PetroChina briefly became the first company to surpass a $1 trillion market capitalization on the Shanghai Stock Exchange in 2007.
The milestone occurred when PetroChina’s mainland-listed shares began trading in Shanghai in November 2007. The opening surge gave the company an enormous valuation, briefly making it the world’s most valuable company by market capitalization before the share price fell back.
PetroChina is the publicly traded arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its operations include exploration, production, refining, chemicals, marketing, and natural gas. Because it is tied to energy prices and state-controlled ownership, its market value can differ greatly from that of private technology firms.
The 2007 valuation was brief and reflects a market price at a particular moment. It should not be confused with PetroChina’s total assets, annual revenue, or the valuation of its parent company, CNPC.