July 23, 2014, 9:38 am
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1 Philippine Peso = 0.0844 UAE Dirham
1 Philippine Peso = 2.38224 Albanian Lek
1 Philippine Peso = 0.04075 Neth Antilles Guilder
1 Philippine Peso = 0.18744 Argentine Peso
1 Philippine Peso = 0.02451 Australian Dollar
1 Philippine Peso = 0.04113 Aruba Florin
1 Philippine Peso = 0.04596 Barbados Dollar
1 Philippine Peso = 1.78136 Bangladesh Taka
1 Philippine Peso = 0.03323 Bulgarian Lev
1 Philippine Peso = 0.00866 Bahraini Dinar
1 Philippine Peso = 35.59283 Burundi Franc
1 Philippine Peso = 0.02298 Bermuda Dollar
1 Philippine Peso = 0.02853 Brunei Dollar
1 Philippine Peso = 0.15878 Bolivian Boliviano
1 Philippine Peso = 0.05144 Brazilian Real
1 Philippine Peso = 0.02298 Bahamian Dollar
1 Philippine Peso = 1.38614 Bhutan Ngultrum
1 Philippine Peso = 0.20352 Botswana Pula
1 Philippine Peso = 236.67279 Belarus Ruble
1 Philippine Peso = 0.04584 Belize Dollar
1 Philippine Peso = 0.02466 Canadian Dollar
1 Philippine Peso = 0.02064 Swiss Franc
1 Philippine Peso = 13.04871 Chilean Peso
1 Philippine Peso = 0.14265 Chinese Yuan
1 Philippine Peso = 43.1296 Colombian Peso
1 Philippine Peso = 12.39085 Costa Rica Colon
1 Philippine Peso = 0.02298 Cuban Peso
1 Philippine Peso = 1.84926 Cape Verde Escudo
1 Philippine Peso = 0.46638 Czech Koruna
1 Philippine Peso = 4.18313 Djibouti Franc
1 Philippine Peso = 0.12676 Danish Krone
1 Philippine Peso = 0.9915 Dominican Peso
1 Philippine Peso = 1.83789 Algerian Dinar
1 Philippine Peso = 0.26601 Estonian Kroon
1 Philippine Peso = 0.16426 Egyptian Pound
1 Philippine Peso = 0.45358 Ethiopian Birr
1 Philippine Peso = 0.017 Euro
1 Philippine Peso = 0.04218 Fiji Dollar
1 Philippine Peso = 0.01345 Falkland Islands Pound
1 Philippine Peso = 0.01347 British Pound
1 Philippine Peso = 0.08002 Ghanaian Cedi
1 Philippine Peso = 0.91222 Gambian Dalasi
1 Philippine Peso = 157.16912 Guinea Franc
1 Philippine Peso = 0.17827 Guatemala Quetzal
1 Philippine Peso = 4.72656 Guyana Dollar
1 Philippine Peso = 0.17811 Hong Kong Dollar
1 Philippine Peso = 0.48196 Honduras Lempira
1 Philippine Peso = 0.12948 Croatian Kuna
1 Philippine Peso = 1.02711 Haiti Gourde
1 Philippine Peso = 5.26884 Hungarian Forint
1 Philippine Peso = 267.92279 Indonesian Rupiah
1 Philippine Peso = 0.07877 Israeli Shekel
1 Philippine Peso = 1.38948 Indian Rupee
1 Philippine Peso = 26.73254 Iraqi Dinar
1 Philippine Peso = 598.92004 Iran Rial
1 Philippine Peso = 2.63097 Iceland Krona
1 Philippine Peso = 2.57698 Jamaican Dollar
1 Philippine Peso = 0.01629 Jordanian Dinar
1 Philippine Peso = 2.32893 Japanese Yen
1 Philippine Peso = 2.01631 Kenyan Shilling
1 Philippine Peso = 1.18856 Kyrgyzstan Som
1 Philippine Peso = 93.06066 Cambodia Riel
1 Philippine Peso = 8.36867 Comoros Franc
1 Philippine Peso = 20.68015 North Korean Won
1 Philippine Peso = 23.67073 Korean Won
1 Philippine Peso = 0.00649 Kuwaiti Dinar
1 Philippine Peso = 0.01884 Cayman Islands Dollar
1 Philippine Peso = 4.22151 Kazakhstan Tenge
1 Philippine Peso = 185.14476 Lao Kip
1 Philippine Peso = 34.82307 Lebanese Pound
1 Philippine Peso = 2.99299 Sri Lanka Rupee
1 Philippine Peso = 2.12546 Liberian Dollar
