Destilería Argentina de Petróleo S.A. (DAPSA), part of the Sociedad Comercial del Plata S.A. holding, announced a strategic agreement with Chevron Products Company to market fuels in Argentina and the broader region.
The announcement was filed with the Comisión Nacional de Valores (CNV) as a material event. The deal formally establishes a strategic relationship between the two companies, aimed at boosting DAPSA’s growth by marketing Chevron commodities in the region.
The agreement specifies that both parties will explore additional areas of business integration, including the expansion of DAPSA’s supply logistics. It also includes commercial terms designed to allow DAPSA to increase its presence in regional markets with a “highly competitive” value proposition.
DAPSA will continue to market locally sourced products through its network of service stations in Argentina, maintaining continuity of its current offerings. The company has operated roughly 200 service stations across the country for more than 50 years.
DAPSA also owns a port terminal in Dock Sud with more than 140,000 cubic meters of storage capacity, interconnected by pipelines with major refineries and regional port terminals.
Additionally, DAPSA accounts for about 10% of local lubricant production and 60% of the lubricating grease market. Through the Chevron agreement, the company aims to expand its regional portfolio of products and services.
Greater diversification in the local market
The move not only consolidates DAPSA as one of the leading independent operators in the service station segment but also introduces new competition in a sector traditionally dominated by integrated refineries. By leveraging its robust logistics infrastructure with the backing of one of the world’s “supermajors,” DAPSA gains strategic advantage.
There is potential to unify all 200 DAPSA stations under a global brand—speculation points to a possible return of Texaco—to compete in the premium segment.
Historically, the Argentine fuel market has been highly concentrated, with YPF as the undisputed leader, holding roughly 55% to 59% of market share, depending on the segment.
However, 2026 is shaping up as a year of greater diversification, with smaller but strong players redefining their market shares amid a demand that, after year-on-year declines in 2025, is beginning to show signs of technical stabilization.
The competitive landscape is rounded out by major international and regional players vying for the remaining market share:
- Shell (Raízen): solidly in second place with an average 22.6% share, benefiting from refining efficiency and strong urban presence.
- Axion Energy (PAE): third place with around 14% market share, leveraging its modern Campana refinery and increased middle distillate output.
- Puma Energy (Trafigura): growing steadily, with roughly 6% of the market and strong logistics through the port of Bahía Blanca.
- DAPSA (SCP): leader among independents, capturing about 2% of fuel sales. The remainder is divided between Gulf and Refinor.
Local market changes in 2026
Chevron’s entry via DAPSA comes amid a technological shift in local fuel distribution.
The Argentine market is entering the implementation phase of self-service fueling, a trend aimed at reducing operating costs and speeding up service at the pumps, and projected to be one of the most profitable investments for service stations this year.
Within this context, the strategic partnership will not only focus on product marketing but also on modernizing points of sale to meet global efficiency standards.
The deal could also represent a strategic evolution for Chevron in Argentina, moving the company from a mostly silent upstream partner to a player with direct ambitions in the downstream sector.
In 2013, Chevron was a pioneer in Vaca Muerta by developing the Loma Campana shale field together with YPF, which now operates it. Today, Chevron operates El Trapial, where it holds 100% of the concession. El Trapial-East is a shale oil project in continuous development, covering more than 450 square kilometers, where the company plans investments exceeding $500 million annually to accelerate light crude production.