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PetroChina has become the world's second-largest oil company by market capitalization.
PetroChina has become the world's second-largest oil company by market capitalization.
As the share price of PetroChina (0857.HK) has risen, the company has overtaken Royal Dutch Shell to become
As the share price of PetroChina (0857.HK) has risen, the company has overtaken Royal Dutch Shell to become the world’s second-largest oil company by market capitalization.
As of the close of Hong Kong’s stock market last Friday, the share price of PetroChina, listed in Hong Kong, stood at HK$9.91, and its market capitalization had risen to US$230.7 billion. Meanwhile, Shell, the world’s second-largest oil company, had a market capitalization of approximately £116 billion—as calculated based on the closing price of the London stock market last Friday—equivalent to roughly US$229.3 billion (with £1 equaling US$1.9769). Currently, ExxonMobil remains firmly in first place globally in terms of market capitalization. In addition, BP has a market capitalization of around US$220 billion, placing it fourth on the list.
Since the beginning of this year, driven by rising energy demand on the Chinese mainland, the stock prices of China's three major state-owned oil companies have surged strongly. PetroChina’s stock price has risen cumulatively by 58%, while Sinopec and CNOOC have seen cumulative gains of 63% and 31%, respectively—both exceeding the Hang Seng Index’s 27% increase over the same period. Recently, PetroChina, whose wealth has been steadily climbing, announced that in the first nine months of this year, its crude oil and natural gas production rose by 5.8% to 793.9 million barrels.
Keywords：Saifou Petroleum,Petroleum machinery
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