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 ?
But there are monarchies that neither produce oil nor generate petrodollars enough to give away to their citizens.
Why is the country afraid of admitting the harm done by madrassas run predominantly on petrodollars from some of our most reliable allies?
There is the wealth in a lot of countries to be able to support meeting those needs; the challenge is for countries that don't have the same wealth from the petrodollars.
The shift in the destination of petrodollars managed by SWFs is getting more visible in equity markets, where the emerging world is increasingly attracting direct investment.
LONDON: The long-standing support from petrodollars for Western financial markets is gradually waning as oil-rich countries favor recycling their windfall revenues closer to home and away from low-yielding developed economies mired in the debt crisis.
The long-standing support from petrodollars for Western financial markets is gradually waning as oil-rich countries favour recycling their windfall revenues closer to home and away from low-yielding developed economies mired in the debt crisis.
Suicide bombings like Monday's are rare in oil-rich Basra, where several international oil companies are developing some of the country's prized oil fields to bring in the sorely needed petrodollars for postwar reconstruction.
Although sitting on the world's biggest oil and fifth gas reserves, Saudi Arabia is struggling to keep pace with rapidly rising power demand, as petrodollars have fuelled a region-wide economic boom as well as rapid population growth.
Analysts do not expect unrest like in Egypt or Tunisia since the kingdom sits on more than $400 billion in petrodollars, but say the government needs to address social pressures such as the high youth unemployment and extensive housing problems.
Who knows how much in petrodollars Libya's Gaddafi has under his control?
We have emphasized some measures, including the need to avoid depriving Basra from petrodollars as well as investment projects," he added.
While the Kingdom sits on some of the world's largest oil and gas reserves, it has struggled to keep up with rapidly rising power demand as petrodollars have fueled a Gulf-wide economic boom.