MOSCOW: The cash holdings of Russian oil major Surgutneftegaz rose to more than 6 trillion roubles ($65 billion) in the third quarter, Moscow-based BCS brokerage said on Monday.
The company, based in the western Siberian city of Surgut, has been beefing up its cash pile to safeguard against a possible hostile takeover, analysts have said.
The cash reserves are formed of banking deposits, cash and other financial instruments.
The company also reported on Monday that it earned 1.436 trillion roubles in nine-month profit under Russian accounting standards, which typically do not take into account data from subsidiaries.
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