissions.

    “Africa is rich in renewable energy resources, from solar and wind to hydro and geothermal power,” she said. “By harnessing these resources, we can not only provide electricity to millions but also create green jobs, improve health outcomes, and protect the environment.”

    The Deputy Secretary-General highlighted three key areas for policymakers to focus on: fostering policy coherence, mobilizing finance and support, and enhancing transparent international cooperation.

    UN Tanzania/Muntazar Abuhaidary

    Fostering policy coherence

    Ms. Mohammed underscored the importance of coherent and aligned policies with Sustainable Development Goals (SDGs) and Nationally Determined Contributions (NDCs), the individual climate action plans submitted by each country under the Paris Agreement.  

    “Policy makers and the international institutions need to strive to ensure sector-wide plans are coherent and aligned with the achievement of the SDGs due in 2030, while investors need robust regulatory laws in place to ensure business can operate aligned with them,” she stressed.

    She added that “NDCs must coordinate the transition from fossil fuels with scaling of renewables and grid modernization and expansion, ensuring energy security and affordability.”  

    Ms. Mohammed also emphasized that NDCs represent a unique opportunity for all countries to align their new climate plans and energy strategies, together with addressing adaptation needs.

    Mobilizing finance and support

    While private sector investments are crucial, Ms. Mohammed stressed the importance of public financing, especially in modernizing grid infrastructure to expand access and integrate renewables. “Blending concessional public funds with commercial funds can help multiply renewable energy investments in developing countries,” she noted.

    “We must work to strengthen the health of Africa’s public finances and tackle unsustainable debt burdens that are crowding out essential public investments,” the UN deputy chief added, calling for long-term concessional finance and the implementation of the $1.3 trillion roadmap agreed last year at the UN climate conference in Baku.

    Transparent international cooperation

    Ms. Mohammed went on to emphasize the importance of international investments and cross-border partnerships in delivering electricity projects at a massive scale. “Public private partnerships need to be subject to stable and transparent public procurement rules throughout the whole project cycle,” she said.

    “Transparency and accountability should be a hallmark of Mission 300 and set a new standard for cooperation across the continent,” she concluded.

    African Heads of State commit to energy reforms

    The summit saw African Heads of State commit to concrete reforms and actions to expand access to reliable, affordable, and sustainable electricity. The Dar es Salaam Energy Declaration, endorsed by the summit, outlines the commitments and practical actions needed to achieve the Mission 300 goals.

    “Today, we have taken a significant step towards transforming Africa’s energy landscape,” said President Samia Suluhu Hassan of Tanzania. “By working together and implementing these reforms, we can ensure that our citizens have access to clean and affordable energy, which is essential for their well-being and economic prosperity.”

    Africa can lead clean energy transition

    In her closing remarks, Ms. Mohammed expressed optimism about Africa’s potential to lead the global clean energy transition.  

    “With the right policies and reforms, Africa can become a model for sustainable development and resilience,” she said. “Let us seize this opportunity to create a brighter future for our continent and its people.” 

    MIL OSI United Nations News –

  • MIL-OSI: Parkway International Capital Group Funds $17.5 Million Senior Living Refinance

    Source: GlobeNewswire (MIL-OSI)

    HENDERSON, Nev., Jan. 29, 2025 (GLOBE NEWSWIRE) — Parkway International Capital Group (PIC Group) has successfully closed a $17.5 million refinance loan for a premier senior living development in Henderson, Nevada, demonstrating its expertise in large-scale, customized financing solutions.

    Why the Borrower Chose PIC Group
    The borrower, a leading healthcare and senior living developer with over $500 million in completed projects, selected PIC Group for its:

    * Industry Expertise: Proven success in senior living financing
    * Efficient Execution: Closing within 20 days
    * Tailored Solutions: Structuring that delivered cost savings and flexibility

    Addressing Growing Market Demand
    The project, a 150-unit senior living community with independent living, assisted living, and memory care services, meets rising demand in Henderson, where the senior population continues to grow. This aligns with a projected 44% increase in demand for senior housing by 2030 (NIC data).

    Financial Highlights
    * Loan Amount: $17.5 million
    * Loan Term: 36 Months, up to 5 years amortization
    * Interest Rate: Fixed at 8.98%
    * Loan-to-Value (LTV): 75%, ensuring liquidity and equity balance

    The refinance reduced the borrower’s annual debt service by $450,000 and provided capital for future projects.

    About Parkway International Capital Group
    PIC Group specializes in innovative commercial financing for high-value projects, partnering with clients to deliver tailored solutions and exceptional results.

    Media Contact

    Marvin Fincham
    Visit our website at pic-group.net
    Email us at loans@pic-group.net

    The MIL Network –

  • MIL-OSI: ACNB Corporation Announces First Quarter Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    GETTYSBURG, Pa., Jan. 29, 2025 (GLOBE NEWSWIRE) — ACNB Corporation (NASDAQ: ACNB), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced today that the Board of Directors approved and declared a regular quarterly cash dividend of $0.32 per share of ACNB Corporation common stock payable on March 14, 2025, to shareholders of record as of February 28, 2025. This per share amount reflects a 6.7% increase over the $0.30 per share paid in the first quarter of 2024. This dividend declaration is expected to result in aggregate dividend payments of approximately $3.38 million to ACNB Corporation shareholders in the first quarter of 2025, an increase of approximately 24% over the prior quarter, due to the additional shares expected to be issued to former Traditions Bancorp, Inc. shareholders upon the anticipated close of the acquisition on February 1, 2025.

    ACNB Corporation, headquartered in Gettysburg, PA, is the independent $2.4 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and ACNB Insurance Services, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 27 community banking offices and two loan offices located in the Pennsylvania counties of Adams, Cumberland, Franklin, Lancaster and York and the Maryland counties of Baltimore, Carroll and Frederick. ACNB Insurance Services, Inc. is a full-service insurance agency with licenses in 46 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster and Jarrettsville, MD, and Gettysburg, PA. For more information regarding ACNB Corporation and its subsidiaries, please visit investor.acnb.com.

    FORWARD-LOOKING STATEMENTS – In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of Management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as national, regional and local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties, and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: short-term and long-term effects of inflation and rising costs on the Corporation, customers and economy; effects of governmental and fiscal policies, as well as legislative and regulatory changes; effects of new laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which the Corporation and its subsidiaries must comply; impacts of the capital and liquidity requirements of the Basel III standards; effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short-term and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; effects of economic conditions particularly with regard to the negative impact of any pandemic, epidemic or health-related crisis and the responses thereto on the operations of the Corporation and current customers, specifically the effect of the economy on loan customers’ ability to repay loans; effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; inflation, securities market and monetary fluctuations; risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; effects of technology changes; effects of general economic conditions and more specifically in the Corporation’s market areas; failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism or geopolitical instability; disruption of credit and equity markets; ability to manage current levels of impaired assets; loss of certain key officers; ability to maintain the value and image of the Corporation’s brand and protect the Corporation’s intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses. We caution readers not to place undue reliance on these forward-looking statements. They only reflect Management’s analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Please also carefully review any Current Reports on Form 8-K filed by the Corporation with the SEC.

    ACNB #2025-3

    Contact: Kevin J. Hayes
    SVP/General Counsel,
    Secretary & Chief
    Governance Officer
    717.339.5161
    khayes@acnb.com

    The MIL Network –

  • MIL-OSI: From Expertise to Efficiency: How Law Practice AI Bridge Human Insight and AI Speed

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, Jan. 29, 2025 (GLOBE NEWSWIRE) — Law Practice AI continues to revolutionize the legal field with its groundbreaking product, Demands AI, a tool that combines the best of human expertise with the unparalleled processing speed of artificial intelligence. Designed specifically for personal injury attorneys, AI Demands automates the creation of demand letters while maintaining the accuracy, empathy, and precision that clients expect.

    In an age when every second counts and the competition is high, AI Demands enables lawyers to achieve better results while upholding their professional integrity.

    Bridging Human Insight and AI Power

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    Balancing Innovation with Responsibility

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    Kohan added: “We’re committed to ensuring that every product we create respects the expertise of our users. Practice AI is not about replacing attorneys; it’s about helping them deliver their best work more efficiently.”

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    About Law Practice AI

    Law Practice AI leads the way in developing AI-powered solutions tailored for legal and medical professionals. With products like Demands AI and Doc Reader AI, the company focuses on streamlining workflows, enhancing accuracy, and delivering secure, compliant tools that improve outcomes for professionals and their clients.

    For more information about Law Practice AI’s tools, visit Law Practice AI or contact us below.

    For media inquiries, please contact:
    Law Practice AI
    Address: 21731 Ventura Blvd. #175, Woodland Hills, CA 91364
    Phone: (424) 476-5858
    Email: sales@mylawfirm.ai

    Visit us on social media:
    Facebook | Instagram | LinkedIn | YouTube | X.com

    The MIL Network –

  • MIL-OSI: UPDATE – United Kingdom Investment Trusts

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., Jan. 29, 2025 (GLOBE NEWSWIRE) — Closed-End – David Schachter, Senior Vice President of Gabelli Funds, will travel to the United Kingdom to visit selected investment trusts.

    With over 40 years of experience exclusively with retail, long term, closed-end fund investors, Mr. Schachter, a most senior and experienced veteran of the U.S. Closed-End Fund industry, is also Vice President of The GAMCO Natural Resources, Gold & Income Trust (GNT), which trades on the NYSE.

    During the 19th century, capital was raised through closed-end funds. These funds helped build the railroads, which linked the American continent from sea to sea and led to the nation’s economic success.

    Today, in the early 21st century, closed-end funds are being threatened for elimination by hedged activists for short-term and short-sighted value extraction.

    “Closed-end funds are a metaphor for long-term, patient capital, but they also represent freedom for investors who, in a sector where mass redemptions could force portfolio managers to sell, is an essential ability to those who may not want to be herded into selling.”

    Mr. Schachter plans to visit the Gabelli office as well as the Association of Investment Companies (AIC) and speak with interested U.K. investors.

    Financial professionals and investors are invited to contact Mr. Schachter directly at (914) 921-5057.

    Gabelli Funds, LLC is the adviser to thirteen closed-end funds which trade on the NYSE: Gabelli Equity Trust (GAB), Gabelli Convertible & Income Securities Fund (GCV), Gabelli Multimedia Trust (GGT), Gabelli Utility Trust (GUT), Gabelli Dividend & Income Trust (GDV), Gabelli Global Utility & Income Trust (GLU), GAMCO Global Gold Natural Resources & Income Trust (GGN), The GDL Fund (GDL), Gabelli Healthcare & WellnessRX Trust (GRX), GAMCO Natural Resources, Gold & Income Trust (GNT), Gabelli Global Small and Mid-Cap Value Trust (GGZ), Bancroft Fund (BCV) and Ellsworth Growth & Income Fund (ECF). As of December 31, 2024, the thirteen Gabelli closed-end funds had total assets of $7.3 billion.

    Investors should carefully consider the investment objectives, risks, charges, and expenses of a Fund before investing. For more information regarding the Funds, call:

    David Schachter
    (914) 921-5057
    dschachter@gabelli.com

    A Fund’s NAV per share will fluctuate with changes in the market value of the Fund’s portfolio securities. Stocks are subject to market, economic, and business risks that cause their prices to fluctuate. Investors acquire shares of the Fund on a securities exchange at market value, which fluctuates according to the dynamics of supply and demand. When Fund shares are sold, they may be worth more or less than their original cost. Consequently, you can lose money by investing in a Fund.

    The MIL Network –

  • MIL-OSI: National Fuel Reports First Quarter Earnings

    Source: GlobeNewswire (MIL-OSI)

    WILLIAMSVILLE, N.Y., Jan. 29, 2025 (GLOBE NEWSWIRE) — National Fuel Gas Company (“National Fuel” or the “Company”) (NYSE:NFG) today announced consolidated results for the first quarter of its 2025 fiscal year.

    FISCAL 2025 FIRST QUARTER SUMMARY

    • GAAP net income of $45.0 million (or $0.49 per share), which includes $104.6 million in non-cash, after-tax impairment charges in the Exploration & Production segment, compared to GAAP net income of $133.0 million (or $1.44 per share) in the prior year.
    • Adjusted operating results of $151.9 million (or $1.66 per share), an increase of 14%, or $16.7 million ($0.20 per share), compared to the prior year. See non-GAAP reconciliation on page 2.
    • Pipeline & Storage segment net income increased $8.4 million, or 35%, compared to the prior year, primarily due to the settlement of the Supply Corporation rate case, which led to increased rates effective February 1, 2024.
    • Utility segment net income increased $5.9 million, or 22%, compared to the prior year driven by a three-year settlement of a rate proceeding in the Company’s New York jurisdiction, which led to increased rates starting October 1, 2024.
    • E&P segment adjusted operating results increased $2.6 million, or 5%, compared to the prior year, supported by hedging-related gains, which more than offset the $0.08 per MMBtu decrease in the weighted average natural gas price compared to the prior year.
    • The Company repurchased $34 million of common stock during the quarter, which brings the total amount repurchased to $99 million, or 1.7 million shares, under the $200 million share buyback program, authorized in March 2024.
    • The Company is increasing its guidance for fiscal 2025 adjusted earnings per share to a range of $6.50 to $7.00 as a result of higher forecasted natural gas prices and ongoing improvements in the outlook for each segment.

