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Saudi Aramco CEO cancels CERAWeek Houston appearance — stays in Saudi Arabia amid Iran war; Aramco cuts 2mb/d output

·Riyadh, Saudi Arabia / Houston, USA

Saudi Aramco CEO Amin Nasser cancelled his appearance at CERAWeek Houston — one of the energy industry's premier conferences — to remain in Saudi Arabia because of the Iran war. Kuwait Petroleum Corporation CEO Sheikh Nawaf Al-Sabah will also not attend in person. Abu Dhabi wealth fund Mubadala is also unlikely to send representatives. Aramco has already cut oil output by ~2 million barrels per day from two fields and is piping crude from its eastern to western coast to bypass the Strait of Hormuz.

Saudi Aramco CEO Amin Nasser, usually a headline speaker at CERAWeek, cancelled his Houston appearance to remain in Saudi Arabia due to the Iran war, per Reuters. OTHER ABSENCES: - Kuwait Petroleum Corporation CEO Sheikh Nawaf Al-Sabah: not attending (will join Tuesday session virtually from Kuwait) - Abu Dhabi Mubadala wealth fund: unlikely to send representatives - UAE ADNOC CEO Sultan Al Jaber: unclear if attending (listed as speaker) ARAMCO OPERATIONAL IMPACT: - Cut oil output ~2 million bpd from two fields (Reuters) - Piping millions of barrels/day from east coast to west coast to bypass Hormuz - Nasser will not provide a recorded video message — complete CERAWeek withdrawal SIGNIFICANCE: The world's largest oil company CEO skipping the industry's top conference is an unprecedented signal of the Iran war's economic severity. Combined with the 2mb/d production cut and Hormuz bypass logistics, it indicates Aramco is in full crisis-management mode. CERAWeek begins Monday (March 23).
aramcoceraweekoilhormuzeconomicsaudiday23

Actor responses

USNEUTRALECONOMIC

Aramco CEO's CERAWeek absence signals Gulf producers are in full crisis mode. Aligns with Bessent's $200B war funding request and US Hormuz strategy of using economic pressure to 'make Iran collapse.'

IranSUPPORTINGECONOMIC

Aramco's 2mb/d production cut and Hormuz bypass logistics confirm Iran's Hormuz strategy is achieving intended economic disruption. Parliament speaker Ghabilaf's threat to 'irreversibly destroy' Gulf oil facilities adds further pressure on producers like Aramco.

Sources

T1Reuters via Times of Israel liveblog — Aramco CEO cancels CERAWeek; Kuwait KPC also out; 2mb/d cut95% reliability