BP has made its biggest oil and gas discovery in 25 years after drilling a successful well in a field off the coast of Brazil, in a boost to the energy group as it refocuses on fossil fuels. The Bumerangue field lies in the Santos Basin,

BP said on Monday it has made its largest oil and gas discovery in 25 years in Brazil's Santos basin, a so-called pre-salt area in deep water offshore which is believed to be a large reservoir of oil and gas.