March 6, 2015, 1:55 pm
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.08331 UAE Dirham
1 Philippine Peso = 2.85389 Albanian Lek
1 Philippine Peso = 0.0406 Neth Antilles Guilder
1 Philippine Peso = 0.19806 Argentine Peso
1 Philippine Peso = 0.02895 Australian Dollar
1 Philippine Peso = 0.0406 Aruba Florin
1 Philippine Peso = 0.04536 Barbados Dollar
1 Philippine Peso = 1.76446 Bangladesh Taka
1 Philippine Peso = 0.03963 Bulgarian Lev
1 Philippine Peso = 0.00855 Bahraini Dinar
1 Philippine Peso = 35.60858 Burundi Franc
1 Philippine Peso = 0.02268 Bermuda Dollar
1 Philippine Peso = 0.03091 Brunei Dollar
1 Philippine Peso = 0.15672 Bolivian Boliviano
1 Philippine Peso = 0.06588 Brazilian Real
1 Philippine Peso = 0.02268 Bahamian Dollar
1 Philippine Peso = 1.40399 Bhutan Ngultrum
1 Philippine Peso = 0.2205 Botswana Pula
1 Philippine Peso = 342.4774 Belarus Ruble
1 Philippine Peso = 0.04525 Belize Dollar
1 Philippine Peso = 0.02825 Canadian Dollar
1 Philippine Peso = 0.02175 Swiss Franc
1 Philippine Peso = 13.99746 Chilean Peso
1 Philippine Peso = 0.14223 Chinese Yuan
1 Philippine Peso = 58.22853 Colombian Peso
1 Philippine Peso = 12.10601 Costa Rica Colon
1 Philippine Peso = 0.02268 Cuban Peso
1 Philippine Peso = 2.22042 Cape Verde Escudo
1 Philippine Peso = 0.5564 Czech Koruna
1 Philippine Peso = 4.02059 Djibouti Franc
1 Philippine Peso = 0.15103 Danish Krone
1 Philippine Peso = 1.01552 Dominican Peso
1 Philippine Peso = 2.15579 Algerian Dinar
1 Philippine Peso = 0.31704 Estonian Kroon
1 Philippine Peso = 0.17299 Egyptian Pound
1 Philippine Peso = 0.46165 Ethiopian Birr
1 Philippine Peso = 0.02026 Euro
1 Philippine Peso = 0.04631 Fiji Dollar
1 Philippine Peso = 0.01467 Falkland Islands Pound
1 Philippine Peso = 0.01475 British Pound
1 Philippine Peso = 0.07938 Ghanaian Cedi
1 Philippine Peso = 0.97753 Gambian Dalasi
1 Philippine Peso = 164.43452 Guinea Franc
1 Philippine Peso = 0.17297 Guatemala Quetzal
1 Philippine Peso = 4.69965 Guyana Dollar
1 Philippine Peso = 0.17587 Hong Kong Dollar
1 Philippine Peso = 0.47629 Honduras Lempira
1 Philippine Peso = 0.15531 Croatian Kuna
1 Philippine Peso = 1.06926 Haiti Gourde
1 Philippine Peso = 6.21075 Hungarian Forint
1 Philippine Peso = 294.72335 Indonesian Rupiah
1 Philippine Peso = 0.09014 Israeli Shekel
1 Philippine Peso = 1.40226 Indian Rupee
1 Philippine Peso = 26.4388 Iraqi Dinar
1 Philippine Peso = 629.81821 Iran Rial
1 Philippine Peso = 3.02877 Iceland Krona
1 Philippine Peso = 2.6161 Jamaican Dollar
1 Philippine Peso = 0.01607 Jordanian Dinar
1 Philippine Peso = 2.71117 Japanese Yen
1 Philippine Peso = 2.0707 Kenyan Shilling
1 Philippine Peso = 1.39094 Kyrgyzstan Som
1 Philippine Peso = 91.90075 Cambodia Riel
1 Philippine Peso = 9.97643 Comoros Franc
1 Philippine Peso = 20.41256 North Korean Won
1 Philippine Peso = 24.87735 Korean Won
1 Philippine Peso = 0.00672 Kuwaiti Dinar
1 Philippine Peso = 0.0186 Cayman Islands Dollar
1 Philippine Peso = 4.19909 Kazakhstan Tenge
1 Philippine Peso = 183.91604 Lao Kip
1 Philippine Peso = 34.14568 Lebanese Pound
1 Philippine Peso = 3.0197 Sri Lanka Rupee
1 Philippine Peso = 1.92007 Liberian Dollar
1 Philippine Peso = 0.26678 Lesotho Loti
1 Philippine Peso = 0.06654 Lithuanian Lita
1 Philippine Peso = 0.01425 Latvian Lat
1 Philippine Peso = 0.03084 Libyan Dinar
1 Philippine Peso = 0.21926 Moroccan Dirham
1 Philippine Peso = 0.41347 Moldovan Leu
