September 3, 2014, 12:37 pm
Facebook iconTwitter iconLinkedIn iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.08409 UAE Dirham
1 Philippine Peso = 2.42823 Albanian Lek
1 Philippine Peso = 0.04098 Neth Antilles Guilder
1 Philippine Peso = 0.19242 Argentine Peso
1 Philippine Peso = 0.0245 Australian Dollar
1 Philippine Peso = 0.04075 Aruba Florin
1 Philippine Peso = 0.04579 Barbados Dollar
1 Philippine Peso = 1.77656 Bangladesh Taka
1 Philippine Peso = 0.03407 Bulgarian Lev
1 Philippine Peso = 0.00863 Bahraini Dinar
1 Philippine Peso = 35.4739 Burundi Franc
1 Philippine Peso = 0.02289 Bermuda Dollar
1 Philippine Peso = 0.0286 Brunei Dollar
1 Philippine Peso = 0.1582 Bolivian Boliviano
1 Philippine Peso = 0.05215 Brazilian Real
1 Philippine Peso = 0.02289 Bahamian Dollar
1 Philippine Peso = 1.38496 Bhutan Ngultrum
1 Philippine Peso = 0.2035 Botswana Pula
1 Philippine Peso = 238.78205 Belarus Ruble
1 Philippine Peso = 0.04567 Belize Dollar
1 Philippine Peso = 0.02488 Canadian Dollar
1 Philippine Peso = 0.02104 Swiss Franc
1 Philippine Peso = 13.43315 Chilean Peso
1 Philippine Peso = 0.14062 Chinese Yuan
1 Philippine Peso = 44.08196 Colombian Peso
1 Philippine Peso = 12.40614 Costa Rica Colon
1 Philippine Peso = 0.02289 Cuban Peso
1 Philippine Peso = 1.88233 Cape Verde Escudo
1 Philippine Peso = 0.48348 Czech Koruna
1 Philippine Peso = 4.14835 Djibouti Franc
1 Philippine Peso = 0.12991 Danish Krone
1 Philippine Peso = 0.99931 Dominican Peso
1 Philippine Peso = 1.85462 Algerian Dinar
1 Philippine Peso = 0.27288 Estonian Kroon
1 Philippine Peso = 0.1637 Egyptian Pound
1 Philippine Peso = 0.45499 Ethiopian Birr
1 Philippine Peso = 0.01744 Euro
1 Philippine Peso = 0.04264 Fiji Dollar
1 Philippine Peso = 0.01379 Falkland Islands Pound
1 Philippine Peso = 0.01379 British Pound
1 Philippine Peso = 0.08522 Ghanaian Cedi
1 Philippine Peso = 0.90659 Gambian Dalasi
1 Philippine Peso = 160.94322 Guinea Franc
1 Philippine Peso = 0.17785 Guatemala Quetzal
1 Philippine Peso = 4.77221 Guyana Dollar
1 Philippine Peso = 0.17743 Hong Kong Dollar
1 Philippine Peso = 0.48321 Honduras Lempira
1 Philippine Peso = 0.1329 Croatian Kuna
1 Philippine Peso = 1.03899 Haiti Gourde
1 Philippine Peso = 5.49679 Hungarian Forint
1 Philippine Peso = 267.58242 Indonesian Rupiah
1 Philippine Peso = 0.08179 Israeli Shekel
1 Philippine Peso = 1.38519 Indian Rupee
1 Philippine Peso = 26.62546 Iraqi Dinar
1 Philippine Peso = 608.67674 Iran Rial
1 Philippine Peso = 2.6756 Iceland Krona
1 Philippine Peso = 2.57853 Jamaican Dollar
1 Philippine Peso = 0.0162 Jordanian Dinar
1 Philippine Peso = 2.38519 Japanese Yen
1 Philippine Peso = 2.02152 Kenyan Shilling
1 Philippine Peso = 1.21206 Kyrgyzstan Som
1 Philippine Peso = 93.06319 Cambodia Riel
1 Philippine Peso = 8.58428 Comoros Franc
1 Philippine Peso = 20.6044 North Korean Won
1 Philippine Peso = 23.20742 Korean Won
1 Philippine Peso = 0.00652 Kuwaiti Dinar
1 Philippine Peso = 0.01877 Cayman Islands Dollar
1 Philippine Peso = 4.16838 Kazakhstan Tenge
1 Philippine Peso = 184.19185 Lao Kip
1 Philippine Peso = 34.62683 Lebanese Pound
1 Philippine Peso = 2.98111 Sri Lanka Rupee
1 Philippine Peso = 1.88874 Liberian Dollar
1 Philippine Peso = 0.24341 Lesotho Loti
1 Philippine Peso = 0.06022 Lithuanian Lita
1 Philippine Peso = 0.01225 Latvian Lat
1 Philippine Peso = 0.02811 Libyan Dinar
1 Philippine Peso = 0.19418 Moroccan Dirham
1 Philippine Peso = 0.31834 Moldovan Leu
