May 7, 2016, 2:43 am
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1 Philippine Peso = 0.07796 UAE Dirham
1 Philippine Peso = 2.56735 Albanian Lek
1 Philippine Peso = 0.03799 Neth Antilles Guilder
1 Philippine Peso = 0.30162 Argentine Peso
1 Philippine Peso = 0.02886 Australian Dollar
1 Philippine Peso = 0.03799 Aruba Florin
1 Philippine Peso = 0.04245 Barbados Dollar
1 Philippine Peso = 1.66365 Bangladesh Taka
1 Philippine Peso = 0.03644 Bulgarian Lev
1 Philippine Peso = 0.008 Bahraini Dinar
1 Philippine Peso = 33.32307 Burundi Franc
1 Philippine Peso = 0.02122 Bermuda Dollar
1 Philippine Peso = 0.02888 Brunei Dollar
1 Philippine Peso = 0.14656 Bolivian Boliviano
1 Philippine Peso = 0.07436 Brazilian Real
1 Philippine Peso = 0.02122 Bahamian Dollar
1 Philippine Peso = 1.41326 Bhutan Ngultrum
1 Philippine Peso = 0.22422 Botswana Pula
1 Philippine Peso = 412.71795 Belarus Ruble
1 Philippine Peso = 0.04234 Belize Dollar
1 Philippine Peso = 0.02747 Canadian Dollar
1 Philippine Peso = 0.02064 Swiss Franc
1 Philippine Peso = 14.19298 Chilean Peso
1 Philippine Peso = 0.13803 Chinese Yuan
1 Philippine Peso = 62.78216 Colombian Peso
1 Philippine Peso = 11.38015 Costa Rica Colon
1 Philippine Peso = 0.02122 Cuban Peso
1 Philippine Peso = 2.04607 Cape Verde Escudo
1 Philippine Peso = 0.50359 Czech Koruna
1 Philippine Peso = 3.7601 Djibouti Franc
1 Philippine Peso = 0.13864 Danish Krone
1 Philippine Peso = 0.9669 Dominican Peso
1 Philippine Peso = 2.32062 Algerian Dinar
1 Philippine Peso = 0.29158 Estonian Kroon
1 Philippine Peso = 0.18854 Egyptian Pound
1 Philippine Peso = 0.4573 Ethiopian Birr
1 Philippine Peso = 0.01864 Euro
1 Philippine Peso = 0.0444 Fiji Dollar
1 Philippine Peso = 0.014 Falkland Islands Pound
1 Philippine Peso = 0.01472 British Pound
1 Philippine Peso = 0.08134 Ghanaian Cedi
1 Philippine Peso = 0.90439 Gambian Dalasi
1 Philippine Peso = 159.16119 Guinea Franc
1 Philippine Peso = 0.16344 Guatemala Quetzal
1 Philippine Peso = 4.39801 Guyana Dollar
1 Philippine Peso = 0.16471 Hong Kong Dollar
1 Philippine Peso = 0.4794 Honduras Lempira
1 Philippine Peso = 0.13979 Croatian Kuna
1 Philippine Peso = 1.31695 Haiti Gourde
1 Philippine Peso = 5.8516 Hungarian Forint
1 Philippine Peso = 283.2992 Indonesian Rupiah
1 Philippine Peso = 0.08038 Israeli Shekel
1 Philippine Peso = 1.41401 Indian Rupee
1 Philippine Peso = 23.49807 Iraqi Dinar
1 Philippine Peso = 643.68719 Iran Rial
1 Philippine Peso = 2.60153 Iceland Krona
1 Philippine Peso = 2.60132 Jamaican Dollar
1 Philippine Peso = 0.01503 Jordanian Dinar
1 Philippine Peso = 2.27361 Japanese Yen
1 Philippine Peso = 2.13086 Kenyan Shilling
1 Philippine Peso = 1.44879 Kyrgyzstan Som
1 Philippine Peso = 86.17199 Cambodia Riel
1 Philippine Peso = 9.15199 Comoros Franc
1 Philippine Peso = 19.1024 North Korean Won
1 Philippine Peso = 24.82983 Korean Won
1 Philippine Peso = 0.00637 Kuwaiti Dinar
1 Philippine Peso = 0.0174 Cayman Islands Dollar
1 Philippine Peso = 6.92154 Kazakhstan Tenge
1 Philippine Peso = 172.13279 Lao Kip
1 Philippine Peso = 32.00713 Lebanese Pound
1 Philippine Peso = 3.09565 Sri Lanka Rupee
1 Philippine Peso = 1.79711 Liberian Dollar
1 Philippine Peso = 0.31583 Lesotho Loti
