Coronavirus fears trigger key event cancellations at IP Week

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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 outbreak in 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 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 and many others will be speaking at a vital conference focused on the industry’s response to the 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 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


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

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