The Associated Press DOHA, Qatar June 11 —

OPEC ministers decided Wednesday to maintain current production levels at least until the end of July, the president of the oil cartel said.

Abdullah bin Hamad al-Attiyah told reporters initially the 11-nation cartel would preserve its output level until its next scheduled meeting in September. But he later said the Organization of Petroleum Exporting Countries would hold an extraordinary meeting on July 31 to reassess the situation.

"Then we will have some options either to cut production or not. That is what we need to decide," al-Attiyah said.

Al-Attiyah, who is also the oil minister of Qatar, said the July meeting would look at the impact of Iraq's return to the oil market.

Oil prices initially moved slightly lower in the wake of the announcement, but were trading higher for the day by early afternoon in New York.

Before the decision was made, Iranian Oil Minister Bijan Namdar Zanganeh said he expected OPEC to maintain current output "for two to three months." Venezuelan Deputy Oil Minister Luis Vierma said he thought OPEC might be able to keep present the production ceiling of 25.4 million barrels a day until the end of the year.

The OPEC ministers also pleaded for greater self-discipline, urging member states to stop exceeding production quotas.

"The conference decided to maintain currently agreed production levels with stricter compliance of designated quotas," OPEC spokesman Omar Farouk Ibrahim told reporters.

Attracted by high prices, member states have been exceeding their designated quotas and have oversupplied the market by about 1.5 million barrels a day.

The oil minister of the United Arab Emirates, Obaid bin Saif al-Nasseri, called for members to respect their quotas.

"The market is comfortable, but we should think ahead to the third quarter," which begins July 1, al-Nasseri said Tuesday.

He estimated overproduction by the 10 OPEC nations, excluding Iraq, at 1.5 million barrels a day. That means the group is pumping 26.9 million barrels a day onto the market.

"We should look into reducing actual production of member states" rather than adjust the ceiling, al-Nasseri said.

"OPEC must be very careful in handling Iraqi's return," Iranian oil minister Bijan Namdar Zanganeh told reporters earlier Wednesday.

Iraq, which was excluded from OPEC's quota schedule during the 12 years of U.N. sanctions, says it hopes to export 1 million barrels a day by the end of June and 2 million barrels a day by the end of the year.

Analysts say that is too optimistic in view of the state of Iraq's oil industry, which suffered war damage, postwar looting, a chronic shortage of spare parts during the sanctions period. Before the war began in March, Iraq pumped around 2.5 million barrels a day.

Members of the 11-nation cartel differed over when Iraq was expected to resume oil exports, and when the OPEC would need to curb production in order to accommodate Iraqi supplies.

"The pace and the extent of the return of Iraqi crude to the market remain unclear," OPEC President Abdullah bin Hamad al-Attiyah said in his opening speech to Wednesday's meeting, at which Iraq was not represented.

Kuwait's acting oil minister, Sheik Ahmad Fahd al-Ahmad, said Iraq needed until September to raise its production to 2 million barrels a day, and that OPEC production could remain unchanged until then.

"From now until September, Iraq will need (to do) a lot to reach the level of production," Sheik Ahmad said. "For that, we still have time to continue our ceiling."

OPEC's al-Attiyah foresees Iraq pumping 1 million barrels a day of oil by the third quarter. He has urged producers to take steps to avoid a glut and price crash.

An OPEC meeting before the scheduled one in September had been seen as necessary to discuss not only Iraq's return but also the high level of oil prices. Prices have hovered around the upper limit of OPEC price band of $22 to $28 a barrel.

OPEC's basket of seven crude oils averaged $27.53 a barrel on Monday. Oil prices hit a three-month high in New York, nearly reaching $32 a barrel.

On Wednesday, July contracts of light sweet crude were up 62 cents at $32.35 a barrel in afternoon dealings in New York. In London, North Sea Brent for July rose 32 cents to $28.40.

If OPEC members do manage to comply with their quotas, an American national industry report has predicted that U.S. consumers may have to pay more per gallon as demand increases during the summer vacation months.

