PetroChina was the first publicly traded business outside the United States to exceed a US$1 trillion market capitalization.
PetroChina crossed the threshold on November 5, 2007, when its Shanghai listing surged on its debut. The company’s market value briefly reached roughly US$1 trillion, placing it among the largest publicly traded businesses in the world.
PetroChina was created as the publicly listed subsidiary of China National Petroleum Corporation. Its business covers the petroleum chain, including production, refining, transportation, and sales. The listing occurred during a period of strong enthusiasm for Chinese equities and high energy prices.
The achievement should not be confused with the size of China’s entire state-owned oil sector. It referred specifically to PetroChina’s publicly traded shares and the implied value of all shares. The price later declined substantially, showing that a record valuation at a debut can be temporary.