The new resources were found in Brazil.
Transcript: BP made largest oil and natural gas discovery in the last 25 years. The British company says the newly found resources were discovered in the Santos Basin in Brazil. BP now plans to create a new output hub at the discovery site. This marks BP’s 10th new discovery in 2025.
Of the findings, a BP exec said This is another success in what has been an exceptional year so far for our exploration team, underscoring our commitment to growing our upstream. Brazil is an important country for bp, and our ambition is to explore the potential of establishing a material and advantaged production hub in the country.”
BP has shifted away from renewable energy to refocus its efforts on fossil fuels. The company says its oil and gas production will sit between 2.3 million to 2.5 million barrels per day by 2030.
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