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Balances and Transactions with Related Parties | 12 Months Ended
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Dec. 31, 2020
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Balances and Transactions with Related Parties |
35. | 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, 2020, 2019 and 2018 and transactions with the mentioned parties for the years ended on such dates.
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | Other receivables |  |  | Trade receivables |  |  | Accounts payable |  |  | Contract liabilities |  |  | Other receivables |  |  | Trade receivables |  |  | Accounts payable |  |  | Contract liabilities |  |  | Other receivables |  |  | Trade receivables |  |  | Accounts payable |
|  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |  |  | Current |
Joint ventures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Profertil |  |  | 12 |  |  |  | 641 |  |  |  | 484 |  |  |  | — |  |  |  | 12 |  |  |  | 587 |  |  |  | 114 |  |  |  | — |  |  |  | 2 |  |  |  | 461 |  |  |  | 428 |
MEGA |  |  | — |  |  |  | 2,650 |  |  |  | 261 |  |  |  | — |  |  |  | — |  |  |  | 2,995 |  |  |  | 350 |  |  |  | — |  |  |  | — |  |  |  | 2,441 |  |  |  | 6 |
Refinor |  |  | — |  |  |  | 577 |  |  |  | 75 |  |  |  | — |  |  |  | — |  |  |  | 956 |  |  |  | 123 |  |  |  | — |  |  |  | — |  |  |  | 770 |  |  |  | 5 |
Bizoy S.A. |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 17 |  |  |  | — |  |  |  | — |  |  |  | 11 |  |  |  | — |  |  |  | — |
Y-GEN I |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |
YPF EE (1) |  |  | 389 |  |  |  | 794 |  |  |  | 2,504 |  |  |  | 56 |  |  |  | 296 |  |  |  | 2,278 |  |  |  | 2,183 |  |  |  | 679 |  |  |  | 218 |  |  |  | 1,552 |  |  |  | 1,301 |
Petrofaro S.A. |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 267 |  |  |  | 151 |
OLCLP |  |  | 79 |  |  |  | 7 |  |  |  | 168 |  |  |  | — |  |  |  | 56 |  |  |  | 59 |  |  |  | 70 |  |  |  | — |  |  |  | 1,884 |  |  |  | — |  |  |  | — |
Sustentator S.A. |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 480 |  |  |  | 4,669 |  |  |  | 3,494 |  |  |  | 56 |  |  |  | 364 |  |  |  | 6,898 |  |  |  | 2,840 |  |  |  | 679 |  |  |  | 2,115 |  |  |  | 5,493 |  |  |  | 1,891 |
Associates: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CDS |  |  | — |  |  |  | 144 |  |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | 1,063 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 518 |  |  |  | — |
YPF Gas |  |  | 51 |  |  |  | 322 |  |  |  | 180 |  |  |  | — |  |  |  | 90 |  |  |  | 317 |  |  |  | 73 |  |  |  | — |  |  |  | 637 |  |  |  | 414 |  |  |  | 62 |
Oldelval |  |  | — |  |  |  | 1 |  |  |  | 450 |  |  |  | — |  |  |  | — |  |  |  | 77 |  |  |  | 401 |  |  |  | — |  |  |  | — |  |  |  | 34 |  |  |  | 272 |
Termap |  |  | — |  |  |  | — |  |  |  | 182 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 182 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 102 |
OTA |  |  | 12 |  |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | 14 |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | 14 |
OTC |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7 |  |  |  | — |  |  |  | — |
GPA |  |  | — |  |  |  | — |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 99 |  |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | 80 |
Oiltanking |  |  | — |  |  |  | 1 |  |  |  | 304 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 198 |  |  |  | — |  |  |  | 21 |  |  |  | — |  |  |  | 147 |
Gas Austral S.A. |  |  | — |  |  |  | 23 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 12 |  |  |  | 1 |  |  |  | — |  |  |  | 2 |  |  |  | 16 |  |  |  | — |
|  |  | 71 |  |  |  | 491 |  |  |  | 1,161 |  |  |  | — |  |  |  | 103 |  |  |  | 1,469 |  |  |  | 968 |  |  |  | — |  |  |  | 676 |  |  |  | 982 |  |  |  | 677 |