"Gasoline prices are already rising in some parts of the country on a spotty basis," the Lundberg Survey of 8,000 stations reported Sunday. "Considering the latest crude oil developments, it's likely gasoline prices are turning round and will soon rise."

Non-OPEC producers are also concerned about the impact of Iraqi oil when it comes on stream. Russia and Mexico sent delegates to the Wednesday meeting.

<a href=www.agweb.com>AGWeb.com by Guest Editorial by John Reifsteck, Champaign, IL, Board Member

Too much of our national discussion on energy policy has focused on the Arctic National Wildlife Refuge. This center-stage debate really ought to be nothing more than a sideshow. We should spend less time arguing about drilling for oil and more time thinking about how we might grow our fuel instead.

At last, Congress is on the brink of passing new legislation on biofuels. A vital component of a big energy bill now includes refinery requirements that would double the nation's use of ethanol.

That's great news for farmers, workers, and motorists. A recent study by the National Association of Farm Growers says that doubling the use of ethanol would increase farmers' incomes by $1.3 billion per year, create 214,000 jobs, and lower the price of gasoline at the pump.

Yet, there's much more at stake here. About 56 percent of our country's oil is imported--and this figure is expected to go up in the years ahead. We're simply becoming too reliant on the natural resources of foreign countries. It's great that we can trade with them, but our energy needs are too critical to leave them vulnerable to the whims of political rulers in places like Iran and Venezuela.

Ethanol now supplies 1 percent of America's motor fuel, so doubling its use wouldn't free the United States from its dependence on foreign oil. But it's a start. As the Washington Post noted last week, "If [ethanol] production doubled to 5 billion gallons in 2012, it would displace about 200 million barrels of oil that would otherwise be imported by U.S. refiners to make gasoline--roughly the amount of oil imports from Iraq in 2002."

There have been a couple of arguments against biofuels; producing them is too expensive, and it takes more energy to produce them than they provide to motorists. That's not true. The latest data from the federal government suggest that ethanol creates more energy than it uses. "The amount of energy needed to produce ethanol is about 30 percent less than the value of ethanol as a fuel," says Blake Early of the American Lung Association--a group that backs the new energy provision in Congress because it would lead to cleaner air. Furthermore, we are getting more efficient at producing biofuels. Higher yielding crops along with more efficient manufacturing means biofuels are getting more competitive with petroleum-based fuels every day.

These new figures are encouraging, and the number-crunchers have a significant role to play in determining the costs and benefits of ethanol. But they also miss some of the big-picture questions that can't be compressed into an accountant's spreadsheet.

What, for instance, is the cost of our country's involvement in the Persian Gulf? Perhaps we can assign a dollar value to it--but even that only captures a portion of the real burden. There are political and diplomatic costs as well. Wouldn't it be great if we could free ourselves entirely from our dependence on the oil reserves in Iraq, or some similar country? The more you think about it, the better home-grown biofuels look.

In his Farewell Address to the nation, George Washington warned America against entangling alliances. The father of our country could not have envisioned today's fuel-driven technologies, but his words still matter. And what could be more entangling than our heavy reliance on foreign oil?

Developing more resources here at home won't solve all of our energy problems, but it's a step in the right direction. We need a firm commitment to biofuels, and not just ethanol. At Southern Illinois University, researchers are studying how to turn everything from discarded cornhusks to chicken droppings into the fuel that can power our planes, trains, and automobiles. In Europe and Asia, biodiesel is the popular "green fuel" of choice and North American consumers are steadily increasing their support of this renewable, environmentally friendly fuel.

Biotechnology is an important partner in this quest. Through the miracle of genetics, we've built a better corn plant that wards off pests, conserves soil, and boosts yield. In the future, we may create one that's an even more efficient producer of the fuel we need. When we as consumers continue to look for and use renewable, environmentally friendly energy choices, industry will continue to invest in new technologies that have the promise of improving the efficiencies even more. That's a win.

