ExxonMobil, Chevron cancel ADIPEC executive trips amid Middle East security concerns

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ExxonMobil, Chevron cancel ADIPEC trips

Highlights

ExxonMobil and Chevron cancelled executive trips to next week's ADIPEC conference in Abu Dhabi due to heightened Middle East security concerns.
Recent fears of U.S. attacks on Iran and possible Iranian retaliation have increased regional risks, impacting oil markets and energy sector sentiment.
ADIPEC joins a trend of major energy events facing executive absences and disruptions, following similar incidents at WPC Energy Congress in Riyadh after Houthi attacks.

Conference plans shift as tensions rise

As first reported by Reuters, ExxonMobil and Chevron have cancelled plans for their executives to travel to the United Arab Emirates' biggest oil show next week, citing security concerns, according to two sources familiar with the matter.

Woods had been due to attend the conference in Abu Dhabi, known as ADIPEC, while Chevron had been set to send Clay Neff, its upstream president. ExxonMobil and Chevron declined to comment on the change in plans.

ADNOC, the UAE's state energy firm, referred questions to event organiser DMG, which did not immediately comment. The conference's online programme still lists other senior industry leaders, including BP Chief Executive Meg O'Neill and Equinor Chief Executive Anders Opedal.

Regional security risks disrupt energy events

Oil markets are being gripped by fears of fresh U.S. attacks on Iran and possible retaliatory action by Tehran. President Donald Trump has said he would not launch an attack on Iran before the U.S. midterm election on November 3, but on Friday he said the U.S. may carry out another military operation against Iran.

The U.S. State Department last week ordered some diplomats to leave Saudi Arabia, which has been facing near-daily attacks this month by Yemen's Iran-aligned Houthis. U.S. officials have also told Reuters that Washington plans to withdraw family members from a number of other U.S. missions in the region.

ADIPEC is the latest energy conference to face disruption from the conflict. Earlier this month, several top energy executives were removed from the schedule of the WPC Energy Congress in Riyadh, although that event still went ahead despite deadly attacks on the Saudi capital claimed by the Houthis.

In our earlier article on security disruptions in Saudi Arabia, we explained how Houthi missile attacks and the closure of Riyadh’s main airport triggered postponements and cancellations across diplomatic, sporting, and business events. We also noted that the uncertainty was already affecting the energy sector, with senior executives pulling out of a major Riyadh conference and organizers considering contingency formats for upcoming flagship gatherings.

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