From: LiveMint and The Wall Street Journal
Pallavi Pengonda

Bharat Petroleum Corp. Ltd (BPCL) announced on Tuesday that Petroleo Brasileiro SA (Petrobras), made a new oil discovery in a Brazilian block in which BPCL and Videocon Industries Ltd hold a 20% stake each. Although resource potential details are not available, in general, any discovery is considered positive. BPCL’s stock increased marginally on Tuesday, a day when the BSE Sensex was trading lower. Analysts believe that the chances of success on these fields does increase post discoveries.