In 2023, China led global direct transfers on petroleum for producers with a value of $48.38 million, showing a modest growth of 2.28% from the previous year. Argentina followed with a significant rise of 8.66%, achieving $31.58 million. Indonesia remained stable at $11.73 million. Japan experienced a 5.71% increase to reach $3.06 million. India posted a notable rise of 87.71%, albeit from a smaller base, emphasizing its burgeoning growth. Meanwhile, Azerbaijan and the Netherlands faced declines. Over the past five years, India's gains suggest a CAGR warranting attention as it diversifies its energy portfolio.
Future trends to watch include China's continued dominance, Argentina's significant year-on-year increase signaling potential further expansion, and India's rapid growth from a small base, suggesting an increasing shift in the global petroleum landscape. Monitoring technological advancements and policy changes will be crucial for forecasting future shifts in producer shares.
Top countries in Direct Transfer on Petroleum for Producers Share by Country (Million US Dollars, Constant = 2020)
| # | 9 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 48.38 | 2023 | +0.88% | +2.28% | View data |
| 2 | 2 Argentina | 31.58 | 2023 | +8.19% | +8.66% | View data |
| 3 | 3 Indonesia | 11.73 | 2023 | +7% | View data | |
| 4 | 4 Azerbaijan | 5.51 | 2023 | +37.02% | -1.11% | View data |
| 5 | 5 Japan | 3.06 | 2023 | +0.25% | +5.71% | View data |
| 6 | 6 Canada | 0.8 | 2023 | +25.7% | View data | |
| 7 | 7 India | 0.24 | 2023 | +27.1% | +87.71% | View data |
| 8 | 8 Australia | 0.16 | 2023 | +10.8% | View data | |
| 9 | 9 Netherlands | 0.005 | 2023 | +1.82% | -8.22% | View data |
