Petrodollars


Also found in: Dictionary, Wikipedia.

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 ?
Forget the complete lack of dignity that Islamabad has embraced by reducing its role to that of a watchdog, in exchange for petrodollars, these services blatantly contradict Pakistan's own interests.
The U.S.-Saudi economic arrangement came to be known as the petrodollar system.
For decades, almost every corner of the economy has depended on lavish flows of petrodollars, so the austerity is bad news for Saudi corporate earnings.
But the foreign ministry official insisted that Iran, pursuing its policy of economic resistance, is planning to rely less and less on petrodollars.
That means we're still at risk, he said, adding that petrodollars or foreign inflows from oil-exporting countries had been partly driving the local market in recent years.
Saeidi said all the new vessels will be operational by 2020 and that the funds for purchasing them will be provided from billions of petrodollars that have been frozen in international banks and are expected to be released once the sanctions are lifted.
Those measures -- which finally brought Iran to the table to discuss curbs to its nuclear work -- cut its exports by more than half and cost it billions a month in lost petrodollars.
The president assured all Iranians that his administration "is able to run the country properly at this oil price." He said falling prices would help the government wean the country's economy off petrodollars.
In June, Rouhani warned that Muslim states which funnel petrodollars to jihadist fighters wreaking havoc in Iraq will become their next target.
The massive influx of petrodollars into the GCC throughout the decade created a seismic shift in power for global finance.
TEHRAN - Iran's President Hassan Rouhani warned on Sunday that Muslim states which funnel petrodollars to jihadist Sunni fighters wreaking havoc in Iraq will become their next target.Rouhani did not name any country, but officials and media in mainly Shiite Iran have hinted that insurgents from the Islamic State in Iraq and the Levant (ISIL) are being financially and militarily supported by Saudi Arabia and Qatar."I advise Muslim countries that support the terrorists with their petrodollars to stop," Rouhani said in remarks reported by the website of Iran's state broadcaster."Tomorrow you will be targeted...
President Hassan Rouhani recently submitted the budget bill for next calendar year to parliament, saying increased petrodollars and higher tax revenues are focused upon in the draft.