- YPF (YPF +1.7%) posted Q2 earnings that beat expectations, rising to 2.3B pesos ($250M) from 1.5B pesos in the year-ago quarter, as it increased production and sold crude at a premium to international prices.
- YPF has been somewhat cushioned from the collapse in oil prices because the government-controlled Argentina price is near $78/bbl, while the international Brent benchmark has dropped below $50.
- Q2 EBITDA jumped 13.3% Y/Y to 12.4B pesos, total sales rose 12% to 39.6B pesos, and downstream sales increased 6.6% to 35.3B pesos.
- YPF’s Q2 total hydrocarbon production rose 2.6% Y/Y, with natural gas output higher by 2.3% higher and crude oil increasing by 3.7%