1 Philippine Peso = 1.06777 Macedonian Denar
1 Philippine Peso = 22.29853 Myanmar Kyat
1 Philippine Peso = 41.83837 Mongolian Tugrik
1 Philippine Peso = 0.18275 Macau Pataca
1 Philippine Peso = 6.65064 Mauritania Ougulya
1 Philippine Peso = 0.71142 Mauritius Rupee
1 Philippine Peso = 0.35234 Maldives Rufiyaa
1 Philippine Peso = 9.04418 Malawi Kwacha
1 Philippine Peso = 0.29951 Mexican Peso
1 Philippine Peso = 0.07216 Malaysian Ringgit
1 Philippine Peso = 0.24451 Namibian Dollar
1 Philippine Peso = 3.71474 Nigerian Naira
1 Philippine Peso = 0.59902 Nicaragua Cordoba
1 Philippine Peso = 0.14185 Norwegian Krone
1 Philippine Peso = 2.21612 Nepalese Rupee
1 Philippine Peso = 0.02734 New Zealand Dollar
1 Philippine Peso = 0.00881 Omani Rial
1 Philippine Peso = 0.02289 Panama Balboa
1 Philippine Peso = 0.06479 Peruvian Nuevo Sol
1 Philippine Peso = 0.05662 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.32532 Pakistani Rupee
1 Philippine Peso = 0.07341 Polish Zloty
1 Philippine Peso = 97.67377 Paraguayan Guarani
1 Philippine Peso = 0.08337 Qatar Rial
1 Philippine Peso = 0.07677 Romanian New Leu
1 Philippine Peso = 0.84837 Russian Rouble
1 Philippine Peso = 15.7967 Rwanda Franc
1 Philippine Peso = 0.08586 Saudi Arabian Riyal
1 Philippine Peso = 0.16531 Solomon Islands Dollar
1 Philippine Peso = 0.29731 Seychelles Rupee
1 Philippine Peso = 0.13032 Sudanese Pound
1 Philippine Peso = 0.16008 Swedish Krona
1 Philippine Peso = 0.02861 Singapore Dollar
1 Philippine Peso = 0.01379 St Helena Pound
1 Philippine Peso = 0.50838 Slovak Koruna
1 Philippine Peso = 100.7326 Sierra Leone Leone
1 Philippine Peso = 19.09341 Somali Shilling
1 Philippine Peso = 423.19139 Sao Tome Dobra
1 Philippine Peso = 0.20025 El Salvador Colon
1 Philippine Peso = 3.5016 Syrian Pound
1 Philippine Peso = 0.24522 Swaziland Lilageni
1 Philippine Peso = 0.73157 Thai Baht
1 Philippine Peso = 0.03967 Tunisian Dinar
1 Philippine Peso = 0.04227 Tonga Pa'ang
1 Philippine Peso = 0.04947 Turkish Lira
1 Philippine Peso = 0.14527 Trinidad Tobago Dollar
1 Philippine Peso = 0.68484 Taiwan Dollar
1 Philippine Peso = 38.038 Tanzanian Shilling
1 Philippine Peso = 0.3061 Ukraine Hryvnia
1 Philippine Peso = 59.36355 Ugandan Shilling
1 Philippine Peso = 0.02289 United States Dollar
1 Philippine Peso = 0.55037 Uruguayan New Peso
1 Philippine Peso = 53.75504 Uzbekistan Sum
1 Philippine Peso = 0.14406 Venezuelan Bolivar
1 Philippine Peso = 484.77564 Vietnam Dong
1 Philippine Peso = 2.16071 Vanuatu Vatu
1 Philippine Peso = 0.05273 Samoa Tala
1 Philippine Peso = 11.4457 CFA Franc (BEAC)
1 Philippine Peso = 0.06181 East Caribbean Dollar
1 Philippine Peso = 11.35531 CFA Franc (BCEAO)
1 Philippine Peso = 2.06227 Pacific Franc
1 Philippine Peso = 4.91999 Yemen Riyal
1 Philippine Peso = 0.24389 South African Rand
1 Philippine Peso = 118.80723 Zambian Kwacha
1 Philippine Peso = 8.28526 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.
Rating: 
No votes yet

Column of the Day

NAIA3 foiled bomb try: Comic relief or diversionary tactic?

By ELLEN TORDESILLAS | September 03,2014
0 View(s) 0 Comment(s)

‘Catapang dismissed the group as “a comic relief.” But apparently, the President does not share his top military official’s nonchalance.’

Opinion of the Day

Business climate and the Charter

By AMADO P. MACASAET | September 03, 2014
0 View(s) 0 Comment(s)
‘An ideal business climate is necessarily a function of effective, honest leadership. Nothing substitutes for that.’