Read More Reuters, 03.27.03, 5:36 PM ET By Ana Isabel Martinez

CARACAS, Venezuela, March 27 (Reuters) - Income from Venezuela's vital oil exports is slowly flowing again into the central bank coffers after a two-month opposition strike battered the petroleum industry and cut revenues to a trickle, a senior bank official said on Thursday. Venezuela's oil income collapsed dramatically during December and January when opposition leaders and dissident state oil workers spearheaded an economic shutdown aimed at ousting leftist President Hugo Chavez. Central bank director Armando Leon told Reuters that state oil firm Petroleos de Venezuela (PDVSA) has transferred on average about $150 million a week to the bank since the start of March. Those transfers this week included an additional $550 million as part of delayed payments. "The flow of payments from PDVSA to the Central Bank has been reactivated. But it is below the level it was before the strike," Leon said in a telephone interview. Leon's comments came amid growing speculation about how far the world's No. 5 oil exporter has managed to restore the flow of its much-needed oil dollars even as it ramped up crude production severely disrupted by the two-month strike. Leon said PDVSA has forecast it will transfer about $200 million to $400 million weekly between April and the middle of May to the central bank. "If that flow is maintained with a combination of optimum prices and volumes, oil export earnings will be around $1 billion a month, which will allow international reserves to increase or stay stable even with impending foreign debt payments," he said. During periods of high oil prices, PDVSA has managed to hand over to the Central Bank on average around $1.2 billion a month or $14.4 billion per year. COLLAPSE OF OIL INCOME Chavez described the opposition strike as a "blow to the economic heart of the nation." The stoppage fizzled by February as many businesses reopened in the face of bankruptcy. Chavez has rebuffed opposition calls for early elections. According to Leon, the central bank only received about $200 million in February from oil exports and in January that income was "very low" because the government had to pay for huge gasoline imports to offset domestic shortages. The government, which has fired more than 16,000 PDVSA employees for taking part in the protest, says it has managed to restore oil production and the exports that account for half of state revenues. Still, Venezuela's oil-reliant economy contracted about 9 percent during 2002 and most analysts forecast that it will continue its downward slide in 2003 because of the lingering aftershocks of the crippling strike. Government officials now put oil production at around 3.1 million barrels per day (bpd) -- similar to levels reported in November before the strike -- and say crude exports have reached around 2.8 million bpd. But former PDVSA workers estimate that oil production is closer to 2.45 million bpd. Analysts have cast doubt on how far Venezuela can reactivate its strike-hit oil sector and say those difficulties will be reflected in its international reserves. Reserves fell dramatically as political instability drove capital out of the country and battered the local bolivar currency's value against the U.S. dollar. That crisis forced the government to close the foreign exchange market from Jan. 22 and later introduce strict currency controls that cut off dollars even to priority sectors such as food, medicine and primary goods. Central Bank reserves stood at $12.94 billion on March 25 compared with $11.24 billion at the end of January. Reserves including the government's FIEM rainy-day savings fund rose from $13.83 billion in January to $14.35 billion on March 25. Before the strike, Central Bank reserves were at $12.49 billion and total reserves were at $15.84 billion. Leon said that a rise in reserves had not been evident because Venezuela had paid $950 million in external public debt obligations during the first quarter of this year. "One must recognize that despite the complicated economic situation there was cash to deal with these obligations. The payments for this year are tough, but they will not be crushing if income is efficiently managed," he said. Leon said that in the second quarter Venezuela must pay around $1.2 billion in external public debt obligations with most concentrated in June when payments total around $800 million. For the second half, those payments total around $2.2 billion, he said.

Read More 22/03/03

The United States Men’s National Team will host Venezuela on March 29 at Seattle Seahawks Stadium in Seattle, following the decision of the Japanese Football Association to cancel their two-match U.S. tour. Kickoff for the first international soccer match at the new stadium is set for 1 p.m. PT, and will be broadcast live on ESPN2. Fans can follow the action live online via ussoccer.com’s MatchTracker, presented by Philips Electronics.

“We are certainly disappointed by the decision of the Japanese Football Association,” said U.S. Soccer President S. Robert Contiguglia. “We provided their federation with ample evidence of the extensive security measures in place, and we continue to have every confidence that Seattle will provide a safe environment for the players and fans to enjoy an outstanding display of soccer. Sporting events around the country remain on schedule, and we look forward to welcoming Venezuela to Seattle.”

Japan was scheduled to play Uruguay on March 26 at Qualcomm Stadium, then travel to meet the U.S. in Seattle three days later.

The United States and Venezuela have met only once before, with the teams battling to a 3-3 draw in the Copa America in 1993. The Venezuelans collected five victories in 2002 World Cup qualifying, including four of their last five matches, marking the most wins ever in their qualifying history.

“We’re excited that Venezuela has accepted the invitation to play us,” said U.S. Manager Bruce Arena. “Over the past two or three years, the Venezuelan national team has made great strides, and I think they are perhaps the most improved team in South America. We are certainly looking forward to the challenge.”

Tickets ranging in price levels from $20 to $70 are still on sale at all Ticketmaster outlets throughout Washington, Oregon and British Columbia, at the Seahawks Stadium ticket office, by phone (Seattle 206-628-0888; Tacoma 253-627-8497), and on-line at www.ussoccer.com. Groups of 20 or more can order through U.S. Soccer at 312-528-1290.

