PetroChina became the world’s most valuable public company in 2007 after overtaking General Electric.
PetroChina reached a market capitalization above $1 trillion on its first trading day in Shanghai in November 2007, briefly becoming the world’s most valuable listed company. Its shares surged far above the offering price, although the valuation later fell substantially as market conditions changed.
PetroChina is the listed arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its operations include oil and gas exploration, production, refining, chemicals, pipelines, and marketing.
The 2007 episode is often used to show how market capitalization can be distorted by speculative trading and a limited public float. A company’s headline value can rise rapidly even when only a fraction of its shares are actively traded. PetroChina’s milestone predates the later trillion-dollar achievements of Apple, Saudi Aramco, and other giants.