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Balances and Transactions with Related Parties | 12 Months Ended
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Dec. 31, 2017
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Balances and Transactions with Related Parties | 31. BALANCES AND TRANSACTIONS WITH RELATED PARTIES The information detailed in the tables below shows the balances with associates and joint ventures as of December 31, 2017, 2016, and 2015 and transactions with the mentioned parties for the years ended on such dates.
|  | 2017 |  |  | 2016 |  |  | 2015 |
|  | Other receivables |  |  | Trade receivables |  |  | Accounts payable |  |  | Other receivables |  |  | Trade receivables |  |  | Accounts payable |  |  | Other receivables |  |  | Trade receivables |  |  | Accounts payable |
|  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |
Joint ventures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Profertil |  |  | 107 |  |  |  | 239 |  |  |  | 215 |  |  |  | 97 |  |  |  | 162 |  |  |  | 99 |  |  |  | 110 |  |  |  | 209 |  |  |  | 35 |
MEGA |  |  | — |  |  |  | 925 |  |  |  | 149 |  |  |  | — |  |  |  | 797 |  |  |  | 80 |  |  |  | 12 |  |  |  | 481 |  |  |  | 381 |
Refinor |  |  | — |  |  |  | 224 |  |  |  | 8 |  |  |  | — |  |  |  | 296 |  |  |  | 39 |  |  |  | — |  |  |  | 125 |  |  |  | 11 |
Bizoy S.A. |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | — |
Y-GEN I |  |  | 57 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Y-GEN II |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Petrofaro S.A. |  |  | — |  |  |  | 35 |  |  |  | 51 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 191 |  |  |  | 1,423 |  |  |  | 423 |  |  |  | 106 |  |  |  | 1,257 |  |  |  | 218 |  |  |  | 126 |  |  |  | 815 |  |  |  | 427 |
Associates: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CDS |  |  | — |  |  |  | 122 |  |  |  | — |  |  |  | — |  |  |  | 108 |  |  |  | — |  |  |  | — |  |  |  | 194 |  |  |  | — |
YPF Gas (1) |  |  | 589 |  |  |  | 230 |  |  |  | 15 |  |  |  | 35 |  |  |  | 375 |  |  |  | 35 |  |  |  | 33 |  |  |  | 98 |  |  |  | 44 |
Oldelval |  |  | — |  |  |  | — |  |  |  | 131 |  |  |  | — |  |  |  | — |  |  |  | 81 |  |  |  | — |  |  |  | — |  |  |  | 56 |
Termap |  |  | — |  |  |  | — |  |  |  | 52 |  |  |  | — |  |  |  | — |  |  |  | 44 |  |  |  | — |  |  |  | — |  |  |  | 44 |
OTA |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 2 |
OTC |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |
Gasoducto del Pacífico (Argentina) S.A. |  |  | 4 |  |  |  | — |  |  |  | 19 |  |  |  | 4 |  |  |  | — |  |  |  | 31 |  |  |  | 4 |  |  |  | — |  |  |  | 27 |
Oiltanking |  |  | — |  |  |  | — |  |  |  | 96 |  |  |  | — |  |  |  | — |  |  |  | 50 |  |  |  | — |  |  |  | — |  |  |  | 45 |
Gas Austral S.A. |  |  | 2 |  |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 600 |  |  |  | 359 |  |  |  | 318 |  |  |  | 41 |  |  |  | 483 |  |  |  | 246 |  |  |  | 38 |  |  |  | 292 |  |  |  | 218 |
|  |  | 791 |  |  |  | 1,782 |  |  |  | 741 |  |  |  | 147 |  |  |  | 1,740 |  |  |  | 464 |  |  |  | 164 |  |  |  | 1,107 |  |  |  | 645 |
|  | 2017 |  |  | 2016 |  |  | 2015 |
|  | Revenues |  |  | Purchases and services |  |  | Net interest income (loss) |  |  | Revenues |  |  | Purchases and services |  |  | Net interest income (loss) |  |  | Revenues |  |  | Purchases and services |  |  | Net interest income (loss) |
Joint ventures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Profertil |  |  | 906 |  |  |  | 901 |  |  |  | — |  |  |  | 956 |  |  |  | 620 |  |  |  | — |  |  |  | 823 |  |  |  | 305 |  |  |  | — |
