Petrobras Argentina S.A. operates as an integrated energy company. It operates through four segments: Oil and Gas Exploration and Production, Refining and Distribution, Petrochemicals, and Gas and Energy. The Oil and Gas Exploration and Production segment is involved in the oil and gas exploration and production activities in Argentina, Venezuela, Bolivia, and Ecuador. As of December 31, 2015, this segment had interests in 20 oil and gas production blocks and 9 exploration blocks located within exploration areas or pending authorization for production; and liquid hydrocarbon and natural gas proved developed and undeveloped reserves of 183.1 million barrels of oil equivalent. The Refining and Distribution segment operates a refinery at Bahía Blanca that produces gasoline, diesel, fuel oil, asphalts and liquefied gases, and intermediate fuel oil. This segment also operated a network of 265 gas stations, including 79 owned gas stations and 186 franchised gas stations under the Petrobras and Spacio 1 brand names. The Petrochemicals segment produces and sells a range of products, such as intermediate gasoline, aromatic solvents, hexane and other hydrogenated paraffinic solvents, propellants for the cosmetic industry, monomer styrene, rubbers, and polymers. The Gas and Energy segment engages in the sale of gas; provision of brokerage and trading services for gas and liquefied petroleum gas; transportation of gas in southern Argentina; and processing and marketing of natural gas liquids, as well as generation and transmission of electricity through thermal power plant and the open cycle gas-fired turbine sources. The company was formerly known as Petrobras Energia S.A. and changed its name to Petrobras Argentina, S.A. in July 2010. The company was founded in 1946 and is based in Buenos Aires, Argentina. Petrobras Argentina SA operates as a subsidiary of Petrobras Participaciones, S.L.