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From the Iraq Britain Business Council (IBBC):

Iraq's ministers attend IBBC's largest Baghdad conference 2025

The IBBC held its Bagdad conference dedicated to 'Delivering Innovation' at the behest of the Prime Minister Mr Al Sudani. It has been 6 years since IBBC members last held a conference of this magnitude in Iraq with key Government ministers and Iraq's leading businesses sharing panels and discussions on how the country is evolving and modernising. Dr Abdulkareem Faisal chair of the PMs Advisory Commission worked closely with IBBC to organise the conference.

Over 340 leading businesses and government officials attended the conference and reception the previous evening, with companies from Iraq, UK and International corporations to focus on how they are delivering innovation in Iraq. Mr Jon Wilks CMG former ambassador to Iraq and IBBC advisory council member chaired the conference proceedings.

Baroness Nicholson, president of IBBC welcomed delegates and spoke of her immense pride as founder 16 years ago, to see such a vibrant and established organisation flourishing in Iraq. Keynote speeches were given by:

 H.E. Mr Hayan Abdulghani Al-Sawad, Deputy Prime Minister for Energy Affairs and Minister of Oil, who outlined the big focus on additional exploration opportunities for oil and gas production, and the new fields opening in Kirkuk. He also focused on reduction of emissions from flaring, and significant additional gas capture to convert into electricity, while supporting solar powered sea water distillation and oil field production support.

H.E. Hyam Abood, Minister of Communications pointed out the steps the government are taking to digitise government across all ministries, to modernise the banks and to provide more e government services to people using AI, as well as taking steps to protect digital information from both piracy and AI. The ministry is also setting up an AI academy and made calls for support from companies, NGOs and businesses to help train and develop these capabilities for the young people.

H.E Mohammed Bahr Al Ulum, Deputy Foreign minister for bilateral affairs, praised Baroness Nicholson's dedication to Iraq  through her serious business efforts in establishing the IBBC, and also founded the AMAR Foundation, providing humanitarian help to Iraqis, which has paved stronger relationships between U.K. and Iraq . He said Iraq is ambitious to expand and diversify its economy with the U.K. in new sectors beyond oil fields in Iraq.

His Majesty's Ambassador to Iraq Stephen Charles Hitchen, in his final conference, paid tribute to Baroness Nicholson  commitment to Iraq for 35 years and outlined the significant new additional trade between the Uk and Iraq (£12bn) and a re-evaluation of the opportunities that Iraq offers for trade and investment in the future.  UK must now think about Iraq differently, from conflict to opportunity.

Mr Zaid Elysari Iraq country manager of BP spoke of a constant quest and application of digital efficiency in oil operations, with the first autonomous fields being applied, as well as driving further efficiencies in extracting and revitalising older fields like Rumaila, whilst also driving down carbon emissions towards net zero goals.

Mr Ishmael Shaker, Managing Director of Al Busttan said they support 85 companies operating in Rumaila and is grateful to contribute to innovation in Iraq. It is a great step to refocus the conference in Baghdad and keen to support youth opportunities and ensure Iraq becomes a regional driver of prosperity.

Delegates heard from leading panels including:

Professor Frank Gunter on Ease of doing business in Iraq and the steps required to enable modernisation and an efficient private sector economy (report here)

Delivering innovation in Education & Media; with Iraq's tv streaming company, 1001, and SABIS®  education, both using digital distribution and leverage developers' skills in Iraq and from outside the country, to create bespoke media content or teaching for Iraqis. Mr Yousif Al Alousi of 1001 said content IP must be protected for both Tech and Creative industries as they evolve in Iraq. Mr Raed Mahmood of Sabis®  emphasised the partnership opportunities between the government and private sector education to modernise learning in Iraq, as is already piloted in Kurdistan.

Delivering innovation in Finance with H.E Mr Najjar Investment advisor to the PM outlined the Iraqi investment fund, bespoke for Iraq and focused on repatriating income, focused on homeowners and 12 key economic sectors to revitalise SMEs and leverage private sector capital and to be run by smart young Iraqis in each sector. Standard Chartered Bank and Hogan Lovells International discussed three key reforms the government and sector need to make to tap into international investment and business. Mr Ardil Salem of Hogan said Government can embrace global standards. E.g. anti money laundering measures, Cyber security and data protection, improve Transparency rules and reporting to promote trust and IP measures to protect innovation. Iraq is already making regulatory innovation but there's room to grow as Dubai and Abu Dhabi have shown.

Mr Jamil Choucair of SC said only 23% of Iraqis have access to bank accounts but there's an opportunity to move to mobile banking SC say opportunity to move to fully digital banking to provide full access to all and make banks more profitable.