1 Philippine Peso = 0.24644 Lesotho Loti
1 Philippine Peso = 0.0587 Lithuanian Lita
1 Philippine Peso = 0.01194 Latvian Lat
1 Philippine Peso = 0.02844 Libyan Dinar
1 Philippine Peso = 0.19027 Moroccan Dirham
1 Philippine Peso = 0.32089 Moldovan Leu
1 Philippine Peso = 1.0455 Macedonian Denar
1 Philippine Peso = 22.38051 Myanmar Kyat
1 Philippine Peso = 41.99219 Mongolian Tugrik
1 Philippine Peso = 0.18345 Macau Pataca
1 Philippine Peso = 6.68428 Mauritania Ougulya
1 Philippine Peso = 0.70772 Mauritius Rupee
1 Philippine Peso = 0.35363 Maldives Rufiyaa
1 Philippine Peso = 9.09972 Malawi Kwacha
1 Philippine Peso = 0.29826 Mexican Peso
1 Philippine Peso = 0.07316 Malaysian Ringgit
1 Philippine Peso = 0.24503 Namibian Dollar
1 Philippine Peso = 3.72128 Nigerian Naira
1 Philippine Peso = 0.59777 Nicaragua Cordoba
1 Philippine Peso = 0.14209 Norwegian Krone
1 Philippine Peso = 2.2261 Nepalese Rupee
1 Philippine Peso = 0.02649 New Zealand Dollar
1 Philippine Peso = 0.00885 Omani Rial
1 Philippine Peso = 0.02298 Panama Balboa
1 Philippine Peso = 0.06412 Peruvian Nuevo Sol
1 Philippine Peso = 0.05606 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.27022 Pakistani Rupee
1 Philippine Peso = 0.0705 Polish Zloty
1 Philippine Peso = 97.14131 Paraguayan Guarani
1 Philippine Peso = 0.08366 Qatar Rial
1 Philippine Peso = 0.07549 Romanian New Leu
1 Philippine Peso = 0.80671 Russian Rouble
1 Philippine Peso = 15.625 Rwanda Franc
1 Philippine Peso = 0.08618 Saudi Arabian Riyal
1 Philippine Peso = 0.16586 Solomon Islands Dollar
1 Philippine Peso = 0.28274 Seychelles Rupee
1 Philippine Peso = 0.13057 Sudanese Pound
1 Philippine Peso = 0.15698 Swedish Krona
1 Philippine Peso = 0.02852 Singapore Dollar
1 Philippine Peso = 0.01345 St Helena Pound
1 Philippine Peso = 0.51025 Slovak Koruna
1 Philippine Peso = 100.4136 Sierra Leone Leone
1 Philippine Peso = 21.69118 Somali Shilling
1 Philippine Peso = 416.81985 Sao Tome Dobra
1 Philippine Peso = 0.20099 El Salvador Colon
1 Philippine Peso = 3.4375 Syrian Pound
1 Philippine Peso = 0.24551 Swaziland Lilageni
1 Philippine Peso = 0.73874 Thai Baht
1 Philippine Peso = 0.03957 Tunisian Dinar
1 Philippine Peso = 0.04243 Tonga Pa'ang
1 Philippine Peso = 0.04885 Turkish Lira
1 Philippine Peso = 0.14645 Trinidad Tobago Dollar
1 Philippine Peso = 0.68955 Taiwan Dollar
1 Philippine Peso = 38.17785 Tanzanian Shilling
1 Philippine Peso = 0.26778 Ukraine Hryvnia
1 Philippine Peso = 60.08732 Ugandan Shilling
1 Philippine Peso = 0.02298 United States Dollar
1 Philippine Peso = 0.52734 Uruguayan New Peso
1 Philippine Peso = 53.40304 Uzbekistan Sum
1 Philippine Peso = 0.14459 Venezuelan Bolivar
1 Philippine Peso = 486.90257 Vietnam Dong
1 Philippine Peso = 2.15074 Vanuatu Vatu
1 Philippine Peso = 0.05295 Samoa Tala
1 Philippine Peso = 11.15824 CFA Franc (BEAC)
1 Philippine Peso = 0.06204 East Caribbean Dollar
1 Philippine Peso = 11.15119 CFA Franc (BCEAO)
1 Philippine Peso = 2.02551 Pacific Franc
1 Philippine Peso = 4.93681 Yemen Riyal
1 Philippine Peso = 0.24542 South African Rand
1 Philippine Peso = 119.24403 Zambian Kwacha
1 Philippine Peso = 8.31572 Zimbabwe dollar

