Brazil's Petrobras announces new oil find

©Reuters/Sergio Moraes

Brazil's oil giant Petrobras announced a new crude find Friday off the country's northeastern coast, AFP reports."It's a nice find," the state-run company's president Graca Foster told reporters.Foster did not provide detailed production estimates, saying only that the discovery was "relevant."The find was located in the Sergipe-Alagoas Basin about 100 kilometers (62 miles) from the coast, Foster added in comments cited by the G1 news website.Last year, Petrobras produced an average of 1.98 million barrels per day, a figure it hopes to double by 2020.