1 Philippine Peso = 0.06471 Lithuanian Lita
1 Philippine Peso = 0.01317 Latvian Lat
1 Philippine Peso = 0.02886 Libyan Dinar
1 Philippine Peso = 0.20412 Moroccan Dirham
1 Philippine Peso = 0.41877 Moldovan Leu
1 Philippine Peso = 1.14583 Macedonian Denar
1 Philippine Peso = 24.8692 Myanmar Kyat
1 Philippine Peso = 42.85305 Mongolian Tugrik
1 Philippine Peso = 0.16964 Macau Pataca
1 Philippine Peso = 7.32259 Mauritania Ougulya
1 Philippine Peso = 0.74457 Mauritius Rupee
1 Philippine Peso = 0.32623 Maldives Rufiyaa
1 Philippine Peso = 14.58988 Malawi Kwacha
1 Philippine Peso = 0.37914 Mexican Peso
1 Philippine Peso = 0.08488 Malaysian Ringgit
1 Philippine Peso = 0.31583 Namibian Dollar
1 Philippine Peso = 4.22481 Nigerian Naira
1 Philippine Peso = 0.6029 Nicaragua Cordoba
1 Philippine Peso = 0.17424 Norwegian Krone
1 Philippine Peso = 2.26121 Nepalese Rupee
1 Philippine Peso = 0.03105 New Zealand Dollar
1 Philippine Peso = 0.00817 Omani Rial
1 Philippine Peso = 0.02122 Panama Balboa
1 Philippine Peso = 0.07029 Peruvian Nuevo Sol
1 Philippine Peso = 0.06689 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.22225 Pakistani Rupee
1 Philippine Peso = 0.08259 Polish Zloty
1 Philippine Peso = 119.02577 Paraguayan Guarani
1 Philippine Peso = 0.07727 Qatar Rial
1 Philippine Peso = 0.08378 Romanian New Leu
1 Philippine Peso = 1.39889 Russian Rouble
1 Philippine Peso = 16.52124 Rwanda Franc
1 Philippine Peso = 0.0796 Saudi Arabian Riyal
1 Philippine Peso = 0.16606 Solomon Islands Dollar
1 Philippine Peso = 0.28251 Seychelles Rupee
1 Philippine Peso = 0.12945 Sudanese Pound
1 Philippine Peso = 0.17306 Swedish Krona
1 Philippine Peso = 0.02891 Singapore Dollar
1 Philippine Peso = 0.01489 St Helena Pound
1 Philippine Peso = 0.47132 Slovak Koruna
1 Philippine Peso = 83.77463 Sierra Leone Leone
1 Philippine Peso = 12.88245 Somali Shilling
1 Philippine Peso = 455.07222 Sao Tome Dobra
1 Philippine Peso = 0.18523 El Salvador Colon
1 Philippine Peso = 4.66644 Syrian Pound
1 Philippine Peso = 0.31583 Swaziland Lilageni
1 Philippine Peso = 0.74626 Thai Baht
1 Philippine Peso = 0.04275 Tunisian Dinar
1 Philippine Peso = 0.04665 Tonga Pa'ang
1 Philippine Peso = 0.0621 Turkish Lira
1 Philippine Peso = 0.14071 Trinidad Tobago Dollar
1 Philippine Peso = 0.68809 Taiwan Dollar
1 Philippine Peso = 46.47402 Tanzanian Shilling
1 Philippine Peso = 0.53444 Ukraine Hryvnia
1 Philippine Peso = 70.74255 Ugandan Shilling
1 Philippine Peso = 0.02122 United States Dollar
1 Philippine Peso = 0.66954 Uruguayan New Peso
1 Philippine Peso = 61.42313 Uzbekistan Sum
1 Philippine Peso = 0.21119 Venezuelan Bolivar
1 Philippine Peso = 473.15582 Vietnam Dong
1 Philippine Peso = 2.29972 Vanuatu Vatu
1 Philippine Peso = 0.0542 Samoa Tala
1 Philippine Peso = 12.20265 CFA Franc (BEAC)
1 Philippine Peso = 0.05731 East Caribbean Dollar
1 Philippine Peso = 12.20265 CFA Franc (BCEAO)
1 Philippine Peso = 2.21991 Pacific Franc
1 Philippine Peso = 5.30304 Yemen Riyal
1 Philippine Peso = 0.31603 South African Rand
1 Philippine Peso = 110.14656 Zambian Kwacha
1 Philippine Peso = 7.68129 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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