Russia's Surgut Cash Reserves Down 14% To 2.08T Rbls In 2016



Reuters

MOSCOW, March 31 (Reuters) - Cash reserves of Russia's third-largest oil producer Surgutneftegaz declined by 14 percent to 2.08 trillion roubles ($37.1 billion) in rouble terms in 2016, according to Reuters calculations based on company's regulatory filing.

In U.S. dollar terms, the reserves were up from $35.8 billion in 2015 thanks to a strengthened rouble.

The company also said on Friday it swung to a net loss under Russian Accounting Standards of 104.8 billion roubles in 2016 from a net income of 751.4 billion roubles in 2015.

(Reporting by Vladimir Soldatkin; editing by Polina Devitt)



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