Petrobras Discovers New Oil Off Brazil's Coast
Brazilian state-run oil company Petrobras announced a new oil discovery in ultra-deep waters off the coast of Amapa state, an area known as the equatorial margin which the company views as its most promising new oil frontier. An oil-bearing interval was found.
Brazilian state-run oil company Petrobras BMFBOVESPA:PETR3 said on Friday it had made a new oil discovery in ultra-deep waters off Amapa state, in an area known as the equatorial margin that it considers its most promising new oil frontier. According to a securities filing, an oil-bearing interval was found.