The number of US companies featured in Fortune magazine’s annual list of the world’s top 500 global companies fell to its lowest level ever, while more Chinese firms appeared than ever before.

Signaling the effects of the devastating financial crisis on the US economy, a non-US firm topped the list for the first time in over a decade, with Anglo-Dutch energy giant Royal Dutch Shell coming in first. The firm brought in $15 billion more in sales than second place oil rival Exxon Mobil of the US.

China saw its fortunes rise across the board with oil giant Sinopec appearing in the top 10 for the first time, the magazine reported. Overall, China had an unprecedented total of 37 companies featured on the list, with nine new entries and the others climbing in the rankings.

Fortune meanwhile said US-based Wal-Mart slid from last year’s top spot to third, with revenues of over $405 billion. But the number of

US firms in the top 500 fell to 140, the lowest since Fortune began the list 1995.

Japan was in second with 68 firms, while France and Germany narrowly edged out China with 40 and 39 firms respectively. Seven of the top ten were oil firms and only one was an automobile company.

Indian oil up in ‘Global 500’ list

NEW DELHI: Indian Oil has moved up 11 places, from 116 to 105, in the Fortune list of world’s largest companies by sales. The navratna PSU is followed by Tata Steel (258), Reliance Industries (264), Bharat Petroleum (289), Hindustan Petroleum (311), State Bank of Indian (363) and Oil & Natuaral Gas Corporation (402). ENS