Eestimaa Õlikonsortsium (; ) was an

oil shale Oil shale is an organic-rich Granularity, fine-grained sedimentary rock containing kerogen (a solid mixture of Organic compound, organic chemical compounds) from which liquid hydrocarbons can be produced. In addition to kerogen, general compos ...

company located in

Sillamäe Sillamäe (Estonian for 'Bridge Hill'; also known by the Germanised names of ''Sillamäggi'' or ''Sillamägi'') is a town in Ida-Viru County in the northeastern part of Estonia, on the southern coast of the Gulf of Finland. It has a population o ...

, 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 Investor AB is a Swedish investment and holding company, often considered a ''de facto'' conglomerate. One of Sweden's largest companies, Investor AB serves as the investment arm of the prominent Swedish Wallenberg family; the family's compani ...

, AB Emissionsinstitutet, and

Norsk Hydro Norsk Hydro ASA (often referred to as just ''Hydro'') is a Norway, Norwegian aluminium and renewable energy company, headquartered in Oslo. It is one of the largest aluminium companies worldwide. It has operations in some 50 countries around th ...

. The consortium built a tunnel oven in 1928. However, due to

recession In economics, a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be tr ...

, 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 The (, ) was the navy of Nazi Germany from 1935 to 1945. It superseded the Imperial German Navy of the German Empire (1871–1918) and the inter-war (1919–1935) of the Weimar Republic. The was one of three official military branch, branche ...

'' 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.

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* {{DEFAULTSORT:Eestimaa Olikonsortsium Oil shale companies of Estonia Defunct energy companies of Estonia Defunct oil companies Sillamäe Synthetic fuel companies Energy companies established in 1926 Non-renewable resource companies established in 1926 Non-renewable resource companies disestablished in 1940 1926 establishments in Estonia 1940s disestablishments in Estonia Companies nationalised by the Soviet Union

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