3 of 6
BACK NEXT
China National Offshore Oil Corp. (CNOOC)
Headquarters: Beijing
U.S. Ticker: CEO (NYSE)
P/E (2008 est.): 17.9

As one of China's three big oil companies, CNOOC is well placed to capitalize on the rising price of crude oil.

China also highly regulates its oil industry, which should help the company. For example, CNOOC is the only company authorized to enter into offshore production-sharing contracts with foreign companies off the coast of China.

Morningstar analyst Feliz Li points out that one concern for the company is rising production costs, which could hurt profits. Still, CNOOC's earnings per share are expected to grow more than 44% this year.

And CNOOC is also an offshore producer of natural gas, a fuel that the Chinese government has been promoting as a clean and efficient fuel as it expands its natural gas infrastructure. CNOOC's government-owned parent company is expected to boost gas purchases this year, which should provide a further lift to sales and profits.

NEXT: Empresa Brasileira de Aeronáutica S.A. (Embraer)

Last updated June 20 2008: 1:19 PM ET
More Galleries
10 things you'll love about Windows 10 There's a lot to like about Windows 10. Here are our favorite features in Microsoft's soon-to-be-released operating system. More
Warren Buffett's gone cold. How his top 10 stocks are doing The Oracle of Omaha is an investing legend. But several of Berkshire Hathaway's biggest investments are off to a lousy start in 2015. Will shareholders complain at the annual meeting in Omaha on Saturday? More
BMW's M235i doesn't compromise BMW's new M235i gives you the performance of an M car for a lot less money. More

Special Offer