    MANAGEMENT COMMENTS

    David P. Bauer, President and CEO of National Fuel Gas Company, stated: “Fiscal 2025 is off to a great start for National Fuel, with each business contributing to our strong consolidated adjusted operating results.

    “In our regulated segments, we are delivering on our long-term growth outlook, with adjusted earnings per share in the quarter increasing approximately 30% compared to the prior year. The recent approval of our rate case settlement in our New York utility jurisdiction, which extends through 2027, combined with the ongoing benefits from ratemaking activity in our Pennsylvania utility territory and at Supply Corporation, gives us further confidence in our 7% to 10% earnings growth projections over the next three years. Furthermore, our integrated upstream and gathering operations in the Eastern Development Area (“EDA”) continue to exceed expectations, with the combination of strong operational execution and our highly-prolific assets. This differentiated ability to drive capital efficiency improvements alongside a rising price outlook for natural gas positions these businesses to deliver strong results in the coming years. We expect that these tailwinds will contribute to rising free cash flow across the system and deliver significant value to National Fuel shareholders.”

    RECONCILIATION OF GAAP EARNINGS TO ADJUSTED OPERATING RESULTS

           
      Three Months Ended
      December 31,
    (in thousands except per share amounts) 2024   2023
    Reported GAAP Earnings $ 44,986     $ 133,020  
    Items impacting comparability:      
    Impairment of assets (E&P)   141,802       —  
    Tax impact of impairment of assets   (37,169 )     —  
    Unrealized (gain) loss on derivative asset (E&P)   349       4,198  
    Tax impact of unrealized (gain) loss on derivative asset   (94 )     (1,151 )
    Unrealized (gain) loss on other investments (Corporate / All Other)   2,617       (1,049 )
    Tax impact of unrealized (gain) loss on other investments   (550 )     220  
    Adjusted Operating Results $ 151,941     $ 135,238  
           
    Reported GAAP Earnings Per Share $ 0.49     $ 1.44  
    Items impacting comparability:      
    Impairment of assets, net of tax (E&P)   1.14       —  
    Unrealized (gain) loss on derivative asset, net of tax (E&P)   —       0.03  
    Unrealized (gain) loss on other investments, net of tax (Corporate / All Other)   0.02       (0.01 )
    Rounding   0.01       —  
    Adjusted Operating Results Per Share $ 1.66     $ 1.46  
                   

    FISCAL 2025 GUIDANCE UPDATE

    National Fuel is increasing its guidance for fiscal 2025 adjusted earnings per share, which are now expected to be within a range of $6.50 to $7.00. This updated range incorporates better than expected results in the first quarter along with the anticipated impact of higher natural gas prices and higher production in the Exploration and Production segment for the remainder of the fiscal year. The Company is now assuming NYMEX natural gas prices will average $3.50 per MMBtu for the remaining nine months of fiscal 2025, an increase of $0.70 from the $2.80 per MMBtu assumed in previous guidance. This updated natural gas price projection approximates the current NYMEX forward curve at this time, however; given the continued volatility in NYMEX natural gas prices, the Company is providing the following sensitivities to its adjusted operating results guidance range:

    NYMEX Assumption 
    Remaining 9 months 
    ($/MMBtu)    		 Fiscal 2025 
    Adjusted Earnings 
    Per Share Sensitivities
    $3.00 $6.15 – $6.65
    $3.50 $6.50 – $7.00
    $4.00 $6.90 – $7.40

    The Company’s production guidance for fiscal 2025 is now expected to be in the range of 410 to 425 Bcfe, an increase of 7.5 Bcfe, or 2%, at the midpoint compared to previous guidance. The revised production guidance is principally a result of ongoing improvements in Seneca’s well results and additional operational efficiencies in the highly prolific EDA. This is also expected to result in increased Gathering segment revenue, relative to the Company’s prior projections, and as a result the Company has increased the midpoint of its guidance range by $5 million. While the Company’s guidance does not incorporate any future price-related curtailments, with 87% of its projected fiscal 2025 production linked to firm sales contracts, Seneca has limited exposure to in-basin markets. Further, 71% of expected production for the balance of the fiscal year is either matched by a financial hedge, including a combination of swaps and no-cost collars, or was entered into at a fixed price, both of which provide price certainty for that production.

    Additionally, as a result of operational improvements, the Company is revising Seneca’s capital expenditure guidance range downward to $495 million to $515 million, or $505 million at the midpoint, which is a $5 million decrease from the midpoint of the Company’s previous guidance.

    The Company’s other fiscal 2025 guidance assumptions remain largely unchanged and are detailed in the table on page 7.

    DISCUSSION OF FIRST QUARTER RESULTS BY SEGMENT

    The following earnings discussion of each operating segment for the quarter ended December 31, 2024 is summarized in a tabular form on pages 8 and 9 of this report. It may be helpful to refer to those tables while reviewing this discussion.

    Note that management defines adjusted operating results as reported GAAP earnings adjusted for items impacting comparability, and adjusted EBITDA as reported GAAP earnings before the following items: interest expense, income taxes, depreciation, depletion and amortization, other income and deductions, impairments, and other items reflected in operating income that impact comparability.

    Upstream Business

    Exploration and Production Segment

    The Exploration and Production segment operations are carried out by Seneca Resources Company, LLC (“Seneca”). Seneca explores for, develops and produces primarily natural gas reserves in Pennsylvania.

      Three Months Ended
      December 31,
    (in thousands) 2024   2023   Variance
    GAAP Earnings $ (46,777 )   $ 52,483   $ (99,260 )
    Impairment of assets, net of tax   104,633       —     104,633  
    Unrealized (gain) loss on derivative asset, net of tax   255       3,047     (2,792 )
    Adjusted Operating Results $ 58,111     $ 55,530   $ 2,581  
               
    Adjusted EBITDA $ 156,645     $ 159,970   $ (3,325 )
                         

    Seneca’s first quarter GAAP earnings decreased $99.3 million versus the prior year. This was driven by non-cash, pre-tax impairment charges of $141.8 million ($104.6 million after-tax), the majority of which is related to a “ceiling test” impairment which required Seneca to write-down the book value of its reserves under the full cost method of accounting. For purposes of the ceiling test, the 12-month average of first day of the month pricing for NYMEX natural gas for the period ended December 31, 2024 was $2.13 per MMBtu.

    Excluding impairments, as well as the net impact of unrealized losses related to reductions in the fair value of contingent consideration received in connection with the June 2022 divestiture of Seneca’s California assets (see table above), Seneca’s adjusted operating results increased $2.6 million primarily due to higher realized natural gas prices after the impact of hedging and lower per unit operating expenses, partially offset by lower natural gas production.

    During the first quarter, Seneca produced 97.7 Bcf of natural gas, a decrease of 3.0 Bcf, or 3%, from the prior year. Compared to the preceding fourth quarter of fiscal 2024, production in the first quarter is higher by 5.8 Bcf, or 6%. Early in the quarter, Seneca curtailed approximately 1 Bcf of production due to low in-basin pricing. Production in the quarter was lower than the prior year largely due to the timing of turn in line dates for new wells between fiscal years.

    Seneca’s average realized natural gas price, after the impact of hedging and transportation costs, was $2.53 per Mcf, an increase of $0.02 per Mcf from the prior year. Seneca recorded hedging gains of $29.7 million, or an uplift of $0.30 per Mcf, during the quarter, which more than offset a $0.08 per Mcf decrease in pre-hedge natural gas price realizations versus the prior year.

    On a per unit basis, first quarter Lease Operating Expense (“LOE”) was $0.67 per Mcf, consistent with the prior year. LOE included $55.0 million ($0.56 per Mcf) for gathering and compression services from the Company’s Gathering segment to connect Seneca’s production to sales points along interstate pipelines. General and Administrative Expense (“G&A”) was $0.20 per Mcf, an increase of $0.02 per Mcf compared to the prior year driven by the combination of higher personnel costs and modestly lower production. Depreciation, Depletion and Amortization Expense (“DD&A”) was $0.65 per Mcf, a decrease of $0.06 per Mcf from the prior year largely due to ceiling test impairments recorded in the third and fourth quarters of fiscal 2024 that lowered Seneca’s full cost pool depletable base.

    Midstream Businesses

    Pipeline and Storage Segment

    The Pipeline and Storage segment’s operations are carried out by National Fuel Gas Supply Corporation (“Supply Corporation”) and Empire Pipeline, Inc. (“Empire”). The Pipeline and Storage segment provides natural gas transportation and storage services to affiliated and non-affiliated companies through an integrated system of pipelines and underground natural gas storage fields in western New York and Pennsylvania.

      Three Months Ended
      December 31,
    (in thousands) 2024   2023   Variance
    GAAP Earnings $ 32,454   $ 24,055   $ 8,399
               
    Adjusted EBITDA $ 70,953   $ 59,142   $ 11,811
                     

    The Pipeline and Storage segment’s first quarter GAAP earnings increased $8.4 million versus the prior year primarily due to higher operating revenues, partly offset by higher operation and maintenance (“O&M”) expense.

    The increase in operating revenues of $12.2 million, or 13%, was primarily attributable to an increase in Supply Corporation’s transportation and storage rates effective February 1, 2024, in accordance with its rate settlement, which was approved in fiscal 2024. O&M expense increased $1.1 million primarily due to higher pipeline integrity and labor-related costs.

    Gathering Segment

    The Gathering segment’s operations are carried out by National Fuel Gas Midstream Company, LLC’s limited liability companies. The Gathering segment constructs, owns and operates natural gas gathering pipelines and compression facilities in the Appalachian region, which delivers Seneca and other non-affiliated Appalachian production to the interstate pipeline system.

      Three Months Ended
      December 31,
    (in thousands) 2024   2023   Variance
    GAAP Earnings $ 27,145   $ 28,825   $ (1,680 )
               
    Adjusted EBITDA $ 51,936   $ 53,061   $ (1,125 )
                       

    The Gathering segment’s first quarter GAAP earnings decreased $1.7 million versus the prior year due to lower operating revenues and higher DD&A expense.

    Operating revenues decreased $1.5 million, or 2%, primarily due to a decrease in throughput from Seneca. DD&A expense increased $1.1 million primarily due to higher average depreciable plant in service compared to the prior year.

    Downstream Business

    Utility Segment

    The Utility segment operations are carried out by National Fuel Gas Distribution Corporation (“Distribution Corporation”), which sells or transports natural gas to customers located in western New York and northwestern Pennsylvania.

      Three Months Ended
      December 31,
    (in thousands) 2024   2023   Variance
    GAAP Earnings $ 32,499   $ 26,551   $ 5,948
               
    Adjusted EBITDA $ 60,665   $ 53,366   $ 7,299
                     

    The Utility segment’s first quarter GAAP earnings increased $5.9 million, or 22%, primarily as a result of the implementation of the recent rate case order in the Utility’s New York jurisdiction.

    For the quarter, customer margin (operating revenues less purchased gas sold) increased $9.1 million, primarily due to the aforementioned rate case in Distribution Corporation’s New York jurisdiction, for which a settlement became effective October 1, 2024. Other income, which was also impacted by the rate settlement, increased $4.0 million. This was in large part due to the recognition of non-service pension and post-retirement benefit income that is offset with a corresponding reduction in new base rates and as a result, has no effect on net income.

    O&M expense increased by $1.6 million, primarily driven by higher personnel costs, partially offset by a reduction related to amortizations of certain regulatory assets as a result of the New York rate settlement. DD&A expense increased $0.8 million primarily due to higher average depreciable plant in service compared to the prior year. Interest expense increased $2.3 million primarily due to a higher average amount of net borrowings.

    Corporate and All Other

    The Company’s operations that are included in Corporate and All Other generated a combined net loss of $0.3 million in the current-year first quarter, which was $1.4 million lower than combined earnings of $1.1 million in the prior-year first quarter. The reduction in earnings during the quarter was primarily driven by unrealized losses recorded on investment securities that fund non-qualified retirement benefit plans.

    EARNINGS TELECONFERENCE

    A conference call to discuss the results will be held on Thursday, January 30, 2025, at 9 a.m. ET. All participants must pre-register to join this conference using the Participant Registration link. A webcast link to the conference call will be provided under the Events Calendar on the NFG Investor Relations website at investor.nationalfuelgas.com. A replay will be available following the call through the end of the day, Thursday, February 6, 2025. To access the replay, dial 1-866-813-9403 and provide Access Code 245940.

    National Fuel is an integrated energy company reporting financial results for four operating segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. Additional information about National Fuel is available at www.nationalfuel.com.

