August 31, 2015, 6:47 pm
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1 Philippine Peso = 0.07849 UAE Dirham
1 Philippine Peso = 2.65445 Albanian Lek
1 Philippine Peso = 0.03826 Neth Antilles Guilder
1 Philippine Peso = 0.1985 Argentine Peso
1 Philippine Peso = 0.02983 Australian Dollar
1 Philippine Peso = 0.03826 Aruba Florin
1 Philippine Peso = 0.04274 Barbados Dollar
1 Philippine Peso = 1.67056 Bangladesh Taka
1 Philippine Peso = 0.03712 Bulgarian Lev
1 Philippine Peso = 0.00806 Bahraini Dinar
1 Philippine Peso = 33.12603 Burundi Franc
1 Philippine Peso = 0.02137 Bermuda Dollar
1 Philippine Peso = 0.02995 Brunei Dollar
1 Philippine Peso = 0.14746 Bolivian Boliviano
1 Philippine Peso = 0.07593 Brazilian Real
1 Philippine Peso = 0.02137 Bahamian Dollar
1 Philippine Peso = 1.41245 Bhutan Ngultrum
1 Philippine Peso = 0.21937 Botswana Pula
1 Philippine Peso = 377.74358 Belarus Ruble
1 Philippine Peso = 0.04264 Belize Dollar
1 Philippine Peso = 0.0282 Canadian Dollar
1 Philippine Peso = 0.02063 Swiss Franc
1 Philippine Peso = 14.84249 Chilean Peso
1 Philippine Peso = 0.13664 Chinese Yuan
1 Philippine Peso = 67.58778 Colombian Peso
1 Philippine Peso = 11.37783 Costa Rica Colon
1 Philippine Peso = 0.02137 Cuban Peso
1 Philippine Peso = 2.09594 Cape Verde Escudo
1 Philippine Peso = 0.51341 Czech Koruna
1 Philippine Peso = 3.7971 Djibouti Franc
1 Philippine Peso = 0.14164 Danish Krone
1 Philippine Peso = 0.95937 Dominican Peso
1 Philippine Peso = 2.26518 Algerian Dinar
1 Philippine Peso = 0.29694 Estonian Kroon
1 Philippine Peso = 0.16738 Egyptian Pound
1 Philippine Peso = 0.44525 Ethiopian Birr
1 Philippine Peso = 0.01898 Euro
1 Philippine Peso = 0.0462 Fiji Dollar
1 Philippine Peso = 0.01386 Falkland Islands Pound
1 Philippine Peso = 0.01384 British Pound
1 Philippine Peso = 0.08591 Ghanaian Cedi
1 Philippine Peso = 0.84696 Gambian Dalasi
1 Philippine Peso = 155.53633 Guinea Franc
1 Philippine Peso = 0.16397 Guatemala Quetzal
1 Philippine Peso = 4.42842 Guyana Dollar
1 Philippine Peso = 0.16564 Hong Kong Dollar
1 Philippine Peso = 0.46994 Honduras Lempira
1 Philippine Peso = 0.14327 Croatian Kuna
1 Philippine Peso = 1.09949 Haiti Gourde
1 Philippine Peso = 5.99357 Hungarian Forint
1 Philippine Peso = 299.56616 Indonesian Rupiah
1 Philippine Peso = 0.08362 Israeli Shekel
1 Philippine Peso = 1.41277 Indian Rupee
1 Philippine Peso = 24.56348 Iraqi Dinar
1 Philippine Peso = 639.65292 Iran Rial
1 Philippine Peso = 2.76912 Iceland Krona
1 Philippine Peso = 2.50924 Jamaican Dollar
1 Philippine Peso = 0.01514 Jordanian Dinar
1 Philippine Peso = 2.58511 Japanese Yen
1 Philippine Peso = 2.21633 Kenyan Shilling
1 Philippine Peso = 1.41198 Kyrgyzstan Som
1 Philippine Peso = 87.97098 Cambodia Riel
1 Philippine Peso = 9.33388 Comoros Franc
1 Philippine Peso = 19.23447 North Korean Won
1 Philippine Peso = 25.14682 Korean Won
1 Philippine Peso = 0.00645 Kuwaiti Dinar
1 Philippine Peso = 0.01752 Cayman Islands Dollar
1 Philippine Peso = 5.16338 Kazakhstan Tenge
1 Philippine Peso = 175.1747 Lao Kip
1 Philippine Peso = 32.19636 Lebanese Pound
1 Philippine Peso = 2.88047 Sri Lanka Rupee
1 Philippine Peso = 1.80932 Liberian Dollar
1 Philippine Peso = 0.28053 Lesotho Loti
1 Philippine Peso = 0.06516 Lithuanian Lita
1 Philippine Peso = 0.01326 Latvian Lat
1 Philippine Peso = 0.02934 Libyan Dinar
1 Philippine Peso = 0.20694 Moroccan Dirham
1 Philippine Peso = 0.40713 Moldovan Leu
1 Philippine Peso = 1.17181 Macedonian Denar