Gulf of Mexico set for oil supply surge

CORPUS CHRISTI, Texas – The Gulf of Mexico, stung by the worst offshore oil spill in U.S. history in 2010 and then overshadowed by the onshore fracking boom, is on the verge of its biggest supply surge ever, adding to the American oil renaissance.
 
Over the next three years, the Gulf is poised to deliver a slug of more than 700,000 barrels per day of new crude, reversing a decline in production and potentially rivaling shale hot spots like Texas’s Eagle Ford formation in terms of growth.
 
The revival began this summer, when Royal Dutch Shell’s 100,000 barrels per day Olympus platform was towed out to sea 130 miles south of New Orleans – the first of seven new ultra-modern systems starting up through 2016. It weighs 120,000 tons, more than 200 Boeing 777 jumbo jets.
 
The Gulf Of Mexico’s growth will bolster the United States’ emerging role as the world’s top oil and gas producer, a trend led by advances in hydraulic fracturing and horizontal drilling that unlock hydrocarbons from tight rock reservoirs in places like North Dakota’s Bakken and the Permian of West Texas.
 
Rising domestic production and the start of natural gas exports may transform the economy and realign geopolitics as U.S. reliance on foreign oil declines.
 
The resurgence in the Gulf is occurring even though the U.S. government imposed stringent safety and environmental rules after BP Plc’s Macondo spill. Foreign countries from Brazil to Angola have also aggressively courted
Big Oil to invest in developing their offshore fields. And the shale boom has diverted billions of dollars in capital onshore.
 
The deepwater Gulf, considered the most technically challenging offshore oil patch, remains alluring even as other areas struggle. Brazil attracted only a single bid this month for its once-touted Libra field, yet global companies still compete fiercely for the right to drill in the Gulf.
 
“A barrel of discovered oil in the Gulf of Mexico is difficult to beat for value anywhere else, even with the increased costs of doing business,” said Jez Averty, senior vice president of North American exploration at Norway’s Statoil .
 
Huge finds over the last decade – in what engineers call “elephant fields” that can produce for 25 years or more – are lifting growth in a basin some companies once abandoned, fearing it was drying up or its resources were beyond reach.
 
“This is still one of the premier oil and gas regions in the world and that’s why we’ve never left,” said Steve Thurston, vice president of Chevron Corp’s North American exploration and production division.
 
Even after decades of production in the Gulf, government estimates have shown that 48 billion barrels could still be recovered.
 
The area of the Gulf of Mexico where most of the new infrastructure will start up is in an ancient geological trend in its deepest waters 200 miles or more from shore known as the Lower Tertiary, estimated to hold 15 billion barrels of crude.
 
Appraisals in the Gulf’s Lower Tertiary have shown fields that could have half a billion barrels or more of oil, like Exxon Mobil Corp’s Hadrian, estimated to hold up to 700 million barrels, or Anadarko Petroleum Corp’s
Shenandoah, which tests this year showed could hold up to three times more than initial estimates of 300 million barrels.
 
The potential bounty of massive deposits that can produce for a quarter century or more is what keeps players coming even though a single well that bores tens of thousands of feet through thick salt and rock to strike oil – or a dry hole – can cost $130 million or more.
 
By contrast, an onshore well costs about $8 million to drill – but may only produce a trickle of oil for a few years.
 
Chevron’s Jack/St. Malo project, which will tie a platform to the ocean floor 7,000 feet below the surface and tap a reservoir 26,000 feet deep, costs $7.5 billion.
 
It may become the biggest such platform in the world after shipping out later this year, with the ability to double its initial 170,000 bpd capacity. It will be followed next year by Chevron’s second new platform, Big Foot, to be secured to the sea floor by 16 miles of interlocking metal strands, or tendons.
 
In addition to projects by Anadarko Petroleum Corp and Williams Cos, private equity firm Blackstone Energy Partners will join the game. In 2015, Blackstone’s partner LLOG Exploration aims to start up Delta House – named for the boisterous fraternity in the film “Animal House” – less than 10 miles from BP’s plugged Macondo well.
 
Delta House will pump oil from the Marmalard and Bluto fields, namesakes of characters in the movie.
 
Three years ago, some analysts thought the post-Macondo Gulf would have fewer players as stricter regulations and higher operating chilled activity, particularly for smaller companies.
 
Producers must now provide more detailed plans for offshore operations, submit to more frequent inspections and prove they have access to a rapid-response system to cap a gushing well. More than 4 million barrels of oil poured into the sea for 87 days after the Macondo well blowout killed 11 men.
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