    Certain statements contained herein, including statements identified by the use of the words “anticipates,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “predicts,” “projects,” “believes,” “seeks,” “will,” “may” and similar expressions, and statements which are other than statements of historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. The Company’s expectations, beliefs and projections contained herein are expressed in good faith and are believed to have a reasonable basis, but there can be no assurance that such expectations, beliefs or projections will result or be achieved or accomplished. In addition to other factors, the following are important factors that could cause actual results to differ materially from those discussed in the forward-looking statements: impairments under the SEC’s full cost ceiling test for natural gas reserves; changes in the price of natural gas; changes in laws, regulations or judicial interpretations to which the Company is subject, including those involving derivatives, taxes, safety, employment, climate change, other environmental matters, real property, and exploration and production activities such as hydraulic fracturing; governmental/regulatory actions, initiatives and proceedings, including those involving rate cases (which address, among other things, target rates of return, rate design, retained natural gas and system modernization), environmental/safety requirements, affiliate relationships, industry structure, and franchise renewal; the Company’s ability to estimate accurately the time and resources necessary to meet emissions targets; governmental/regulatory actions and/or market pressures to reduce or eliminate reliance on natural gas; changes in economic conditions, including inflationary pressures, supply chain issues, liquidity challenges, and global, national or regional recessions, and their effect on the demand for, and customers’ ability to pay for, the Company’s products and services; the creditworthiness or performance of the Company’s key suppliers, customers and counterparties; financial and economic conditions, including the availability of credit, and occurrences affecting the Company’s ability to obtain financing on acceptable terms for working capital, capital expenditures and other investments, including any downgrades in the Company’s credit ratings and changes in interest rates and other capital market conditions; changes in price differentials between similar quantities of natural gas sold at different geographic locations, and the effect of such changes on commodity production, revenues and demand for pipeline transportation capacity to or from such locations; the impact of information technology disruptions, cybersecurity or data security breaches; factors affecting the Company’s ability to successfully identify, drill for and produce economically viable natural gas reserves, including among others geology, lease availability and costs, title disputes, weather conditions, water availability and disposal or recycling opportunities of used water, shortages, delays or unavailability of equipment and services required in drilling operations, insufficient gathering, processing and transportation capacity, the need to obtain governmental approvals and permits, and compliance with environmental laws and regulations; the Company’s ability to complete strategic transactions; increased costs or delays or changes in plans with respect to Company projects or related projects of other companies, as well as difficulties or delays in obtaining necessary governmental approvals, permits or orders or in obtaining the cooperation of interconnecting facility operators; increasing health care costs and the resulting effect on health insurance premiums and on the obligation to provide other post-retirement benefits; other changes in price differentials between similar quantities of natural gas having different quality, heating value, hydrocarbon mix or delivery date; the cost and effects of legal and administrative claims against the Company or activist shareholder campaigns to effect changes at the Company; negotiations with the collective bargaining units representing the Company’s workforce, including potential work stoppages during negotiations; uncertainty of natural gas reserve estimates; significant differences between the Company’s projected and actual production levels for natural gas; changes in demographic patterns and weather conditions (including those related to climate change); changes in the availability, price or accounting treatment of derivative financial instruments; changes in laws, actuarial assumptions, the interest rate environment and the return on plan/trust assets related to the Company’s pension and other post-retirement benefits, which can affect future funding obligations and costs and plan liabilities; economic disruptions or uninsured losses resulting from major accidents, fires, severe weather, natural disasters, terrorist activities or acts of war, as well as economic and operational disruptions due to third-party outages; significant differences between the Company’s projected and actual capital expenditures and operating expenses; or increasing costs of insurance, changes in coverage and the ability to obtain insurance. The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date thereof.

    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES 

    GUIDANCE SUMMARY

    As discussed on page 2, the Company is revising its adjusted earnings per share guidance for fiscal 2025. Additional details on the Company’s forecast assumptions and business segment guidance are outlined in the table below.

    The revised adjusted earnings per share guidance range excludes certain items that impacted the comparability of adjusted operating results during the three months ended December 31, 2024, including: (1) the after tax impairment of assets, which reduced earnings by $1.14 per share; (2) after-tax unrealized losses on a derivative asset, which reduced earnings by less than $0.01 per share; and (3) after-tax unrealized losses on other investments, which reduced earnings by $0.02 per share. While the Company expects to record certain adjustments to unrealized gain or loss on a derivative asset and unrealized gain or loss on investments during the nine months ending September 30, 2025, the amounts of these and other potential adjustments and charges, including ceiling test impairments, are not reasonably determinable at this time. As such, the Company is unable to provide earnings guidance other than on a non-GAAP basis.

      Previous FY 2025 Guidance   Updated FY 2025 Guidance
           
    Consolidated Adjusted Earnings per Share $5.50 to $6.00   $6.50 to $7.00
    Consolidated Effective Tax Rate ~ 24.5 – 25%   ~ 25%
           
    Capital Expenditures(Millions)      
    Exploration and Production $495 – $525   $495 – $515
    Pipeline and Storage $130 – $150   $130 – $150
    Gathering $95 – $110   $95 – $110
    Utility $165 – $185   $165 – $185
    Consolidated Capital Expenditures $885 – $970   $885 – $960
           
    Exploration and Production Segment Guidance      
           
    Commodity Price Assumptions*      
    NYMEX natural gas price $2.80 /MMBtu   $3.50 /MMBtu
    Appalachian basin spot price $2.00 /MMBtu   $2.90 /MMBtu
           
    Realized natural gas prices, after hedging ($/Mcf) $2.47 – $2.51   $2.77 – $2.81
           
    Production (Bcf) 400 to 420   410 to 425
           
    E&P Operating Costs($/Mcf)      
    LOE $0.68 – $0.70   $0.68 – $0.70
    G&A $0.18 – $0.19   $0.18 – $0.19
    DD&A $0.65 – $0.69   $0.63 – $0.67
           
    Other Business Segment Guidance(Millions)      
    Gathering Segment Revenues $245 – $255   $250 – $260
    Pipeline and Storage Segment Revenues $415 – $435   $415 – $435
           

    * Commodity price assumptions are for the remaining nine months of the fiscal year.

    NATIONAL FUEL GAS COMPANY
    RECONCILIATION OF CURRENT AND PRIOR YEAR GAAP EARNINGS
    QUARTER ENDED DECEMBER 31, 2024
    (Unaudited)
                           
      Upstream   Midstream   Downstream        
                           
      Exploration &   Pipeline &           Corporate /    
    (Thousands of Dollars) Production   Storage   Gathering   Utility   All Other   Consolidated*
                           
    First quarter 2024 GAAP earnings $ 52,483     $ 24,055     $ 28,825     $ 26,551     $ 1,106     $ 133,020  
    Items impacting comparability:                      
    Unrealized (gain) loss on derivative asset   4,198                       4,198  
    Tax impact of unrealized (gain) loss on derivative asset   (1,151 )                     (1,151 )
    Unrealized (gain) loss on other investments                   (1,049 )     (1,049 )
    Tax impact of unrealized (gain) loss on other investments                   220       220  
    First quarter 2024 adjusted operating results   55,530       24,055       28,825       26,551       277       135,238  
    Drivers of adjusted operating results**                      
    Upstream Revenues                      
    Higher (lower) natural gas production   (6,016 )                     (6,016 )
    Higher (lower) realized natural gas prices, after hedging   1,885                       1,885  
    Midstream Revenues                      
    Higher (lower) operating revenues       9,637       (1,151 )             8,486  
    Downstream Margins***                      
    Impact of usage and weather               (325 )         (325 )
    Impact of new rates in New York               7,865           7,865  
    Operating Expenses                      
    Lower (higher) lease operating and transportation expenses   1,133                       1,133  
    Lower (higher) operating expenses       (856 )         (1,244 )         (2,100 )
    Lower (higher) depreciation / depletion   6,842           (835 )     (624 )         5,383  
    Other Income (Expense)                      
    Higher (lower) other income   (1,680 )             3,176       1,686       3,182  
    (Higher) lower interest expense               (1,785 )         (1,785 )
    Income Taxes                      
    Lower (higher) income tax expense / effective tax rate   (8 )     (488 )     443       (584 )     205       (432 )
    All other / rounding   425       106       (137 )     (531 )     (436 )     (573 )
    First quarter 2025 adjusted operating results   58,111       32,454       27,145       32,499       1,732       151,941  
    Items impacting comparability:                      
    Impairment of assets   (141,802 )                     (141,802 )
    Tax impact of impairment of assets   37,169                       37,169  
    Unrealized gain (loss) on derivative asset   (349 )                     (349 )
    Tax impact of unrealized gain (loss) on derivative asset   94                       94  
    Unrealized gain (loss) on other investments                   (2,617 )     (2,617 )
    Tax impact of unrealized gain (loss) on other investments                   550       550  
    First quarter 2025 GAAP earnings $ (46,777 )   $ 32,454     $ 27,145     $ 32,499     $ (335 )   $ 44,986  
                           
    * Amounts do not reflect intercompany eliminations.           
    ** Drivers of adjusted operating results have been calculated using the 21% federal statutory rate.
    *** Downstream margin defined as operating revenues less purchased gas expense.
     
    NATIONAL FUEL GAS COMPANY
    RECONCILIATION OF CURRENT AND PRIOR YEAR GAAP EARNINGS PER SHARE
    QUARTER ENDED DECEMBER 31, 2024
    (Unaudited)
                           
      Upstream   Midstream   Downstream        
                           
      Exploration &   Pipeline &           Corporate /    
      Production   Storage   Gathering   Utility   All Other   Consolidated*
                           
    First quarter 2024 GAAP earnings per share $ 0.57     $ 0.26     $ 0.31     $ 0.29     $ 0.01     $ 1.44  
    Items impacting comparability:                      
    Unrealized (gain) loss on derivative asset, net of tax   0.03                       0.03  
    Unrealized (gain) loss on other investments, net of tax                   (0.01 )     (0.01 )
    First quarter 2024 adjusted operating results per share   0.60       0.26       0.31       0.29       —       1.46  
    Drivers of adjusted operating results**                      
    Upstream Revenues                      
    Higher (lower) natural gas production   (0.07 )                     (0.07 )
    Higher (lower) realized natural gas prices, after hedging   0.02                       0.02  
    Midstream Revenues                      
    Higher (lower) operating revenues       0.11       (0.01 )             0.10  
    Downstream Margins***                      
    Impact of usage and weather               —           —  
    Impact of new rates in New York               0.09           0.09  
    Operating Expenses                      
    Lower (higher) lease operating and transportation expenses   0.01                       0.01  
    Lower (higher) operating expenses       (0.01 )         (0.01 )         (0.02 )
    Lower (higher) depreciation / depletion   0.08           (0.01 )     (0.01 )         0.06  
    Other Income (Expense)                      
    Higher (lower) other income   (0.02 )             0.03       0.02       0.03  
    (Higher) lower interest expense               (0.02 )         (0.02 )
    Income Taxes                      
    Lower (higher) income tax expense / effective tax rate   —       (0.01 )     —       (0.01 )     —       (0.02 )
    All other / rounding   0.02       —       0.01       —       (0.01 )     0.02  
    First quarter 2025 adjusted operating results per share   0.64       0.35       0.30       0.36       0.01       1.66  
    Items impacting comparability:                      
    Impairment of assets, net of tax   (1.14 )                     (1.14 )
    Unrealized gain (loss) on derivative asset, net of tax   —                       —  
    Unrealized gain (loss) on other investments, net of tax                   (0.02 )     (0.02 )
    Rounding   (0.01 )                     (0.01 )
    First quarter 2025 GAAP earnings per share $ (0.51 )   $ 0.35     $ 0.30     $ 0.36     $ (0.01 )   $ 0.49  
                           
    * Amounts do not reflect intercompany eliminations.           
    ** Drivers of adjusted operating results have been calculated using the 21% federal statutory rate.
    *** Downstream margin defined as operating revenues less purchased gas expense.
     
