Highlights
Eight events canceled so far, say sources
Key oil firms imposing travel restrictions
London —
A growing number of oil companies are canceling their attendance during International Petroleum Week, Europe’s premier oil event which is due to take place next week.
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At least eight industry events have already been canceled as companies take a cautious stance against the coronavirus outbreak in China and the Asian trading hubs of Hong Kong and Singapore.
Amongst the latest companies to cancel attendance is the Polish refiner PKN Orlen. Earlier this week, London-based BP said that staff would not be attending any event during IP week. Madrid-based Repsol said that no staff would be coming to IP Week, while ExxonMobil also canceled IP Week attendance.
While a lot of Asia-based oil traders had confirmed last week they would not come to London, many Europe-based and major Geneva-based traders were not sure whether they would make the trip as European companies are advising their employees only to travel when necessary.
“Unfortunately, with the virus, we aren’t sure what company travel policy will be yet so IP week is slightly up in the air for me,” a trader said.
“I am not coming,” a second trader based in Switzerland said.
CANCELLATIONS
The latest events to be canceled are Saras party on Monday and Peninsula Petroleum party on Tuesday.
“We regret to inform you, that due to the recent developments concerning the spread of the coronavirus, we are canceling our annual IP Week Event scheduled for Tuesday 25th February 2020,” Peninsula Petroleum wrote to guests Thursday.
Amongst the canceled events is Azerbaijani state oil and gas company Socar’s party, typically the largest evening reception in IP Week, which was this year scheduled to take place at the Savoy Hotel in Mayfair on Tuesday.
“We are sorry to inform you that we are canceling our traditional SOCAR IP Week Cocktail reception scheduled for Tuesday 25th February 2020,” Socar wrote to guests Tuesday. “We made this difficult decision because of recent developments concerning the spread of the coronavirus. In this context, we are giving priority to the health and safety of our business partners and employees.”
Other companies whose receptions and events have been canceled are: ExxonMobil, Equinor, Petroineos, Vopak, Bureau Veritas, and Shell.
“Our party is postponed to June 25”, Petroineos said Wednesday.
“Due to recent global developments concerning the spread of the coronavirus and after careful consideration, we unfortunately had to decide to cancel this year’s [event],” Vopak said in an email.
However, the Energy Institute, which runs the main IP Week conference and dinner, said: “IP Week 2020 conference and Dinner is full steam ahead for next week. Senior figures including the new CEO of BP, the CEO of Masdar, the CEO of Vitol, the UK Chair of Shell, the President of E&P Total, the Executive Director of the IEA and many others will be speaking at a vital conference focused on the industry’s response to the climate emergency. Common sense precautions are being taken on coronavirus and delegates are being advised in line with the latest advice of the UK Government.”
International Petroleum Week takes place every February in London and is due to kick off this year on Monday.
IP WEEK SCHEDULE
Day & Time
Company name
Location
Still on / Cancelled
Monday 8:00-17:00
Platts Oil & Energy forum
Hilton Park Lane
Still on
Monday 10:00-13:00
Citi
Citi Sterling Square
Still on
Monday 13:30-15:30
JBC Energy briefing
No 4 Hamilton Place
Still on
Monday 16:00-19:00
Vitol – Women in energy reception
Arts Club Dover street
Still on
Monday 16:00-18:00
Rystad Energy information Session
Le Meridien Piccadilly
Still on
Monday 17:30-20:30
Saras Trading
Four Seasons Hotel Park Lane
Cancelled
Monday 18:30-21:00
Kuwait Petroleum Corporation reception
JW Marriott Grosvenor House Park Lane
Still on
Monday 18:30-23:30
IBIA
Grosvenor House Hotel
Still on
Monday 18:30-late
Vitol LPG
Café de Paris
Still on
Monday 19:00-22:30
Intercontinental Exchange (ICE)
National Gallery, Trafalgar square
Still on
Tuesday 07:30-13:00
Argus IP Week Conference
JW Marriott Grosvenor House Park Lane
Still on
Tuesday 9:00-17:00
IP Week 2020 Conference
Intercontinental London
Still on
Tuesday 12:00-14:00
Vopak IP Lunch
Lincoln’s Inn Old hall
Cancelled
Tuesday 12:00-16:00
Marex Drinks
The Market Tavern, Shepherd Market
Still on
Tuesday 16:30-19:30
Petroineos
116 Pall Mall
Cancelled
Tuesday 18:00-20:00
Saudi Aramco
The Dorchester Ballroom, Park Lane
Still on
Tuesday 18:00-22:00
Shell
Banqueting House Whitehall
Cancelled
Tuesday 19:00-22:00
Equinor
Sushisamba Covent Garden
Cancelled
Tuesday 19:30-late
Socar
Savoy Hotel
Cancelled
Tuesday 20:30-late
Peninsula
Quagalinos
Still on
Tuesday 22:00-02:00
Argus IP Week Crude Drinks
The Hard Rock Café
Still on
Wednesday 09:00-11:00
Eagle Commodities
Hide, 85 Piccadilly
Still on
Wednesday 9:30-12:30
OMV Brunch
Savoy Hotel
Still on
Wednesday 12:00-15:00
Goldman Sachs
River Entrance of Savoy Hotel
Still on
Wednesday 14:00-19:00
Sonangol Conference & Tea Party
Four Seasons Hotel, Park Lane
Still on
Wednesday 17:00-18:00
ExxonMobil
1st floor, Intercontinental Hotel
Cancelled
Wednesday 18:00-22:00
The Dorchester Ballroom, Park Lane
Still On
Wednesday
Bureau Veritas
Cancelled
Source: Platts
