Conflict in Middle East shadows oil industry gathering in Malaysia
By Florence Tan and Sudarshan Varadhan
KUALA LUMPUR (Reuters) -Global energy executives gathered in the Malaysian capital on Monday for an industry conference with an eye on the dramatic escalation in the conflict between Israel and Iran, which has fuelled worries that it could widen and disrupt supply.
The head of Saudi state oil giant Aramco said conflict underscores the importance of oil and gas.
"(History has) shown us that when conflicts occur, the importance of oil and gas can't be understated," Chief Executive Amin Nasser told delegates by videolink.
"We are witnessing this in real time, with threats to energy security continuing to cause global concern," he said, without directly mentioning the fighting between Israel and Iran.
Israel launched strikes on Friday against Iran, including on its nuclear power facilities, that it said aimed to prevent Tehran from building an atomic weapon.
The fighting intensified over the weekend, with Israel targeting an installation at Iran's South Pars gas field on Saturday, the first attack on Tehran's oil and gas sector, which partially shut production. [O/R]
The attack on South Pars was surprising given its importance as a production facility, said Takayuki Ueda, chief executive of Japanese oil and gas explorer Inpex Corp.
"The market feels the situation is still under control by both countries, and I hope this situation will not be escalated," he told Reuters, adding that the firm's operations in the United Arab Emirates were running smoothly.
"If this is a really, really a full-fledged war, I think oil price will be hiked to more than $100," Ueda said.
Oil prices dipped on Monday after rising earlier in the session and surging 7% on Friday.
OPEC secretary general Haitham Al Ghais, who spoke at the event, did not take questions about the conflict and its impact on oil markets from a Reuters reporter.
Numerous other executives attending the event also declined to comment on the events in the Middle East.
Energy services firm Baker Hughes said it continued to operate its facilities in the region.
"It's a little early, and we've got to monitor the situation with regard to what's the potential impact on supply," Chief Executive Lorenzo Simonelli told Reuters on the sidelines, adding that the firm's employees were safe.
"Hopefully there's a de-escalation of tensions," he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fox News
an hour ago
- Fox News
Iran State TV hit by Israeli airstrike during live broadcast
The building that houses Iran's state-run television in Tehran was hit by a reported Israeli airstrike during a live broadcast on Monday. An Islamic Republic of Iran News Network (IRINN) television reporter said the studio was filling with dust after "the sound of aggression against the homeland." An explosion then occurred, and the broadcast quickly turned chaotic and switched to prerecorded programs. The strike came as the Israeli military claimed to have obtained "aerial superiority" over Tehran on Monday. The Israel Defense Forces (IDF) confirmed the strike, saying it "conducted a precise strike based on intelligence provided by the Intelligence Directorate, targeting a communication center that was being used for military purposes by the Iranian Armed Forces." The building "was used by the Iranian Armed Forces under the guise of civilian activity, covering up the military use of the center's infrastructure and assets," according to the IDF. The strike directly harmed the military capabilities of the Iranian Armed Forces, the IDF added. The IDF had issued an evacuation warning for civilians in Tehran prior to the strike. "Israeli civilians do not get evacuation warnings before running to shelters. We aren't the same," the IDF posted on X. The IDF previously said it has degraded Iranian air defenses and missile systems to the point that Israeli planes can now operate over Tehran without facing major threats. It said Israel now controls the skies from western Iran to Tehran. This is a developing story, more to come…
Forbes
an hour ago
- Forbes
20 Tips For Facilitating CEO Transitions
When a new CEO steps into the spotlight, internal communications teams play a pivotal role in shaping how the transition is perceived across the organization. The first impression employees form of their new leader often comes through the messages you craft, so timing, tone and transparency matter. A smooth transition is all about timely announcements, plenty of team interactions and creating space for trust to grow. To that end, 20 Forbes Communications Council members share practical steps you can take to guide your organization through this change in leadership. Internal comms pros can communicate, connect and collaborate. It's imperative to communicate clearly and promptly with employees. Engage with teams and allocate time for the CEO to meet with employees face-to-face. Jump into team meetings and articulate the objectives clearly. Activate the 100-day campaign where updates are scheduled every week for the first 100 days to communicate progress and strategy. - Alanood Aldhaher, American University of Sharjah Create a 90-day plan for socializing the new CEO within the company. This should include a listening tour and other opportunities for employees to provide feedback. Have the CEO reflect on what they are hearing. Employees will want to know how their lives will change under the new leader—giving them a voice throughout the transition will make them feel more included on any changes. - Patrick Holmes, Veteran Benefits Guide When a new CEO joins, there should be a series of proactive digital and physical touchpoints to introduce the leader personally, as well as communicate the leader's vision for the company. This will build trust and help align the organization under the new leadership. - Krystle Craycraft, NyTex Partners The first 90 days are key for visibility, listening and two-way communication. Plan events such as company town halls and other opportunities for employees to ask the new CEO questions about their approach and strategy for the business. Ensure the CEO is visible and responsive in internal communications as they ramp up. - Sheryl Seitz, C4 Ventures Emphasize an employee-first approach. I've seen too many employees find out about a new CEO from the front pages. Media coverage should be concurrent with internal announcements. There also must be clear messaging about the