June 8 (Reuters) - Cash reserves held by Russian oil major Surgutneftegaz exceeded 4.1 trillion roubles in 2021, up from 3.6 trillion in 2020, according to Reuters calculations based on company figures published on Wednesday.

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, which are vulnerable to the rouble exchange rate.

The company's net income under Russian accounting standards fell by around 30% to 513.22 billion roubles in 2021, it said.

(Reporting by Reuters; Editing by Kirsten Donovan)