Horacio Marín spoke about the price of naphtha: We are not going to speculate

Horacio Marín, chief executive officer and president of YPF, addressed concerns regarding fuel prices during a recent interview with La Nación. He emphasized that the company would not speculate on pricing decisions, stating, “We are not going to speculate.” When asked about the price Argentines pay for gasoline at the pump, Marín noted that despite the ongoing Middle East conflict, fuel prices remained aligned with international market rates, which he described as a strategic choice made by the company to avoid inflating costs beyond necessary levels. Marín highlighted how Argentina managed to navigate the economic uncertainty caused by the war without experiencing a major international crisis. He pointed out that while global demand surged and prices fluctuated, the country avoided importing excessively high fuel prices, thus protecting consumers from abrupt spikes. According to him, this approach helped stabilize expectations among citizens, reducing the sense of unpredictability that often accompanies volatile markets. From his perspective at YPF, Marín explained that the decision to maintain stable fuel prices was part of a broader strategy aimed at fostering confidence. He stated that the company had ensured that no provincial government was subjected to excessive royalties, which could have undermined consumer trust. Additionally, he mentioned that the company closely monitored demand trends through its real-time data systems, allowing for timely adjustments without disrupting the market. The CEO also reiterated YPF’s commitment to ethical practices, emphasizing that the company would not accept inflated prices. He argued that Argentina's capacity for self-sufficiency in energy production meant that there was less need to rely on expensive imports. This stance reflects a long-term vision for sustainable growth within the nation’s energy sector. When asked about the political landscape ahead of upcoming presidential elections, Marín expressed confidence in the continuity of current policies under the leadership of Javier Milei. He suggested that the administration’s support has been crucial for YPF’s operations, noting that investment incentives play a vital role in driving industry expansion. Without proper incentives, he warned, private investment would remain hesitant. Looking forward, Marín outlined YPF’s ambitious plans for job creation, projecting that its initiatives will generate between 40,000 and 45,000 new jobs, both directly and indirectly, within the energy sector. He stressed that these positions represent a significant step toward long-term industrial development, reinforcing the importance of energy infrastructure in national progress. In another segment of the interview, Marín detailed the Argentina LNG project, a joint venture involving YPF, ENI, and XRG. He called it the largest initiative undertaken by YPF so far, explaining that it involves transforming natural gas resources from the Vaca Muerta region into liquefied natural gas (LNG) for export. The project required extensive planning, including three years of collaboration with partners, engineering work, cost analysis, and profitability assessments. Marín confirmed that the final investment agreement is expected to be signed by year-end, with the first plants set to begin operations in 2027. The project also introduces a more transparent bidding process, requiring suppliers to disclose their methods of providing inputs before participating in tenders. This change aims to enhance efficiency and accountability within the procurement system. In concluding his remarks, Marín drew a parallel between YPF and other key Argentine institutions, such as Mercado Libre, suggesting both companies exemplify excellence in service and reliability. He concluded with a personal anecdote about the founding of McDonald's in Argentina, highlighting how cleanliness and operational standards can serve as indicators of corporate integrity.