Oil stock #2: China Petroleum and Chemical (SNP)

Filed under: Oil, Stocks to Buy

Investors interested in foreign exposure to crude should consider China Petroleum and Chemical (NYSE: SNP).

Imagine the demand for crude for a nation whose economy is growing like a weed. The economies of the world may be receding, but China is still growing. More importantly, its government is investing heavily in making sure that growth continues.

Given that fossil fuel is so critical to any industrial society, owning China Petroleum makes a ton of sense. The stock is up almost 50% since bottoming in March, but there are more gains to be had.

I rate SNP a B or Buy.

Next up: Oil Stock #3.

Oil stock #2: China Petroleum and Chemical (SNP) originally appeared on BloggingStocks on Sun, 24 May 2009 09:00:00 EST. Please see our terms for use of feeds.

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