PetroChina was the first publicly traded energy company to surpass a $1 trillion market capitalization.
PetroChina reached the milestone shortly after its 2007 listing in Shanghai. Its shares surged on the first day of trading, briefly giving the company a valuation above $1 trillion and making it one of the world’s most valuable companies at that time.
PetroChina is the listed arm of China National Petroleum Corporation, a state-owned oil and gas group. The company operates across exploration, production, refining, transportation, and sales, which gives it broad exposure to the energy industry.
The milestone was short-lived because market prices can move rapidly. It is also distinct from Saudi Aramco’s later $2 trillion valuation and from the large market values reached by technology companies.