May 31, 2015, 4:21 am
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1 Philippine Peso = 0.08246 UAE Dirham
1 Philippine Peso = 2.88683 Albanian Lek
1 Philippine Peso = 0.04018 Neth Antilles Guilder
1 Philippine Peso = 0.20205 Argentine Peso
1 Philippine Peso = 0.02937 Australian Dollar
1 Philippine Peso = 0.04018 Aruba Florin
1 Philippine Peso = 0.0449 Barbados Dollar
1 Philippine Peso = 1.7473 Bangladesh Taka
1 Philippine Peso = 0.03994 Bulgarian Lev
1 Philippine Peso = 0.00847 Bahraini Dinar
1 Philippine Peso = 35.01919 Burundi Franc
1 Philippine Peso = 0.02245 Bermuda Dollar
1 Philippine Peso = 0.03025 Brunei Dollar
1 Philippine Peso = 0.15512 Bolivian Boliviano
1 Philippine Peso = 0.07133 Brazilian Real
1 Philippine Peso = 0.02245 Bahamian Dollar
1 Philippine Peso = 1.43368 Bhutan Ngultrum
1 Philippine Peso = 0.2227 Botswana Pula
1 Philippine Peso = 335.6006 Belarus Ruble
1 Philippine Peso = 0.04478 Belize Dollar
1 Philippine Peso = 0.02796 Canadian Dollar
1 Philippine Peso = 0.02111 Swiss Franc
1 Philippine Peso = 13.87737 Chilean Peso
1 Philippine Peso = 0.13921 Chinese Yuan
1 Philippine Peso = 56.87633 Colombian Peso
1 Philippine Peso = 11.92897 Costa Rica Colon
1 Philippine Peso = 0.02245 Cuban Peso
1 Philippine Peso = 2.25874 Cape Verde Escudo
1 Philippine Peso = 0.56009 Czech Koruna
1 Philippine Peso = 3.97232 Djibouti Franc
1 Philippine Peso = 0.15265 Danish Krone
1 Philippine Peso = 1.00658 Dominican Peso
1 Philippine Peso = 2.23225 Algerian Dinar
1 Philippine Peso = 0.32202 Estonian Kroon
1 Philippine Peso = 0.17132 Egyptian Pound
1 Philippine Peso = 0.462 Ethiopian Birr
1 Philippine Peso = 0.02058 Euro
1 Philippine Peso = 0.04678 Fiji Dollar
1 Philippine Peso = 0.01433 Falkland Islands Pound
1 Philippine Peso = 0.01468 British Pound
1 Philippine Peso = 0.09136 Ghanaian Cedi
1 Philippine Peso = 0.96303 Gambian Dalasi
1 Philippine Peso = 167.37378 Guinea Franc
1 Philippine Peso = 0.17214 Guatemala Quetzal
1 Philippine Peso = 4.65149 Guyana Dollar
1 Philippine Peso = 0.17405 Hong Kong Dollar
1 Philippine Peso = 0.49109 Honduras Lempira
1 Philippine Peso = 0.15454 Croatian Kuna
1 Philippine Peso = 1.07723 Haiti Gourde
1 Philippine Peso = 6.31513 Hungarian Forint
1 Philippine Peso = 296.6642 Indonesian Rupiah
1 Philippine Peso = 0.08679 Israeli Shekel
1 Philippine Peso = 1.43102 Indian Rupee
1 Philippine Peso = 26.16226 Iraqi Dinar
1 Philippine Peso = 647.15918 Iran Rial
1 Philippine Peso = 3.01143 Iceland Krona
1 Philippine Peso = 2.60083 Jamaican Dollar
1 Philippine Peso = 0.0159 Jordanian Dinar
1 Philippine Peso = 2.78728 Japanese Yen
1 Philippine Peso = 2.19494 Kenyan Shilling
1 Philippine Peso = 1.3053 Kyrgyzstan Som
1 Philippine Peso = 91.711 Cambodia Riel
1 Philippine Peso = 10.04574 Comoros Franc
1 Philippine Peso = 20.20338 North Korean Won
1 Philippine Peso = 24.98698 Korean Won
1 Philippine Peso = 0.0068 Kuwaiti Dinar
1 Philippine Peso = 0.01841 Cayman Islands Dollar
1 Philippine Peso = 4.17469 Kazakhstan Tenge
1 Philippine Peso = 182.05379 Lao Kip
1 Philippine Peso = 33.84066 Lebanese Pound
1 Philippine Peso = 3.00537 Sri Lanka Rupee
1 Philippine Peso = 1.90046 Liberian Dollar
1 Philippine Peso = 0.2728 Lesotho Loti
1 Philippine Peso = 0.06586 Lithuanian Lita
1 Philippine Peso = 0.01435 Latvian Lat
1 Philippine Peso = 0.03064 Libyan Dinar
1 Philippine Peso = 0.22066 Moroccan Dirham
1 Philippine Peso = 0.40732 Moldovan Leu
1 Philippine Peso = 1.25744 Macedonian Denar
