[1/2] The headquarters of Argentina's state energy company YPF is seen in Buenos Aires, Argentina February 10, 2021.
REUTERS/Matias Baglietto Acquire Licensing RightsCompanies Ypf Sa FollowNov 8 (Reuters) - Argentina's national oil company YPF swung to a loss in the third-quarter, amid lower local oil prices and higher operating costs, the company said in a statement on Wednesday.
Net loss in the period hit $137 million, from a $693 million profit the previous year.
The state-run producer's revenue decreased 15.9% to $4.5 billion during the July-to-September period, it said, citing "a drop in local fuel prices in dollars."
The results come despite the steady uptick in oil and gas production in recent years from western Argentina's massive Vaca Muerta shale formation, one of the biggest in the world.
Persons:
Matias Baglietto, YPF, Isabel Woodford, Valentine Hilaire
Organizations:
REUTERS, Thomson
Locations:
Buenos Aires, Argentina