MercoPress. South Atlantic News Agency
YPF profits up, but no new joint-ventures in sight to develop Patagonia shale
Argentina's state-managed energy firm YPF posted a second quarter net income of 2.297 billion pesos ($252.8 million) on Wednesday, a 50.5% increase on the same period last year. YPF earnings have been cushioned from the collapse of international oil prices by a government-controlled price for oil produced in the country, which sits at about $78 dollars per barrel. Read full article
Comments
Disclaimer & comment rulesDid they use INDEC to calculate their profit?
Aug 07th, 2015 - 11:54 am - Link - Report abuse 0No oil company will touch Argentina until the K's have gone.
No partners? huh. Called this outcome a couple of years ago.
Aug 07th, 2015 - 12:47 pm - Link - Report abuse 0Plus as soon as the bought YPF they rsised yhe pump price significantly.
Aug 07th, 2015 - 12:52 pm - Link - Report abuse 0They over paid and stuck the stupid rgs with a dog.
Typical.
Yep, only a rotting roadkillian could enjoy consuming the garbage that the K's are presenting as fact.
Aug 07th, 2015 - 01:40 pm - Link - Report abuse 0Note that you won't see the GAAP moniker applied to this report. And only the rotting roadkillians are so foolish as to believe that even a junior analyst can't correct for the obvious market distortion in calculating a true valuation for the equity.
With a 40% plus inflation, it is very easy to show numbers in pesos that they can claim to be growth. The article even admits that they are selling the oil to themselves at inflated prices, just to keep the business afloat. But it is paid for with printed pesos, no real value.
Aug 07th, 2015 - 03:18 pm - Link - Report abuse 0This is one of many examples of how they are undermining their own economy. The more they pump pesos into unprofitable businesses, the more the peso value will have to collapse eventually, since otherwise they won't be able to export anything.
Once the peso implodes, it will devastate every corner of their economy.
YPF profits up--by 50 per cent over the same period last year!
Aug 07th, 2015 - 05:52 pm - Link - Report abuse 0This shows positive results of a controversial decision by the CFK government to recover the company, traditionally a state company but sold off in the 1990s during a rash of privatization of key assets by the Menem administration.
But it does not matter. Some MP readers will not even read the whole story in their haste to begin filling space with their usual rants.
Must be fake results...it will collapse eventually...etc. etc.
”Plus as soon as the bought YPF they rsised yhe pump price significantly (sic),” writes yankeeboy, always at work.
Five posts dismissing the good news story they just read! Who can do better than MP readers?
@ 6 Kiki Mashed Potato Head
Aug 07th, 2015 - 07:31 pm - Link - Report abuse 0Pray tell how can the profit be up 50% when you discount the oil price (claimed at U$D 78 per barrel) down to U$D 50 or less?
Stupid Canuck Argie.
Vile propagandist.
Aug 07th, 2015 - 11:07 pm - Link - Report abuse 0You're sickening.
“government controlled prices ”
Aug 08th, 2015 - 01:09 am - Link - Report abuse 0Hey, that always works out well. Check out Venezuela. Thousands of private businesses have closed.
The economy is a basket case.
I got out when the government told me they would expropriate my business unless I sold my products / produce at below wholesale prices.
I had to lay off workers that I was paying at above the going rate!
Now Argentina is doing this on a grand scale.
Oil at $78 a barrel! No one else is paying that.
Idiotas!
We are still making a fortune with our oilfield service business in Neuquen thanks to this government unlike the catastrophe and bankruptcies in the Texas. I told you all before that Argentina was the place to invest and its proven to be the case over last 5 years including this last one with collapse on oil price.
Aug 14th, 2015 - 05:11 pm - Link - Report abuse 0Commenting for this story is now closed.
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