1 Philippine Peso = 24.54599 Myanmar Kyat
1 Philippine Peso = 42.93218 Mongolian Tugrik
1 Philippine Peso = 0.17926 Macau Pataca
1 Philippine Peso = 7.07118 Mauritania Ougulya
1 Philippine Peso = 0.79354 Mauritius Rupee
1 Philippine Peso = 0.34503 Maldives Rufiyaa
1 Philippine Peso = 9.8771 Malawi Kwacha
1 Philippine Peso = 0.34521 Mexican Peso
1 Philippine Peso = 0.08212 Malaysian Ringgit
1 Philippine Peso = 0.2728 Namibian Dollar
1 Philippine Peso = 4.46831 Nigerian Naira
1 Philippine Peso = 0.6091 Nicaragua Cordoba
1 Philippine Peso = 0.17444 Norwegian Krone
1 Philippine Peso = 2.29389 Nepalese Rupee
1 Philippine Peso = 0.03159 New Zealand Dollar
1 Philippine Peso = 0.00864 Omani Rial
1 Philippine Peso = 0.02245 Panama Balboa
1 Philippine Peso = 0.07086 Peruvian Nuevo Sol
1 Philippine Peso = 0.06111 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.28871 Pakistani Rupee
1 Philippine Peso = 0.08397 Polish Zloty
1 Philippine Peso = 114.93894 Paraguayan Guarani
1 Philippine Peso = 0.08171 Qatar Rial
1 Philippine Peso = 0.09072 Romanian New Leu
1 Philippine Peso = 1.17488 Russian Rouble
1 Philippine Peso = 15.39947 Rwanda Franc
1 Philippine Peso = 0.0842 Saudi Arabian Riyal
1 Philippine Peso = 0.17552 Solomon Islands Dollar
1 Philippine Peso = 0.30069 Seychelles Rupee
1 Philippine Peso = 0.1339 Sudanese Pound
1 Philippine Peso = 0.19171 Swedish Krona
1 Philippine Peso = 0.03025 Singapore Dollar
1 Philippine Peso = 0.01469 St Helena Pound
1 Philippine Peso = 0.49848 Slovak Koruna
1 Philippine Peso = 97.64967 Sierra Leone Leone
1 Philippine Peso = 15.59701 Somali Shilling
1 Philippine Peso = 502.72746 Sao Tome Dobra
1 Philippine Peso = 0.19631 El Salvador Colon
1 Philippine Peso = 4.23871 Syrian Pound
1 Philippine Peso = 0.2728 Swaziland Lilageni
1 Philippine Peso = 0.75627 Thai Baht
1 Philippine Peso = 0.04416 Tunisian Dinar
1 Philippine Peso = 0.04458 Tonga Pa'ang
1 Philippine Peso = 0.05977 Turkish Lira
1 Philippine Peso = 0.14257 Trinidad Tobago Dollar
1 Philippine Peso = 0.69259 Taiwan Dollar
1 Philippine Peso = 46.78093 Tanzanian Shilling
1 Philippine Peso = 0.47253 Ukraine Hryvnia
1 Philippine Peso = 68.57925 Ugandan Shilling
1 Philippine Peso = 0.02245 United States Dollar
1 Philippine Peso = 0.60442 Uruguayan New Peso
1 Philippine Peso = 56.84648 Uzbekistan Sum
1 Philippine Peso = 0.14255 Venezuelan Bolivar
1 Philippine Peso = 489.7075 Vietnam Dong
1 Philippine Peso = 2.44012 Vanuatu Vatu
1 Philippine Peso = 0.05627 Samoa Tala
1 Philippine Peso = 13.39433 CFA Franc (BEAC)
1 Philippine Peso = 0.06061 East Caribbean Dollar
1 Philippine Peso = 13.39433 CFA Franc (BCEAO)
1 Philippine Peso = 2.4367 Pacific Franc
1 Philippine Peso = 4.82636 Yemen Riyal
1 Philippine Peso = 0.27287 South African Rand
1 Philippine Peso = 116.49494 Zambian Kwacha
1 Philippine Peso = 8.124 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

Fruit juices: Unhealthy?

By Philip Chua | May 29,2015
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THE average annual consumption of fruit juices in the United States is about 30.3 liters per person. I suspect the ratio would be almost proportional to the amount of “fruit juices” we drink yearly in the 
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Poe and Ping

By AMADO P. MACASAET | May 29, 2015
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` Not too many people, least of all the politicians, see the character and background of Ping and Poe.’