BP reported its most important oil and gas discovery in more than 20 years, an offshore find in Brazil that could change the course of the company’s strategy. The Santos Basin Bumerangue is the biggest strike the company has made since Shah Deniz in 1999 landmark that could rekindle investor confidence as BP steps away from recent hegemonic green

BP has made its largest oil and natural gas discovery in 25 years off the coast of Brazil, it said Monday, in a potential big boost for the British company following its strategic shift away from renewable energy to refocus on fossil fuels.

BP has made its largest global oil and gas discovery in 25 years in Brazil's Santos basin, it said on Monday, in what may be a major boost for the British company's strategic shift away from renewable energy to refocus on fossil fuels.