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Balances and Transactions with Related Parties | 12 Months Ended
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Dec. 31, 2018
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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, 2018, 2017, and 2016 and transactions with the mentioned parties for the years ended on such dates.
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | 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 |  |  | 2 |  |  |  | 461 |  |  |  | 428 |  |  |  | 107 |  |  |  | 239 |  |  |  | 215 |  |  |  | 97 |  |  |  | 162 |  |  |  | 99 |
MEGA |  |  | — |  |  |  | 2,441 |  |  |  | 6 |  |  |  | — |  |  |  | 925 |  |  |  | 149 |  |  |  | — |  |  |  | 797 |  |  |  | 80 |
Refinor |  |  | — |  |  |  | 770 |  |  |  | 5 |  |  |  | — |  |  |  | 224 |  |  |  | 8 |  |  |  | — |  |  |  | 296 |  |  |  | 39 |
Bizoy S.A. |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | — |
Y-GEN I |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | 57 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |
Y-GEN II |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
YPF EE(1) |  |  | 218 |  |  |  | 1,552 |  |  |  | 1,301 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Petrofaro S.A. |  |  | — |  |  |  | 267 |  |  |  | 151 |  |  |  | — |  |  |  | 35 |  |  |  | 51 |  |  |  | — |  |  |  | — |  |  |  | — |
Oleoducto Loma Campana-Lago Pellegrini S.A. |  |  | 1,884 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 2,115 |  |  |  | 5,493 |  |  |  | 1,891 |  |  |  | 191 |  |  |  | 1,423 |  |  |  | 423 |  |  |  | 106 |  |  |  | 1,257 |  |  |  | 218 |
Associates: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CDS |  |  | — |  |  |  | 518 |  |  |  | — |  |  |  | — |  |  |  | 122 |  |  |  | — |  |  |  | — |  |  |  | 108 |  |  |  | — |
YPF Gas |  |  | 637 |  |  |  | 414 |  |  |  | 62 |  |  |  | 589 |  |  |  | 230 |  |  |  | 15 |  |  |  | 35 |  |  |  | 375 |  |  |  | 35 |
Oldelval |  |  | — |  |  |  | 34 |  |  |  | 272 |  |  |  | — |  |  |  | — |  |  |  | 131 |  |  |  | — |  |  |  | — |  |  |  | 81 |
Termap |  |  | — |  |  |  | — |  |  |  | 102 |  |  |  | — |  |  |  | — |  |  |  | 52 |  |  |  | — |  |  |  | — |  |  |  | 44 |
OTA |  |  | 5 |  |  |  | — |  |  |  | 14 |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 5 |
OTC |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |
Gasoducto del Pacífico (Argentina) S.A. |  |  | 4 |  |  |  | — |  |  |  | 80 |  |  |  | 4 |  |  |  | — |  |  |  | 19 |  |  |  | 4 |  |  |  | — |  |  |  | 31 |
Oiltanking |  |  | 21 |  |  |  | — |  |  |  | 147 |  |  |  | — |  |  |  | — |  |  |  | 96 |  |  |  | — |  |  |  | — |  |  |  | 50 |
Gas Austral S.A. |  |  | 2 |  |  |  | 16 |  |  |  | — |  |  |  | 2 |  |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 676 |  |  |  | 982 |  |  |  | 677 |  |  |  | 600 |  |  |  | 359 |  |  |  | 318 |  |  |  | 41 |  |  |  | 483 |  |  |  | 246 |
|  |  | 2,791 |  |  |  | 6,475 |  |  |  | 2,568 |  |  |  | 791 |  |  |  | 1,782 |  |  |  | 741 |  |  |  | 147 |  |  |  | 1,740 |  |  |  | 464 |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | 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 |  |  | 2,751 |  |  |  | 1,964 |  |  |  | — |  |  |  | 906 |  |  |  | 901 |  |  |  | — |  |  |  | 956 |  |  |  | 620 |  |  |  | — |
MEGA |  |  | 8,150 |  |  |  | 438 |  |  |  | — |  |  |  | 4,058 |  |  |  | 814 |  |  |  | — |  |  |  | 2,673 |  |  |  | 337 |  |  |  | — |
