LONDON (Bloomberg) - OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway to Guyana threaten the group’s efforts to defend crude prices.

HOUSTON - Gulf Energy Information announced the availability of EWA TechLink, a new spatial research tool pairing comprehensive technical content with detailed project data.

The Reservoir Management and Field Development Division of the Research Institute of Petroleum Industry (RIPI) is a dynamic specialized and scientific center seeking to bring about new changes in the upstream petroleum industry based on modern technologies and latest scientific achievements.

Iranian Central Oil Fields Company (ICOFC) has installed the first drilling rig of Danan oil field’s development project, aiming for the field’s maintenance and enhancing its oil production, Shana reported.

In line with maintenance and enhancement of oil production, drilling operation of 18 wells in three ICOFC fields is underway through EPD/EPC contracts.

Iranian Ministry of Petroleum has set up a new initiative to support domestic manufacturers by guaranteeing purchase of their quality items needed in the petroleum industry.

Head of Iran’s Planning and Budget Organization (PBO) said the oil revenues in budget bill for the next Iranian calendar year (starts on March 20, 2020) are estimated on the expectations of selling one million barrels per day (bpd) of oil at an average price of $50.

The CEO of PetroIran Development Company announced its plans for mass-production of multiphase pumps in collaboration with local manufacturers.

The National Iranian Oil Company (NIOC) has planned to put for sale 6 million barrels of crude oil and gas condensate on the Iran Energy Exchange (IRENEX) next week.

Iran’s South Zagros Oil and Gas Production Company (SZOGPC) has indigenized construction of borehole imagers which was previously monopolized by a few foreign companies.