Target Price: $6.20
Current Price: $1.60
RedChip ResearchTM, a division of RedChip Companies, Inc., today announced it has issued a research update on Longwei Petroleum Investment Holding, Limited. (NYSE Amex: LPH), a diesel, gasoline, fuel oil, and solvent oil distributor operating in China's Shanxi Province.
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Longwei Petroleum Investment Holding Limited is an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China. The Company's oil and gas operations consist of transporting, storage and selling finished petroleum products, entirely in the PRC. The Company's headquarters are located in Taiyuan City, Shanxi Province. The Company has a storage capacity for its products of 120,000 metric tons located at storage facilities in Taiyuan and Gujiao, Shanxi. The Company's Taiyuan and Gujiao facilities can store 50,000 metric tons and 70,000 metric tons, respectively. The Company has the necessary licenses to operate and sell petroleum products not only in Shanxi but throughout the entire PRC. The Company's storage tanks have the largest storage capacity of any non-government operated entity in Shanxi.