Petrodollars

(redirected from Petro-dollar)
Also found in: Dictionary.

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 ?
While Russia and China have stepped up their alliance to a level where the Russian ruble is an acceptable tender at many places in China, many other countries sitting on oil reserves are naturally averse of petro-dollar. Among these nations Iran and Venezuela are those who have to constantly battle sanctions hurled at them from the cross-Atlantic 'moral' police.
Unless the Muslim world resigns itself to the unpalatable fact that America and its Israeli satellite (or is it the other way around?) 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.
"This fall in petro-dollar income has led to cuts in government spending observed in the last three to six months, which is compounding the situation.
?KRG has vowed if Baghdad fails to pay Kirkuk it share in the federal budget and the petro-dollar budget, KRG would sell Kirkuk oil independently and pay Kirkuk its budget,?
The Scots appear to want to build a Norway-like petro-dollar social democracy.
And tomorrow it will be Gus Poyet's relegation-threatened Black Cats against Manuel Pellegrini's petro-dollar funded, star-studded, mega-bucks, Man City.
It concluded by saying " petro-dollar is smelled in the terrorism hitting Syria, Lebanon and Iraq, and thus the Syrian government calls upon the Lebanese people to stick to the national unity to confront terrorism." Information Minister: Israel, Saudi Arabia and other Gulf states are behind the terrorist attack Meanwhile, Minister of Information Omran al-Zoubi expressed condemnation of the terrorist bombings in Beirut and said they "smell of petro-dollar".
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.