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
           
    (Thousands of Dollars, except per share amounts)      
      Three Months Ended
      December 31,
      (Unaudited)
    SUMMARY OF OPERATIONS 2024   2023
    Operating Revenues:      
    Utility Revenues $ 228,424     $ 201,920  
    Exploration and Production and Other Revenues   248,860       254,019  
    Pipeline and Storage and Gathering Revenues   72,198       69,422  
        549,482       525,361  
    Operating Expenses:      
    Purchased Gas   65,337       56,552  
    Operation and Maintenance:      
    Utility   55,244       53,705  
    Exploration and Production and Other   33,541       34,826  
    Pipeline and Storage and Gathering   35,941       34,962  
    Property, Franchise and Other Taxes   22,056       22,416  
    Depreciation, Depletion and Amortization   109,370       115,790  
    Impairment of Assets   141,802       —  
        463,291       318,251  
           
    Operating Income   86,191       207,110  
           
    Other Income (Expense):      
    Other Income (Deductions)   7,720       3,732  
    Interest Expense on Long-Term Debt   (33,362 )     (28,462 )
    Other Interest Expense   (4,381 )     (6,273 )
           
    Income Before Income Taxes   56,168       176,107  
           
    Income Tax Expense   11,182       43,087  
           
    Net Income Available for Common Stock $ 44,986     $ 133,020  
           
    Earnings Per Common Share      
    Basic $ 0.50     $ 1.45  
    Diluted $ 0.49     $ 1.44  
           
    Weighted Average Common Shares:      
    Used in Basic Calculation   90,777,446       91,910,244  
    Used in Diluted Calculation   91,434,741       92,442,145  
                   
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (Unaudited)
       
      December 31,   September 30,
    (Thousands of Dollars) 2024   2024
    ASSETS      
    Property, Plant and Equipment $ 14,675,281     $ 14,524,798  
    Less – Accumulated Depreciation, Depletion and Amortization   7,393,477       7,185,593  
    Net Property, Plant and Equipment   7,281,804       7,339,205  
    Current Assets:      
    Cash and Temporary Cash Investments   48,694       38,222  
    Receivables – Net   202,821       127,222  
    Unbilled Revenue   57,117       15,521  
    Gas Stored Underground   24,725       35,055  
    Materials and Supplies – at average cost   47,820       47,670  
    Other Current Assets   83,435       92,229  
    Total Current Assets   464,612       355,919  
    Other Assets:      
    Recoverable Future Taxes   83,740       80,084  
    Unamortized Debt Expense   5,206       5,604  
    Other Regulatory Assets   106,386       108,022  
    Deferred Charges   68,952       69,662  
    Other Investments   71,493       81,705  
    Goodwill   5,476       5,476  
    Prepaid Pension and Post-Retirement Benefit Costs   185,224       180,230  
    Fair Value of Derivative Financial Instruments   20,695       87,905  
    Other   7,860       5,958  
    Total Other Assets   555,032       624,646  
    Total Assets $ 8,301,448     $ 8,319,770  
    CAPITALIZATION AND LIABILITIES      
    Capitalization:      
    Comprehensive Shareholders’ Equity      
    Common Stock, $1 Par Value Authorized – 200,000,000 Shares; Issued and      
    Outstanding – 90,612,955 Shares and 91,005,993 Shares, Respectively $ 90,613     $ 91,006  
    Paid in Capital   1,039,705       1,045,487  
    Earnings Reinvested in the Business   1,698,648       1,727,326  
    Accumulated Other Comprehensive Loss   (76,153 )     (15,476 )
    Total Comprehensive Shareholders’ Equity   2,752,813       2,848,343  
    Long-Term Debt, Net of Current Portion and Unamortized Discount and Debt Issuance Costs   2,189,421       2,188,243  
    Total Capitalization   4,942,234       5,036,586  
    Current and Accrued Liabilities:      
    Notes Payable to Banks and Commercial Paper   200,000       90,700  
    Current Portion of Long-Term Debt   500,000       500,000  
    Accounts Payable   120,991       165,068  
    Amounts Payable to Customers   42,587       42,720  
    Dividends Payable   46,671       46,872  
    Interest Payable on Long-Term Debt   44,376       27,247  
    Customer Advances   15,295       19,373  
    Customer Security Deposits   36,091       36,265  
    Other Accruals and Current Liabilities   172,409       162,903  
    Fair Value of Derivative Financial Instruments   20,893       4,744  
    Total Current and Accrued Liabilities   1,199,313       1,095,892  
    Other Liabilities:      
    Deferred Income Taxes   1,089,394       1,111,165  
    Taxes Refundable to Customers   303,344       305,645  
    Cost of Removal Regulatory Liability   296,660       292,477  
    Other Regulatory Liabilities   147,561       151,452  
    Other Post-Retirement Liabilities   3,476       3,511  
    Asset Retirement Obligations   199,310       203,006  
    Other Liabilities   120,156       120,036  
    Total Other Liabilities   2,159,901       2,187,292  
    Commitments and Contingencies   —       —  
    Total Capitalization and Liabilities $ 8,301,448     $ 8,319,770  
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
      Three Months Ended
      December 31,
    (Thousands of Dollars) 2024   2023
           
    Operating Activities:      
    Net Income Available for Common Stock $ 44,986     $ 133,020  
    Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
    Impairment of Assets   141,802       —  
    Depreciation, Depletion and Amortization   109,370       115,790  
    Deferred Income Taxes   (5,385 )     38,362  
    Stock-Based Compensation   4,705       4,660  
    Other   7,146       8,041  
    Change in:      
    Receivables and Unbilled Revenue   (115,165 )     (58,459 )
    Gas Stored Underground and Materials and Supplies   10,180       6,915  
    Other Current Assets   8,814       892  
    Accounts Payable   9,703       (3,355 )
    Amounts Payable to Customers   (133 )     1,013  
    Customer Advances   (4,078 )     2,083  
    Customer Security Deposits   (174 )     2,079  
    Other Accruals and Current Liabilities   21,266       28,612  
    Other Assets   (3,892 )     (6,306 )
    Other Liabilities   (9,057 )     (2,403 )
    Net Cash Provided by Operating Activities $ 220,088     $ 270,944  
           
    Investing Activities:      
    Capital Expenditures $ (240,427 )   $ (246,938 )
    Other   5,878       (920 )
    Net Cash Used in Investing Activities $ (234,549 )   $ (247,858 )
           
    Financing Activities:      
    Changes in Notes Payable to Banks and Commercial Paper   109,300       12,500  
    Shares Repurchased Under Repurchase Plan   (33,524 )     —  
    Dividends Paid on Common Stock   (46,872 )     (45,451 )
    Net Repurchases of Common Stock Under Stock and Benefit Plans   (3,971 )     (3,897 )
    Net Cash Provided by (Used in) Financing Activities $ 24,933     $ (36,848 )
           
    Net Increase (Decrease) in Cash and Cash Equivalents   10,472       (13,762 )
    Cash and Cash Equivalents at Beginning of Period   38,222       55,447  
    Cash and Cash Equivalents at December 31 $ 48,694     $ 41,685  
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
               
    SEGMENT OPERATING RESULTS AND STATISTICS
    (UNAUDITED)
               
    UPSTREAM BUSINESS
               
               
      Three Months Ended
    (Thousands of Dollars, except per share amounts) December 31,
    EXPLORATION AND PRODUCTION SEGMENT 2024   2023   Variance
    Total Operating Revenues $ 248,860     $ 254,019     $ (5,159 )
    Operating Expenses:          
    Operation and Maintenance:          
    General and Administrative Expense   19,326       17,793       1,533  
    Lease Operating and Transportation Expense   65,640       67,074       (1,434 )
    All Other Operation and Maintenance Expense   3,867       5,544       (1,677 )
    Property, Franchise and Other Taxes   3,382       3,638       (256 )
    Depreciation, Depletion and Amortization   63,304       71,965       (8,661 )
    Impairment of Assets   141,802       —       141,802  
        297,321       166,014       131,307  
               
    Operating Income (Loss)   (48,461 )     88,005       (136,466 )
               
    Other Income (Expense):          
    Non-Service Pension and Post-Retirement Benefit Credit   37       100       (63 )
    Interest and Other Income (Deductions)   272       (1,513 )     1,785  
    Interest Expense   (15,200 )     (15,268 )     68  
    Income (Loss) Before Income Taxes   (63,352 )     71,324       (134,676 )
    Income Tax Expense (Benefit)   (16,575 )     18,841       (35,416 )
    Net Income (Loss) $ (46,777 )   $ 52,483     $ (99,260 )
    Net Income (Loss) Per Share (Diluted) $ (0.51 )   $ 0.57     $ (1.08 )
               
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
               
    SEGMENT OPERATING RESULTS AND STATISTICS
    (UNAUDITED)
               
    MIDSTREAM BUSINESSES
               
      Three Months Ended
    (Thousands of Dollars, except per share amounts) December 31,
    PIPELINE AND STORAGE SEGMENT 2024   2023   Variance
    Revenues from External Customers $ 68,750     $ 64,826     $ 3,924  
    Intersegment Revenues   37,862       29,587       8,275  
    Total Operating Revenues   106,612       94,413       12,199  
    Operating Expenses:          
    Purchased Gas   (42 )     601       (643 )
    Operation and Maintenance   27,034       25,950       1,084  
    Property, Franchise and Other Taxes   8,667       8,720       (53 )
    Depreciation, Depletion and Amortization   18,585       18,213       372  
        54,244       53,484       760  
               
    Operating Income   52,368       40,929       11,439  
               
    Other Income (Expense):          
    Non-Service Pension and Post-Retirement Benefit Credit   952       1,257       (305 )
    Interest and Other Income   2,040       1,931       109  
    Interest Expense   (11,729 )     (11,725 )     (4 )
    Income Before Income Taxes   43,631       32,392       11,239  
    Income Tax Expense   11,177       8,337       2,840  
    Net Income $ 32,454     $ 24,055     $ 8,399  
    Net Income Per Share (Diluted) $ 0.35     $ 0.26     $ 0.09  
               
               
      Three Months Ended
      December 31,
    GATHERING SEGMENT 2024   2023   Variance
    Revenues from External Customers $ 3,448     $ 4,596     $ (1,148 )
    Intersegment Revenues   57,683       57,992       (309 )
    Total Operating Revenues   61,131       62,588       (1,457 )
    Operating Expenses:          
    Operation and Maintenance   9,429       9,504       (75 )
    Property, Franchise and Other Taxes   (234 )     23       (257 )
    Depreciation, Depletion and Amortization   10,515       9,458       1,057  
        19,710       18,985       725  
               
    Operating Income   41,421       43,603       (2,182 )
               
    Other Income (Expense):          
    Non-Service Pension and Post-Retirement Benefit Credit   —       9       (9 )
    Interest and Other Income   58       73       (15 )
    Interest Expense   (4,210 )     (3,729 )     (481 )
    Income Before Income Taxes   37,269       39,956       (2,687 )
    Income Tax Expense   10,124       11,131       (1,007 )
    Net Income $ 27,145     $ 28,825     $ (1,680 )
    Net Income Per Share (Diluted) $ 0.30     $ 0.31     $ (0.01 )
               
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
               
    SEGMENT OPERATING RESULTS AND STATISTICS
    (UNAUDITED)
               
    DOWNSTREAM BUSINESS
               
               
      Three Months Ended
    (Thousands of Dollars, except per share amounts) December 31,
    UTILITY SEGMENT 2024   2023   Variance
    Revenues from External Customers $ 228,424     $ 201,920     $ 26,504  
    Intersegment Revenues   85       87       (2 )
    Total Operating Revenues   228,509       202,007       26,502  
    Operating Expenses:          
    Purchased Gas   101,473       84,051       17,422  
    Operation and Maintenance   56,260       54,684       1,576  
    Property, Franchise and Other Taxes   10,111       9,906       205  
    Depreciation, Depletion and Amortization   16,827       16,037       790  
        184,671       164,678       19,993  
               
    Operating Income   43,838       37,329       6,509  
               
    Other Income (Expense):          
    Non-Service Pension and Post-Retirement Benefit Credit   5,871       470       5,401  
    Interest and Other Income   528       1,911       (1,383 )
    Interest Expense   (10,716 )     (8,457 )     (2,259 )
    Income Before Income Taxes   39,521       31,253       8,268  
    Income Tax Expense   7,022       4,702       2,320  
    Net Income $ 32,499     $ 26,551     $ 5,948  
    Net Income Per Share (Diluted) $ 0.36     $ 0.29     $ 0.07  
               
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
               
    SEGMENT OPERATING RESULTS AND STATISTICS
    (UNAUDITED)
               
      Three Months Ended
    (Thousands of Dollars, except per share amounts) December 31,
    ALL OTHER 2024   2023   Variance
    Total Operating Revenues $ —     $ —     $ —  
    Operating Expenses:          
    Operation and Maintenance   —       —       —  
        —       —       —  
               
    Operating Income   —       —       —  
    Other Income (Expense):          
    Interest and Other Income (Deductions)   (136 )     (77 )     (59 )
    Interest Expense   (116 )     (81 )     (35 )
    Loss before Income Taxes   (252 )     (158 )     (94 )
    Income Tax Benefit   (59 )     (37 )     (22 )
    Net Loss $ (193 )   $ (121 )   $ (72 )
    Net Loss Per Share (Diluted) $ —     $ —     $ —  
       
      Three Months Ended
      December 31,
    CORPORATE 2024   2023   Variance
    Revenues from External Customers $ —     $ —     $ —  
    Intersegment Revenues   1,341       1,285       56  
    Total Operating Revenues   1,341       1,285       56  
    Operating Expenses:          
    Operation and Maintenance   4,047       3,795       252  
    Property, Franchise and Other Taxes   130       129       1  
    Depreciation, Depletion and Amortization   139       117       22  
        4,316       4,041       275  
               
    Operating Loss   (2,975 )     (2,756 )     (219 )
    Other Income (Expense):          
    Non-Service Pension and Post-Retirement Benefit Costs   (212 )     (387 )     175  
    Interest and Other Income   41,061       41,030       31  
    Interest Expense on Long-Term Debt   (33,362 )     (28,462 )     (4,900 )
    Other Interest Expense   (5,161 )     (8,085 )     2,924  
    Income (Loss) before Income Taxes   (649 )     1,340       (1,989 )
    Income Tax Expense (Benefit)   (507 )     113       (620 )
    Net Income (Loss) $ (142 )   $ 1,227     $ (1,369 )
    Net Income (Loss) Per Share (Diluted) $ (0.01 )   $ 0.01     $ (0.02 )
               
