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 ?
rule the planet, then it should take coordinated actions to prove otherwise, such as rejecting the petro-dollar, boycotting US exports and, most effective of all, withdrawing investments from American banks.
Maybe there is no such thing as being totally independent, but enough to increase security of supply and dampen the big price spikes that sudden moves by the petro-dollar countries can create.
The devaluation will increase fiscal capacity by boosting the amount of local currency the government receives per petro-dollar, though we anticipate large fiscal deficits to remain in place.
The violence of petro-dollar regimes offers the reader a global approach to the subject.
KIRKUK / Aswat al-Iraq: Kirkuk governor called to increase petro-dollar allocations to three dollars per barrel, instead of one, according province's media director.
Another key part of the Iran-led axis, the Shi'ite cabinet of Nuri al-Maleki, has allowed to turn oil-rich Iraq into a petro-dollar cash-cow for the Iranian theocracy, thus letting Tehran skirt many of the OECD sanctions against the latter (see rim2IrqIrnAug27-12).
Saudi Arabia, home to some of the world's largest oil and gas fields, is also expected to finalise its atomic energy plans this year in the face of fast-rising demand for electricy driven by booming petro-dollar spending.
Iran's move is part of its efforts to move away from the hegemony of the petro-dollar.
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.