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Once upon a time, PetroChina Co. Ltd. was the world’s most valuable company, clocking in at $1-trillion (U.S.) in November, 2007. Those days are over. Today, the Chinese state oil and gas producer is worth $235-billion. That may be more realistic – Exxon Mobil Corp. has a market capitalization of $380-billion. PetroChina is a different oil company today, however, judging from Thursday’s first-half results. The question is whether it is a more investible one.