Mark Grammer
China Petroleum & Chemical Corp.
SNP-N
BUY
Aug 13, 2007
2nd largest distributor and manufacturer of petroleum products in China. Have the biggest market share on the retail side. Had a major find in China. 3% dividend.
(A Top Pick August 16/05. Up 25%.) This stock should do very well once there is de-regulation in the refinery business in China which is due in the next year or two.
There is risk with China, but this is a company that is well positioned for the future. It is the biggest oil/gas downstream play so they have a lot of retail with a 70% market share. They have the upstream oil as well. A good long-term profile.