               
      Three Months Ended
      December 31,
    INTERSEGMENT ELIMINATIONS 2024   2023   Variance
    Intersegment Revenues $ (96,971 )   $ (88,951 )   $ (8,020 )
    Operating Expenses:          
    Purchased Gas   (36,094 )     (28,100 )     (7,994 )
    Operation and Maintenance   (60,877 )     (60,851 )     (26 )
        (96,971 )     (88,951 )     (8,020 )
    Operating Income   —       —       —  
    Other Income (Expense):          
    Interest and Other Deductions   (42,751 )     (41,072 )     (1,679 )
    Interest Expense   42,751       41,072       1,679  
    Net Income $ —     $ —     $ —  
    Net Income Per Share (Diluted) $ —     $ —     $ —  
                           
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
               
    SEGMENT INFORMATION (Continued)
    (Thousands of Dollars)
               
      Three Months Ended
      December 31,
      (Unaudited)
              Increase
      2024   2023   (Decrease)
               
    Capital Expenditures:          
    Exploration and Production $ 122,602 (1)(2) $ 160,957 (3)(4) $ (38,355 )
    Pipeline and Storage   19,792 (1)(2)   24,554 (3)(4)   (4,762 )
    Gathering   13,027 (1)(2)   19,569 (3)(4)   (6,542 )
    Utility   36,430 (1)(2)   30,510 (3)(4)   5,920  
    Total Reportable Segments   191,851     235,590     (43,739 )
    All Other   —     —     —  
    Corporate   204     61     143  
    Total Capital Expenditures $ 192,055   $ 235,651   $ (43,596 )
                       

     

    (1) Capital expenditures for the quarter ended December 31, 2024, include accounts payable and accrued liabilities related to capital expenditures of $56.3 million, $4.4 million, $6.0 million, and $4.9 million in the Exploration and Production segment, Pipeline and Storage segment, Gathering segment and Utility segment, respectively. These amounts have been excluded from the Consolidated Statement of Cash Flows at December 31, 2024, since they represent non-cash investing activities at that date.
       
    (2) Capital expenditures for the quarter ended December 31, 2024, exclude capital expenditures of $63.3 million, $14.4 million, $21.7 million and $20.6 million in the Exploration and Production segment, Pipeline and Storage segment, Gathering segment and Utility segment, respectively. These amounts were in accounts payable and accrued liabilities at September 30, 2024 and paid during the quarter ended December 31, 2024. These amounts were excluded from the Consolidated Statement of Cash Flows at September 30, 2024, since they represented non-cash investing activities at that date. These amounts have been included in the Consolidated Statement of Cash Flows at December 31, 2024.
       
    (3) Capital expenditures for the quarter ended December 31, 2023, include accounts payable and accrued liabilities related to capital expenditures of $74.9 million, $5.5 million, $11.1 million, and $6.4 million in the Exploration and Production segment, Pipeline and Storage segment, Gathering segment and Utility segment, respectively. These amounts were excluded from the Consolidated Statement of Cash Flows at December 31, 2023, since they represented non-cash investing activities at that date.
       
    (4) Capital expenditures for the quarter ended December 31, 2023, exclude capital expenditures of $43.2 million, $31.8 million, $20.6 million and $13.6 million in the Exploration and Production segment, Pipeline and Storage segment, Gathering segment and Utility segment, respectively. These amounts were in accounts payable and accrued liabilities at September 30, 2023 and paid during the quarter ended December 31, 2023. These amounts were excluded from the Consolidated Statement of Cash Flows at September 30, 2023, since they represented non-cash investing activities at that date. These amounts have been included in the Consolidated Statement of Cash Flows at December 31, 2023.
       
    DEGREE DAYS                  
                  Percent Colder
                  (Warmer) Than:
    Three Months Ended December 31, Normal   2024   2023   Normal (1)   Last Year (1)
    Buffalo, NY 2,253   1,884   1,858   (16.4)   1.4
    Erie, PA 1,894   1,697   1,664   (10.4)   2.0
                       
    (1) Percents compare actual 2024 degree days to normal degree days and actual 2024 degree days to actual 2023 degree days.
                       
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
               
    EXPLORATION AND PRODUCTION INFORMATION
               
               
      Three Months Ended
      December 31,
              Increase
      2024   2023   (Decrease)
               
    Gas Production/Prices:          
    Production (MMcf)          
    Appalachia   97,717     100,757     (3,040 )
               
    Average Prices (Per Mcf)          
    Weighted Average $ 2.23   $ 2.31   $ (0.08 )
    Weighted Average after Hedging   2.53     2.51     0.02  
               
    Selected Operating Performance Statistics:          
    General and Administrative Expense per Mcf (1) $ 0.20   $ 0.18   $ 0.02  
    Lease Operating and Transportation Expense per Mcf (1)(2) $ 0.67   $ 0.67   $ —  
    Depreciation, Depletion and Amortization per Mcf (1) $ 0.65   $ 0.71   $ (0.06 )
               
    (1)  Refer to page 13 for the General and Administrative Expense, Lease Operating and Transportation Expense and Depreciation, Depletion, and Amortization Expense for the Exploration and Production segment.
     
    (2)  Amounts include transportation expense of $0.57 and $0.56 per Mcf for the three months ended December 31, 2024 and December 31, 2023, respectively.
               
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
               
               
               
    Pipeline and Storage Throughput – (millions of cubic feet – MMcf)
               
      Three Months Ended
      December 31,
              Increase
      2024   2023   (Decrease)
    Firm Transportation – Affiliated 31,870   31,495   375  
    Firm Transportation – Non-Affiliated 171,012   168,606   2,406  
    Interruptible Transportation 62   118   (56 )
      202,944   200,219   2,725  
               
    Gathering Volume – (MMcf)          
      Three Months Ended
      December 31,
              Increase
      2024   2023   (Decrease)
    Gathered Volume 120,961   124,261   (3,300 )
               
               
    Utility Throughput – (MMcf)          
      Three Months Ended
      December 31,
              Increase
      2024   2023   (Decrease)
    Retail Sales:          
    Residential Sales 18,476   17,982   494  
    Commercial Sales 2,919   2,800   119  
    Industrial Sales 199   138   61  
      21,594   20,920   674  
    Transportation 16,942   17,528   (586 )
      38,536   38,448   88  
               

    NATIONAL FUEL GAS COMPANY 
    AND SUBSIDIARIES 
    NON-GAAP FINANCIAL MEASURES

    In addition to financial measures calculated in accordance with generally accepted accounting principles (GAAP), this press release contains information regarding adjusted operating results, adjusted EBITDA and free cash flow, which are non-GAAP financial measures. The Company believes that these non-GAAP financial measures are useful to investors because they provide an alternative method for assessing the Company’s ongoing operating results or liquidity and for comparing the Company’s financial performance to other companies. The Company’s management uses these non-GAAP financial measures for the same purpose, and for planning and forecasting purposes. The presentation of non-GAAP financial measures is not meant to be a substitute for financial measures in accordance with GAAP.

    Management defines adjusted operating results as reported GAAP earnings before items impacting comparability. The following table reconciles National Fuel’s reported GAAP earnings to adjusted operating results for the three months ended December 31, 2024 and 2023:

      Three Months Ended
      December 31,
    (in thousands except per share amounts) 2024   2023
    Reported GAAP Earnings $ 44,986     $ 133,020  
    Items impacting comparability:      
    Impairment of assets (E&P)   141,802       —  
    Tax impact of impairment of assets   (37,169 )     —  
    Unrealized (gain) loss on derivative asset (E&P)   349       4,198  
    Tax impact of unrealized (gain) loss on derivative asset   (94 )     (1,151 )
    Unrealized (gain) loss on other investments (Corporate / All Other)   2,617       (1,049 )
    Tax impact of unrealized (gain) loss on other investments   (550 )     220  
    Adjusted Operating Results $ 151,941     $ 135,238  
           
    Reported GAAP Earnings Per Share $ 0.49     $ 1.44  
    Items impacting comparability:      
    Impairment of assets, net of tax (E&P)   1.14       —  
    Unrealized (gain) loss on derivative asset, net of tax (E&P)   —       0.03  
    Unrealized (gain) loss on other investments, net of tax (Corporate / All Other)   0.02       (0.01 )
    Rounding   0.01       —  
    Adjusted Operating Results Per Share $ 1.66     $ 1.46  
                   

    Management defines adjusted EBITDA as reported GAAP earnings before the following items: interest expense, income taxes, depreciation, depletion and amortization, other income and deductions, impairments, and other items reflected in operating income that impact comparability. The following tables reconcile National Fuel’s reported GAAP earnings to adjusted EBITDA for the three months ended December 31, 2024 and 2023:

      Three Months Ended
      December 31,
    (in thousands) 2024   2023
    Reported GAAP Earnings $ 44,986     $ 133,020  
    Depreciation, Depletion and Amortization   109,370       115,790  
    Other (Income) Deductions   (7,720 )     (3,732 )
    Interest Expense   37,743       34,735  
    Income Taxes   11,182       43,087  
    Impairment of Assets   141,802       —  
    Adjusted EBITDA $ 337,363     $ 322,900  
           
    Adjusted EBITDA by Segment      
    Pipeline and Storage Adjusted EBITDA $ 70,953     $ 59,142  
    Gathering Adjusted EBITDA   51,936       53,061  
    Total Midstream Businesses Adjusted EBITDA   122,889       112,203  
    Exploration and Production Adjusted EBITDA   156,645       159,970  
    Utility Adjusted EBITDA   60,665       53,366  
    Corporate and All Other Adjusted EBITDA   (2,836 )     (2,639 )
    Total Adjusted EBITDA $ 337,363     $ 322,900  
                   
    NATIONAL FUEL GAS COMPANY
    AND SUBSIDIARIES
    NON-GAAP FINANCIAL MEASURES
    SEGMENT ADJUSTED EBITDA
       
      Three Months Ended
      December 31,
    (in thousands) 2024   2023
    Exploration and Production Segment      
    Reported GAAP Earnings $ (46,777 )   $ 52,483  
    Depreciation, Depletion and Amortization   63,304       71,965  
    Other (Income) Deductions   (309 )     1,413  
    Interest Expense   15,200       15,268  
    Income Taxes   (16,575 )     18,841  
    Impairment of Assets   141,802       —  
    Adjusted EBITDA $ 156,645     $ 159,970  
           
    Pipeline and Storage Segment      
    Reported GAAP Earnings $ 32,454     $ 24,055  
    Depreciation, Depletion and Amortization   18,585       18,213  
    Other (Income) Deductions   (2,992 )     (3,188 )
    Interest Expense   11,729       11,725  
    Income Taxes   11,177       8,337  
    Adjusted EBITDA $ 70,953     $ 59,142  
           
    Gathering Segment      
    Reported GAAP Earnings $ 27,145     $ 28,825  
    Depreciation, Depletion and Amortization   10,515       9,458  
    Other (Income) Deductions   (58 )     (82 )
    Interest Expense   4,210       3,729  
    Income Taxes   10,124       11,131  
    Adjusted EBITDA $ 51,936     $ 53,061  
           
    Utility Segment      
    Reported GAAP Earnings $ 32,499     $ 26,551  
    Depreciation, Depletion and Amortization   16,827       16,037  
    Other (Income) Deductions   (6,399 )     (2,381 )
    Interest Expense   10,716       8,457  
    Income Taxes   7,022       4,702  
    Adjusted EBITDA $ 60,665     $ 53,366  
           
    Corporate and All Other      
    Reported GAAP Earnings $ (335 )   $ 1,106  
    Depreciation, Depletion and Amortization   139       117  
    Other (Income) Deductions   2,038       506  
    Interest Expense   (4,112 )     (4,444 )
    Income Taxes   (566 )     76  
    Adjusted EBITDA $ (2,836 )   $ (2,639 )
                   

    Management defines free cash flow as net cash provided by operating activities, less net cash used in investing activities, adjusted for acquisitions and divestitures. The Company is unable to provide a reconciliation of any projected free cash flow measure to its comparable GAAP financial measure without unreasonable efforts. This is due to an inability to calculate the comparable GAAP projected metrics, including operating income and total production costs, given the unknown effect, timing, and potential significance of certain income statement items.

