Welcome to the new year! LPIH opened up today at 2.8000, had a high of 2.9700, and the latest status update showed 2.8900. For several days LPIH has held a top volume spot and has continued to be on the upslope. This is one hot stock and could possibly hold a bright future in 2010.
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Longwei Petroleum Investment Holding Limited is an energy company that, through its subsidiaries, engages in oil and gas operations in the People’s Republic of China. Oil and gas operations consist of transporting, marketing and selling finished petroleum products. The Company’s primary facilities are located in Taiyuan, Shanxi Province (Shanxi). The Company purchases diesel, gasoline, fuel oil and kerosene (the Products) from various petroleum refineries in the People’s Republic of China. The Company seeks to earn profits by selling its Products to gas stations, coal plants and other power supply customers and small, independent gas stations. The Company operates in two segments: Product Sales, which is engaged in purchasing and selling diesel, gasoline, fuel oil and kerosene in the People’s Republic of China, and Agency Sales, which acts as an agent in the purchase and sale of products by other gas and oil distributors in the People’s Republic of China.
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