1 Philippine Peso = 27.63801 Myanmar Kyat
1 Philippine Peso = 42.55092 Mongolian Tugrik
1 Philippine Peso = 0.17061 Macau Pataca
1 Philippine Peso = 6.66795 Mauritania Ougulya
1 Philippine Peso = 0.75079 Mauritius Rupee
1 Philippine Peso = 0.32827 Maldives Rufiyaa
1 Philippine Peso = 11.87696 Malawi Kwacha
1 Philippine Peso = 0.36051 Mexican Peso
1 Philippine Peso = 0.09005 Malaysian Ringgit
1 Philippine Peso = 0.28053 Namibian Dollar
1 Philippine Peso = 4.25573 Nigerian Naira
1 Philippine Peso = 0.58698 Nicaragua Cordoba
1 Philippine Peso = 0.17711 Norwegian Krone
1 Philippine Peso = 2.25992 Nepalese Rupee
1 Philippine Peso = 0.03301 New Zealand Dollar
1 Philippine Peso = 0.00823 Omani Rial
1 Philippine Peso = 0.02137 Panama Balboa
1 Philippine Peso = 0.07012 Peruvian Nuevo Sol
1 Philippine Peso = 0.05948 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.21955 Pakistani Rupee
1 Philippine Peso = 0.08047 Polish Zloty
1 Philippine Peso = 115.26789 Paraguayan Guarani
1 Philippine Peso = 0.07782 Qatar Rial
1 Philippine Peso = 0.08423 Romanian New Leu
1 Philippine Peso = 1.41281 Russian Rouble
1 Philippine Peso = 15.5874 Rwanda Franc
1 Philippine Peso = 0.08015 Saudi Arabian Riyal
1 Philippine Peso = 0.1703 Solomon Islands Dollar
1 Philippine Peso = 0.27729 Seychelles Rupee
1 Philippine Peso = 0.12988 Sudanese Pound
1 Philippine Peso = 0.18092 Swedish Krona
1 Philippine Peso = 0.02998 Singapore Dollar
1 Philippine Peso = 0.01386 St Helena Pound
1 Philippine Peso = 0.47458 Slovak Koruna
1 Philippine Peso = 99.33534 Sierra Leone Leone
1 Philippine Peso = 14.12665 Somali Shilling
1 Philippine Peso = 465.67716 Sao Tome Dobra
1 Philippine Peso = 0.18668 El Salvador Colon
1 Philippine Peso = 4.03543 Syrian Pound
1 Philippine Peso = 0.28053 Swaziland Lilageni
1 Philippine Peso = 0.76689 Thai Baht
1 Philippine Peso = 0.04187 Tunisian Dinar
1 Philippine Peso = 0.04545 Tonga Pa'ang
1 Philippine Peso = 0.06218 Turkish Lira
1 Philippine Peso = 0.13543 Trinidad Tobago Dollar
1 Philippine Peso = 0.69026 Taiwan Dollar
1 Philippine Peso = 46.01953 Tanzanian Shilling
1 Philippine Peso = 0.45201 Ukraine Hryvnia
1 Philippine Peso = 76.29672 Ugandan Shilling
1 Philippine Peso = 0.02137 United States Dollar
1 Philippine Peso = 0.60963 Uruguayan New Peso
1 Philippine Peso = 55.4705 Uzbekistan Sum
1 Philippine Peso = 0.13571 Venezuelan Bolivar
1 Philippine Peso = 480.27398 Vietnam Dong
1 Philippine Peso = 2.3917 Vanuatu Vatu
1 Philippine Peso = 0.056 Samoa Tala
1 Philippine Peso = 12.44518 CFA Franc (BEAC)
1 Philippine Peso = 0.0577 East Caribbean Dollar
1 Philippine Peso = 12.44518 CFA Franc (BCEAO)
1 Philippine Peso = 2.26403 Pacific Franc
1 Philippine Peso = 4.59255 Yemen Riyal
1 Philippine Peso = 0.28081 South African Rand
1 Philippine Peso = 110.90808 Zambian Kwacha
1 Philippine Peso = 7.73439 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

Executive instrusions into the congressional power of the purse

By BENJAMIN DIOKNO | August 31,2015
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‘The power to augment by the President is a delegated power of Congress, which in essence diminishes the power of the purse of the latter but does not and should not override its authority over the purse.’

Opinion of the Day

INC’s right of assembly

By AMADO P. MACASAET | August 31, 2015
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‘But they (INC proTesters) cannot demand that government succumb to them.’
thought