PetroChina briefly became the world’s most valuable publicly traded company when it listed in Shanghai in 2007.
PetroChina’s Shanghai debut in November 2007 produced an extraordinary opening surge. Its implied market capitalization briefly exceeded $1 trillion, putting it above established giants such as ExxonMobil at that moment. The valuation quickly fell back as the initial trading excitement faded.
PetroChina is the listed arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its business includes oil and gas exploration, production, refining, transportation, and sales.
The episode is often confused with later milestones involving Apple and Saudi Aramco. PetroChina’s $1 trillion valuation was brief and occurred during a volatile period in Chinese equities. A temporary peak is different from maintaining the world’s highest market capitalization over a sustained period.