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 ?
The flow of petrodollar savings over the coming year are expected to hit $70bn, surpassing the level reached during the boom of 2005/07, as the global economy resumes a recovery after the current soft patch.
Petrodollar savings flows over the coming year are expected to hit $70 billion a month, surpassing the level reached during the boom of 2005-2007, as the global economy resumes a recovery after the current soft patch.
The international financial meltdown and the discovery of alternate sources of energy could accelerate the quantum of petrodollar investments, the report suggests.
Finally, in terms of dollars in hand, the tripling of world oil prices since 2002 has made petrodollar investors the largest of the four new power brokers.
Singapore has recently given more attention to developing economic and trade links with Middle East countries with an eye on the region's economic boom and the petrodollar.
Petrodollar warfare; oil, Iraq and the future of the dollar.
Witness, for instance, Steven Emerson's The American House of Saud: The Secret Petrodollar Connection (1985) and the more recent Craig Unger's House of Bush, House of Saud (2004).
When oil monies first come on stream, or when booms occur, rapid petrodollar flows encourage new belief systems about the expansive role of the public sector, new modes of behavior and new vested interests--both inside and outside government.
Right at the bottom of the recession in 1982, the petrodollar recycling wave hit shore.
The project will be financed using petrodollar revenues generated in the province.
Amir-Abdollahian accused the United States of doing nothing to halt "the flow of capital" to extremist groups in neighbouring Syria, while Washington "monitors the tiniest Iranian petrodollar through the international banking system.
THI QAR/ Aswat al-Iraq: Thi Qar governor threatened to stop producing oil if the petrodollar allocations were cut off.