Russia’s fourth-largest crude oil producer, Surgutneftegas, posted a 30% increase in net profits in the first half of 2012. The secretive company’s infamous cash pile — often touted as a war chest but rarely touched — also rose. Surgutneftegas, which only reports results under Russian accounting standards (RAS), saw net profits rise to 101.45 billion rubles ($3.1 billion) in the first half of the year, compared with 77.78 billion rubles in the same period last year, according to the company’s mid-year report.
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