Category: Weather

MIL-OSI: Weatherford Third Quarter 2024 Results

Source: GlobeNewswire (MIL-OSI)

Revenues of $1,409 million increased 7% year-over-year
Operating income of $243 million increased 11% year-over-year
Net income of $157 million increased 28% year-over-year; net income margin of 11.1%
Adjusted EBITDA* of $355 million increased 16% year-over-year; adjusted EBITDA margin* of 25.2% increased by 197 basis points year-over-year
Cash provided by operating activities of $262 million, an increase of $112 million sequentially and $90 million year-over-year; adjusted free cash flow* of $184 million, an increase of $88 million sequentially and $47 million year-over-year
Received credit rating upgrade from S&P Global Ratings to ‘BB-’ with positive outlook, and from Fitch to ‘BB-’ with stable outlook
Shareholder returns of $68 million for the quarter, which includes dividends payment of $18 million and share repurchases of $50 million
Board approved quarterly cash dividend of $0.25 per share payable on December 5, 2024 to shareholders of record as of November 6, 2024
Deployment of Victus™ Managed Pressure Drilling (MPD) systems in the first two deep geothermal exploration wells that have been drilled for a major operator in the Middle East
Aramco awarded Weatherford a three-year Corporate Procurement Agreement (CPA) including Cementation Products, Completions, Liner Hangers, and Whipstocks, as well as associated service agreements, to enhance its operational efficiency and strategic goals
Hosted 20^th annual FWRD conference focused on digitalization and next-generation life-of-well solutions to boost efficiency, sustainability, and performance

*Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

HOUSTON, Oct. 22, 2024 (GLOBE NEWSWIRE) — Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the third quarter of 2024.

Revenues for the third quarter of 2024 were $1,409 million, an increase of 0.3% sequentially and an increase of 7% year-over-year. Operating income was $243 million in the third quarter of 2024, compared to $264 million in the second quarter of 2024 and $218 million in the third quarter of 2023. Net income in the third quarter of 2024 was $157 million, with an 11.1% margin, an increase of 26% or 225 basis points sequentially, and an increase of 28% or 177 basis points year-over-year. Adjusted EBITDA* was $355 million, a 25.2% margin, a decrease of 3% or 78 basis points sequentially, and an increase of 16% or 197 basis points year-over-year. Basic income per share in the third quarter of 2024 was $2.14 compared to $1.71 in the second quarter of 2024 and $1.70 in the third quarter of 2023. Diluted income per share in the third quarter of 2024 was $2.06 compared to $1.66 in the second quarter of 2024 and $1.66 in the third quarter of 2023.

Third quarter 2024 cash flows provided by operating activities were $262 million, compared to $150 million in the second quarter of 2024 and $172 million in the third quarter of 2023. Adjusted free cash flow* was $184 million, an increase of $88 million sequentially and $47 million year-over-year. Capital expenditures were $78 million in the third quarter of 2024, compared to $62 million in the second quarter of 2024 and $42 million in the third quarter of 2023.

Girish Saligram, President and Chief Executive Officer, commented, “I want to thank the Weatherford team for once again delivering strong margins and adjusted free cash flow despite a volatile macro environment and short cycle activity reductions. The margin performance underscores our ability to deliver strong returns in a softer market environment. Despite continued North America weakness, customer scheduling delays in Latin America and a reduced activity outlook in certain other geographies, we still expect strong revenue growth and adjusted EBITDA margins of greater than 25% for the full year.

In the third quarter, Weatherford acquired Datagration, enhancing our position with one of the industry’s most advanced digital offerings for production and asset optimization. The acquisition demonstrates our commitment to driving innovation across our technology portfolio and accelerating our growth in the digital transformation of the energy industry. Following our announcement in the third quarter regarding Weatherford’s first-ever shareholder return program, we paid our first quarterly dividend of $0.25 per share on September 12, 2024, to shareholders on record as of August 13, 2024, and as of September 30, 2024, we have bought back $50 million of ordinary shares.

While the macroeconomic environment is volatile and there is heightened risk of geopolitical events creating sector challenges, Weatherford remains focused on fulfillment initiatives, acquisition integrations, and technology commercialization, which should drive further financial performance.”

*Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

Operational Highlights

Aramco awarded Weatherford a three-year CPA, including Cementation Products, Completions, Liner Hangers, and Whipstocks, as well as associated service agreements, to enhance its operational efficiency and strategic goals.
A major operator in the Gulf of Mexico awarded Weatherford a three-year services contract to deliver Plug & Abandonment activities utilizing our Heavy Duty Pulling & Jacking Unit and multiple service lines.
A National Oil Company (NOC) in the Middle East awarded Weatherford a three-year contract for Drilling Services in unconventional resources fields.
PTTEP awarded Weatherford a multi-year contract for Wireline services in Thailand.
An NOC in the Middle East awarded Weatherford a two-year contract for Liner Hanger and associated services for deep drilling.
A major operator awarded Weatherford a three-year contract to provide MPD services in the Middle East, marking the first time it will utilize this technology.
An NOC in the Middle East awarded Weatherford a three-year contract for Fishing and Milling services.
An NOC awarded Weatherford a five-year contract extension for the supply of Downhole Completion Equipment for deployment in the Middle East.
Shell awarded Weatherford a three-year contract for Dual Stage Cementing technology to be deployed in onshore Australia.
Kuwait Energy awarded Weatherford a two-year contract for Cased Hole Wireline Services in onshore Iraq.
bp awarded Weatherford a two-year contract for multilateral installations and associated services for offshore operations in Azerbaijan.
JVGAS in Algeria awarded Weatherford a three-year contract for velocity string accessories and associated services and awarded a two-year contract for the supply of Fishing and Casing exiting.

Technology Highlights

Drilling & Evaluation (“DRE”)
- An NOC deployed Weatherford MPD solutions in its first two deep geothermal exploration wells in the Middle East. This innovative use of MPD technology mitigates risks from elevated geothermal gradients during exploration drilling.
- Weatherford celebrates 25 years of Compact Memory Logging technology, with over 10,000 deployments, consistently delivering value and reliability to our customers.
Well Construction and Completions (“WCC”)
- In Norway, Weatherford successfully integrated the Vero™ system into an offshore rig control system, enabling further efficiency while maintaining well integrity. This integration allows existing rig crews to operate the Vero system autonomously.
- Perenco deployed Weatherford’s digital ForeSite^® Sense optical monitoring system to oversee injectivity testing performance for the Poseidon carbon capture and storage project, the UK’s first well to inject CO₂ underground.
- Weatherford launched its new Remote-Opening Barrier Valve that decreases risk and time associated with conventional well barriers.
Production and Intervention (“PRI”)
- The acquisition of Datagration Solutions Inc. added the PetroVisor and EcoVisor platforms to Weatherford’s Digital Solutions portfolio, enhancing the integration of customer data with ForeSite and Cygnet® for improved real-time analysis and decision-making.
- Weatherford deployed its AlphaV system for a major operator in Norway in a complex application that significantly reduced time by eliminating wellbore preparation.

Shareholder Return

During the third quarter of 2024, Weatherford repurchased shares for approximately $50 million and paid dividends of $18 million, resulting in total shareholder returns of $68 million.

On October 17, 2024, our Board declared a cash dividend of $0.25 per share of the Company’s ordinary shares, payable on December 5, 2024, to shareholders of record as of November 6, 2024.

Results by Reportable Segment

Drilling and Evaluation (“DRE”)

	Three Months Ended									Variance
($ in Millions)	September 30, 2024			June 30, 2024			September 30, 2023			Seq.		YoY
Revenue	$	435		$	427		$	388		2	%	12	%
Segment Adjusted EBITDA	$	111		$	130		$	111		(15	)%	—	%
Segment Adj EBITDA Margin		25.5	%		30.4	%		28.6	%	(493	)bps	(309	)bps

Third quarter 2024 DRE revenue of $435 million increased by $8 million, or 2% sequentially, primarily from higher Drilling-related Services activity partly offset by lower MPD asset sales and lower international Wireline activity. Year-over-year DRE revenues increased by $47 million, or 12%, primarily from higher Wireline activity and Drilling-related Services activity in Middle East/North Africa/Asia.

Third quarter 2024 DRE segment adjusted EBITDA of $111 million decreased by $19 million, or 15% sequentially, primarily driven by lower MPD asset sales and lower international Wireline activity partly offset by higher fall-through in Drilling-related Services. Year-over-year DRE segment adjusted EBITDA remained flat as higher Drilling-related services were offset by lower margin fall through in MPD and Wireline.

Well Construction and Completions (“WCC”)

	Three Months Ended									Variance
($ in Millions)	September 30, 2024			June 30, 2024			September 30, 2023			Seq.		YoY
Revenue	$	509		$	504		$	459		1	%	11	%
Segment Adjusted EBITDA	$	151		$	145		$	119		4	%	27	%
Segment Adj EBITDA Margin		29.7	%		28.8	%		25.9	%	90	bps	374	bps

Third quarter 2024 WCC revenue of $509 million increased by $5 million, or 1% sequentially, primarily due to higher international Well Services and Liner Hangers activity partly offset by lower Cementation Products in North America and Middle East/North Africa/Asia. Year-over-year WCC revenues increased by $50 million, or 11%, primarily due to higher international Completions and Liner Hangers activity, partly offset by a decrease in activity in North America.

Third quarter 2024 WCC segment adjusted EBITDA of $151 million increased by $6 million, or 4% sequentially, primarily due to higher international Well Services and Liner Hangers activity and product and service mix partly offset by lower Tubular Running Services activity. Year-over-year WCC segment adjusted EBITDA increased by $32 million, or 27%, primarily due to higher activity and fall-through in Tubular Running Services, Completions and Well Services.

Production and Intervention (“PRI”)

	Three Months Ended									Variance
($ in Millions)	September 30, 2024			June 30, 2024			September 30, 2023			Seq.		YoY
Revenue	$	371		$	369		$	371		1	%	—	%
Segment Adjusted EBITDA	$	83		$	85		$	86		(2	)%	(3	)%
Segment Adj EBITDA Margin		22.4	%		23.0	%		23.2	%	(66	)bps	(81	)bps

Third quarter 2024 PRI revenue of $371 million increased by $2 million, or 1% sequentially, mainly due to increased Digital Solutions and Pressure Pumping activity partly offset by lower Subsea Intervention activity in Latin America. Year-over-year PRI revenue was flat, as higher international Intervention Services & Drilling Tools activity was offset by a decline in Pressure Pumping activity.

Third quarter 2024 PRI segment adjusted EBITDA of $83 million, decreased by $2 million, or 2% sequentially, primarily from lower Artificial Lift product mix and lower Subsea Intervention fall-through. Year-over-year PRI segment adjusted EBITDA decreased by $3 million, or 3% year-over-year, primarily due to lower Pressure Pumping activity.

Revenue by Geography

	Three Months Ended								Variance
*($ in Millions)*	September 30, 2024		June 30, 2024		September 30, 2023		Seq.		YoY
North America	$	266	$	252	$	269	6	%	(1	)%

International	$	1,143	$	1,153	$	1,044	(1	)%	9	%
Latin America		358		353		357	1	%	—	%
Middle East/North Africa/Asia		542		542		471	—	%	15	%
Europe/Sub-Sahara Africa/Russia		243		258		216	(6	)%	13	%
Total Revenue	$	1,409	$	1,405	$	1,313	0.3	%	7	%

North America

Third quarter 2024 North America revenue of $266 million increased by $14 million, or 6% sequentially, primarily due to activity increase in Canada due to favorable seasonality and activity increase offshore in the Gulf of Mexico. Year-over-year, North America decreased by $3 million, or 1%, primarily from lower Tubular Running Services and Cementation Products activity offshore in the Gulf of Mexico, partly offset by an increase in Wireline activity.

International

Third quarter 2024 international revenue of $1,143 million decreased 1% sequentially and increased 9% year-over-year.

Third quarter 2024 Latin America revenue of $358 million increased by $5 million, or 1% sequentially, primarily due to higher Well Services in Brazil and Drilling-related Services in Mexico. Year-over-year, Latin America revenue increased by $1 million.

Third quarter 2024 Middle East/North Africa/Asia revenue of $542 million was flat sequentially, mainly due to increased activity in United Arab Emirates partly offset by a decrease in Integrated Services & Projects activity in Oman and a decrease of activity in Kuwait. Year-over-year, the Middle East/North Africa/Asia revenue increased by $71 million, or 15%, due to an increase in activity across all product lines within the DRE and WCC segments, primarily in United Arab Emirates, Saudi Arabia, Asia and Kuwait.

Third quarter 2024 Europe/Sub-Sahara Africa/Russia revenue of $243 million decreased by $15 million or 6% sequentially, mainly driven by lower MPD asset sales. Year-over-year Europe/Sub-Sahara Africa/Russia revenue increased by $27 million, or 13%, due to increased activity across all segments.

About Weatherford
Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 19,000 team members representing more than 110 nationalities and 330 operating locations. Visit weatherford.com for more information and connect with us on social media.

Conference Call Details

Weatherford will host a conference call on Wednesday, October 23, 2024, to discuss the Company’s results for the third quarter ended September 30, 2024. The conference call will begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time).

Listeners are encouraged to download the accompanying presentation slides which will be available in the investor relations section of the Company’s website.

Listeners can participate in the conference call via a live webcast at https://www.weatherford.com/investor-relations/investor-news-and-events/events/ or by dialing +1 877-328-5344 (within the U.S.) or +1 412-902-6762 (outside of the U.S.) and asking for the Weatherford conference call. Participants should log in or dial in approximately 10 minutes prior to the start of the call.

A telephonic replay of the conference call will be available until November 6, 2024, at 5:00 p.m. Eastern Time. To access the replay, please dial +1 877-344-7529 (within the U.S.) or +1 412-317-0088 (outside of the U.S.) and reference conference number 6410466. A replay and transcript of the earnings call will also be available in the investor relations section of the Company’s website.

Contacts

For Investors:
Luke Lemoine
Senior Vice President, Corporate Development and Investor Relations
+1 713-836-7777
investor.relations@weatherford.com

For Media:
Kelley Hughes
Senior Director, Communications & Employee Engagement
+1 713-836-4193
media@weatherford.com

Forward-Looking Statements

This news release contains projections and forward-looking statements concerning, among other things, the Company’s quarterly and full-year revenues, adjusted EBITDA*, adjusted EBITDA margin*, adjusted free cash flow*, net leverage*, shareholder return program, forecasts or expectations regarding business outlook, prospects for its operations, capital expenditures, expectations regarding future financial results, and are also generally identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “outlook,” “budget,” “intend,” “strategy,” “plan,” “guidance,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, although not all forward-looking statements contain these identifying words. Such statements are based upon the current beliefs of Weatherford’s management and are subject to significant risks, assumptions, and uncertainties. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. Readers are cautioned that forward-looking statements are only predictions and may differ materially from actual future events or results, based on factors including but not limited to: global political disturbances, war, terrorist attacks, changes in global trade policies, weak local economic conditions and international currency fluctuations; general global economic repercussions related to U.S. and global inflationary pressures and potential recessionary concerns; various effects from conflicts in the Middle East and the Russia Ukraine conflict, including, but not limited to, nationalization of assets, extended business interruptions, sanctions, treaties and regulations imposed by various countries, associated operational and logistical challenges, and impacts to the overall global energy supply; cybersecurity issues; our ability to comply with, and respond to, climate change, environmental, social and governance and other sustainability initiatives and future legislative and regulatory measures both globally and in specific geographic regions; the potential for a resurgence of a pandemic in a given geographic area and related disruptions to our business, employees, customers, suppliers and other partners; the price and price volatility of, and demand for, oil and natural gas; the macroeconomic outlook for the oil and gas industry; our ability to generate cash flow from operations to fund our operations; our ability to effectively and timely adapt our technology portfolio, products and services to address and participate in changes to the market demands for the transition to alternate sources of energy such as geothermal, carbon capture and responsible abandonment, including our digitalization efforts; our ability to return capital to shareholders, including those related to the timing and amounts (including any plans or commitments in respect thereof) of any dividends and share repurchases; and the realization of additional cost savings and operational efficiencies.

These risks and uncertainties are more fully described in Weatherford’s reports and registration statements filed with the Securities and Exchange Commission (the “SEC”), including the risk factors described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Accordingly, you should not place undue reliance on any of the Company’s forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law, and we caution you not to rely on them unduly.

*Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled


Weatherford International plc
Selected Statements of Operations (Unaudited)

	Three Months Ended									Nine Months Ended
*($ in Millions, Except Per Share Amounts)*	September 30, 2024			June 30, 2024			September 30, 2023			September 30, 2024				September 30, 2023
Revenues:
DRE Revenues	$	435		$	427		$	388		$	1,284			$	1,154
WCC Revenues		509			504			459			1,471				1,320
PRI Revenues		371			369			371			1,088				1,086
All Other		94			105			95			329				213
Total Revenues		1,409			1,405			1,313			4,172				3,773

Operating Income:
DRE Segment Adjusted EBITDA^[1]	$	111		$	130		$	111		$	371			$	325
WCC Segment Adjusted EBITDA^[1]		151			145			119			416				324
PRI Segment Adjusted EBITDA^[1]		83			85			86			241				235
All Other^[2]		23			23			7			73				25
Corporate^[2]		(13	)		(18	)		(18	)		(45	)			(44	)
Depreciation and Amortization		(89	)		(86	)		(83	)		(260	)			(244	)
Share-based Compensation		(10	)		(12	)		(9	)		(35	)			(26	)
Other (Charges) Credits		(13	)		(3	)		5			(21	)			9
Operating Income		243			264			218			740				604

Other Expense:
Interest Expense, Net of Interest Income of $13, $17, $15, $44 and $47		(24	)		(24	)		(30	)		(77	)			(92	)
Loss on Blue Chip Swap Securities		—			(10	)		—			(10	)			(57	)
Other Expense, Net		(41	)		(20	)		(24	)		(83	)	—		(98	)
Income Before Income Taxes		178			210			164			570				357
Income Tax Provision		(12	)		(73	)		(33	)		(144	)			(55	)
Net Income		166			137			131			426				302
Net Income Attributable to Noncontrolling Interests		9			12			8			32				25
Net Income Attributable to Weatherford	$	157		$	125		$	123		$	394			$	277

Basic Income Per Share	$	2.14		$	1.71		$	1.70		$	5.39			$	3.85
Basic Weighted Average Shares Outstanding		73.2			73.2			72.1			73.1				71.9

Diluted Income Per Share^[3]	$	2.06		$	1.66		$	1.66		$	5.25			$	3.76
Diluted Weighted Average Shares Outstanding		75.2			75.3			73.7			75.0				73.6

^[1]	Segment adjusted EBITDA is our primary measure of segment profitability under U.S. GAAP ASC 280 “Segment Reporting” and represents segment earnings before interest, taxes, depreciation, amortization, share-based compensation expense and other adjustments. Research and development expenses are included in segment adjusted EBITDA.
^[2]	All Other results were from non-core business activities related to all other segments (profit and loss) and Corporate includes overhead support and centrally managed or shared facility costs. All Other and Corporate do not individually meet the criteria for segment reporting.
^[3]	Included the maximum potentially dilutive shares contingently issuable for an acquisition consideration during the three months ended September 30, 2024, the value of which was adjusted out of Net Income Attributable to Weatherford in calculating diluted income per share.


Weatherford International plc
Selected Balance Sheet Data (Unaudited)

*($ in Millions)*	September 30, 2024		December 31, 2023
Assets:
Cash and Cash Equivalents	$	920	$	958
Restricted Cash		58		105
Accounts Receivable, Net		1,231		1,216
Inventories, Net		919		788
Property, Plant and Equipment, Net		1,050		957
Intangibles, Net		356		370

Liabilities:
Accounts Payable		723		679
Accrued Salaries and Benefits		328		387
Current Portion of Long-term Debt		21		168
Long-term Debt		1,627		1,715

Shareholders’ Equity:
Total Shareholders’ Equity		1,356		922

Weatherford International plc
Selected Cash Flows Information (Unaudited)

	Three Months Ended										Nine Months Ended
*($ in Millions)*		September 30, 2024			June 30, 2024			September 30, 2023			September 30, 2024			September 30, 2023
Cash Flows From Operating Activities:
Net Income		$	166		$	137		$	131		$	426		$	302
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities:
Depreciation and Amortization		89			86			83			260			244
Foreign Exchange Losses		35			8			15			58			73
Loss on Blue Chip Swap Securities		—			10			—			10			57
Gain on Disposition of Assets		(1		)	(25		)	(4		)	(33		)	(11		)
Deferred Income Tax Provision (Benefit)		(19		)	13			(14		)	8			(67		)
Share-Based Compensation		10			12			9			35			26
Changes in Accounts Receivable, Inventory, Accounts Payable and Accrued Salaries and Benefits		30			(22		)	(73		)	(144		)	(235		)
Other Changes, Net		(48		)	(69		)	25			(77		)	68
Net Cash Provided By Operating Activities		262			150			172			543			457

Cash Flows From Investing Activities:
Capital Expenditures for Property, Plant and Equipment		(78		)	(62		)	(42		)	(199		)	(142		)
Proceeds from Disposition of Assets		—			8			7			18			21
Purchases of Blue Chip Swap Securities		—			(50		)	—			(50		)	(110		)
Proceeds from Sales of Blue Chip Swap Securities		—			40			—			40			53
Business Acquisitions, Net of Cash Acquired		(15		)	—			—			(51		)	(4		)
Proceeds from Sale of Investments		—			—			—			41			33
Other Investing Activities		1			3			(1		)	(6		)	(9		)
Net Cash Used In Investing Activities		(92		)	(61		)	(36		)	(207		)	(158		)

Cash Flows From Financing Activities:
Repayments of Long-term Debt		(5		)	(87		)	(76		)	(264		)	(306		)
Distributions to Noncontrolling Interests		(10		)	(9		)	(15		)	(19		)	(21		)
Tax Remittance on Equity Awards Vested		—			(1		)	—			(9		)	(54		)
Share Repurchases		(50		)	—			—			(50		)	—
Dividends Paid		(18		)	—			—			(18		)	—
Other Financing Activities		(6		)	(5		)	—			(18		)	(7		)
Net Cash Used In Financing Activities		$	(89	)	$	(102	)	$	(91	)	$	(378	)	$	(388	)

Weatherford International plc

Non-GAAP Financial Measures Defined (Unaudited)

We report our financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, Weatherford’s management believes that certain non-GAAP financial measures (as defined under the SEC’s Regulation G and Item 10(e) of Regulation S-K) may provide users of this financial information additional meaningful comparisons between current results and results of prior periods and comparisons with peer companies. The non-GAAP amounts shown in the following tables should not be considered as substitutes for results reported in accordance with GAAP but should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

Adjusted EBITDA* – Adjusted EBITDA* is a non-GAAP measure and represents consolidated income before interest expense, net, income taxes, depreciation and amortization expense, and excludes, among other items, restructuring charges, share-based compensation expense, as well as other charges and credits. Management believes adjusted EBITDA* is useful to assess and understand normalized operating performance and trends. Adjusted EBITDA* should be considered in addition to, but not as a substitute for consolidated net income and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

Adjusted EBITDA margin* – Adjusted EBITDA margin* is a non-GAAP measure which is calculated by dividing consolidated adjusted EBITDA* by consolidated revenues. Management believes adjusted EBITDA margin* is useful to assess and understand normalized operating performance and trends. Adjusted EBITDA margin* should be considered in addition to, but not as a substitute for consolidated net income margin and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

Adjusted Free Cash Flow* – Adjusted Free Cash Flow* is a non-GAAP measure and represents cash flows provided by (used in) operating activities, less capital expenditures plus proceeds from the disposition of assets. Management believes adjusted free cash flow* is useful to understand our performance at generating cash and demonstrates our discipline around the use of cash. Adjusted free cash flow* should be considered in addition to, but not as a substitute for cash flows provided by operating activities and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

Net Debt* – Net Debt* is a non-GAAP measure that is calculated taking short and long-term debt less cash and cash equivalents and restricted cash. Management believes the net debt* is useful to assess the level of debt in excess of cash and cash and equivalents as we monitor our ability to repay and service our debt. Net debt* should be considered in addition to, but not as a substitute for overall debt and total cash and should be viewed in addition to the Company’s results prepared in accordance with GAAP.

Net Leverage* – Net Leverage* is a non-GAAP measure which is calculated by dividing by taking net debt* divided by adjusted EBITDA* for the trailing 12 months. Management believes the net leverage* is useful to understand our ability to repay and service our debt. Net leverage* should be considered in addition to, but not as a substitute for the individual components of above defined net debt* divided by consolidated net income attributable to Weatherford and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

*Non-GAAP – as defined above and reconciled to the GAAP measures in the section titled GAAP to Non-GAAP Financial Measures Reconciled


Weatherford International plc
GAAP to Non-GAAP Financial Measures Reconciled (Unaudited)


	Three Months Ended									Nine Months Ended
*($ in Millions, Except Margin in Percentages)*	September 30, 2024			June 30, 2024			September 30, 2023			September 30, 2024			September 30, 2023
Revenues	$	1,409		$	1,405		$	1,313		$	4,172		$	3,773
Net Income Attributable to Weatherford	$	157		$	125		$	123		$	394		$	277
Net Income Margin		11.1	%		8.9	%		9.4	%		9.4	%		7.3	%
Adjusted EBITDA*	$	355		$	365		$	305		$	1,056		$	865
Adjusted EBITDA Margin*		25.2	%		26.0	%		23.2	%		25.3	%		22.9	%

Net Income Attributable to Weatherford	$	157		$	125		$	123		$	394		$	277
Net Income Attributable to Noncontrolling Interests		9			12			8			32			25
Income Tax Provision		12			73			33			144			55
Interest Expense, Net of Interest Income of $13, $17, $15, $44 and $47		24			24			30			77			92
Loss on Blue Chip Swap Securities		—			10			—			10			57
Other Expense, Net		41			20			24			83			98
Operating Income		243			264			218			740			604
Depreciation and Amortization		89			86			83			260			244
Other Charges (Credits)^[1]		13			3			(5	)		21			(9	)
Share-Based Compensation		10			12			9			35			26
Adjusted EBITDA*	$	355		$	365		$	305		$	1,056		$	865

Net Cash Provided By Operating Activities	$	262		$	150		$	172		$	543		$	457
Capital Expenditures for Property, Plant and Equipment		(78	)		(62	)		(42	)		(199	)		(142	)
Proceeds from Disposition of Assets		—			8			7			18			21
Adjusted Free Cash Flow*	$	184		$	96		$	137		$	362		$	336

^[1]	Other charges (credits) in the three and nine months ended September 30, 2024, primarily includes fees to third-party financial institutions to facilitate loans between those financial institutions and our largest customer in Mexico, who in turn paid certain of our outstanding receivables.

