PetroChina has become the second-largest company in China by market value after it overtook the Industrial and Commercial Bank of China. Bloomberg reported that the oil major’s stock had soared by 42% since the start of the year, bringing its market value to the equivalent of some $244 billion. The surge was a result of higher oil prices that have lifted energy stocks around the world.
was also among the big winners on the Chinese stock market, along with China Merchants Energy Shipping Co., with seeing a 42% rise in its stock’s value since the start of the year, just like PetroChina. By Charles Kennedy for Oilprice.com
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