Brazil in 'major oil field' find
Further tests are needed to assess the potential of the find
Brazil has discovered what could be the third biggest oil reserve in the world, according to the head of the country's National Petroleum Agency.
The deep-sea find by state-run oil firm Petrobras could yield 33 billion barrels in reserves.
Further tests are required to assess the scale of the find, off the coast of Rio de Janeiro, but analysts say it could have significant implications.
Brazil announced sizeable new gas and oil discoveries last year as well.
In December 2007, Brazil said it had found a new reserve in the Espirito Santo region a month after a reserve in the nearby Tupi oil field of up to eight billion barrels was found.
According to the US Energy Department, Brazil's existing proven oil reserves total 11.8 billion barrels, while the US holds 21.8 billion. 2007
What happened to global warming?
By Paul Hudson
Climate correspondent, BBC News
Average temperatures have not increased for over a decade
This headline may come as a bit of a surprise, so too might that fact that the warmest year recorded globally was not in 2008 or 2007, but in 1998.
But it is true. For the last 11 years we have not observed any increase in global temperatures.BBC
KN: Obama says he wants "Energy Independents". Then start drilling off-shore now. It's all BS!