摘要
Back in December, CIB took a cue from Warren Buffett and looked at the recent A-share initial public offering （IPO） of PetroChina （中国石油）, China＇s largest oil company and, at the time, the largest company in the world. We didn＇t like what we saw. While the argument in favor of PetroChina was obvious -- it is of course, the primary provider of refined oil to a country with the fastest-growing oil demand in the world, and operating in a period of exponential growth in oil prices -- the negatives were just as striking.
