Exxon, Chevron Executives Cancel Gulf Visit Over Security Concerns

ExxonMobil CEO Darren Woods and Chevron upstream president Clay Neff have canceled plans to attend next week's ADIPEC conference in Abu Dhabi over security concerns, according to sources cited by Reuters on Thursday.Both executives were expected at the November 2-5 event, one of the oil industry's largest annual gatherings, and Woods is still showing up on the roster. Neither company would comment on the cancellations, which come as Washington considers another round of military action against Iran.President Donald Trump has said the United States would not attack Iran before the November 3 midterm elections, although he subsequently raised the possibility of another military operation. ADIPEC runs through November 5, putting much of the conference on the calendar immediately after the election.The UAE has avoided Iranian attacks since May. Neighboring Saudi Arabia hasn't been nearly as fortunate. Houthi strikes this month have targeted Riyadh's international airport and Saudi Aramco headquarters, while the U.S. State Department last week ordered some American diplomats to leave the kingdom.Saudi Arabia has already postponed its annual Future Investment Initiative until 2027 after attacks disrupted air travel. The WPC Energy Congress went ahead in Riyadh earlier this month, although several major oil executives disappeared from the speaker lineup. Airport closures forced some delegates to drive to neighboring countries just to catch flights home.ADIPEC organizers are still expecting record participation. Nearly 240,000 people attended last year's event, hosted by UAE state oil company ADNOC, and this year's exhibition is expected to attract participants from more than 170 countries.BP CEO Meg O'Neill and Equinor CEO Anders Opedal remained on the conference's online schedule as of Thursday. Caturus chairman Ben Dell also withdrew from a scheduled panel, according to the Financial Times.Organizers say more than 120 U.S. companies will exhibit, giving the United States the second-largest national representation behind China. Exxon and Chevron’s senior executives, however, will be sitting this one out.By Julianne Geiger for Oilprice.comMore Top Reads From Oilprice.comInvestors From 119 Countries Pile Into Dangote’s Record Refinery IPOU.S. Lawmakers Warn Banks Against Trump's Russian Diesel DealEquinor Doubles Estimate for Major North Sea Gas Discovery