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Argentine state-run oil company YPF SA is considering a sale of its lithium unit as part of a sweeping divestment strategy to streamline investments into the heralded Vaca Muerta shale patch.
A sale of the unit would come just three years after it was created as YPF — and oil companies the world over — have looked to reposition themselves in the face of the energy transition. YPF Litio also helped the previous leftist government’s efforts to nurture a lithium-ion battery industry in Argentina, rather than abroad. Together with Catamarca, it brokered a non-binding agreement with China’s Zijin Mining Group Co. to make battery cathodes.
YPF already has divested 22 aging non-shale fields and it is in talks with takers for about 30 more, while plans are afoot to sell fuel businesses in Chile and Brazil and a stake in a Buenos Aires natural gas distributor.
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