Venezuelan Government-owned oil and natural gas company PDVSA has signed two new petroleum coke contracts this month, reported Reuters, citing internal company documents.
Under the contracts, PDVSA aims to export up to 1.6 million metric tonnes of petroleum coke in 2023.
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Of the 1.6 million metric tonnes, one million will be exported to Latif Petrol, a Turkish entity, during the second half of the year.
The second deal is with Reussi Trading, a company based in St. Vincent and the Grenadines, with deliveries scheduled through September.
The agreements would replace almost 70% of the exports that Geneva-registered Maroil Trading was scheduled to transport this year.
Last month, PDVSA suspended the contract with Maroil following concerns regarding receivables and the validity of the contract.
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By GlobalDataA general audit conducted by PDVSA earlier this year revealed more than $21bn (604.8bn bolivars) in accounts receivable, including $424m allegedly owed by Maroil.
A request for response from PDVSA was not answered and Reussi Trading and Latif Petrol could not be reached for comment, reported the news agency.
Power plants and cement kilns use fuel-grade petroleum coke produced in Venezuela, since it has a very high heating value and produces almost no ash when burned.
Last month, PDVSA restarted the catalytic cracking unit at its El Palito refinery to address the shortage of fuel in the South American nation.
