July 31, 2015, 7:18 pm
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1 Philippine Peso = 0.08071 UAE Dirham
1 Philippine Peso = 2.77831 Albanian Lek
1 Philippine Peso = 0.03933 Neth Antilles Guilder
1 Philippine Peso = 0.20177 Argentine Peso
1 Philippine Peso = 0.03012 Australian Dollar
1 Philippine Peso = 0.03933 Aruba Florin
1 Philippine Peso = 0.04395 Barbados Dollar
1 Philippine Peso = 1.71041 Bangladesh Taka
1 Philippine Peso = 0.03914 Bulgarian Lev
1 Philippine Peso = 0.00828 Bahraini Dinar
1 Philippine Peso = 34.26318 Burundi Franc
1 Philippine Peso = 0.02197 Bermuda Dollar
1 Philippine Peso = 0.03005 Brunei Dollar
1 Philippine Peso = 0.15162 Bolivian Boliviano
1 Philippine Peso = 0.0731 Brazilian Real
1 Philippine Peso = 0.02197 Bahamian Dollar
1 Philippine Peso = 1.40314 Bhutan Ngultrum
1 Philippine Peso = 0.22143 Botswana Pula
1 Philippine Peso = 334.42468 Belarus Ruble
1 Philippine Peso = 0.04428 Belize Dollar
1 Philippine Peso = 0.02845 Canadian Dollar
1 Philippine Peso = 0.02127 Swiss Franc
1 Philippine Peso = 14.65178 Chilean Peso
1 Philippine Peso = 0.13644 Chinese Yuan
1 Philippine Peso = 62.60517 Colombian Peso
1 Philippine Peso = 11.71953 Costa Rica Colon
1 Philippine Peso = 0.02197 Cuban Peso
1 Philippine Peso = 2.20502 Cape Verde Escudo
1 Philippine Peso = 0.54215 Czech Koruna
1 Philippine Peso = 3.90622 Djibouti Franc
1 Philippine Peso = 0.14929 Danish Krone
1 Philippine Peso = 0.99056 Dominican Peso
1 Philippine Peso = 2.1757 Algerian Dinar
1 Philippine Peso = 0.31304 Estonian Kroon
1 Philippine Peso = 0.17208 Egyptian Pound
1 Philippine Peso = 0.45593 Ethiopian Birr
1 Philippine Peso = 0.02001 Euro
1 Philippine Peso = 0.04689 Fiji Dollar
1 Philippine Peso = 0.01392 Falkland Islands Pound
1 Philippine Peso = 0.01408 British Pound
1 Philippine Peso = 0.0813 Ghanaian Cedi
1 Philippine Peso = 0.86202 Gambian Dalasi
1 Philippine Peso = 159.85564 Guinea Franc
1 Philippine Peso = 0.16853 Guatemala Quetzal
1 Philippine Peso = 4.55312 Guyana Dollar
1 Philippine Peso = 0.17033 Hong Kong Dollar
1 Philippine Peso = 0.48239 Honduras Lempira
1 Philippine Peso = 0.15196 Croatian Kuna
1 Philippine Peso = 1.22899 Haiti Gourde
1 Philippine Peso = 6.17992 Hungarian Forint
1 Philippine Peso = 296.42163 Indonesian Rupiah
1 Philippine Peso = 0.08311 Israeli Shekel
1 Philippine Peso = 1.40366 Indian Rupee
1 Philippine Peso = 26.14839 Iraqi Dinar
1 Philippine Peso = 649.62261 Iran Rial
1 Philippine Peso = 2.94587 Iceland Krona
1 Philippine Peso = 2.57252 Jamaican Dollar
1 Philippine Peso = 0.01556 Jordanian Dinar
1 Philippine Peso = 2.72394 Japanese Yen
1 Philippine Peso = 2.23229 Kenyan Shilling
1 Philippine Peso = 1.33891 Kyrgyzstan Som
1 Philippine Peso = 90.50748 Cambodia Riel
1 Philippine Peso = 9.81899 Comoros Franc
1 Philippine Peso = 19.77609 North Korean Won
1 Philippine Peso = 25.53566 Korean Won
1 Philippine Peso = 0.00666 Kuwaiti Dinar
1 Philippine Peso = 0.01802 Cayman Islands Dollar
1 Philippine Peso = 4.11947 Kazakhstan Tenge
1 Philippine Peso = 179.7416 Lao Kip
1 Philippine Peso = 33.13374 Lebanese Pound
1 Philippine Peso = 2.93928 Sri Lanka Rupee
1 Philippine Peso = 1.86027 Liberian Dollar
1 Philippine Peso = 0.2753 Lesotho Loti
1 Philippine Peso = 0.06699 Lithuanian Lita
1 Philippine Peso = 0.01363 Latvian Lat
1 Philippine Peso = 0.02977 Libyan Dinar
1 Philippine Peso = 0.21605 Moroccan Dirham
1 Philippine Peso = 0.41508 Moldovan Leu
1 Philippine Peso = 1.22908 Macedonian Denar
