Ecopetrol SA reported that its wholly owned subsidiary Hocol Petroleum Ltd. has formed a new company, Ecopetrol Costa Afuera Colombia SAS, which will be responsible for offshore exploration and production activities in Colombia. Currently, offshore E&P work is being carried out by Ecopetrol, both as operator and non-operator. Source: News

Confusion over ethanol evident in the Republican presidential debate Jan. 28 makes comforting the news that Iowans show fading concern about the issue. Source: News

Chevron Corp. ended 2015 with the company’s first quarterly loss since 2002, posting full-year earnings of $4.6 billion, compared with earnings of $19.2 billion in 2014. Source: News

Chevron South Africa (Pty.) Ltd., a subsidiary of Chevron Corp., has reported it will undertake annual routine safety and maintenance inspections at its 110,000-b/d Cape Town refinery at Milnerton, South Africa, starting in February. Source: News

Light, sweet crude prices settled above $33/bbl on the New York market Jan. 28 and Brent crude oil did the same on the London market. The gains followed comments by Russian energy officials that they would talk with the Organization of Petroleum Exporting Countries next month about output. Source: News

Production from the Canadian oil sands will increase through 2040 even if pipeline capacity remains constrained, says the National Energy Board of Canada. Source: News

Alaska Gov. Bill Walker (I) notified three Alaska North Slope oil and gas producers that he will consider other ways to generate revenue for the state if more progress is not made on reaching operating milestones for the Alaska Liquefied Natural Gas Project before the legislature completes its regular session. Source: News