PetroChina surpassed General Electric, in terms of market value, to become the world’s second-largest company. Boosted by $84-a-barrel oil prices, PetroChina shot up as much as 10 percent this morning, to a total worth of $434 billion. GE is worth $420 billion. In pole position, Exxon Mobil is valued at $518 billion. (Bloomberg)
of The Week magazine.