Trafigura Investment China (TIC) and Linyi City Development Group carry out negotiations on the import of crude oil on Aug 25. [Photo/lycfgroup.com]

Representatives from Trafigura Investment China (TIC) and Linyi City Development Group carried out negotiations on the import of crude oil on Aug 25 in Linyi, Shandong province.

TIC, based in the International Financial Center of Lujiazui in Shanghai, is a major regional hub for Trafigura's operations in Asia.

Trafigura is a Singaporean-domiciled multinational commodity trading company founded in 1993 that trades in base metals and energy. It is one of the world's top 500 companies, ranking 22nd among the Fortune Global 500 in 2019.

At the meeting, TIC praised the strong development momentum and diversified development strategy of Linyi City Development Group.

The company expressed a desire to strengthen communications with Linyi City Development Group and strengthen cooperation.

The two parties have reached a preliminary intention of cooperation in the import of crude oil.