March 27, 2015, 9:09 pm
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1 Philippine Peso = 0.08198 UAE Dirham
1 Philippine Peso = 2.85471 Albanian Lek
1 Philippine Peso = 0.03995 Neth Antilles Guilder
1 Philippine Peso = 0.19642 Argentine Peso
1 Philippine Peso = 0.02836 Australian Dollar
1 Philippine Peso = 0.03995 Aruba Florin
1 Philippine Peso = 0.04464 Barbados Dollar
1 Philippine Peso = 1.7407 Bangladesh Taka
1 Philippine Peso = 0.03959 Bulgarian Lev
1 Philippine Peso = 0.00842 Bahraini Dinar
1 Philippine Peso = 34.78115 Burundi Franc
1 Philippine Peso = 0.02232 Bermuda Dollar
1 Philippine Peso = 0.03044 Brunei Dollar
1 Philippine Peso = 0.15423 Bolivian Boliviano
1 Philippine Peso = 0.07146 Brazilian Real
1 Philippine Peso = 0.02232 Bahamian Dollar
1 Philippine Peso = 1.39851 Bhutan Ngultrum
1 Philippine Peso = 0.21827 Botswana Pula
1 Philippine Peso = 323.63904 Belarus Ruble
1 Philippine Peso = 0.04453 Belize Dollar
1 Philippine Peso = 0.02773 Canadian Dollar
1 Philippine Peso = 0.02122 Swiss Franc
1 Philippine Peso = 13.86191 Chilean Peso
1 Philippine Peso = 0.13864 Chinese Yuan
1 Philippine Peso = 56.73727 Colombian Peso
1 Philippine Peso = 11.88313 Costa Rica Colon
1 Philippine Peso = 0.02232 Cuban Peso
1 Philippine Peso = 2.24293 Cape Verde Escudo
1 Philippine Peso = 0.55542 Czech Koruna
1 Philippine Peso = 3.97194 Djibouti Franc
1 Philippine Peso = 0.15118 Danish Krone
1 Philippine Peso = 0.99759 Dominican Peso
1 Philippine Peso = 2.14405 Algerian Dinar
1 Philippine Peso = 0.31675 Estonian Kroon
1 Philippine Peso = 0.17037 Egyptian Pound
1 Philippine Peso = 0.45576 Ethiopian Birr
1 Philippine Peso = 0.02024 Euro
1 Philippine Peso = 0.04533 Fiji Dollar
1 Philippine Peso = 0.01444 Falkland Islands Pound
1 Philippine Peso = 0.01493 British Pound
1 Philippine Peso = 0.08515 Ghanaian Cedi
1 Philippine Peso = 0.96199 Gambian Dalasi
1 Philippine Peso = 164.05151 Guinea Franc
1 Philippine Peso = 0.17045 Guatemala Quetzal
1 Philippine Peso = 4.62491 Guyana Dollar
1 Philippine Peso = 0.17307 Hong Kong Dollar
1 Philippine Peso = 0.47653 Honduras Lempira
1 Philippine Peso = 0.15489 Croatian Kuna
1 Philippine Peso = 1.05494 Haiti Gourde
1 Philippine Peso = 6.06834 Hungarian Forint
1 Philippine Peso = 290.51626 Indonesian Rupiah
1 Philippine Peso = 0.08819 Israeli Shekel
1 Philippine Peso = 1.39913 Indian Rupee
1 Philippine Peso = 25.98152 Iraqi Dinar
1 Philippine Peso = 624.80191 Iran Rial
1 Philippine Peso = 3.00036 Iceland Krona
1 Philippine Peso = 2.56356 Jamaican Dollar
1 Philippine Peso = 0.01581 Jordanian Dinar
1 Philippine Peso = 2.64685 Japanese Yen
1 Philippine Peso = 2.05348 Kenyan Shilling
1 Philippine Peso = 1.41508 Kyrgyzstan Som
1 Philippine Peso = 89.46834 Cambodia Riel
1 Philippine Peso = 9.94808 Comoros Franc
1 Philippine Peso = 20.08794 North Korean Won
1 Philippine Peso = 24.669 Korean Won
1 Philippine Peso = 0.00668 Kuwaiti Dinar
1 Philippine Peso = 0.0183 Cayman Islands Dollar
1 Philippine Peso = 4.15184 Kazakhstan Tenge
1 Philippine Peso = 181.12738 Lao Kip
1 Philippine Peso = 33.55802 Lebanese Pound
1 Philippine Peso = 2.97815 Sri Lanka Rupee
1 Philippine Peso = 1.88961 Liberian Dollar
1 Philippine Peso = 0.26579 Lesotho Loti
1 Philippine Peso = 0.06549 Lithuanian Lita
1 Philippine Peso = 0.01421 Latvian Lat
1 Philippine Peso = 0.03057 Libyan Dinar
1 Philippine Peso = 0.21819 Moroccan Dirham
1 Philippine Peso = 0.41303 Moldovan Leu
