PetroChina briefly became the first company valued at more than $1 trillion.
PetroChina reached that nominal market-capitalization milestone on November 5, 2007, during the first day of trading for its Shanghai-listed shares. Its valuation briefly exceeded $1 trillion, making it the first publicly traded company reported to cross that threshold. The surge occurred during a period of strong Chinese stock-market growth and elevated investor enthusiasm for energy companies.
The valuation did not remain above $1 trillion for long. The company’s share price later fell, and the milestone is often remembered as a short-lived peak rather than a sustained position. Market capitalization is especially sensitive to rapid price movements when a company has a very large number of shares.
PetroChina is the listed subsidiary of China National Petroleum Corporation, one of China’s major state-owned energy groups. It should not be confused with Sinopec, another large Chinese oil and petrochemical company.