Saudi Arabia is working to demonstrate resilience amid escalating missile and drone attacks by the Iran-aligned Houthi militia in Yemen, which have recently targeted the kingdom’s capital, Riyadh. These assaults have intensified tensions as the Gulf nation hosts major international energy and investment events, underscoring the broader regional instability.
In the midst of the World Petroleum Congress (WPC) Energy Congress held at Riyadh’s exhibition center this week, attendees received warnings about potential missile threats near King Khalid International Airport. The airport has been a frequent target, suffering strikes that have resulted in at least 17 fatalities and caused extensive injuries. Saudi authorities have suspended commercial flights at the airport until further notice, forcing conference delegates and prominent executives—including leaders from Exxon Mobil, Shell, Chevron, and BP—to alter travel plans or cancel participation.
Despite these disruptions, Saudi officials are emphasizing calm and security. Prince Abdulaziz bin Salman, the Saudi energy minister, spoke defiantly during the conference, stating that “fear” was not part of the kingdom’s response. The WPC event, initially scheduled for April but postponed due to escalating conflict following U.S. and Israeli strikes on Iran in February, marked Saudi Arabia’s first time hosting the triennial congress. The forum attracts thousands of participants from the international energy sector and highlights Saudi Arabia’s role as a central energy supplier.
The recent attacks reflect the broader challenges posed by the eight-month-old conflict between Iran and Israel, which has transformed regional trade and security dynamics. Key maritime routes like the Strait of Hormuz have become flashpoints after Iran asserted control, prompting Saudi Arabia and other producers to reroute oil exports through the Red Sea—routes that have also come under attack from Iran-backed militias. These developments have tested Saudi Arabia’s infrastructure and economic stability, even as oil prices surged and the kingdom maintained strong export revenues.
Looking ahead, Saudi Arabia is preparing to host the Future Investment Initiative (F.I.I.) later this month, a high-profile summit intended to showcase Crown Prince Mohammed bin Salman’s Vision 2030 agenda. The economic diversification plan aims to reduce the kingdom’s reliance on oil by promoting sectors such as finance, technology, tourism, and culture. Organizers of the F.I.I. have affirmed the event will continue as planned, citing “comprehensive security measures” and transportation support.
However, uncertainty remains about the willingness of global executives and political leaders to attend amid ongoing security threats. Some key figures, including U.S. Energy Secretary Chris Wright and Italy’s energy security minister, have opted to participate remotely. Industry experts suggest that proceeding with these events is both an economic necessity and a strategic effort to maintain investor confidence and deny the Houthis a psychological victory by disrupting Saudi Arabia’s economic momentum.
Experts caution, however, that while hosting major conferences underscores Saudi Arabia’s resilience, sustained attacks could strain the kingdom’s ability to project stability over time. Prince Abdulaziz highlighted the restoration and planned expansion of the East-West pipeline—critical for bypassing the contested Strait of Hormuz—and framed resilience as a result of long-term planning rather than crisis response alone.
As Saudi Arabia navigates this volatile environment, the kingdom’s ability to protect its energy infrastructure and maintain its position as a global oil supplier remains under scrutiny, even as it seeks to broaden its economic footprint on the international stage.