YPF, which closed out its first full year since re-nationalisation in 2012, posted a 1.7% production gain and booked an increase in reserves of more than 10%, it said on Friday.

For 2014 YPF plans capital spending of $5.5 billion, $4.5 billion of which will go towards upstream operations with the aim of growing oil and gas output by 3% and 6%, respectively.

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