In 2023, Argentina led in global total support for petroleum in electricity generation with $67.19 million, experiencing a 6.07% increase from the previous year. Brazil saw a decline of 3.99% to $17.49 million, while Greece increased support by 8.2%. Italy witnessed substantial growth at 40.11%, whereas the United States had slight changes with a decrease of 0.0067%. Portugal managed a 9.38% increase, followed by Canada and South Africa, which both saw slight declines. Latvia and Hungary faced significant reductions, and Slovenia maintained stable support levels.
Future trends to monitor include:
- Potential shifts towards sustainable energy sources.
- Impact of policy changes on support structures.
- Economic and geopolitical factors affecting petroleum dependency.
- Technological advancements reducing reliance on petroleum.
Top countries in Total Support on Petroleum for Electricity Generation Share by Country (Million US Dollars, Constant = 2020)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Argentina | 67.19 | 2023 | +7.63% | +6.07% | View data |
| 2 | 2 Brazil | 17.49 | 2023 | -2.74% | -3.99% | View data |
| 3 | 3 Greece | 13.54 | 2023 | +8.21% | +8.2% | View data |
| 4 | 4 Italy | 1.4 | 2023 | +5.08% | +40.11% | View data |
| 5 | 5 United States | 0.44 | 2023 | -2.45% | -0.0067% | View data |
| 6 | 6 Portugal | 0.31 | 2023 | +8.88% | +9.38% | View data |
| 7 | 7 Canada | 0.12 | 2023 | +0.96% | -0.42% | View data |
| 8 | 8 South Africa | 0.086 | 2023 | -0.3% | -0.78% | View data |
| 9 | 9 Latvia | 0.002 | 2023 | -24.18% | -29.02% | View data |
| 10 | 10 Hungary | 0.002 | 2023 | -30.12% | -15.67% | View data |
