On September 21, 2018, Liu Yijiang, Chairman of ZhenHua Oil, met with Trafigura CEO Jeremy Weir. The two sides held in-depth discussions on deepening cooperation in the field of crude oil and LNG trading and the dynamics of the international petroleum and LNG market.
Liu Yijiang warmly welcomed Jeremy Weir and pointed out that ZhenHua Oil has developed rapidly in recent years and has been actively seeking cooperation opportunities with Trafigura and other international oil traders. While China’s domestic oil&natural gas market and local refineries are in the process of transformation and upgrading, he hoped that the two sides will work together to strengthen exchanges and cooperation in oil source swaps, financing credits and LNG trade.
Mr. Weir expressed his appreciation for the rapid development of ZhenHua Oil and introduced current situation of businesses of the Trafigura Group, the cooperation with NORINCO and the future development plan. He said that the Trafigura Group currently focuses on trade of oil and natural gas and metal minerals and related strategic investments, which is very compatible with ZhenHua Oil’s competitive oil sources and trade channels. He said he believes that China’s oil and natural gas demand will continue to rise, and cooperation with ZhenHua Oil in LNG trade, logistics assets and LNG receiving stations will help the two sides jointly cope with the impact of trade friction between United States and China and furtherly expand the Chinese market.