YACIMIENTOS PETROLIFÉROS FISCALES.

The flag is blue with a white circle bearing two black rings. The outer ring edges the circle, while the inner surrounds black YPF lettering shaped to fit it.

Y34 is an alternative funnel. Talbot-Booth omits the white circle and places the emblem directly on yellow; Merchant Ships 1942 notes this error.

The funnel comes from the Mitchell collection; no separate verbal comparison is supplied.