BP announced the discovery of a ‘giant’ oilfield in the Gulf of Mexico last week, but what does it really amount to?

The company issued guidance that the discovery, at its Tiber Prospect in the deepwater US Gulf of Mexico, is bigger than its Kaskida discovery of 2006, which it said was over 3 billion barrels. To put this in context, see my interview on BBC World Business Report broadcast on 2nd September 2009.