Shares in London regained some poise in morning trading after sharp falls yesterday. Click here for The Trader Nicole Elliott's latest thoughts on the markets.
KEY STORIES:
Gulf Keystone Petroleum (GKP), alongside partner MOL and the Kurdistan Regional Government, has agreed to increase a collective investment in Shaikan, which will lift production to 55,000 barrels of oil a day (bopd) over the next 18 months. Getting there will require $73m of capital expenditure (net to GKP), and a further $175-$215m gross, all before plans to upgrade to as much as a long-promised 110,000bopd. Operationally, production has been progressing well, with plant uptime in the first five months of 2018 at more than 99 per cent. Shares are trading 11 per cent to the good this morning.