Argentina’s State Oil Company YPF Sees Major Jump In Profits ...Middle East

Argentine state oil company YPF last week reported that its net profit for the third quarter leapt 186 percent year-on-year to $678 million, Reuters reported.The company said rising levels of production and higher oil prices drove profits. YPF’s revenue rose to $5.18 billion in the quarter, a 43 percent increase as compared to the same period last year. The company said its revenue grew due to higher prices for gasoil and natural gas in addition to higher produc­tion levels of natural gas, diesel and jet fuel, Reuters reported. YPF said…

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