February 10, 2016, 8:35 am
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1 Philippine Peso = 0.07686 UAE Dirham
1 Philippine Peso = 2.59473 Albanian Lek
1 Philippine Peso = 0.03746 Neth Antilles Guilder
1 Philippine Peso = 0.30051 Argentine Peso
1 Philippine Peso = 0.02962 Australian Dollar
1 Philippine Peso = 0.03746 Aruba Florin
1 Philippine Peso = 0.04185 Barbados Dollar
1 Philippine Peso = 1.64507 Bangladesh Taka
1 Philippine Peso = 0.03674 Bulgarian Lev
1 Philippine Peso = 0.00789 Bahraini Dinar
1 Philippine Peso = 32.74812 Burundi Franc
1 Philippine Peso = 0.02092 Bermuda Dollar
1 Philippine Peso = 0.02946 Brunei Dollar
1 Philippine Peso = 0.14459 Bolivian Boliviano
1 Philippine Peso = 0.08169 Brazilian Real
1 Philippine Peso = 0.02093 Bahamian Dollar
1 Philippine Peso = 1.41643 Bhutan Ngultrum
1 Philippine Peso = 0.2366 Botswana Pula
1 Philippine Peso = 452.19611 Belarus Ruble
1 Philippine Peso = 0.04175 Belize Dollar
1 Philippine Peso = 0.02912 Canadian Dollar
1 Philippine Peso = 0.02073 Swiss Franc
1 Philippine Peso = 14.75559 Chilean Peso
1 Philippine Peso = 0.1376 Chinese Yuan
1 Philippine Peso = 69.74911 Colombian Peso
1 Philippine Peso = 11.2415 Costa Rica Colon
1 Philippine Peso = 0.02093 Cuban Peso
1 Philippine Peso = 2.07369 Cape Verde Escudo
1 Philippine Peso = 0.50789 Czech Koruna
1 Philippine Peso = 3.71707 Djibouti Franc
1 Philippine Peso = 0.13995 Danish Krone
1 Philippine Peso = 0.9566 Dominican Peso
1 Philippine Peso = 2.2276 Algerian Dinar
1 Philippine Peso = 0.29339 Estonian Kroon
1 Philippine Peso = 0.16387 Egyptian Pound
1 Philippine Peso = 0.44503 Ethiopian Birr
1 Philippine Peso = 0.01875 Euro
1 Philippine Peso = 0.04469 Fiji Dollar
1 Philippine Peso = 0.0138 Falkland Islands Pound
1 Philippine Peso = 0.01443 British Pound
1 Philippine Peso = 0.0836 Ghanaian Cedi
1 Philippine Peso = 0.82864 Gambian Dalasi
1 Philippine Peso = 162.2748 Guinea Franc
1 Philippine Peso = 0.16005 Guatemala Quetzal
1 Philippine Peso = 4.33594 Guyana Dollar
1 Philippine Peso = 0.16304 Hong Kong Dollar
1 Philippine Peso = 0.47245 Honduras Lempira
1 Philippine Peso = 0.14372 Croatian Kuna
1 Philippine Peso = 1.24289 Haiti Gourde
1 Philippine Peso = 5.79882 Hungarian Forint
1 Philippine Peso = 284.8982 Indonesian Rupiah
1 Philippine Peso = 0.08125 Israeli Shekel
1 Philippine Peso = 1.42041 Indian Rupee
1 Philippine Peso = 23.16642 Iraqi Dinar
1 Philippine Peso = 631.54701 Iran Rial
1 Philippine Peso = 2.66986 Iceland Krona
1 Philippine Peso = 2.5327 Jamaican Dollar
1 Philippine Peso = 0.01485 Jordanian Dinar
1 Philippine Peso = 2.4447 Japanese Yen
1 Philippine Peso = 2.13887 Kenyan Shilling
1 Philippine Peso = 1.57676 Kyrgyzstan Som
1 Philippine Peso = 84.53724 Cambodia Riel
1 Philippine Peso = 9.2266 Comoros Franc
1 Philippine Peso = 18.83279 North Korean Won
1 Philippine Peso = 25.24106 Korean Won
1 Philippine Peso = 0.0063 Kuwaiti Dinar
1 Philippine Peso = 0.01716 Cayman Islands Dollar
1 Philippine Peso = 7.64088 Kazakhstan Tenge
1 Philippine Peso = 170.22642 Lao Kip
1 Philippine Peso = 31.55538 Lebanese Pound
1 Philippine Peso = 3.01461 Sri Lanka Rupee
1 Philippine Peso = 1.77154 Liberian Dollar
1 Philippine Peso = 0.33538 Lesotho Loti
