Repsol is Spain's largest oil company, and one of the world's ten biggest. Its biggest shareholder is Spanish construction group Sacyr Vallehermoso.
Until recently, its upstream assets have been dominated by Argentina, where it controls former state oil company YPF, but it is steadily selling its stake and building up operations elsewhere.
In recent years, Repsol has been bolstered by a series of massive discoveries in Brazil's Santos Basin, from an ultra-deep-lying layer of hydrocarbons known as "pre-salt".
Its
