BUENOS AIRES: Argentina’s state-run oil-and-gas exploration company (YPF) reported a 50% increase in second quarter net income that was below forecasts.
YPF’s total hydrocarbon production increased by 2.6% year over year. Natural gas production was 2.3% higher than the second quarter of 2014, while crude oil production increased by 3.7%, the company said. The company has been somewhat immune to the drop in oil prices because the government-controlled Argentina price is near $78 per barrel. The international Brent price has dropped below $50 per barrel.
