By Ben Tavener, Senior Contributing Reporter
RIO DE JANEIRO, BRAZIL – Brazilian petroleum giant Petrobras has confirmed that recently-discovered reserves of oil and gas at the Pão de Açúcar well, 121 miles (195km) from the Rio state coastline, amount to over 1.2 billion barrels, following exploration work there. The site, known as Concessão BM-C-33, is located to the south of the Bacia de Campos oil field . . .