July 6, 2015, 1:28 am
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1 Philippine Peso = 0.08157 UAE Dirham
1 Philippine Peso = 2.80396 Albanian Lek
1 Philippine Peso = 0.03975 Neth Antilles Guilder
1 Philippine Peso = 0.20206 Argentine Peso
1 Philippine Peso = 0.02954 Australian Dollar
1 Philippine Peso = 0.03975 Aruba Florin
1 Philippine Peso = 0.04441 Barbados Dollar
1 Philippine Peso = 1.72883 Bangladesh Taka
1 Philippine Peso = 0.03915 Bulgarian Lev
1 Philippine Peso = 0.00837 Bahraini Dinar
1 Philippine Peso = 35.59651 Burundi Franc
1 Philippine Peso = 0.02221 Bermuda Dollar
1 Philippine Peso = 0.02989 Brunei Dollar
1 Philippine Peso = 0.15322 Bolivian Boliviano
1 Philippine Peso = 0.06961 Brazilian Real
1 Philippine Peso = 0.02221 Bahamian Dollar
1 Philippine Peso = 1.40909 Bhutan Ngultrum
1 Philippine Peso = 0.2209 Botswana Pula
1 Philippine Peso = 341.42009 Belarus Ruble
1 Philippine Peso = 0.04475 Belize Dollar
1 Philippine Peso = 0.02792 Canadian Dollar
1 Philippine Peso = 0.02088 Swiss Franc
1 Philippine Peso = 14.14523 Chilean Peso
1 Philippine Peso = 0.13782 Chinese Yuan
1 Philippine Peso = 58.55394 Colombian Peso
1 Philippine Peso = 11.84656 Costa Rica Colon
1 Philippine Peso = 0.02221 Cuban Peso
1 Philippine Peso = 2.1934 Cape Verde Escudo
1 Philippine Peso = 0.54158 Czech Koruna
1 Philippine Peso = 3.93172 Djibouti Franc
1 Philippine Peso = 0.14908 Danish Krone
1 Philippine Peso = 0.99239 Dominican Peso
1 Philippine Peso = 2.19697 Algerian Dinar
1 Philippine Peso = 0.31264 Estonian Kroon
1 Philippine Peso = 0.17147 Egyptian Pound
1 Philippine Peso = 0.45925 Ethiopian Birr
1 Philippine Peso = 0.01998 Euro
1 Philippine Peso = 0.04668 Fiji Dollar
1 Philippine Peso = 0.01417 Falkland Islands Pound
1 Philippine Peso = 0.01426 British Pound
1 Philippine Peso = 0.09149 Ghanaian Cedi
1 Philippine Peso = 0.86937 Gambian Dalasi
1 Philippine Peso = 156.33043 Guinea Franc
1 Philippine Peso = 0.16927 Guatemala Quetzal
1 Philippine Peso = 4.60134 Guyana Dollar
1 Philippine Peso = 0.17216 Hong Kong Dollar
1 Philippine Peso = 0.48625 Honduras Lempira
1 Philippine Peso = 0.1517 Croatian Kuna
1 Philippine Peso = 1.1608 Haiti Gourde
1 Philippine Peso = 6.28701 Hungarian Forint
1 Philippine Peso = 296.85227 Indonesian Rupiah
1 Philippine Peso = 0.08338 Israeli Shekel
1 Philippine Peso = 1.40826 Indian Rupee
1 Philippine Peso = 26.45867 Iraqi Dinar
1 Philippine Peso = 652.86182 Iran Rial
1 Philippine Peso = 2.9381 Iceland Krona
1 Philippine Peso = 2.59279 Jamaican Dollar
1 Philippine Peso = 0.01573 Jordanian Dinar
1 Philippine Peso = 2.72858 Japanese Yen
1 Philippine Peso = 2.21126 Kenyan Shilling
1 Philippine Peso = 1.37886 Kyrgyzstan Som
1 Philippine Peso = 91.37734 Cambodia Riel
1 Philippine Peso = 9.83546 Comoros Franc
1 Philippine Peso = 19.98557 North Korean Won
1 Philippine Peso = 24.91856 Korean Won
1 Philippine Peso = 0.00672 Kuwaiti Dinar
1 Philippine Peso = 0.01821 Cayman Islands Dollar
1 Philippine Peso = 4.13501 Kazakhstan Tenge
1 Philippine Peso = 180.20208 Lao Kip
1 Philippine Peso = 33.45362 Lebanese Pound
1 Philippine Peso = 2.97119 Sri Lanka Rupee
1 Philippine Peso = 1.87998 Liberian Dollar
1 Philippine Peso = 0.27358 Lesotho Loti
