October 23, 2014, 1:10 pm
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1 Philippine Peso = 0.08206 UAE Dirham
1 Philippine Peso = 2.43945 Albanian Lek
1 Philippine Peso = 0.03999 Neth Antilles Guilder
1 Philippine Peso = 0.18932 Argentine Peso
1 Philippine Peso = 0.02534 Australian Dollar
1 Philippine Peso = 0.03999 Aruba Florin
1 Philippine Peso = 0.04468 Barbados Dollar
1 Philippine Peso = 1.72811 Bangladesh Taka
1 Philippine Peso = 0.03427 Bulgarian Lev
1 Philippine Peso = 0.00842 Bahraini Dinar
1 Philippine Peso = 34.74084 Burundi Franc
1 Philippine Peso = 0.02234 Bermuda Dollar
1 Philippine Peso = 0.0284 Brunei Dollar
1 Philippine Peso = 0.15438 Bolivian Boliviano
1 Philippine Peso = 0.05567 Brazilian Real
1 Philippine Peso = 0.02234 Bahamian Dollar
1 Philippine Peso = 1.37059 Bhutan Ngultrum
1 Philippine Peso = 0.20347 Botswana Pula
1 Philippine Peso = 239.05273 Belarus Ruble
1 Philippine Peso = 0.04457 Belize Dollar
1 Philippine Peso = 0.02506 Canadian Dollar
1 Philippine Peso = 0.02116 Swiss Franc
1 Philippine Peso = 13.0429 Chilean Peso
1 Philippine Peso = 0.13675 Chinese Yuan
1 Philippine Peso = 46.05228 Colombian Peso
1 Philippine Peso = 12.09786 Costa Rica Colon
1 Philippine Peso = 0.02234 Cuban Peso
1 Philippine Peso = 1.90393 Cape Verde Escudo
1 Philippine Peso = 0.48412 Czech Koruna
1 Philippine Peso = 4.06725 Djibouti Franc
1 Philippine Peso = 0.13057 Danish Krone
1 Philippine Peso = 0.98023 Dominican Peso
1 Philippine Peso = 1.86182 Algerian Dinar
1 Philippine Peso = 0.27434 Estonian Kroon
1 Philippine Peso = 0.15981 Egyptian Pound
1 Philippine Peso = 0.44764 Ethiopian Birr
1 Philippine Peso = 0.01753 Euro
1 Philippine Peso = 0.04283 Fiji Dollar
1 Philippine Peso = 0.01383 Falkland Islands Pound
1 Philippine Peso = 0.01383 British Pound
1 Philippine Peso = 0.07166 Ghanaian Cedi
1 Philippine Peso = 0.92605 Gambian Dalasi
1 Philippine Peso = 156.94817 Guinea Franc
1 Philippine Peso = 0.17065 Guatemala Quetzal
1 Philippine Peso = 4.59562 Guyana Dollar
1 Philippine Peso = 0.17329 Hong Kong Dollar
1 Philippine Peso = 0.47625 Honduras Lempira
1 Philippine Peso = 0.13442 Croatian Kuna
1 Philippine Peso = 1.02173 Haiti Gourde
1 Philippine Peso = 5.37723 Hungarian Forint
1 Philippine Peso = 269.10188 Indonesian Rupiah
1 Philippine Peso = 0.08341 Israeli Shekel
1 Philippine Peso = 1.36539 Indian Rupee
1 Philippine Peso = 25.98749 Iraqi Dinar
1 Philippine Peso = 596.89455 Iran Rial
1 Philippine Peso = 2.67717 Iceland Krona
1 Philippine Peso = 2.51117 Jamaican Dollar
1 Philippine Peso = 0.01584 Jordanian Dinar
1 Philippine Peso = 2.38438 Japanese Yen
1 Philippine Peso = 1.98615 Kenyan Shilling
1 Philippine Peso = 1.23904 Kyrgyzstan Som
1 Philippine Peso = 91.04111 Cambodia Riel
1 Philippine Peso = 8.61686 Comoros Franc
1 Philippine Peso = 20.10724 North Korean Won
1 Philippine Peso = 23.53217 Korean Won
1 Philippine Peso = 0.00645 Kuwaiti Dinar
1 Philippine Peso = 0.01832 Cayman Islands Dollar
1 Philippine Peso = 4.04714 Kazakhstan Tenge
1 Philippine Peso = 179.94861 Lao Kip
1 Philippine Peso = 33.8025 Lebanese Pound
1 Philippine Peso = 2.92113 Sri Lanka Rupee
1 Philippine Peso = 1.88785 Liberian Dollar
1 Philippine Peso = 0.24631 Lesotho Loti
