YPF SA engages in the exploration, production, and distribution of oil and gas. The company is headquartered in Buenos Aires, Buenos Aires. The firm is operating a fully integrated oil and gas chain. The firm operates through the segments, including Exploration and Production, Downstream, and Corporate and Other. The firm's Exploration and Production segment includes exploration and production activities, natural gas and crude oil purchases, sales of natural gas, and to a lesser extent crude oil, to third parties and intersegment sales of crude oil, natural gas and its byproducts. The firm's Downstream segment is engaged in the refining, transport, purchase of crude oil and natural gas from third parties and intersegment sales, and marketing of crude oil, natural gas, refined products, petrochemicals, electric power generation and natural gas distribution. The firm's Corporate and Other segment carries out other activities.