PetroChina briefly became the first company to debut with a market capitalization above $1 trillion.
PetroChina reached a market value above $1 trillion on the first day of trading of its Shanghai-listed shares in November 2007. The company is the listed oil and gas arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its debut price rapidly lifted the implied value of the company’s outstanding shares.
The event is different from a company gradually rising above $1 trillion after years of public trading. PetroChina’s valuation fell sharply after the debut, and the record was therefore a short-lived market event rather than a sustained position. It is also distinct from Saudi Aramco’s later record-breaking initial public offering in 2019. Market-cap comparisons depend on share prices, share counts, listing structures, and currency conversions.