    The MIL Network –

  • MIL-OSI USA: At Confirmation Hearing, Cortez Masto Spars with RFK Jr. on Commitment to Protecting Abortion Access, Lowering Drug Prices

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto
    In the hearing, RFK Jr. said he “didn’t know” if a woman experiencing a life-threatening condition had the right to an abortion.
    Senator Cortez Masto will not vote to confirm Mr. Kennedy to lead the HHS.
    Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) questioned Robert F. Kennedy, Jr., President-elect Trump’s nominee for Secretary of Health and Human Services (HHS) about a woman’s access to life-saving abortion care and President Trump’s Executive Order rescinding Biden-era actions to lower drug prices. Following his distressing answers at the hearing, Senator Cortez Masto announced she would not vote to confirm him to lead HHS.
    First, Senator Cortez Masto asked Mr. Kennedy to acknowledge that a woman having a heart-attack had the right, under a 40-year old federal law, to be given emergency care in hospitals that receive Medicare payments. Mr. Kennedy agreed that she did. Then, Cortez Masto asked “A pregnant woman with life-threatening bleeding from an incomplete miscarriage goes to the ER, and her doctor determines that she needs an emergency abortion. But, she’s in a state where abortion is banned. You would agree also…that federal law protects her right to that emergency care, correct?”
    “Uh…I don’t know,” Mr. Kennedy responded. Under the Emergency Medical Treatment and Active Labor Act (EMTALA) hospitals must provide lifesaving and stabilizing care to patients experiencing medical emergencies, which can include abortion care. Mr. Kennedy also did not know that HHS investigates hospitals who don’t comply with EMTALA.
    Cortez Masto also highlighted that one of President Trump’s first actions in the White House was to revoke a Biden-era executive order that pushed to cut prescription drug costs, and that House Republicans have repeatedly stated that they hope to repeal the Inflation Reduction Act which significantly lowered drug prices for thousands of Americans. She asked Mr. Kennedy what he would do to lower drug costs.
    Mr. Kennedy repeatedly referenced a executive order by the Trump Administration supporting the drug negotiation language passed in the Inflation Reduction Act. While the Centers for Medicare and Medicaid Services did put out a statement today saying they are “committed to incorporating lessons learned to date from the program” into future actions, no such executive order exists. Mr. Kennedy did not offer any additional suggestions to lower drug prices for Americans.
    Mr. Kennedy also displayed a concerning lack of understanding of how Medicaid and Medicare support Nevadans, including by helping keep the doors open for many rural hospitals and community health centers.

    MIL OSI USA News –

  • MIL-OSI Economics: Microsoft Cloud and AI strength drives second quarter results

    Source: Microsoft

    Headline: Microsoft Cloud and AI strength drives second quarter results

    Microsoft Cloud and AI Strength Drives Second Quarter Results

    REDMOND, Wash. — January 29, 2025 — Microsoft Corp. today announced the following results for the quarter ended December 31, 2024, as compared to the corresponding period of last fiscal year:

    ·        Revenue was $69.6 billion and increased 12%

    ·        Operating income was $31.7 billion and increased 17% (up 16% in constant currency)

    ·        Net income was $24.1 billion and increased 10%

    ·        Diluted earnings per share was $3.23 and increased 10%

    “We are innovating across our tech stack and helping customers unlock the full ROI of AI to capture the massive opportunity ahead,” said Satya Nadella, chairman and chief executive officer of Microsoft. “Already, our AI business has surpassed an annual revenue run rate of $13 billion, up 175% year-over-year.”

    “This quarter Microsoft Cloud revenue was $40.9 billion, up 21% year-over-year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. ”We remain committed to balancing operational discipline with continued investments in our cloud and AI infrastructure.”

    Business Highlights

    Revenue in Productivity and Business Processes was $29.4 billion and increased 14% (up 13% in constant currency), with the following business highlights:

    ·        Microsoft 365 Commercial products and cloud services revenue increased 15% driven by Microsoft 365 Commercial cloud revenue growth of 16% (up 15% in constant currency)

    ·        Microsoft 365 Consumer products and cloud services revenue increased 8% driven by Microsoft 365 Consumer cloud revenue growth of 8%

    ·        LinkedIn revenue increased 9%

    ·        Dynamics products and cloud services revenue increased 15% (up 14% in constant currency) driven by Dynamics 365 revenue growth of 19% (up 18% in constant currency)

    Revenue in Intelligent Cloud was $25.5 billion and increased 19%, with the following business highlights:

    ·        Server products and cloud services revenue increased 21% driven by Azure and other cloud services revenue growth of 31%

    Revenue in More Personal Computing was $14.7 billion and was relatively unchanged, with the following business highlights:

    ·        Windows OEM and Devices revenue increased 4%

    ·        Xbox content and services revenue increased 2%

    ·        Search and news advertising revenue excluding traffic acquisition costs increased 21% (up 20% in constant currency)

    Microsoft returned $9.7 billion to shareholders in the form of dividends and share repurchases in the second quarter of fiscal year 2025.

    Business Outlook

    Microsoft will provide forward-looking guidance in connection with this quarterly earnings announcement on its earnings conference call and webcast.

    Quarterly Highlights, Product Releases, and Enhancements 

    Every quarter Microsoft delivers hundreds of products, either as new releases, services, or enhancements to current products and services. These releases are a result of significant research and development investments, made over multiple years, designed to help customers be more productive and secure and to deliver differentiated value across the cloud and the edge.

    Here are the major product releases and other highlights for the quarter, organized by product categories, to help illustrate how we are accelerating innovation across our businesses while expanding our market opportunities.

    Environmental, Social, and Governance (ESG)

    To learn more about Microsoft’s corporate governance and our environmental and social practices, please visit our investor relations Board and ESG website and reporting at Microsoft.com/transparency. 

    Webcast Details

    Satya Nadella, chairman and chief executive officer, Amy Hood, executive vice president and chief financial officer, Alice Jolla, chief accounting officer, Keith Dolliver, corporate secretary and deputy general counsel, and Brett Iversen, vice president of investor relations, will host a conference call and webcast at 2:30 p.m. Pacific time (5:30 p.m. Eastern time) today to discuss details of the company’s performance for the quarter and certain forward-looking information. The session may be accessed at http://www.microsoft.com/en-us/investor. The webcast will be available for replay through the close of business on January 29, 2026.

    Constant Currency

    Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the respective periods. All growth comparisons relate to the corresponding period in the last fiscal year. Microsoft has provided this non-GAAP financial information to aid investors in better understanding our performance. The non-GAAP financial measures presented in this release should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.

    Financial Performance Constant Currency Reconciliation

     

    Three Months Ended December 31,

     ($ in millions, except per share amounts)

    Revenue

    Operating Income

    Net Income

    Diluted Earnings per Share

    2023 As Reported (GAAP)

    $62,020

    $27,032

    $21,870

    $2.93

    2024 As Reported (GAAP)

    $69,632

    $31,653

    $24,108

    $3.23

    Percentage Change Y/Y (GAAP)

    12%

    17%

    10%

    10%

    Constant Currency Impact

    $171

    $206

    $14

    $0.00

    Percentage Change Y/Y Constant Currency

    12%

    16%

    10%

    10%

     

    Segment Revenue Constant Currency Reconciliation

     

    Three Months Ended December 31,

     ($ in millions)

    Productivity and Business Processes

    Intelligent Cloud

    More Personal Computing

    2023 As Reported (GAAP)

    $25,854

    $21,525

    $14,641

    2024 As Reported (GAAP)

    $29,437

    $25,544

    $14,651

    Percentage Change Y/Y (GAAP)

    14%

    19%

    0%

    Constant Currency Impact

    $142

    $(22)

    $51

    Percentage Change Y/Y Constant Currency

    13%

    19%

    0%

    We have recast certain prior period amounts to conform to the way we internally manage and monitor our business.

    Selected Product and Service Revenue Constant Currency Reconciliation        

     

    Three Months Ended December 31, 2024

    Percentage Change Y/Y (GAAP)

    Constant Currency Impact

    Percentage Change Y/Y Constant Currency

    Microsoft Cloud

    21%

    0%

    21%

    Microsoft 365 Commercial products and cloud services

    15%

    0%

    15%

    Microsoft 365 Commercial cloud

    16%

    (1)%

    15%

    Microsoft 365 Consumer products and cloud services

    8%

    0%

    8%

    Microsoft 365 Consumer cloud

    8%

    0%

    8%

    LinkedIn

    9%

    0%

    9%

    Dynamics products and cloud services

    15%

    (1)%

    14%

    Dynamics 365

    19%

    (1)%

    18%

    Server products and cloud services

    21%

    0%

    21%

    Azure and other cloud services

    31%

    0%

    31%

    Windows OEM and Devices

    4%

    0%

    4%

    Xbox content and services

    2%

    0%

    2%

    Search and news advertising excluding traffic acquisition costs

    21%

    (1)%

    20%

     

    About Microsoft

    Microsoft (Nasdaq “MSFT” @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organization on the planet to achieve more.

    Forward-Looking Statements

    Statements in this release that are “forward-looking statements” are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors such as:

    ·        intense competition in all of our markets that may adversely affect our results of operations;

    ·        focus on cloud-based and AI services presenting execution and competitive risks;

    ·        significant investments in products and services that may not achieve expected returns;

    ·        acquisitions, joint ventures, and strategic alliances that may have an adverse effect on our business;

    ·        impairment of goodwill or amortizable intangible assets causing a significant charge to earnings;

    ·        cyberattacks and security vulnerabilities that could lead to reduced revenue, increased costs, liability claims, or harm to our reputation or competitive position;

    ·        disclosure and misuse of personal data that could cause liability and harm to our reputation;

    ·        the possibility that we may not be able to protect information stored in our products and services from use by others;

    ·        abuse of our advertising, professional, marketplace, or gaming platforms that may harm our reputation or user engagement;

    ·        products and services, how they are used by customers, and how third-party products and services interact with them, presenting security, privacy, and execution risks;

    ·        issues about the use of AI in our offerings that may result in reputational or competitive harm, or legal liability;

    ·        excessive outages, data losses, and disruptions of our online services if we fail to maintain an adequate operations infrastructure;

    ·        supply or quality problems;

    ·        government enforcement under competition laws and new market regulation may limit how we design and market our products;

    ·        potential consequences of trade and anti-corruption laws;

    ·        potential consequences of existing and increasing legal and regulatory requirements;

    ·        laws and regulations relating to the handling of personal data that may impede the adoption of our services or result in increased costs, legal claims, fines, or reputational damage;

    ·        claims against us that may result in adverse outcomes in legal disputes;

    ·        uncertainties relating to our business with government customers;

    ·        additional tax liabilities;

    ·        sustainability regulations and expectations that may expose us to increased costs and legal and reputational risk;

    ·        an inability to protect and utilize our intellectual property may harm our business and operating results;

    ·        claims that Microsoft has infringed the intellectual property rights of others;

    ·        damage to our reputation or our brands that may harm our business and results of operations;

    ·        adverse economic or market conditions that may harm our business;

    ·        catastrophic events or geo-political conditions, such as the COVID-19 pandemic, that may disrupt our business;

    ·        exposure to increased economic and operational uncertainties from operating a global business, including the effects of foreign currency exchange; and

    ·        the dependence of our business on our ability to attract and retain talented employees.

    For more information about risks and uncertainties associated with Microsoft’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Microsoft’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting Microsoft’s Investor Relations department at (800) 285-7772 or at Microsoft’s Investor Relations website at http://www.microsoft.com/en-us/investor.

    All information in this release is as of December 31, 2024. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.

    For more information, press only:

    Microsoft Media Relations, WE Communications for Microsoft, (425) 638-7777, rrt@we-worldwide.com

    For more information, financial analysts and investors only:

    Brett Iversen, Vice President, Investor Relations, (425) 706-4400

    Note to editors: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at http://www.microsoft.com/news. Web links, telephone numbers, and titles were correct at time of publication, but may since have changed. Shareholder and financial information, as well as today’s 2:30 p.m. Pacific time conference call with investors and analysts, is available at http://www.microsoft.com/en-us/investor.


