Two big oil finds in a row for Brazil

Brazil drew oil markets’ attention again on Friday when it announced its second major oil find in a week, a field that may be bigger than a 4.5-billion-barrel find announced earlier this week.

The two new finds announced by Brazil’s national oil regulator, the ANP, will provide the government with the needed collateral to inject billions of dollars into the state-run oil company Petrobras in exchange for a bigger federal stake in the company.

edmonton journal