Chevron (CVX – 61.02) is reporting a $4 billion dollar first quarter profit, Exxon Mobil (XOM – 63.08) $8.4 billion, and ConocoPhillips (COP – 66.90 ) $3.29 billion. This past week these companies have been releasing their first quarter reports and many people are starting to wonder about these companies and the high oil (72)prices. I imagine the public and several politicians will be putting pressure on these companies looking for answers.

I think oil stocks are priced reasonable since they are all around 60 even BP (BP – 73.72) is at a affordable price for what these companies have been bringing in. For the profit potential some of these stocks are a great buy. The summer is coming and as the heat rises so will the prices of gasoline and from this all of the above companies will be adding on profits for the rest of 2006. These companies have the interest of many US investors, but I believe these profits from this companies will in time be the type of profits several Chinese companies will bring in.

Here are a few companies from China that could bring you more bang for your buck. China is working hard to fill their demand of oil and in doing this they are exploring all parts of the globe including parts Kenya and Cuba.

Its hard to believe that in 2001 Sinopec (SHI – 58) was trading below 10 and now they are beginning to shine. At the time they are not hitting expectations, but don’t write Sinopec off quite yet. PetroChina (PTR – 112.40) is China’s top oil company at this time that is competing against the oil companies from the west. PetroChina and CNOOC (CEO – 82.68) was trading below 20 just 5 years ago. China Petroleum & Chemical (SNP – 64.30) who has a joint venture agreement with Mitsui Chemicals and BP to help bring Exxon type profits. China Petroleum & Chemical was around the same price as PetroChina and CNOOC 5 years ago. This is a list of the oil companies from China that will allow you to find your black gold.