Eestimaa Õlikonsortsium (; ) was an oil shale company located in Sillamäe, Estonia. The company was established in 1926.Holmberg (2008), pp. 106–107 It was a Swedish–Norwegian consortium controlled by Marcus Wallenberg. Main shareholders were Investor AB, AB Emissionsinstitutet, and Norsk Hydro.
The consortium built a tunnel oven in 1928. However, due to recession, production halted in 1930 and was not restarted until 1936, when it was reorganized as Baltic Oil Company.Holmberg (2008), pp. 107–108 A second tunnel oven was added in 1938.Holmberg (2008), p. 272 In 1936, it produced 15,000 tonnes of oil, including 2,400 tonnes of gasoline.
In July 1938, Eestimaa Õlikonsortsium concluded a contract with the German Kriegsmarine to supply shale oil as a ship fuel.Holmberg (2008), p. 119 In 1939, it produced 36,944 tonnes of shale oil.Holmberg (2008), p. 345 After occupation of Estonia by the Soviet Union, the company was nationalized in 1940.Holmberg (2008), p. 129 According to Soviet-Swedish agreement of 1941, the Soviet Union made a one-time payment in 1947, covering only part of the company's value.
See also
Eesti Kiviõli Eesti Küttejõud Esimene Eesti Põlevkivitööstus New Consolidated Gold Fields Oil shale in Estonia
References
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