*Non-GAAP – as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined


Weatherford International plc
GAAP to Non-GAAP Financial Measures Reconciled Continued (Unaudited)



*($ in Millions)*	September 30, 2024			June 30, 2024			September 30, 2023
Current Portion of Long-term Debt	$	21		$	20		$	91
Long-term Debt		1,627			1,628			1,864
Total Debt	$	1,648		$	1,648		$	1,955

Cash and Cash Equivalents	$	920		$	862		$	839
Restricted Cash		58			58			107
Total Cash	$	978		$	920		$	946

Components of Net Debt
Current Portion of Long-term Debt	$	21		$	20		$	91
Long-term Debt		1,627			1,628			1,864
Less: Cash and Cash Equivalents		920			862			839
Less: Restricted Cash		58			58			107
Net Debt*	$	670		$	728		$	1,009

Net Income for trailing 12 months	$	534		$	500		$	359
*Adjusted EBITDA for trailing 12 months**	$	1,377		$	1,327		$	1,131

*Net Leverage (Net Debt/Adjusted EBITDA)**		0.5	x		0.5	x		0.9	x

*Non-GAAP – as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined

The MIL Network –

January 24, 2025

MIL-OSI: Baker Hughes Company Announces Third-Quarter 2024 Results

Source: GlobeNewswire (MIL-OSI)

Third-quarter highlights

Orders of $6.7 billion, including $2.9 billion of IET orders.
RPO of $33.4 billion, including record IET RPO of $30.2 billion.
Revenue of $6.9 billion, up 4% year-over-year.
Attributable net income of $766 million.
GAAP diluted EPS of $0.77 and adjusted diluted EPS* of $0.67.
Adjusted EBITDA* of $1,208 million, up 23% year-over-year.
Cash flows from operating activities of $1,010 million and free cash flow* of $754 million.
Returns to shareholders of $361 million, including $152 million of share repurchases.

HOUSTON and LONDON, Oct. 22, 2024 (GLOBE NEWSWIRE) — Baker Hughes Company (Nasdaq: BKR) (“Baker Hughes” or the “Company”) announced results today for the third quarter of 2024.

“We delivered another quarter of record EBITDA, highlighted by exceptional operational performance across both segments. Our margins continue to improve at an accelerated pace, with total company EBITDA margins increasing to 17.5%. This marks the highest margin quarter since the company was formed. On the back of our solid third-quarter results and stable outlook, we remain confident in achieving our full-year EBITDA guidance midpoint,” said Lorenzo Simonelli, Baker Hughes Chairman and Chief Executive Officer.

“Orders remain at solid levels, with IET orders of $2.9 billion marking the eighth consecutive quarter at or above these levels. IET continued to demonstrate strong order momentum for gas infrastructure and FPSOs, booking the largest ever ICL compressor award from Dubai Petroleum Establishment for the Margham Gas storage facility and two FPSO awards with separate offshore operators.”

“Overall, our segments continue to make strong progress on their journey toward 20% EBITDA margins, with both segments achieving high-teen margins during the quarter. Our operational discipline and rigor continue to gain traction.”

“We are also benefiting from the life-cycle attributes of our service offerings and the breadth of our portfolio. With significant recurring IET service revenue, strong production-levered businesses, untapped market opportunities, and improved cost structure, we are becoming less cyclical and capable of generating more durable earnings and free cash flow across cycles.”

“We are successfully executing our strategy, and this is a testament to the strength of our people and the culture we are building,” concluded Simonelli.

* Non-GAAP measure. See reconciliations in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.”

	Three Months Ended						Variance
(in millions except per share amounts)	September 30, 2024		June 30, 2024		September 30, 2023		Sequential	Year-over-year
Orders	$	6,676	$	7,526	$	8,512	(11%)	(22%)
Revenue		6,908		7,139		6,641	(3%)	4%
Net income attributable to Baker Hughes		766		579		518	32%	48%
Adjusted net income attributable to Baker Hughes*		666		568		427	17%	56%
Operating income		930		833		714	12%	30%
Adjusted operating income*		930		847		716	10%	30%
Adjusted EBITDA*		1,208		1,130		983	7%	23%
Diluted earnings per share (EPS)		0.77		0.58		0.51	33%	51%
Adjusted diluted EPS*		0.67		0.57		0.42	18%	59%
Cash flow from operating activities		1,010		348		811	F	25%
Free cash flow*		754		106		592	F	27%

* Non-GAAP measure. See reconciliations in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.”

“F” is used when variance is above 100%. Additionally, “U” is used when variance is below (100)%.

Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers.

Quarter Highlights

Industrial & Energy Technology (“IET”) experienced a strong quarter for its Integrated Compressor Line (“ICL”) technology. In its largest ICL award to-date, and booked under Climate Technology Solutions (“CTS”), Baker Hughes will supply 10 units to Dubai Petroleum Establishment for the Margham Gas storage facility. These ICL units will support gas infrastructure, providing stability to Dubai’s energy supply by strengthening the system’s ability to switch between natural gas and solar power.

IET’s Gas Technology Equipment (“GTE”) was also awarded a significant contract to supply advanced compression solutions to Saipem for TotalEnergies’ all-electric Kaminho Floating Production Storage and Offloading (“FPSO”) project in Angola. Baker Hughes’ centrifugal BCL compressor and ICL technology were selected because of the capability to minimize greenhouse emissions and eliminate routine flaring by reinjecting associated gas into the reservoir for storage. Separately, IET was selected to provide electric motor-driven process compressors for an FPSO project in Latin America.

IET’s Gas Technology Services (“GTS”) secured a multi-decade agreement for an LNG facility in the Middle East. The scope encompasses extensive maintenance services and digital solutions, leveraging Baker Hughes’ iCenter™ Remote Monitoring and Diagnostics capabilities.

Oilfield Services & Equipment (“OFSE”) strengthened the Company’s relationship with Petrobras, receiving contracts to supply 43 miles of flexible pipe systems in Brazil’s Santos Basin. A significant portion of these risers and flowlines will be manufactured in-country at Baker Hughes’ Niteroi plant. The contracts, awarded through an open tender, include multi-year service agreements to support maintenance activities through the life of the project and demonstrate Baker Hughes’ dedication to providing equipment and services critical to help Petrobras achieve its strategic plan to expand operations.

In OFSE, mature assets solutions (“MAS”) delivered a strong order quarter, illustrating confidence in the Company’s full range of workflows and solutions to accelerate production and total recovery. OFSE won a MAS award to supply Santos Energy’s strategic and historic Cooper Basin Development in Australia with drilling fluids and wireline services, marking Baker Hughes’ return to the basin. Additionally, OFSE signed a multi-year contract extension with a customer in the Middle East for completions and well intervention.

Baker Hughes saw increased adoption of Leucipa™, the Company’s intelligent automated field production digital solution. A major global operator expanded the use of Leucipa across multiple fields in the Permian Basin, enabling the customer to optimize production through real-time field orchestration to generate lower-carbon, short-cycle barrels. Additionally, a new strategic collaboration was established early in the fourth quarter with Repsol, a major customer of Leucipa, to develop and deploy next-generation artificial intelligence capabilities for this digital solution. The companies will share knowledge and expertise to optimize and enhance production across Repsol’s global portfolio while creating new commercial opportunities for Baker Hughes.

Baker Hughes continues to innovate new digital technologies to support customers on their decarbonization journey. The Company launched CarbonEdge™, powered by Cordant™, an end-to-end, risk-based digital solution that delivers precise, real-time data and alerts on carbon dioxide (CO₂) flows across CCUS infrastructure from subsurface to surface. This solution enables operators to mitigate risk, improve decision-making, enhance operational efficiency, and simplify regulatory reporting across the entire project lifecycle.

Consolidated Revenue and Operating Income by Reporting Segment

(in millions)	Three Months Ended									Variance
	September 30, 2024			June 30, 2024			September 30, 2023			Sequential	Year-over-year
Oilfield Services & Equipment	$	3,963		$	4,011		$	3,951		(1%)	—%
Industrial & Energy Technology		2,945			3,128			2,691		(6%)	9%
Segment revenue		6,908			7,139			6,641		(3%)	4%

Oilfield Services & Equipment		547			493			465		11%	18%
Industrial & Energy Technology		474			442			346		7%	37%
Corporate⁽¹⁾		(91	)		(88	)		(95	)	(3%)	4%
Restructuring, impairment & other		—			(14	)		(2	)	F	F
Operating income		930			833			714		12%	30%
Adjusted operating income*		930			847			716		10%	30%
Depreciation & amortization		278			283			267		(2%)	4%
Adjusted EBITDA*	$	1,208		$	1,130		$	983		7%	23%

* Non-GAAP measure. See reconciliations in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.”

“F” is used when variance is above 100%. Additionally, “U” is used when variance is below (100)%.

⁽¹⁾Corporate costs are primarily reported in “Selling, general and administrative” in the condensed consolidated statements of income (loss).

Revenue for the quarter was $6,908 million, a decrease of 3% sequentially and an increase of 4% year-over-year. The increase in revenue year-over-year was driven by IET.

The Company’s total book-to-bill ratio in the quarter was 1.0; the IET book-to-bill ratio in the quarter was also 1.0.

Operating income as determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”), for the third quarter of 2024 was $930 million. Operating income increased $97 million sequentially and increased $216 million year-over-year.

Adjusted operating income (a non-GAAP financial measure) for the third quarter of 2024 was $930 million. There were no adjustments to operating income in the third quarter. A list of the adjusting items and associated reconciliation from GAAP has been provided in Table 1a in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.” Adjusted operating income for the third quarter of 2024 was up 10% sequentially and up 30% year-over-year.

Depreciation and amortization for the third quarter of 2024 was $278 million.

Adjusted EBITDA (a non-GAAP financial measure) for the third quarter of 2024 was $1,208 million. There were no adjustments to EBITDA in the third quarter. See Table 1b in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.” Adjusted EBITDA for the third quarter was up 7% sequentially and up 23% year-over-year.

The sequential increase in adjusted operating income and adjusted EBITDA was driven by higher pricing in both segments and structural cost-out initiatives, partially offset by lower volume in both segments. The year-over-year increase in adjusted operating income and adjusted EBITDA was driven by higher pricing in both segments, higher volume in IET, and structural cost-out initiatives, partially offset by cost inflation in IET and unfavorable business mix in both segments.

Other Financial Items

Remaining Performance Obligations (“RPO”) in the third quarter ended at $33.4 billion, a decrease of $0.1 billion from the second quarter of 2024. OFSE RPO was $3.2 billion, down 5% sequentially, while IET RPO was $30.2 billion, up $44 million sequentially. Within IET RPO, GTE RPO was $11.9 billion and GTS RPO was $14.8 billion.

Income tax expense in the third quarter of 2024 was $235 million.

Other non-operating income in the third quarter of 2024 was $134 million. Included in other non-operating income were net mark-to-market gains in fair value for certain equity investments of $99 million.

GAAP diluted earnings per share was $0.77. Adjusted diluted earnings per share (a non-GAAP financial measure) was $0.67. Excluded from adjusted diluted earnings per share were all items listed in Table 1c in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.”

Cash flow from operating activities was $1,010 million for the third quarter of 2024. Free cash flow (a non-GAAP financial measure) for the quarter was $754 million. A reconciliation from GAAP has been provided in Table 1d in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.”

Capital expenditures, net of proceeds from disposal of assets, were $256 million for the third quarter of 2024, of which $182 million for OFSE and $62 million for IET.

Results by Reporting Segment

The following segment discussions and variance explanations are intended to reflect management’s view of the relevant comparisons of financial results on a sequential or year-over-year basis, depending on the business dynamics of the reporting segments.

Oilfield Services & Equipment

(in millions)	Three Months Ended									Variance
Segment results	September 30, 2024			June 30, 2024			September 30, 2023			Sequential	Year-over-year
Orders	$	3,807		$	4,068		$	4,178		(6%)	(9%)
Revenue	$	3,963		$	4,011		$	3,951		(1%)	—%
Operating income	$	547		$	493		$	465		11%	18%
Operating margin		13.8	%		12.3	%		11.8	%	1.5pts	2pts
Depreciation & amortization	$	218		$	223		$	206		(2%)	6%
EBITDA*	$	765		$	716		$	670		7%	14%
EBITDA margin*		19.3	%		17.8	%		17.0	%	1.5pts	2.3pts

(in millions)	Three Months Ended						Variance
Revenue by Product Line	September 30, 2024		June 30, 2024		September 30, 2023		Sequential	Year-over-year
Well Construction	$	1,050	$	1,090	$	1,128	(4%)	(7%)
Completions, Intervention & Measurements		1,009		1,118		1,085	(10%)	(7%)
Production Solutions		983		958		967	3%	2%
Subsea & Surface Pressure Systems		921		845		770	9%	20%
Total Revenue	$	3,963	$	4,011	$	3,951	(1%)	—%

(in millions)	Three Months Ended						Variance
Revenue by Geographic Region	September 30, 2024		June 30, 2024		September 30, 2023		Sequential	Year-over-year
North America	$	971	$	1,023	$	1,064	(5%)	(9%)
Latin America		648		663		695	(2%)	(7%)
Europe/CIS/Sub-Saharan Africa		933		827		695	13%	34%
Middle East/Asia		1,411		1,498		1,497	(6%)	(6%)
Total Revenue	$	3,963	$	4,011	$	3,951	(1%)	—%

North America	$	971	$	1,023	$	1,064	(5%)	(9%)
International		2,992		2,988		2,887	—%	4%

* Non-GAAP measure. See reconciliations in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.” EBITDA margin is defined as EBITDA divided by revenue.

OFSE orders of $3,807 million for the third quarter decreased by $261 million sequentially. Subsea and Surface Pressure Systems orders were $776 million, down 13% sequentially, and down 23% year-over-year.

OFSE revenue of $3,963 million for the third quarter was down 1% sequentially, and up $12 million year-over-year.

North America revenue was $971 million, down 5% sequentially. International revenue was $2,992 million, an increase of $4 million sequentially, driven by growth in Europe/CIS/Sub-Saharan Africa regions partially offset by decline in Middle East/Asia.

Segment operating income for the third quarter was $547 million, an increase of $54 million, or 11%, sequentially. Segment EBITDA for the third quarter was $765 million, an increase of $49 million, or 7% sequentially. The sequential increase in segment operating income and EBITDA was driven by positive price and productivity, partially offset by pressure from negative business mix and lower volume.

Industrial & Energy Technology

(in millions)	Three Months Ended									Variance
Segment results	September 30, 2024			June 30, 2024			September 30, 2023			Sequential	Year-over-year
Orders	$	2,868		$	3,458		$	4,334		(17%)	(34%)
Revenue	$	2,945		$	3,128		$	2,691		(6%)	9%
Operating income	$	474		$	442		$	346		7%	37%
Operating margin		16.1	%		14.1	%		12.9	%	2pts	3.2pts
Depreciation & amortization	$	54		$	55		$	57		(2%)	(6%)
EBITDA*	$	528		$	497		$	403		6%	31%
EBITDA margin*		17.9	%		15.9	%		15.0	%	2pts	2.9pts

(in millions)	Three Months Ended						Variance
Orders by Product Line	September 30, 2024		June 30, 2024		September 30, 2023		Sequential	Year-over-year
Gas Technology Equipment	$	1,088	$	1,493	$	2,813	(27%)	(61%)
Gas Technology Services		778		769		724	1%	7%
Total Gas Technology		1,866		2,261		3,537	(17%)	(47%)
Industrial Products		494		524		477	(6%)	4%
Industrial Solutions		293		281		271	4%	8%
Total Industrial Technology		787		805		748	(2%)	5%
Climate Technology Solutions		215		392		49	(45%)	F
Total Orders	$	2,868	$	3,458	$	4,334	(17%)	(34%)

(in millions)	Three Months Ended						Variance
Revenue by Product Line	September 30, 2024		June 30, 2024		September 30, 2023		Sequential	Year-over-year
Gas Technology Equipment	$	1,281	$	1,539	$	1,227	(17%)	4%
Gas Technology Services		697		691		637	1%	9%
Total Gas Technology		1,978		2,230		1,865	(11%)	6%
Industrial Products		520		509		520	2%	—%
Industrial Solutions		257		262		243	(2%)	6%
Total Industrial Technology		777		770		763	1%	2%
Climate Technology Solutions		191		128		63	49%	F
Total Revenue	$	2,945	$	3,128	$	2,691	(6%)	9%

* Non-GAAP measure. See reconciliations in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.” EBITDA margin is defined as EBITDA divided by revenue.

“F” is used when variance is above 100%. Additionally, “U” is used when variance is below (100)%.

IET orders of $2,868 million for the third quarter decreased by $1,465 million, or 34% year-over-year. The decrease was driven primarily by GTE orders which were down $1,725 million or 61% year-over-year.

IET revenue of $2,945 million for the quarter increased $254 million, or 9% year-over-year. The increase was driven primarily by Climate Technology Solutions, up favorably year-over-year, and by Gas Technology, up 6% year-over-year.

Segment operating income for the quarter was $474 million, up 37% year-over-year. Segment EBITDA for the quarter was $528 million, up $125 million, or 31% year-over-year. The year-over-year increase in segment operating income and EBITDA was primarily driven by higher volume, pricing and productivity, partially offset by cost inflation.

Reconciliation of GAAP to non-GAAP Financial Measures

Management provides non-GAAP financial measures because it believes such measures are widely accepted financial indicators used by investors and analysts to analyze and compare companies on the basis of operating performance (including adjusted operating income; EBITDA; EBITDA margin; adjusted EBITDA; adjusted net income attributable to Baker Hughes; and adjusted diluted earnings per share) and liquidity (free cash flow) and that these measures may be used by investors to make informed investment decisions. Management believes that the exclusion of certain identified items from several key operating performance measures enables us to evaluate our operations more effectively, to identify underlying trends in the business, and to establish operational goals for certain management compensation purposes. Management also believes that free cash flow is an important supplemental measure of our cash performance but should not be considered as a measure of residual cash flow available for discretionary purposes, or as an alternative to cash flow from operating activities presented in accordance with GAAP.

Table 1a. Reconciliation of GAAP and Adjusted Operating Income

	Three Months Ended
(in millions)	September 30, 2024		June 30, 2024		September 30, 2023
Operating income (GAAP)	$	930	$	833	$	714
Restructuring, impairment & other		—		14		2
Total operating income adjustments		—		14		2
Adjusted operating income (non-GAAP)	$	930	$	847	$	716

Table 1a reconciles operating income, which is the directly comparable financial result determined in accordance with GAAP, to adjusted operating income. Adjusted operating income excludes the impact of certain identified items.

Table 1b. Reconciliation of Net Income Attributable to Baker Hughes to EBITDA and Adjusted EBITDA

	Three Months Ended
(in millions)	September 30, 2024			June 30, 2024			September 30, 2023
Net income attributable to Baker Hughes (GAAP)	$	766		$	579		$	518
Net income attributable to noncontrolling interests		8			2			6
Provision for income taxes		235			243			235
Interest expense, net		55			47			49
Other non-operating income, net		(134	)		(38	)		(94	)
Operating income (GAAP)		930			833			714

Depreciation & amortization		278			283			267
EBITDA (non-GAAP)		1,208			1,116			981
Total operating income adjustments⁽¹⁾		—			14			2
Adjusted EBITDA (non-GAAP)	$	1,208		$	1,130		$	983

⁽¹⁾See Table 1a for the identified adjustments to operating income.

Table 1b reconciles net income attributable to Baker Hughes, which is the directly comparable financial result determined in accordance with GAAP, to EBITDA. Adjusted EBITDA excludes the impact of certain identified items.

Table 1c. Reconciliation of Net Income Attributable to Baker Hughes to Adjusted Net Income Attributable to Baker Hughes

	Three Months Ended
(in millions, except per share amounts)	September 30, 2024			June 30, 2024			September 30, 2023
Net income attributable to Baker Hughes (GAAP)	$	766		$	579		$	518
Total operating income adjustments⁽¹⁾		—			14			2
Other adjustments (non-operating)⁽²⁾		(99	)		(19	)		(95	)
Tax adjustments⁽³⁾		(1	)		(6	)		2
Total adjustments, net of income tax		(100	)		(11	)		(91	)
Less: adjustments attributable to noncontrolling interests		—			—			—
Adjustments attributable to Baker Hughes		(100	)		(11	)		(91	)
Adjusted net income attributable to Baker Hughes (non-GAAP)	$	666		$	568		$	427


Denominator:
Weighted-average shares of Class A common stock outstanding diluted		999			1,001			1,017
Adjusted earnings per share – diluted (non-GAAP)	$	0.67		$	0.57		$	0.42

⁽¹⁾See Table 1a for the identified adjustments to operating income.

⁽²⁾All periods primarily reflect the net gain or loss on changes in fair value for certain equity investments.

⁽³⁾All periods reflect the tax associated with the other operating and non-operating adjustments.

Table 1c reconciles net income attributable to Baker Hughes, which is the directly comparable financial result determined in accordance with GAAP, to adjusted net income attributable to Baker Hughes. Adjusted net income attributable to Baker Hughes excludes the impact of certain identified items.

Table 1d. Reconciliation of Net Cash Flows From Operating Activities to Free Cash Flow

	Three Months Ended
(in millions)	September 30, 2024			June 30, 2024			September 30, 2023
Net cash flows from operating activities (GAAP)	$	1,010		$	348		$	811
Add: cash used for capital expenditures, net of proceeds from disposal of assets		(256	)		(242	)		(219	)
Free cash flow (non-GAAP)	$	754		$	106		$	592

Table 1d reconciles net cash flows from operating activities, which is the directly comparable financial result determined in accordance with GAAP, to free cash flow. Free cash flow is defined as net cash flows from operating activities less expenditures for capital assets plus proceeds from disposal of assets.

Financial Tables (GAAP)

Condensed Consolidated Statements of Income (Loss)

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions, except per share amounts)		2024			2023			2024			2023
Revenue	$	6,908		$	6,641		$	20,465		$	18,671
Costs and expenses:
Cost of revenue		5,366			5,298			16,155			14,867
Selling, general and administrative		612			627			1,873			1,977
Restructuring, impairment and other		—			2			21			161
Total costs and expenses		5,978			5,927			18,049			17,005
Operating income		930			714			2,416			1,666
Other non-operating income, net		134			94			200			638
Interest expense, net		(55	)		(49	)		(143	)		(171	)
Income before income taxes		1,009			759			2,473			2,133
Provision for income taxes		(235	)		(235	)		(656	)		(614	)
Net income		774			524			1,817			1,519
Less: Net income attributable to noncontrolling interests		8			6			17			16
Net income attributable to Baker Hughes Company	$	766		$	518		$	1,800		$	1,503

Per share amounts:
Basic income per Class A common stock	$	0.77		$	0.51		$	1.81		$	1.49
Diluted income per Class A common stock	$	0.77		$	0.51		$	1.80		$	1.48

Weighted average shares:
Class A basic		993			1,009			996			1,010
Class A diluted		999			1,017			1,001			1,016

Cash dividend per Class A common stock	$	0.21		$	0.20		$	0.63		$	0.58

Condensed Consolidated Statements of Financial Position

(Unaudited)

(In millions)	September 30, 2024		December 31, 2023
ASSETS
Current Assets:
Cash and cash equivalents	$	2,664	$	2,646
Current receivables, net		6,920		7,075
Inventories, net		5,254		5,094
All other current assets		1,730		1,486
Total current assets		16,568		16,301
Property, plant and equipment, less accumulated depreciation		5,150		4,893
Goodwill		6,167		6,137
Other intangible assets, net		3,995		4,093
Contract and other deferred assets		1,904		1,756
All other assets		3,746		3,765
Total assets	$	37,530	$	36,945
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable	$	4,431	$	4,471
Short-term and current portion of long-term debt		52		148
Progress collections and deferred income		5,685		5,542
All other current liabilities		2,622		2,830
Total current liabilities		12,790		12,991
Long-term debt		5,984		5,872
Liabilities for pensions and other postretirement benefits		991		978
All other liabilities		1,422		1,585
Equity		16,343		15,519
Total liabilities and equity	$	37,530	$	36,945

Outstanding Baker Hughes Company shares:
Class A common stock		989		998

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Three Months Ended September 30,			Nine Months Ended September 30,
(In millions)		2024			2024			2023
Cash flows from operating activities:
Net income	$	774		$	1,817		$	1,519
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization		278			844			813
Stock-based compensation cost		53			154			148
Gain on equity securities		(99	)		(171	)		(639	)
Provision for deferred income taxes		2			35			68
Other asset impairments		—			—			43
Working capital		(21	)		(57	)		19
Other operating items, net		23			(480	)		159
Net cash flows provided by operating activities		1,010			2,142			2,130
Cash flows from investing activities:
Expenditures for capital assets		(300	)		(925	)		(868	)
Proceeds from disposal of assets		44			145			150
Proceeds from sale of equity securities		—			21			372
Proceeds from business dispositions		—			—			293
Net cash paid for acquisitions		—			—			(301	)
Other investing items, net		(13	)		(40	)		(149	)
Net cash flows used in investing activities		(269	)		(799	)		(503	)
Cash flows from financing activities:
Repayment of long-term debt		(9	)		(134	)		—
Dividends paid		(209	)		(628	)		(586	)
Repurchase of Class A common stock		(152	)		(476	)		(219	)
Other financing items, net		6			(55	)		(56	)
Net cash flows used in financing activities		(364	)		(1,293	)		(861	)
Effect of currency exchange rate changes on cash and cash equivalents		3			(32	)		(53	)
Increase in cash and cash equivalents		380			18			713
Cash and cash equivalents, beginning of period		2,284			2,646			2,488
Cash and cash equivalents, end of period	$	2,664		$	2,664		$	3,201
Supplemental cash flows disclosures:
Income taxes paid, net of refunds	$	397		$	733		$	463
Interest paid	$	49		$	199		$	205

Supplemental Financial Information

Supplemental financial information can be found on the Company’s website at: investors.bakerhughes.com in the Financial Information section under Quarterly Results.

