PetroChina Company Limited
(, ) (, , ) is a Chinese oil company and is the listed arm of state-owned China National Petroleum Corporation
(CNPC), headquartered in Dongcheng District
. and was the world's most valuable company by market value
as of September 28th 2010. Traded in Hong Kong
and New York
, the mainland enterprise announced its plans to issue stock in Shanghai
in November 2007, (Xinhuanet.com, with source from Shanghai Daily
) and following its debut on the Shanghai index
, its market value tripled, making PetroChina the first company to reach a trillion dollar market capitalization.Similarly, a century earlier, U.S. Steel
was the first company with a billion dollar market cap.
PetroChina was established as a joint stock company
with limited liabilities under the Company Law of the People's Republic of China (the PRC) on November 5, 1999, as part of the restructuring of CNPC
. In the restructuring, CNPC injected into PetroChina most of the assets and liabilities of CNPC relating to its exploration
and production, refining
and marketing, chemicals and natural......