Refinor |  |  | 2,594 |  |  |  | 323 |  |  |  | — |  |  |  | 838 |  |  |  | 225 |  |  |  | 10 |  |  |  | 998 |  |  |  | 133 |  |  |  | 3 |
Bizoy S.A. |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |
Y-GEN I |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | 34 |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |
Y-GEN II |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 41 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
YPF EE(1) |  |  | 2,064 |  |  |  | 1,548 |  |  |  | 47 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Petrofaro S.A. |  |  | 223 |  |  |  | 150 |  |  |  | — |  |  |  | 33 |  |  |  | 58 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 15,786 |  |  |  | 4,423 |  |  |  | 47 |  |  |  | 5,911 |  |  |  | 1,998 |  |  |  | 10 |  |  |  | 4,634 |  |  |  | 1,090 |  |  |  | 3 |
Associates: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CDS |  |  | 565 |  |  |  | — |  |  |  | — |  |  |  | 102 |  |  |  | — |  |  |  | — |  |  |  | 579 |  |  |  | — |  |  |  | 38 |
YPF Gas |  |  | 1,608 |  |  |  | 104 |  |  |  | 217 |  |  |  | 863 |  |  |  | 51 |  |  |  | 51 |  |  |  | 761 |  |  |  | 41 |  |  |  | — |
Oldelval |  |  | 103 |  |  |  | 1,167 |  |  |  | — |  |  |  | — |  |  |  | 596 |  |  |  | — |  |  |  | — |  |  |  | 408 |  |  |  | — |
Termap |  |  | 6 |  |  |  | 666 |  |  |  | — |  |  |  | — |  |  |  | 366 |  |  |  | — |  |  |  | — |  |  |  | 309 |  |  |  | — |
OTA |  |  | 1 |  |  |  | 47 |  |  |  | — |  |  |  | — |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 25 |  |  |  | — |
Gasoducto del Pacífico (Argentina) S.A. |  |  | — |  |  |  | 363 |  |  |  | — |  |  |  | — |  |  |  | 202 |  |  |  | — |  |  |  | — |  |  |  | 170 |  |  |  | — |
Oiltanking |  |  | 4 |  |  |  | 777 |  |  |  | — |  |  |  | 1 |  |  |  | 428 |  |  |  | — |  |  |  | — |  |  |  | 350 |  |  |  | — |
Gas Austral S.A. |  |  | 199 |  |  |  | — |  |  |  | — |  |  |  | 78 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 2,486 |  |  |  | 3,124 |  |  |  | 217 |  |  |  | 1,044 |  |  |  | 1,669 |  |  |  | 51 |  |  |  | 1,340 |  |  |  | 1,303 |  |  |  | 38 |
|  |  | 18,272 |  |  |  | 7,547 |  |  |  | 264 |  |  |  | 6,955 |  |  |  | 3,667 |  |  |  | 61 |  |  |  | 5,974 |  |  |  | 2,393 |  |  |  | 41 |
(1) | On March 20, 2018, YPF EE was reclassified as a joint venture. Includes transactions following the loss of control over YPF EE. 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. |  | 2018 |  |  | 2017 |  |  | 2016 |  |  | 2018 |  |  | 2017 |  |  | 2016 |
SGE |  | (1) (16) |  |  | 26,978 |  |  |  | 13,417 |  |  |  | 10,881 |  |  |  | — |  |  |  | 12,840 |  |  |  | 16,757 |
SGE |  | (2) (16) |  |  | 1,211 |  |  |  | — |  |  |  | — |  |  |  | 1,376 |  |  |  | — |  |  |  | — |
SGE |  | (3) (16) |  |  | 282 |  |  |  | 190 |  |  |  | 129 |  |  |  | 347 |  |  |  | 191 |  |  |  | 93 |
SGE |  | (4) (16) |  |  | 192 |  |  |  | 162 |  |  |  | 142 |  |  |  | 107 |  |  |  | 119 |  |  |  | 132 |
SGE |  | (5) (16) |  |  | 1,255 |  |  |  | — |  |  |  | — |  |  |  | 3,447 |  |  |  | — |  |  |  | — |
SGE |  | (6) (16) |  |  | 3,535 |  |  |  | — |  |  |  | — |  |  |  | 4,149 |  |  |  | — |  |  |  | — |
SGE |  | (7) (16) |  |  | — |  |  |  | — |  |  |  | 759 |  |  |  | — |  |  |  | — |  |  |  | 759 |
Ministry of Transport |  | (8) (16) |  |  | 3,044 |  |  |  | 840 |  |  |  | 1,152 |  |  |  | 9,192 |  |  |  | 5,402 |  |  |  | 5,658 |
