nginx: [emerg] host not found in upstream - nginx

Question

I'm trying to setup a new site on my server, I've updated the nginx settings to redirect the new site, created the directories, setup the correct permissions and created the DNS entries on my domain.
However when I restart nginx I get the following error:
nginx: [emerg] host not found in upstream "petproject" in
/usr/local/nginx/conf/nginx-vhosts.conf:277 nginx: configuration file
/usr/local/nginx/conf/nginx.conf test failed
Could someone tell me how to fix this? I have identical settings with a different domain and directory and it works fine so I can't quite pinpoint whats wrong here.
I have included my nginx.conf below.
server {
listen 217.23.14.107:80;
server_name petproject.com;
access_log /var/log/nginx/petproject.com_access.log;
error_log /var/log/nginx/petproject_error.log;
root /home/petproject/laravel/public;
location ~* \.(jpg|jpeg|gif|css|js|ico|rar|gz|zip|pdf|tar|bmp|xls|doc|swf|mp3|avi|png|htc|txt|htc|flv$
access_log off;
expires 7d;
}
location / {
index index.php index.html index.htm;
proxy_pass http://petproject:8080;
proxy_redirect off;
proxy_set_header Host $host;
proxy_set_header X-Real-IP $remote_addr;
proxy_set_header X-Forwarded-For $proxy_add_x_forwarded_for;
client_max_body_size 10m;
client_body_buffer_size 128k;
proxy_connect_timeout 90;
proxy_send_timeout 90;
proxy_read_timeout 90;
proxy_buffer_size 4k;
proxy_buffers 4 32k;
proxy_busy_buffers_size 64k;
proxy_temp_file_write_size 64k;
}
# deny access to apache .htaccess files
location ~ /\.ht
{
deny all;
}
}