1 Philippine Peso = 27.30309 Myanmar Kyat
1 Philippine Peso = 43.51839 Mongolian Tugrik
1 Philippine Peso = 0.17544 Macau Pataca
1 Philippine Peso = 7.14137 Mauritania Ougulya
1 Philippine Peso = 0.77676 Mauritius Rupee
1 Philippine Peso = 0.33751 Maldives Rufiyaa
1 Philippine Peso = 10.11426 Malawi Kwacha
1 Philippine Peso = 0.35719 Mexican Peso
1 Philippine Peso = 0.08367 Malaysian Ringgit
1 Philippine Peso = 0.2753 Namibian Dollar
1 Philippine Peso = 4.37271 Nigerian Naira
1 Philippine Peso = 0.6011 Nicaragua Cordoba
1 Philippine Peso = 0.17917 Norwegian Krone
1 Philippine Peso = 2.24503 Nepalese Rupee
1 Philippine Peso = 0.03292 New Zealand Dollar
1 Philippine Peso = 0.00846 Omani Rial
1 Philippine Peso = 0.02197 Panama Balboa
1 Philippine Peso = 0.06996 Peruvian Nuevo Sol
1 Philippine Peso = 0.06081 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.23679 Pakistani Rupee
1 Philippine Peso = 0.08254 Polish Zloty
1 Philippine Peso = 112.993 Paraguayan Guarani
1 Philippine Peso = 0.08001 Qatar Rial
1 Philippine Peso = 0.08835 Romanian New Leu
1 Philippine Peso = 1.29059 Russian Rouble
1 Philippine Peso = 15.94173 Rwanda Franc
1 Philippine Peso = 0.08241 Saudi Arabian Riyal
1 Philippine Peso = 0.17524 Solomon Islands Dollar
1 Philippine Peso = 0.28553 Seychelles Rupee
1 Philippine Peso = 0.13101 Sudanese Pound
1 Philippine Peso = 0.1898 Swedish Krona
1 Philippine Peso = 0.03008 Singapore Dollar
1 Philippine Peso = 0.01407 St Helena Pound
1 Philippine Peso = 0.48794 Slovak Koruna
1 Philippine Peso = 86.31165 Sierra Leone Leone
1 Philippine Peso = 14.7211 Somali Shilling
1 Philippine Peso = 487.81024 Sao Tome Dobra
1 Philippine Peso = 0.192 El Salvador Colon
1 Philippine Peso = 4.14907 Syrian Pound
1 Philippine Peso = 0.2753 Swaziland Lilageni
1 Philippine Peso = 0.76888 Thai Baht
1 Philippine Peso = 0.04327 Tunisian Dinar
1 Philippine Peso = 0.04674 Tonga Pa'ang
1 Philippine Peso = 0.06075 Turkish Lira
1 Philippine Peso = 0.13928 Trinidad Tobago Dollar
1 Philippine Peso = 0.6906 Taiwan Dollar
1 Philippine Peso = 46.28264 Tanzanian Shilling
1 Philippine Peso = 0.48396 Ukraine Hryvnia
1 Philippine Peso = 74.81954 Ugandan Shilling
1 Philippine Peso = 0.02197 United States Dollar
1 Philippine Peso = 0.62064 Uruguayan New Peso
1 Philippine Peso = 56.58555 Uzbekistan Sum
1 Philippine Peso = 0.13953 Venezuelan Bolivar
1 Philippine Peso = 479.44935 Vietnam Dong
1 Philippine Peso = 2.42037 Vanuatu Vatu
1 Philippine Peso = 0.05717 Samoa Tala
1 Philippine Peso = 13.09199 CFA Franc (BEAC)
1 Philippine Peso = 0.05933 East Caribbean Dollar
1 Philippine Peso = 13.09199 CFA Franc (BCEAO)
1 Philippine Peso = 2.38169 Pacific Franc
1 Philippine Peso = 4.72649 Yemen Riyal
1 Philippine Peso = 0.27568 South African Rand
1 Philippine Peso = 114.03114 Zambian Kwacha
1 Philippine Peso = 7.95219 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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Column of the Day

No Unli ‘to sawa’

By DUCKY PAREDES | July 31,2015
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‘Malacañang’s proposed version of the FOI bill has already been submitted to Congress and has been discussed by the House Committee on Information.’

Opinion of the Day

4th class town gets a ray of hope

By AMADO P. MACASAET | July 31, 2015
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‘Egerton has been exploring for gold, and working with the local community on environmental and social programs in Lobo for over 12 years.’