YPF SA, Argentina’s state-run oil producer, posted second-quarter earnings that exceeded expectations as it increased output and sold crude at a premium to international prices.
Net income rose to 2.3 billion pesos ($250 million) from 1.5 billion pesos a year earlier, Buenos Aires-based YPF said in a statement Wednesday. Per-share profit of 5.86 pesos, excluding some items, beat the 5.36-peso average of five analysts’ estimates compiled by Bloomberg.
While major oil companies from Exxon Mobil Corp. to Chevron Corp. hunker down for a prolonged market rout, YPF has kept up spending as it increases crude and natural gas output. The producer that was nationalized in 2012 is benefiting from government-set prices that are higher than Brent, the international benchmark.
Brazil Energy Insight 
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