1 Philippine Peso = 1.24732 Macedonian Denar
1 Philippine Peso = 23.5062 Myanmar Kyat
1 Philippine Peso = 44.77155 Mongolian Tugrik
1 Philippine Peso = 0.18116 Macau Pataca
1 Philippine Peso = 6.59269 Mauritania Ougulya
1 Philippine Peso = 0.76774 Mauritius Rupee
1 Philippine Peso = 0.34928 Maldives Rufiyaa
1 Philippine Peso = 10.54638 Malawi Kwacha
1 Philippine Peso = 0.33929 Mexican Peso
1 Philippine Peso = 0.08234 Malaysian Ringgit
1 Philippine Peso = 0.26678 Namibian Dollar
1 Philippine Peso = 4.53045 Nigerian Naira
1 Philippine Peso = 0.60829 Nicaragua Cordoba
1 Philippine Peso = 0.17478 Norwegian Krone
1 Philippine Peso = 2.24638 Nepalese Rupee
1 Philippine Peso = 0.03 New Zealand Dollar
1 Philippine Peso = 0.00873 Omani Rial
1 Philippine Peso = 0.02268 Panama Balboa
1 Philippine Peso = 0.07012 Peruvian Nuevo Sol
1 Philippine Peso = 0.05994 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.31093 Pakistani Rupee
1 Philippine Peso = 0.08443 Polish Zloty
1 Philippine Peso = 106.07035 Paraguayan Guarani
1 Philippine Peso = 0.08258 Qatar Rial
1 Philippine Peso = 0.09028 Romanian New Leu
1 Philippine Peso = 1.40817 Russian Rouble
1 Philippine Peso = 15.66097 Rwanda Franc
1 Philippine Peso = 0.08506 Saudi Arabian Riyal
1 Philippine Peso = 0.17584 Solomon Islands Dollar
1 Philippine Peso = 0.31538 Seychelles Rupee
1 Philippine Peso = 0.12911 Sudanese Pound
1 Philippine Peso = 0.18752 Swedish Krona
1 Philippine Peso = 0.03089 Singapore Dollar
1 Philippine Peso = 0.01477 St Helena Pound
1 Philippine Peso = 0.50365 Slovak Koruna
1 Philippine Peso = 99.79474 Sierra Leone Leone
1 Philippine Peso = 15.96602 Somali Shilling
1 Philippine Peso = 496.13862 Sao Tome Dobra
1 Philippine Peso = 0.19834 El Salvador Colon
1 Philippine Peso = 4.28503 Syrian Pound
1 Philippine Peso = 0.26678 Swaziland Lilageni
1 Philippine Peso = 0.73413 Thai Baht
1 Philippine Peso = 0.0442 Tunisian Dinar
1 Philippine Peso = 0.04468 Tonga Pa'ang
1 Philippine Peso = 0.05751 Turkish Lira
1 Philippine Peso = 0.14339 Trinidad Tobago Dollar
1 Philippine Peso = 0.71069 Taiwan Dollar
1 Philippine Peso = 41.61327 Tanzanian Shilling
1 Philippine Peso = 0.55001 Ukraine Hryvnia
1 Philippine Peso = 66.00061 Ugandan Shilling
1 Philippine Peso = 0.02268 United States Dollar
1 Philippine Peso = 0.5567 Uruguayan New Peso
1 Philippine Peso = 55.94992 Uzbekistan Sum
1 Philippine Peso = 0.14402 Venezuelan Bolivar
1 Philippine Peso = 484.1746 Vietnam Dong
1 Philippine Peso = 2.44724 Vanuatu Vatu
1 Philippine Peso = 0.05639 Samoa Tala
1 Philippine Peso = 13.3019 CFA Franc (BEAC)
1 Philippine Peso = 0.06124 East Caribbean Dollar
1 Philippine Peso = 13.3019 CFA Franc (BCEAO)
1 Philippine Peso = 2.41988 Pacific Franc
1 Philippine Peso = 4.87769 Yemen Riyal
1 Philippine Peso = 0.26672 South African Rand
1 Philippine Peso = 117.70109 Zambian Kwacha
1 Philippine Peso = 8.20812 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

Handling tragedy, humiliation

By DAHLI ASPILLERA | March 06,2015
0 View(s) 0 Comment(s)
“Where are you getting all this money that is supporting our extravagant lifestyle? In the Philippines, children should ask this question of their parent bringing home more money than he is legally earning as a politician.”

Opinion of the Day

Least educated billionaire

By AMADO P. MACASAET | March 06, 2015
0 View(s) 0 Comment(s)
‘The secret of successful retail is high volume low margin.’