     

    MICROSOFT CORPORATION

    INCOME STATEMENTS

    (In millions, except per share amounts) (Unaudited)

    Three Months Ended

     December 31,

    Six Months Ended

     December 31,

     

    2024

     

    2023

     

    2024

     

    2023

    Revenue:

    Product

     $16,219

     $18,941

     $31,491

     $34,476

    Service and other

    53,413

     

    43,079

     

    103,726

     

    84,061

    Total revenue

    69,632

     

    62,020

     

    135,217

     

    118,537

    Cost of revenue:

    Product

    3,856

    5,964

    7,150

    9,495

    Service and other

    17,943

     

    13,659

     

    34,748

     

    26,430

    Total cost of revenue

    21,799

     

    19,623

     

    41,898

     

    35,925

    Gross margin

    47,833

    42,397

    93,319

    82,612

    Research and development

    7,917

    7,142

    15,461

    13,801

    Sales and marketing

    6,440

    6,246

    12,157

    11,433

    General and administrative

    1,823

    1,977

    3,496

    3,451

    Operating income

    31,653

     

    27,032

     

    62,205

     

    53,927

    Other expense, net

    (2,288)

     

    (506)

     

    (2,571)

     

    (117)

    Income before income taxes

    29,365

    26,526

    59,634

    53,810

    Provision for income taxes

    5,257

     

    4,656

     

    10,859

     

    9,649

    Net income

     $24,108

     

     $21,870

     

     $48,775

     

     $44,161

    Earnings per share:

    Basic

     $3.24

     $2.94

     $6.56

     $5.94

    Diluted

     $3.23

     $2.93

     $6.53

     $5.92

    Weighted average shares outstanding:

    Basic

    7,435

    7,432

    7,434

    7,431

    Diluted

    7,468

     

    7,468

     

    7,469

     

    7,465

     


     

    COMPREHENSIVE INCOME STATEMENTS

    (In millions) (Unaudited)

    Three Months Ended

     December 31,

    Six Months Ended

     December 31,

     

    2024

     

    2023

     

    2024

     

    2023

    Net income

     $24,108

     

     $21,870

     

     $48,775

     

     $44,161

    Other comprehensive income (loss), net of tax:

    Net change related to derivatives

    34

    (3)

    24

    18

    Net change related to investments

    (434)

    1,331

    680

    1,071

    Translation adjustments and other

    (1,034)

     

    660

     

    (730)

     

    305

    Other comprehensive income (loss)

    (1,434)

     

    1,988

     

    (26)

     

    1,394

    Comprehensive income

     $22,674

     

     $23,858

     

     $48,749

     

     $45,555

     


     

    BALANCE SHEETS

    (In millions) (Unaudited)

     

    December 31,

    2024

    June 30,

     2024

    Assets

    Current assets:

    Cash and cash equivalents

     $17,482

     $18,315

    Short-term investments

    54,073

    57,228

    Total cash, cash equivalents, and short-term investments

    71,555

    75,543

    Accounts receivable, net of allowance for doubtful accounts of $662 and $830

    48,188

    56,924

    Inventories

    909

    1,246

    Other current assets

    26,428

    26,021

    Total current assets

    147,080

    159,734

    Property and equipment, net of accumulated depreciation of $82,820 and $76,421

    166,902

    135,591

    Operating lease right-of-use assets

    22,816

    18,961

    Equity and other investments

    15,581

    14,600

    Goodwill

    119,191

    119,220

    Intangible assets, net

    25,385

    27,597

    Other long-term assets

    36,943

    36,460

    Total assets

     $533,898

     $512,163

    Liabilities and stockholders’ equity

    Current liabilities:

    Accounts payable

     $22,608

     $21,996

    Short-term debt

    0

    6,693

    Current portion of long-term debt

    5,248

    2,249

    Accrued compensation

    9,176

    12,564

    Short-term income taxes

    6,056

    5,017

    Short-term unearned revenue

    45,508

    57,582

    Other current liabilities

    20,286

    19,185

    Total current liabilities

    108,882

    125,286

    Long-term debt

    39,722

    42,688

    Long-term income taxes

    24,389

    27,931

    Long-term unearned revenue

    2,537

    2,602

    Deferred income taxes

    2,513

    2,618

    Operating lease liabilities

    17,254

    15,497

    Other long-term liabilities

    35,906

    27,064

    Total liabilities

    231,203

    243,686

    Commitments and contingencies

    Stockholders’ equity:

    Common stock and paid-in capital – shares authorized 24,000; outstanding 7,435 and 7,434

    104,829

    100,923

    Retained earnings

    203,482

    173,144

    Accumulated other comprehensive loss

    (5,616)

    (5,590)

    Total stockholders’ equity

    302,695

    268,477

    Total liabilities and stockholders’ equity

     $533,898

     $512,163

     


     

    CASH FLOWS STATEMENTS

    (In millions) (Unaudited)

    Three Months Ended

     December 31,

    Six Months Ended

     December 31,

     

    2024

     

    2023

     

    2024

     

    2023

    Operations

    Net income

     $24,108

     $21,870

     $48,775

     $44,161

    Adjustments to reconcile net income to net cash from operations:

    Depreciation, amortization, and other

    6,827

    5,959

    14,210

    9,880

    Stock-based compensation expense

    3,089

    2,828

    5,921

    5,335

    Net recognized losses on investments and derivatives

    976

    198

    851

    212

    Deferred income taxes

    (1,158)

    (1,702)

    (2,591)

    (2,270)

    Changes in operating assets and liabilities:

    Accounts receivable

    (5,978)

    (2,951)

    8,059

    8,083

    Inventories

    711

    1,474

    338

    969

    Other current assets

    (353)

    725

    (435)

    (71)

    Other long-term assets

    (1,089)

    (1,427)

    (2,850)

    (3,440)

    Accounts payable

    958

    (2,521)

    42

    (1,307)

    Unearned revenue

    (6,338)

    (5,538)

    (11,891)

    (9,664)

    Income taxes

    (3,395)

    (1,554)

    (2,379)

    (129)

    Other current liabilities

    3,217

    1,518

    (2,262)

    (2,588)

    Other long-term liabilities

    716

     

    (26)

     

    683

     

    265

    Net cash from operations

    22,291

     

    18,853

     

    56,471

     

    49,436

    Financing

    Proceeds from issuance (repayments) of debt, maturities of 90 days or less, net

    0

    (8,490)

    (5,746)

    10,202

    Proceeds from issuance of debt

    0

    10,773

    0

    17,846

    Repayments of debt

    0

    (2,916)

    (966)

    (4,416)

    Common stock issued

    256

    261

    962

    946

    Common stock repurchased

    (4,986)

    (4,000)

    (9,093)

    (8,831)

    Common stock cash dividends paid

    (6,170)

    (5,574)

    (11,744)

    (10,625)

    Other, net

    (343)

     

    (201)

     

    (1,232)

     

    (508)

    Net cash from (used in) financing

    (11,243)

     

    (10,147)

     

    (27,819)

     

    4,614

    Investing

    Additions to property and equipment

    (15,804)

    (9,735)

    (30,727)

    (19,652)

    Acquisition of companies, net of cash acquired, and purchases of intangible and other assets

    (1,405)

    (65,029)

    (3,254)

    (66,215)

    Purchases of investments

    (2,050)

    (4,258)

    (3,670)

    (12,718)

    Maturities of investments

    2,604

    4,150

    4,740

    19,868

    Sales of investments

    2,559

    1,600

    4,527

    6,930

    Other, net

    (16)

    1,347

    (929)

    365

    Net cash used in investing

    (14,112)

     

    (71,925)

     

    (29,313)

     

    (71,422)

    Effect of foreign exchange rates on cash and cash equivalents

    (294)

     

    72

     

    (172)

     

    (27)

    Net change in cash and cash equivalents

    (3,358)

    (63,147)

    (833)

    (17,399)

    Cash and cash equivalents, beginning of period

    20,840

     

    80,452

     

    18,315

     

    34,704

    Cash and cash equivalents, end of period

     $17,482

     

     $17,305

     

     $17,482

     

     $17,305

     


     

    SEGMENT REVENUE AND OPERATING INCOME

    (In millions) (Unaudited)

     

    Three Months Ended

     December 31,

     

    Six Months Ended

     December 31,

     

     

     

    2024

     

    2023

     

    2024

     

    2023

    Revenue

     

     

     

     

     

     

     

    Productivity and Business Processes

     $29,437

     

     $25,854

     

     $57,754

     

     $51,080

    Intelligent Cloud

    25,544

     

    21,525

     

    49,636

     

    41,538

    More Personal Computing

    14,651

     

    14,641

     

    27,827

     

    25,919

    Total

     $69,632

     

     $62,020

     

     $135,217

     

     $118,537

    Operating Income

     

     

     

     

     

     

     

    Productivity and Business Processes

     $16,885

     

     $14,515

     

     $33,401

     

     $28,812

    Intelligent Cloud

    10,851

     

    9,555

     

    21,354

     

    18,463

    More Personal Computing

    3,917

     

    2,962

     

    7,450

     

    6,652

    Total

     $31,653

     

     $27,032

     

     $62,205

     

     $53,927

    We have recast certain prior period amounts to conform to the way we internally manage and monitor our business.

     

    MIL OSI Economics –

  • MIL-OSI Submissions: OPEC Fund delivers record US$2.3 billion in development finance in 2024

    Source: OPEC Fund for International Development (the OPEC Fund)

    Highlights in the 49th year of operation included:

    • Lending growth: 35 percent increase y-o-y to US$2.3 billion
    • Triple agriculture and food security investments
    • Climate Action Plan delivery ahead of target
    • Bond placements: US$500 million in January 2024
    • Advancing partnerships: A co-financing agreement with the World Bank Group; MoUs with IFAD, FONPLATA; Country Framework Agreements with Uzbekistan, Kazakhstan, Turkmenistan.

    January 29, 2025: The OPEC Fund for International Development achieved a record US$2.3 billion in new commitments in 2024 — a 35 percent increase year-on-year. These commitments, distributed across 70 projects worldwide, are combating climate change, improving global food security, advancing the energy transition and fostering sustainable economic and social development.

    OPEC Fund President Abdulhamid Alkhalifa said: “In 2024, the OPEC Fund set a new benchmark in delivering impactful development finance to tackle global priorities. Our record commitments not only reflect our capacity to boost climate action and social resilience but also the strength of our cooperation with countries and development partners such as the World Bank and the Arab Coordination Group. As we approach our 50th anniversary, thanks to the strong support from our member countries and capital market investors, we are well positioned to maximize impact and create lasting benefits for communities worldwide.”

    In 2024, the OPEC Fund’s financing supported projects across the Middle East and North Africa & Europe and Central Asia (39 percent of total commitments), Sub-Saharan Africa (34 percent), Asia and the Pacific (13 percent) as well as Latin America & the Caribbean (11 percent). The remaining 3 percent of financing was provided to support regional and global projects. The funds were delivered through a range of financial instruments in public and private sector lending, trade finance and grants operations.

    The largest segment of last year’s funding was policy-based lending (19 percent), supporting government-led sustainable development programs and policy implementation in countries such as Armenia (US$50 million), Cote D’Ivoire (US$60 million), Jordan (US$100 million), Montenegro (US$50 million) , Morocco (US$100 million),  Sri Lanka (US$50 million) and Uzbekistan (US$70 million). 

    Significant delivery to support global food security and climate action:

    Compared to 2023, the OPEC Fund tripled its commitments to the agriculture sector, in line with its strategic priority to boost global food security. The OPEC Fund provided US$261 million in financing to promote agricultural sustainability in Benin (US$26 million), Eswatini (US$20 million), Honduras (US$15 million), Lesotho (US$20 million), Malawi (US$20 million), Rwanda (US$20 million), Tanzania (US$50 million) and Türkiye (US$50 million).

    In 2024, the OPEC Fund delivered on its Climate Action Plan ahead of target. Aligned with this strategy, renewable energy projects constituted nearly 40 percent of the institution’s energy sector commitments last year. These included the Begana and Gamri hydro project in Bhutan (US$50 million), the Suez wind farm in Egypt (US$30 million), the Rogun hydropower project in Tajikistan (US$25 million) and a 42 MW wind farm in Uganda (US$16.5 million). Additional energy investments targeted improved transmission and connectivity in the Dominican Republic (two US$60 million loans) and Mauritania (US$40 million), as well as expanded energy access in Uzbekistan (US$37.5 million), all contributing to Sustainable Development Goal 7 – Clean and Affordable Energy.

    Boosting sustainable and climate resilient infrastructure, significant funding (12 percent) was delivered to enhance connectivity in the transport sector. Major projects included investments in Madagascar (US$30 million), Oman (US$180 million), Paraguay (US$50 million), Senegal (US$38 million), Tanzania (US$41 million)  and Uganda (US$30 million).

    In the financial sector, the OPEC Fund allocated more than US$270 million to partner with governments and local banks for on-lending to small and medium-sized enterprises, driving job creation and enhancing access to finance in Armenia, Bangladesh, Bosnia and Herzegovina, the Dominican Republic, Nepal, Paraguay and Uzbekistan. Another US$375 million in trade finance supported the movement of critical commodities and goods, including agricultural products, to and from developing economies.

    In 2024, the OPEC Fund strengthened partnerships with key institutions, including the African Development Bank (AfDB), Arab Coordination Group (ACG), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB); signed a co-financing agreement with the World Bank Group and MoUs with the International Fund for Agricultural Development (IFAD) and FONPLATA. The OPEC Fund also signed Country Framework Agreements with Uzbekistan, Kazakhstan, Turkmenistan aiming to further deepen the institution’s impact in the Central Asia region.

    About the OPEC Fund

    The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$29 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA+, Outlook Stable by S&P. Our vision is a world where sustainable development is a reality for all.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: DRC – Humanitarian catastrophe unfolds in North and South Kivu as violence escalates: INGOs call for immediate action

    Source: Physicians for Human Rights (PHR)

    29 Jan 2025 – Press release from the International NGO Forum in the Democratic Republic of Congo

    International Non-Governmental Organizations (INGOs) operating in the Democratic Republic of Congo (DRC) express their grave concern over consequences of ongoing combats in the city of Goma since Sunday, marked by the deployment of M23/AFC supported by Rwanda Defense Forces, and the rapidly deteriorating humanitarian situation in North and South Kivu.

    Despite the challenges and forced sheltering in place of their staff, ready to provide urgently needed support, humanitarian NGOs remain committed to staying and delivering aid in North and South Kivu.

    Escalating fighting in and around Goma has engulfed densely populated areas, placing tens of thousands of civilians in immediate danger and direct harm. Active hostilities, including heavy artillery and small arms fire, have been reported in and around Goma’s outskirts. Relentless bombing and shelling have been heard in all neighborhoods, heightening fear among the local population and displaced communities alike.

