ExxonMobil Holdings Corp. and Chevron Corp. have pulled out of the upcoming ADIPEC oil conference in Abu Dhabi, citing heightened security concerns in the Middle East. Both companies had initially planned to attend the event scheduled for next month but decided to withdraw after reassessing the situation.
Sources familiar with the matter confirmed the cancellations, though neither ExxonMobil nor Chevron has publicly commented on the decision. The move comes amid growing tensions in the region, which appear to have influenced the companies' attendance plans.
The ADIPEC conference is a major gathering for the global energy industry, typically attracting top executives and industry leaders. The absence of two major U.S. oil giants could impact the event's dynamics and discussions.