Petrodollars

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Petrodollars

Deposits by countries that receive dollar revenues from the sale of petroleum to other countries; the term commonly refers to OPEC deposits of dollars in the Eurocurrency market.

Petrodollars

Revenue that state-owned and state-influenced oil companies derive from the sale of oil. In several Middle Eastern countries, petrodollars are the predominant source of government revenue. They are available for investment and are often traded on the eurocurrency market and/or are used for development purposes. For example, Bahrain used petrodollars in the 1970s and 1980s to finance improvements in its industrial capacity. See also: OPEC, Sovereign Wealth Fund.

petrodollars

The funds that are controlled by oil-exporting countries and have been used to pay for oil imports. Petrodollars are a huge pool of funds available for investment and the purchase of goods and services. Although stated in terms of dollars, the term generally refers to all currencies.
References in periodicals archive ?
Assad's fall would bring to an end a crucial bridge for Iran to the Mediterranean, the possibility of Baghdad no longer being able to pump billions of petro-dollars to Tehran and the certainty that the Ahwaz movement in the petroleum- and water-rich Khuzestan province (Arabistan) won't revolt against the "Persian imperialists".
Fuel demand has been soaring in the Middle East over the last few years, thanks to a petro-dollar fuelled economic boom and fuel subsidies, which have driven a spate of refinery expansions and new plant investments from Saudi Arabia to Bahrain.
Bahrain is considered by many banking analysts as the banking capital of the Middle East with the kingdom giving a major push to this sector with favourable regulations for off-shore banking and encouraging its use as a base for managing the Gulf's petro-dollar wealth.
First, petro-dollar funding for terrorism, particularly to Pakistan and Afghanistan, must be cut off.
The group revealed last month that it had become an unlikely beneficiary of the soaring cost of oil, with robust demand for luxury goods from oil-rich customers in oil-producing cities such as Houston and Dallas, as well as petro-dollar regions in the Middle East.
Part II involves the late twentieth century trends that influenced the region such as dollar diplomacy, petro-dollar politics, foreign and domestic alliances *(including the Arab Cold War), regionalism and, now, globalization.
It was also the BIS in its Annual Reports that warned emerging market countries and private sector banks about risking their solvency in the reckless recycling of petro-dollar surpluses of oil-producing countries without due consideration of a possible rise of U.
People are talking about the possibility of the resulting petro-dollar pulling the country out of devastating poverty or further plunging the war-stricken country into calamity as has been the case with some oil-producing countries like Nigeria and Angola.
Interestingly, he refers to Western scholars (known as anti-Islamist) rather than regional sources in supporting the argument of petro-dollar aid to Islamists.
Thanks largely to the American-Saudi-Qatari arms and petro-dollar cash, the terrorist group of ISIL controls large swathes of territory.
The statement highlighted the necessity to encourage establishing private media institutions and artistic production companies to launch new satellite channels and media outlets "to cut down the hegemony of the petro-dollar on Arab, regional and international media".
For instance, their food rations could be transferred to their current residence location and their share in the petro-dollar program could be added to the KRG budget to be spent in helping them out.