According to an industry insider, Saudi Aramco CEO Amin Nasser has canceled his scheduled appearance at the CERAWeek energy conference in Houston to remain in Saudi Arabia due to the Iran conflict. Nasser, who has served as CEO of the world's largest oil exporter for over a decade, is typically one of the keynote speakers at this premier energy industry gathering. The CERAWeek conference, organized by S&P Global, begins on Monday and will attract top executives, government officials, and policymakers from around the world to discuss global energy market prospects. Nasser's withdrawal highlights the significant challenges he faces in managing the Iran crisis. An S&P Global spokesperson did not immediately comment, stating that any agenda updates would be posted on the conference's online schedule. The conflict, now in its fourth week, has resulted in over 2,000 deaths, disrupted global markets, and triggered retaliatory strikes from Iran that have effectively closed the Strait of Hormuz and targeted energy infrastructure across the Gulf region, including Saudi Aramco facilities. Both U.S. President Donald Trump and Iran have threatened to escalate the war by targeting energy and fuel facilities in the Gulf. On Saturday, Trump threatened to bomb Iran's power plants if Tehran does not fully reopen the Strait of Hormuz, which typically handles one-fifth of global oil supplies. Another source indicated that Kuwait National Petroleum Company CEO Sheikh Nawaf Al-Sabah will also miss the Houston conference, participating instead virtually from Kuwait in a Tuesday session.

Energy Facilities Under Attack Saudi Aramco is facing its most severe crisis since the COVID-19 pandemic and the 2019 attacks on Abqaiq and Khurais facilities that temporarily halved Saudi Arabia's crude production. During a March 10 earnings call, Nasser told reporters that prolonged disruption of the Strait of Hormuz due to the Iran war would have "catastrophic consequences" for global oil markets. To bypass the Strait of Hormuz, Saudi Aramco is piping millions of barrels of crude daily from its east coast to the west coast. Reports indicate the company has cut approximately 2 million barrels per day of oil production from two fields. This alternative route requires tankers to load at the Red Sea port of Yanbu. Last week, loading operations at the port were temporarily suspended due to ballistic missile interceptions and drone attacks near a refinery, causing oil prices to surge. On March 19, Iran launched attacks on energy facilities across the Gulf, including in Kuwait, in retaliation for Israeli strikes on its South Pars gas field. A drone strike hit the Samref refinery, a joint venture between Saudi Aramco and ExxonMobil. This wave of attacks also struck Qatar's Ras Laffan liquefied natural gas complex. Qatar Energy's CEO told Reuters that 17% of Qatar's LNG production capacity would be offline for up to five years.

Abu Dhabi Executive Movements An informed source revealed that Abu Dhabi sovereign wealth fund Mubadala may not have any representatives attending the conference. It remains unclear whether UAE oil company Abu Dhabi National Oil Company CEO Sultan Al Jaber will attend in person. The conference website lists him as a speaker. ADNOC did not immediately respond to requests for comment. At last year's conference, Al Jaber stated it was time to "make energy great again," echoing Trump's "Make America Great Again" slogan, while promising that ADNOC's international investment arm XRG would make substantial investments in the United States. Nasser remarked at last year's CERAWeek that current energy transition plans away from fossil fuels had no better chance of success than Elvis Presley making a comeback tour.