Secretariat of Industry |  | (9) (16) |  |  | — |  |  |  | 24 |  |  |  | 378 |  |  |  | — |  |  |  | 188 |  |  |  | 422 |
CAMMESA |  | (10) |  |  | 3,822 |  |  |  | 4,444 |  |  |  | 3,782 |  |  |  | 18,029 |  |  |  | 17,569 |  |  |  | 20,934 |
CAMMESA |  | (11) |  |  | (444 | ) |  |  | (316 | ) |  |  | (170 | ) |  |  | (3,272 | ) |  |  | (2,090 | ) |  |  | (2,189 | )
IEASA |  | (12) |  |  | 4,326 |  |  |  | 698 |  |  |  | 727 |  |  |  | 7,600 |  |  |  | 2,920 |  |  |  | 2,541 |
IEASA |  | (13) |  |  | (745 | ) |  |  | (1,591 | ) |  |  | (1,357 | ) |  |  | (1,156 | ) |  |  | (214 | ) |  |  | (955 | )
Aerolíneas Argentinas S.A. and Austral Líneas Aéreas Cielos del Sur S.A. |  | (14) |  |  | 3,454 |  |  |  | 946 |  |  |  | 364 |  |  |  | 8,710 |  |  |  | 4,300 |  |  |  | 3,066 |
Aerolíneas Argentinas S.A. and Austral Líneas Aéreas Cielos del Sur S.A. |  | (15) |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | (21 | ) |  |  | (28 | ) |  |  | (14 | )
(1) | Benefits of the incentive scheme for the Additional Injection of natural gas.
(2) | Benefits from the Program to Encourage Investments in the Development of Natural Gas Production from Unconventional Reservoirs.
(3) | Benefits for the propane gas supply agreement for undiluted propane gas distribution networks.
(4) | Benefits for the bottle-to-bottle program.
(5) | Procedure to compensate for the lower income that Natural Gas Piping Distribution Service Licensed Companies receive from their users for the benefit of Metrogas.
(6) | Procedure to compensate the payment of the daily differences accumulated on a monthly basis between the price of the gas purchased by Natural Gas Piping Distribution Service Companies and the price of the natural gas included in the respective tariff schemes for the benefit of Metrogas.
(7) | Temporary economic assistance to Metrogas.
(8) | The compensation for providing gas oil to public transport of passengers at a differential price.
(9) | Incentive for domestic manufacturing of capital goods, for the benefit of AESA.
(10) | The provision of fuel oil and natural gas, and electric power generation corresponding to YPF EE until the date of loss of control by YPF.
(11) | Purchases of energy.
(12) | Rendering of regasification service in the regasification projects of liquefied natural gas in Bahía Blanca (until October 31, 2018) and Escobar.
(13) | The purchase of natural gas and crude oil.
(14) | The provision of jet fuel.
(15) | The purchase of miles for the YPF Serviclub program.
(16) | Income recognized under the guidelines of IAS 20.
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 Notes 13 and 16 and transactions with Nación Seguros S.A. related to certain insurance policies contracts. On the other hand, the Group holds BONAR 2020 (see Note 30.g) 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, 2018, 2017 and 2016:
|  | 2018(1) |  |  | 2017(1) |  |  | 2016(1) |
Short-term employee benefits(2) |  |  | 337 |  |  |  | 221 |  |  |  | 182 |
Share-based benefits |  |  | 55 |  |  |  | 34 |  |  |  | 26 |
Post-retirement benefits |  |  | 14 |  |  |  | 10 |  |  |  | 9 |
Termination benefits |  |  | — |  |  |  | 109 |  |  |  | 94 |
|  |  | 406 |  |  |  | 374 |  |  |  | 311 |
(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 66, 50 and 45 for the years ended December 31, 2018, 2017 and 2016, respectively.

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