Aug 10 (Reuters) – Argentina’s state oil firm YPF on Monday reported a net profit of $1.21 billion in the second quarter of 2026, compared with $58 million seen a year earlier, citing higher shale production, record processing levels and a hike in international prices.
The state-run producer’s revenues reached $6.57 billion during the April-to-June period, up 42% from a year earlier, and above the $6.10 billion predicted by LSEG.
Adjusted quarterly earnings before interest, taxes, depreciation, and amortization (EBITDA), hit $2.80 billion, up 149% from the year before. The company called it the highest adjusted EBITDA in YPF’s history.
YPF’s performance is a critical indicator for Argentina’s economy, which relies on the company’s Vaca Muerta operations to boost energy exports, helping Argentina strengthen dollar reserves, maintain a stable currency and bolster investor confidence.
Shale oil production rose 47% year-on-year to average 213,000 barrels per day. The company said it is aiming to reach 250,000 barrels per day by year-end.
YPF’s total crude oil production reached 266,000 barrels per day, yet natural gas production shrank 6% compared to a year prior.
The results come as YPF pushes ahead with an ambitious expansion plan for Vaca Muerta — the world’s second-largest unconventional gas reserve and fourth-largest oil reserve. Boosting production at the formation is a cornerstone of President Javier Milei’s economic strategy, which seeks to boost Argentina’s financial stability through increased energy exports.
Brazil Energy Insight 
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