PetroChina briefly became the world’s largest company by market capitalization after its 2007 Shanghai listing.
PetroChina’s A-share debut took place on the Shanghai Stock Exchange on November 5, 2007. Its shares rose sharply on the first day, giving the company a reported market value above $1 trillion and temporarily placing it at the top of global rankings.
PetroChina is the publicly traded arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its activities include exploration, production, refining, and marketing.
The ranking was short-lived because the share price fell after the dramatic debut. Market capitalization is calculated by multiplying share price by shares outstanding, so a rapid price move can change a company’s position without an immediate change in its operations.