YPF Prioritizing Cash Over Growth

摘要

Argentina’s YPF said Tuesday that it plans to curb production by 10%-12%, with management adding that it is in the process of “identifying significant [operational and capital expenditure] reduction opportunities as it focuses more on cash preservation than growth." The state firm reported mixed results from the first quarter of 2020, citing lower demand and commodity prices amid the Covid-19 lockdown (OD May4’20).