The president of YPF, Pablo González, assured that “today YPF has the lowest price in the region in fuels and has increased less than inflation”, when expounding on “YPF, central axes of management” at the National University of La Silver (UNLP).
Within the framework of the Energy Congress 2022 that takes place in the Faculty of Engineering, the former deputy governor of San Cruz reviewed his management at the head of the company and the state in which he found it when assuming the presidency.
“I took over as head of the board of directors of a company that was on the verge of default, which came with falling numbers, with a drop in production and with low esteem”Gonzalez noted.
The head of the state oil company added: “Before this period we witnessed depredation as a result of a state policy that did not have YPF as its central axis, which is proven with numbers.”
“We were able to lower the debt without shrinking, producing more, and without laying off any worker and investing”
Along these lines, he highlighted that between “2015 and 2019 our country had a decline in oil and gas production, because it seems that it was easier to import crude oil than to give people work.”
“We cannot analyze any future without saying where we come from and what happened, otherwise we run the risk of things happening again”he pointed out and added that the previous management “definanced the main company in Argentina, which today invoices US$ 15,000 million.”
In that sense, he pointed out that in recent days it was reported that YPF has “a debt today of 5,655 million dollars” and that it could be lowered by almost 1,800 million because in “2019 it was 7,600 million.”
“Two days ago we reported a quarterly profit of US$ 678 million and the most important thing is that we have the most important balance of organic growth in the last 25 years”Gonzalez highlighted.
According to the manager, “we have been growing 7% in crude oil and 9% in gas this year; the highest jump in production in the last 25 years. Today YPF has the lowest fuel price in the region and has increased less than inflation”.
“We were able to lower the debt without shrinking, producing more, and without laying off any worker and investing,” he said.
González assured that when his administration ends, he will end “with a growth curve that will determine the possibility of starting, advancing, strengthening growth projects.”
“Before this period we witnessed a depredation as a result of a state policy that did not have YPF as its central axis, which is proven with numbers”
González announced that next year YPF will be “self-supplying 100% of the crude oil; after many years we are self-sufficient again” and explained that “of the 30 thousand kilometers that Vaca Muerta has, where to the west there is more gas and to the right there is more oil, only 8% of what can be exploited has been exploited.”
In addition, he announced that the company Petronas (Petroliam Nasional Berhad), a partner of Argentina for seven years, “is now signing an agreement that when the definitive investment is signed, it will have the construction of a gas pipeline equal to the Néstor Kirchner” of 570 kilometers. and with an investment to 2036 of 40 billion dollars and pointed out that “Argentina is close to exporting natural gas and after exporting liquefied natural gas.”
González also reported that they are “advancing to make YPF’s own oil pipeline, which is called Vaca Muerta Sur, which will be an investment of 1.2 billion dollars net that goes from Vaca Muerta to Punta Colorada in the province of Rio Negro”.
He also referred to YPF Lithium and said that they wanted “it to be a relief wheel for the provinces that make up the lithium triangle, that this raw material can be used by the provinces and not only export lithium but also Argentine work.”
