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Kuwait suspends UK firm Petrofac from oil and gas tenders, hindering its recovery.
Kuwait has temporarily suspended UK-based engineering firm Petrofac from participating in oil and gas tenders, a move by Kuwait Petroleum Corporation that hampers the company’s restructuring efforts.
The ban limits Petrofac’s access to a key Middle Eastern market, reducing its ability to secure new contracts during a critical recovery phase.
While the specific reasons for the suspension are not disclosed, the decision underscores ongoing challenges Petrofac faces in regaining client trust and financial stability amid broader industry uncertainties.
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Kuwait suspende a la empresa británica Petrofac de las licitaciones de petróleo y gas, lo que obstaculiza su recuperación.