The new Estonian Oil Shale Industry Yearbook

News

29. August 2017

For a third year in a row the Oil Shale Competence Centre of Virumaa College of the TUT, Viru Keemia Group, Eesti Energia, and Kiviõli Keemiatööstus have published the Estonian Oil Shale Industry Yearbook, which says that, in spite of a very complex situation on the market, this particular branch of industry is still very competitive on the global scale. Irrespective of a low price for crude oil in the beginning of 2016, the total of 63 million of euros was invested into the oil shale industry, 6,400 people found employment, and 103 million of Euros were contributed into state revenue. Estonian oil shale companies are still global market leaders who are making this branch of industry more and more effective, smarter, and less disturbing for the environment as well as manage to achieve new production records through that. 

"The year 2016 was very rich in challenges and forced all of the players in the oil shale sector to adapt to a complicated market situation as well as look for new ways for effective operation. None of that has been an obstacle for VKG in maintaining its sustainable development. There is nothing to hide - any kind of difficulties make us even stronger and motivate us to become even more flexible. However, the backbone of all of our activities are the people, which is why we would like to say the words of gratitude to all of our employees who make their daily contributions into the development of the oil shale industry", said Ahti Asmann, the Chairman of the Board of Viru Keemia Group.

"The best guarantee against fluctuating energy prices is boosting the efficiency. New records in oil production confirm that with the help of a unique technology developed in Estonia, we will be able to use the maximum of the potential of this natural resource. Our strategic goal is a consistent growth in the competitive capacity of oil shale production assets", said Hando Sutter, the Chairman of the Board of Eesti Energia. 

According to the head of the Oil Shale Competence Centre Kalle Pirki, the future of the oil shale industry is determined by research and development activities. "Nowadays the Estonian engineers and scientists are working for the sake of adding the maximum value to oil shale, making this branch of industry even more sustainable and innovative, benefitting the society. We have already proved ourselves as powerful players on the international level by conducting a number of important researches and implementing different projects. In addition to that the standardizing technical committee "Oil shale and processing oil shale products" is also working actively", added Pirk. 

"A drastic decline in global prices for oil that has taken place in recent years jeopardized production capacities achieved in the Estonian Republic throughout decades and caused the dismissal of thousands of people", said Andreas Laane, the Chairman of the Board of Alexela Group. According to him, in moments like that, the government of the Republic has demonstrated statesmanship and, by making quick decisions, created the tax environment which helped the oil shale industry to get over difficult times. "We would like to thank the government for long-term vision and wisdom", added Andreas Laane. 

The  web version of the Yearbook is available here, and the printed copies are available in the technical library.  

The publication of the Oil Shale Industry Yearbook was supported by the European Regional Development Fund