Argentine energy giant YPF sees Q4 profit jump on gas, crude output

  • 12/1/2021
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AZUL, Argentina, Dec 1 (Reuters) - Argentine state energy giant YPF (YPFD.BA) expects robust profits in the fourth quarter of the year driven by rising gas production and crude output, the company"s President Pablo González told Reuters on Wednesday. The firm, which spearheads development of the country"s huge Vaca Muerta shale formation, has seen production levels and sales recover strongly this year after a major hit from the COVID-19 pandemic in 2020."We are going to have a profit higher than in the previous quarter," González said in an interview at a wind farm facility in Buenos Aires province. The firm recorded a $237 million net profit in the third quarter. "There a little more because gas production grew. The sale of fuels is almost pre-pandemic levels. Plus the higher production of crude oil," he added. "The fact we are showing a recovery of this type this year, I think it"s good."

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