PetroChina became the world’s most valuable publicly traded company in 2007 after surpassing ExxonMobil.
PetroChina’s Shanghai listing in November 2007 produced a dramatic first-day rise, briefly giving the company a market capitalization of more than $1 trillion. That valuation moved it above ExxonMobil, then the leading public company by market value. The price later fell substantially, so the ranking was not permanent.
PetroChina is the publicly traded arm of China National Petroleum Corporation, a state-owned energy group. Its business includes oil and gas exploration, production, refining, chemicals, and fuel distribution. The company’s domestic A-share listing attracted intense investor demand during China’s stock-market boom.
This episode illustrates why market-cap records must be dated precisely. A company can briefly become the leader during one trading session, while another company can reclaim the position later. The event is also distinct from PetroChina’s earlier 2000 Hong Kong listing.