MEGA |  |  | 4,058 |  |  |  | 814 |  |  |  | — |  |  |  | 2,673 |  |  |  | 337 |  |  |  | — |  |  |  | 1,396 |  |  |  | 470 |  |  |  | — |
Refinor |  |  | 838 |  |  |  | 225 |  |  |  | 10 |  |  |  | 998 |  |  |  | 133 |  |  |  | 3 |  |  |  | 824 |  |  |  | 195 |  |  |  | — |
Bizoy S.A. |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Y-GEN I |  |  | 34 |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Y-GEN II |  |  | 41 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Petrofaro S.A. |  |  | 33 |  |  |  | 58 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 5,911 |  |  |  | 1,998 |  |  |  | 10 |  |  |  | 4,634 |  |  |  | 1,090 |  |  |  | 3 |  |  |  | 3,043 |  |  |  | 970 |  |  |  | — |
Associates: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CDS |  |  | 102 |  |  |  | — |  |  |  | — |  |  |  | 579 |  |  |  | — |  |  |  | 38 |  |  |  | 322 |  |  |  | — |  |  |  | 8 |
YPF Gas (1) |  |  | 863 |  |  |  | 51 |  |  |  | 51 |  |  |  | 761 |  |  |  | 41 |  |  |  | — |  |  |  | 231 |  |  |  | 35 |  |  |  | — |
Oldelval |  |  | — |  |  |  | 596 |  |  |  | — |  |  |  | — |  |  |  | 408 |  |  |  | — |  |  |  | — |  |  |  | 220 |  |  |  | — |
Termap |  |  | — |  |  |  | 366 |  |  |  | — |  |  |  | — |  |  |  | 309 |  |  |  | — |  |  |  | — |  |  |  | 215 |  |  |  | — |
OTA |  |  | — |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 20 |  |  |  | — |
Gasoducto del Pacífico (Argentina) S.A. |  |  | — |  |  |  | 202 |  |  |  | — |  |  |  | — |  |  |  | 170 |  |  |  | — |  |  |  | — |  |  |  | 113 |  |  |  | — |
Oiltanking. |  |  | 1 |  |  |  | 428 |  |  |  | — |  |  |  | — |  |  |  | 350 |  |  |  | — |  |  |  | — |  |  |  | 200 |  |  |  | — |
Gas Austral S.A. |  |  | 78 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 1,044 |  |  |  | 1,669 |  |  |  | 51 |  |  |  | 1,340 |  |  |  | 1,303 |  |  |  | 38 |  |  |  | 553 |  |  |  | 803 |  |  |  | 8 |
|  |  | 6,955 |  |  |  | 3,667 |  |  |  | 61 |  |  |  | 5,974 |  |  |  | 2,393 |  |  |  | 41 |  |  |  | 3,596 |  |  |  | 1,773 |  |  |  | 8 |
(1) | Disclosed balances and transactions since the date of the acquisition of associates. See Note 3.
Additionally, in the normal course of business, and considering being the main energy group in Argentina, the Group’s client/suppliers portfolio encompasses both private sector entities as well as national public sector entities. As required by IAS 24 “Related party disclosures”, among the major transactions above mentioned the most important are:
|  |  |  |  | Balances |  |  | Transactions |
|  |  |  |  | Credits / (Liabilities) |  |  | Income / (Costs) |
Customers / Suppliers |  | Ref. |  |  | 2017 |  |  | 2016 |  |  | 2015 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
MINEM |  |  | (1 | ) |  |  | 13,417 |  |  |  | 10,881 |  |  |  | 9,859 |  |  |  | 12,840 |  |  |  | 16,757 |  |  |  | 12,345 |
MINEM |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | 1,988 |  |  |  | — |  |  |  | — |  |  |  | 1,988 |
MINEM |  |  | (3 | ) |  |  | 190 |  |  |  | 129 |  |  |  | 207 |  |  |  | 191 |  |  |  | 93 |  |  |  | 84 |
MINEM |  |  | (4 | ) |  |  | 162 |  |  |  | 142 |  |  |  | 91 |  |  |  | 119 |  |  |  | 132 |  |  |  | 123 |
MINEM |  |  | (5 | ) |  |  | — |  |  |  | 759 |  |  |  | 149 |  |  |  | — |  |  |  | 759 |  |  |  | 711 |
Ministry of Transport |  |  | (6 | ) |  |  | 840 |  |  |  | 1,152 |  |  |  | 412 |  |  |  | 5,402 |  |  |  | 5,658 |  |  |  | 3,746 |
Secretariat of Industry |  |  | (7 | ) |  |  | 24 |  |  |  | 378 |  |  |  | 27 |  |  |  | 188 |  |  |  | 422 |  |  |  | 621 |
