PetroChina has overtaken Exxon Mobil to rank first in the latest Financial Times annual list of the world's 500 most valuable listed companies, with a market capitalization of US$329.3 billion. It's the first time for a Chinese company to secure the top spot in this 14-year-old ranking. Last year it ranked second.
PetroChina has overtaken Exxon Mobil to rank first in the latest Financial Times annual list of the world's 500 most valuable listed companies, with a market capitalization of US$329.3 billion. It's the first time for a Chinese company to secure the top spot in this 14-year-old ranking. Last year it ranked second.
PetroChina Company Limited (PetroChina), China's largest oil and gas producer, announced on Monday that it will ally with Shell through a JV to acquire Arrow Energy Limited, an Australian energy company, for 3.5 billion Australian dollars.
PetroChina aims to more than double its oil and gas output at domestic fields in cooperation with foreign partners by the end of 2015 to meet China's rising energy needs.