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 is seeking to bolster oil and gas in its portfolio to regain investor confidence and revive underperforming shares.

BP shares rose by a little over 1% in London trading after the announcement. Energy giant BP says it has made its largest oil and gas discovery this century as it shifts its focus away from renewable energy and back to fossil fuels.