Conference Call and Webcast

The Company has scheduled an investor conference call to discuss management’s outlook and the results reported in today’s earnings announcement. The call will begin at 9:30 a.m. Eastern time, 8:30 a.m. Central time on Wednesday, October 23, 2024, the content of which is not part of this earnings release. The conference call will be broadcast live via a webcast and can be accessed by visiting the Events and Presentations page on the Company’s website at: investors.bakerhughes.com. An archived version of the webcast will be available on the website for one month following the webcast.

Forward-Looking Statements

This news release (and oral statements made regarding the subjects of this release) may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, (each a “forward-looking statement”). Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “would,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue,” “target”, “goal” or other similar words or expressions. There are many risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. These forward-looking statements are also affected by the risk factors described in the Company’s annual report on Form 10-K for the annual period ended December 31, 2023 and those set forth from time to time in other filings with the Securities and Exchange Commission (“SEC”). The documents are available through the Company’s website at: http://www.investors.bakerhughes.com or through the SEC’s Electronic Data Gathering and Analysis Retrieval system at: http://www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statement, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

Our expectations regarding our business outlook and business plans; the business plans of our customers; oil and natural gas market conditions; cost and availability of resources; economic, legal and regulatory conditions, and other matters are only our forecasts regarding these matters.

These forward-looking statements, including forecasts, may be substantially different from actual results, which are affected by many risks, along with the following risk factors and the timing of any of these risk factors:

Economic and political conditions – the impact of worldwide economic conditions and rising inflation; the effect that declines in credit availability may have on worldwide economic growth and demand for hydrocarbons; foreign currency exchange fluctuations and changes in the capital markets in locations where we operate; and the impact of government disruptions and sanctions.
Orders and RPO – our ability to execute on orders and RPO in accordance with agreed specifications, terms and conditions and convert those orders and RPO to revenue and cash.
Oil and gas market conditions – the level of petroleum industry exploration, development and production expenditures; the price of, volatility in pricing of, and the demand for crude oil and natural gas; drilling activity; drilling permits for and regulation of the shelf and the deepwater drilling; excess productive capacity; crude and product inventories; liquefied natural gas supply and demand; seasonal and other adverse weather conditions that affect the demand for energy; severe weather conditions, such as tornadoes and hurricanes, that affect exploration and production activities; Organization of Petroleum Exporting Countries (“OPEC”) policy and the adherence by OPEC nations to their OPEC production quotas.
Terrorism and geopolitical risks – war, military action, terrorist activities or extended periods of international conflict, particularly involving any petroleum-producing or consuming regions, including Russia and Ukraine; and the recent conflict in the Middle East; labor disruptions, civil unrest or security conditions where we operate; potentially burdensome taxation, expropriation of assets by governmental action; cybersecurity risks and cyber incidents or attacks; epidemic outbreaks.

About Baker Hughes:

Baker Hughes (Nasdaq: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com

For more information, please contact:

Investor Relations

Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com

Media Relations

Adrienne Lynch
+1 713-906-8407
adrienne.lynch@bakerhughes.com

The MIL Network –

January 24, 2025

MIL-OSI United Kingdom: Governments launch largest review of sector since privatisation
Source: United Kingdom – Executive Government & Departments

The UK and Welsh Governments have introduced major legislation with new powers to bring criminal charges against water executives and a ban on bonuses.
An Independent Commission into the water sector and its regulation will be launched by the government tomorrow (Wednesday 23 October), in what is expected to form the largest review of the industry since privatisation.

The Commission forms the next stage in the Government’s long-term approach to ensuring we have a sufficiently robust and stable regulatory framework to attract the investment needed to clean up our waterways, speed up infrastructure delivery and restore public confidence in the sector.

It follows the Government’s inaugural International Investment Summit last week at which the Prime Minister spoke of the need for regulation and regulators to support growth and investment in the UK.

Launched by the UK and Welsh governments, the Commission will report back next year with recommendations to the Government on how to tackle inherited systemic issues in the water sector to restore our rivers, lakes and seas to good health, meet the challenges of the future and drive economic growth.

These recommendations will form the basis of further legislation to attract long-term investment and clean up our waters for good – injecting billions of pounds into the economy, speeding up delivery on infrastructure to support house building and addressing water scarcity, given the country needs to source an additional 5 billion litres of water a day by 2050.

Former Deputy Governor of the Bank of England, Jon Cunliffe, will chair the Commission. With several decades of economic and regulatory experience, his appointment demonstrates the Government’s serious ambitions.

The Commission will draw upon a panel of experts from across the regulatory, environment, health, engineering, customer, investor and economic sectors. It forms part of the Government’s reset of the water sector by establishing a new partnership between government, water companies, customers, investors, and all those who enjoy our waters and work to protect our environment.

Launching the review, Secretary of State Steve Reed said:

Our waterways are polluted and our water system urgently needs fixing.

That is why today we have launched a Water Commission to attract the investment we need to clean up our waterways and rebuild our broken water infrastructure.

The Commission’s findings will help shape new legislation to reform the water sector so it properly serves the interests of customers and the environment.

Water Commission Chair Sir Jon Cunliffe said:

I’m honoured to be appointed as chair of the government’s new Water Commission. It is vital we deliver a better system to attract stable investment and speed up the building of water infrastructure.

Working over many years in the public sector, in environment, transport and the Treasury, and the Bank of England, I have seen how the regulation of private firms can be fundamental to incentivising performance and innovation, securing resilience and delivering public policy objectives.

I am looking forward to working with experts from across the water sector, from environment and customer groups and investors, to help deliver a water sector that works successfully for both customers, investors and our natural environment.

Huw Irranca Davies, Wales’ Deputy First Minister with responsibility for Climate Change and Rural Affairs, added:

This vital review couldn’t come at a more urgent time for our water environment and water industry.

This shows the fresh approach of our two governments working together on an issue which affects us all as consumers, investors and as stewards of the natural world.

Both the Welsh and UK Governments are determined to improve water quality and the resilience of the water sector for future generations. We have clear priorities for reform and a shared sense of the work needed across both countries’ policy and regulatory regimes to make this change happen.

A set of recommendations will be delivered to the Defra Secretary of State, and Deputy First Minister and Cabinet Secretary for Climate Change and Rural Affairs next year. The UK Government and Welsh Government will then respond with the proposals they intend to take forward.

The objectives of the Commission are to recommend measures to ensure the regulatory system delivers:

Clear Vision: Establishing clear outcomes for the future and a long-term vision for delivering environmental, public health, customer, and economic outcomes.

Strategic Planning: Adopting a collaborative, strategic, catchment approach to managing water, tackling pollution and restoring nature.

Better Regulation: Rationalising and clarifying requirements for companies to secure better customer and environmental outcomes.

Empowered Regulators: Ensuring regulators are effective in holding water companies accountable, for example for illegal pollution.

Improved Delivery: Enhancing the sector’s ability to meet obligations, including clean rivers, lakes, and seas, while driving innovation.

Stable Framework: Ensuring a regulatory environment that attracts investment and supports financial resilience for water companies.

Consumer Protection: Safeguarding consumer interests and affordability through transparent and fair governance.

Resilient Infrastructure: Delivering and maintaining robust infrastructure on time, anticipating future needs and climate challenges.

The independent commission is the third stage of the government’s water strategy. In his first week in office, the Secretary of State secured an agreement from water companies and Ofwat to ringfence money for vital infrastructure upgrades so it cannot be diverted to shareholder payouts and bonus payments.

In just 70 days, the Government also introduced the Water (Special Measures) Bill, which sets out tough new measures to crack down on water companies failing their customers. This includes:

Bringing criminal charges against persistent lawbreakers, including imprisonment.

Strengthening regulation to ensure water bosses face personal criminal liability for lawbreaking.

Giving the water regulator new powers to ban the payment of bonuses if environmental standards are not met.

Boost accountability for water executives through a new ‘code of conduct’ for water companies, so customers can summon board members and hold executives to account.

Introduce new powers to bring automatic and severe fines.

Require water companies to install real-time monitors at every sewage outlet with data independently scrutinised by the water regulators.

In addition, the cost recovery powers of regulators will be expanded to ensure that water companies bear the cost of enforcement action taken in response to their failings. The Environment Agency will undertake a consultation on the implementation of these new powers.

Further quotes

Jon Phillips, Chief Executive of the Global Infrastructure Investor Association said:

The Secretary of State should be congratulated for acting swiftly to put in place this much needed review and reset of the water sector. No parties involved in the sector can be happy with the current arrangements, and that includes investors whose capital is vital to addressing current and future environmental challenges.

The government has heard loud and clear that the sector needs both a long-term plan and a regulatory framework that places greater emphasis on attracting investment. We look forward to the opportunity to support the Commission’s work and hope that its findings can be put into practice at the earliest opportunity.

Gail Davies-Walsh, CEO of Afonydd Cymru, said:

This independent review of Welsh and English water companies is very welcome news and something that we hope will ultimately result in a much needed boost for river health.

We would like to understand how long-term water company investment can be secured to deliver the environmental performance that we need.

Afonydd Cymru welcome the collaboration of Welsh Government and the UK Government on this matter, particularly given the current cross-border management issues that hinder river restoration efforts.

Richard Benwell, CEO of Wildlife and Countryside Link, said:

The water sector is a perfect example of where stronger, better enforced regulation can drive up investment and drive down pollution.

We welcome this significant review as the next step in Defra’s work to clean up our water environment. We’ll be looking for strong new rules that tie the industry into environmental investment and improve the way that money is spent in every river catchment to deliver quick, clean results for nature and communities.

Jamie Cook, CEO of Angling Trust, said:

The Angling Community has been calling for a root and branch review of Britain’s failing water sector, so we are pleased the Government has moved swiftly to set up an independent commission to deliver this.

However, there is inevitably going to be a difficult balancing act between economic, consumer and environmental priorities that this review will need to address. We are pleased the views of water users, like the two million anglers, are going to be a key part of this review.

The Angling Trust is committed to working with the commission to ensure the health of our rivers, lakes and seas remains front and centre of its work.

Mark Lloyd, CEO of Rivers Trust, said:

35 years after water privatisation, this review is long overdue, which makes it even more welcome. Our rivers have been flatlining for far too long, alongside the failure of our current systems to manage ageing infrastructure and population increase they face huge strategic challenges from climate change and biodiversity decline.

Incremental policy tweaks will not fix our water system, and the review must look beyond the water industry to include land and water management in both urban and rural areas. There needs to be much more focus on delivery of cost-effective solutions, through an integrated systems approach.

We will be keeping a close eye on the work of the commission to ensure it considers land use, nature, drought, flood and pollution in concert, because they are all intrinsically linked. We look forward to working closely with Sir Jon Cunliffe and his team on a new system.

Nicci Russell, CEO of Waterwise, said:

We welcome this review, its wide scope and the collaborative way the government is approaching it. We agree with the government that now is the time for a reset in the water sector – nothing happens without water, so access to water needs to be at the heart of everything the government does.

We will aim to put water efficiency at the heart of the Commission’s work, and look forward to working with Sir Jon and his team of experts to do this. The first objective in our Water Efficiency Strategy to 2030 is that governments and regulators show clear, visible leadership for water efficiency and reflect this in their policy and regulatory frameworks.

We are also delighted to see that Ministers are placing environmental and social outcomes as equally important to economic ones – because nothing happens without water. This is a great opportunity for the water sector to play a part in the Government’s mission of national renewal – not just in delivering a vital public service, but also in playing a proactive role to ensure a just society and a strong economy.

Joan Edwards, Director Policy and Public Affairs at The Wildlife Trusts, said:

This review comes not a moment too soon, given the precarious and polluted state of our waters, and the looming threat of future water shortages.

It’s crucial that regulation drives companies to invest in the solutions that can best deliver improvements for nature at the same time as limiting bill increases.

We look forward to supporting the Commission’s work by feeding in on the importance of a healthy environment and the changes needed to get us there.

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Published 22 October 2024
MIL OSI United Kingdom –
January 24, 2025
MIL-OSI United Nations: Note to Correspondents: Joint communiqué of the 8th AU-UN Annual Conference

Source: United Nations secretary general

1. On 21 October 2024, the African Union Commission Chairperson, Moussa Faki Mahamat and the United Nations Secretary-General António Guterres convened the Eighth African Union-United Nations Annual Conference in Addis Ababa, Ethiopia. They noted with deep concern the current state of peace and security globally, including armed conflicts and humanitarian crises, and in some cases profound disregard for international law and the shared principles of the two organizations.

2. The Chairperson and the Secretary-General reviewed progress in the implementation of the “Joint UN-AU Framework for Enhanced Partnership in Peace and Security,” the “AU-UN Framework for the Implementation of Agenda 2063 and the 2030 Agenda for Sustainable Development,” and the “AU-UN Joint Framework on Human Rights.” They welcomed the progress made in the implementation of the three joint frameworks.

3. The Chairperson and the Secretary-General welcomed the convening of the HighLevel Strategic Dialogue on Sustainable Development co-chaired by the Deputy Secretary-General of the United Nations and the Deputy Chairperson of the African Union Commission, which seeks to advance strategic coordination and alignment within the context of the African Union-United Nations Framework for the Implementation of Agenda 2063 and the 2030 Agenda for Sustainable Development. They reiterated their commitment to deliver socio-economic development and prosperity in line with the AU Agenda 2063 and UN 2030 Agenda. They welcomed the formulation of the Second Ten-Year Implementation Plan of Agenda 2063 and emphasized the need for the timely and effective implementation of the Plan, as well as a stronger working relationship between the AU and the UN at the continental, regional and national level in its realization towards Africa’s accelerated socio-economic transformation and development. In this regard, they saluted the decision of the AU-UN High-level Strategic Dialogue to engage the African Women Leaders Network to support the mainstreaming of gender throughout the AU-UN strategic coordination process. The Chairperson and the Secretary-General welcomed the progress made, and called for the full operationalization of mechanisms of the five thematic ‘college–to–college’ formations.

4. The Chairperson and the Secretary-General noted their concern that the absence of fiscal space in African countries to invest in sustainable development continues to undermine progress in the implementation of Agenda 2063 and the 2030 Agenda and called on Member States to approach the 4th International Conference on Financing for Development with the level of ambition needed to achieve transformative results. They reaffirmed the commitment of the African Union and the United Nations to jointly advocate for urgent measures to generate fiscal space, such as the SDG Stimulus and the reform of the international financial architecture. They reaffirmed the readiness of the two organizations to jointly support African Member States in strengthening their domestic resource mobilization systems to ensure the long-term sustainability of financing for development, including the Global Africa Business Initiative (GABI) convened by the UN Global Compact in collaboration with UN partner agencies.

5. The Annual Conference welcomed the African Union’s membership of the G20 and the commitment of the United Nations to work with and support the African Union in ensuring that Africa’s needs, interests and priorities are well articulated and take the center-stage in the processes, agenda, deliberations and outcomes of the G20 meetings.

6. The Chairperson and the Secretary-General welcomed the adoption by the United Nations General Assembly of the Pact for the Future, the Global Digital Compact and the Declaration on Future Generations on 22 September, noting that they open pathways to new possibilities and opportunities towards a more effective, inclusive, networked multilateral system that is better equipped to effectively respond to today’s and tomorrow’s political, economic, environmental and technological challenges. They called for urgent and concerted action to implement all agreed commitments.

7. The Annual Conference underscored the primacy of political solutions and the need to strengthen the capacities of both organizations in preventive diplomacy and mediation. The Annual Conference emphasized the imperative to prioritize good offices missions, and further strengthen collaboration between Africa Union and United Nations Special Representatives and Envoys deployed in various parts of the continent.

8. The Annual Conference welcomed the ongoing initiatives in promoting the Women Peace and Security and the Youth Peace and Security agendas, as well as protection of children in conflict situations. They reiterated the importance of consolidating and building on the gains made in promoting inclusive political processes through effective engagement and participation of women and the youth in peace processes at the technical, operational, decision-making and policymaking levels.

9. The Chairperson and the Secretary-General welcomed the ongoing elaboration of the Common African Position on Climate, Peace and Security, which would represent not only a global precedent, but also an important step for mitigation and adaptation strategies on the continent. They underscored the importance of the Common African Position both as a means of underscoring the effects of climate change on Africa’s peace, security, and development efforts, and as a means to strengthen Africa’s calls for support in its sustainable development and for equity in the name of climate justice. In particular, the Annual Conference highlighted the risks posed by the aggravating water crisis across the continent, and called for greater collaboration between the AU and the UN to overcome the crisis. The Annual Conference also looked forward to the outcome of the Ninth Session of the Africa Regional Platform and the High-Level Meeting on Disaster Risk Reduction, scheduled for the 21-24 October in Namibia, and in this context called for the accelerated development of early warning systems, to attain the goal of universal coverage by 2027.

10.The Chairperson and the Secretary-General welcomed the adoption of United Nations Security Council resolution 2719 (2023) which represents a significant milestone toward ensuring adequate, predictable and sustainable funding for African Union-led peace support operations. They further recognized that the resolution provides opportunities to strengthen the partnership between the two organizations in peace and security under Chapter VIII of the Charter of the United Nations, whilst ensuring that peace operations in general adapt to present day realities. The Annual Conference endorsed the joint AU-UN roadmap on the operationalization of resolution 2719 (2023). The Annual Conference reaffirmed the preservation of the comparative advantages and complementarity of the African Union and the United Nations, based on their respective mandates, principles and shared objectives. It underscored the importance of the implementation of the resolution, whilst maintaining an integrated approach in addressing conflict situations comprehensively, by ensuring that capacities, systems, procedures and processes, as well as joint accountability and institutional readiness continue to be strengthened for the delivery and sustainment of African Union-led peace support operations deployed under resolution 2719 (2023).

11.The Annual Conference expressed grave concern about the stalled political transition processes in Burkina Faso, Gabon, Guinea, Mali, Niger and Sudan, and called for the timely and peaceful return to constitutional order in these countries. The Annual Conference also noted with concern the heightened instability and insecurity, as well as the shrinking civic space in the affected States. The Annual Conference recognized the importance of dialogue and collaboration between affected States and sub-regional, continental, and global organizations in addressing the political, peace, security, development and human rights challenges.

12.The Chairperson and the Secretary-General considered the final report of the High-Level Independent Panel on Security and Development in the Sahel presented by the Chair of the Panel, former President of the Republic of Niger Mahamadou Issoufou, and agreed to jointly take forward key recommendations through their respective organs and institutional mechanisms. The Annual Conference reaffirmed the commitment of the African Union and the United Nations to enhance their support in advancing democratic transitions in West Africa and the Sahel, working closely with the Economic Community of West African States (ECOWAS).

13.On Libya, the Annual Conference welcomed efforts by the United Nations to foster inclusive political dialogue, including recent progress on the governance of the Central Bank. It took note of the persistent political stalemate and entrenched divisions in Libya, which continue to pose challenges for efforts to reunite the country and organize credible presidential and parliamentary elections to put in place unified, representative and legitimate Libyan institutions. The Annual Conference stressed that Libya’s sustainable peace and stability will only be realized through inclusive processes that will bring about legitimate governance and institutions; and in that regard, collective efforts, including of neighbors and international partners, must focus on supporting and encouraging the main Libyan leaders to take ownership of the political process, set aside personal interests and strive to reach political consensus in support for national reconciliation and the conduct of elections without further delays. The Conference expresses full support for the continued engagement of the African Union to promote national reconciliation through the adoption of the Charter on National Reconciliation.

14.The Annual Conference observed that geopolitical dynamics in the Horn of Africa are becoming increasingly fragile and therefore noted the need for ever more coordinated preventive action and messaging by both organizations and partners on de-escalation and constructive engagement. On Somalia, the Annual Conference reiterated their close collaboration, including on the implementation of Security Council resolution 2748 (2024) to finalize the mission implementation plan for the PSC endorsed African Union Stabilization and Support Mission in Somalia. It also reaffirmed the importance of sustained and full implementation of the Cessation of Hostilities Agreement in Tigray, Ethiopia. On South Sudan, the Annual Conference agreed to enhance coordination of regional and international support for the process led by the Intergovernmental Authority on Development and called on the Transitional Government to sustain momentum in discussions on an agreed updated roadmap and timeline and advance the implementation of the Revitalized Agreement. On Sudan, the Annual Conference expressed grave concerned about the further escalation of fighting between the Sudanese Armed Forces and the Rapid Support Forces. They urged the parties to immediately engage in genuine dialogue to reach a permanent ceasefire, while stressing that the protection of civilians should be guaranteed at all times and unhindered and sustained humanitarian access should be ensured. The African Union and the United Nations strongly condemned external interference in Sudan and urged these actors to stop the flow of arms in Sudan, which continues to fuel the conflict. They welcomed the efforts spearheaded by the African Union and the Intergovernmental Authority on Development to support the transition to a fully democratic government that fulfils the aspirations of the Sudanese people. The Annual Conference also encouraged the good offices of the Personal Envoy of the Secretary-General on Sudan and AU High-Level Panel on Sudan and called for strengthened diplomatic push underpinned by the coordination and complementarity of initiatives. They welcomed the establishment of the PSC Presidential Ad Hoc Committee on Sudan, and reaffirmed their commitment to support the Committee in executing its mandate.

15.On the Great Lakes region, the Annual Conference welcomed the 4 August ceasefire between the Democratic Republic of the Congo (DRC) and Rwanda, which has contributed to a reduction in hostilities in the North Kivu province of the DRC, while expressing concern about the humanitarian situation in North Kivu and Ituri, where armed groups activities continue to affect civilians and impede activities of humanitarian workers. The Annual Conference commended African Union mediator President João Lourenço of Angola for his steadfast efforts through the Luanda process, and the efforts deployed under the auspices of the East African Community (EAC) and the Southern African Development Community (SADC), including the deployment of the SADC Mission in the Democratic Republic of the Congo (SAMIDRC), aimed at restoring peace and security in the eastern Democratic Republic of the Congo. The Annual Conference stressed that attaining sustainable peace calls for addressing the root causes, including through full implementation of the Peace, Security and Cooperation Framework for the Democratic Republic of the Congo and the region, and in that regard, called for enhanced coordination of regional peace initiatives, including through the Quadripartite Process facilitated by the African Union.

16.The Annual Conference took note of the expiry of the terms of office of the African Union Commission Chairperson, Deputy Chairperson and Commissioners in early 2025. The Secretary-General took the opportunity to commend the African Union Commission leadership for the commitment and support to the partnership during their terms of office. He paid special tribute to Chairperson Moussa Faki Mahamat for his leadership of the African Union Commission over the last eight years.

17.The Chairperson and Secretary-General agreed to convene the Ninth African Union – United Nations Annual Conference in 2025 in New York at a mutually convenient date.

MIL OSI United Nations News –

January 24, 2025
MIL-OSI USA: Senator Wicker Statement on Gulf Coast Passenger Service Grant Approval

US Senate News:

Source: United States Senator for Mississippi Roger Wicker

WASHINGTON – Today, an agreement was reached among stakeholders on the Consolidated Rail Infrastructure and Safety Improvements (CRISI) Grant which will provide crucial funding to restore passenger rail service along the Mississippi Gulf Coast. The $178,435,333 grant was previously awarded by the Federal Railroad Administration.

U.S. Senator Roger Wicker, R-Miss., has used his position as Chairman and Ranking Member of the U.S. Senate Commerce Committee to restore the return of passenger rail to the Gulf Coast for the first time since Hurricane Katrina. While serving as chairman, he helped negotiate the infrastructure bill which is the origin of the CRISI Grant.

Senator Wicker released the following statement:

“I appreciate the partnership shared by local and state government officials and the freight rail companies, CSX, and Norfolk Southern. This service will provide economic opportunities to the Gulf Coast Region and provide an alternative way to move people safely. Years of hard work and cooperation have brought us to this important moment,” Senator Wicker said.

Scheduled to resume in 2025, the services are expected to provide economic growth opportunities, boost tourism, and reduce traffic on our roadways. Two trains will run roundtrip from New Orleans to Mobile with stops in Bay St. Louis, Gulfport, Biloxi, and Pascagoula.

A groundbreaking ceremony was held today in Mobile for the layover track, where a train is stored when not in use. That piece of the project had been one of the remaining hurdles to restoring the route.

MIL OSI USA News –

January 24, 2025
MIL-OSI New Zealand: Resetting the Emissions Trading Scheme annual charge for post-1989 forestry participants
Source: Ministry for Primary Industries
Your views sought

We want your feedback on 2 proposals relating to cost recovery settings for forestry Emissions Trading Scheme (ETS) participants. We anticipate that changes would be made by early 2025.
- Proposal 1: A reduced annual charge for post-1989 forestry ETS participants.
- Proposal 2: Amending the Climate Change (Forestry) Regulations 2022 for the field measurement approach during the 2023–25 reporting period.
As part of this consultation, we are holding 2 webinars and an online hui.

