petrostate

British  

/ ˈpɛtrəˌsteɪt /

noun

1. derogatory a small oil-rich country in which institutions are weak and wealth and power are concentrated in the hands of a few

---

Example Sentences

There could be no doubt that Venezuela was now well established as a petrostate.

From The Wall Street Journal

For decades, Venezuela had been a petrostate.

From The Wall Street Journal

Though Venezuela holds the world’s largest proven oil reserves, the petrostate today pumps less than 1% of global crude supplies and much of its production capacity and infrastructure is unfit for purpose.

From The Wall Street Journal

It’s the might of a Gulf petrostate vs. the largest fortune the luxury business has ever known—and they just happen to share the same neighborhood block.

From The Wall Street Journal

“I think the anger, to be righteous in nature, has to be directed at the bad actors who have blocked climate progress: fossil fuel executives and petrostate authoritarians,” Mann said.

From Salon