implications for the company, the various departments and employees. The internal communications team should continue to push management to prioritize relaying information. - Andrew Frank, KARV Forbes Communications Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify? A new CEO is a powerful opportunity to align employees with the vision of the company's leadership and to help each individual see how their role contributes to that success. But nature hates a vacuum, so move quickly to help the new CEO articulate and communicate that vision—also look for ways to help employees feel they know the new CEO as a human being and not just a title. - Elizabeth Baskin, Tribe, Inc. Connect the new CEO to the front line and middle management with every opportunity. When the CEO visits a company site for orientation, set up small meet-and-greet groups with informal agendas. Make it a listening tour more than anything else. This gives employees more direct access to the new chief executive while providing diverse insights from employees to the CEO. - Mark Dollins, North Star Communications Consulting One of the most overlooked but powerful steps internal comms can take is to narrate the transition in real time. Don't just announce the new CEO. Tell the story as it unfolds. Explain: Why did the change happen? What did the process look like? What can employees expect next? This builds transparency, reduces speculation and brings people along instead of leaving them behind. - Sara Payne, Inprela Communications When a new CEO joins, one thing that really helps is introducing him or her in a genuine, relatable way. Share who this person is, what they stand for and what they're excited to bring to the company. A short video, a Q&A or even a casual town hall goes a long way. It helps people feel included, reduces uncertainty and sets the tone for a smooth transition. - Luciana Cemerka, TP A new CEO's arrival is like launching a new brand, especially in turnarounds. Given that CEO hiring and performance oversight are core board duties, the board must be visible in the CEO rollout and ensure that marketing, communications, and HR lead with clarity. Starbucks got this right as Board Chair Mellody Hobson and CEO Brian Niccol modeled a high-trust launch that protected brand and stakeholder value. - Toby Wong, Toby Wong Consulting Shared context lowers stress levels. So, start by planning a live, all-hands AMA within the first few days of the new CEO's arrival, where staff submit questions anonymously and comms crafts candid replies linking the leader's vision to existing culture. Quick and empathetic transparency can turn uncertainty into collective momentum. - Jamie Elkaleh, Bitget Wallet Give the new CEO a voice before they ever speak. Share a playlist, a handwritten note or a photo of their hiking trip. Humanizing them through unconventional signals builds curiosity and trust faster than polished bios ever could. It makes the transition feel personal, not procedural. - Cade Collister, Metova There's already a lot of great advice out there on this topic. However, it is based on the assumption that internal comms pros are fully looped in. The most essential step to take during a new CEO transition is to make sure internal comms are engaged from the very early stages all the way through the transition period. Be a partner in the process and bring everyone along on the journey. - Barnaby Pung, Merit Network Schedule listening sessions for the new CEO within the first 30 days with as many key constituents as possible. Any time there is a change at that level, people get nervous. Change is inevitable since they didn't bring in the new person to just keep the status quo, but the agenda will be better absorbed if people feel like they got the opportunity to be heard. - Ted Hong, Solera Health Focus the messaging on why this CEO is the right fit for the future. Highlight their strengths, vision and what they bring to the table. When internal comms leads with excitement and clarity, not fear of change, it builds confidence, aligns teams faster and sets a positive tone for the transition. - Prateek Panda, Partner early with the CEO to craft a clear, authentic introduction plan, one that shares their vision, values and communication style. This builds trust, reduces uncertainty and sets the tone for transparency and alignment from day one. - Cody Gillund, Grounded Growth Studio Don't treat a new CEO's arrival like a top-secret operation! Internal comms pros should prioritize transparent and proactive communication from the moment the announcement is made. This upfront approach combats rumors and anxiety, fosters a sense of inclusion and allows employees to start aligning with the new leadership's vision from day one. - Patrick Ward, NanoGlobals Don't fall into the "100 days" trap. Great CEOs manage for the next decade, not the next few months. Think through the strategic positioning of everything you ask the CEO to say or do, and imagine how it will age over the years. - Bob Pearson, The Next Practices Group When a new CEO steps in, one of the best things internal communications can do is help the team understand that change is coming, and that's not bad. It starts with honest, human messaging that sets the tone: New leadership means fresh vision, and yes, our way of working might shift. But we don't lose our footing if we stay open and aligned. We grow together. - Rich Bornstein, Bornstein Media Employees are generally wary of uncertainty. Proactively sharing key aspects of a succession plan even before the CEO officially joins the team is an important step that internal comms pros can take to ensure a smooth transition. Addressing questions like "why now?" and "what does the transition mean for the company?" are just as important as who. The first two can be shared well in advance to reduce uncertainty. - Rekha Thomas, Path Forward Marketing
Bloomberg
an hour ago
- Bloomberg
What to Know About the Nuclear Non-Proliferation Treaty as Iran Mulls Exit
Iran could be poised to withdraw from an international accord that seeks to prevent the spread of nuclear weapons. This follows growing tensions with the United Nations' atomic watchdog, compounded by Israel's attacks on the Islamic Republic's nuclear program. Should Iran pull out of the Treaty on the Non-Proliferation of Nuclear Weapons, it would reduce the chances of a diplomatic solution to Tehran's atomic ambitions and be a serious blow to global arms-control efforts.
