Riyadh, Saudi Arabia — Amid an escalation of missile and drone attacks attributed to the Iran-aligned Houthi militia in Yemen, Saudi Arabia is seeking to project resilience while hosting a major international energy summit. The World Petroleum Congress (WPC) Energy Congress, held in Riyadh’s exhibition center beginning Sunday, faced disruptions as missile strikes targeted King Khalid International Airport, resulting in at least 17 deaths and hundreds of injuries. Operations at the airport were suspended indefinitely, forcing many delegates to reroute through alternative airports or neighboring countries.
Several prominent figures from the energy sector, including the chief executives of Exxon Mobil, Shell, Chevron, and BP, canceled their attendance, while key government representatives, such as the U.S. energy secretary and Italy’s energy security minister, participated via video link. Despite these challenges, Saudi officials underscored their determination to maintain the conference schedule, emphasizing a message of stability and security.
“The word ‘fear’ in the Saudi dictionary does not exist,” Saudi Energy Minister Prince Abdulaziz bin Salman stated during the event, seeking to reassure participants and energy markets. The minister highlighted the quick restoration and planned expansion of the East-West pipeline, a crucial alternative route bypassing the Strait of Hormuz, which has been effectively blocked by Iranian control since the conflict escalated. This pipeline, transporting crude from eastern oil fields to a Red Sea port, was temporarily shut down in September following a drone attack but has since resumed operations.
The current conflict, now in its eighth month since military strikes by the United States and Israel on Iran in late February, has disrupted the regional economic and security landscape. Ports in the United Arab Emirates have become battlefronts affecting global trade routes, and liquefied natural gas facilities in Qatar — vital for Asian markets — have suffered significant damage. Iran’s deployment of missile and drone attacks in the Persian Gulf has targeted countries hosting U.S. military bases, complicating the security environment further.
Saudi Arabia’s broader strategy — encapsulated in Vision 2030, Crown Prince Mohammed bin Salman’s plan to diversify the economy beyond oil exports — relies heavily on maintaining investor confidence. Later this month, Riyadh will host the Future Investment Initiative (F.I.I.), an annual summit drawing world leaders, billionaires, and corporate executives. Organizers have affirmed that the event, scheduled for October 26-29, will proceed with enhanced security measures. However, uncertainty remains over whether some high-profile attendees will participate amid ongoing threats.
Analysts say that Saudi Arabia’s choice to proceed with these flagship events is both an economic calculation and a strategic effort to avoid granting the Houthi militia a psychological victory. Canceling such conferences could signal vulnerability and erode the kingdom’s aspirations as a global financial hub. “Despite all the mess happening in the region, they continued with the agenda because that is ultimately what keeps confidence,” said Yousef Al-Mishammari, president of the London College of Energy Economics.
Still, experts caution that sustained attacks could strain the kingdom’s ability to convey resilience indefinitely. Hosting major events demonstrates strength, but there are practical limits to the symbolic value amid ongoing conflict, noted Neil Quilliam, a Middle East energy policy specialist. Delegates from Gulf countries emphasized their solidarity with Saudi Arabia, underscoring regional support for the kingdom despite rising risks.
For Saudi Arabia, which remains a central player in global oil markets, projecting stability is essential to safeguarding its international standing. Prince Abdulaziz framed Riyadh as “the capital of energy security,” underscoring the kingdom’s efforts to adapt to disruptions and ensure the steady flow of energy supplies in a volatile regional environment.