Summaries of the proposals are on this page and full details are in the discussion paper.

Submissions are open from 23 October until 5pm on 13 November 2024.

About Proposal 1

If you have post-1989 forest land in the ETS, the per hectare annual charge is calculated for the financial year. It’s based on the amount of land you have in the ETS on 1 July.

We are proposing to reduce the per hectare annual charge from $30.25 to $14.90, starting in the 2024–25 financial year.

About Proposal 2

Forestry participants with at least 100 hectares of post-1989 forest land in the ETS have to use the field measurement approach to calculate carbon stored in their forests for their emissions returns.

When the previous (2023) cost recovery regulations were enacted, they imposed a service fee. The fee resulted in additional costs for those who could use their existing field measurement approach data or use default carbon tables to calculate carbon stock, during the shorter 2023–25 reporting period.

To address this issue, we are proposing to update the regulations. This means, that for any emissions return that covers all or part of the shorter 2023–25 reporting period, people using the field measurement approach can calculate carbon stock using:
- the default carbon tables (in regulations) if they do not have field measurement approach participant specific tables, or
- existing participant specific tables if they have them.
Discussion paper

Resetting the Emissions Trading Scheme annual charge for post-1989 forestry participants [doc: 65715]

Webinars on the proposals

To support this consultation, we are running 2 webinars and an online hui. These sessions will provide an opportunity for you to ask questions and discuss the proposals. The online hui is a dedicated session for whenua Māori to give feedback on the proposals. You must register to attend the webinars or hui.

Times and dates of the webinars and the hui

Webinar 1: 4pm on Thursday 31 October 2024.

Register to attend Webinar 1 – Connect

Webinar 2: 12pm on Thursday 7 November 2024.

Register to attend Webinar 2 – Connect

Online hui: 12pm on Monday 4 November 2024.

Register to attend the online hui – Connect

Making your submission

Send us your feedback on the proposals in the consultation document by 5pm on 13 November 2024.

We would prefer if you made a submission electronically – either by using the online form or by email. However, we will also accept written submissions sent by post.

You are welcome to make your submission on the whole discussion document, or you can choose the areas relevant to you. Provide supporting evidence with your submission where possible.

Online

Online submission form – Alchemer

Email

If you are sending us a submission by email, we encourage you to use the submission template which has the same questions as the online form.

Submission template [doc: 65718]

The email address is etsforestrychanges@mpi.govt.nz

Post

If you prefer to make your submission in writing, send it to:

NZ ETS Cost Recovery
Forestry System Directorate
Ministry for Primary Industries
PO Box 2526
Wellington 6140.
Submissions are public information

Note that all, part, or a summary of your submission may be published on this website. Most often this happens when we issue a document that reviews the submissions received.

People can also ask for copies of submissions under the Official Information Act 1982 (OIA). The OIA says we must make the content of submissions available unless we have good reason for withholding it. Those reasons are detailed in sections 6 and 9 of the OIA.

If you think there are grounds to withhold specific information from publication, make this clear in your submission or contact us. Reasons may include that it discloses commercially sensitive or personal information. However, any decision MPI makes to withhold details can be reviewed by the Ombudsman, who may direct us to release it.

Official Information Act 1982 – NZ Legislation

MIL OSI New Zealand News –
January 24, 2025
MIL-OSI Australia: G20 meetings in the United States
Source: Australian Treasurer

I will join key economic ministers and central bank governors from the world’s most significant economies at the G20, International Monetary Fund and World Bank annual meetings over the coming days in Washington DC.

Australia is not immune from the volatility and vulnerability which characterises the global economy.

The risk of further escalation in the Middle East threatens a resurgence in oil prices and casts a dark shadow over the global outlook.

Conflict in the Middle East compounds the pressures already coming at us from the war in Ukraine, the slowdown in China, persistent global inflation, tepid global growth and sharp movements on stock markets.

There is always a premium on responsible economic management and engagement but especially now, with all this uncertainty around the world.

This is a really critical time to confer with colleagues and counterparts.

There will be in‑depth discussions on the global economy, the energy transformation, economic security and reform of our multilateral institutions.

This will include meetings with:
- New Japanese Finance Minister Katsonobu Kato, who I will meet for the first time;
- US Treasury Secretary Janet Yellen, for our sixth bilateral;
- Chair of the US Federal Reserve Jerome Powell;
- Director of President Biden’s National Economic Council Lael Brainard;
- South Korean Deputy Prime Minister and Minister of Economy Choi Sang‑Mok; and
- Canadian Deputy Prime Minister Chrystia Freeland.
I will participate in discussions as part of the G20 Taskforce on a Global Mobilisation Against Climate Change. Our focus will be on attracting the capital we need to create new jobs and opportunities in the transformation to cleaner and cheaper energy.

I’ll also have an opportunity to be briefed on Australia’s interests in the United States by Ambassador Kevin Rudd.

Responsible economic management is a defining feature of the Albanese Labor Government in these uncertain times.

Our Budget surpluses aren’t an end in themselves, they help in the fight against inflation, provide room for our priorities and they help build buffers against some of this global volatility.

Getting inflation down, helping with the cost of living, repairing the Budget and reforming our economy are the essential components of our strategy and we are making welcome progress.

In a little over two years we have halved inflation, created a million new jobs, got real wages growing again, provided tax relief to every taxpayer, delivered the first back‑to‑back surpluses in two decades, avoided $150 billion of inherited debt and saved tens of billions of dollars in interest costs.

These meetings will provide important perspectives on the global outlook and allow us to make further progress at home and with our key international partners.

MIL OSI News –
January 24, 2025
MIL-OSI USA: Time’s Running Out! Louisiana Non-Profits: SBA Deadline for Hurricane Francine Property Damage Aid Nears

Source: United States Small Business Administration

“As communities across the Southeast continue to recover and rebuild after Hurricanes Helene and Milton, the SBA remains focused on its mission to provide support to small businesses to help stabilize local economies, even in the face of diminished disaster funding,” said Administrator Isabel Casillas Guzman. “If your business has sustained physical damage, or you’ve lost inventory, equipment or revenues, the SBA will help you navigate the resources available and work with you at our recovery centers or with our customer service specialists, in person and online, so you can fully submit your disaster loan application and be ready to receive financial relief as soon as funds are replenished.”

SACRAMENTO, Calif. – Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, today reminded Louisiana private nonprofit organizations of the Nov. 22, deadline to apply for an SBA federal disaster loan for property damage caused by Hurricane Francine that occurred Sept. 9-12. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.

According to Sánchez, eligible private nonprofits of any size may apply for SBA federal disaster loans of up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

In addition, SBA offers Economic Injury Disaster Loans to help eligible private nonprofits meet working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the private nonprofit suffered any property damage. Private nonprofits have until June 23, 2025, to apply for an SBA Economic Injury Disaster Loan.

“SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” Sánchez continued. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”

These low-interest federal disaster loans are available in Ascension, Assumption, East Baton Rouge, East Feliciana, Iberville, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, St. Bernard, St. Charles, St. Helena, St. Martin, St. Mary, St. Tammany, Tangipahoa, Terrebonne, Washington and West Feliciana parishes.

The interest rate is 3.25 percent with terms up to 30 years. Loan amounts and terms are set by SBA and based on each applicant’s financial condition.

Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

On October 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.

Applicants are encouraged to submit their loan applications promptly for review in anticipation of future funding.

Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

###

About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov.

MIL OSI USA News –

January 24, 2025
MIL-OSI USA: Governor Cooper Urges Western North Carolinians to Enroll in Disaster Supplement Nutrition Assistance Program (D-SNAP) as Relief Efforts Continue

Source: US State of North Carolina

Headline: Governor Cooper Urges Western North Carolinians to Enroll in Disaster Supplement Nutrition Assistance Program (D-SNAP) as Relief Efforts Continue

Governor Cooper Urges Western North Carolinians to Enroll in Disaster Supplement Nutrition Assistance Program (D-SNAP) as Relief Efforts Continue
mseets
Tue, 10/22/2024 – 17:14

As relief efforts continue in Western North Carolina, Governor Cooper is encouraging Western North Carolinians affected by Hurricane Helene to enroll in Disaster Supplemental Nutrition Assistance Program (D-SNAP) this week by the Thursday deadline. Eligible households can apply for help buying food through D-SNAP.

“We know many North Carolinians were affected by Helene and D-SNAP is one of the many ways we are taking action to get help to those who need it,” said Governor Cooper. “I encourage all those eligible to apply by Thursday’s deadline. We will continue to support communities and families every step of the way as they recover.”

The deadline to apply for D-SNAP is Thursday, October 24, 2024. Eligible households may apply for D-SNAP through Thursday, October 24 by phone or in person. More information including a list of application sites by county is available at ncdhhs.gov/dsnap.

North Carolina National Guard and Military Response

Over 3,000 Soldiers and Airmen are working in Western North Carolina. Joint Task Force- North Carolina, the task force led by the North Carolina National Guard is made up of Soldiers and Airmen from 12 different states, two different XVIII Airborne Corps units from Ft. Liberty, a unit from Ft. Campbell’s 101st Airborne Division, and numerous civilian entities are working side-by-side to get the much-needed help to people in Western North Carolina.

The U.S. Army Corps of Engineers is helping to assess water and wastewater plants and dams. Residents can track the status of the public water supply in their area through this website.

FEMA Assistance

Approximately $133 million in FEMA Individual Assistance funds have been paid so far to Western North Carolina disaster survivors and approximately 210,000 people have registered for Individual Assistance. Over 6,200 people have been helped through FEMA’s Transitional Sheltering Assistance. More than 5,400 registrations for Small Business Administration Loans have been filed.

Approximately 1,500 FEMA staff are in the state to help with the Western North Carolina relief effort. In addition to search and rescue and providing commodities, they are meeting with disaster survivors in shelters and neighborhoods to provide rapid access to relief resources. They can be identified by their FEMA logo apparel and federal government identification.

North Carolinians can apply for Individual Assistance by calling 1-800-621-3362 from 7am to 11pm daily or by visiting www.disasterassistance.gov, or by downloading the FEMA app. FEMA may be able to help with serious needs, displacement, temporary lodging, basic home repair costs, personal property loss or other disaster-caused needs.

Help from Other States

More than 1,600 responders from 39 state and local agencies have performed 147 missions supporting the response and recovery efforts through the Emergency Management Assistance Compact (EMAC). This includes public health nurses, emergency management teams supporting local governments, veterinarians, teams with search dogs and more.

Beware of Misinformation

North Carolina Emergency Management and local officials are cautioning the public about false Helene reports and misinformation being shared on social media. NCEM has launched a fact versus rumor response webpage to provide factual information in the wake of this storm. FEMA also has a rumor response webpage.

Efforts continue to provide food, water and basic necessities to residents in affected communities, using both ground resources and air drops from the NC National Guard. Food, water and commodity points of distribution are open throughout Western North Carolina. For information on these sites in your community, visit your local emergency management and local government social media and websites or visit ncdps.gov/Helene.

Storm Damage Cleanup

If your home has damages and you need assistance with clean up, please call Crisis Cleanup for access to volunteer organizations that can assist you at 844-965-1386.

Power Outages

Across Western North Carolina, approximately 5,200 customers remain without power, down from a peak of more than 1 million. Overall power outage numbers will fluctuate up and down as power crews temporarily take circuits or substations offline to make repairs and restore additional customers.

Road Closures

Some roads are closed because they are too damaged and dangerous to travel. Other roads still need to be reserved for essential traffic like utility vehicles, construction equipment and supply trucks. However, some parts of the area are open and ready to welcome visitors which is critical for the revival of Western North Carolina’s economy. If you are considering a visit to the area, consult DriveNC.gov for open roads and reach out to the community and businesses you want to visit to see if they are welcoming visitors back yet.

NCDOT currently has over 2,000 employees and 900 pieces of equipment working on over 7,400 damaged road sites.

Fatalities

Ninety-six storm-related deaths have been confirmed in North Carolina by the Office of Chief Medical Examiner. This number is expected to rise over the coming days. The North Carolina Office of the Chief Medical Examiner will continue to confirm numbers twice daily. If you have an emergency or believe that someone is in danger, please call 911.

Volunteers and Donations

If you would like to donate to the North Carolina Disaster Relief Fund, visit nc.gov/donate. Donations will help to support local nonprofits working on the ground.

For information on volunteer opportunities, please visit nc.gov/volunteernc.

Additional Assistance

There is no right or wrong way to feel in response to the trauma of a hurricane. If you have been impacted by the storm and need someone to talk to, call or text the Disaster Distress Helpline at 1-800-985-5990. Help is also available to anyone, anytime in English or Spanish through a call, text or chat to 988. Learn more at 988Lifeline.org.

If you are seeking a representative from the North Carolina Joint Information Center, please email ncempio@ncdps.gov or call 919-825-2599.

For general information, access to resources, or answers to frequently asked questions, please visit ncdps.gov/helene.

If you are seeking information on resources for recovery help for a resident impacted from the storm, please email IArecovery@ncdps.gov.

###

Oct 22, 2024

MIL OSI USA News –

January 24, 2025
MIL-OSI: SECU Members Benefit from Suncoast Credit Union Mobile ATM During Storm Recovery

Source: GlobeNewswire (MIL-OSI)

RALEIGH, N.C., Oct. 22, 2024 (GLOBE NEWSWIRE) — Florida-based Suncoast Credit Union generously provided State Employees’ Credit Union (SECU) with a mobile ATM to help support the financial needs of its members and area residents affected by Hurricane Helene in Western North Carolina (WNC). The mobile ATM offers 24-hour availability and is currently located at SECU’s Asheville-Oak Plaza Branch, which is without a functioning ATM and is operating on a modified schedule until water and other resources are fully restored.

While most of its area branches and ATMs are operating in some capacity, SECU encourages members to check the online Branch and ATM Locator to determine if their closest location is open or operating on a modified schedule due to ongoing storm recovery.

“We are very grateful to Suncoast Credit Union for their generosity and swift action in helping us deliver much-needed ATM access to support our members and others in the community who desperately need cash during this difficult time,” said SECU President and CEO Leigh Brady. “Western North Carolina has a long and challenging road ahead, and we will continue to find ways to help our neighbors recover from Helene’s destruction. We also recognize that as our Florida friends are extending helping hands to us, they are also recovering from storm damage, most recently from Hurricane Milton. We are keeping them close to our hearts and are ready to support them as well.”

“Our goal is to be where we are needed because that is the credit union way,” said Suncoast Credit Union President and CEO Kevin Johnson. “People helping people is part of the Suncoast Credit Union DNA, so our traveling to North Carolina is an act of heartfelt readiness to serve those whose lives have, like many Floridians, been devastated by the fate of nature. Working together, we can create change and expedite restoration.”

About SECU

A not-for-profit financial cooperative owned by its members, and federally insured by the National Credit Union Administration (NCUA), SECU has been providing employees of the state of North Carolina and their families with consumer financial services for 87 years. SECU is the second largest credit union in the United States with $56 billion in assets. It serves more than 2.8 million members through 275 branch offices, over 1,100 ATMs, Member Services Support via phone, http://www.ncsecu.org, and the SECU Mobile App.

About Suncoast Credit Union

Suncoast Credit Union is the largest credit union in the state of Florida, the 8th largest in the United States based on membership, and the 10th largest in the United States based on its $18.7 billion in assets. Chartered in 1934 as Hillsborough County Teachers Credit Union, Suncoast Credit Union currently operates 78 full-service branches and serves more than 1.2 million members across Florida. As a community credit union, anyone who lives, works, attends school, or worships in Suncoast Credit Union’s service area is eligible for membership. In 2021, Suncoast Credit Union’s field of membership was expanded to include public K-12 teachers, college educators, and educational support staff from all of Florida’s 67 counties. Suncoast is passionate about community support. Since its founding in 1990, the Suncoast Credit Union Foundation has raised and donated more than $45 million to organizations and initiatives that support the health, education, and emotional well-being of children in the communities that the credit union serves. For more information, visit http://www.suncoast.com or follow us on social media: Facebook, LinkedIn, Twitter, and Instagram.

SECU Contact: Sandra Jones, SVP – Communications
Office: (919) 508-8773 | sandra.jones@ncsecu.org

Suncoast Contact: Patti Barrow, Vice President of Media Relations
Office: (813) 280-4441 | patti.barrow@suncoastcreditunion.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/be2b89b6-5cac-422a-9af2-a3a3209ec1de

The MIL Network –

January 24, 2025
MIL-OSI Germany: How climate risk will complicate central bankers’ jobs | Guest contribution in the Financial Times

Source: Deutsche Bundesbank in English

It is clear that the effects of climate change have started to influence the monetary policy considerations of several central banks. Unfortunately, such factors will become even more relevant in the future.
Severe weather events are intensifying, and so too are their economic impacts. Tropical storm Helene in south-eastern US is just the latest reminder of the damage that can be wrought. The annual damages on properties caused by natural catastrophes have more than doubled in real terms over the past two decades, reaching $280bn globally in 2023, according to Swiss Re. The overall impact is much larger, as acute physical effects ripple through the economy, influencing supply, demand and financial flows – and thus also monetary policy.
A new Network for Greening the Financial System report compellingly illustrates how natural catastrophes such as floods and hurricanes affect the economy. They destroy homes, local infrastructure and production sites, requiring years and enormous amounts of money to rebuild. Waning confidence could prompt companies and households to cut back on spending, further undermining economic growth prospects.
Price impacts are not spared, as severe weather events, among other factors, damage agricultural production and drive up food prices across regions. These sectoral effects can lead to an increase in overall inflationary pressures, depending on how much a drop in demand balances them out. For instance, droughts tend to exert upward pressure on headline inflation for several years, with developing economies especially affected, because of their higher dependency on agriculture.
Against this backdrop, central banks might face the complicated task of taming inflationary pressure in a weak economy. Think of a situation when rising inflationary pressure might warrant policy tightening – particularly for central banks, whose primary mandate is price stability – even though this could contribute to economic strain. The State Bank of Pakistan, for instance, in 2022 opted to continue raising policy rates after the devastating floods caused a sharp increase in food prices.
Climate change – and its uncertain outcomes – mean that central banks must focus on looking ahead and extend their horizon beyond the usual projection period. Estimates of future impacts illustrate what could be in store for the economy and the financial sector. At a global level, climate change could drive up annual food price inflation by between one and three percentage points by 2035, according to a study of the European Central Bank and the Potsdam Institute for Climate Impact Research.
However, most studies still fail to consider the risk of crossing climate tipping points, which can significantly accelerate climate change. According to the OECD, ignoring these critical thresholds results in a severe underestimation of the economic costs. Extreme weather events can also bring us closer to these tipping points. The current drought in the Amazon region – the most severe since systematic recording began in 1950 – exemplifies this risk. With one-fifth of the Amazon rainforest already lost, mostly due to deforestation, concerns are mounting that this carbon sponge is on the brink of collapse. That would trigger a cascade of climate events, leading to higher economic costs globally.
What is more, uncertainties surrounding the magnitude and duration of severe weather events – coupled with governments’ responses – will make the short-term forecasting of key economic indicators particularly challenging. An example is Hurricane Katrina in 2005, and the subsequent landfalls of hurricanes Rita and Wilma. In the highly dynamic weeks and months that followed, staff of the Federal Reserve adjusted their estimates of output and inflation a few times, as new information trickled in. Throughout the process, the Fed remained predictable in its actions, highlighting that good communication is key.
Central banks have another side to watch, too, namely the green transition. Inflation and output may become more volatile as we undergo a transformation of the energy sector and supply chains. In the short term, carbon pricing and rising climate investments could reinforce inflationary pressures.
Intensifying climate change adds to the array of challenges that monetary policy needs to adjust to. As extreme weather events become more frequent, central banks must pay even greater attention to longer-term inflation expectations. Though the reaction of each central bank will depend on its mandate, clear communication is essential to guide market expectations and ensure that policy decisions are well understood.

MIL OSI

MIL OSI German News –

January 24, 2025
MIL-OSI Australia: Spring warmth builds across Australia, peaks on Tuesday for the south-east

Source: Weather Warnings – Australia

22/10/2024

Issued: 22 October 2024

Spring warmth is building over large parts of Australia this week with above average temperatures on Tuesday.

Heatwave warnings remain current across northern Australia and high to extreme Fire Danger Ratings are affecting parts of the country.

Senior Meteorologist Jonathan How said the heat will peak in Victoria, Tasmania, southern NSW and eastern South Australia on Tuesday. Maximum temperatures will be 6-12°C above the October average with strengthening northerly winds.

“High fire dangers are forecast for north-west Victoria, western Tasmania and eastern SA from Tuesday,” he said.

“Melbourne is forecast to reach 32°C on Tuesday, which would make it the warmest October day in 5 years (since 33.8°C on 24 Oct 2019), and the warmest day of this year since March.”

“Maximum temperatures will reach the low-to-mid 30s across northern Victoria and southern NSW today, and the mid-20s for Tasmania. Hobart is forecast to reach 25°C – also its warmest day this year since March.”

The warmest forecast temperatures in south-east Australia on Tuesday include Mildura, Victoria (36°C), Renmark, SA (36°C) and Broken Hill, NSW (35°C).

But the heat will be short-lived in south-east Australia as a surface trough will move through on Tuesday, bringing cooler southerly winds.

“Cooler winds will move through South Australia and south-west Victoria by the early afternoon, and then push into remaining parts of Victoria, Tasmania and southern NSW into the evening. Temperatures will fall by 5-10°C following the change,” he said.

Cool to cold conditions will continue over South Australia, Victoria and Tasmania on Wednesday, with showers for Tasmania and southern Victoria. Snow flurries are possible in elevated areas from Wednesday night.

While it will remain cool over the south-east on Wednesday, the focus of the heat will shift into northern and eastern NSW, and southern inland Qld. Maximum temperatures in these areas will be 4-8°C above average. Sydney is forecast to reach 27°C on Wednesday, but it will be warmer inland. Forecast maximums for Wednesday include 31°C at Dubbo, 33°C at Toowoomba and 38°C at Charleville.

The cool change will move over the rest of NSW and southern Qld from late Wednesday and into Thursday. Thunderstorms are possible for eastern NSW and south-east/central Qld on Thursday with severe thunderstorms also possible.

In contrast, Thursday will see heat build over western inland parts of Western Australia. Maximum temperatures will be 6-12°C above average away from the coast, reaching the mid-30s through the Wheatbelt.

In northern Australia, the build-up continues with hot and humid conditions expected along the Northern Territory, Kimberley and Cape York coasts, with showers and storms possible most days this week.

Jonathan How said the combination of heat and humidity is driving current heatwave warnings across the Kimberley, Top End and Cape York.

“Storms could extend to inland parts of the north at times this week as well, although these will bring little to no rain to interior areas. Dry storms can bring a risk of new bushfire ignitions,” he said.

Stay up to date with the latest forecasts and warnings: http://www.bom.gov.au or the BOM Weather app.

ENDS…

MIL OSI News –

January 24, 2025
MIL-OSI USA: FEMA Administrator Announces Community Liaison Hiring Program As Helene Recovery Continues

Source: US Federal Emergency Management Agency

Headline: FEMA Administrator Announces Community Liaison Hiring Program As Helene Recovery Continues

FEMA Administrator Announces Community Liaison Hiring Program As Helene Recovery Continues

WASHINGTON – FEMA Administrator Deanne Criswell continued meeting with survivors and responders in North Carolina while leading the federal recovery efforts.FEMA Administrator Deanne Criswell joined Gov. Roy Cooper to visit a community care station in Asheville where the administrator announced the community liaison hiring program in the state. The agency will hire community-based staff to serve as liaisons between North Carolina survivors and FEMA to ensure needs are met throughout the recovery. North Carolina’s recovery continues progressing with power being restored to most customers while roads are reopening as debris is cleared. Over $130 million has gone to more than 91,000 households in the state for assistance like making home repairs and paying for a temporary place to stay. Nearly 4,600 survivors have participated in FEMA’s Transitional Sheltering Assistance program where they stay in hotels as they work on their recovery plans.Recovery continues in other states affected by Helene and Milton. For instance, in Florida—where power has been restored to pre-storm levels—more than 97,000 households have been approved for over $308 million in FEMA assistance for their Helene recovery. Over 116,000 households have received more than $129 million for Milton. In addition, the U.S. Army Corps of Engineers announced Operation Blue Roof which is a free service to homeowners for 25 counties in Florida impacted by Hurricane Milton. Residents can sign-up at http://www.blueroof.gov or by calling 888-ROOF-BLU (888-766-3258). The sign-up period deadline is Nov. 5.FEMA encourages Helene and Milton survivors to apply online as this remains the best way to apply for disaster assistance. Here are the ways to apply for federal assistance: Apply online at disaster assistance.govCall 800-621-3362Use the FEMA AppVisit a Disaster Recovery Center to talk with FEMA and state agency officials and apply for assistancePresident Biden has approved major disaster declarations in six states – Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia – affected by Helene. He has also approved a major disaster declaration for Florida following Hurricane Milton.These photos highlight response and recovery efforts across states impacted by hurricanes Helene and Milton.
View Original’ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56715″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/ea36011f24448953e593fc9711a78afc.jpg?itok=4skrYjFT” alt=”Caption: Hendersonville, NC (Oct. 21, 2024) – FEMA Administrator, Deanne Crisswell, meets with survivors of Hurricane Helene as well as staff supporting recovery efforts at a Disaster Recovery Center.” class=”image-style-large”>

Hendersonville, NC (Oct. 21, 2024) – FEMA Administrator, Deanne Crisswell, meets with survivors of Hurricane Helene as well as staff supporting recovery efforts at a Disaster Recovery Center.

