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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.
Petrodollar recycling. Fluctuations of OPEC net oil export revenues since 1972, showing elevated inflation-adjusted levels during 1974–1981 and 2005–2014 [1][2] 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 ...
Since 1971, when U.S. President Richard Nixon ended the dollar convertibility to gold, many foreign currencies emerged trying to replicate the pre-1971 situation. An example of a petrocurrency backed by gold was a project by the Libyan leader Muammar Gaddafi, who released a project to create a multinational African currency, However, this project was discarded because he was overthrown by the ...
Terraxos () 22:40, 3 July 2008 (UTC) [ reply. Keep distinct or mrege to petrodollar. "Petrodollars" meaning OPEC supluses piling up in banks in the late 1970s and early 1980s was the original use, though it was not all in US dollars. The main context was the need for petrodollar recycling aimed at getting this money back into the international ...
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 Society of Petroleum Engineers (SPE) is a 501 (c) (3) [1][2] not-for-profit professional organization. [3][4] SPE provides a worldwide forum for oil and natural gas exploration and production (E&P) professionals to exchange technical knowledge and best practices. SPE manages OnePetro and PetroWiki, in addition to publishing magazines, peer ...
A currency[a] is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. [1][2] A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. [3] Under this definition, the British ...
Petrophysics (from the Greek πέτρα, petra, "rock" and φύσις, physis, "nature") is the study of physical and chemical rock properties and their interactions with fluids. [1] A major application of petrophysics is in studying reservoirs for the hydrocarbon industry. Petrophysicists work together with reservoir engineers and ...