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- Repsol YPF announced its largest-ever oil discovery on Monday, doubling its proven reserves in Argentina and increasing by a third the amount of recoverable oil claimed worldwide by the Spanish-Argentine energy company.

“This changes the map for Argentina,” company spokesman Kristian Rix said, calling the discovery “transformational” for the company as well.

Repsol YPF is based in Spain but operates in more than 30 countries around the world. As of Monday, Argentina is home to two-thirds of its 3 billion barrels of proven oil reserves, up from half.

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