UN says record numbers of people could face acute hunger if conflict continues The world has become well versed in the importance of the strait of Hormuz to the world’s energy flows , but attention is increasingly turning to its vital role in another market – the fertiliser on which harvests depend. A third of the global trade in raw materials for fertiliser passes through the maritime choke point...
UN says record numbers of people could face acute hunger if conflict continues The world has become well versed in the importance of the strait of Hormuz to the world’s energy flows , but attention is increasingly turning to its vital role in another market – the fertiliser on which harvests depend. A third of the global trade in raw materials for fertiliser passes through the maritime choke point, which is also the route for 20% of shipments of natural gas, which is required to make it. Continue reading...
Iraq Revives Syria Land Route, Post-Assad, To Export Oil To Europe Via Middle East Eye Iraq has restarted overland oil exports through Syria, marking a significant shift in regional energy logistics as the US-Israeli war on Iran continues to wreak havoc on traditional shipping routes through the Strait of Hormuz. Ali Nazar, director general of Iraq’s state oil marketer Somo, said on Wednesday that...
Iraq Revives Syria Land Route, Post-Assad, To Export Oil To Europe Via Middle East Eye Iraq has restarted overland oil exports through Syria, marking a significant shift in regional energy logistics as the US-Israeli war on Iran continues to wreak havoc on traditional shipping routes through the Strait of Hormuz. Ali Nazar, director general of Iraq’s state oil marketer Somo, said on Wednesday that the company had agreed to export 50,000 barrels per day of Basra medium crude via Syria to the Mediterranea n, with plans to increase volumes. The crude will reach European markets through the Syrian port of Baniyas . AFP/Getty Images Syria's state news agency SANA reported that fuel convoys had begun entering the country through al-Tanf crossing, signalling what it described as a renewed role for Syria as a transit hub. The Syrian Petroleum Company said it would store the shipments before transferring them to Baniyas for export. Safwan Sheikh Ahmad, the company’s communications director, said the first convoy includes 299 tankers and called the move a "step toward restoring Syria’s role as a key energy corridor in the region" . The operation is expected to generate revenue for Damascus and revive transit infrastructure damaged during years of civil [proxy] war. Syrian officials said the process demonstrates the country’s readiness to handle large-scale energy flows in line with international standards. According to Reuters, Somo has also agreed to supply about 650,000 metric tonnes of fuel oil per month between April and June, with shipments transported overland through Syria. Iraq has not relied on this route for decades. However, sources told Reuters that the aftermath of Syria’s war and the disruption caused by the Israeli-US war on Iran have made it a viable, albeit more expensive, alternative . Muayyad al-Dulaimi, spokesperson for Anbar province in Iraq, told Al-Araby Al-Jadeed that the renewed use of the al-Walid crossing reflects an “exceptional step” driven by reg...
More Hongkongers have chosen to head north to mainland China during the Easter holiday amid the ongoing conflict in the Middle East that has disrupted air traffic, an industry leader has said. Hong Kong Tourism Association executive director Timothy Chui Ting-pong said the number of outbound tour groups to the mainland during Easter rose 30 per cent year on year. He noted particularly strong growt...
More Hongkongers have chosen to head north to mainland China during the Easter holiday amid the ongoing conflict in the Middle East that has disrupted air traffic, an industry leader has said. Hong Kong Tourism Association executive director Timothy Chui Ting-pong said the number of outbound tour groups to the mainland during Easter rose 30 per cent year on year. He noted particularly strong growth in long-haul tours, such as those to the provinces of Guizhou, Hunan and Hubei. “The local economy...
The stock market rose strongly for the week, even with oil prices soaring. Investors should look for this signal. Tesla tumbled Thursday on weak deliveries.
The stock market rose strongly for the week, even with oil prices soaring. Investors should look for this signal. Tesla tumbled Thursday on weak deliveries.