U.S.: BP's 'Giant' Oil Find in the Gulf of Mexico

BP has discovered a "giant" new oil deposit — the Tiber field — in the Gulf of Mexico. Production at the field will present numerous challenges, as the deposit is in relatively deep water and its location will require the construction of new infrastructure. However, the discovery helps the United States at a time when the country is working to increase its energy independence. It is also a boon for Brazil's Petroleo Brasileiro, which owns a stake in the consortium that will be developing the Tiber field.