SURGUTNEFTEGAZ: CASH $28B
REUTERS. The cash reserves of Russia's third-largest crude oil producer Surgutneftegas jumped by 17 percent to more than 1 trillion roubles ($28 billion) in 2013, company data and Reuters calculations showed on Monday.
Analysts believe the company, based in West Siberian city of Surgut, has built up its cash pile to safeguard against a possible hostile takeover. The company has never commented on the reasons for its large cash reserves.
The deposits earned just 3 percent interest last year, leading some analysts to question whether it would…
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