    Multiple humanitarian compounds, including NGO offices, health centers, and warehouses, have been directly impacted by the fighting. Several humanitarian organizations have had their compounds shelled and entered by combatants. Military positions have been placed near humanitarian offices, including downtown areas. Several humanitarian facilities storing essential resources to support the population have been looted. Looting and shell impacts have further diminished aid stocks, hampering future service delivery. Essential civilian infrastructures, such as healthcare facilities, schools, and markets, are also attacked or under threat. All must be protected, as well as humanitarian workers, in accordance with international humanitarian law.

    In the three weeks leading to ongoing battle in Goma, intensifying conflict between the M23/AFC, the Congolese army and their allies had already displaced 400,000 new people, adding to the 4.6 million people already uprooted by years of violence in eastern DRC. Protection issues, including attacks on civilians, sexual violence, and human rights violations, have reached epidemic levels.

    In Goma and surroundings, the situation has reached a breaking point. The city, a vital hub for over 2 million people, including 696,650 internally displaced persons (IDPs), had already seen 30,000 additional displaced people arrive between January 6 and 22, with many more unaccounted for. While the situation in Goma is extremely tense, with INGOs forced to halt operations due to insecurity, organizations are preparing to respond to the growing humanitarian needs, despite already overstretched resources .

    Ongoing hostilities are forcing many families to abandon camps due to insecurity and regroup in the city or other overcrowded sites, further worsening their already precarious living conditions, with no safe space to go. Repeated attacks on critical infrastructure, including electrical grids, increasingly paralyze water supply systems, leaving the city without access to safe drinking water.

    As a central hub for humanitarian operations in the region, Goma plays a vital role in coordinating and delivering assistance across North and South Kivu and most of Eastern DRC. The ongoing conflict could have catastrophic consequences, overwhelming already strained resources, disrupting aid delivery, and jeopardizing the entire humanitarian response in the province.

    “Immediate diplomatic action is urgently needed. All parties to the conflict must uphold their obligations under international law to protect civilians from harm, ensuring their freedom of movements, and protection of humanitarian workers”, says Luc Lamprière, Director of DRC INGO Forum.”Humanitarians are there and ready. Safe and unhindered humanitarian access to deliver life-saving assistance must be an absolute priority to mitigate further deterioration of the crisis”, he adds.

    Gunfire near Goma Airport and overall security situation in other areas has led to the suspension of all flights, including humanitarian, further limiting the movement of humanitarian workers and relief supplies. Internet access is also severely impacted and often interrupted. In North and South Kivu, humanitarian access is now severely restricted due to widespread violence and insecurity, which have rendered many key routes impassable. Roads to critical areas such as Lubero are blocked by ongoing clashes and the presence of armed groups, cutting off vital aid supplies and leaving thousands without assistance.

    In Minova, South Kivu, since M23 took control of the city on January 21, stocks of essential medicines are rapidly depleting. While healthcare partners do their utmost to continue to provide critical services where possible, despite heavy artillery risks and proximity to frontline clashes, humanitarian access has been completely cut off. The delivery of essential goods such as food and medicines is close to impossible, and civilians are trapped without safe options for evacuation.

    Humanitarian organizations urgently call on all parties to the conflict to agree to the establishment of safe access to enable the resupply of critical medical and humanitarian supplies, safe civilian movement, and the rotation of humanitarian staff. Specifically, access in and out of Goma, and between Minova and Bukavu, must be prioritized to ensure life-saving assistance reaches affected populations.

    Donors must be prepared to mobilize humanitarian funding to address the immediate needs of affected populations and to support their long-term resilience. This includes providing food, shelter, water, healthcare, and protection services. The international community must act swiftly to prevent further suffering and ensure that the humanitarian response can meet the escalating needs.

    For further information on this communication, please contact: representante-goma@forumongirdc.org

    The INGO Forum in DRC is an independent body of over 124 international non-governmental organizations (INGOs). Forum members cover all the country’s provinces and work in all humanitarian, development, and peace-building sectors. Most INGOs members of the Forum have an active presence in Eastern DRC, including the provinces of North and South Kivu.

    MIL OSI – Submitted News –

  • MIL-OSI Video: Secretary Rubio meets with Canadian Foreign Minister Mélanie Joly

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

    Secretary of State Marco A. Rubio meets with Canadian Foreign Minister Mélanie Joly at the Department of State, on January 29, 2025.

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at www.state.gov and on social media!
    Facebook: https://www.facebook.com/statedept
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    Subscribe to the State Department Blog: https://www.state.gov/blogs
    Watch on-demand State Department videos: https://video.state.gov/
    Subscribe to The Week at State e-newsletter: http://ow.ly/diiN30ro7Cw

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    #StateDepartment #DepartmentofState #Diplomacy

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

    MIL OSI Video –

  • MIL-OSI New Zealand: Universities – Remarkable climate solutions nominated for this year’s Earthshot Prize – Vic

    Source: Te Herenga Waka—Victoria University of Wellington

    An ocean remediation project, a predator-free blueprint, cleaner greenhouses, and a clean technology pioneer are the nominees put forward this year by Te Herenga Waka—Victoria University of Wellington to be considered for one of five £1,000,000 ($1.9m NZD) 2025 Earthshot Prizes.

    The Earthshot Prize finds and grows the solutions that will repair our planet, addressing the challenge to regenerate the place we all call home in the next ten years. As a thought leader in sustainability, the University is the only official nominator based in New Zealand.

    These remarkable sustainability solutions were selected by a panel for their potential for global impact, ability to be scaled or replicated, various environmental metrics, and solid organisational foundations.

    The Earthshot Prize has a network of nominators all over the world who nominate game-changing innovations that will help repair the planet, awarding the best five solutions each year with £1 million to scale their work. The independent charity was founded by Prince William, and former Prime Minister, Dame Jacinda Ardern, is on the Board of Trustees.

    The prizes are awarded to projects that highlight human ingenuity, drive change, and inspire collective action. The Earthshot Prize not only makes available the transformative financial resources of £5 million per year, it also has built a global, diverse, and hugely influential network of partnerships and collaborations involved with all levels of how the Prize works. All finalists get access to mentoring and support throughout the process.

    In 2023, one of the University’s nominees, Sea Forest Ltd, was one of the fifteen finalists for The Earthshot Prize. (ref. https://www.wgtn.ac.nz/sustainability/about-us/news/methane-busting-seaweed-a-finalist-for-international-earthshot-prize )

    The University’s nominees this year are:

    Predator Free Wellington

    New Zealand is at the top of the global list for threatened or endangered native species resulting from predation by introduced mammals. Predator Free Wellington is creating the world’s first predator-free capital city where native wildlife and communities thrive. They are creating the urban blueprint for the Predator Free Aotearoa New Zealand 2050 goal. The Predator Free Wellington team are developing a scalable, replicable system to permanently eliminate target introduced predators (rats, possums, mustelids) from Wellington city’s 30,000 hectares. This transformational project is a world-first, being delivered in partnership with every single resident and providing a replicable system for urban environments everywhere.

    Kaipara Moana Remediation

    The Kaipara is the southern hemisphere’s largest harbour and a place of global importance. Once home to ancient forests, the 600,000-hectare catchment is now degraded by land clearance, with around 700,000 tonnes of sediment flowing into the harbour each year, and 90 percent of wetlands lost. Through novel collaborations, investment in people, and ‘end-to-end’ support, Kaipara Moana Remediation mobilises landowners, iwi/hapū, communities, industry, and government to protect 16,200 kilometres of riparian margins, regenerate wetlands, and re-forest eroding hillsides. Using next-generation digital tools to identify ‘hotspots’ in the landscape, Kaipara Moana Remediation supports landowners to offset on-farm emissions, restore ecosystem remnants, and improve resilience to cyclones and floods impacting local communities.

    Hot Lime Labs

    Seventy percent of commercial greenhouses use natural gas for heat and yield-boosting CO2. The CO2 byproduct from natural gas is critical for greenhouses as it boosts yield by around 20 percent. No other greenhouse heating solution delivers clean CO2, so transitioning from natural gas carries a huge penalty and a major abatement challenge. The Hot Lime Labs vision is to decarbonise half the world’s greenhouses by 2030, reducing fossil emissions by 120 megatons per year. Hot Lime extracts CO2 from forestry and crop waste, replacing fossil-based CO2. Their solution delivers renewable CO2, boosting customer yields and enabling greenhouses to transition to renewable heating and decarbonise their operations.

    Mint Innovation

    As global mineral reserves deplete and decarbonisation becomes existential, Mint Innovation offers a sustainable solution. Mint is a clean technology pioneer, leveraging the world’s fastest growing waste streams and transforming them into value for a greener future. Their patented low-carbon technologies recover critical metals, such as copper, lithium, cobalt, nickel and rare earths from waste streams such as e-waste and spent li-ion batteries. Mint brings its world-first technology to these waste streams in city-scale facilities to return low-carbon metals back into local economies. The technology will help reduce our reliance on unsustainable practices like smelting and mining for mineral recovery, while diverting waste from landfills and preventing the export of hazardous waste to developing nations where it is typically disposed of in dangerous and highly pollutive ways.

    MIL OSI New Zealand News –

  • MIL-OSI Security: Mexican National Sentenced for Passport Fraud and Illegal Reentry

    Source: Office of United States Attorneys

    Aberdeen, Mississippi – Joaquin Lineares-Rodriguez, a Mexican national, was sentenced Tuesday following his guilty plea to passport fraud and Illegal Reentry of a Removed Alien. This was Lineares-Rodriguez’s third conviction for Illegal Reentry into the United States.

    According to court documents, Lineares-Rodriguez was charged with passport fraud following an attempt to gain a U.S. passport. The defendant made numerous false statements in his passport application. These false statements led to an investigation by agents with the Diplomatic Security Service, who investigate visa and passport fraud as a part of the Department of State. During the course of their investigation, agents learned that Lineares-Rodriguez had multiple prior deportations. Agents with Homeland Security assisted in the investigation.

    Lineares-Rodriguez was sentenced by U.S. District Judge Sharion Aycock to 18 months incarceration. Following his sentence, DHS and ICE will be notified and Lineares-Rodriguez will be taken into ICE custody pending removal proceedings.

    Following the sentencing, U.S. Attorney Clay Joyner noted the importance of this prosecution, stating, “Illegal reentry into the United States, and using fraudulent passports to do so, will never be rewarded; these crimes will instead be met will the full prosecutorial powers of the Department of Justice and this office. The joint efforts by AUSA John Herzog, and the Departments of State and Homeland Security are to be commended and will serve as a template for success moving forward. Hopefully, a prison sentence will deter yet another illegal re-entry by this defendant.”

    This case was investigated by Diplomatic Security Service of the U.S. Department of State and the Department of Homeland Security. The case was prosecuted by AUSA John Herzog Jr.

    MIL Security OSI –

  • MIL-OSI Security: Second Defendant Admits His Role in ATM Skimming Bank Fraud Conspiracy

    Source: Office of United States Attorneys

    PROVIDENCE – A second Romanian national has admitted to a federal judge in Rhode Island that he participated in a conspiracy that installed card skimming devices on bank ATMs in at least six states, including Rhode Island, announced United States Attorney Zachary A. Cunha.

    Mario Demarco, a/k/a Marius Lupu a/k/a David Ademec, until recently residing in Queens, New York, pleaded guilty today to a charge of conspiracy to commit bank fraud. A co-defendant, Stefano Garioli, a/k/a Dumitru Bogdan Pancu a/k/a Leon Vutkus, also of Queens, New York, pleaded guilty on December 11, 2024, to the same charge.

    According to information presented to the court, for more than two years, beginning in May 2022, the two men conspired together and with others to commit bank fraud by placing skimming devices on ATM machines in order to steal customer bank account information and PINs. The stolen information was used to clone counterfeit bank cards that were then used to fraudulently withdraw money from the bank accounts of unsuspecting customers. 

    The ATM skimmer conspiracy first came to the attention law enforcement on July 5, 2024, when a bank branch manager notified the Warwick Police Department that bank surveillance video had captured two men, later identified as the defendants, placing a skimming device inside a drive-up ATM. Nearby security video also captured images of the two men’s vehicle. The same vehicle was also identified as having been present two days earlier when a skimming device was placed inside an ATM at a North Kingstown bank branch.

    On July 6, 2024, Cranston Police reported that a vehicle matching the one recorded by bank security cameras had been captured on a Flock camera in their city. Warwick Police responded to the area of the camera and located the vehicle. Demarco was detained as he walked away from a nearby ATM; Garioli was located sitting in the vehicle.

    Further investigation determined that the two men had worked together and with others for more than two years placing skimmer devices on ATMs in Rhode Island, Massachusetts, Connecticut, New York, New Jersey, and Pennsylvania.

    DeMarco and Garioli are scheduled to be sentenced on May 6, 2025. The defendants’ sentences will be determined by a federal district judge after consideration of the U.S. Sentencing Guidelines and other statutory factors.

    The case is being prosecuted by Assistant United States Attorney Ly T. Chin.

    The matter was investigated by Homeland Security Investigations with assistance from the Warwick, RI Police Department, Cranston, RI Police Department, East Greenwich, RI  Police Department, North Kingstown, RI  Police Department, East Providence, RI Police Department, Boston, MA Police Department, New York City Police Department, and the Stratford, CT Police Department.

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