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.

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