Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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
A look at Sears through the years Now Sears has officially said its business has an uncertain future, here's a look at photographs that documents the store's rich history. More
Coolest hotel bars for business travelers in 2017 CNNMoney asked a high-end concierge service for routine business travelers what hotel bars they'd recommend in 4 major U.S. cities. Here are the best spots. More
Top credit cards for business travelers 2017 Just like a pair of pants, there's no 'one size fits all' when it comes to the best credit cards for travelers. More

Special Offer