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Petrodollar recycling is the international spending or investment of a country's revenues from petroleum exports ("petrodollars"). [3] It generally refers to the phenomenon of major petroleum-exporting states , mainly the OPEC members plus Russia and Norway, earning more money from the export of crude oil than they could efficiently invest in ...
Petrocurrency (or petrodollar) is a word used with three distinct meanings, often confused: Dollars paid to oil-producing nations ( petrodollar recycling )—a term invented in the 1970s meaning trading surpluses of oil-producing nations.
Costello's, c. 1940. Costello's (also known as Tim's) was a bar and restaurant in Midtown Manhattan, New York City, from 1929 to 1992. The bar operated at several locations near the intersection of East 44th Street and Third Avenue. Costello's was known as a drinking spot for journalists with the New York Daily News, writers with The New Yorker ...
The US dollar is an official currency in Zimbabwe, along with the euro, sterling, the pula, the rand, and several other currencies. A series of Zimbabwean Bond Coins was put into circulation on 18 December 2014 in 1, 5, 10, and 25 cent denominations, and afterwards 50 cent and 1 dollar bonds coins, which are pegged at the same rate as American ...
The Oxford Dictionary of English (ODE) is a single-volume English dictionary published by Oxford University Press, first published in 1998 as The New Oxford Dictionary of English (NODE). The word "new" was dropped from the title with the Second Edition in 2003. [1] The dictionary is not based on the Oxford English Dictionary (OED) – it is a ...
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Petroyuan[1][2] is a form of the official Chinese currency, the yuan intended at least initially for oil trading. [3] On 26 March 2018, the Chinese government issued the first long term oil trading contracts denominated in petroyuans. [4] This project exists to attempt to compete with the U.S. petrodollar as a main currency in crude oil ...
A petrostate, oil state, or petrocracy is a country whose economy is heavily dependent on the extraction and export of oil or natural gas.The presence alone of large oil and gas industries does not define a petrostate: major oil producers that also have diversified economies are not classified as petrostates due to their ability to generate income from various industries and sectors beyond the ...