Amid a pivot back to its fossil fuel roots and away from renewable energy, Britain's BP said it had made its largest oil and gas discovery in 25 years.

BP has made its largest global oil and gas discovery in 25 years in Brazil's Santos basin, it said on Monday, in what may be a major boost for the British company's strategic shift away from renewable energy to refocus on fossil fuels.

British oil and gas giant BP on Monday announced that it has made its biggest oil and gas discovery in more than two decades thanks to a drilling operation off the coast of Brazil.