In 2023, Mexico led global direct transfers for fossil fuel production at $6.1 billion, stable compared to the previous year. Notably, Canada experienced a significant increase of 194.51%, reaching $2.04 billion. Japan also saw a modest rise of 2.31%, with Indonesia remaining constant. Conversely, Azerbaijan, Colombia, and Norway experienced moderate declines. Russia observed a substantial drop of 42.38%, illustrating a shift in its economic strategy. Smaller countries like Switzerland and the Netherlands showed decreases in direct funding, with the latter being the lowest at $0.00015 billion.
Looking ahead, attention should be given to geopolitical shifts, energy transition policies, and economic strategies affecting subsidies. Emerging regions could become influential players, impacting investment dynamics and providing new opportunities in direct fossil fuel transfers.
Top countries in Direct Transfer on Petroleum for Fossil Fuel Production by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 6,100 | 2023 | +30.73% | View data | |
| 2 | 2 Canada | 2,040 | 2023 | +32.73% | +194.51% | View data |
| 3 | 3 Japan | 1,610 | 2023 | -1.22% | +2.31% | View data |
| 4 | 4 Indonesia | 384.26 | 2023 | +9.54% | View data | |
| 5 | 5 Azerbaijan | 206.72 | 2023 | +37.16% | -1.05% | View data |
| 6 | 6 Colombia | 139.54 | 2023 | -2.69% | -4.6% | View data |
| 7 | 7 Italy | 45.82 | 2023 | -0.43% | -1.9% | View data |
| 8 | 8 Australia | 32.28 | 2023 | +7.87% | +5.9% | View data |
| 9 | 9 Norway | 26.69 | 2023 | -7.16% | -4.73% | View data |
| 10 | 10 Russia | 10.99 | 2023 | -71.74% | -42.38% | View data |
