Petrobras Strikes New Offshore Hydrocarbon Discovery In Brazil

Petrobras (NYSE:PBR) has made yet another deepwater hydrocarbon discovery in the Campos Basin offshore Brazil, marking another win in its strategy to replenish reserves. The discovery was made  within Block C-M-477, roughly 200 kilometers off the coast of Rio de Janeiro state. Petrobras operates the block with a 70% working interest, alongside BP Plc. (NYSE:BP), which holds the remaining 30%.  Last week, Petrobras signed a $450 million deal with Petronas Petróleo Brasil to acquire the remaining...