CAMMESA |  |  | (8 | ) |  |  | 4,444 |  |  |  | 3,782 |  |  |  | 2,156 |  |  |  | 17,569 |  |  |  | 20,934 |  |  |  | 12,079 |
CAMMESA |  |  | (9 | ) |  |  | (316 | ) |  |  | (170 | ) |  |  | (196 | ) |  |  | (2,090 | ) |  |  | (2,189 | ) |  |  | (1,460 | )
ENARSA |  |  | (10 | ) |  |  | 698 |  |  |  | 727 |  |  |  | 758 |  |  |  | 2,920 |  |  |  | 2,541 |  |  |  | 1,635 |
ENARSA |  |  | (11 | ) |  |  | (1,591 | ) |  |  | (1,357 | ) |  |  | (893 | ) |  |  | (214 | ) |  |  | (955 | ) |  |  | (1,141 | )
Aerolíneas Argentinas S.A. and Austral Líneas Aéreas Cielos del Sur S.A. |  |  | (12 | ) |  |  | 946 |  |  |  | 364 |  |  |  | 255 |  |  |  | 4,300 |  |  |  | 3,066 |  |  |  | 2,178 |
Aerolíneas Argentinas S.A. and Austral Líneas Aéreas Cielos del Sur S.A. |  |  | (13 | ) |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | (28 | ) |  |  | (14 | ) |  |  | (1 | )
(1) | The benefits of the incentive scheme for the Additional Injection of natural gas.
(2) | Benefits for the crude oil production incentive program.
(3) | Benefits for the propane gas supply agreement for undiluted propane gas distribution networks.
(4) | Benefits for the bottle-to-bottle program.
(5) | Temporary economic assistance to Metrogas.
(6) | The compensation for providing gas oil to public transport of passengers at a differential price.
(7) | Incentive for domestic manufacturing of capital goods, for the benefit of AESA.
(8) | The provision of fuel oil and natural gas, and electric power generation.
(9) | Purchases of energy.
(10) | Rendering of regasification service in the regasification projects of liquefied natural gas in Escobar and Bahía Blanca.
(11) | The purchase of natural gas and crude oil.
(12) | The provision of jet fuel.
(13) | The purchase of miles for the YPF Serviclub program
Additionally, the Group has entered into certain financing and insurance transactions with entities related to the national public sector. Such transactions consist of certain financial transactions that are described in Note 16 and transactions with Nación Seguros S.A. related to certain insurance policies contracts, and in connection therewith, to the reimbursement from the insurance coverage for the incidents mentioned in Note 28.a. On the other hand, the Group holds BONAR 2020 (see Note 6) and 2021, classified as “Investments in financial assets”. Furthermore, in relation to the investment agreement signed between YPF and Chevron subsidiaries, YPF has an indirect non-controlling interest in CHNC with which YPF carries out transactions in connection with the mentioned investment agreement. See Note 29.b. The table below discloses the compensation for the YPF’s key management personnel, including members of the Board of Directors and Vice presidents (managers with executive functions appointed by the Board of Directors), for the years ended December 31, 2017, 2016 and 2015:
|  | 2017(1) |  |  | 2016(1) |  |  | 2015(1) |
Short-term employee benefits (2) |  |  | 221 |  |  |  | 182 |  |  |  | 158 |
Share-based benefits |  |  | 34 |  |  |  | 26 |  |  |  | 40 |
Post-retirement benefits |  |  | 10 |  |  |  | 9 |  |  |  | 6 |
Termination benefits |  |  | 109 |  |  |  | 94 |  |  |  | 5 |
|  |  | 374 |  |  |  | 311 |  |  |  | 209 |
(1) | Includes the compensation for YPF’s key management personnel, which developed their functions during the mentioned years.
(2) | Does not include Social Security contributions of 50, 45 and 55 for the years ended December 31, 2017, 2016 and 2015, respectively.

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