YPF

What YPF does

YPF S.A. is Argentina's state-majority (51% government-owned) vertically integrated energy company, founded in 1922 and listed on the NYSE under ticker YPF. It operates across the full hydrocarbon value chain — upstream exploration and production (with industry-leading positions in the Vaca Muerta shale formation), midstream infrastructure (including the VMOS oil pipeline and LNG export projects), downstream refining (Complejo Industrial La Plata and Luján de Cuyo), and retail fuel distribution through over 1,600 service stations commanding approximately 55% of Argentina's fuel dispatch market. The company also operates a digital ecosystem including the YPF App, YPF Ruta fleet management platform, ServiClub loyalty program, and YPF UNICCO loading dock management system, alongside convenience retail formats (YPF Full, YPF Boxes, YPF Black) and a strategic McDonald's franchise alliance with Arcos Dorados.

YPF's core technology stack centers on unconventional shale development in Vaca Muerta — the world's second-largest gas and fourth-largest oil unconventional resource — using horizontal drilling, advanced hydraulic fracturing (including Halliburton's ZEUS electric fracturing technology), and a proprietary Real Time Intelligence Center for drilling and completions decision-making. Operated-block lifting costs of $4.0/boe place YPF among global cost leaders. The company is pursuing three transformational projects: the $25 billion LLL Oil development targeting 240,000 bbl/d by 2032, the Argentina LNG joint venture with Eni and XRG targeting 12 Mt/y of LNG capacity, and the Southern Energy FLNG consortium — collectively representing over $70 billion in pipeline investment.

YPF generates revenue through multiple streams: retail fuel and lubricant sales across its nationwide service station network (~55% market share), upstream crude oil and natural gas production (total ~640,000 boe/d with growing exports), natural gas distribution via MetroENERGÍA, fleet management subscriptions via YPF Ruta, convenience retail through YPF Full, and emerging LNG/crude export revenue. Record 2025 adjusted EBITDA of $5.0 billion with 27% margins reflects the scale advantage and operational leverage from shale cost reductions (42% YoY). Customers span Argentine mass-market consumers, commercial fleet operators (OCA, SurFrigo, Metropol), industrial gas users, and international LNG buyers (SEFE/Germany, Indian LPG importers). Recent strategic moves include partnerships with Tesla for EV charging infrastructure, Halliburton for next-generation fracturing technology, SLB for workforce development, and TGS/Chevron/Pluspetrol for midstream NGL infrastructure.

Name

YPF

Legal name

YPF S.A.

Website

https://ypf.com

Company type

Public

Founded year

1922

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

YPF is Argentina's state-majority (51% government-owned), vertically integrated energy company and largest fuel retailer (~55% market share), leading unconventional shale oil and gas producer in the Vaca Muerta formation, and a developing LNG exporter targeting global markets by 2027.

Ownership category

akta.pro rank

Product category

Integrated Oil and Gas

NAICS

Pipeline Transportation of Crude Oil (4861), Natural Gas Distribution (22121)

SIC

Crude Petroleum & Natural Gas (1311), Petroleum Refining (2911), Natural Gas Transmisison & Distribution (4923)

akta.pro primary industry

CNG/LNG Refueling for Industrial Fleets (Private Stations, Yard Fueling) (EUALALAK)

Keywords

• Upstream oil production
• Fuel retail distribution
• Lubricant manufacturing
• Fleet management services
• LNG export operations

Headquarters

HQ city

Buenos Aires

HQ country

Argentina

HQ region

Latin America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Fuel Marketing & Downstream: YPF operates over 1,600 service stations across Argentina, selling gasoline, diesel, and CNG, commanding approximately 55% of Argentina's fuel dispatch market. Revenue is generated through retail fuel sales at company-owned and franchised stations, lubricants, and related convenience store operations (YPF Full).
2. Upstream Hydrocarbon Production: YPF produces crude oil and natural gas from conventional and unconventional fields, with shale oil production growing 35% in 2025 to 165,000 bbl/d and total production averaging ~640,000 boe/d. Revenue from domestic sales at international prices and growing export volumes.
3. Gas Distribution (Metrogas / MetroENERGÍA): YPF holds 5% stake in MetroGAS (95% owned by other entities), integrated through MetroENERGÍA, Argentina's largest natural gas commercializer, operating up to 12 million cubic meters daily and supplying CNG to transportation and industrial customers.
4. Convenience Retail & Franchising: YPF Full restaurant format operates convenience food and beverage at service stations; strategic alliance with Arcos Dorados (McDonald's franchise operator) to integrate branded restaurants into the station network, increasing average ticket revenue per location.
5. Lubricants & Specialty Products: YPF markets a full line of lubricants including Elaion (premium), ExtraVida, RÖD (motorcycle), and Azul 32 (urea/AdBlue), distributed through service stations, lubricenters, and direct sales to industrial customers.
6. Digital & Fleet Services: YPF Ruta fleet management platform (YPF Ruta Contado and Crédito) provides fuel card, telemetry, and payment solutions. App YPF offers mobile payments, loyalty (ServiClub), and digital wallet features to consumer and fleet customers.
7. LNG Exports: Through the Argentina LNG project (YPF-led with Eni and XRG) and Southern Energy consortium, YPF is developing LNG export capacity targeting first cargoes by 2027, projected to generate ~$6 billion annually in exports at full capacity.

