Petrobras Argentina S.A. ceased to exist as an independent public company after it was acquired by Pampa Energía S.A. in 2016. In July of that year, Petróleo Brasileiro S.A. (Petrobras) sold its 67% stake in Petrobras Argentina to Pampa for approximately US$892 million, and by the end of 2016 Pampa had taken full control. Following the merger, Petrobras Argentina was delisted from the Buenos Aires Stock Exchange and its ADRs were removed from the NYSE, with all operations absorbed into Pampa Energía by early 2017.
Before its absorption, Petrobras Argentina operated as an integrated energy company through four business segments: Electricity Distribution, Oil and Gas, Refining and Distribution, and Petrochemicals. The Electricity Distribution segment served an area of 4,637 square kilometers and approximately 2.9 million customers as of December 31, 2016. The Oil and Gas segment managed exploration and production activities, holding proved reserves of 143.9 million barrels of oil equivalent. The Refining and Distribution segment covered exploration, production, refining, and distribution of crude oil and gas, producing gasoline, diesel, fuel oil, asphalts, and liquefied gases, while operating a network of 263 service stations, including 79 owned and 184 franchised. The Petrochemicals segment manufactured and sold products such as intermediate gasoline, aromatic solvents, hexane, hydrogenated paraffinic solvents, propellants for the cosmetic industry, monomer styrene, rubbers, and polymers. Founded in 1946 and originally known as Petrobras Energía S.A., the company changed its name to Petrobras Argentina S.A. in July 2010 and operated as a subsidiary of Petrobras Participaciones, S.L. until its sale and integration into Pampa Energía.
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