Amid a pivot back to its fossil fuel roots and away from renewable energy, Britain's BP said it had made its largest oil and gas discovery in 25 years.

BP is seeking to bolster oil and gas in its portfolio to regain investor confidence and revive underperforming shares.

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