Tickets for the USA vs. Japan match will be valid for the game against Venezuela. Fans wishing to obtain a refund must make their cancellation by Friday, March 28, at 5 p.m. PT by returning tickets to their original point of purchase. Fans who ordered through Ticketmaster via phone or internet should call Ticketmaster directly or visit www.ticketmaster.com for further details. Refunds will be issued using the same form of payment originally used by the purchaser.

The United States is continuing preparation for participation in two major tournaments this summer. In June the U.S. will square off against Brazil, Cameroon and Turkey in the FIFA Confederations Cup from June 18-29 in France, and the USA will defend its Confederation championship in the 2003 CONCACAF Gold Cup to be held from July 12-23 in Boston, Miami and Mexico City.

The U.S. is slated to face Mexico on May 8 at Reliant Field in Houston, and will host Paraguay in a preparation match for the Gold Cup July 6 at Columbus Crew Stadium.

courtesy of www.ussoccer.com

Read On 25/03/03

The 18-man U.S. roster for the March 29 match traveled to Portland on Monday for a week-long training camp, reuniting ten players from the U.S. squad that made an historic run to the quarterfinals of the 2002 World Cup in Korea/Japan.

"Over the past two or three years, the Venezuelan national team has made great strides, and I think they are perhaps the most improved team in South America," Arena told US Soccer. "We are certainly looking forward to the challenge."

Included in the roster is Washington native Kasey Keller, second on the USA's all-time goalkeeping list for wins (31) and shutouts (28), who has collected an astonishing 13-0-4 record on home soil since 1998.

Also returning is the striker tandem of Brian McBride and Landon Donovan, who together scored four of the USA's seven goals in Korea/Japan.

The camp also marks the reunion of the midfield corps of Pablo Mastroeni, John O'Brien, DaMarcus Beasley and Earnie Stewart, who last took the field together as starters in the 3-2 upset victory against Portugal in the USA's opening match.

Once again, MLS players dominate the roster, with 14 of the 18 now playing domestically.

The following is the U.S. roster for the March 29 match:

GOALKEEPERS (2): Tim Howard (MetroStars), Kasey Keller (Tottenham Hotspur)

DEFENDERS (5): Carlos Bocanegra (Chicago Fire), Steve Cherundolo (Hannover 96), Nick Garcia (Kansas City Wizards), Frankie Hejduk (Columbus Crew), Eddie Pope (MetroStars)

MIDFIELDERS (7): DaMarcus Beasley (Chicago Fire), Bobby Convey (D.C. United), Chris Klein (Kansas City Wizards), Kyle Martino (Columbus Crew), Pablo Mastroeni (Colorado Rapids), John O'Brien (Ajax Amsterdam), Earnie Stewart (D.C. United)

FORWARDS (4): Edson Buddle (Columbus Crew), Landon Donovan (San Jose Earthquakes), Jovan Kirovski (Birmingham City), Brian McBride (Columbus Crew).

Press Release courtesy of www.ussoccer.com

See Reference28/03/03

Venezuela coach Richard Paez is shrugging off the short timeframe for their U.S. friendly in Seattle to pin some hopes on his world #69-ranked side.

The perennial CONMEBOL also-rans, who have been touted as one of the most improved teams in the hemisphere, are standing in for Japan with a week to prepare.   "I'm optimistic because I believe in my boys, their ability and skill, despite the late notice,” Paez declared. "Our goal is to test ourselves and see if Venezuela has the confidence to play at the world level.”

”It's essential that we play friendlies with teams that have Fifa's best rankings.”

The two nations last met on the pitch in the 1993 Copa America with Venezuela rallying from 3-0 down for a draw.

Soccer

For the past thirteen years, Earnie Stewart has been a regular on the U.S. National team roster.  In that time he has earned 84 caps and should add to that count when the U.S. plays Venezuela on Saturday in Seattle.

And while the veteran player has considered retiring from the international game, he still is having so much fun and continues to make solid contributions on the field that he has temporarily put any thought of retiring on hold.

“I thought about (retiring),” Stewart told US Soccer.  “I think I even said to some teammates that 2002 would be my last year.  Then again, I’ve had so much fun.  If you can still do something for soccer and for your country, why retire?” 

“Even if it’s only one or two more games, it’s still something that I enjoy.  I wouldn’t say it’s a decision making process; it’s more of me letting things happen.  I just want to go forward and enjoy life and soccer to the fullest.  I’ve always had a great feeling representing the United States.  In every one of the 84 times I’ve played for the national team, when they play the “Star Spangled Banner” I get goose bumps."

The soon-to-be 34 year old (Stewart’s birthday is on Friday March 28) does, however realize that with so much young talent his career is in its twilight.

“Not at all.  I could understand that Bruce (Arena) would want to go in a certain way, needing to look at younger players with World Cup qualifying about a year away.  The team has to keep going forward.  I was pleasantly surprised that my name was still up there to be called in.  I’m still very honored.”

“If this turns out to be my last camp, so be it.  I’ve had a great ride.”

Stewart’s playing days with the Star and Stripes could be extended with his recent move to MLS and D.C. United in January.  As his free transfer to the top U.S. domestic league will allow Arena to call on the veteran more for domestic matches.

Kickoff for the first international soccer match at the new stadium is set for 1 p.m. PT, and will be broadcast live on ESPN2.  Fans can follow the action live online via ussoccer.com’s MatchTracker, presented by Philips Electronics.

Click here for a complete transcript of the US Soccer interview