Profile: YPF SA (YPF.N)
24 Jun 2016
YPF Sociedad Anonima, incorporated on June 2, 1977, is an energy company. The Company is operating a fully integrated oil and gas chain. The Company has two segments: Exploration and Production and Downstream. The Company's Exploration and Production segment includes exploration and production activities, natural gas and crude oil purchases, sales of natural gas and crude oil to third parties and intersegment sales of crude oil, natural gas and its byproducts. The Company's Downstream segment includes the refining, transport, purchase of crude oil and natural gas to third parties and intersegment sales and marketing of crude oil, natural gas, refined products, petrochemicals, electric power generation and natural gas distribution.
Exploration and Production
The Company's portfolio includes more than 1,400 projects to develop proved, probable and possible reserves, in addition to contingent and prospective resources related to future developments and exploration activity. The Company's exploratory and development activities in Argentina are focused on: onshore, which includes unconventional activities and conventional activities, and offshore, which includes three offshore blocks (E1 block: 35%, E2 block: 33% and E3 block: 30%) with a total acreage of 23,700 square kilometers. The Company's development activities in Argentina are focused on Neuquen YPF Concession, Mendoza Norte YPF Concession, Mendoza Sur YPF Concession, Chubut, Santa Cruz and Tierra del Fuego. As of December 31, 2014, the Company had mineral rights in 20 blocks in the United States territorial waters in the Gulf of Mexico, consisted of 17 exploratory blocks, with a gross surface area of 396 square kilometers, and three development blocks, with a gross surface area of 69.93 square kilometers. As of December 31, 2014, the Company had interests in more than 110 oil and gas fields in Argentina, proved reserves of approximately 674 million barrels of oil, including condensates and natural gas liquids (NGLs), and approximately 3,016 billion cubic feet (bcf) of gas.
The Company's Downstream segment is organized into four divisions: refining and logistic division, marketing division, LPG general division and chemicals division. The Company owns and operates three refineries in Argentina: La Plata refinery, located in the province of Buenos Aires; Lujan de Cuyo refinery, located in the province of Mendoza, and Plaza Huincul refinery, located in the province of Neuquen. The La Plata refinery has a nominal capacity of 189,000 barrels per day. The Lujan de Cuyo refinery has a nominal capacity of 105,500 barrels per day. The Plaza Huincul refinery has an installed capacity of 25,000 barrels per day. The Company's three wholly owned refineries have an aggregate refining capacity of approximately 319,500 barrels per day. The Company has a network of five pipelines. The crude oil transportation network includes approximately 2,700 kilometers of crude oil pipelines with approximately 640,000 barrels of aggregate daily transportation capacity of refined products. The Company has total crude oil tankage of approximately seven million barrels and maintains terminal facilities at five Argentine ports. The Company owns two crude oil pipelines in Argentina. One connects Puesto Hernandez to the Lujan de Cuyo refinery (528 kilometers) and the other connects Puerto Rosales to the La Plata refinery (585 kilometers) and extends to Shell's refinery in Dock Sud at the Buenos Aires port (another 52 kilometers). The Company also owns a plant for the storage and distribution of crude oil in the northern province of Formosa with an operating capacity of 19,000 cubic meters and two tanks in the city of Berisso, in the province of Buenos Aires, with 60,000 cubic meters of capacity. In Argentina, the Company also operates a network of multiple pipelines for the transportation of refined products with a total length of 1,801 kilometers. The Company also owns 17 plants for the storage and distribution of refined products and seven liquid petroleum gas (LPG) plants with an approximate aggregate capacity of 1,620,000 cubic meters. The Company operates 53 airplane refueling facilities (40 of them are wholly owned) with a capacity of 22,500 million cubic meter and also own 28 trucks, 123 manual fuel dispensers and 17 automatic fuel dispensers. The Company's trading division sells refined products and crude oil to international customers and crude oil to domestic oil companies.
The Company's marketing division sells gasoline, diesel fuel, LPG and other petroleum products. The Company supplies all of the fuel market segments: retail, agriculture and industry, including transport. As of December 31, 2014, the retail division's sales network in Argentina included 1,534 retail service stations, of which 111 are directly owned by it and the remaining 1,423 are affiliated service stations. The Company's agriculture division sells diesel fuel, fertilizers, lubricants, agrochemicals and ensiling bags (silobolsa), among other products, offering a portfolio to the agriculture producer that includes delivering products to the consumption site. The Company's Industry division supplies products, such as fuels (diesel, gasoline, fuel oil, Jet A-1), lubricants, coal, asphalts, paraffin and derivatives (sulfur, carbon dioxide, decanted oil, aromatic extract). The Company's LPG division sells LPG to the foreign market, the domestic wholesale market and to distributors that supply the domestic retail market. The Company's chemicals division produces petrochemicals. The Company also participates in the fertilizer business.
The Company competes with Axion, Shell and Petrobras.
Avenida Pte R Saenz 777-8 Piso
BUENOS AIRES C1106BKK