ExxonMobil Regains Spot As World's Biggest Company
IRVING, Texas -- Oil giant ExxonMobil Corp. regained its place as the world's biggest company by market value, ousting PetroChina Co., after the Chinese company's shares slumped 58 percent since its listing in Shanghai, Bloomberg News reported.
PetroChina's market capitalization dropped to $453.1 billion earlier this week, while ExxonMobil was valued at $455.8 billion, according to the report.
The Chinese company, an 8-year-old product of the People's Republic of China, took over the top spot in November when its market value surged to $1 trillion, causing ExxonMobil -- a company that traces it roots to the 1880s and John D. Rockefeller's Standard Oil Trust -- to drop to second place, the report stated.
PetroChina's market capitalization dropped to $453.1 billion earlier this week, while ExxonMobil was valued at $455.8 billion, according to the report.
The Chinese company, an 8-year-old product of the People's Republic of China, took over the top spot in November when its market value surged to $1 trillion, causing ExxonMobil -- a company that traces it roots to the 1880s and John D. Rockefeller's Standard Oil Trust -- to drop to second place, the report stated.