Pricing tiers

Go-to-market motion1 record

Distribution channels9 records

Marketing channels6 records

Core offering

YPF is a vertically integrated Argentine energy company that explores and produces crude oil and natural gas (notably from the Vaca Muerta shale formation), refines petroleum products at its industrial complexes, and markets gasoline, diesel, CNG, lubricants, and convenience services through a network of over 1,600 service stations across Argentina. The company commands approximately 55% of Argentina's fuel dispatch market and is expanding into LNG exports, fleet management (YPF Ruta), and EV charging infrastructure (Tesla partnership).

Product overview

YPF (Yacimientos Petrolíferos Fiscales) is Argentina's state-majority energy company operating a vertically integrated model across upstream hydrocarbon exploration and production, downstream refining and fuel marketing, and diversified digital service platforms. The product portfolio includes core fuel products (Infinia, Infinia Diesel), lubricant lines (ELAION premium line including ELAION AURO, RÖD motorcycle lubricants, Azul 32 AdBlue), and a network of over 1,600 service stations operating multiple formats including YPF Full restaurants, YPF Boxes automotive service centers, and traditional fuel dispensers. Digital offerings include the YPF App (mobile payment, loyalty, wallet), YPF Ruta fleet management platform, and YPF UNICCO loading dock management system. The company also operates liquefied natural gas projects (Argentina LNG with ENI/XRG, Southern Energy), renewable energy initiatives (Los Teros wind farm, green hydrogen), and blockchain-based energy asset tokenization on the XRP Ledger.

Differentiator

Problem solved

Functional benefit

Brands

• ELAION: Premium lubricant brand with Technology in Constant Evolution (TEC®)
• EXTRAVIDA
• RÖD
• Azul 32
• YPF Full
• YPF Gas
• YPF Ruta
• Boxes

Products and services

• App YPF Mobile application for YPF customers enabling fuel payments with QR code, ServiClub loyalty points management, service station locator, money transfers (Dinero en Cuenta), and digital wallet functionality for individual consumers and fleet customers across Argentina.
• YPF Ruta Fleet management platform offering solutions for commercial fleet operators including fuel management with differential pricing (YPF Ruta Contado and Crédito), telematics, GPS tracking, driver behavior monitoring, online reporting, and centralized invoicing for fleet and logistics companies.
• YPF Full Restaurant and convenience store format at YPF service stations featuring burgers, coffee, pastries, alfajores, and proprietary food products under the Full brand, operating freestanding and integrated store models and integrating with McDonald's franchise locations.
• YPF Boxes Automotive service centers offering vehicle diagnostic checks, oil changes, filter replacements, and lubricant services at over 430 locations nationwide, with appointments available through the YPF App.
• Infinia Premium gasoline brand positioned as a high-performance fuel for internal combustion engines, sold across YPF's 1,600+ service station network in Argentina.
• Infinia Diesel

