YPF plans to sell units in Brazil and Chile

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YPF plans to sell units

YPF plans to sell units in Brazil and Chile

The head of Argentina’s oil major said recently that YPF plans to sell its businesses in Brazil and Chile, both focused on lubricants, as part of an effort to dispose of underperforming assets.

Speaking at an energy sector forum in Buenos Aires earlier this month, CEO and president Horacio Marin said that YPF intends to sell these units and will try to divest its majority stake in local energy company Metrogas in order to focus on more profitable operations, according to local reports.

The Brazilian subsidiary operates a lubricant blending plant in São Paulo with a capacity to produce 47,000 tons a year, according to the company’s website. Marin said it employs 300 people and earns approximately US$1 million annually, Argentine news site DF Sud reported.

The Chilean subsidiary sells fuels, natural gas and aviation fuel, but also focuses on lubricants and operates a blending plant in the country, Marin said. He described both units as small and not essential for YPF.

Story published by Lubes & Greases at https://www.lubesngreases.com/lubereport-americas/9_22/ypf-to-sell-lubes-units-in-brazil-chile/