en.Wedoany.com Reported - On August 11, Argentina's national oil company (YPF) raised its 2026 investment plan to $5.8–6.2 billion during its second-quarter earnings call, up from the previously stated $5.5–5.8 billion. The company also increased its full-year adjusted EBITDA forecast from approximately $6 billion to about $8 billion.

YPF completed capital expenditures of $1.34 billion in the second quarter, up 37% quarter-over-quarter and 16% year-over-year; first-half capital expenditures totaled $2.321 billion, down 2% year-over-year. Approximately 77% of second-quarter capital expenditures were directed to unconventional oil and gas operations, and the company plans to accelerate shale oil-related investments in the second half of the year.

Upstream capital expenditures in the second quarter reached $1.066 billion, with over 95% allocated to unconventional oil and gas blocks, primarily covering drilling, workover, and concession signing fees for five unconventional blocks under the Argentina LNG project. Some funds were also used for the construction of production facilities in the La Angostura Sur and La Angostura Norte blocks.

In the second quarter, YPF's average shale oil production reached 212,700 barrels per day, up 47% year-over-year, accounting for 80% of the company's total crude oil production. The company maintained its 2026 target of 215,000 barrels per day of average shale oil production and plans to raise daily production to approximately 250,000 barrels by year-end. During the same period, YPF's refinery crude processing averaged 350,800 barrels per day, up 16% year-over-year, with refinery utilization rising to 104%.

In terms of operating data, YPF reported second-quarter revenue of $6.574 billion, adjusted EBITDA of $2.804 billion, and net income of $1.205 billion; net income in the same period last year was $58 million. Increased shale oil production, higher refinery throughput, and rising international oil prices were the main drivers of the quarter's operating performance growth.

YPF is simultaneously advancing shale oil production and export infrastructure construction. As of July 2026, the Vaca Muerta Sur pipeline connecting Allen in Neuquén Province to Punta Colorada in Río Negro Province was approximately 80% complete, with plans to achieve operational readiness by the end of the fourth quarter of 2026 and deliver the first crude oil shipments in early 2027. The company also plans to make a final investment decision on the Argentina LNG project in the fourth quarter of 2026.