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|Traded as||: YPFD
|Industry||Petroleum and natural gas|
Macacha Güemes 515
Buenos Aires, Argentina
|Ricardo Darre (CEO)
Miguel Gutierrez (president)
|Revenue||US$17.5 billion (2014)|
|Profit||US$2.7 billion (2014)|
|Total assets||US$24.4 billion (12/2014)|
Number of employees
YPF, the initials of Yacimientos Petrolíferos Fiscales ; English: "Fiscal Oilfields ", is a vertically integrated Argentine energy company, engaged in the exploration and production of oil and gas, and the transportation, refining, and marketing of gas and petroleum products.
Founded in 1922 under President Hipólito Yrigoyen's administration, YPF was the first oil company established as a state enterprise outside of the Soviet Union, and the first state oil company to become vertically integrated.
Its founder and first director was Enrique Mosconi, who advocated economic independence and starting in 1928, nationalization of oil supplies; the latter, however, was never achieved due to a 1930 military coup backed, among others, by foreign oil trusts against Yrigoyen. YPF was privatized in 1993 and bought by the Spanish firm Repsol S.A. in 1999; the resulting merger produced 'Repsol YPF'. The renationalization of 51% of the firm was initiated in 2012 by President Cristina Fernández de Kirchner. The government of Argentina eventually agreed to pay $5 billion compensation to Repsol.
The company, specializing in the exploration, production, refining and commercialisation of petroleum, had its origin in 1907, when oil was discovered near the city of Comodoro Rivadavia in Chubut. Following World War I, oil had become an important resource, leading to struggles between rival powers to gain control of it.
YPF was created by President Hipólito Yrigoyen and General Enrique Mosconi on 3 June 1922. It was the first entirely state-run oil company in the world, the second being the French Compagnie française des pétroles (CFP, French Company of Petroleum), created in 1924 by the conservative Prime Minister Raymond Poincaré. YPF's creation was followed by the creation of ANCAP in Uruguay (1931), YPFB in Bolivia (1936), Pemex in Mexico (1938), ENAP in Chile (1950), and Petrobras in Brazil (1953). Mosconi served as YPF's first director.
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