BP Says It Made Largest Find in a Quarter-Century Off Brazil

BP Plc said it made its biggest discovery in 25 years in deep waters off Brazil, a boon for the UK oil major as it seeks to turn around years of underperformance.

BP found an estimated 500-meter (1,640-foot) column of oil and gas at the Bumerangue block in the Santos basin, it said Monday, giving little other detail. The find adds to other discoveries this year in Trinidad & Tobago, the Gulf of Mexico and Egypt.