YPF sees steeper drop in 2018 output

摘要

Buenos Aires-Argentinian state-run YPF said Monday its 2018 hydrocarbon production likely will fall by 3% to 4% on year, more than previously expected, as it shifts focus from natural gas to Vaca Muerta shale oil. The company had set a target of a 2% yearon- year decline in 2018 production, but lowerthan- expected demand for gas forced it to change its forecast, said Sergio Giorgi, vice president of strategy, business development and investor relations. "The final value will depend on the demand for gas during the fourth quarter of this year," he said on an third-quarter earnings conference call.