|  |  | 551 |  |  |  | 5,160 |  |  |  | 4,655 |  |  |  | 56 |  |  |  | 467 |  |  |  | 8,367 |  |  |  | 3,808 |  |  |  | 679 |  |  |  | 2,791 |  |  |  | 6,475 |  |  |  | 2,568 |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | 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 |  |  | 5,111 |  |  |  | 4,883 |  |  |  | — |  |  |  | 4,418 |  |  |  | 3,044 |  |  |  | — |  |  |  | 2,751 |  |  |  | 1,964 |  |  |  | — |
MEGA |  |  | 12,408 |  |  |  | 2,281 |  |  |  | — |  |  |  | 10,672 |  |  |  | 1,854 |  |  |  | — |  |  |  | 8,150 |  |  |  | 438 |  |  |  | — |
Refinor |  |  | 2,750 |  |  |  | 706 |  |  |  | — |  |  |  | 3,310 |  |  |  | 481 |  |  |  | (16 | ) |  |  | 2,594 |  |  |  | 323 |  |  |  | — |
Bizoy S.A. |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Y-GEN I |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | — |
YPF EE (1) |  |  | 3,647 |  |  |  | 5,184 |  |  |  | — |  |  |  | 5,016 |  |  |  | 3,862 |  |  |  | — |  |  |  | 2,064 |  |  |  | 1,548 |  |  |  | 47 |
Petrofaro S.A. |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9 |  |  |  | 23 |  |  |  | — |  |  |  | 223 |  |  |  | 150 |  |  |  | — |
OLCLP |  |  | 115 |  |  |  | 571 |  |  |  | — |  |  |  | 66 |  |  |  | 316 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Sustentator S.A. |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | 24,031 |  |  |  | 13,629 |  |  |  | — |  |  |  | 23,496 |  |  |  | 9,580 |  |  |  | (16 | ) |  |  | 15,786 |  |  |  | 4,423 |  |  |  | 47 |
Associates: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CDS |  |  | 838 |  |  |  | 8 |  |  |  | 8 |  |  |  | 1,955 |  |  |  | 1 |  |  |  | — |  |  |  | 565 |  |  |  | — |  |  |  | — |
YPF Gas |  |  | 2,401 |  |  |  | 345 |  |  |  | 3 |  |  |  | 2,217 |  |  |  | 252 |  |  |  | 162 |  |  |  | 1,608 |  |  |  | 104 |  |  |  | 217 |
Oldelval |  |  | 57 |  |  |  | 2,893 |  |  |  | 2 |  |  |  | 238 |  |  |  | 2,192 |  |  |  | — |  |  |  | 103 |  |  |  | 1,167 |  |  |  | — |
Termap |  |  | — |  |  |  | 1,309 |  |  |  | — |  |  |  | — |  |  |  | 1,302 |  |  |  | — |  |  |  | 6 |  |  |  | 666 |  |  |  | — |
OTA |  |  | 2 |  |  |  | 76 |  |  |  | — |  |  |  | 1 |  |  |  | 80 |  |  |  | — |  |  |  | 1 |  |  |  | 47 |  |  |  | — |
GPA |  |  | — |  |  |  | 1,176 |  |  |  | — |  |  |  | — |  |  |  | 845 |  |  |  | — |  |  |  | — |  |  |  | 363 |  |  |  | — |
Oiltanking |  |  | 5 |  |  |  | 1,542 |  |  |  | — |  |  |  | 3 |  |  |  | 1,350 |  |  |  | — |  |  |  | 4 |  |  |  | 777 |  |  |  | — |
Gas Austral S.A. |  |  | 223 |  |  |  | — |  |  |  | — |  |  |  | 206 |  |  |  | 1 |  |  |  | — |  |  |  | 199 |  |  |  | — |  |  |  | — |
|  |  | 3,526 |  |  |  | 7,349 |  |  |  | 13 |  |  |  | 4,620 |  |  |  | 6,023 |  |  |  | 162 |  |  |  | 2,486 |  |  |  | 3,124 |  |  |  | 217 |
|  |  | 27,557 |  |  |  | 20,978 |  |  |  | 13 |  |  |  | 28,116 |  |  |  | 15,603 |  |  |  | 146 |  |  |  | 18,272 |  |  |  | 7,547 |  |  |  | 264 |
(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. |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |
SGE |  | (1) (17) |  |  | 12,607 |  |  |  | 26,223 |  |  |  | 26,978 |  |  |  | — |  |  |  | — |  |  |  | — |
SGE |  | (2) (17) |  |  | 3,330 |  |  |  | 3,416 |  |  |  | 1,211 |  |  |  | 3,992 |  |  |  | 5,684 |  |  |  | 1,376 |
SGE |  | (3) (17) |  |  | 228 |  |  |  | 155 |  |  |  | 282 |  |  |  | 234 |  |  |  | 657 |  |  |  | 347 |
SGE |  | (4) (17) |  |  | 240 |  |  |  | 166 |  |  |  | 192 |  |  |  | — |  |  |  | 7 |  |  |  | 107 |
SGE |  | (5) (17) |  |  | 625 |  |  |  | 475 |  |  |  | — |  |  |  | 150 |  |  |  | 475 |  |  |  | — |
SGE |  | (6) (17) |  |  | 440 |  |  |  | 172 |  |  |  | 1,255 |  |  |  | 845 |  |  |  | 995 |  |  |  | 3,447 |
SGE |  | (7) (17) |  |  | 6,126 |  |  |  | 4,417 |  |  |  | 3,535 |  |  |  | — |  |  |  | 361 |  |  |  | 4,149 |
Ministry of Transport |  | (8) (17) |  |  | 2,802 |  |  |  | 2,056 |  |  |  | 3,044 |  |  |  | 4,515 |  |  |  | 5,923 |  |  |  | 9,192 |
Secretariat of Industry |  | (9) (17) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 688 |  |  |  | — |
