Analyzing the historical data of fuel oil refinery output in Finland from 2013 to 2023 reveals fluctuation and a general decline in recent years. The output stood at 13.89 thousand gigawatt-hours in 2023, a slight decline from 2022. Year-on-year variations saw significant changes, including notable decreases in 2014, 2021, and a gradual decline from 2021 to 2023. The output peaked in 2017 but has generally decreased afterward. The five-year CAGR from 2018 to 2023 reflects a negative trend with an average annual decline of -4.31%.
Future forecasts suggest a continuing decline in fuel oil refinery output in Finland, with a projected five-year CAGR of -1.05% from 2024 to 2028. By 2028, the output is forecasted to fall to 13.01 thousand gigawatt-hours, indicating a consistent downward trend.
Future trends to watch for:
- Technological advancements in refining efficiency and alternative energy sources.
- Regulatory changes impacting fuel oil production and consumption.
- Shifts in global fuel oil demand and prices affecting domestic production.
- Environmental policies pushing for a transition towards greener energy.