1 Philippine Peso = 0.06048 Lithuanian Lita
1 Philippine Peso = 0.01138 Latvian Lat
1 Philippine Peso = 0.02704 Libyan Dinar
1 Philippine Peso = 0.19429 Moroccan Dirham
1 Philippine Peso = 0.32507 Moldovan Leu
1 Philippine Peso = 1.07999 Macedonian Denar
1 Philippine Peso = 22.25201 Myanmar Kyat
1 Philippine Peso = 41.34272 Mongolian Tugrik
1 Philippine Peso = 0.17848 Macau Pataca
1 Philippine Peso = 6.49911 Mauritania Ougulya
1 Philippine Peso = 0.69904 Mauritius Rupee
1 Philippine Peso = 0.34428 Maldives Rufiyaa
1 Philippine Peso = 9.78921 Malawi Kwacha
1 Philippine Peso = 0.30178 Mexican Peso
1 Philippine Peso = 0.07285 Malaysian Ringgit
1 Philippine Peso = 0.24497 Namibian Dollar
1 Philippine Peso = 3.69526 Nigerian Naira
1 Philippine Peso = 0.58858 Nicaragua Cordoba
1 Philippine Peso = 0.1465 Norwegian Krone
1 Philippine Peso = 2.19236 Nepalese Rupee
1 Philippine Peso = 0.02794 New Zealand Dollar
1 Philippine Peso = 0.0086 Omani Rial
1 Philippine Peso = 0.02234 Panama Balboa
1 Philippine Peso = 0.06488 Peruvian Nuevo Sol
1 Philippine Peso = 0.0563 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.30004 Pakistani Rupee
1 Philippine Peso = 0.074 Polish Zloty
1 Philippine Peso = 101.77547 Paraguayan Guarani
1 Philippine Peso = 0.08135 Qatar Rial
1 Philippine Peso = 0.07746 Romanian New Leu
1 Philippine Peso = 0.91624 Russian Rouble
1 Philippine Peso = 15.42672 Rwanda Franc
1 Philippine Peso = 0.08382 Saudi Arabian Riyal
1 Philippine Peso = 0.16549 Solomon Islands Dollar
1 Philippine Peso = 0.31286 Seychelles Rupee
1 Philippine Peso = 0.12718 Sudanese Pound
1 Philippine Peso = 0.16134 Swedish Krona
1 Philippine Peso = 0.02841 Singapore Dollar
1 Philippine Peso = 0.01383 St Helena Pound
1 Philippine Peso = 0.49611 Slovak Koruna
1 Philippine Peso = 97.07328 Sierra Leone Leone
1 Philippine Peso = 17.37042 Somali Shilling
1 Philippine Peso = 429.17784 Sao Tome Dobra
1 Philippine Peso = 0.19542 El Salvador Colon
1 Philippine Peso = 3.63941 Syrian Pound
1 Philippine Peso = 0.24692 Swaziland Lilageni
1 Philippine Peso = 0.72084 Thai Baht
1 Philippine Peso = 0.04014 Tunisian Dinar
1 Philippine Peso = 0.04372 Tonga Pa'ang
1 Philippine Peso = 0.05002 Turkish Lira
1 Philippine Peso = 0.14137 Trinidad Tobago Dollar
1 Philippine Peso = 0.67862 Taiwan Dollar
1 Philippine Peso = 37.8798 Tanzanian Shilling
1 Philippine Peso = 0.29044 Ukraine Hryvnia
1 Philippine Peso = 59.83021 Ugandan Shilling
1 Philippine Peso = 0.02234 United States Dollar
1 Philippine Peso = 0.54446 Uruguayan New Peso
1 Philippine Peso = 53.07328 Uzbekistan Sum
1 Philippine Peso = 0.14048 Venezuelan Bolivar
1 Philippine Peso = 474.64254 Vietnam Dong
1 Philippine Peso = 2.18499 Vanuatu Vatu
1 Philippine Peso = 0.05339 Samoa Tala
1 Philippine Peso = 11.48915 CFA Franc (BEAC)
1 Philippine Peso = 0.06032 East Caribbean Dollar
1 Philippine Peso = 11.4857 CFA Franc (BCEAO)
1 Philippine Peso = 2.08557 Pacific Franc
1 Philippine Peso = 4.80127 Yemen Riyal
1 Philippine Peso = 0.24544 South African Rand
1 Philippine Peso = 115.94057 Zambian Kwacha
1 Philippine Peso = 8.08534 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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