CAMMESA |  | (10) |  |  | 7,098 |  |  |  | 627 |  |  |  | 3,822 |  |  |  | 26,054 |  |  |  | 6,650 |  |  |  | 18,029 |
CAMMESA |  | (11) |  |  | (983 | ) |  |  | 386 |  |  |  | (444 | ) |  |  | (5,678 | ) |  |  | (3,778 | ) |  |  | (3,272 | )
IEASA |  | (12) |  |  | 5,998 |  |  |  | 5,041 |  |  |  | 4,326 |  |  |  | 10,992 |  |  |  | 11,994 |  |  |  | 7,600 |
IEASA |  | (13) |  |  | (2,640 | ) |  |  | (505 | ) |  |  | (745 | ) |  |  | (1,650 | ) |  |  | (462 | ) |  |  | (1,156 | )
Aerolíneas Argentinas S.A. and Austral Líneas Aéreas Cielos del Sur S.A. |  | (14) |  |  | 6,009 |  |  |  | 5,033 |  |  |  | 3,454 |  |  |  | 4,641 |  |  |  | 16,036 |  |  |  | 8,710 |
Aerolíneas Argentinas S.A. and Austral Líneas Aéreas Cielos del Sur S.A. |  | (15) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (21 | )
ANSES. |  | (16) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,539 |  |  |  | — |  |  |  | — |
(1) | Benefits for the Stimulus Programs for the Additional Injection of Natural Gas.
(2) | Benefits for the Stimulus Program for Investments in Natural Gas Production Developments from Non-Conventional Reservoirs.
(3) | Benefits for the propane gas supply agreement for undiluted propane gas distribution networks.
(4) | Benefits for the Household Program.
(5) | Benefits for recognition of the financial cost generated by payment deferral by providers of the distribution service of natural and undiluted propane gas through networks.
(6) | Procedure to compensate for the lower income that Natural Gas Piping Distribution Service Licensed Companies receive from their users for the benefit of Metrogas.
(7) | Procedure to compensate the payment of the accumulated daily differences 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. As of December 31, 2020, 1,887 have been charged to provision and 4,239 are disclosed net of liabilities with other natural gas producing companies. See Note 34.f.
(8) | The compensation for providing diesel 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.
(11) | Purchases of energy. As of December 31, 2019, the Group had a credit balance for energy purchases.
(12) | Sale of natural gas and provision of regasification service in the regasification projects of LNG in Escobar. Likewise, for the ten months period as of October 31, 2018 it also included the regasification projects of LNG in Bahía Blanca.
(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 by the Work and Production Assistance Program received in benefit of AESA and OPESSA.
(17) | 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 14 and 20 and transactions with Nación Seguros S.A. related to certain insurance policies contracts. On the other hand, the Group holds Bonds of the Argentine Republic 2029 and 2030, and Treasury Bills, classified as “Investments in financial assets”. See Note 6. 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. During fiscal years 2020, 2019 and 2018, YPF and CHNC carried out transactions, among others, the purchases of gas and crude oil by YPF for 14,962, 21,595 and 14,295, respectively. These transactions will be consummated in accordance with the general and regulatory conditions of the market. The net balance payable to CHNC as of December 31, 2020, 2019 and 2018 amounts to 6,462, 2,066 and 2,064, respectively. See Note 33.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, 2020, 2019 and 2018:
|  | 2020 |  |  | 2019 |  |  | 2018 |
Short-term employee benefits (1) |  |  | 719 |  |  |  | 515 |  |  |  | 337 |
Share-based benefits |  |  | 161 |  |  |  | 123 |  |  |  | 55 |
Post-retirement benefits |  |  | 32 |  |  |  | 22 |  |  |  | 14 |
Termination benefits |  |  | 242 |  |  |  | — |  |  |  | — |
|  |  | 1,154 |  |  |  | 660 |  |  |  | 406 |
(1) | Does not include Social Security contributions of 182, 133 and 66 for the years ended December 31, 2020, 2019 and 2018, respectively.

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