ADIPEC, the oil industry’s biggest annual gathering in the Gulf, will go ahead next week without two of America’s top oil executives. ExxonMobil and Chevron have cancelled plans for their executives to travel to the Abu Dhabi event, citing security concerns, two sources told Reuters on Thursday 29 October 2026.
ExxonMobil chief executive Darren Woods had been due to attend, the sources said. Chevron had planned to send its upstream president, Clay Neff. Both companies declined to comment.
Why ADIPEC trips were cancelled
The decisions come as fears grow of fresh US strikes on Iran and retaliation by Tehran. President Donald Trump has said the US would not attack Iran before the midterm elections on 3 November 2026. However, he has since raised the possibility of another military operation. ADIPEC runs from 2 to 5 November 2026, so most of the conference falls straight after the vote, OilPrice.com noted.
The UAE has not faced Iranian attacks since May 2026, according to Reuters. Even so, neighbouring Saudi Arabia faces near-daily attacks by Yemen’s Iran-aligned Houthis this month. Last week, the US State Department ordered some diplomats to leave the kingdom. US officials also told Reuters they plan to withdraw family members from several other US missions in the region.
Organisers expect record ADIPEC turnout
ADNOC, the UAE’s state energy company, which hosts the show, deferred comment to organiser DMG. “US participation is very strong, with more than 120 exhibiting companies – the second-largest country representation after China,” DMG said. It added that the event expects record exhibition participation, with visitors from more than 170 countries. Nearly 240,000 people attended in 2025, according to OilPrice.com.
Still, a list of confirmed US industry speakers from DMG did not include ExxonMobil or Chevron. By contrast, BP chief executive Meg O’Neill and Equinor chief executive Anders Opedal remained on the online programme. Separately, Caturus chairman Ben Dell withdrew from a panel, the Financial Times reported, according to OilPrice.com.
Not the first conference hit by the war
ADIPEC is the latest industry event that the conflict has disrupted. Earlier in October 2026, several top energy executives dropped off the schedule of the WPC Energy Congress in Riyadh. That conference went ahead despite deadly attacks on the Saudi capital claimed by the Houthis. Moreover, Saudi Arabia has postponed its annual Future Investment Initiative to 2027 after attacks disrupted air travel, OilPrice.com said. Airport closures during the WPC event forced some delegates to drive to neighbouring countries to catch flights.
Why it matters
ADIPEC is a key venue for deals between international oil companies and Gulf national oil companies such as ADNOC. Therefore, the absence of the two largest US oil companies’ leaders is a visible sign of how security risk is now shaping business in the Gulf. It also adds to the risk premium in oil markets. On Thursday, Brent crude settled at $114.88 a barrel, as traders weighed peace efforts against the threat of new strikes. Earlier this week, a Houthi refinery claim pushed Brent crude near $115.
What to watch
First, watch whether other US or European executives pull out before 2 November 2026. Second, watch any US decision on Iran after the midterm vote. Finally, ExxonMobil and Chevron report third-quarter 2026 results on Friday 30 October 2026.