Delivering innovation in Energy with Dr Husain Al-Chalabi, Energy Advisor to the Prime Minister and Iraq's leading energy providers Basra Gas Company and SAP focused on how technology can reduce carbon emissions through technology and keep Iraq within the Paris accord and work with other countries to enable this, and very much through gas capture, ending flaring, and use of software to monitor and manage efficiency.

Delivering Innovation in the Maritime sector outlined the creation of the new Maritime authority and initiatives to develop this new sector with Mr Ahmed Shaban, Al Zaman Group; Mr Sadie Jasim, Dir gen of military research at DIC; Mr Rob Stewart, Aluminium Marine Consultants Ltd. Heard how the Al Faw Ports project will open the development Road, create Free Ports and enterprise opportunities. Mr Stewart mentioned how high-tech autonomous boats will be created and in service in Iraq by 2025 and Mr Shaban discussed the partnership with Government to develop the maritime agency an academy in Basra and shipbuilding manufacture.

Alongside the conference IBBC Women's group discussed New Horizons & Innovation' focused on training and educational empowerment led by Ms Ghadeer Haider of IBBC Women at the American University of Baghdad. The discussion focused on development of women's skills and capabilities in their careers, enabling them to thrive and achieve greater professional success. Participants emphasized the importance of government-backed programs, policy reforms, and private sector initiatives in fostering a more inclusive innovation landscape.

Mr Christophe Michels, MD of IBBC concluded the conference with his memories of the first Baghdad conference in 2009 with 30 members, and now delighted to see 340 delegates and ministers and to see diversification of IBBC into Education and the modern economy, with more Iraqi members and offices in Baghdad, Erbil and Basra, and continue to enable the knowledge transfer between the UK and Iraq.

Sponsors included:

Please see some of the media interest and reporting of the conference:

By John Lee.

Iraq's Council of Ministers has approved the conversion of the Qayyarah [Qayara] Gas Power Plant from simple-cycle to combined-cycle operation.

According to a statement from the Prime Minister's Office, the State Company for Northern Electricity Production has been authorised to award the contract to 'ARGAN INT', following the completion of procedural requirements.

The contract stipulates that all components used must originate from the United States, Europe, Japan, or Canada, ensuring compliance with international quality standards.

(Source: PMO)

By John Lee.

The Iraqi Council of Ministers has authorised the Ministry of Electricity to award and sign an EPC contract for the Dora [Doura] Thermal Power Plant project in Baghdad, valued at $480 million (excluding supervision and monitoring costs).

As part of the agreement, the contractor will waive its claim to a sovereign payment guarantee of $808.345 million, previously issued by the Ministry of Finance.

The contract is exempt from standard government procurement rules under the Federal Budget Execution Law and Government Contract Execution Instructions (No. 2 of 2014).

A statement from the Prime Minister's Office did not mention the company involved, but in December Iraq's Minister of Electricity chaired a technical meeting with with a delegation from a company named as "Ethios Energy" to expedite the rehabilitation of the plant.

(Source: PMO)

By John Lee.

Standard Chartered has successfully arranged a $95-million term loan for the Iraqi Ministry of Finance, supporting the supply of five electrical substations across northern and southern Iraq.

The financing, backed by a 100% UK Export Finance (UKEF) guarantee, covers both political and commercial risks. The Ministry of Electricity will use the funds to procure equipment from the United Kingdom, strengthening Iraq's power infrastructure. The company supplying the equipment was not disclosed.

Jamil Choucair, Chief Executive Officer, Standard Chartered, Iraq, said:

"We are delighted to support this landmark transaction, which reflects our commitment to enabling infrastructure development that drives sustainable economic growth. By working closely with the Ministry of Finance and UKEF, we are delivering tailored solutions that address Iraq's energy needs and contribute to its long-term progress."

Faruq Muhammad, Global Head of Development and Agency Finance, Standard Chartered, added:

"This financing represents our unwavering commitment to the Republic of Iraq and our dedication to enhancing the lives of its communities. With the support of our ECA partners, including UKEF, we are not only driving forward the development of key infrastructure but also fostering long-term prosperity for the country."

(Source: Standard Chartered)

By John Lee.

The International Energy Agency (IEA) has published its National Climate Resilience Assessment for Iraq:

Key Climate Trends

• Iraq's warming rate (0.48°C per decade) exceeds the global average (0.37°C).
• Projected temperature rise: 2.5°C (low-emissions) to 5.6°C (high-emissions) by 2100.
• More extreme weather: Increased droughts in the north, heavier rainfall in the south.
• Growing risk of floods due to intense rainfall after prolonged droughts.

