Argentine state-controlled company YPF has reported a drop in hydrocarbons production, the first after three consecutive quarterly growths, despite a significant rise in unconventional production from the Vaca Muerta shale formation.

YPF also said net profits declined 54% to $247 million in the fourth quarter of 2021, compared to $539 million in the same period a year ago, hurt by high international crude prices that could not be fully passed on to domestic consumers. Net revenues jumped 59.5% to $3.6