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 says plans to create a major new output hub at the Bumerangue discovery in Brazil, which was probably the company's biggest since Shah Deniz in 1999, a gas and condensate field in the Azeri part of

BP HAS made its largest oil and gas discovery since 1999 – a giant find off the coast of Brazil. The Bumerangue prospect is located in the Santos basin, the largest offshore basin in Brazil, 404 km from Rio de Janeiro.