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Here's what the Oilman has for you today:

• Mao Ning Calls Out U.S.

• Block by Block: Indigenous People vs. Petroecuador

• Battling to Sell Beijing Barrels

• Tweet of the Day

Mao Ning Calls Out the U.S.

The world is a stage, and the players are many. But in this game of intrigue and deception, there is always one truth waiting to be uncovered. The latest reveal comes from veteran journalist Seymour Hersh, who has pointed the finger of blame at none other than the United States for the Nord Stream gas pipelines blasts in September 2022.

Blame Game: China Demands Explanation from the US

The Chinese Foreign Ministry has spoken, and they are not happy. In a routine press briefing, spokesperson Mao Ning expressed concern over Hersh's article, and demanded that the US provide a "responsible explanation" to the world. The Nord Stream gas pipelines are, after all, a major piece of transnational infrastructure, and the explosions have had a significant impact on the global energy market and the environment.

When asked about the silence from US mainstream media, Mao stated that this is not the first time that US media has chosen to ignore the truth. "They are deaf to the truth that really matters," she said, "and what they loudly hyped is often not the truth, but a false narrative."

Russia Joins the Chorus

Russia is also demanding answers from the White House. Foreign Ministry spokeswoman Maria Zakharova has urged the US to comment on Seymour Hersh's allegations. National Security Council spokesperson Adrienne Watson dismissed the investigation as "utterly false and complete fiction," while the CIA and Pentagon also denied the allegations.

But Hersh's reputation precedes him. He is an 85-year-old Pulitzer Prize winner, and his latest article accuses the US military of sabotaging the Nord Stream gas pipelines after a nine-month plot within the national security community. The US media may have pointed the finger at Russia soon after the explosions, but Hersh argues that the political elites in his country had more incentive to destroy the pipeline.

The truth may be elusive, but one thing is for sure – this mystery is far from solved. The Nord Stream saga continues...

Block by Block: Indigenous People vs. Petroecuador

In the heart of Ecuador's Amazonian jungle, a stand-off is brewing between the country's state oil company, Petroecuador, and the local Indigenous community. It's a classic tale of big business vs. the little guy, with both sides claiming their rights are being trampled upon.

Oil, Meet Activism

Recently, the Indigenous community took matters into their own hands and occupied two of Petroecuador's oil blocks, 16 and 67 in the Orellana province. The protesters shut down a valve on the pipeline, bringing production to a halt and causing the company to lose an estimated 3,500 barrels of crude oil per day. The Indigenous community claims they were not consulted about the new operation of the blocks and have made other social demands.

The Struggle for Sovereignty and Autonomy

This conflict raises the age-old question of who has control over natural resources in the region. The Indigenous community is fighting for their sovereignty and autonomy, claiming their rights and interests are being ignored. Meanwhile, Petroecuador argues that their production is essential for the country's economy and its continued growth.

The Ministry of Energy and Mining is stepping in to try to find a solution, but it remains to be seen who will come out on top in this battle of the blocks.

Will big business win out, or will the little guy come out on top and claim their piece of the pie? Only time will tell.

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Battling to Sell Beijing Barrels

As China reopens its doors post-Covid restrictions, its oil demand is once again on the rise. And as the world's largest crude oil importer, all eyes are on who will supply the bulk of this increasing demand.

Two heavyweights in the oil game, Saudi Arabia and Russia, are set to compete for China's business. Saudi Arabia has a guaranteed share of the market, selling its crude oil under long-term contracts. On the other hand, Russia is offering its oil at discounts and is pivoting to Asia for crude and fuel sales, hoping to attract more Chinese buyers.

The Game Plan

Saudi Arabia, optimistic about China's demand recovery, recently raised the official selling price (OSP) of its flagship crude going to Asia. Meanwhile, Russia is exporting more oil to China and state giants such as PetroChina and CNOOC have recently bought more Russian crude oil. Independent Chinese refiners are also big buyers of Russian fuel oil, considering the cheap product and lack of crude oil import quotas.

The Wildcard

The EU Ban Just as the game was heating up, the EU has thrown a wrench into the mix with its recent ban on Russian oil products. The ban could mean that the well-supplied oil balance at the start of 2023 could quickly tighten, impacting Russian exports.

The International Energy Agency (IEA) notes that China will drive nearly half of the world's demand growth, even as the shape and speed of its reopening remains uncertain. Meanwhile, Russia's exports to China are soaring and if China moves to fill its reserves, the intake of Russian oil could jump.

It remains to be seen which player will come out on top in the battle for China's crude oil demand.

Around the Digital Patch

⛴️ U.S. supply chains need help.🔬 Linde PLC is investing in two main ways to produce clean hydrogen 🔥 What in the world is happening in Ohio?👀 $100/bbl but not until year end says Goldman.

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