Petro-Islam is a neologism used to refer to the international propagation of the extremist and fundamentalist interpretations of Sunni Islam derived from the doctrines of Muhammad ibn Abd al-Wahhab, a Sunni Muslim preacher, scholar, reformer and theologian from Uyaynah in the Najd region of the Arabian Peninsula, eponym of the Islamic revivalist movement known as Wahhabism. This movement has been favored by the Kingdom of Saudi Arabia and the other Arab states of the Persian Gulf.
Ibn Saud, the first king of Saudi Arabia
Petroleum products revenue in billions of dollars per annum for five major Arab petroleum exporting countries. Saudi Arabian production Years were chosen to shown revenue for before (1973) and after (1974) the October 1973 War, after the Iranian Revolution (1978-1979), and during the market turnaround in 1986. Iran and Iraq are excluded because their revenue fluctuated due to the revolution and the war between them.
Pakistan's Faisal Mosque, a gift from Saudi Arabia's King Faisal
Petrodollar recycling is the international spending or investment of a country's revenues from petroleum exports ("petrodollars"). 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 their own economies. The resulting global interdependencies and financial flows, from oil producers back to oil consumers, can reach a scale of hundreds of billions of US dollars per year – including a wide range of transactions in a variety of currencies, some pegged to the US dollar and some not. These flows are heavily influenced by government-level decisions regarding international investment and aid, with important consequences for both global finance and petroleum politics. The phenomenon is most pronounced during periods when the price of oil is historically high.
US Treasury securities, approximately $300 billion accumulated by OPEC governments during 1960–2015
German vehicle factory for Daimler, whose largest consistent shareholder since 1974 has been Kuwait
Itaipu Dam between Brazil and Paraguay, financed by loans from petrodollar bank deposits in the 1970s[self-published source]
Pakistan's Faisal Mosque, constructed 1976–1986, a gift from Saudi Arabia's King Faisal