View Original’ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56723″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/32c26741d8be2764728a9fd776fcb778.jpg?itok=KWdFFHt6″ alt=”Caption: Asheville, NC (October 21, 2024) – FEMA Administrator, Deanne Criswell, and North Carolina Governor, Roy Cooper, visit a Community Care Station where they engage with volunteers and DoD responding to Hurricane Helene.” class=”image-style-large”>

Asheville, NC (October 21, 2024) – FEMA Administrator, Deanne Criswell, and North Carolina Governor, Roy Cooper, visit a Community Care Station where they engage with volunteers and DoD responding to Hurricane Helene.

View Original’ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56717″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/72ea43eb5f2c751b8017625bacb6b3c4.jpg?itok=DlgyTlbz” alt=”Caption: Hendersonville, NC (Oct. 21, 2024) – FEMA Administrator, Deanne Crisswell, meets with survivors of Hurricane Helene as well as staff supporting recovery efforts at a Disaster Recovery Center.” class=”image-style-large”>

Hendersonville, NC (Oct. 21, 2024) – FEMA Administrator, Deanne Crisswell, meets with survivors of Hurricane Helene as well as staff supporting recovery efforts at a Disaster Recovery Center.

View Original’ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56673″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/4ba445c82ee4600a324abec797464634.jpg?itok=evYDlfmN” alt=”Caption: Henderson County, N.C. (Oct. 20, 2024) – A FEMA Disaster Recovery Center is open in Henderson County to help survivors of Hurricane Helene.” class=”image-style-large”>

Henderson County, N.C. (Oct. 20, 2024) – A FEMA Disaster Recovery Center is open in Henderson County to help survivors of Hurricane Helene.

View Original’ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56644″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/87d6851fbd578890475cd1f006042951.jpg?itok=Lf-wvhTn” alt=”Caption: Chimney Rock, N.C. (Oct. 18, 2024) – U.S. Army Soldiers of the 325th Airborne Infantry Regiment remove debris from the riverside of Chimney Rock, N.C. on Friday, October 18, 2024. FEMA photo by Madeleine Cook” class=”image-style-large”>

Chimney Rock, N.C. (Oct. 18, 2024) – U.S. Army Soldiers of the 325th Airborne Infantry Regiment remove debris from the riverside of Chimney Rock, N.C. on Friday, October 18, 2024. FEMA photo by Madeleine Cook

GRANITEVILLE, South Carolina — Survivors visit a Disaster Recovery Center to learn and apply for disaster assistance to recover from Hurricane Helene. (Photo Credit: FEMA)

PALMETTO, Florida – FEMA workers set up in a new Disaster Recovery Center in Manatee County. Survivors can meet with FEMA staff at centers to discuss their applications and available federal resources. Find your closest center at www.FEMA.gov/DRC. (Photo Credit: FEMA)

View Original’ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56656″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/b1f397baae1ec281f0d729e2ef2f78f8.jpg?itok=EWL_9iKb” alt=”Caption: Plant City, Fla. (Oct. 18, 2024) – A Florida Multiple Agency Resources Center has opened to assist Hurricanes Helene and Milton survivors with essential needs, including taking FEMA applications.” class=”image-style-large”>

Plant City, Fla. (Oct. 18, 2024) – A Florida Multiple Agency Resources Center has opened to assist Hurricanes Helene and Milton survivors with essential needs, including taking FEMA applications.

View Original’ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56648″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/248308d77a173777da4d7ca79290a2a4.jpg?itok=di_u_teT” alt=”Caption: Charlotte County, Fla. (Oct. 17, 2024) – FEMA Disaster Survivor Assistance teams canvass the area to help those after Hurricane Milton.” class=”image-style-large”>

Charlotte County, Fla. (Oct. 17, 2024) – FEMA Disaster Survivor Assistance teams canvass the area to help those after Hurricane Milton.

MARTIN COUNTY, Florida- FEMA Disaster Survivors Assistance team members and Martin County emergency management canvas Martin County, Florida, to register and assist disaster survivors after Hurricane Milton. (Photo credit: FEMA)

View Original’ data-align=”center” data-asset-link=”1″ data-entity-type=”emerald” data-image-style=”large” data-asset-type=”imageasset” data-asset-id=”56695″ src=”https://www.fema.gov/sites/default/files/styles/large/public/externals/dca0cc6832d311bc4c47dce5552b03a6.jpg?itok=2VxOWtN1″ alt=”Caption: Statesboro, Ga. (Oct. 12, 2024) – Volunteers from a disaster relief group clear debris from Hurricane Helene.” class=”image-style-large”>

Statesboro, Ga. (Oct. 12, 2024) – Volunteers from a disaster relief group clear debris from Hurricane Helene.

FEMA’s Disaster Recovery Toolkit provides graphics, social media copy and sample text in multiple languages. In addition, FEMA has set up a rumor response web page to reduce confusion about its role in the Helene and Milton response and recovery.
amy.ashbridge
Tue, 10/22/2024 – 22:50

MIL OSI USA News –

January 24, 2025
MIL-OSI New Zealand: Business and Tech – Connecting Kiwi cleantech ventures with global opportunities

Source: Callaghan Innovation

23 October 2024 – Fourteen ambitious Kiwi cleantech startups will soon chase global investment and partnership opportunities as part of the 2024 Cleantech Trek to the USA and Europe.

Estimated to be worth more than NZD$1 trillion annually by 2030, the global cleantech market is growing rapidly due to investment in clean energy technologies like solar and wind, and growing consumer demand for more sustainably produced materials.

The 2024 Cleantech Trek is a New Zealand Cleantech Mission initiative to support innovative Kiwi startups to access the multi-billion-dollar global cleantech market.

Participating companies will attend key industry events to pitch to investors, meet multinationals and make connections as they seek to participate in this market.

A highlight of the trip will be a visit to leading global steelmaker ArcelorMittal’s commercial flagship carbon capture and utilisation facility in Ghent, Belgium.

The commercial-scale facility uses Lanzatech’s carbon capture process to capture carbon-rich waste gases from steelmaking and convert these into advanced ethanol.

Nasdaq listed Lanzatech began as a cleantech startup based in Auckland. “As Lanzatech has shown, we have the world-class science and engineering expertise, and vision, to develop cleantech solutions that can make a global impact,” says New Zealand Cleantech Mission Lead, Callaghan Innovation’s Phil Anderson.

Because cleantech solutions are addressing the most difficult to solve environmental and sustainability challenges, their commercialisation typically requires more capital, stronger networks, and a longer path to market than is the case in most other sectors.

“To succeed, Kiwi cleantech startups need to build long-term relationships with multi-nationals and investors to develop and commercialise their solutions on a global scale,” says Phil Anderson.

The 2024 Cleantech Trek will begin in the USA in late October, and head to Europe, where three participating startups will be recognised on US-based Cleantech Group’s 2024 50 to Watch list, in Paris, at the 2024 Cleantech Forum Europe in early November.

Cetogenix, Mushroom Material, and Nilo will be recognised on the Cleantech Group’s 2024 50 to Watch list of the top cleantech ventures globally in the early stages of commercialising solutions to global environmental problems and climate change.

“Having three Kiwi cleantech startups on this influential list shows that the world is beginning to see just how much potential Kiwi cleantech startups have to offer,” says Phil Anderson.

“This country is such a small player it’s really important that we work together when it comes to getting in front of potential investors and partners overseas.

“That’s why I’m thrilled this year that the Cleantech Trek will be supported by NZTE, Are Ake, Auckland Unlimited and ASB Bank, who have come on board as our Europe leg sponsor, as well as our Verge stand partner Climate Salad,” he says.

About Callaghan Innovation

Callaghan Innovation is New Zealand’s innovation agency. It activates innovation and helps businesses grow faster for a better New Zealand. The government agency partners with ambitious businesses of all sizes, delivering a range of innovation and research and development (R&D) services to suit each stage of their growth. Its staff – including more than 150 of New Zealand’s leading scientists and engineers – empower innovators by connecting people, opportunities and networks, and providing tailored technical solutions, skills and capability development programmes, and grants co-funding. Callaghan Innovation also enhances the operation of New Zealand’s innovation ecosystem, working closely with MBIE, NZTE, NZVIF, Crown Research Institutes, and other organisations that help increase business investment in R&D and innovation. The agency operates from five urban offices and a regional partner network in a further 12 locations across Aotearoa.

MIL OSI New Zealand News –

January 24, 2025

MIL-OSI: Pulse Seismic Inc. Reports Q3 2024 Results and Approves Regular Quarterly Dividend

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, Oct. 22, 2024 (GLOBE NEWSWIRE) — Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) is pleased to report its financial and operating results for the three and nine months ended September 30, 2024. The unaudited condensed consolidated interim financial statements, accompanying notes and MD&A are being filed on SEDAR (http://www.sedar.com) and will be available on Pulse’s website at http://www.pulseseismic.com.

Today, Pulse’s Board of Directors approved a regular quarterly dividend of $0.015 per common share. The total dividend will be approximately $764,000 based on Pulse’s 50,904,663 common shares outstanding as of October 22, 2024, and will be paid on November 28, 2024, to shareholders of record on November 14, 2024. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pulse’s dividends are subject to Canadian withholding tax.

“While Pulse’s third quarter sales were not as robust as in 2023, it is common in our business to have significant variances between quarterly and annual results, which is why we focus on keeping costs low and maintaining a strong balance sheet,” stated Neal Coleman, Pulse’s President and CEO. “Already in October, we have completed another $2.7 million in sales, bringing year to date total revenue to $20.5 million,” Coleman continued. “We have consistently generated positive quarterly free cashflow and remain committed to providing a significant return of capital to shareholders. Pulse has declared $0.10875 per share in dividends up to today and bought back nearly 1.7 million shares under the NCIB in the first three quarters of the year. Total capital returned to shareholders is approximately 92% of the shareholder free cashflow generated as of September 30, 2024,” he concluded.

HIGHLIGHTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024

A regular quarterly dividend of $0.015 per share and a special dividend of $0.05 per share were declared and paid in the third quarter. For the nine-month period, regular quarterly dividends totalled $0.04375 per share. Regular and special dividends declared and paid in the first three quarters of 2024 totalled $4.8 million;
In the nine-month period ended September 30, 2024, Pulse purchased and cancelled, through its normal course issuer bid, 3.2% of the shares outstanding at December 31, 2023, for a total of 1,686,300 common shares at a total cost of approximately $3.7 million (at an average cost of $2.17 per common share including commissions);
At September 30, 2024, Pulse was debt-free and held cash of $7.5 million;
Shareholder free cash flow^(a) was $1.1 million ($0.02 per share basic and diluted) for the third quarter of 2024 compared to $2.8 million ($0.05 per share basic and diluted) for the comparable period in 2023. Shareholder free cash flow was $10.0 million ($0.19 per share basic and diluted) for the nine months ended September 30, 2024, compared to $13.9 million ($0.26 per share basic and diluted) for the nine months ended September 30, 2023;
EBITDA^(a) was $1.1 million ($0.02 per share basic and diluted) for the three months ended September 30, 2024, compared to $3.3 million ($0.06 per share basic and diluted) for the three months ended September 30, 2023. EBITDA was $11.7 million ($0.23 per share basic and diluted) for the nine months ended September 30, 2024, compared to $16.8 million ($0.32 per share basic and diluted) for the nine months ended September 30, 2023;
For the three months ended September 30, 2024, there was a net loss of $1.4 million ($0.03 per share basic and diluted) compared to net earnings of $393,000 ($0.01 per share basic and diluted) for the three months ended September 30, 2023. Net earnings for the nine months ended September 30, 2024, was $2.6 million ($0.05 per share basic and diluted) compared to net earnings of $6.7 million ($0.13 per share basic and diluted) for the nine months ended September 30, 2023; and
Total revenue was $2.7 million for the three months ended September 30, 2024, compared to $5.1 million for the three months ended September 30, 2023. For the nine months ended September 30, 2024, total revenue was $17.8 million compared to $22.3 million for the nine months ended September 30, 2023.


SELECTED FINANCIAL AND OPERATING INFORMATION


(Thousands of dollars except per share data,	Three months ended September 30,		Nine months ended September 30,		Year ended
numbers of shares and kilometres of seismic data)	2024	2023	2024	2023	December 31,
	(Unaudited)		(Unaudited)		2023
Revenue
Data library sales	2,726	5,103	17,803	22,266	39,127

Amortization of seismic data library	2,278	2,273	6,827	6,833	9,103
Net earnings (loss)	(1,405)	393	2,617	6,700	15,007
Per share basic and diluted	(0.03)	0.01	0.05	0.13	0.28
Cash provided by operating activities	2,665	10,564	11,860	16,524	23,524
Per share basic and diluted	0.05	0.20	0.23	0.31	0.44
EBITDA ^(a)	1,064	3,289	11,711	16,839	30,431
Per share basic and diluted ^(a)	0.02	0.06	0.23	0.32	0.57
Shareholder free cash flow ^(a)	1,061	2,793	9,968	13,883	24,829
Per share basic and diluted ^(a)	0.02	0.05	0.19	0.26	0.47

Capital expenditures
Seismic data	–	–	225	–	–
Property and equipment	45	14	45	28	28
Total capital expenditures	45	14	270	28	28

Dividends
Regular dividends	766	731	2,255	2,138	2,862
Special dividends	2,548	7,992	2,548	7,992	18,519
Total dividends	3,314	8,723	4,803	10,130	21,381

Normal course issuer bid
Number of shares purchased and cancelled	519,500	853,158	1,686,300	945,506	1,005,006
Cost of shares purchased and cancelled	1,245	1,670	3,653	1,830	1,943

Weighted average shares outstanding
Basic and diluted	51,071,111	53,135,041	51,640,483	53,436,340	53,237,569
Shares outstanding at period-end			50,935,563	52,681,363	52,621,863

Seismic library
2D in kilometres			829,207	829,207	829,207
3D in square kilometres			65,310	65,310	65,310

FINANCIAL POSITION AND RATIO
			September 30,	September 30,	December 31,
(Thousands of dollars except ratio)			2024	2023	2023
Working capital			7,460	7,820	7,468
Working capital ratio			3.8:1	2.3:1	1.5:1
Cash and cash equivalents			7,414	9,821	15,948
Total assets			22,374	34,727	41,249
Trailing 12-month (TTM) EBITDA ^(b)			25,303	17,306	30,431
Shareholders’ equity			19,351	28,225	25,655

^(a) The Company’s continuous disclosure documents provide discussion and analysis of “EBITDA”, “EBITDA per share”, “shareholder free cash flow” and “shareholder free cash flow per share”. These financial measures do not have standard definitions prescribed by IFRS and, therefore, may not be comparable to similar measures disclosed by other companies. The Company has included these non-GAAP financial measures because management, investors, analysts and others use them as measures of the Company’s financial performance. The Company’s definition of EBITDA is cash available to invest in growing the Company’s seismic data library, pay interest and principal on long-term debt when applicable, purchase its common shares, pay taxes and the payment of dividends. EBITDA is calculated as earnings (loss) from operations before interest, taxes, depreciation and amortization. EBITDA per share is defined as EBITDA divided by the weighted average number of shares outstanding for the period. The Company believes EBITDA assists investors in comparing Pulse’s results on a consistent basis without regard to non-cash items, such as depreciation and amortization, which can vary significantly depending on accounting methods or non-operating factors such as historical cost. Shareholder free cash flow further refines the calculation by adding back non-cash expenses and deducting net financing costs and current income tax expense from EBITDA. Shareholder free cash flow per share is defined as shareholder free cash flow divided by the weighted average number of shares outstanding for the period.
^(b) TTM EBITDA is defined as the sum of EBITDA generated over the previous 12 months and is used to provide a comparable annualized measure.
These non-GAAP financial measures are defined, calculated and reconciled to the nearest GAAP financial measures in the Management’s Discussion and Analysis.

OUTLOOK

So far in 2024, there have been a variety of factors influencing industry conditions which impact Pulse’s revenue generation. While land sales in Alberta at September 30, 2024 were approximately $300 million, down slightly from the $318 million for the same period in 2023, they remain significantly higher than in recent years going back to 2014. There are several notable infrastructure improvements which will lead to increased offtake capacity for Canadian oil and gas, such as the recent completion of the TMX pipeline expansion and the 2025 forecast completion of LNG Canada’s natural gas export facility. 2024 has also brought improvements in oil prices and an expectation by some for increasing natural gas prices in 2025. These positives, are offset by the factors that create uncertainty for the future, including economic, political, and environmental concerns. Pulse, as always, has low visibility regarding future seismic data library sales levels, regardless of industry conditions. The Company remains focused on business practices that have served throughout the full range of conditions. The Company maintains a strong balance sheet, has zero debt, no capital spending commitments, and a disciplined and rigorous approach to evaluating growth opportunities. This 15-person company, led by an experienced and capable management team, operates with a low-cost structure and focuses on developing excellent client relations as well providing exceptional customer service. Pulse’s strong financial position, high leverage to increased revenue in its EBITDA margin and careful management of its cash resources have resulted in the return of capital to shareholders through regular and special dividends and the repurchase of its shares.

CORPORATE PROFILE

Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the largest licensable seismic data library in Canada, currently consisting of approximately 65,310 square kilometres of 3D seismic and 829,207 kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin, where most of Canada’s oil and natural gas exploration and development occur.

For further information, please contact:
Neal Coleman, President and CEO
Or
Pamela Wicks, Vice President Finance and CFO
Tel.: 403-237-5559
Toll-free: 1-877-460-5559
E-mail: info@pulseseismic.com.
Please visit our website at http://www.pulseseismic.com

This document contains information that constitutes “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities legislation. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “forecast”, “target”, “project”, “guidance”, “may”, “will”, “should”, “could”, “estimate”, “predict” or similar words suggesting future outcomes or language suggesting an outlook.

The Outlook section herein contain forward-looking information which includes, but is not limited to, statements regarding:

>		The outlook of the Company for the year ahead, including future operating costs and expected revenues;
>		Recent events on the political, economic, regulatory, public health and legal fronts affecting the industry’s medium- to longer-term prospects, including progression and completion of contemplated pipeline projects;
>		The Company’s capital resources and sufficiency thereof to finance future operations, meet its obligations associated with financial liabilities and carry out the necessary capital expenditures through 2024;
>		Pulse’s capital allocation strategy;
>		Pulse’s dividend policy;
>		Oil and natural gas prices and forecast trends;
>		Oil and natural gas drilling activity and land sales activity;
>		Oil and natural gas company capital budgets;
>		Future demand for seismic data;
>		Future seismic data sales;
>		Pulse’s business and growth strategy; and
>		Other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results and performance, as they relate to the Company or to the oil and natural gas industry as a whole.

By its very nature, forward-looking information involves inherent risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking statements will not be achieved. Pulse does not publish specific financial goals or otherwise provide guidance, due to the inherently poor visibility of seismic revenue. The Company cautions readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking information. These factors include, but are not limited to:

>		Uncertainty of the timing and volume of data sales;
>		Volatility of oil and natural gas prices;
>		Risks associated with the oil and natural gas industry in general;
>		The Company’s ability to access external sources of debt and equity capital;
>		Credit, liquidity and commodity price risks;
>		The demand for seismic data and;
>		The pricing of data library licence sales;
>		Cybersecurity;
>		Relicensing (change-of-control) fees and partner copy sales;
>		Environmental, health and safety risks;
>		Federal and provincial government laws and regulations, including those pertaining to taxation, royalty rates, environmental protection, public health and safety;
>		Competition;
>		Dependence on key management, operations and marketing personnel;
>		The loss of seismic data;
>		Protection of intellectual property rights;
>		The introduction of new products; and
>		Climate change.

Pulse cautions that the foregoing list of factors that may affect future results is not exhaustive. Additional information on these risks and other factors which could affect the Company’s operations and financial results is included under “Risk Factors” in the Company’s most recent annual information form, and in the Company’s most recent audited annual financial statements, most recent MD&A, management information circular, quarterly reports, material change reports and news releases. Copies of the Company’s public filings are available on SEDAR at www.sedar.com.

When relying on forward-looking information to make decisions with respect to Pulse, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Furthermore, the forward-looking information contained in this document is provided as of the date of this document and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, except as required by law. The forward-looking information in this document is provided for the limited purpose of enabling current and potential investors to evaluate an investment in Pulse. Readers are cautioned that such forward-looking information may not be appropriate, and should not be used, for other purposes.

PDF available: http://ml.globenewswire.com/Resource/Download/684389a6-5b96-4478-ba47-39eb0d1160a8

The MIL Network –

January 24, 2025

MIL-Evening Report: Apia Ocean Declaration to be ‘crown jewel’ of CHOGM climate ‘fight back’

By Sialai Sarafina Sanerivi in Apia

The Ocean Declaration that will be agreed upon at the Commonwealth Heads of Government Meeting (CHOGM) this week will be known as the Apia Ocean Declaration.

In an exclusive interview with the Samoa Observer, Commonwealth Secretary-General Patricia Scotland said members were in a unique position to bring their voices together for the oceans, which have long been neglected.

“The Apia Ocean Declaration aims to address the rising threats to our ocean faces, especially from climate change and rising sea levels,” she said.

[embedded content]
Commonwealth pushes for ocean protection with historic Apia Ocean Declaration. Video: Samoa Observer

Scotland, reflecting on her tenure as Secretary-General, noted the privilege of serving the Commonwealth, a diverse family of 56 countries comprising 2.7 billion people.

“I am very much the child of the Commonwealth. With 60 percent of our population under 30 years, we must prioritise their future.”

Scotland reflected that upon assuming her role, she recognised immediately that addressing climate change would be a key priority for the Commonwealth.

“Why? Because we have 33 small states, 25 small island states and we were the ones who were really suffering this badly,” she said.

Pacific a ‘big blue ocean state’
“We also knew in 2016 that nobody was looking at the oceans. Now, the Pacific is a big blue ocean state.

“But it’s one of the most under-resourced elements that we have. And yet, look at what was happening. The hurricanes and the cyclones were getting bigger and bigger.

“Why? Because our ocean had absorbed so much of the heat, so much of the carbon, and now it was starting to become saturated. So before, our ocean acted as a coolant. The cyclone would come, the hurricane would come, they’d pass over our cool blue water, and the heat would be drawn out.”

The Apia Ocean Declaration emerged from a pressing need to protect the oceans, especially given the devastating impact of climate change on coastal and island nations.

“We realised that while many discussions were happening globally, the oceans were often overlooked,” Scotland remarked.

“In 2016, we recognised the necessity for collective action. Our oceans absorb much of the carbon and heat, leading to increasingly severe hurricanes and cyclones.”

Scotland has spearheaded initiatives that brought together oceanographers, climatologists, and various stakeholders.

Commonwealth Secretary-General Patricia Scotland . . . discussing this week’s planned Apia Ocean Declaration at CHOGM, highlighting the urgent need for global action to protect oceans. Image: Junior S. Ami/Samoa Observer

Worked in silos ‘for too long’
“We worked in silos for too long. It was time to unite our efforts for the ocean’s health.

“That’s when we realised that nobody had their eye on our oceans, but of the 56 Commonwealth members, many of us are island states, so our whole life is dependent on our ocean. And so that’s when the fight back happened.”

This collaboration resulted in the establishment of the Commonwealth Blue Charter, a significant framework focused on ocean conservation.

“Fiji’s presidency at the UN Oceans Conference was a turning point. Critics said it would take years to establish an ocean instrument, but we achieved it in less than ten months.”

“We are not just talking; we are implementing solutions.”

Scotland also addressed the financial challenges faced by many small island states, particularly regarding climate funding.

“In 2009, $100 billion was promised by those who had been primarily responsible for the climate crisis, to help those of us who contributed almost nothing to get over the hump.

Hard for finance applications
“But the money wasn’t coming. And in those days, many of our members found it so hard to put those applications together.”

To combat this issue, the Commonwealth established a Climate Finance Access Hub, facilitating over $365 million in funding for member states with another $500 million in the pipeline.

“But this has caused us to say we have to go further,” she added.

“We’re using geospatial data, we have to fill in the gaps for our members who don’t have the data, so we can look at what has happened in the past, what may happen in the future, and now we have AI to help us do the simulators.

“The Ocean Ministers’ Conference highlighted the importance of ensuring that countries at risk of disappearing under the waves can maintain their maritime jurisdiction,” Scotland asserted.

“The thing that we thought was so important is that those countries threatened with the rising of the sea, which could take away their whole island, don’t have certainty in terms of that jurisdiction. What will happen if our islands drop below the sea level?

“And we wanted our member states to be confident that if they had settled their marine boundaries, that jurisdiction would be set in perpetuity. Because that was the biggest guarantee; I may lose my land, but please don’t tell me I’m going to lose my ocean too.

Target an ocean declaration
“So that was the target for the Ocean Ministers’ Conference. And out of that came the idea that we would have an ocean declaration.

“It is that ocean declaration that we are bringing here to Samoa. And the whole poignancy of that is Samoa is the first small island state in the Pacific ever to host CHOGM. So wouldn’t it be beautiful if out of this big blue ocean state, this wonderful Pacific state, we could get an ocean declaration which could in the future be able to be known as the Apia Ocean Declaration? Because we would really mark what we’re doing here.

“What the Commonwealth has been determined to do throughout this whole period is not just talk, but take positive action to help our members not only just to survive, but to thrive.

“And if, which I hope we will, we get an agreement from our 56 states on this ocean declaration, it enables us to put the evidence before everyone, not only to secure what we need, but then to say 0.05 percent of the money is not enough to save our oceans.

“Oceans are the most underfunded area.

“I hope that all the work we’ve done on the Universal Vulnerability Index, on the nature of the vulnerability for our members, will be able to justify proper money, proper resources being put in.

“And you know what’s happening in this area; our fishermen are under threat.

“Our ability to use the oceans in the way we’ve used for millennia to feed our people, support our people, is really under threat. So this CHOGM is our fight back.”

As the meeting progresses, the emphasis remains on achieving consensus among the 56 member states regarding the Apia Ocean Declaration.

Republished from the Samoa Observer with permission.

