Several senior international oil executives called off plans to attend the World Petroleum Council's energy congress in Riyadh after a Houthi missile attack on King Khalid International Airport killed 12 and injured over 300. The strike, the third on the airport in a week, was labeled a 'cowardly terrorist attack' by Saudi Arabia, which vowed a decisive response. A fourth attack on Sunday involved an intercepted cruise missile that sparked a fire in another terminal.
As officials gathered at the Ritz-Carlton Hotel, Houthi spokesman Brig Gen Yahya Saree warned against using Saudi airports or airspace, with the group claiming responsibility for attacks on Riyadh and Dammam airports and two Aramco oil sites. The Houthis said they would 'continue their operations deep inside Saudi.' Executives from Exxon Mobil, Total Energies, Shell, and BP withdrew from the congress, with BP citing travel disruption and valuing regional partnerships. Shell declined to comment, while Exxon and Total Energies did not respond.
Saudi officials confirmed both the energy congress and the upcoming Future Investment Initiative would proceed despite the violence. Analysts noted the attacks reflect broader regional escalation following the US-Israel-launched war against Iran in February, which has provoked retaliation, spread violence, and increased global energy prices. Experts said the Houthis aim to raise the cost of Saudi decisions by threatening civilian lives and economic confidence.
Source: Financial Times Markets · Summarized by HeadlinesBriefing