YPF SA is an Argentina-based integrated oil and gas company. The Company upstream operations consist of the exploration, development and production of crude oil, natural gas and liquefied petroleum gas (LPG). Its downstream operations include the refining, marketing, transportation and distribution of oil and a wide range of petroleum products, petroleum derivatives, petrochemicals, LPG and bio-fuels. Additionally, it is active in the gas separation and natural gas distribution sectors both directly and through investments in several affiliated companies. In addition, Repsol YPF SA was the Company�s majority shareholder with 57.43% of total share capital.