Petrobras Finds Oil, Gas in Espirito Santo Basin

Petroleo Brasileiro SA, found traces of oil and gas in an offshore well in the .
Petrobras, as the Rio de Janeiro-based company is known, registered signs of oil and gas in the offshore PER block, according to 's National Petroleum Agency. Petrobras also found more oil in a second onshore well in the ES- T-364 block in Espirito Santo state.
Petrobras has not determined if the wells can be developed economically. Source:  Bloomberg