As IP Week nears more companies cancel social events due to coronavirus

By Olga Yagova and Julia Payne

MOSCOW, Feb 21 (Reuters) - A further spate of companies
involved in International Petroleum Week in London have
cancelled social events at the conference, one of the biggest of
the year for oil traders, due to mounting concerns over the
threat of coronavirus.

IP Week is a key annual oil traders' gathering that takes
place in February. Oil majors, national oil companies and
trading firms host receptions for networking throughout the
week, which is scheduled this year for Feb. 24-27.

Trading firm Glencore, Italian refiner Saras
and banking group ING are among companies
that have cancelled IP Week receptions in recent days due to the
virus threat, four sources told Reuters on Friday.

They join cancellations earlier this month by SOCAR, PKN
Orlen, BP, Vopak and others.

Glencore, whose party is one of the biggest during IP Week
attracting hundreds of visitors, sent a message to clients
cancelling the reception "given the continuing concerns and
developments regarding the spread of the coronavirus".

The company however said all other meetings scheduled with
Glencore teams would take place as planned.

Saras said in an email to Reuters it had cancelled its
reception, while Glencore confirmed the cancellation. ING didn't
immediately respond to a Reuters request for comment.

Organisers have said the week's main conference sessions as
well as other associated industry events would go ahead
regardless of the virus.

The coronavirus outbreak in China has not yet reached its
peak, state television quoted a top decision-making body of the
ruling Communist Party as saying on Friday.
(Reporting by Olga Yagova in Moscow and Julia Payne in London
Editing by David Holmes)