YPF sold its lubricants business in Brazil to allocate its investments to Vaca Muerta

The oil company YPF sold 100% of its lubricants business in Brazil (YPF Brasil Comércio de Derivados de Petróleo LTDA) to the company Usiquimica do Brasil which has more than 80 years of experience in the production and sales of chemical products.

The idea of management of the company is get rid of all its unprofitable assets to concentrate exclusively on what gives it high profit margins: the shale oil y gas of Vaca Muerta.

YPF Brasil was established as a company in 1998 and since 2015 it has had its own lubricants plant, with a production capacity of 48,000 cubic meters per year and a market share –market share– 2%.

“This sales agreement includes the terms and conditions for the execution of a license agreement for the use of YPF lubricant brands, so the presence of YPF products in said country will be maintained,” company sources commented. , that They did not indicate the price of the operation.

The sale of YPF Brazil occurs as one of the steps of the 4×4 Plan drawn up by its president and CEO, Horacio Marinto multiply the value of the firm’s share by 4 in 4 years.

“This decision is part of the continuous portfolio review process, with the aim of achieving greater focus and profitability,” YPF explained in a statement. This year the oil company already divested itself of conventional oil and gas assets in what was called “Project Andes.”

The Chilean business is also for sale and private interest in the gas distributor Metrogas will be evaluated.

“Likewise, and with the aim of strengthening its position in the field of new energies, the company’s board of directors has decided to create a new vice presidency that will focus on the development of a strategic plan for the next decade. In this new approach, companies such as YPF Luz, Mega and Profertil will play a fundamental role in the future energy transition,” commented the oil company based in Puerto Madero.