As traditional oil fields yield less and less, major producers are looking for crude in less conventional places, from oil sands and shale plays to ultra deepwater.
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Officials, including Mr Gabrielli, argue that since drilling in the pre-salt is now almost certain to yield oil, the rewards for investors in new blocks should reflect this lower exploration risk.
The company said it could prove to yield more oil than Alaska's Prudhoe Bay.
Chevron is also near the top of oil majors in earnings yield.
But before a test well has been drilled, it is near-impossible to be sure whether the geological idiosyncrasies that excite oilmen will yield either oil or gas (or sometimes both, and often nothing).
For their calculations, the two assumed that where there was a gap between demand and conventional supply it would be filled with synthetic fuels, first with tar-sands oil and later with oil from coal and shale. (According to high-end estimates, coal and oil shale could together yield some ten trillion barrels of unconventional crude.) They then calculated what the impact would be on global carbon-dioxide levels.
With a flat bond yield curve and oil quots moving lower, the oils are in for a tough year.
And to me it seems quite unlikely that world net production (production minus the oil product use needed to yield that production) will grow by that much.
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For example, the Amazon pupunha-a is a fruit that can yield twice as much starch as Iowa corn, and the Amazonian babassu palm gives the world's highest yield of vegetable oil.
Providence Resources Plc, an Irish and UK company, has confirmed its Barryroe site, 30 miles off the Cork coast, should yield 280m barrels of oil.
The yen, yielding just 0.5%, was a cheap source of borrowed funds to buy much higher-yielding currencies like the New Zealand dollar, oil, U.S. high-yield bonds or even gold.
Norton said that even with the reduction in size, the proposed leases will still yield and estimated 185 billion barrels of oil and 1.25 trillion cubic feet of natural gas.
There Browne began to take a harder look at the promise of deepwater drilling, largely out of necessity:He took charge of exploration and determined that Sohio's oil projects outside of Alaska were a mishmash of expensive properties that would never yield a proper profit.
The second largest integrated oil and gas company, behind Exxon Mobil ( XOM), has a current dividend yield of 5%.
"Now that oil prices have dropped, that may put pressure on companies to issue with a higher yield, " Mr. Wolman said.
Corn is indeed a renewable resource, but it has a far lower yield relative to the energy used to produce it than either biodiesel (such as soybean oil) or ethanol from other plants.
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The PowerShares DB Oil ETF attempts to minimize the negative effects of contango by buying the contract month with the highest effective roll yield when necessary.
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