YPF Sociedad Anonima YPF

What this company does

YPF Sociedad Anonima is involved in the entire oil and gas value chain, including the production, refining, commercialization, and distribution of hydrocarbons. As of December 31, 2025, it held interests in 78 oil and gas fields in Argentina. It holds more than 50% of the country's total refining capacity through its 3 wholly-owned refineries, located at La Plata, Lujan de Cuyo and Plaza Huincul, which have an aggregate refining capacity of 123.4 Mbbl (338.0 kbbl/d). As of December 31, 2025, it conducted its business through four segments: Upstream, Midstream and Downstream, LNG and Integrated Gas, and New Energies. Its Upstream business segment performs all activities related to the exploration and exploitation of hydrocarbon fields and the production of crude oil and natural gas. Its Midstream and Downstream business segment performs activities related to the refining, transportation and commercialization of refined products, the production, transportation and commercialization of petrochemical products, the transportation and commercialization of crude oil, and the commercialization of specialties for the agribusiness industry and of grains and their by-products. Its LNG and Integrated Gas business segment performs activities related to natural gas transportation and commercialization, the separation, fractionation, storage and transportation of NGLs through its joint venture Compania Mega S.A., and the development of LNG liquefaction capacity. Its New Energies business segment performs activities related to the definition and development of the new energy portfolio, the development of sustainability and energy transition programs, the distribution of natural gas through its subsidiary Metrogas, and research and development services of technology applied to the hydrocarbon industry through its subsidiary Y-TEC.

Written from the business description in YPF Sociedad Anonima's annual report to the U.S. Securities and Exchange Commission, filed 26 March 2026. Every sentence was checked against that document before publication.