1 Philippine Peso = 0.0677 Lithuanian Lita
1 Philippine Peso = 0.01378 Latvian Lat
1 Philippine Peso = 0.03042 Libyan Dinar
1 Philippine Peso = 0.21656 Moroccan Dirham
1 Philippine Peso = 0.42292 Moldovan Leu
1 Philippine Peso = 1.232 Macedonian Denar
1 Philippine Peso = 25.16627 Myanmar Kyat
1 Philippine Peso = 43.85721 Mongolian Tugrik
1 Philippine Peso = 0.17732 Macau Pataca
1 Philippine Peso = 7.26142 Mauritania Ougulya
1 Philippine Peso = 0.78121 Mauritius Rupee
1 Philippine Peso = 0.34198 Maldives Rufiyaa
1 Philippine Peso = 9.77061 Malawi Kwacha
1 Philippine Peso = 0.34945 Mexican Peso
1 Philippine Peso = 0.08412 Malaysian Ringgit
1 Philippine Peso = 0.27358 Namibian Dollar
1 Philippine Peso = 4.41792 Nigerian Naira
1 Philippine Peso = 0.60536 Nicaragua Cordoba
1 Philippine Peso = 0.17741 Norwegian Krone
1 Philippine Peso = 2.25455 Nepalese Rupee
1 Philippine Peso = 0.03318 New Zealand Dollar
1 Philippine Peso = 0.00855 Omani Rial
1 Philippine Peso = 0.02221 Panama Balboa
1 Philippine Peso = 0.07054 Peruvian Nuevo Sol
1 Philippine Peso = 0.06112 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.25915 Pakistani Rupee
1 Philippine Peso = 0.08375 Polish Zloty
1 Philippine Peso = 114.3281 Paraguayan Guarani
1 Philippine Peso = 0.08083 Qatar Rial
1 Philippine Peso = 0.0897 Romanian New Leu
1 Philippine Peso = 1.24597 Russian Rouble
1 Philippine Peso = 16.05507 Rwanda Franc
1 Philippine Peso = 0.0833 Saudi Arabian Riyal
1 Philippine Peso = 0.17486 Solomon Islands Dollar
1 Philippine Peso = 0.29112 Seychelles Rupee
1 Philippine Peso = 0.13248 Sudanese Pound
1 Philippine Peso = 0.18773 Swedish Krona
1 Philippine Peso = 0.02988 Singapore Dollar
1 Philippine Peso = 0.01423 St Helena Pound
1 Philippine Peso = 0.49311 Slovak Koruna
1 Philippine Peso = 93.88775 Sierra Leone Leone
1 Philippine Peso = 15.43219 Somali Shilling
1 Philippine Peso = 490.64564 Sao Tome Dobra
1 Philippine Peso = 0.19407 El Salvador Colon
1 Philippine Peso = 4.19302 Syrian Pound
1 Philippine Peso = 0.27358 Swaziland Lilageni
1 Philippine Peso = 0.74933 Thai Baht
1 Philippine Peso = 0.04349 Tunisian Dinar
1 Philippine Peso = 0.04612 Tonga Pa'ang
1 Philippine Peso = 0.05976 Turkish Lira
1 Philippine Peso = 0.14114 Trinidad Tobago Dollar
1 Philippine Peso = 0.68595 Taiwan Dollar
1 Philippine Peso = 45.00083 Tanzanian Shilling
1 Philippine Peso = 0.46966 Ukraine Hryvnia
1 Philippine Peso = 74.83484 Ugandan Shilling
1 Philippine Peso = 0.02221 United States Dollar
1 Philippine Peso = 0.60279 Uruguayan New Peso
1 Philippine Peso = 56.75013 Uzbekistan Sum
1 Philippine Peso = 0.14101 Venezuelan Bolivar
1 Philippine Peso = 484.20585 Vietnam Dong
1 Philippine Peso = 2.43569 Vanuatu Vatu
1 Philippine Peso = 0.05672 Samoa Tala
1 Philippine Peso = 13.11394 CFA Franc (BEAC)
1 Philippine Peso = 0.05996 East Caribbean Dollar
1 Philippine Peso = 13.11394 CFA Franc (BCEAO)
1 Philippine Peso = 2.38569 Pacific Franc
1 Philippine Peso = 4.77544 Yemen Riyal
1 Philippine Peso = 0.27356 South African Rand
1 Philippine Peso = 115.23899 Zambian Kwacha
1 Philippine Peso = 8.03642 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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