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EXCLUSIVE-Venezuela's PDVSA freezes most oil exports for contract reviews

HOUSTON, Jan 17 (Reuters) - The new head Venezuela’s state oil company PDVSA has suspended most oil export contracts while his team reviews them, according to an internal document seen by Reuters and two people familiar with the matter.

The freeze is leading to port delays, as vessels that were loading have been sent away and are waiting for new directions, the people said.

New Chief Executive Rafael Tellechea last week wrote to the heads of the company’s divisions of supply and trade, domestic market, international market, finances and foreign affairs and notified them of the contract suspensions. The letter did not specify how long the freeze would last.

Reporting by Marianna Parraga Editing by Marguerita Choy

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