PetroChina briefly became the world’s most valuable company by market capitalization in 2007.
PetroChina reached the distinction on November 5, 2007, the day its Shanghai-listed shares began trading after the company’s large public offering. Its market value briefly exceeded $1 trillion, placing it above ExxonMobil at that moment. The valuation then fell sharply as the shares lost much of their opening-day surge.
PetroChina is the publicly traded arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its business includes oil and natural-gas exploration, production, refining, chemicals, marketing, and pipeline operations.
The episode is often confused with a lasting ranking of the world’s largest companies. PetroChina’s brief lead was a snapshot created by a dramatic first-day price, not a long-term position. Its achievement also preceded the later trillion-dollar milestones reached by Apple and other U.S. technology companies.