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Thursday, January 29, 2026 22:58 GMT
Kuwait has cancelled oil sector tenders worth nearly US$10 billion after contractors submitted bids far above the government’s approved budget, in a move highlighting rising project costs and tighter fiscal discipline in the GCC energy sector. The cancelled tenders were issued by Kuwait Oil Company (KOC), the upstream arm of state-owned Kuwait Petroleum Corporation (KPC), and covered nine major oil and gas infrastructure projects, according to industry sources and regional business reports. The...More