June 1, 2016, 11:31 am
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1 Philippine Peso = 0.07856 UAE Dirham
1 Philippine Peso = 2.65224 Albanian Lek
1 Philippine Peso = 0.03828 Neth Antilles Guilder
1 Philippine Peso = 0.29844 Argentine Peso
1 Philippine Peso = 0.02953 Australian Dollar
1 Philippine Peso = 0.03828 Aruba Florin
1 Philippine Peso = 0.04277 Barbados Dollar
1 Philippine Peso = 1.68061 Bangladesh Taka
1 Philippine Peso = 0.03755 Bulgarian Lev
1 Philippine Peso = 0.00807 Bahraini Dinar
1 Philippine Peso = 33.36435 Burundi Franc
1 Philippine Peso = 0.02139 Bermuda Dollar
1 Philippine Peso = 0.0295 Brunei Dollar
1 Philippine Peso = 0.14757 Bolivian Boliviano
1 Philippine Peso = 0.07625 Brazilian Real
1 Philippine Peso = 0.02137 Bahamian Dollar
1 Philippine Peso = 1.43681 Bhutan Ngultrum
1 Philippine Peso = 0.2401 Botswana Pula
1 Philippine Peso = 423.14972 Belarus Ruble
1 Philippine Peso = 0.04299 Belize Dollar
1 Philippine Peso = 0.02792 Canadian Dollar
1 Philippine Peso = 0.02118 Swiss Franc
1 Philippine Peso = 14.70683 Chilean Peso
1 Philippine Peso = 0.14065 Chinese Yuan
1 Philippine Peso = 65.44224 Colombian Peso
1 Philippine Peso = 11.45295 Costa Rica Colon
1 Philippine Peso = 0.02139 Cuban Peso
1 Philippine Peso = 2.11534 Cape Verde Escudo
1 Philippine Peso = 0.51817 Czech Koruna
1 Philippine Peso = 3.80204 Djibouti Franc
1 Philippine Peso = 0.14263 Danish Krone
1 Philippine Peso = 0.98211 Dominican Peso
1 Philippine Peso = 2.3632 Algerian Dinar
1 Philippine Peso = 0.30007 Estonian Kroon
1 Philippine Peso = 0.1898 Egyptian Pound
1 Philippine Peso = 0.46411 Ethiopian Birr
1 Philippine Peso = 0.01918 Euro
1 Philippine Peso = 0.04566 Fiji Dollar
1 Philippine Peso = 0.01411 Falkland Islands Pound
1 Philippine Peso = 0.01462 British Pound
1 Philippine Peso = 0.08272 Ghanaian Cedi
1 Philippine Peso = 0.91645 Gambian Dalasi
1 Philippine Peso = 157.38668 Guinea Franc
1 Philippine Peso = 0.16318 Guatemala Quetzal
1 Philippine Peso = 4.43168 Guyana Dollar
1 Philippine Peso = 0.16613 Hong Kong Dollar
1 Philippine Peso = 0.48456 Honduras Lempira
1 Philippine Peso = 0.14354 Croatian Kuna
1 Philippine Peso = 1.3313 Haiti Gourde
1 Philippine Peso = 6.02087 Hungarian Forint
1 Philippine Peso = 291.83108 Indonesian Rupiah
1 Philippine Peso = 0.08238 Israeli Shekel
1 Philippine Peso = 1.43723 Indian Rupee
1 Philippine Peso = 25.0115 Iraqi Dinar
1 Philippine Peso = 651.46022 Iran Rial
1 Philippine Peso = 2.66669 Iceland Krona
1 Philippine Peso = 2.66594 Jamaican Dollar
1 Philippine Peso = 0.01517 Jordanian Dinar
1 Philippine Peso = 2.37625 Japanese Yen
1 Philippine Peso = 2.15684 Kenyan Shilling
1 Philippine Peso = 1.46073 Kyrgyzstan Som
1 Philippine Peso = 87.29588 Cambodia Riel
1 Philippine Peso = 9.43881 Comoros Franc
1 Philippine Peso = 19.24866 North Korean Won
1 Philippine Peso = 25.44448 Korean Won
1 Philippine Peso = 0.00646 Kuwaiti Dinar
1 Philippine Peso = 0.01754 Cayman Islands Dollar
1 Philippine Peso = 7.19258 Kazakhstan Tenge
1 Philippine Peso = 173.58656 Lao Kip
1 Philippine Peso = 32.27359 Lebanese Pound
1 Philippine Peso = 3.15924 Sri Lanka Rupee
1 Philippine Peso = 1.81087 Liberian Dollar
1 Philippine Peso = 0.33824 Lesotho Loti
