PetroChina briefly became the first company outside the United States to exceed a $1 trillion market capitalization in 2007.
PetroChina reached the headline valuation during its initial public offering in Shanghai in November 2007. Its shares surged on the first trading day, producing a market value above the trillion-dollar mark before the price later declined. The episode illustrates how market capitalization can be affected by a sharp opening rally and changing investor sentiment.
PetroChina is the listed oil and gas arm of China National Petroleum Corporation, commonly known as CNPC. Its business includes exploration, production, refining, transportation, and sales of petroleum and natural-gas products.
The 2007 figure should not be treated as a permanent ranking. PetroChina’s market cap fell after the initial surge, and later American technology companies established much more durable trillion-dollar valuations. The event is also distinct from the separate records set by Saudi Aramco and Apple.