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 ?
Washington's imprudent policies expose its determination to make sure the Saudi government remains committed to the petrodollar standard.
For example, one branch wants to keep the petrodollar afloat while others want to move away from it.
Katusa argues that in order to definitively finish the petrodollar, Russia has launched the project Double Eagle, which consists of an alternative to the SWIFT, an international payment system used today to make international money transactions (in U.
petrodollar revenue is being spent in construction frenzy on ostentatious "white elephants".
Members of the delegation said that Syria is making sacrifices on behalf of the Arab people, rejecting the crimes against the Syrian people committed by the terrorist groups backed by petrodollar regimes.
3 million people has based its economic strategy on becoming a regional financial hub as it lacks much of the petrodollar wealth of its Arab neighbors.
A plan to sabotage the homeland, their institutions and their strengths by supporting the petrodollar," said Rd during the commemoration of the martyrdom of a member of Hezbollah in southern Lebanon.
Jubran Abdulrahman, managing director of gulfBID organisers Hilal Conferences & Exhibitions (HCE), said: "This kind of construction sector spending is unprecedented on a global scale, and is driven by the huge petrodollar revenues the northern Gulf is receiving on theback of high oil prices.
With the strength of the petrodollar, there will be a continued proliferation of business going in and out of the region.
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.
Possible, in large part, thanks to the unfair financial advantage afforded it by governmental petrodollar largesse back in more fiscally sound times.