Petrobras Argentina

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Petrobras Argentina S.A.
Sociedad Anónima
Traded as BCBA: PESA
Industry Oil & Gas and Utility
Founded 1946
Headquarters Buenos Aires, Argentina
Key people
José Fernando de Freitas, (Chairman)
Ronaldo Batista Assunção, (CEO)
Products Petroleum
Natural gas
Revenue Increase US$ 2.5 Billion (2012) [1]
Decrease US$ 125.2 Million (2012)[1]
Number of employees
Parent Pampa Energia

Petrobras Argentina (BCBA: PESA / NYSEPZE) is the Argentine-based former subsidiary of Petróleo Brasileiro S.A. (Petrobras), the Brazilian energy conglomerate and now a subsidiary of Pampa Energia

The unit was established in 1993, and in 2001, expanded into 700 service stations with the purchase of Eg3 from the struggling Sociedad Comercial del Plata. Its purchase in 2003 of Petrolera Santa Fe/Pecom Energía from local industrialist Gregorio Pérez Companc allowed it to significantly expand into the local fossil fuel sector.[2]

It expanded into electric grid operations with the purchase of a majority stake in Transener from PESA, though the group sold Transener to local entrepreneur Marcelo Mindlin in 2004.[3] The company since operates in the energy area, focusing its business in the exploration and production of oil and gas, as well as the petrochemical and electricity production.[4]

Currently, Petrobras Energía is the second largest oil company in Argentina, behind Repsol YPF, and is present in United States, Brazil, Bolivia, Ecuador, México, Peru and Venezuela.[4]

The company is listed in Buenos Aires Stock Exchange and is part of Merval Index.