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Giant new oil reserves reported in Mexico

Petroleos Mexicanos, Mexico's state oil company, said Tuesday it has discovered a new field in the southeast of the country with reserves calculated at 1.5 billion barrels. Pemex Director Jorge Diaz Serrano said the field, the Iris-Giraldas complex, could be counted among the giant oil fields in the world. Mexico's total proven reserves now total 45 billion barrels.