YPF presented its shareholders and investors with the financial results for the 2024 fiscal year, a year in which the company established itself as the main producer and exporter of crude oil from Vaca Muerta.
In a scenario of strong growth in unconventional production, the state oil company closed the year with a net profit of USD 2.393 billion, reversing the loss of USD 1.277 billion recorded in 2023, under the Kirchnerist government of Alberto Fernández. Additionally, it achieved an operating result of USD 4.654 billion, representing a 15% increase compared to the previous year.
According to the company, this improvement in its accounts was mainly achieved due to the increase in fuel prices in the domestic market, as well as the rise in revenues from crude oil exports and the expansion of its shale operations in the Neuquén Basin, in line with its strategy to focus on this segment.
YPF detailed that during 2024 it allocated USD 5.041 billion in investments, of which more than 63% were directed to development projects in Vaca Muerta, reaffirming its commitment to shale oil growth.
In operational terms, the oil company reached an average daily production of unconventional oil of 122,000 barrels, with a peak of 138,000 barrels per day in the last quarter. This performance represented a 26% year-on-year increase and consolidated the company as the largest producer of unconventional oil in Argentina.
In the field of exports, YPF also experienced a notable advance. Crude shipments, mainly destined for Chile, averaged 35,000 barrels per day, which implied a 174% growth compared to 2023. This way, the company reinforces its export profile, a key aspect of its financial strategy and positioning in the international market.
The year 2024
The positive balance of 2024 is essentially due to three factors: the increase in fuel prices in the domestic market, the rise in exported volumes, and the expansion of shale oil production.