1 Philippine Peso = 1.24523 Macedonian Denar
1 Philippine Peso = 23.1201 Myanmar Kyat
1 Philippine Peso = 44.30507 Mongolian Tugrik
1 Philippine Peso = 0.17826 Macau Pataca
1 Philippine Peso = 7.03078 Mauritania Ougulya
1 Philippine Peso = 0.81088 Mauritius Rupee
1 Philippine Peso = 0.34328 Maldives Rufiyaa
1 Philippine Peso = 9.86296 Malawi Kwacha
1 Philippine Peso = 0.33474 Mexican Peso
1 Philippine Peso = 0.08166 Malaysian Ringgit
1 Philippine Peso = 0.26579 Namibian Dollar
1 Philippine Peso = 4.44278 Nigerian Naira
1 Philippine Peso = 0.60046 Nicaragua Cordoba
1 Philippine Peso = 0.17335 Norwegian Krone
1 Philippine Peso = 2.23762 Nepalese Rupee
1 Philippine Peso = 0.02915 New Zealand Dollar
1 Philippine Peso = 0.00859 Omani Rial
1 Philippine Peso = 0.02232 Panama Balboa
1 Philippine Peso = 0.06858 Peruvian Nuevo Sol
1 Philippine Peso = 0.05962 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.27552 Pakistani Rupee
1 Philippine Peso = 0.08271 Polish Zloty
1 Philippine Peso = 107.08178 Paraguayan Guarani
1 Philippine Peso = 0.08127 Qatar Rial
1 Philippine Peso = 0.08946 Romanian New Leu
1 Philippine Peso = 1.26888 Russian Rouble
1 Philippine Peso = 15.41191 Rwanda Franc
1 Philippine Peso = 0.08373 Saudi Arabian Riyal
1 Philippine Peso = 0.17306 Solomon Islands Dollar
1 Philippine Peso = 0.303 Seychelles Rupee
1 Philippine Peso = 0.13292 Sudanese Pound
1 Philippine Peso = 0.18849 Swedish Krona
1 Philippine Peso = 0.03045 Singapore Dollar
1 Philippine Peso = 0.01499 St Helena Pound
1 Philippine Peso = 0.49564 Slovak Koruna
1 Philippine Peso = 97.20331 Sierra Leone Leone
1 Philippine Peso = 15.80475 Somali Shilling
1 Philippine Peso = 498.08049 Sao Tome Dobra
1 Philippine Peso = 0.19519 El Salvador Colon
1 Philippine Peso = 4.21688 Syrian Pound
1 Philippine Peso = 0.26579 Swaziland Lilageni
1 Philippine Peso = 0.72574 Thai Baht
1 Philippine Peso = 0.04314 Tunisian Dinar
1 Philippine Peso = 0.04432 Tonga Pa'ang
1 Philippine Peso = 0.05795 Turkish Lira
1 Philippine Peso = 0.1418 Trinidad Tobago Dollar
1 Philippine Peso = 0.69659 Taiwan Dollar
1 Philippine Peso = 40.99279 Tanzanian Shilling
1 Philippine Peso = 0.52563 Ukraine Hryvnia
1 Philippine Peso = 66.5134 Ugandan Shilling
1 Philippine Peso = 0.02232 United States Dollar
1 Philippine Peso = 0.56737 Uruguayan New Peso
1 Philippine Peso = 55.44606 Uzbekistan Sum
1 Philippine Peso = 0.14173 Venezuelan Bolivar
1 Philippine Peso = 480.21338 Vietnam Dong
1 Philippine Peso = 2.38232 Vanuatu Vatu
1 Philippine Peso = 0.05522 Samoa Tala
1 Philippine Peso = 13.26411 CFA Franc (BEAC)
1 Philippine Peso = 0.06026 East Caribbean Dollar
1 Philippine Peso = 13.26411 CFA Franc (BCEAO)
1 Philippine Peso = 2.41301 Pacific Franc
1 Philippine Peso = 4.80046 Yemen Riyal
1 Philippine Peso = 0.26546 South African Rand
1 Philippine Peso = 115.8293 Zambian Kwacha
1 Philippine Peso = 8.07758 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

We understand

By ELLEN TORDESILLAS | March 27,2015
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‘You (Aquino) thought that the people’s outrage over the bungling of the Mamasapano operation would die down after a few days.’

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By DUCKY PAREDES | March 27, 2015
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‘PNoy has done well for the country while, unlike other politicians, he has not done nearly as well well for himself.’