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November 5, 2007
PetroChina: Trillion-Dollar Market Cap
I'm just car-crash-watching, gob-smacked amazed at PetroChina's post Shanghai IPO market cap of $1-trillion. Despite having sold only 2.2% of its share capital on the public markets, and with much of its ownership hidden under mattresses somewhere in some Chinese bureaucrats' basement offices, the company is now worth more than double that of Exxon, the next most valuable company in the world.
Check the rest of the global market-cap also-rans (pre- PetroChina's Shanghai listing) here.
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As an aside, four of the ten largest public companies in the world by market cap are currently oil-related. I say that by 2025 there is a 75% chance there are no oil companies in the top ten. Any takers on the over/under?
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