In 2023, Argentina leads with a notable $68.59 million investment in petroleum for electricity generation, showing a significant increase of 6.07% from 2022. Brazil follows with $18.1 million, despite a decline of 3.91%. Meanwhile, Greece witnessed a robust growth of 8.2%, elevating its expenditure to $13.8 million. Both the United States and Italy maintained minimal investments with $0.45 million and $0.32 million, respectively, with the U.S. experiencing a slight drop and Italy seeing a 3.72% rise.
Looking ahead, global shifts towards renewable energy may challenge the dependency on petroleum for electricity, potentially leading to reduced investments. However, geopolitical factors and energy policies could influence variations across countries. The focus will likely be on sustainable alternatives, and technological advancements could play a pivotal role in shaping the future landscape.
Top countries in Direct Transfer on Petroleum for Electricity Generation Share by Country (Million US Dollars, Constant = 2020)
| # | 5 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Argentina | 68.59 | 2023 | +7.63% | +6.07% | View data |
| 2 | 2 Brazil | 18.1 | 2023 | -2.71% | -3.91% | View data |
| 3 | 3 Greece | 13.8 | 2023 | +8.21% | +8.2% | View data |
| 4 | 4 United States | 0.45 | 2023 | -2.45% | -0.0067% | View data |
| 5 | 5 Italy | 0.32 | 2023 | +4.46% | +3.72% | View data |
