PetroChina briefly became the world’s most valuable listed company by market capitalization in 2007.
PetroChina reached the remarkable position on November 5, 2007, its first day of trading in Shanghai. Its market value briefly exceeded $1 trillion, although the share price later fell sharply and the company did not retain that ranking.
PetroChina is the listed arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. The company explores for, produces, refines, transports, and sells oil and natural gas.
The episode is often confused with the world’s largest initial public offerings. PetroChina’s 2007 Shanghai listing was notable for its enormous market value, but it was not the largest IPO ever. Market capitalization also differs from enterprise value, which includes debt and subtracts cash.