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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Unsurprisingly, this type of offering has wooed the hearts of higher-end clients, such as the upper echelons of real estate developers, architectural and engineering companies, as well as governments rolling in petro-dollars that have pledged themselves to make their cities more green.
While the oil barons of Chelsea and Manchester City roll out the barrels and count the petro-dollars, Brendan Rodgers's side have emerged as the discerning judges' preferred choice now the title race is down to three contenders.
I refer of course to the possibility and slight suspicion that a few Qatari petro-dollars had found their way into pet projects favoured by key individuals within Fifa.
Every political group vying for the popular vote knew that once they controlled the oil fields, their road would be paved with petro-dollars. And this is exactly how it panned out with the MPLA regime whose tenure and brutality was guaranteed by oil.
"The UAE still depends mostly on petro-dollars for the economy.
But on Saturday, Oil Minister Rostam Qasemi said that Anglo-Dutch energy giant Shell was among the firms that owes Tehran petro-dollars which the Islamic republic can not repatriate due to sanctions.
Il n'hesite pas a user de ses petro-dollars pour financer des mouvements d'opposition de certains pays arabes et a organiser des conferences internationales dans sa capitale Doha.
Sitting on the world's biggest proven crude oil deposits, Chavez has used petro-dollars to build a network of regional allies and secure the loyalty of poor Venezuelans dependent on the generosity of his social programs.
Sitting on the world's biggest proven crude oil deposits, ChEivez has used petro-dollars and cut-rate crude deals to build a network of allies around the region.
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".
While the US and EU sanctions make it more difficult for Iran to pay for euro- and dollar-denominated goods, and for it to receive petro-dollars, business with Asian customers have an advantage.
"The GCC continues to be flush with liquidity as a result of global energy prices and the petro-dollars trickling down to the economy mostly through infrastructure spending by the government," he said.