Member Info for buffa

....through 290 atm.

...has been unremitting this morning with no floor, so far, in sight. Price dropping through 375.

Just managed to access it. POLY to me is all about risk/reward. Risks are pretty obvious but if POLY has a future on LSE then in the medium term, once everything has settled down (unknown quantity), POLY will still be mining Gold and at current price levels is a give-away. However I remain on sidelines awaiting further moves by West to apply harder sanctions to Russian oriented stocks.

Unable to access POLY's Home page - is it just me?

Last 12 months Rosneft contributed roughly 20% to BP's underlying profit. I believe that BP will now know that they have the choice of being the 'good guy' and walking away from their involvement with Rosneft or else the UK government will slap a tax of some description - call it windfall or anything else - equivalent to the value of the stake on BP. In addition BP will now be in the 'bad guy' list and thereby barred from any chances of benefitting from opening the North Sea further. Either way now rating BP fair price at ca £3.20 at current oil price.

BP told to offload Rosneft stake

BP is under renewed pressure to abandon its 20pc stake in the oil giant Rosneft after Boris Johnson said Britain must reduce its reliance on Russian hydrocarbons.

The gas giant is run by Vladimir Putin's close friend and ally Igor Sechin. BP's chief executive Bernard Looney sits on Rosneft's board alongside Mr Sechin.

Helen Cahill has the story.

Telegraph this morning reporting increasing pressure on BP to divest itself of Rosneft stake - probably no more than we would have expected.

Mark, stockmarkets nowadays have goldfish memories and attention spans. Most UK stocks up this morning and some pure Russian stocks down 50% yesterday up 50% this morning. BP marking time around 370 - again waiting for big brother Wall street to tell us what to do.

Pound down 2% against the dollar. Oil is priced in dollars therefore UK pump prices and oil related prices will rise. On the other hand Oil companies that are sterling listed such as BP will earn more sterling for every barrel.

US now hammering POLY - down to 550 as I write.

Meoryou, my take is that oil producers in general, exposed to Russia or not, will all succeed to varying degrees because the World cannot exist without energy and oil/gas are main energy drivers at the moment and will be for years to come. BP will recover and follow oil pricing I'm sure. When? is the question, but then BP is generally considered a long-term hold.

My head has been spinning this morning as we try to make sense of some of the more unusual market movements. For example Bitcoin down 6% (safe haven?), Pets at Home - cats and dogs down 4% (exposure to Russia?!!!), Royal Mail down 5%. BP atm down 4%. What next? One seriously held view goes like this....Putin does not want to actually occupy Ukraine. OK so what's he doing? Story continues that he wants regime change (taken from the Tony Blair song book) whereby he disposes of prominent Ukrainians who are unsympathetic, high profile and vocal against Russia. Puppet government installed in Kyiv controlled from Moscow. Skeleton Russian military presence as 'peacekeepers' while new, indoctrinated Ukrainian army trained up. Net result in a few months time? 'Independent' Russian-friendly Ukraine, 'nothing to see here'. Prognosis - wait and bear short term pain before markets re-establish. Economy - all the Western produced inflation over the past two years will now be blamed on Putin rather than Boris, Biden etc. Boris will allow BP etc to reopen moth-balled gas and oil fields in the North Sea because of Putin etc (notwithstanding that I was being briefed some weeks ago that Boris was realising that dependence on renewables atm was not practical to keep the lights on). This is a precis of 'my take' atm for what it's worth. Time will tell.

..Just said we must stop our reliance on oil and gas...will attempt to stockpile vodka today since I think my car can just about move with that as a fuel.

No one will price BP but overall Wall Street down about 2.5%

Jakers, thanks for that since I was about ready to query why BP has not issued a statement on their take of their situation - let's face it BP should have been briefed for some days by Rosneft - particularly with their direct line to Putin. So far this morning I have received updates from a number of Russian-involved companies which basically say 'don't panic everything under control and working normally'. Meanwhile NATO will have a virtual conference TOMORROW!! No panic there then.

Larry, I hope you are right. My reservations include my view that Putin is a smarter operator than sleepy Joe and partygate Boris etc. Also Russia recently signed a deal to supply China with 100 million tonnes (not barrels) of oil and even India with, I believe, 2 million tonnes pa. Meanwhile Russia has plenty of energy, raw materials and food production to sustain normal life in Russia. Unfortunately we have an energy deficit, no raw materials of any consequence and little domestic food production. Stark I know but welcome to reality.

Gary, Shell does, in fact, have substantial investments in Russia apart from their involvement in the Nordstream 2 pipeline. Sakhalin project comes to mind where Gazprom at 50% and Shell roughly 25% but as a company they are well bedded into Russian oil/gas projects.

Forgot to mention earlier that all Cryptos well down whilst Gold moving ever higher. Does that answer vthe question whether Cryptos or Gold is the 'safe haven' investment. BP 367 as I write.

As I write, European Markets down ca 2xFTSE; Oil, Gas, Gold and other PMs all up; All Base metals up; All Soft Commodities up except Orange Juice and Cocoa...As Gold is still climbing and the US hasn't entered yet we expect more fireworks later.

Impossible to know how the Ukrainian population feel right now but I certainly feel ashamed that the drive by Western countries towards the so-called 'green revolution' has played straight into the hands of those who don't give a fig for such idealistic, drastic, sudden changes. Since 2014 the Russians, Chinese and even India have been building their economies by supplying essential commodities and food staples that the clever West has increasingly ceased to produce. Make no mistake the Russo-Chinese axis doesn't need us whereas we definitely need their gas/oil/wheat... the list goes on. SWIFT, don't make me laugh. The Russians and Chinese have their own alternative to SWIFT and it's backed by Gold - which they've also been assiduously accumulating year by year. I have no problem with the urge to 'green' the planet but not 'immediately' as the incompetent western leaders are attempting. Now we are in a precarious position where unscrupulous dictators hold us at their mercy. Forget nuclear threats. Their possible, probable, sanctions will hurt each and every one of us whereas our sanctions, apart from all out nuclear war, will worry the enemy (for that's what they are) not one jot. So the Ukrainians are to suffer because our leaders instruct us to go green. Will Russia stop at Ukraine? Will China not now invade Taiwan? Will Boris, Biden, Macron be in the front line with our forces against the enemy? Perhaps the penny will now drop among Western powers that yes we do need energy products that 'pollute' and we do need to become more self-sufficient producing the staples of life. If we don't wise up then don't worry about climate change since we will all be extinct before that can seriously affect the planet.