petrostate
Crude-exporting country
A petrostate is a country whose economy and political system are dominated by oil and gas revenues.
The term usually carries negative connotations—suggesting corruption, authoritarian governance, and vulnerability to price swings: Venezuela's collapse illustrated the dangers of becoming a petrostate.
Saudi Arabia, Russia, and Nigeria are commonly cited examples.
Petroleum exporters' coalition
- sanctionsPunitive international restrictions
- diplomacyNegotiation between nations
- hegemonyDominant group's control
- influencePower to affect others
alliances · embargo · cartel · leverage · dependency · proxy · tensions · autocracy
Unpolished, raw state
- drillingHole-making by rotation
- refineryIndustrial purification facility
- barrelHooped cylindrical vessel
- upstreamToward a river's origin
downstream · hydrocarbon · derrick · platform · rig · exploration · pumpjack · reservoir
Lives on investment income
- autocracyRule by one
- monarchyRule by crowned sovereign
- corruptionDishonest abuse of power
- patronageSupporter's financial backing
subsidies · sovereignty · nationalization · NOC · authoritarianism · repression · censorship · migrant labor
National output abbreviation
- revenueBusiness income total
- affluenceAbundance of money
- opulenceShowy, abundant prosperity
- oligarchsWealthy few who govern
investment · luxury · megaprojects · skyscrapers · patronage · subsidies · fiscal · treasury
Gulf kingdom, largest Arabian state
- VenezuelaNorthern South American republic
- KuwaitArabian Peninsula emirate
- UAEGulf state abbreviation
- QatarGulf peninsula emirate
Nigeria · Azerbaijan · Kazakhstan · Angola · Iraq · Libya · Brunei · Equatorial Guinea
OPEC
Petroleum exporters' coalition
- sanctionsPunitive international restrictions
- diplomacyNegotiation between nations
- hegemonyDominant group's control
influence · alliances · embargo · cartel · leverage · dependency · proxy · tensions · autocracy · realpolitik
crude
Unpolished, raw state
- drillingHole-making by rotation
- refineryIndustrial purification facility
- barrelHooped cylindrical vessel
upstream · downstream · hydrocarbon · derrick · platform · rig · exploration · pumpjack · reservoir · seismic
rentier
Lives on investment income
- autocracyRule by one
- monarchyRule by crowned sovereign
- corruptionDishonest abuse of power
patronage · subsidies · sovereignty · nationalization · NOC · authoritarianism · repression · censorship · migrant labor · technocrat
GDP
National output abbreviation
oligarchs · investment · luxury · megaprojects · skyscrapers · patronage · subsidies · fiscal · treasury · billionaires
Saudi Arabia
Gulf kingdom, largest Arabian state
Qatar · Nigeria · Azerbaijan · Kazakhstan · Angola · Iraq · Libya · Brunei · Equatorial Guinea · Turkmenistan
- petroleumcrude oil, crude, oil wells, oil fields, oilfields
- Oil Agecrude oil, gasoline, diesel, fossil fuels, oil industry
- ChavismoHugo Chavez, Venezuela, expropriations
petrostateknowledge economy
System valuing expertise over manufacturing
service economy · industrial economy · innovation hub · tech hub · financial center
petrostategreen economy
Environmentally conscious market system
Costa Rica · Iceland · Denmark