PLATTS - China's crude imports from Venezuela surged 50.7% month on month to 411,000 b/d or 1.74 million mt in January, posting the fifth month in a row of increase after hitting a four-year low last September, data released by the General Administration of Customs showed

PLATTS - The US is set to impose "even stronger sanctions" on Venezuela President Nicolas Maduro's financial networks, likely further hindering crude oil production and exports as US sanctions on state-owned oil company PDVSA entered their fifth week, US Vice President Mike Pence said Monday.

WNN - India and Argentina have agreed to boost cooperation in the nuclear energy sector with the signing of a Memorandum of Understanding on 18 February by India’s Global Centre for Nuclear Energy Partnership and Argentina's National Atomic Energy Commission during Argentine President Mauricio Macri's state visit to Delhi this week.

EIA - Recently announced U.S. sanctions directed at Venezuela’s energy sector and state oil company, Petróleos de Venezuela, S.A. (PDVSA), will essentially eliminate U.S. imports of Venezuelan crude oil as the full effects of the sanctions emerge. However, the U.S. Energy Information Administration (EIA) does not anticipate any significant decrease in U.S. refinery runs as a result of these sanctions.

PLATTS- Russian energy minister Alexander Novak said Wednesday that he does not currently see a need to take any extra measures or call for an extra meeting by the OPEC/non-OPEC group over the crisis in Venezuela. "We haven't discussed the situation with [Saudi energy] minister Falih, or other ministers," Novak told reporters. "The markets are currently calm ... and the volatility is insignificant. So there is no need for the extra meeting of OPEC+, at least the Russian side thinks so."

PLATTS- US refiners cannot rely on Mexico to replace Venezuelan heavy oil imports as the country is battling to reverse its declining production and Pemex's oil is sold under contractual basis, analysts and others say.

OGJ - “The sanctions will affect refinery margins in the US. Now they will have to import heavy crude from the Middle East at a premium. US refiners will be amongst the biggest losers, as we have noted earlier,” Rodriguez-Masiu said.

PLATTS - The Trump administration announced Monday that it will sanction PDVSA, Venezuela's state-owned oil company, a move that could suspend roughly 500,000 b/d of Venezuelan crude exports to US Gulf Coast refineries and shut down US exports of diluents to the South American nation.

REUTERS - China has lent over $50 billion to Venezuela through oil-for-loan agreements over the past decade, securing energy supplies for its fast-growing economy.

IMF - Economic activity in Latin America continues to rise, but at a slower rate than previously anticipated. Overall, the region is expected to advance by 2 percent in 2019 and 2.5 percent in 2020—still well below peer countries in other regions.

PLATTS - Chevron, PBF Energy, Valero and Citgo, which is owned by PDVSA, are the largest US refiners of Venezuelan crude, according to the US Energy Information Administration. Spokesmen for those four companies did not respond to requests for comment Wednesday.

PLATTS - The US Energy Information Administration forecasts that Venezuelan oil production will fall below 1 million b/d in the second half of 2019, according to Erik Kreil, an international energy analysis team leader with the EIA.

BLOOMBERG - Home to the world’s biggest crude reserves, Venezuela exported 1.245 million barrels a day last year, the lowest since 1990, as production tumbles amid an economic and humanitarian crisis. Financial sanctions imposed by the U.S. have further tightened the screws on Venezuela’s ailing economy, while creditors have sought seize its assets including oil cargoes and its prized Citgo refineries in the U.S.

PLATTS - Brazilian state-led oil company Petrobras registered a 1.4% month-on-month slide in domestic crude oil output in November as ongoing maintenance work at offshore floating production units offset fresh flows from new wells.

IMF - Bolivia's real GDP growth is projected at 4.5 percent in 2018, one of the highest rates in the region. Growth is supported by continued accommodative policies, a second economy-wide wage bonus, and strong agriculture output.