Brazil's state-owned oil company Petroleo Brasileiro S.A. (Petrobras) announced the discovery of 5 billion to 8 billion barrels of oil and natural-gas reserves, the largest discovery worldwide in years. Petrobras studies of the offshore Tupi field and a new discovery nearby showed enough oil to increase national oil reserves by more than half and appeared to show enough petroleum to make Brazil one of the top 10 oil producers in the world, the company announced.
NotiSur. "Brazil Announces Discovery Of Massive Oil Reserves." (2007). http://digitalrepository.unm.edu/la_energy_notien/120