By Julia Payne, Dmitry Zhdannikov and Ahmad Ghaddar
LONDON, Feb 18 (Reuters) - The list of cocktail parties
during London's International Petroleum Week has shrunk even
further as hosts like ExxonMobil and Azerbaijan's SOCAR
continue to cancel events due to the coronavirus, trading
sources said.
IP Week is a key oil traders' gathering that takes place
every year in February. This year, it is scheduled for Feb.
24-27. Oil majors, national oil companies and trading firms host
receptions throughout the week.
Spooked by the epidemic, several oil companies based in Asia
said last week that they would skip IP Week this year. Oil major
BP then cancelled all events along with storage company
Vopak and inspection company Bureau Veritas.
The move has now prompted others to follow suit as the
number of attendees plunges. ExxonMobil, SOCAR, Royal Dutch
Shell and PetroChina joint venture PetroIneos are the
latest to cancel their receptions this week.
SOCAR's event typically draws a crowd of over 1,000 people.
Shell hosts several receptions, and so far, only its fuel
oil event has been cancelled, traders specified.
"IP WEEK reception scheduled for February 25th at the SAVOY
is cancelled due to recent developments concerning the spread of
the coronavirus," SOCAR said in a note to attendees.
The company did not immediately respond to a request for
comment. A spokesman for Exxon said one part of its business had
cancelled IP Week-related activities, without providing further
detail. A spokesman for Shell did not immediately comment.
China reported its fewest new coronavirus infections since
January on Tuesday and its lowest daily death toll for a week,
but the World Health Organization said data suggesting the
epidemic had slowed should still be viewed with caution.
Among others, Spain's Repsol has decided not to
send a delegation, traders said. Repsol did not immediately
respond to a request for comment.
"The avalanche is rolling down the hill," one source said,
referring the lengthening list of cancelled meetings and
parties.
(Reporting By Julia Payne, Ahmad Ghaddar and Dmitry Zhdannikov;
Editing by Jan Harvey)
BP (BP.)
