Argentina’s YPF refineries running at higher rates to meet higher fuel demand
Argentina’s state oil company YPF said it has increased the running rate of its refineries to meet increased fuel demand, according to a report republished in late May at the website of the Argentina fuel retail organization Cecha which identified it as originally sourced from the website of local media Cronista.
Fuel sales rose nearly 8% during the first three months of this year compared with a year earlier, according to the report.
To meet that demand the company increased its refineries running rates to 94% of full capacity, about 9% more than a year earlier, it added.
However, the greater production did not prevent the company from posting a 26% decline in earnings, according to the report. The decline in earnings is a consequence of crude oil price volatility, the company has said, as reported by Cecha and Cronista.
