BG Group finds more Brazilian oil

BG Group reported another success in Brazil yesterday after its Iara Horst well struck good quality oil in a thick reservoir section. The offshore well, 230km off the Rio de Janeiro coast, has found better oil than that struck two-and-a-half years ago in the original discovery well 8km away. The firm said partner Petrobras, which owns a 65 per cent stake, will continue evaluation work this year.