Quantifiable outcome

• 35% shale oil production growth in 2025 to 165,000 bbl/d; 42% year-on-year reduction in lifting costs to $8.8/boe (Q1 2026)
• +6 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Southern Energy (SESA)coreStrategic or Co-development Partner · 21 June 2026Southern Energy (SESA), PAE-led consortium (YPF, Harbour Energy, Pampa Energía, and others), expanded its LNG export project from one to two vessels, with planned investment of at least $15 billion. Southern Energy signed an 8-year LNG supply agreement with Germany's SEFE for 2Mt/y starting 2027. The project includes Adani Ports acquiring 51% of Meridian Transporte Marítimos for maritime services, and Jumbo/CoreMarine for FLNG installation.
• Harbour EnergycoreStrategic or Co-development Partner · 21 June 2026Harbour Energy joined the Southern Energy (SESA) LNG export consortium alongside PAE, YPF, and Pampa Energía, expanding the project from one to two LNG vessels with at least $15 billion in planned investment for Argentina's Vaca Muerta gas monetization.
• Pampa EnergíacoreStrategic or Co-development Partner · 21 June 2026Pampa Energía joined the Southern Energy (SESA) LNG export consortium alongside PAE, YPF, and Harbour Energy, contributing to the expansion of Argentina's LNG export project from one to two vessels with $15+ billion in planned investment.
• Arcos Dorados (McDonald's)coreStrategic or Co-development Partner · 16 June 2026YPF signed a strategic alliance with Arcos Dorados, the McDonald's franchise operator for Argentina and Latin America, to integrate McDonald's branded restaurants into YPF's network of over 1,700 service stations. The partnership includes three operating formats (freestanding, integrated shared dining, integrated separate flow) and is part of YPF's strategy to transform its network into multi-service consumption hubs. Signed by CEO Horacio Marín and Executive Chairman Woods Staton.
• TeslacoreStrategic or Co-development Partner · 16 June 2026YPF signed a letter of intent with Tesla in the United States, following CEO Horacio Marín's visit to Tesla's Gigafactory in Texas, to explore collaboration on developing a network of fast charging stations for electric vehicles and energy storage infrastructure in Argentina. The agreement combines Tesla's global EV charging expertise with YPF's extensive infrastructure presence. Signed with Michael Snyder, head of Tesla's energy division.
• ChevroncoreStrategic or Co-development Partner · 12 June 2026Chevron Corporation partnered with YPF and Pluspetrol to sign contracts with TGS SA for a $3 billion natural gas liquids project in Argentina's Vaca Muerta shale basin. The three companies will take up approximately 80% of the project's capacity, significantly increasing the likelihood of final investment decision. Chevron has also applied to Argentina's RIGI for a separate $13.8 billion oil drilling venture in the El Trapial area.
• PluspetrolcoreStrategic or Co-development Partner · 10 June 2026Pluspetrol partnered with YPF and Chevron to supply approximately 80% of TGS SA's $3 billion natural gas liquids project capacity in the Vaca Muerta basin, contributing to the final investment decision for this critical midstream infrastructure project.
• TGS (Transportadora de Gas del Sur)coreStrategic or Co-development Partner · 10 June 2026YPF, Chevron, and Pluspetrol signed contracts with TGS SA for its $3 billion natural gas liquids project in the Vaca Muerta basin, with the three producers providing approximately 80% of the project's processing capacity. The project converts associated natural gas into exportable liquids like butane and propane, crucial for avoiding infrastructure bottlenecks.
• HalliburtoncoreTechnology or Integration · 9 May 2026YPF awarded Halliburton a multibillion-dollar, multi-year contract to provide bundled unconventional completions services in Argentina's Vaca Muerta shale formation. This is Halliburton's first international deployment of its ZEUS electric fracturing technology along with OCTIV Auto Frac digital fracturing services, establishing a new benchmark for international unconventional fracturing. The multi-year deal provides Halliburton with predictable long-term revenue while supporting YPF's shale growth targets of 200,000+ bbl/d.
• Jumbo Offshore and CoreMarinecoreImplementation/ SI/ Consulting Partner · 13 April 2026Jumbo Offshore and CoreMarine were awarded a contract by Southern Energy S.A. for the transport, installation, and hook-up of soft-yoke mooring systems for two FLNG vessels in Argentina's Golfo San Matías. The project, supported by a consortium of Pan American Energy, YPF, Pampa Energía, Harbour Energy, and Golar LNG, represents a major milestone for Argentina's gas sector and the first application of SSY technology in Argentine waters. FLNG Hilli Episeyo scheduled for installation in 2027, MKII FLNG in 2028.
• SLBcoreTechnology or Integration · 17 March 2026SLB and YPF signed an agreement for SLB to join the Instituto Vaca Muerta, a public-private workforce development initiative aimed at developing technical skills for unconventional oil and gas operations in Argentina. The initiative trains thousands of technicians annually with industry-aligned curricula and advanced simulation infrastructure, addressing a critical human capital bottleneck in the shale industry.
• EnicoreStrategic or Co-development Partner · 27 February 2026YPF, Eni, and XRG signed a Binding Joint Development Agreement to collaborate on the Argentina LNG development, targeting the transport and liquefaction of shale gas from the Vaca Muerta basin for export. The partnership is entering the Front-End Engineering Design (FEED) phase with target capacity of 12 million tonnes per annum using two floating LNG units, aiming for final investment decision in H2 2026.
• XRG (ADQ subsidiary)coreStrategic or Co-development Partner · 27 February 2026XRG, Abu Dhabi's international investment arm (subsidiary of ADQ), joined YPF and Eni in the Argentina LNG project as a financial and strategic partner, strengthening the project's financial and technical capabilities. XRG's inclusion positions the project as a potentially major global LNG opportunity for Argentina, targeting 12Mt/y capacity.
• Santander ArgentinacoreStrategic or Co-development Partner · 18 February 2026Santander Argentina and YPF sealed a strategic alliance to integrate financial services into the YPF app platform, enabling financial products and services for YPF's large customer base through the digital app ecosystem.
• Hidrocarburos del Norte S.A. (Refinor seller)minorStrategic or Co-development Partner · 29 October 2025YPF acquired the remaining 50% shares of Refinoría del Norte S.A. (Refinor) from Hidrocarburos del Norte S.A. for $25.2 million, completing full ownership. Refinor is a fuel and gas transportation and marketing company operating in northern Argentina, enhancing YPF's logistics and fuel supply network across seven northern provinces.