MIL OSI Analysis – EveningReport.nz –

January 24, 2025
MIL-Evening Report: Let’s tax carbon: Ross Garnaut on why the time is right for a second shot at carbon pricing

Source: The Conversation (Au and NZ) – By Ross Garnaut, Professorial Research Fellow in Economics, The University of Melbourne

Damitha Jayawardena/Shutterstock

Australia now has a government and parliament wanting timely transition to net zero. We have a government and parliament wanting to build Australia as the renewable energy superpower of the zero-carbon world economy. For the time being, we have favourable international settings for using our opportunity.

The government of Australia has embraced this superpower narrative, taken some big steps towards supporting its emergence, and articulated sound principles for guiding further policy development.

But Australians in business and the community wanting to make large efforts to turn opportunity into reality find themselves in a tangle of policy uncertainty and contradiction.

The source of the problem is the abolition of carbon pricing in 2014. Since then, the Commonwealth government has worked within constraints that rule out success.

We can make a start towards net zero and becoming a renewable energy superpower without moving the constraints, but we can’t get far. This is a problem for any government of Australia, and not only for the current Labor government. We will not rise sustainably out of the post-pandemic dog days until we get energy policy right.

Striking the right balance

Striking the right balance between state intervention and market exchange is always essential for successful economic development, in all places.

The market generally delivers goods and services more cost-effectively than the state where there is genuine competition among suppliers and purchasers of goods and services.

The difference is especially large and important at a time of structural change and uncertainty. State decisions inevitably tend towards continuation on established paths and slow response to new opportunities.

Australia will not make use of more than a small fraction of the superpower opportunities available to it without immense contributions from an innovative, competitive private business sector.

So we have to design energy and related markets that provide the widest possible scope for competition among enterprises within clear rules understood in advance of investment decisions by all market participants.

The state has to do well the things that only the state can do. Because government capacity is a finite resource, it is much more likely that it will do the essential things well if it doesn’t try to do the things that markets do well.

The state must define the boundaries between the services that it delivers and those to be delivered by the market.

In the electricity sector, government must take responsibility for design of the market rules and compliance with them. It must provide the natural monopoly services of electricity transmission and hydrogen transportation and storage. It must take ultimate responsibility for system security and reliability.

For any market to work, individual market participants must be blocked by regulation from damaging others through their business decisions, or subject to a tax equal to the costs they impose on others. And they must be rewarded for large benefits that they confer on others.

This is essential economics. Its understatement in Productivity Commission and financial media commentary on energy and climate policy discussion over the past decade reveals the debasement of Australian political culture that gave us the dog days.

It has been politically incorrect to tell the truth out loud.

It’s time for carbon pricing

A crucial element of post-2030 market design is introduction of a green premium for zero-carbon energy.

It is obviously necessary for low-cost decarbonisation and expansion of the electricity sector and building Australia as a renewable energy superpower. The green premium is crucial for securing international market access for the zero-carbon export industries.

One of the dog days constraints on policy is that there should be no mandatory demands on private investors. Those constraints must be broken for the green premium to reflect the social cost of carbon, as it must if we are to achieve net zero by 2050 and build Australia as the renewable energy superpower.

The economically efficient way of achieving the premium is carbon pricing. It would be most efficient within an economy-wide system, although it could be introduced initially for the electricity sector and extended to other industries later.

Investors now need to know soon that there will be a premium reasonably related to the social cost of carbon after the Renewable Energy Target ends in 2030.

What matters for the superpower industries is the green premiums for which they are eligible in other countries. Pending the emergence of appropriate premiums, the Commonwealth is proposing payments from the budget.

That is appropriate. It can get the early movers started. It would be expensive if it continued for long. The superpower industries will grow rapidly if they have access to premiums corresponding to the social cost of carbon. Over time, payments from the Australian budget will be replaced by market premiums in destination countries.

There are several possible forms of carbon pricing. The system operating in Australia from 2012 to 2014 was economically and environmentally efficient.

It would have been linked to the EU Emissions Trading System from July 1 2014 if it had not been abolished the day before. The Australian carbon price would be equal to the European price. We would be introducing a European-type Carbon Border Adjustment Mechanism to ensure that Australian producers were not disadvantaged by competition in the domestic market from suppliers who were not subject to similar carbon constraints. The ETS (emissions trading scheme) would be contributing around 2% of GDP to public revenues – going a substantial part of the way to answering the daunting budget challenge to restoration of Australian prosperity.

Part of that increased revenue could support payments to power users to ensure there was no increase in power prices to users until expansion of renewable generation and storage had brought costs down – along the lines of the A$300 per household introduced in the 2024 budget, but larger.

The arrangements would provide automatic access for zero-carbon Australian goods to the high-priced European market. There would be no need to provide for a green premium for sales to Europe from the Australian market. The green premiums in other markets would at first need to be covered, as they are now, from the Australian public revenue.

A carbon solutions levy

Rod Sims (former chair of the Australian Competition and Consumer Commission) and I have suggested a carbon solutions levy. It is administratively simpler than the ETS. It would initially raise much more revenue.

We propose exemption for coal and gas exports to countries in which Australian zero-carbon exports attract a premium comparable to the EU carbon price, even if it is not generated through an ETS.

We would hope that if the carbon solutions levy were to be introduced from 2030, our major trading partners would by that time have introduced green premiums that justify exemption from the levy for coal and gas exports to those countries.

The European Union would be exempt from the beginning. The Northeast Asian economies are moving towards eventual justification of exemption. China now has a country-wide emissions trading system.

The carbon price in July 2024 is about A$21 per tonne, having increased by 50% since early in the year. The price is expected to continue rising until it is playing a major role in transformation of Chinese industry.

Incidentally, China undertook to the United Nations Framework Convention on Climate Change that its emissions would peak by 2030, but its rapid expansion of renewable energy generation, electric vehicles and zero-carbon industrial technologies suggest that the peak may have come in 2023.

Japan is working on direct budgetary support for importers of zero-carbon products which could pass through into a premium for zero-carbon exports from Australia.

During a visit in April 2024, I was advised that the Japanese government is working towards issue of “green bonds” to pay for the premium. A carbon tax from 2035 would meet the cost of servicing and retiring the bonds.

Korea and Taiwan are introducing their own mechanisms for supporting premiums for zero-carbon imports.

One initial criticism of the carbon solutions levy is that it would cause leakage of Australian exports to competing suppliers of gas and coal. There would be some leakage, alongside substantial transfers from rents to the public revenues, and for metallurgical coal in particular, some increase in export prices.

The price increase would introduce an element of green premium for Australian green iron exports. The Superpower Institute (a non-profit research organisation founded by Sims and I) has commissioned the Centre of Policy Studies at Victoria University to quantify the extent of leakage, transfers from rent and higher export prices. The results will be available for public discussion early in 2025. The study will also calculate the effect of the levy on Australian public finances, real incomes and real consumption.

Regional considerations

Australia’s main competitor in regional coal markets is Indonesia. Its main competitors in gas markets are Papua New Guinea, East Timor, Indonesia, Brunei and the Middle East petroleum producers.

No informed person would suggest that there could be an economic problem with leakage to the Middle East: Saudi Arabia and the small Gulf states extract revenue from petroleum exports at much higher rates per dollar than Australia would after imposition of the levy.

There is a case in the Australian national interest for not seeing expansion of export sales from Papua New Guinea and East Timor as being entirely a waste.

But in their national interest and ours, I suggest that we seek to negotiate a four-way agreement on climate and energy with Indonesia, East Timor and Papua New Guinea.

We would all impose carbon solutions levy-type levies at similar rates. This would be a major source of revenue for all of us.

Participation of Indonesia removes leakage of coal exports. Indonesia already has an emissions trading scheme, although it generates a carbon price of only a few dollars per tonne.

It may choose to remove other imposts on fossil carbon exports at the time of introduction of new carbon-related measures – such as the requirement to make 35% of coal exports available at prices well below international prices for domestic power generation.

Participation of the four countries removes the leakage issue for gas. The four neighbours would cooperate in major development programs based on expansion of zero-carbon energy supply and goods production.

There is active discussion in Indonesia of archipelago-wide electricity transmission infrastructure to allow the superior renewable energy resources of the outer islands – Papua, Nusa Tenggara, Sulawesi, Kalimantan, Sumatra – to contribute to decarbonisation and growth of zero-carbon industry everywhere, including in the Java heartland.

The Indonesian grid would run close to neighbouring Australia, Papua New Guinea, East Timor, East and West Malaysia and the Philippines. It would be the geopolitically practical means of linking Australia and Singapore, as envisaged in the SunCable project in the Northern Territory.

The Indonesian national grid could link to the Australian Sungrid discussed in my book The Superpower Transformation in Darwin and the Pilbara.

The alternatives to carbon pricing are weak

The alternatives to economy-wide carbon pricing are likely to turn out to be short-lived expedients that lead sooner rather than later to the return of today’s incoherence and underperformance in energy and climate policy and performance.

The state must provide reliability of power supply to the general population.

The Commonwealth government can do this without distorting competitive electricity markets by establishing an energy reserve I have proposed in my book The Superpower Transformation.

The superpower industries depend on electricity and hydrogen markets operating efficiently and embodying carbon prices. Otherwise the market design issues relevant to their development are similar to those for electricity.

Negative carbon externalities need to be corrected by taxation or alternative carbon pricing mechanisms. Positive externalities from innovation should be rewarded.

Positive innovation externalities are important in the introduction of new industries, technologies and business models for the zero-carbon economy.

Economy-wide carbon pricing at the social cost of carbon is essential to getting the balance right between state intervention and market exchange.

Once it is in place with fiscal rewards for innovation, the government can let businesses decide which new industries and technologies warrant investment.

Once carbon pricing is known to be coming into place reasonably soon, there is no further need for government underwriting of investment in power generation.

There is no need to include a climate trigger in assessment of a project of any kind: if it emits carbon, it will pay for the climate damage it does.

There is no need for government to take a view on climate grounds about the merits of nuclear power generation. It is zero-emissions generation and, like renewable energy, not subject to the carbon price. If it can compete with other forms of generation, it will find a place in private investment decisions on the energy mix.

There is no need for government investment in nuclear power generation. Private investors will have the same incentives to invest in nuclear as in other zero-carbon generation technologies.

There will be no need for the government to take a view on incentives for carbon capture and storage. If it is effective and emissions are actually reduced, carbon payments will be correspondingly reduced.

The carbon price will allow private investors to get on with the job of expanding renewable energy supply at a rapid pace and decarbonising the economy more generally.

This is an edited extract from Ross Garnaut’s new book, Let’s Tax Carbon: And Other Ideas for a Better Australia.

Ross Garnaut is a Director and shareholder of Zen Energy. Together with Rod Sims, Ross is a co-founder and Director of The Superpower Institute, a not for profit think tank.

– ref. Let’s tax carbon: Ross Garnaut on why the time is right for a second shot at carbon pricing – https://theconversation.com/lets-tax-carbon-ross-garnaut-on-why-the-time-is-right-for-a-second-shot-at-carbon-pricing-241806

MIL OSI Analysis – EveningReport.nz –

January 24, 2025
MIL-OSI USA News: Remarks by President Biden on the Response to Hurricane Milton | St. Pete Beach, FL

Source: The White House

Residential Area
St. Pete Beach, Florida

11:34 A.M. EDT

THE PRESIDENT: Hello, folks.

I just met a number of the homeowners, been wiped out, and the — everything from the Coast Guard to the fire department. It’s a hell of a deal.

I’m here in Florida for the second time in two weeks and — to survey the damage from another catastrophic storm: Hurricane Milton. Thankfully, the storm’s impact was not as cataclysmic as had — we had predicted. But on top of two [one] before it, it just keeps s- — seem we got to get — getting worse.

And bu- — you know, but for some individuals, it was cataclysmic — all those folks who not only lost their homes but, more importantly, those folks who lost their lives, lost family members, lost all their personal belongings. Entire neighborhoods were flooded, and millions — millions were without power.

Earlier this morning, I did an aerial tour of Saint Petersburg and the battered coastline. I flew over Tropicana Field and — where the Tampa Bays play — Rays play, and the roof was almost completely off. But thank God not many people were injured.

I spoke with first responders who’ve been working around the clock. I also met with small-business owners here and homeowners who’ve taken a real beating — these back-to-back storms. And they’re heartbroken and exhausted, and their expenses are piling up.

And I know from experience how devastating it is to lose your home. Several years ago, my home was struck by lightning. It didn’t all burn down, but we were out of the home for seven months while it was being repaired. The thing I was most concerned about was not just the home; it was all those things, all those — all those pictures I saved, my — and my daughter had drawn when she was little, all the — all the family photographs, all the albums, all the things that really matter.

Folks, the — the fact is that when you lose your wedding ring and the old photos of your children, family keepsakes, things that can’t be replaced — but sometimes, from my own experience, that’s the part that hurts the most.

And I’m standing next to the mayor of Pete’s Beach and the Chairwoman Peters. Both their homes were damaged in Hurricane Milton. The mayor’s home flooded, family vehicles washed away. The county chair’s home had experienced significant damage in the past two storms previous. They just finished rebuilding and settling back in, and now they have to do it all over again.

Both their families lost precious personal belongings, but they’ve stepped up not only to look out for themselves but to help other families, help their neighbors. You know, that’s the resilience of the people of West Florida.

And I want to thank them and all the public officials who suffered consequential losses because of the storm but who are out there doing things to help other people who had serious losses. It matters. The American people should know the sacrifices they’re making.

You know, they’ve been steadfast partners as well. We’ve been in frequent contact.

And it’s in moments like this we come together to take care of each other, not as Democrats or Republicans but as Americans — Americans who need help and Americans who would help you if you were in the same situation. We are one United States — one Unites States.

I also came here to talk about all the progress we have made together. This is a whole-of-government effort, from state and local to FEMA to U.S. Coast Guard, Army Corps of Engineers, the Energy Department, Environmental Protection Agency, Department of Defense, just to name a few.

FEMA has delivered 1.2 million meals, over 300,000 liters of water, 2 million gallons of fuel. And so far, we’ve installed 100 satellite terminals to restore communications in impacted areas so families can ton- — contact their loved ones to be sure everything is okay and be able to reach out for help as well.

Speaking of help, so far, we’ve opened 10 disaster recovery centers in Florida, with more to come, so people can have one stop to meet with officials, get the federal help they’re entitled to that’s available to them, such as direct, immediate financial aid and no [low-]interest payment loans, mortgage relief, and so much more.

You can also go online to DisasterAssistance.gov — DisasterAssistance.gov — or call 1-800-621-FEMA — F-E-M-A.

Yesterday, after I signed the major disaster declaration, more than 250,000 Floridians registered for help — 250,000 — the most in sin- — any — a single day ever in the history of this country — 250,000.

I know you’re concerned about the debris removal, and it’s obvious why. We’re prioritizing debris removal and working with the state and local partners to clear roads, to get wreckage into — of the two hurricanes off properties, and so more folks can return home and businesses can receive much-needed deliveries of food, fuel, medicine, and other essentials. That’s a priority for me.

Power has also been restored to over 2 million people in a matter of days. And thanks to tens of thousands of power workers from 43 states and Canada working nonstop, even more people will have more power restored soon.

Today, I’m proud to announce $612 million to six new cutting-edge projects to support communities impacted by Hurricane Helene and Milton. That includes $47 million for Gainesville Regional Utilities and another $47 million for Florida Power & Light.

This funding will not only restore power, but it’ll make the region’s power system stronger and more capable and reduce the frequency and duration of power outages while extreme weather events become more frequent.

In fact, we’ve been able to restore power quicker because of critical infrastructure investments were made both when I was vice president and president to harden the grid. For folks at home, “the grid” means the electrical power system that transmits energy from the — where it’s produced in a power plant to where it’s used in homes and businesses.

We’ve been hardening the grid, like b- — like burying transmission lines underground, replacing wood power poles with concrete or composite poles so they don’t snap in the wind.

Energy Secretary Granholm is here with me today leading this effort, and she’ll tell you more about it and other cutting-edge technologies on the grid in a moment.

Let me close with this. I’m here to porsonally — personally say thank you to the brave first responders — and I don’t want to underestimate that — brave first responders, men and women in uniform, utility workers. (Inaudible) look at the number that showed up from around the country — from Canada — California, Nebraska, all over the country — to come here to help.

Men and women in uniform, as I said; health care personnel; neighbors helping neighbors; and so many more people. This is all a team effort, folks. You made a big difference. And it’s saved lives.

But there’s much more to do, and we’re going to do everything we can to get power back into your homes, not only helping you recover but to help you build back stronger.

God bless you all. And may God protect our first responders and protect our troops.

Now I’m going to turn this over to Secretary Granholm. Madam Secretary.

11:42 A.M. EDT

MIL OSI USA News –

January 24, 2025
MIL-OSI USA News: FACT SHEET: Biden-⁠ Harris Administration Continues Recovery Efforts in North Carolina Following Hurricane Helene

Source: The White House

Following Hurricane Helene’s devastating impacts across the Southeast and Appalachia, the Biden-Harris Administration continues its robust Federal efforts to help communities recover and rebuild. The storm heavily impacted North Carolina, where the Administration continues to surge resources and assist families, business owners, farmers, and other impacted communities receive the support and assistance they need and deserve.

Federal disaster assistance for Hurricane Helene survivors has surpassed $474 million – including more than $86 million in housing and other types of assistance for survivors in North Carolina. Survivors can register for assistance at one of three Disaster Recovery Centers in Caldwell, McDowell, and Buncombe Counties, or on disasterassistance.gov, by calling 1-800-621-3362, or via the FEMA app.

The Department of Defense continues to support search-and-rescue operations, route clearance, and commodities distribution across western North Carolina with 1,500 active-duty troops. The Department of Defense is also employing additional capabilities to assist with increasing situational awareness across the remote terrain of Western North Carolina. The Army Corps of Engineers continues missions supporting debris removal, temporary emergency power installation, infrastructure and water and wastewater assessments, and technical assistance. Over 2,000 North Carolina National Guard personnel along with over 200 Guardsmen from 15 States are conducting response operations in western North Carolina.

As response efforts continue in North Carolina, more than 1,250 FEMA staff remain on the ground, with more arriving daily. Nearly 400 Urban Search and Rescue personnel remain in the field helping people. These teams have rescued or supported over 3,200 survivors to date.

Power has been restored to more than approximately 96 percent of customers, as a result of 10,000 utility personnel working around the clock. Cellular restoration also continues to improve, with more than 93 percent of cellular sites in service. FEMA is boosting response coordination by providing 40 Starlink units to ensure first responders can communicate with each other.

Commodity distribution, mass feeding, and hydration operations continue in areas of western North Carolina. FEMA continues to send commodity shipments and voluntary organizations are supporting feeding operations with bulk food and water deliveries coming via truck and aircraft. Mobile feeding operations are reaching survivors in heavily impacted areas, including three mass feeding sites in Buncombe, McDowell and Watauga counties. The Salvation Army has 20 mobile feeding units supporting this massive operation and has provided emotional and spiritual care to survivors. To date, the American Red Cross is engaging in targeted distribution of emergency supplies in low-income communities with high levels of minor or affected residential damage.

Additional recovery efforts in North Carolina include:

Supporting Infrastructure Recovery

As part of the robust, whole-of-government response to Hurricane Helene, the U.S. Department of Transportation is supporting response and recovery efforts in impacted communities in North Carolina. DOT personnel are on the ground in multiple locations of the state.

On October 5, the Department of Transportation’s Federal Highway Administration (FHWA) announced $100 million in Quick Release Emergency Relief funding to support North Carolina. The funding helps pay for the costs of immediate emergency work resulting from Hurricane Helene flood damage. Additional funding will flow to affected communities from the Emergency Relief program.

FHWA worked closely with North Carolina and other federal agencies to assess infrastructure damage, including supporting hundreds of bridge inspections and other critical infrastructure assessments across the Southeast. On October 8, FHWA Acting Administrator Kristin White visited the region with Governor Roy Cooper, North Carolina Department of Transportation Secretary Joey Hopkins and other federal, state and local officials and got a first-hand look at impacts from the storm and recovery efforts.

The Federal Aviation Administration (FAA) continues to work with partners in affected parts of North Carolina and Tennessee, as the national airspace steadily returned to normal operations.

The FAA Air Traffic Organization Technical Operations Team is on-site and leading communications restoration efforts at air traffic facilities. FAA also supported the North Carolina Air National Guard by providing advisory services at Rutherford County Airport and Avery County Airport.

The FAA worked with state and local governments, critical infrastructure owners and operators, and first responders to enable drones to support response and recovery. The FAA granted permission to allow Wing to temporarily conduct beyond visual line of sight drone package deliveries for Walmart’s pharmacy in western North Carolina, delivering essential items including prescription medicine, medical supplies, and medical equipment to hard-to-reach locations.

Additionally, President Biden’s approval of a Presidential Emergency Declaration for North Carolina affords the state a period of emergency regulatory relief from Federal Motor Carrier Safety regulations, including flexibility around driving time for property- and passenger-carrying vehicles. This allows truck drivers to get essential supplies to affected areas in North Carolina. It may also provide opportunities for motorcoach buses to deliver relief teams to response locations and allow for the transport and evacuation of residents.

On October 10, Environmental Protection Agency (EPA) Administrator Michael Regan joined Governor Cooper, Senator Tillis, Congressman Edwards and local officials to assess federal and state recovery efforts in response to Hurricane Helene. EPA and its state partners have made significant progress bringing drinking water and wastewater systems back online, including restoring service to more than 75 drinking water systems that serve approximately 260,000 people in the Asheville area. EPA is also providing technical assistance and drinking water testing to systems and private drinking water well owners across the Asheville area through their Mobile Drinking Water lab – giving residents clear data and confidence that their water is safe to drink. The lab is capable of testing 100 samples per day. Water utilities and private well owners must request sampling services through their local health departments. EPA will remain on the ground in North Carolina helping area residents as long as their assistance is needed.

The Department of Energy’s Energy Response Organization remains activated to respond to storm impacts, and responders remain deployed to FEMA regional response coordination centers. Via the Electricity Sub-Sector Coordinating Council and Oil and Natural Gas Sub-Sector Coordinating Council, the Department of Energy has been coordinating continuously with energy sector partners on the ongoing Hurricane Helene response. As noted above, there are 10,000 line workers supporting power restoration efforts.

The National Oceanic and Atmospheric Administration continues to support post-disaster imagery flights following Hurricane Helene, already totaling over 68 flight hours during 20 flights, including over western North Carolina. This imagery not only supports FEMA and the broader response community, but the public at large.

Providing Financial Flexibilities to Homeowners and Taxpayers

The U.S. Department of Housing and Urban Development (HUD) is providing a 90-day moratorium on foreclosures of mortgages insured by the Federal Housing Administration (FHA) as well as foreclosures of mortgages to Native American borrowers guaranteed under the Section 184 Indian Home Loan Guarantee program. Additionally, affected homeowners that have mortgages through Government-Sponsored Enterprises – including Fannie Mae and Freddie Mac – and the FHA are eligible to suspend their mortgage payments through a forbearance plan for up to 12 months.

HUD announced $3 million for the State of North Carolina to support people experiencing homelessness in communities impacted by Hurricane Helene. Funding from the Rapid Unsheltered Survivor Housing program will help residents and families who are experiencing or at risk of homelessness and have needs that are not otherwise served or fully met by existing Federal disaster relief programs.

This summer, HUD launched a new streamlined process for requesting additional flexibility on existing grants after a disaster is declared. Recipients of annual HUD funding – including in North Carolina – may request waivers to unlock and accelerate the use of their funding for disaster response and recovery. With the updated waiver process, HUD is proactively issuing maximum flexibility to communities impacted by disasters. These flexibilities will expedite the recovery process, reduce administrative burden, and allow impacted jurisdictions to quickly tailor programs and activities to address the post disaster needs of their communities. The Disaster Assistance and Recovery Team within HUD’s Office of Housing Counseling continues to conduct focused meetings with housing counseling agencies in each state impacted by these disasters to discuss their unique response and recovery challenges and identify resources available to assist.

The Internal Revenue Service announced disaster tax relief for all individuals and businesses affected by Hurricane Helene in North Carolina. North Carolina taxpayers now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.

Protecting Public Health

The U.S. Department of Health and Human Services (HHS) declared a Public Health Emergency for North Carolina to address the health impacts of Hurricane Helene. HHS’s Administration for Strategic Preparedness and Response (ASPR) continues to provide medical support for Hurricane Helene, predominantly onsite in North Carolina. These ASPR personnel are deployed to support Hurricane Helene response operations, which include four Disaster Medical Assistance Teams and personnel from a Disaster Mortuary Operational Response Team (DMORT) in North Carolina. ASPR Health and Medical Task Forces and ASPR Disaster Medical Assistance Teams from the National Disaster Medical System are providing 24-hour surge support to three hospitals: Mission Hospital in Asheville, Blue Ridge Regional Hospital in Spruce Pine, and Caldwell Memorial in Lenoir. To date, ASPR teams have seen nearly 1000 patients. ASPR will continue to work with federal, state, and local partners to prioritize medical assistance to other areas affected by Hurricane Helene as required and requested.

Supporting Workers and Worker Safety

Working alongside the Department of Labor, the States of North Carolina has announced that eligible workers can receive federal Disaster Unemployment Assistance to compensate for income lost directly resulting from Hurricane Helene. And, through the Department of Labor’s innovative partnership with the U.S. Postal Service, displaced workers in North Carolina can now go to the post office in any other state and verify their ID for purposes of getting their benefits quickly.

Supporting Farmers and Agriculture

The U.S. Department of Agriculture (USDA) has put contingency plans and program flexibilities into place to ensure farmers, foresters and communities are able to get the support they need, such as by extending program signup opportunities, expediting crop insurance payments, and using waivers and emergency procedures to expedite recovery efforts on working lands. USDA’s Food and Nutrition Service has issued flexibilities and waivers for North Carolina to ensure that food and nutritional assistance reaches those in need as soon as possible. In North Carolina, waivers have been issued to increase access to WIC products, replace benefits through Summer EBT, allow the purchase of hot foods through SNAP, and more.

