In light of the consequences of COVID-19 and global market volatility, the 23rd World Petroleum Congress has been postponed to 2021, organizers said May 14.

The event was originally due to take place December 2020 at the George R. Brown Convention Center in Houston. The venue and host city remain the same for the revised date of Dec. 5-9, 2021.

The decision, announced by WPC President Tor Fjaeran and the organizing committee chairman, Jeff Shellebarger, came after careful deliberation and discussions with key stakeholders who fully supported the decision, according to a release from the organization.

“We are very mindful of the challenging situation currently facing all our participants, whether they be sponsors, exhibitors, partners, speakers or delegates,” Fjaeran. “Under these circumstances, we feel postponing the Congress to next year is the most prudent approach to ensuring a safe and productive dialogue with our global attendees.”

The World Petroleum Council is a non-advocacy, non-political organization established in 1933 to provide a neutral platform for discussion of the issues facing the oil and gas industry and its stakeholders around the globe.

In addition to health and safety concerns, the organization also noted the travel restrictions related to the coronavirus epidemic currently in place by many governments, affecting all business sectors. These impacts and the resulting fall in oil and gas demand are expected to last through the rest of 2020. As a result, Shellebarger, who serves as chairman of the 23rd World Petroleum Congress Organizing Committee, said moving the event to December 2021 better assures international participation and engagement.

“Our industry is under intense pressure but, as we have witnessed time and again, this industry is also resilient and extremely innovative,” he said. “The Organizing Committee will host a world-class event for oil and gas leaders and dignitaries from around the globe next year in Houston as a forum for the important conversations necessary to navigate this new landscape.”

In a statement, Houston Mayor Sylvester Turner also added: “The World Petroleum Congress is the world’s premier oil and gas forum, and it took significant time and effort to bring it to the United States and Houston. But, considerations for international delegate entry and safety are imperative. If moving to a different date allows us to deliver what we had promised–hosting the best WPC in the event's storied history–then I'm in favor of the change.”

The 23rd World Petroleum Congress is expected to attract more than 50 ministers, 700 expert speakers, 1,000 media and 10,000 attendees from around 100 countries. It will also feature the World Petroleum Exhibition in the 50,000 square meter venue in the compact downtown Houston campus.

The event’s presenting sponsors are Accenture, Baker Hughes Co., BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., Halliburton Co., Hess Corp., Qatar Petroleum, and Saudi Aramco.