Impact on Energy Sector

• Transmission losses among highest in the world (50-60%), straining electricity supply.
• Rising demand for air conditioning worsens grid instability during heatwaves.
• Water scarcity threatens gas-fired plants and oil & gas operations.
• Sandstorms may cut solar PV output by over 60%, risking Iraq's 12 GW solar target.

Necessary Interventions

• Strengthening infrastructure: Upgrading power plants and refining operations.
• Developing microgrids for energy security during disruptions.
• Diversifying energy sources and integrating climate resilience into policy.
• Enhancing disaster risk management to protect critical infrastructure.

Click here to read the full report.

(Source: IEA)

By John Lee.

Gas production at Khor Mor's KM250 expansion is expected to start in Q2 2026.

In its results for FY 2024, Dana Gas said:

"In September 2024, Pearl Petroleum took over full responsibility for the KM250 expansion project following the termination of the original EPC contractor. Construction resumed fully in December and the project is now scheduled to achieve first gas by Q2 2026. Once operational, KM250 will add processing capacity for an additional 250 MMscf/d of gas, significantly boosting
Company's cashflows and financial performance.

"Khor Mor facilities currently supply more than 500 mmscf/d of gas to four power stations and enables the generation of approximately 2,800 MW of electricity which constitutes more than 75% of the KRI's power generation. This supply of steady and affordable gas, results in significant fuel cost savings and affordable electricity for millions of Iraqis in the KRI and neighboring governorates, benefiting the whole of Iraq. Once completed, additional gas supplied by the KM250 project to the region's power stations will play a vital role towards further supporting the economic development across the KRI and Iraq."

(Source: Dana Gas)

By John Lee.

The Iraqi Ministry of Electricity has signed three contracts with Linxon to rehabilitate key 400 kV BSP stations in Baghdad and Diyala as part of the Iraqi Electrical Super Grid.

The agreements, funded by SEK and EKN loans, were signed by Riyad Uraibi Muklf, General Director of the General Company for Electrical Energy Transmission in the Middle Region, and Hassan Merhi, Linxon's Managing Director for the Middle East and Asia Pacific.

The project, initiated under the directives of Minister of Electricity Zeyad Ali Fadhil, includes upgrades at North Baghdad, South Baghdad, and Diyala 400 kV BSP stations.

Rehabilitation efforts will modernise electrical equipment, enhance protection and control systems, and improve infrastructure to ensure reliable operation of Iraq's power transmission network.

Linxon is a joint venture between AtkinsRéalis (formerly SNC Lavalin) and Hitachi Energy.

(Source: Linxon)

By John Lee.

Iraq's Ministry of Electricity and GE Vernova have completed upgrades at multiple power plants, enhancing Iraq's electricity infrastructure.

The project covers 46 gas turbines across 12 sites, expected to add up to 500 MW to the national grid by summer 2025.

Several plants, including Ninawa, Al-Diwaniyah, Hilla, and Karbala, have transitioned from heavy fuel oil to natural gas, increasing capacity by 260 MW.

Additional modernisations will add a further 250 MW. Advanced Gas Path (AGP) and MXLII upgrades at Al-Quds, Dhiqar, and Al Mansouriya plants will improve efficiency by up to 6%.

Under a 2024 services agreement, GE Vernova has also completed maintenance projects covering 3.7 GW at sites such as Qayyarah and Baghdad South to improve long-term reliability.

(Source: GE Vernova)

From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Trump Cancels US Exemption for Iraq to Import Electricity and Gas from Iran

US President Donald Trump on Wednesday revoked Iraq's exemption to import electricity and gas from Iran, reinforcing Washington's campaign of maximum pressure on Tehran.

This decision comes as part of a new package of sanctions targeting Iran's energy sector and its broader economic ties.

Click here to read the full article.

By John Lee.

The Iraqi Council of Ministers has approved the Waste-to-Energy Power Generation Project in Nahrawan, Baghdad, awarding it to the Chinese company Shanghai SUS Environment.

The project will have a two-year construction period and a 25-year investment term. The National Investment Commission (NIC) will issue the investment licence and finalise the contract.

The Baghdad Municipality will provide 3,000 tons of municipal solid waste per day and complete land allocation within six months. The energy purchase fee will be determined based on committee recommendations, covering landfill, environmental, and public health costs. Payments will be managed by the Ministries of Health, Electricity, and Environment, along with the Baghdad Municipality.

The Ministry of Electricity is required to purchase the project's energy output, with an initial cap of 100 MW. Further negotiations will be required if production exceeds this limit. The Ministry of Finance will provide necessary funding, and the Ministry of Electricity is authorised to sign the power purchase agreement.

(Source: Media Office of the Prime Minister)