Additionally, USDA is currently coordinating over 200 staff on the ground in North Carolina, including saw support teams and emergency road clearance teams, to help clear trees and debris, including in Waterville, Marion, Newton, and Weaverville.

Supporting Students and Student Loan Borrowers

The Department of Education has offered technical assistance to states and local educational agencies to support recovery efforts and shared critical resources, including those developed by other federal agencies and organizations, to support restoring the teaching and learning environment.

The Department’s office of Federal Student Aid (FSA) has flexibilities that are automatically available to affected institutions of higher education to help their continued management of the federal student aid programs. These flexibilities help schools if they need to adjust their academic calendars, such as due to unexpected closures, and also help students who may need to take a leave of absence. The flexibilities also help students avoid reductions in their federal aid due to any state or federal disaster assistance provided. FSA will also work with affected institutions that need help on other areas, such as paying credit balances. FSA has communicated with schools located in the areas impacted by Hurricane Helene. Those communications included existing Department guidance about how natural disasters impact schools and their administration of financial aid, resources, and links to FEMA disaster aid information. FSA’s communications also included a way for schools to share more information about the disaster impact on their campus and submit questions about administrative relief and flexibilities.

The Department is ensuring affected borrowers in areas impacted by the hurricanes can focus on their critical needs without needing to worry about missing their student loan payments. Direct Loan borrowers and federally-serviced FFEL borrowers in the affected area who miss their payments will be automatically placed into a natural disaster forbearance. During forbearance, payments are temporarily postponed or reduced, and interest is still charged. Thanks to regulations issued by the Biden-Harris Administration, months in this forbearance will count toward PSLF and IDR forgiveness. Direct Loan and federally serviced FEEL borrowers are not required to take an action but have the option to call their servicer if they wish to enroll in the forbearance proactively. Perkins loan borrowers should contact their loan holder to request natural disaster forbearance. 

Continuing to Survey Data

The Department of the Interior’s U.S. Geological Survey (USGS) continues working to measure river levels and flow, and repair streamgages that transmit critical data. USGS crews continue working to determine the extent of flooding by surveying for high-water marks. These flood-peak data and high-water marks are used to determine flood frequency and are critical in the design of infrastructure and in determining flood plain boundaries. USGS stood up a landslide response team that now includes 32 USGS scientists, 19 of which ware mapping landslides, to provide technical assistance to the North Carolina Geological Survey and Tennessee Geological Survey. Their work includes reconnaissance using satellite imagery, flights, and on-the-ground assessments to map landslides.

###

MIL OSI USA News –

January 24, 2025
MIL-OSI USA News: Press Gaggle by Press Secretary Karine Jean-Pierre and National Security Advisor Jake Sullivan En Route Berlin, Germany

Source: The White House

2:15 P.M. EDT

MS. JEAN-PIERRE: Okay. So, I’m just going to get straight to it.

As you can see, I have the national security advisor, Jake Sullivan, here to talk to us about the trip but also the latest in the Middle East.

Jake, the floor is yours.

MR. SULLIVAN: So, I don’t know if you guys have heard because of the lack of Wi-Fi back here, but the IDF has confirmed the death of Yahya Sinwar, the Hamas leader, and I’ll come to that in just a moment.

But let me start by laying out what we hope to achieve over the course of the next 24 hours in Berlin. This is the president’s first visit to Berlin as president, and he did not want his time in office to go by without going to the capital of one of — one of our most important partners and allies.

Germany is a core Ally in NATO, a core partner in the G7. They’ve been a core player in the Allied response to Russia’s brutal invasion of Ukraine. And the president is looking forward to having the opportunity to talk to the chancellor and other German officials about where we go from here in Ukraine; about developments in the Middle East, in Iran, Lebanon, Gaza, Israel; about how we align our respective approaches on the PRC; about how we align our industrial and innovation strategies; about artificial intelligence and the clean energy transition.

He will also have the opportunity to meet with the prime minister of the UK and president of France. The four leaders — Germany, France, UK, U.S. — will sit together to particularly focus on two issues.

One, the war in Ukraine and the pathway ahead, particularly in light of the fact that they’ve all had the opportunity to engage in person with President Zelenskyy over the course of the last few weeks and heard from him about where he sees things going. So, this is an opportunity to consult on that.

And then, second, to talk about the ongoing and fast-moving developments across the Middle East region.

The president will see President Steinmeier. He’ll spend one-on-one time with Chancellor Scholz. He’ll spend time with his delegation — with Chancellor Scholz and his delegation.

And then, of course, there’ll be this meeting among the four leaders in the afternoon, and there’ll be an opportunity for press statements with the chancellor and the president.

So, that’s the plan for tomorrow.

Of course, this comes against the backdrop of a pretty significant — very significant day in the Middle East, and that is that Yahya Sinwar has been taken off the battlefield. This is a murderous terrorist responsible for the worst massacre of Jews since the Holocaust. He has a lot of blood on his hands — Israeli blood, American blood, Palestinian blood — and the world is better now that he’s gone.

President Biden has just put out a written statement sharing his thoughts and reactions to the death of Sinwar, and he looks forward to the opportunity soon, perhaps very shortly, to speak to Prime Minister Netanyahu to congratulate the IDF and the brave Israeli soldiers and security professionals who carried out the operation that killed Sinwar but also to talk about the way forward, because Sinwar was a massive obstacle to peace and the day after in Gaza. And now that that obstacle has been removed, President Biden looks forward to talking to Prime Minister Netanyahu about how we secure the return of the hostages, an end to the war, and a move to the day after in Gaza — a Gaza where Hamas is no longer in power or control.

So they’ll have the opportunity to have an initial conversation about that, but this truly is an opportunity we need to seize together to bring about a better day for the people of Gaza, the people of Israel, the people of the whole region. And the United States is committed to doing everything in our power to help contribute to that.

Last thing I will say is that from shortly after October 7th, President Biden dispatched special operations personnel and intelligence professionals to Israel to work side by side with their Israeli counterparts in the hunt for Hamas leaders, including Sinwar, and it was with American intelligence help that many of these leaders, including Sinwar, were hunted and tracked, were flushed out of their hiding places, and put on the run. And, ultimately, this is a credit to the IDF for taking out Sinwar over the course of the last hours and days, but we’re proud of the support that the United States has given to the IDF all along the way.

So, with that, I’d be happy to take your questions.

Q    Jake —

Q    Can you say anything — well, go ahead. I’m sorry.

Q    Jake, thanks so much for doing this. You kind of implied that Sinwar had been an obstacle to hostage release and ceasefire. How big an obstacle is that? And does this give you additional hope now of a ceasefire and possibly a hostage release? How should we process this?

MR. SULLIVAN: I didn’t just imply it; I stated it explicitly.

At various points along the way, Sinwar was more interested in causing mayhem and chaos and death than in actually trying to achieve a ceasefire and hostage deal. And we repeatedly saw moments where it was him, in particular, who stood in the way of making progress towards a ceasefire and hostage deal. Now, there were other obstacles too along the way, but he was certainly a critical one.

And, yes, I think his removal from the battlefield does present an opportunity to find a way forward that gets the hostages home, brings the war to an end, brings us to a day after. That’s something we’re going to have to talk about with our Israeli counterparts.

Of course, there are still other Hamas actors who need to be brought to justice, and there are hostages, including Americans, being held by terrorists. We’re going to have to deal with all of that, but we believe there is a renewed opportunity right now that we would like to seize.

Yeah.

Q    Do you assess this as being the cutting off of the head of the Hydra, or what — what’s your assessment of Hamas’ capabilities from now on? Is there going to be a mop up? And what — what would you recommend the Israelis do?

MR. SULLIVAN: Sinwar was a critical figure operationally, militarily, and politically for Hamas. He had, in fact, consolidated control of both the political and military wing under his singular leadership in — in recent weeks and months. And so, this is a very significant event.

But what exactly it means for the future of Hamas as an organization, it’s early days yet. We will have to see.

What we do know is that the broad military structure, the battalions of Hamas have been systematically dismantled. We do know that Hamas does not pose the kind of threat to Israel that it posed on October 7th or anything close to it. We also know that there are still Hamas terrorists wielding guns and holding hostages and harboring a desire to continue to attack Israel and attack others.

And so, we’re going to have to sort through all of that. But this is an incredibly significant blow to Hamas. It is the removal of someone who, as I said, was unique in the consolidation of the control of the Hamas apparatus under his command. And now we will have to work to ensure that his death actually does deal the kind of long-term blow to Hamas that all of us would like to see.

Q    Can you give —

Q    Do you get the sense that Netanyahu is done now, that he’s — he’s reached his objectives? You just laid out the decimation of Hamas —

MR. SULLIVAN: No, his critical objective that — has not been reached. That objective is the return of the hostages, including American hostages. So, from the United States’ perspective, we now need to work with Israel, with Qatar and Egypt, with others — and this is something we’ll discuss with our European partners as well — to secure the release of those hostages. We’d like to see that happen.

Q    You referenced U.S. intel. To what extent did that play a role in this particular operation?

MR. SULLIVAN: This operation was an IDF operation. I’m not here to overclaim or — or try to take credits for something where the credit belongs to them.

But the Americans — the special operations personnel, the intelligence professionals — they also deserve our thanks for the work that they did alongside the IDF over the course of many months to help create the kind of counterterrorism pressure in Gaza that put a lot of these guys on the run. And Sinwar was plainly on the run (inaudible).

Q    Earlier this — earlier this week, Secretary Blinken and Secretary Austin sent letters to their counterparts threatening legal action if the humanitari- — humanitarian situation in Gaza doesn’t improve. Can you give us a sense of what that legal option would be and if there are any deadlines or specific actions that the president will raise with Prime Minister Netanyahu about that today?

MR. SULLIVAN: The letter speaks for itself. I think a lot of the headlines were breathless and overblown. We have had an ongoing dialogue with Israel for months now about improving the humanitarian situation. We have had previous communications that looked quite similar and that generated positive momentum towards opening crossings and getting more aid in. We’ve had, actually, constructive back-and-forth with our Israeli counterparts over the last few days in response to our requests, and we expect that we’ll see progress on the ground.

One thing that has unfolded this week is — is the reopening of some of the crossings that had been closed in the north and trucks going in. We need to see that sustained and expanded as we go forward, among the other requests in that letter.

But I’d — and I’d — just the other point I would make here is that it’s — it was a private diplomatic communication. It was a serious, substantive laydown. It’s part of our ongoing work and partnership with Israel. And having it all out there in the open, leaked in the way that it was, I think, was highly unfortunate. And I’ll leave it at that.

Q    Can you give us a sense of what the president will say in this conversation with Netanyahu? Will he push for an accelerated timeline for a ceasefire? Will he say, you

know, kind of, “Now you achieved the main direct- — main objective and we should move forward on — on other things,” or push for humanitarian aid?

MR. SULLIVAN: I’m going to let the president speak to the prime minister before I preview what he’s going to say in the press on the record, but we’ll try to give you a good sense of both what the president is thinking and what he’s communicating to the prime minister at the appropriate time.

Q    To — to what extent do you think this success with Sinwar might embolden Netanyahu when it comes to retaliating against Iran? Or do you see them as totally unrelated? And what are your conversations right now with them in terms of restraint — or whatever you want to call it — when the president has thoughts about what the target should be when they hit back?

MR. SULLIVAN: We’ve had very constructive communications with the Israelis about how they’re thinking about responding to the attack on October 1st. Those conversations will continue.

I can’t speculate as to the psychology of the prime minister based on what happened today. What I can say is that the logic of deterrence, the logic of a response to a salvo of 200 ballistic missiles — nothing in the Middle East is unrelated, but that is a distinct logic from the killing of Sinwar today.

Q    Jake, going back to the trip. What message will President Biden give his fellow leaders about America’s place in the world, given the uncertainty around our upcoming election?

MR. SULLIVAN: Say that again.

Q    What reassurance will President Biden give his fellow leaders about America’s place in the world, given the uncertainty about our upcoming presidential election?

MR. SULLIVAN: What President Biden can do is what he’s done for four years, which is lay out his vision of America’s place in the world and point the way forward based on what he thinks are in America’s national security interests and in the interests of our close allies.

Beyond that, he can’t speak for anyone else and doesn’t intend to.

Q    Is there any —

Q    Does this change your calculus on whether Israel can come to the table on a ceasefire by the end of the year?

MR. SULLIVAN: I’m sorry?

Q    Your calculus on whether a ceasefire could be reached by the end of the year.

MR. SULLIVAN: I have long since given up on making predictions or drawing timelines. All I can say is that we see an opportunity now that we want to seize to try to secure the release of the hostages, and we’re going to work at that as rapidly as we possibly can.

Q    Give- — given the situation, would the president reconsider possibly holding a press conference during his time in Berlin? It would be good to hear from him firsthand on how he thinks about this and the situation in Ukraine.

MR. SULLIVAN: I will note for the record there are heads nodding. (Laughter.) I’ll also note for the record that that is a really fascinating way to bring the press into the middle of a world historical event. So — (laughter) — and I’ll leave it at that.

Q    I’ll follow up on that. The president talks about democracy as being a key part of his administration, of his vision for America that you just referenced. Why would he not take questions from the press at what was originally going to be a state visit to Germany? I don’t understand.

MR. SULLIVAN: It’s fascinating how you guys can — (laughs) — make this the story.

Q    It’s not the story. It’s just a question.

MR. SULLVIAN: I mean, honestly, I think invoking democracy and suggesting that President Biden is somehow insufficiently committed to it because of the structure of his press engagement on one day in Germany is a bit ludicrous.

Q    I can ask a Germany question. So, a lot of the moves that President Biden has made both domestically and internationally have been characterized as “Trump-proofing” the — the, you know, U.S. government for a future Trump presidency.

How do you feel about that characterization? I’m talking about moves like bringing NATO under — forgive me, it’s too complicated to explain, but you know what I’m talking about.

So, do you think he’s Trump-proofing?

MR. SULLIVAN: I — I don’t like characterizations like that because they’re inherently political.

Q    So, what is he doing, then?

MR. SULLIVAN: What the president is trying to do is to make our commitment to Ukraine sustainable and institutionalized for the long term. And every other ally agreed that that was the responsible thing to do.

The la- —

Q    (Inaudible) necessarily reduced U.S. role, is that the idea?

MR. SULLIVAN: Not at all. The basic logic was what the president laid out at the Washington Summit this summer, which is the communiqué said Ukraine’s place, Ukraine’s future, is in NATO. There is work to do to get from here to there, including reforms and security conditions being met.

So, the question is, how do you build a bridge from where we are now to Ukraine’s eventual membership in NATO? And the answer to that question was the set of deliverables in Washington, including the institutionalization of the security support apparatus for Ukraine. That is what we were trying to accomplish, and that’s what we believe we did accomplish.

Q    Jake, on Iran. Can you confirm and elaborate on reporting that President Biden directed the NSC to warn Iran that any attempt on President Trump’s life would be seen as an act of war?

MR. SULLIVAN: I will tell you that President Biden has taken this issue with the utmost seriousness. He asked to be updated on it regularly. He gives us direction for how to respond to it regularly and in a very serious and consequential way. We are following his directives and implementing them. And I’m not going to get into specifics on what that looks like.

Q    Jake, what about these reports that President Trump and President Putin have had seven conversations? Are you worried about this? Are you worried about any sort of backdoor conversations President Trump is having with leaders?

MR. SULLIVAN: I do not know if that’s true or not, but obviously that would raise red flags if it were true.

Q    Another one on — since you just said Putin. There’s been reporting in Germany that Chancellor Scholz said he would be open to speaking with President Putin ahead of the G20 if asked — sort of various ways he said it. Have you guys talked about this? Has he told President Biden about this? Do you think this would be a good idea to do a leader-level conversation with President Putin at this time?

MR. SULLIVAN: That has not come up between the chancellor and the president. You know, I was just in Germany at the end of last week with my German counterpart. That — the question of a call to Putin didn’t come up. So, I think that’s a question better put to the chancellor.

Q    The official who briefed us yesterday about the Germany trip on the — on the phone mentioned that the Ramstein meeting would be rescheduled. Does that mean the president will be going back to Ramstein at some point, or what — what did that mean?

MR. SULLIVAN: We will hold a leaders-level Ramstein meeting virtually in November.

Q    One more. On the frozen assets deal — the Russian frozen assets. What’s the progress on that there? I assume this comes up in the conversations. Is there a plan B if the EU doesn’t figure out a sanctions regime?

MR. SULLIVAN: I’m feeling very good about the progress that we’ve made on the G7 commitment to mobilize $50 billion from the proceeds of the Russian sovereign assets by the end of the year. We intend to meet that commitment, and we intend to make a contribution — the United States. The EU, obviously, has announced that it’s prepared to make a contribution. So are other partners. So, from my perspective, at this point, everything is on track.

Q    Is there any update on when the president might talk to President Xi?

MR. SULLIVAN: No.

Thank you, guys.

Q    Thank you.

Q    Who you — wait, who are you rooting for in the playoffs, World Series?

MR. SULLIVAN: I’m a Minnesota Twins fan, so I can’t root for the Guardians, but I definitely can’t root for the Yankees.

I don’t know.

Q    What about the Dodgers and Mets?

MR. SULLIVAN: Yeah, I’m watching, but actually I don’t — I’ve not clearly determined who I’d prefer to win. But, yeah, Dodgers or Mets.

Q    Can you swing back and talk to us off the record later?

MR. SULLIVAN: Sure.

Q    Great.

Q    Thanks.

MS. JEAN-PIERRE: I don’t know. Is there any real thing — anything else to discuss? Let me t- —

Q    The only thing I would say is we disagree with the suggestion that democracy and speaking — and taking questions from the press is “ludicrous.”

MS. JEAN-PIERRE: All right. Noted.

Q    I would argue that our stories allow the president to have a relationship with the world, not just with other leaders, and the ability to talk openly will help that.

MS. JEAN-PIERRE: All right. Noted. Noted.

Let’s move on.

So, just want to talk about an announcement. This is domestic, obviously, going to go to the — to that space. I just wanted to touch on an announcement very quickly.

And so, today, the Biden-Harris administration announced an additional $4.5 billion in student debt cancelation for over 60,000 public service workers, bringing the total number of public — of public service workers who have had their student debt canceled under the Biden-Harris administration to over 1 million people.

One such example is Kelly, a kindergarten teacher in Rhode Island, who had been paying off her student loans for a decade. After the student let her know that her debt had been canceled, she tol- — after the president, pardon me — she told us that after 12 years of marriage, she might be able to take the honeymoon she never had.

The president — the president’s administration made it a priority to fix the Public Service Loan Forgiveness Program. Prior to our administration, only 7,000 public service workers had received relief since the program was established in 2007.

Thanks to the work of the Biden-Harris administration, as of today, 1 million teachers, nurses, firefighters, service members, first resp- — responders, and — and more who — who pursued careers in public service have gotten the relief they deserve.

The relief brings the total loan forgiveness approved by the Biden-Harris administration — administration to over $175 billion for nearly 5 million Americans. And while — meanwhile, our Republicans elected officials have repeatedly attempted to block student debt relief.

President Biden and Vice President Harris remain committed to making education affordable for all Americans.

With that, what else do you guys have for me?

Q    I have a question.

MS. JEAN-PIERRE: Sure.

Q    Did President Biden talk to Vice President Harris ahead of this trip to see if she had any message for the world leaders or to get her input on what the situation should be going forward?

MS. JEAN-PIERRE: As you know, the president and the vice president talk regularly. I don’t have a specific call to — to read out, but I think you can see the last almost four years of the — what we’ve been able to do, what the president has been able to do on the world stage, certainly has been in partnership with the vice president. I know that she supports his trip and everything that he’s — he’s trying to do tomorrow in the — in the short trip that we have in — in Germany.

I just don’t have anything to read out as a call specifically on this trip.

Q    Is the president or the administration facing pressure from allies to get something done after the election but before he is out of office? There’s been some talks that Zelenskyy — you know, whether that’s accelerating a push for Ukraine into NATO or — or other funding things for Ukraine?

MS. JEAN-PIERRE: Well, you’re talking about the victory plan. Certainly, I’m going to let the Ukr- — Ukrainians speak to their victory plan as it relates to that question about NATO.

Look, I think — I think what you have seen from this president, from this administration — obviously, including the vice president — is how much we have stand behind — next to, if you will — with Ukrainians and how they’re trying to beat back the aggression that we’ve seen from Russia. And you have not just seen us standing there. You’ve seen this president take action, and — which is why you see NATO much stronger than it was, and that’s why you see 50 countries have gotten behind Ukraine. And you heard us — you heard us lay out yesterday an additional assistance package that we have provided to Ukrainians.

And so, we’re going to have to continue — we’re going to continue having conversations with the Ukrainians on what they need on the battlefield and how else we can be helpful to them.

As it relates to their victory plan — as it relates to what’s next, I’m certainly going to let the Ukrainians speak directly about that.

Obviously, the president has had a conversation with the president, President Zelenskyy, on that plan. I just don’t have anything beyond that, and I’m not — certainly, I’m not going to get into hypotheticals from here.

Q    The president at the funeral yesterday had a — what looked like a spirited conversation with former President Obama. Did you talk to him about what they discussed?

MS. JEAN-PIERRE: No, it’s been kind of busy the last couple hours on the plane, as you can imagine.

Look, I’ll — I’ll say this. The president really very much looked — appreciated being there at the — at the funeral of Ethel Kennedy, who he saw as someone who was incredible and had a — was an incredible force, obviously, in her life, during her — her years. And what he wanted to do is — was to lift up — lift her up and speak to her accomplishment and what she meant to him — not just to him but to her family and to the country. So, he appreciated doing that.

And we have said many times the president and — and president — and former President Biden [Obama] — they have a very close relationship. They’ve had one for a long time, obviously, as he served as his vice president.

I don’t have anything else to — to share on that. I have not had this conversation with the president. Obviously, we’ve been pretty busy these past couple of hours on the plane.

Q    Do you know if the president was able to watch any of the Fox News interview that Vice President Harris did? And does —

MS. JEAN-PIERRE: Yes, he —

Q    — did he talk to you about how — how she did?

MS. JEAN-PIERRE: Yeah, he was able to — to catch that. And he saw her performance, her interview as strong. And I think what you saw and what — and this is what he believes — is that you saw why Americans and people want to see her continuing to fight for them. And that’s what he saw last night. That’s what we all saw — many of us saw. So, I think she was strong and incredibly impressive in that interview.

Q    Karine, does the president believe that his vice president would be a markedly different leader?

MS. JEAN-PIERRE: I mean, look, he talked about this on Tuesday when he was in Philly, and he — and I talked a little bit about this as well, just reit- — really reiterating what the president shared, which is that, look, she’s going to be essentially her own person, right? She is going to have her own direction, her own view of how to move forward.

And he did that, right? He was loyal to President Obama when he was vice president, but he cut his own path. And so, that’s what he expects from the vice president to do.

So, nothing — nothing new. That’s what he expects her to do — to have her own path, to have — to build on — certainly, to build on the economic successes that we have seen and continuing the — the work that we’ve been able to do.

But she’s going to cut her own path. He was very clear about that a couple days ago.

Q    Karine —

Q    But on student loans — you talked about the PSLF 1 million, a huge achievement for those borrowers — what’s your message for the other 40 million-plus borrowers who’ve been caught up in a lot of legal limbo over the past three years?

MS. JEAN-PIERRE: Look, I’ll — I’ll say this. You know, I’m not going to speak to the legal — the legal components of this. There are legal matters that are happening, so they are ongoing. So, I’m not going to speak to that.

But I think what you can take away from what this president has — trying to do, when Republicans have continued to block him, in promising to give Americans a little bit of breathing room, to make sure that Americans who have — borrows [borrowers] who have loans and — and are squeezed by those loans are not able to, you know, buy a home, start a family.

The president was very attuned to that and very clear that he wanted to give them an opportunity — an opportunity to really, you know, be able to — to start that life that they wanted. And so, he’s been trying to do that, even though he’s been blocked and — and Republicans have gotten in the way.

I think you can see over the past — certainly, the past six months, the president continuing to try to take actions to — to make sure he kept his commitment to Americans who, again, need a little bit of breathing room.

So, I’m not going to speak to the legal matter, but I think this announcement today shows his commitment to public service workers, right? I talked about firefighters, nurses. I talked about police officers, who put so much on the line, who give so much for — for everybody, for folks who need their assistance and their help, and wanted to give them that opportunity to really be able to — to move on economically in what they want to accomplish for themselves and for their family.

All right. Anything else?

Q    On the —

Q    So —

Q    Sorry. Go ahead.

Q    Sorry.

Now going back to the funeral for a minute. Did he speak with Speaker Emeritus Pelosi? And also, she was not seen at the Italian American celebration, when she’s been front and center in the past. Was she not invited?

MS. JEAN-PIERRE: I — I don’t have anything to share with you on that. I didn’t talk to the president about that at all. But what you saw — obviously, you saw the president and the former president, Pres- — President Obama, connect, have a moment together. The president m- — very much looked forward to that. I just don’t have anything on Nancy Pelosi.

Q    Just —

Q    I noticed he didn’t recognize her when he recognized the other two presidents at the funeral.

MS. JEAN-PIERRE: Well, he wanted it — I can say this. He wanted it to be, you know — to — to be very focused on the family. He wanted it to be, you know, brief and — and very poignant. And that’s what his focus was yesterday on his remarks.

Q    On the trip. Obviously, this is a abbreviated agenda from, you know, the Ramstein summit —

MS. JEAN-PIERRE: Yeah.

Q    — and other things.

MS. JEAN-PIERRE: Yeah.

