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Iraqi News
a day ago
- Business
- Iraqi News
Iraq may shift to pipelines to tackle possible closure of Strait of Hormuz
Baghdad ( – Regional tensions and Iranian threats to close the vital Strait of Hormuz may compel Iraq to reactivate outdated pipelines that previously carried a significant portion of its oil exports through Saudi Arabia and Syria. A $9 billion pipeline via Jordan that is now on hold might possibly be revived, according to Arabian Gulf Business Insight (AGBI). Iraq transports most of its crude oil exports via oil tankers through the Strait of Hormuz; however, Iran's ongoing threats to close the strait have caused concern in Baghdad. Nabil Al-Marsoumi, an energy and economics professor at Basra University, told AGBI that Iraq has alternative possibilities, such as pipelines, but political factors have always outweighed economic ones. Given the latest developments in the region, Iraq might seriously think about revitalizing these pipelines, according to Al-Marsoumi. If the Strait of Hormuz is closed, experts believe that Iraq will be unable to export more than 17 percent of its oil. In contrast, Saudi Arabia and the UAE will still be able to export approximately 85 percent and 68 percent of their petroleum, respectively, thanks to the pipelines they have constructed for this purpose.
Yahoo
02-04-2025
- Business
- Yahoo
Officials sound alarm as treasured export becomes more difficult to grow: 'More areas have to be planted'
Turkey consistently ranks atop the list of nations with the most tea drinkers. However, the country's production of tea is in jeopardy as extreme weather resulting from climate change threatens Turkish harvests. In addition to being the top tea drinkers in the world, the Turks have also been one of the biggest tea producers, standing at "fifth behind China, India, Kenya and Sri Lanka," according to Arabian Gulf Business Insight. Unfortunately, rising temperatures are impacting the country's yield of unique, strong-tasting leaves, which typically amount to 270,000 metric tons of tea each year, AGBI reported. Drier, hotter conditions — consequences of heat-trapping gases building up in the atmosphere — are inhospitable to Turkish tea crops planted along the Black Sea region. "Climate change is harming tea production due to rising temperatures; tea loves rain and humidity," Mustafa Yılmaz Kar, secretary general of the Turkish Tea Industrialists and Businessmen's Association, told AGBI. Kar continued, "To offset losses in production more areas have to be planted." But farmers also have to compete with increasing urbanization for the use of suitable land, per AGBI. And previous reports, such as from Yale Environment 360, have described Turkey as facing a water crisis that could compound growing challenges too. As Turkey's tea crops face an uncertain future due to the climate crisis, the country's producers and consumers could feel the strain of higher prices and limited supplies. In addition to impacts on the local economy, the consequences could be felt globally too. Consumers worldwide have already seen increased costs for food items like chocolate, coffee, and olive oil. In Japan, climate-related hits to quality rice harvests have caused the country to rely more on food imports, which typically come with higher price tags. Do you worry about how much food you throw away? Definitely Sometimes Not really Never Click your choice to see results and speak your mind. According to AGBI, some Turkish producers have started to experiment with herbal and flavored tea products to appeal to a wider range of tastes. But these varieties could still be vulnerable to increasing temperatures and lack of water. To improve climate resilience, some efforts have been underway to support sustainability in the industry. A partnership between the Rainforest Alliance and JDE Peet's — a Netherlands-based coffee and tea company — was designed to train thousands of smallholder farmers in Turkey in sustainable practices. Separately, there have been efforts to test drought-resistant tea types, which could address crop loss and price hikes. There are also simple habits that individuals can practice to save money and food. Consumers can always ensure that they eat everything in their cupboards before venturing out to buy more groceries. Planning grocery trips in advance and reducing food waste as much as possible can also help to prevent waste and reduce costs in the long run. Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
