Oil companies are cancelling their receptions at International Petroleum Week (IP Week) in London at the end of this month as concerns over the spread of coronavirus rise, five traders told Reuters on Friday.
IP Week is a key oil traders’ gathering that takes place every year in February. This year, it is scheduled for Feb. 24-27.
“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 lunch,” Vopak said in a message sent to its clients, seen by Reuters.
Bureau Veritas, a leading oil inspection company, also informed its costumers it had canceled its annual IP Week reception.
BP Oil Company has canceled all its IP Week events as well and instructed staff to avoid attending costumer events, two sources familiar with the matter told Reuters.
BP didn’t respond to a request for a comment. Bureau Veritas representatives were not available to comment. Vopak did not reply to a Reuters request for comment.
Reuters has reported that several oil companies based in Asia have decided not to attend IP Week events this year due to the coronavirus epidemic.