Before we get there, however, we'll need a firm commitment from the federal government signaling that it understands the nature of the problem--as well as the promise of the solution.

Truth About Trade and Technology (www.truthabouttrade.org) is a national grassroots advocacy group based in Des Moines, IA formed by farmers in support of freer trade and advancements in biotechnology.

June 11 (<a href=quote.bloomberg.com>Bloomberg) -- Venezuela plans to offer to swap tomorrow 750 billion bolivars ($469 million) of domestic debt coming due this month in an effort to push back debt payments and alleviate a cash crunch.

The government will offer new bonds that mature in between two years and three-and-a-half years with coupons between 31.8 percent and 37.8 percent, the central bank said on its Web site.

The exchange will be the eighth since November, as the government tries to stretch out debt payments to cope with a loss of about $4 billion in revenue in December and January from a strike aimed at ousting President Hugo Chavez. Tax officials said last month the country's worst recession ever had cut tax collection. The economy shrank 29 percent in the first quarter.

The government is funding the deficit by tapping local markets or attempting to extend payments on local debt. Venezuela has about $22.4 billion in international debt and $7.4 billion in domestic debt.

The government swapped about $2.7 billion in domestic debt last year and another $445 million this year.

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Wednesday, June 11, 2003 By: Gustavo Coronel

VHeadline.com commentarist Gustavo Coronel writes: In Sabana del Medio, where I have my home, some 20 kilometers west of Valencia, the time of mangoes has come again. The whole area abounds in ancestral mango trees.

Each year the process is repeated. In March the trees are in full bloom, in April the sporadic rains start, get to be more frequent in May, giving almost everybody a mild case of intestinal upset called "mayo."

By the end of May the fruit is well developed and slowly turning color. In June, it ripens and mangoes start falling down ... blanketing the countryside and the streets of the village without the villagers paying much attention.

Nobody would be seen picking a mango from the ground since this would entail losing face, admitting to being needy enough to eat ... a mango, of all things.  And yet, the mango is one of the most delicious fruits we can eat ... the varieties are endless.

On my property, I planted about 15 mango trees and each one carries a different variety of fruit. The smaller ones, called "de bocado," are probably the best in flavor. Bocado means that one can eat such a mango almost in single bite due to its tiny size. They're usually very compact and resistant to the bite.

I also have some "manga" trees ... this variety was one of the earliest types of graft, bigger than the local varieties but keeping much of the original flavors and acidity. This "mangas" remind people of my generation of their childhood, because they were very popular in those days.

There are some modern graft varieties which are big ... say two pounders ... with a marvelous multicolor skin when growing ripe ... they're extremely juicy and sweet, and it is very difficult to bite into one without getting the juice cascading all over your arms and shirt ... what could justifiably be termed succulent.

And, then I also have a couple of trees which give enormous mangoes, easily four pounds or more, which are, however, rather insipid. They are called "burreros," possibly because of the size or, perhaps, because they are more adequate for donkeys.

Even within each variety there are complex nuances of taste ... like in dealing with wines one could distinguish citric, pear or apricot components when tasting. It might not get as sophisticated as a mango having to be defined as somewhat tart ... with reminiscences of apricot and vanilla and the long finish of a Corton Charlemagne (from the House of Louis Jadot, please...) ... but mango-tasting definitely calls for alert tastebuds.

I have often felt that mango time in our area could become as touristicaly famous, as the cherry blossoms of the Potomac Basin in Washington DC. During the first week of April the cherry trees around the Washington monuments are in bloom and attract hundreds of thousands of visitors to admire them ... and to eat and drink and stay at hotels and who knows what else ... this marvel of nature becomes a multimillion dollar industry.

As I go past the streets of the village, littered with mangoes, I cannot help thinking that, in Maryland, somebody must be paying $1.50 for a rather wrinkled mango at a Giant Food Market  ... and I start to see dollar signs at every corner.

