A number of Venezuelan petroleum coke cargoes have been delayed over the past month as a result of a management turnover at state-owned PdV, with the new leadership canceling the prior vessel loading schedule for multiple commodities. PdV's new president Pedro Tellechea in early January suspended all of its internal administrative procedures - including contracts - as the new management team checked that all counterparties had clear accounts with no pending payments and agreements were verified. Tellechea replaced Asdrubal Chavez, one of the last remaining leaders in the government with direct ties to late former Venezuelan president Hugo Chavez.
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