Osisko Development Strengthens Technical Team With Appointment of Vice President, Exploration

BP and XRG, a UAE unit of Abu Dhabi National Oil Company, were awarded an exploration and production license for phase 2 of Venezuela’s Loran offshore gas field in the Plataforma Deltana area. The field is estimated to hold 4 trillion cubic feet of recoverable gas. BP will operate with equal working interest; UCC Oil and Gas also holds an interest.

Tutor Perini said it won a $42m contract via the US Army Corps of Engineers to build facilities at Tabuk Air Base in Saudi Arabia. The work covers a helicopter maintenance hangar, warehouse, and Ground Support Equipment facilities, plus integration with existing infrastructure. Design is expected to start Sept 2026, with substantial completion by Sept 2028.

ICICI Bank Ltd. is arranging an offshore syndicated dollar loan of about $1.45 billion, according to people familiar with the matter. It initially signed a roughly $1 billion agreement with Bank of America, then plans to include Mizuho, Mashreqbank and UOB. The four-year loan carries a margin of 110 bps over SOFR, amid RBI swap-facility demand.

General Motors said in an 8-K that it set up a three-year purchasing facility with Procura Auto Parts as purchasing agent and supplier for critical parts. The credit line is $4.5 billion. Procura will pay suppliers, hold inventory, and manage supply-chain risk, while GM reimburses on a schedule. The article cites ongoing chip and materials shortages.

Cargojet reported quarterly revenue of $275.8M and declared a 38.5c per share cash dividend. RBC and BMO agreed to sell Moneris to Francisco Partners for about $2B, expected by end of FY2027 Q1. Barrick reported Q2 profit of $1.22B, revenue $5.29B, and amended Nevada Gold Mines with Newmont. Air Canada will sell 25% of Aeroplan for $2.5B.

NexGen Energy Ltd. began construction on its first uranium mine, the Rook I project, in northern Saskatchewan. The $2.2 billion mine is expected to ramp up over four years to 30 million pounds of uranium annually. NexGen completed a 3,000-foot airstrip and camp, plans to expand the airstrip, and expects a mine shaft in 2027. Construction approval came from Canada’s CNSC on March 5.