1 Philippine Peso = 0.0652 Lithuanian Lita
1 Philippine Peso = 0.01327 Latvian Lat
1 Philippine Peso = 0.02936 Libyan Dinar
1 Philippine Peso = 0.20878 Moroccan Dirham
1 Philippine Peso = 0.42572 Moldovan Leu
1 Philippine Peso = 1.18133 Macedonian Denar
1 Philippine Peso = 25.31413 Myanmar Kyat
1 Philippine Peso = 42.65717 Mongolian Tugrik
1 Philippine Peso = 0.17112 Macau Pataca
1 Philippine Peso = 7.61648 Mauritania Ougulya
1 Philippine Peso = 0.75776 Mauritius Rupee
1 Philippine Peso = 0.32958 Maldives Rufiyaa
1 Philippine Peso = 15.14677 Malawi Kwacha
1 Philippine Peso = 0.39459 Mexican Peso
1 Philippine Peso = 0.08828 Malaysian Ringgit
1 Philippine Peso = 0.33824 Namibian Dollar
1 Philippine Peso = 4.2578 Nigerian Naira
1 Philippine Peso = 0.60954 Nicaragua Cordoba
1 Philippine Peso = 0.1791 Norwegian Krone
1 Philippine Peso = 2.29889 Nepalese Rupee
1 Philippine Peso = 0.03177 New Zealand Dollar
1 Philippine Peso = 0.00823 Omani Rial
1 Philippine Peso = 0.02137 Panama Balboa
1 Philippine Peso = 0.072 Peruvian Nuevo Sol
1 Philippine Peso = 0.06772 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.24193 Pakistani Rupee
1 Philippine Peso = 0.08411 Polish Zloty
1 Philippine Peso = 121.69431 Paraguayan Guarani
1 Philippine Peso = 0.07787 Qatar Rial
1 Philippine Peso = 0.08649 Romanian New Leu
1 Philippine Peso = 1.41085 Russian Rouble
1 Philippine Peso = 16.71126 Rwanda Franc
1 Philippine Peso = 0.08021 Saudi Arabian Riyal
1 Philippine Peso = 0.16695 Solomon Islands Dollar
1 Philippine Peso = 0.27885 Seychelles Rupee
1 Philippine Peso = 0.13014 Sudanese Pound
1 Philippine Peso = 0.17817 Swedish Krona
1 Philippine Peso = 0.02949 Singapore Dollar
1 Philippine Peso = 0.01484 St Helena Pound
1 Philippine Peso = 0.47493 Slovak Koruna
1 Philippine Peso = 84.43746 Sierra Leone Leone
1 Philippine Peso = 12.61964 Somali Shilling
1 Philippine Peso = 469.99882 Sao Tome Dobra
1 Philippine Peso = 0.18665 El Salvador Colon
1 Philippine Peso = 4.70217 Syrian Pound
1 Philippine Peso = 0.33824 Swaziland Lilageni
1 Philippine Peso = 0.76325 Thai Baht
1 Philippine Peso = 0.04494 Tunisian Dinar
1 Philippine Peso = 0.04816 Tonga Pa'ang
1 Philippine Peso = 0.06316 Turkish Lira
1 Philippine Peso = 0.14183 Trinidad Tobago Dollar
1 Philippine Peso = 0.69744 Taiwan Dollar
1 Philippine Peso = 46.81916 Tanzanian Shilling
1 Philippine Peso = 0.53682 Ukraine Hryvnia
1 Philippine Peso = 71.92583 Ugandan Shilling
1 Philippine Peso = 0.02139 United States Dollar
1 Philippine Peso = 0.66162 Uruguayan New Peso
1 Philippine Peso = 62.55023 Uzbekistan Sum
1 Philippine Peso = 0.2128 Venezuelan Bolivar
1 Philippine Peso = 478.8639 Vietnam Dong
1 Philippine Peso = 2.40095 Vanuatu Vatu
1 Philippine Peso = 0.05565 Samoa Tala
1 Philippine Peso = 12.58508 CFA Franc (BEAC)
1 Philippine Peso = 0.05775 East Caribbean Dollar
1 Philippine Peso = 12.58508 CFA Franc (BCEAO)
1 Philippine Peso = 2.28948 Pacific Franc
1 Philippine Peso = 5.35754 Yemen Riyal
1 Philippine Peso = 0.33834 South African Rand
1 Philippine Peso = 110.98992 Zambian Kwacha
1 Philippine Peso = 7.7401 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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