Scale indicators25 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• Petrobras: Brazil's state-controlled integrated oil and gas company. Closest direct peer to YPF: both are Latin American state-majority integrated O&G majors with large upstream production, refining capacity, fuel retail networks, and LNG/export ambitions. Comparable in vertical integration, political ownership dynamics, and exposure to single-country commodity cycles.
• Ecopetrol: Colombia's state-majority integrated oil and gas company. Direct peer: similar Latin American integrated O&G profile with upstream production, refining (Reficar), and fuel retail. Comparable in government ownership dynamics and exposure to a single hydrocarbon-producing country's political and regulatory environment.
• Vista Energy: Argentina-focused Vaca Muerta shale operator. Direct peer in the same basin, with comparable unconventional oil production economics and cost leadership ambitions. Smaller scale but most directly comparable on production economics, lifting costs, and Argentine regulatory exposure.
• Pan American Energy (PAE): Major Argentine E&P operator and partner with YPF in the Southern Energy LNG consortium. Directly comparable as a Vaca Muerta-focused producer and a key counterparty in YPF's midstream/export build-out, sharing the same Argentine regulatory and infrastructure environment.
• Pemex: Mexico's state-owned integrated oil and gas company. Comparable as a state-controlled integrated O&G major in Latin America, with similar political/regulatory ownership dynamics, large refining footprint, and structural debt challenges tied to government fiscal priorities.

Regional players

• Pampa Energía: Argentina's largest integrated electricity and gas company and partner in Southern Energy LNG. Comparable as a vertically integrated Argentine energy major overlapping with YPF on gas commercialization, power generation, and LNG export consortium membership.

Emerging players

• Eni: Italian integrated O&G major and YPF's partner in the Argentina LNG project. Comparable as an LNG-focused integrated player and a strategic partner in unconventional gas development; provides a relevant benchmark for capital project scale, LNG export economics, and consortium structuring.

Broad incumbents

• Chevron: Global integrated O&G supermajor and YPF partner in TGS NGL and El Trapial RIGI projects. Comparable as a Vaca Muerta operator with unconventional oil/gas expertise; relevant peer for unconventional production economics, LNG/NGL offtake, and consortium capital deployment in Latin America.
• Shell: Global integrated O&G supermajor with major LNG portfolio. Comparable as a benchmark for vertically integrated O&G economics, LNG trading capacity, and global retail/fleet/lubricants operations at scale - directly relevant for evaluating YPF's export and downstream ambitions.

Others

• Halliburton: Global oilfield services leader and YPF's core completions partner for Vaca Muerta (ZEUS electric fracturing technology). Comparable as a strategic partner and enabler for YPF's shale growth trajectory; relevant peer for unconventional service economics and well-cost benchmarking.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ypfoficial
• YouTubeyoutube.com/ypfoficial
• Facebookfacebook.com/YPFoficial
• LinkedInlinkedin.com/company/321888
• Instagraminstagram.com/ypfoficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds5 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about YPF