1 Philippine Peso = 0.0638 Lithuanian Lita
1 Philippine Peso = 0.01298 Latvian Lat
1 Philippine Peso = 0.02876 Libyan Dinar
1 Philippine Peso = 0.20393 Moroccan Dirham
1 Philippine Peso = 0.4235 Moldovan Leu
1 Philippine Peso = 1.15529 Macedonian Denar
1 Philippine Peso = 26.44018 Myanmar Kyat
1 Philippine Peso = 42.14359 Mongolian Tugrik
1 Philippine Peso = 0.16795 Macau Pataca
1 Philippine Peso = 7.17738 Mauritania Ougulya
1 Philippine Peso = 0.74871 Mauritius Rupee
1 Philippine Peso = 0.3212 Maldives Rufiyaa
1 Philippine Peso = 15.25874 Malawi Kwacha
1 Philippine Peso = 0.38606 Mexican Peso
1 Philippine Peso = 0.08707 Malaysian Ringgit
1 Philippine Peso = 0.33538 Namibian Dollar
1 Philippine Peso = 4.16184 Nigerian Naira
1 Philippine Peso = 0.58722 Nicaragua Cordoba
1 Philippine Peso = 0.17974 Norwegian Krone
1 Philippine Peso = 2.2663 Nepalese Rupee
1 Philippine Peso = 0.03158 New Zealand Dollar
1 Philippine Peso = 0.00807 Omani Rial
1 Philippine Peso = 0.02093 Panama Balboa
1 Philippine Peso = 0.07283 Peruvian Nuevo Sol
1 Philippine Peso = 0.06354 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.18094 Pakistani Rupee
1 Philippine Peso = 0.08268 Polish Zloty
1 Philippine Peso = 122.6956 Paraguayan Guarani
1 Philippine Peso = 0.07619 Qatar Rial
1 Philippine Peso = 0.0844 Romanian New Leu
1 Philippine Peso = 1.61145 Russian Rouble
1 Philippine Peso = 15.63121 Rwanda Franc
1 Philippine Peso = 0.07848 Saudi Arabian Riyal
1 Philippine Peso = 0.16986 Solomon Islands Dollar
1 Philippine Peso = 0.2785 Seychelles Rupee
1 Philippine Peso = 0.12781 Sudanese Pound
1 Philippine Peso = 0.17695 Swedish Krona
1 Philippine Peso = 0.02948 Singapore Dollar
1 Philippine Peso = 0.01435 St Helena Pound
1 Philippine Peso = 0.46467 Slovak Koruna
1 Philippine Peso = 85.89843 Sierra Leone Leone
1 Philippine Peso = 12.86802 Somali Shilling
1 Philippine Peso = 465.22212 Sao Tome Dobra
1 Philippine Peso = 0.18262 El Salvador Colon
1 Philippine Peso = 4.601 Syrian Pound
1 Philippine Peso = 0.33538 Swaziland Lilageni
1 Philippine Peso = 0.74479 Thai Baht
1 Philippine Peso = 0.04227 Tunisian Dinar
1 Philippine Peso = 0.04682 Tonga Pa'ang
1 Philippine Peso = 0.06117 Turkish Lira
1 Philippine Peso = 0.13516 Trinidad Tobago Dollar
1 Philippine Peso = 0.69719 Taiwan Dollar
1 Philippine Peso = 45.70717 Tanzanian Shilling
1 Philippine Peso = 0.54144 Ukraine Hryvnia
1 Philippine Peso = 71.56459 Ugandan Shilling
1 Philippine Peso = 0.02093 United States Dollar
1 Philippine Peso = 0.65235 Uruguayan New Peso
1 Philippine Peso = 59.36241 Uzbekistan Sum
1 Philippine Peso = 0.13288 Venezuelan Bolivar
1 Philippine Peso = 466.34163 Vietnam Dong
1 Philippine Peso = 2.37628 Vanuatu Vatu
1 Philippine Peso = 0.05446 Samoa Tala
1 Philippine Peso = 12.30214 CFA Franc (BEAC)
1 Philippine Peso = 0.0565 East Caribbean Dollar
1 Philippine Peso = 12.30214 CFA Franc (BCEAO)
1 Philippine Peso = 2.238 Pacific Franc
1 Philippine Peso = 4.49999 Yemen Riyal
1 Philippine Peso = 0.33543 South African Rand
1 Philippine Peso = 108.59194 Zambian Kwacha
1 Philippine Peso = 7.57287 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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