The village is called Barrera, next to Sabana del Medio. It's located about two miles from the site of the Battle of Carabobo ... as a sacred historical ground for us, as Gettysburg is for Americans.

I dream of the Barrera International Mango Fair ... it would combine gastronomical wonders based on mangoes, jelly, preserves, chutneys, fresh salads, with exhibitions of regional art and crafts and music festivals, including classical music (there is a good symphony orchestra in Valencia).

Increasingly the Barrera International Mango Fair would start giving the cherry blossom a run for its money.

In the World, many small cities or even villages, have become internationally renowned due to the excellence of some event ... Montreux is a small city of some 25,000 people but, during the Jazz Festival, swells to more than 100,000 ... or at least that is what my musical coordinator cousin Jose tells me.

Woodstock, a small town in Massachusetts, became internationally known for its hippie gatherings, the flower children ... so, I think Barrera has a good chance ... its proximity to the field of Carabobo would be an additional asset, as visitors could attend tasteful reconstructions of the battle, together with entire armies dressed in their multicolored uniforms.  Perhaps our armed force would be induced to participate ... small shops could sell all kinds of patriotic souvenirs.

Several years ago, I started visiting some villagers to talk to them about this idea. Their reaction was often enthusiastic. They all felt inclined to participate "as soon as the government provided them with the required seed money and made the improvements in infrastructure that such a project would demand."  The national government is still considering their reply to my initial inquiry ... the Mayor of the nearby town, Tocuyito, felt that Barrera was home to many political adversaries, but he would consider the possibility. The Symphony orchestra had gone into hibernation due to lack of funds ... so, I gradually cooled down and forgot about the whole thing.

It is only in June, as I drive through Barrera and see the wonderful mango trees giving us their fruit once more, that I remember ... but every year the memory is more like a dull ache in my heart and less like a song in my ear.

Gustavo Coronel is the founder and president of Agrupacion Pro Calidad de Vida (The Pro-Quality of Life Alliance), a Caracas-based organization devoted to fighting corruption and the promotion of civic education in Latin America, primarily Venezuela. A member of the first board of directors (1975-1979) of Petroleos de Venezuela (PDVSA), following nationalization of Venezuela's oil industry, Coronel has worked in the oil industry for 28 years in the United States, Holland, Indonesia, Algiers and in Venezuela. He is a Distinguished alumnus of the University of Tulsa (USA) where he was a Trustee from 1987 to 1999. Coronel led the Hydrocarbons Division of the Inter-American Development Bank (IADB) in Washington DC for 5 years. The author of three books and many articles on Venezuela ("Curbing Corruption in Venezuela." Journal of Democracy, Vol. 7, No. 3, July, 1996, pp. 157-163), he is a fellow of Harvard University and a member of the Harvard faculty from 1981 to 1983.  In 1998, he was presidential election campaign manager for Henrique Salas Romer and now lives in retirement on the Caribbean island of Margarita where he runs a leading Hotel-Resort.  You may contact Gustavo Coronel at email gustavo@vheadline.com

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Wednesday, June 11, 2003 By: Patrick J. O'Donoghue

Inter American Human Rights Commission (IAHRC) president, Marta Altoaguirre has placed Venezuela in the same league with Colombia, Haiti and Cuba as countries where greatest human rights violations take place. 

The Guatemalan lady does not specify the human rights violated in Venezuela,  except to express a general concern about the "political polarization which has made peaceful co-existence among citizens impossible." 

Altoaguirre says the Venezuelan government is one of the promoters of the polarization process which leads to violence and the impossibility of reaching a pacific agreement. 

The Venezuelan government comes under fire for allegedly failing to disarm civilians and for not fixing a date for a IAHRC delegation to visit Venezuela to verify human rights violations ... "no arguments have been forwarded about the visit and the government prefers that we don't repeat the visit."

Referring to neighboring Colombia, Altoaguirre says the Revolutionary Armed Forces of Colombia (FARC) is the biggest HR violator ... the Colombian government apparently is given a clean bill of health.