Q    But can you explain to us, what’s the reason that it’s so short? Why do we have to get out of Germany at 4:00 p.m. tomorrow? Is there a reason on the German chancellor’s schedule why we have to —

MS. JEAN-PIERRE: So, I mean —

Q    Regardless of the press conference, there was also talk about maybe doing a Holocaust memorial situation. What’s —

MS. JEAN-PIERRE: No, I totally understand what — totally — as you — let’s step back for a second.

The reason that the president had to postpone his trip was because Hurricane Milton was coming, and it was — it was forecast to be a historical hurricane, and the president wanted to be in the States to deal with the response and what was needed, certainly, by the impacted region, for what folks on the ground really needed.

And so, that’s why we postponed the trip. We said that we wanted to certainly get that back on the books. We were able to do it — to your point, a truncated version, but it is a robust schedule. And we were able to work with the Germans and to be able to get done what we can on this trip.

I mean, the president has a busy schedule. He does. There’s a lot going on in the next couple days, couple weeks.

Q    But he has to get back to the States for something in particular —

MS. JEAN-PIERRE: I mean, we’ll —

Q    — that we don’t know about?

MS. JEAN-PIERRE: We’re certainly going to share with you what the — his — the next couple of days of his schedule is going to look like. But he wanted to — and I said this yesterday in the briefing room. He wanted to thank the chancellor for his partnership, for his leadership as well with Ukraine. Outside of the U.S., U- — the U- — German is the second — have provided the second-most resources, assistance to Ukrainians.

And so, he wanted to be, you know, thankful to him. And so, that’s what you’re seeing on this trip. He wanted to make this happen. He asked his team to make this trip happen.

And so, look, we have a busy schedule. We got a lot going on in next couple of days, next couple of weeks. And so, we tried to fit this in, and this is what we were able to do in working with the German government as well to make this happen.

Q    Does the president, as the election hits its final two weeks, expect to get more aggressive in outreach and participation? Is that maybe what you’re referencing, or what’s his thinking on that?

MS. JEAN-PIERRE: So, you know I can’t speak to political trips or any- —

Q    But if —

MS. JEAN-PIERRE: But wa- —

Q    — you could speak on his schedule.

MS. JEAN-PIERRE: Well, I — I’m just — want to get that out of there. And so, look, the president is certainly looking at — looking forward to being out there and supporting the vice president.

I just want to be super mindful. But he will — you’ll see him — you’ll see him hit the road. You’ll see him hit the road, for sure.

That’s all I got.

All right. Thanks, everybody. Sorry my voice is a little hoarse.

Q    Thanks, Karine.

MS. JEAN-PIERRE: Thanks, everybody.

2:45 P.M. EDT

MIL OSI USA News –

January 24, 2025
MIL-OSI China: ROC (Taiwan) government donates US$800,000 to assist US with reconstruction efforts following Hurricane Helene
Source: Republic of Taiwan – Ministry of Foreign Affairs

ROC (Taiwan) government donates US$800,000 to assist US with reconstruction efforts following Hurricane Helene
- Date：2024-10-12
- Data Source：Public Diplomacy Coordination Council
October 12, 2024

No. 350

On the evening of September 26, category 4 Hurricane Helene hit Florida and continued on to ravage many other southeastern states in the United States, causing over 230 deaths and US$30 billion in damages thus far. The ROC (Taiwan) government is donating US$800,000 to assist local governments and residents with the recovery efforts, with US$300,000 earmarked for Florida and North Carolina each and US$200,000 for Georgia. It is hoped that these funds will help victims return to normal life as soon as possible.

As Taiwan is typically struck by typhoons every year in summer and fall, the people and government of Taiwan empathize with the people of the southeastern US regarding the great loss in life and property caused by Hurricane Helene. To promptly extend a helping hand, Taiwan’s offices in Miami and Atlanta will consult with related US agencies so that the funds will be publicly donated to special accounts dedicated to assisting local residents in reconstructing their homes. (E)

MIL OSI China News –
January 24, 2025
MIL-Evening Report: How we treat catchment water to make it safe to drink
Source: The Conversation (Au and NZ) – By Mark Patrick Taylor, Chief Environmental Scientist, EPA Victoria; Honorary Professor, School of Natural Sciences, Macquarie University

Andriana Syvanych/Shutterstock

Most of us are fortunate that, when we turn on the tap, clean, safe and high-quality water comes out.

But a senate inquiry into the presence of PFAS or “forever chemicals” is putting the safety of our drinking water back in the spotlight.

Lidia Thorpe, the independent senator leading the inquiry, says Elders in the Aboriginal community of Wreck Bay in New South Wales are “buying bottled water out of their aged care packages” due to concerns about the health impacts of PFAS in their drinking water.

So, how is water deemed safe to drink in Australia? And why does water quality differ in some areas?

Here’s what happens between a water catchment and your tap.

Human intervention in the water cycle

There is no “new” water on Earth. The water we drink can be up to 4.5 billion years old and is continuously recycled through the hydrological cycle. This transfers water from the ground to the atmosphere through evaporation and back again (for example, through rain).

Humans interfere with this natural cycle by trapping and redirecting water from various sources to use. A lot happens before it reaches your home.

The quality of the water when you turn on the tap depends on a range of factors, including the local geology, what kind of activities happen in catchment areas, and the different treatments used to process it.

Maroondah dam in Healesville, Victoria.
doublelee/Shutterstock

How do we decide what’s safe?

The Australian Drinking Water Guidelines define what is considered safe, good-quality drinking water.

The guidelines set acceptable water quality values for more than 250 physical, chemical and bacterial contaminants. They take into account any potential health impact of drinking the contaminant over a lifetime as well as aesthetics – the taste and colour of the water.

The guidelines are not mandatory but provide the basis for determining if the quality of water to be supplied to consumers in all parts of Australia is safe to drink. The guidelines undergo rolling revision to ensure they represent the latest scientific evidence.

From water catchment to tap

Australians’ drinking water mainly comes from natural catchments. Sources include surface water, groundwater and seawater (via desalination).

Public access to these areas is typically limited to preserve optimal water quality.

Filtration and purification of water occurs naturally in catchments as it passes through soil, sediments, rocks and vegetation.

But catchment water is subject to further treatment via standard processes that typically focus on:
- removing particulates (for example, soil and sediment)
- filtration (to remove particles and their contaminants)
- disinfection (for example, using chlorine and chloramine to kill bacteria and viruses)
- adding fluoride to prevent tooth decay
- adjusting pH to balance the chemistry of the water and to aid filtration.
This water is delivered to our taps via a reticulated system – a network of underground reservoirs, pipes, pumps and fittings.

In areas where there is no reticulated system, drinking water can also be sourced from rainwater tanks. This means the quality of drinking water can vary.

Sources of contamination can come from roof catchments feeding rainwater tanks as well from the tap due to lead in plumbing fittings and materials.

So, does all water meet these standards?

Some rural and remote areas, especially First Nations communities, rely on poor-quality surface water and groundwater
for their drinking water.

Rural and regional water can exceed recommended guidelines for salt, microbial contaminants and trace elements, such as lead, manganese and arsenic.

The federal government and other agencies are trying to address this.

There are many impacts of poor regional water quality. These include its implication in elevated rates of tooth decay in First Nations people. This occurs when access to chilled, sugary drinks is cheaper and easier than access to good quality water.

What about PFAS?

There is also renewed concern about the presence of PFAS or “forever” chemicals in drinking water.

Recent research examining the toxicity of PFAS chemicals along with their presence in some drinking water catchments in Australia and overseas has prompted a recent assessment of water source contamination.

A review by the National Health and Medical Research Council (NHMRC) proposed lowering the limits for four PFAS chemicals in drinking water: PFOA, PFOS, PFHxS and PFBS.

The review used publicly available data and found most drinking water supplies are currently below the proposed new guideline values for PFAS.

However, “hotspots” of PFAS remain where drinking water catchments or other sources (for example, groundwater) have been impacted by activities where PFAS has been used in industrial applications. And some communities have voiced concerns about an association between elevated PFAS levels in their communities and cancer clusters.

While some PFAS has been identified as carcinogenic, it’s not certain that PFAS causes cancer. The link is still being debated.

Importantly, assessment of exposure levels from all sources in the population shows PFAS levels are falling meaning any exposure risk has also reduced over time.

How about removing PFAS from water?

Most sources of drinking water are not associated with industrial contaminants like PFAS. So water sources are generally not subject to expensive treatment processes, like reverse osmosis, that can remove most waterborne pollutants, including PFAS. These treatments are energy-intensive and expensive and based on recent water quality assessments by the NHMRC will not be needed.

While contaminants are everywhere, it is the dose that makes the poison. Ultra-low concentrations of chemicals including PFAS, while not desirable, may not be harmful and total removal is not warranted.

Mark Patrick Taylor is a full-time employee of EPA Victoria, appointed to the statutory role of Chief Environmental Scientist. He is also an Honorary Professor at Macquarie University. EPA Victoria has previously received funding from the Department of Energy, Environment and Climate Action and Victorian water authorities to understand the presence of contaminants waste water. He has previously received funding from the Australian Government, ARC and other government agencies for environmental pollution research.

Antti Mikkonen is a full-time employee of EPA Victoria, in the role of Principal Health Risk Advisor for chemicals. Antti has previously received funding from the Australian Government Department of Education for research to understand PFAS bioaccumulation in livestock and models for risk management.

Minna Saaristo is a full-time employee of EPA Victoria, appointed to the role of Principal Scientist – Ecological Risk and Emerging contaminants. She is affiliate of the School of Biological Sciences at Monash University. EPA Victoria has previously received funding from the Department of Energy, Environment and Climate Action and Victorian water authorities to understand the presence of emerging contaminants in recycled water. She has previously received funding from the Australian Government, ARC and other government agencies for environmental pollution research.

– ref. How we treat catchment water to make it safe to drink – https://theconversation.com/how-we-treat-catchment-water-to-make-it-safe-to-drink-242206
MIL OSI Analysis – EveningReport.nz –
January 24, 2025
MIL-OSI Canada: Canada Invests in Climate Change Adaptation to Keep Communities Safe in Southern Ontario and Across Canada

Source: Government of Canada News (2)

Today, Julie Dabrusin, Parliamentary Secretary to the Honourable Jonathan Wilkinson, along with Member of Parliament Bardish Chagger, announced over $4.5 million in funding for nine projects in southern Ontario or with a national reach under Natural Resources Canada’s Climate Change Adaptation Program (CCAP). These projects aim to enhance knowledge and skills among professionals, businesses and communities in southern Ontario and across Canada to adapt to a changing climate, through the development and delivery of tools, resources and training.

MIL OSI Canada News –

January 24, 2025
MIL-OSI USA: Georgia Residents Reminded to Spend FEMA Grant Money Wisely
Source: US Federal Emergency Management Agency

Headline: Georgia Residents Reminded to Spend FEMA Grant Money Wisely

Georgia Residents Reminded to Spend FEMA Grant Money Wisely
ATLANTA — If you are a disaster survivor in Georgia who received a federal disaster assistance grant from FEMA after Tropical Storm Debby, Aug. 4 – 20, 2024 or Hurricane Helene, it’s important to use the money only for disaster related expenses.

To help you make sure you’re using the money you received, FEMA sends a letter explaining what you can use the funds for, and listing the ways the money can be used. Disaster grants are not for regular living expenses. You should keep receipts for all expense for at least three years because FEMA can require you to repay the grant If you spend it on anything other than the purpose for which it is intended.

Examples of expenses this grant covers include:
- Home repairs such as structure, water, septic and sewage systems.
- Rental assistance for rent and/or deposit.
- Repair or replacement of a flooded essential vehicle.
- Medical or dental care for an uninsured injury caused by the disaster.
- Repair of occupational specialized tools.
- Necessary educational materials such as computers, schoolbooks, supplies.
- Moving and storage expenses related to the disaster.
- Increased childcare expenses.
Please read your FEMA determination letter carefully to make sure you include all required documents and information.

It’s also important to make sure FEMA has your most up-to-date contact information, including addresses, phone numbers and bank accounts. If FEMA does not have your correct information, you may miss letters or phone calls about your assistance application or payment status.

If you have any questions about your FEMA disaster assistance grant, call the FEMA Helpline, 800-621-3362 between 6 a.m. and 11 p.m. ET. Help is available in most languages.

For the latest information about Georgia’s recovery, visit FEMA’s Hurricane Debby Georgia page or FEMA’s Hurricane Helene Georgia page. Follow FEMA on X at x.com/femaregion4 or on Facebook at facebook.com/fema.
minh.phan
Sat, 10/19/2024 – 13:59

MIL OSI USA News –
January 24, 2025
MIL-OSI USA: Disaster Recovery Center Opens in Union County

Source: US Federal Emergency Management Agency

Headline: Disaster Recovery Center Opens in Union County

Disaster Recovery Center Opens in Union County

A Disaster Recovery Center will be open in Union County to provide in-person assistance to South Carolinians affected by Hurricane Helene.

Union County
Union County Library
300 E. South St.
Union, SC 29379
Open Oct. 20-22, 8 a.m.-7 p.m.

This location joins the centers previously opened in Anderson, Cherokee, Greenville and Pickens counties.

Anderson County
Anderson County Library
300 N. McDuffie St.
Anderson, SC 29621
Open Oct. 20, 2 p.m. – 5 p.m.
Oct. 21-24, 9 a.m. – 6:30 p.m.
Oct. 25-26, 9 a.m. – 5 p.m.
Oct. 27, 2 p.m. – 5 p.m.

Cherokee County
East Gaffney Baptist Church
2308 Cherokee Ave.
Gaffney, SC 29340
Open Oct. 17-20, 8 a.m.–7 p.m.

Greenville County
Freetown Community Center
200 Alice Ave.
Greenville, SC 29611
Open daily, 8 a.m.–7 p.m.

Pickens County
Captain Kimberly Hampton Memorial Library
304 Biltmore Road
Easley, SC 29640
Open through Oct. 21, 8 a.m.-7 p.m.

Additional Disaster Recovery Centers are scheduled to open in other South Carolina counties. You can visit any open center to meet with representatives of FEMA, the state of South Carolina and the U.S. Small Business Administration. No appointment is needed. To find other center locations, go to fema.gov/drc or text “DRC” and a Zip Code to 43362.

Homeowners and renters in Abbeville, Aiken, Allendale, Anderson, Bamberg, Barnwell, Beaufort, Cherokee, Chester, Edgefield, Fairfield, Greenville, Greenwood, Hampton, Jasper, Kershaw, Laurens, Lexington, McCormick, Newberry, Oconee, Orangeburg, Pickens, Richland, Saluda, Spartanburg, Union and York counties and the Catawba Indian Nation can apply for federal assistance.

The quickest way to apply is to go online to DisasterAssistance.gov. You can also apply using the FEMA App for mobile devices or calling toll-free 800-621-3362. The telephone line is open every day and help is available in many languages. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA your number for that service. For a video with American Sign Language, voiceover and open captions about how to apply for FEMA assistance, select this link.

FEMA programs are accessible to survivors with disabilities and others with access and functional needs.

kwei.nwaogu
Sat, 10/19/2024 – 16:27

MIL OSI USA News –

January 24, 2025
MIL-OSI USA: FEMA Assistance for Hurricane Helene in South Carolina Tops $150M
Source: US Federal Emergency Management Agency

Headline: FEMA Assistance for Hurricane Helene in South Carolina Tops $150M

FEMA Assistance for Hurricane Helene in South Carolina Tops $150M
As of Oct. 19, FEMA has approved more than $154 million in federal disaster assistance to help more than 211,047 South Carolina households recover from Hurricane Helene. This includes:
- More than $11 million in housing grants to help pay for home repair, home replacement and rental assistance for temporary housing.
- More than $142 million in Other Needs Assistance grants to help pay for personal property replacement and other serious storm-related needs, such as moving and storage fees, transportation, childcare, and medical and dental expenses.
FEMA has completed more than 23,000 home inspections for Hurricane Helene survivors. Along with state and federal partners, nine Disaster Recovery Centers have been opened with more to come in affected areas.

In addition, the National Flood Insurance Program has received 302 claims from South Carolina policyholders and has paid out $213,000.

Homeowners and renters in Abbeville, Aiken, Allendale, Anderson, Bamberg, Barnwell, Beaufort, Cherokee, Chester, Edgefield, Fairfield, Greenville, Greenwood, Hampton, Jasper, Kershaw, Laurens, Lexington, McCormick, Newberry, Oconee, Orangeburg, Pickens, Richland, Saluda, Spartanburg, Union and York counties and the Catawba Indian Nation who were affected by Hurricane Helene are eligible to apply for FEMA assistance at this time. Residents can apply for FEMA assistance in several ways:
- Online at DisasterAssistance.gov. (This is the fastest way to apply.)
- In person at any Disaster Recovery Center. To find a center close to you, visit fema.gov/DRC, or text DRC along with your Zip Code to 43362 (Ex: DRC 29169).
- On your phone using the FEMA mobile app.
- By calling the FEMA Helpline at 800-621-3362. Help is available in many languages. The telephone line is open every day. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA your number for that service.
For a video with American Sign Language, voiceover and open captions about how to apply for FEMA assistance, select this link. FEMA programs are accessible to survivors with disabilities and others with access and functional needs.
kwei.nwaogu
Sat, 10/19/2024 – 17:38

MIL OSI USA News –
January 24, 2025
MIL-OSI USA: Major Disaster Declaration Granted for Southeastern NC Counties Following Impacts of Potential Tropical Cyclone Eight

Source: US State of North Carolina

Headline: Major Disaster Declaration Granted for Southeastern NC Counties Following Impacts of Potential Tropical Cyclone Eight

Major Disaster Declaration Granted for Southeastern NC Counties Following Impacts of Potential Tropical Cyclone Eight
mseets
Sat, 10/19/2024 – 17:07

Today, Governor Roy Cooper’s requests for a federal Major Disaster Declaration as a result of Potential Tropical Cyclone Eight were granted.

This Major Disaster Declaration means Public Assistance funding for emergency work and the repair or replacement of damaged facilities in Brunswick, Carteret, New Hanover and Onslow counties will be available from FEMA.

In addition, the Small Business Administration granted Governor Cooper’s request for an SBA disaster declaration for Brunswick, Columbus, New Hanover and Pender counties meaning low-interest loans for business owners, homeowners and renters. The Governor issued a State Type 1 Disaster Declaration for Individual Assistance for Brunswick, Columbus, New Hanover and Pender counties on Oct. 16.

“This storm brought historic rainfall and severe flooding to several areas of our state causing significant damage,” said Governor Cooper. “These disaster declarations will help bring needed relief for folks impacted by the storm, including small business owners.”

Governor Cooper sent letters to President Joe Biden and United States SBA Director Kem Fleming last week. Both requests were granted and additional federal resources will be available in affected areas. A FEMA major disaster declaration can provide a wide range of federal assistance programs for public infrastructure, including funds for both emergency and permanent work. The Small Business Administration offers disaster loans to businesses, homeowners, renters and private nonprofit organizations that can cover physical damage repairs, expenses for small businesses, funding to prevent future damage and operating expenses for companies with employees on active duty leave.

Read the declaration summary here.

###

Oct 19, 2024

MIL OSI USA News –

January 24, 2025
MIL-OSI China: Symposium held in Islamabad on China-Pakistan cooperation to drive modernization

Source: China State Council Information Office

Khalid Mahmood (C), chairman of the Institute of Strategic Studies Islamabad (ISSI) Board of Governors, speaks at the Hong Ting Forum held in Islamabad, Pakistan, Oct. 18, 2024. The Hong Ting Forum themed “Understanding China-Pakistan All-Weather Strategic Cooperative Partnership and Chinese-style Modernization Development Path” has been held in Pakistan’s federal capital city of Islamabad. The symposium held on Friday drew about 100 participants, including diplomats, scholars, and media representatives. It was co-convened by Xinhua News Agency and the Institute of Strategic Studies Islamabad (ISSI), an Islamabad-based think tank. (Xinhua/Ahmad Kamal)

The Hong Ting Forum themed “Understanding China-Pakistan All-Weather Strategic Cooperative Partnership and Chinese-style Modernization Development Path” has been held in Pakistan’s federal capital city of Islamabad.

The symposium held on Friday drew about 100 participants, including diplomats, scholars, and media representatives. It was co-convened by Xinhua News Agency and the Institute of Strategic Studies Islamabad (ISSI), an Islamabad-based think tank.

Speaking at the event, Shi Yuanqiang, minister of Chinese Embassy in Pakistan, said that China is ready to share development opportunities with the rest of the world.

“China and Pakistan are good neighbors and all-weather strategic cooperative partners, and mutually beneficial cooperation benefits both countries,” he added.

Masood Khalid, former Pakistani ambassador to China, said the third plenary session of the 20th Communist Party of China Central Committee has adopted a grand strategic blueprint for Chinese-style modernization.

“Pakistan greatly value our time-tested relationship with China, and both countries are tied in a relationship which is unbreakable,” Khalid said, adding that Pakistan should learn from the development model of Chinese-style modernization to embark on the path of self-reliance and better benefit both nations and regional development.

Mudassar Iqbal, deputy director of Associated Press of Pakistan, said that China’s approach to modernization is not only benefiting its own people but also contributing to global development.

“The ironclad friendship between Pakistan and China will enable the two countries to stand and move forward side by side and forge a future of shared prosperity and unshakable friendship,” he added.

Hassan Daud Butt, senior advisor at the China Study Center of the Sustainable Development Policy Institute, an Islamabad-based think tank, said that Pakistan should fully utilize the China-Pakistan Economic Corridor (CPEC) to expand cooperation with China in various fields such as industry, agriculture, science and technology, digital economy, green energy and technological innovation.

On the occasion, Khalid Mahmood, chairman of the ISSI Board of Governors, said efforts should be stepped up by the media and think tanks of Pakistan and China to contribute to deepening the all-weather strategic cooperative partnership between the two countries.

MIL OSI China News –

January 24, 2025
MIL-OSI USA: Martin County Disaster Recovery Center Hours Change

Source: US Federal Emergency Management Agency

Headline: Martin County Disaster Recovery Center Hours Change

Martin County Disaster Recovery Center Hours Change

TALLAHASSEE, Fla.– Beginning Sunday, Oct. 20, the Disaster Recovery Center in Martin County will now be open 9 a.m. to 7 p.m. daily.

Martin County
Martin County Fairgrounds, Buildings F&G
2616 SE Dixie Hwy.
Stuart, FL 34996
Hours: 9 a.m.–7 p.m. Monday-Sunday

Survivors do not need to visit a center to apply for assistance. Homeowners and renters are encouraged to apply online at DisasterAssistance.gov or by using the FEMA App. You may also apply by phone at 800-621-3362. If you choose to apply by phone, please understand wait times may be longer because of increased volume for multiple recent disasters. Lines are open every day and help is available in most languages. If you use a relay service, captioned telephone or other service, give FEMA your number for that service. For an accessible video on how to apply for assistance go to FEMA Accessible: Applying for Individual Assistance – YouTube.

For the latest information about Hurricane Milton recovery, visit fema.gov/disaster/4834.. Follow FEMA on X at x.com/femaregion4 or on Facebook at facebook.com/fema.

kirsten.chambers
Sun, 10/20/2024 – 13:28

MIL OSI USA News –

January 24, 2025
MIL-OSI USA: Disaster Recovery Centers Open in Indian River, Martin and St. Lucie Counties

Source: US Federal Emergency Management Agency

Headline: Disaster Recovery Centers Open in Indian River, Martin and St. Lucie Counties

Disaster Recovery Centers Open in Indian River, Martin and St. Lucie Counties

TALLAHASSEE, Fla. – FEMA has opened Disaster Recovery Centers in Indian River, Martin and St. Lucie counties to provide one-on-one help to Floridians affected by Hurricane Milton. Survivors of any of the storms can visit any center.

Survivors do not need to visit a center to apply for assistance. Survivors are encouraged to apply online at DisasterAssistance.gov or by downloading the FEMA App. FEMA does not distribute cash at Disaster Recovery Centers.

Center locations:

Indian River County
Intergenerational Recreation (IG) Center
1590 9th St. SW
Vero Beach, FL 32962
Hours: 8 a.m.–7 p.m. Monday-Sunday

Martin County
Martin County Fairgrounds, Buildings F&G
2616 SE Dixie Hwy.
Stuart, FL 34996
Hours: 7 a.m.–7 p.m. Monday-Sunday

St. Lucie County
Havert L. Fenn Center
2000 Virginia Ave.
Fort Pierce, FL 34982
Hours: 10 a.m.–7 p.m. Monday-Saturday, 11 a.m.-4 p.m. Sunday

To find other center locations go to fema.gov/drc or text “DRC” and a Zip Code to 43362. All centers are accessible to people with disabilities or access and functional needs and are equipped with assistive technology.

Homeowners and renters are encouraged to apply online at DisasterAssistance.gov or by using the FEMA App. You may also apply by phone at 800-621-3362. If you choose to apply by phone, please understand wait times may be longer because of increased volume for multiple recent disasters. Lines are open every day and help is available in most languages. If you use a relay service, captioned telephone or other service, give FEMA your number for that service. For an accessible video on how to apply for assistance go to FEMA Accessible: Applying for Individual Assistance – YouTube.

For the latest information about Hurricane Milton recovery, visit fema.gov/disaster/4834. For Hurricane Helene recovery information, visit fema.gov/disaster/4828. For Hurricane Debby recovery information, visit fema.gov/disaster/4806. Follow FEMA on X at x.com/femaregion4 or on Facebook at facebook.com/fema.

kirsten.chambers
Sun, 10/20/2024 – 13:54

MIL OSI USA News –

January 24, 2025

Category: Weather

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Striking the right balance

It’s time for carbon pricing

A carbon solutions levy

Regional considerations

The alternatives to carbon pricing are weak

ROC (Taiwan) government donates US$800,000 to assist US with reconstruction efforts following Hurricane Helene

Human intervention in the water cycle

How do we decide what’s safe?

From water catchment to tap

So, does all water meet these standards?

What about PFAS?

How about removing PFAS from water?