PetroChina became the first publicly traded company valued at US$1 trillion during the 2007 commodity boom.
PetroChina briefly reached a market capitalization of about US$1 trillion on November 5, 2007, during its first trading day in Shanghai. The event occurred as energy prices and Chinese equities were rising sharply, creating an exceptionally high valuation for the oil and gas producer.
The milestone was short-lived: PetroChina’s share price later fell substantially from its initial peak. This makes it an important reminder that market-cap records can reflect temporary market enthusiasm rather than a permanent ranking among the world’s richest companies.
PetroChina is the listed oil and gas subsidiary of China National Petroleum Corporation, or CNPC. It trades in mainland China and also has shares listed in Hong Kong. It should not be confused with Saudi Aramco, which became a later market-cap giant after its 2019 IPO.