Company type | Private limited company |
---|---|
Industry | Oil and gas |
Founded | 1926 |
Defunct | 1940 |
Fate | Nationalized |
Successor | Baltic Oil Company Silmet |
Headquarters | , |
Key people | Mathias Westerblom (Director) |
Products | Shale oil |
Production output | 36,944 tonnes of shale oil (1939) |
Owner | Marcus Wallenberg |
Number of employees | 870 (1938) |
Eestimaa Õlikonsortsium ( Swedish: Estländska Oljeskifferkonsortiet; English: Estonian Oil Consortium) was an oil shale company located in Sillamäe, Estonia. The company was established in 1926. [1] [2] It was a Swedish– Norwegian consortium controlled by Marcus Wallenberg. Main shareholders were Investor AB, AB Emissionsinstitutet, and Norsk Hydro. [1]
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. [3] [4] A second tunnel oven was added in 1938. [5] In 1936, it produced 15,000 tonnes of oil, including 2,400 tonnes of gasoline. [3]
In July 1938, Eestimaa Õlikonsortsium concluded a contract with the German Kriegsmarine to supply shale oil as a ship fuel. [6] In 1939, it produced 36,944 tonnes of shale oil. [7] After occupation of Estonia by the Soviet Union, the company was nationalized in 1940. [8] 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. [4]
Company type | Private limited company |
---|---|
Industry | Oil and gas |
Founded | 1926 |
Defunct | 1940 |
Fate | Nationalized |
Successor | Baltic Oil Company Silmet |
Headquarters | , |
Key people | Mathias Westerblom (Director) |
Products | Shale oil |
Production output | 36,944 tonnes of shale oil (1939) |
Owner | Marcus Wallenberg |
Number of employees | 870 (1938) |
Eestimaa Õlikonsortsium ( Swedish: Estländska Oljeskifferkonsortiet; English: Estonian Oil Consortium) was an oil shale company located in Sillamäe, Estonia. The company was established in 1926. [1] [2] It was a Swedish– Norwegian consortium controlled by Marcus Wallenberg. Main shareholders were Investor AB, AB Emissionsinstitutet, and Norsk Hydro. [1]
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. [3] [4] A second tunnel oven was added in 1938. [5] In 1936, it produced 15,000 tonnes of oil, including 2,400 tonnes of gasoline. [3]
In July 1938, Eestimaa Õlikonsortsium concluded a contract with the German Kriegsmarine to supply shale oil as a ship fuel. [6] In 1939, it produced 36,944 tonnes of shale oil. [7] After occupation of Estonia by the Soviet Union, the company was nationalized in 1940. [8] 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. [4]