Eestimaa Õlikonsortsium 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] A second tunnel oven was added in 1938.[4] In 1936, it produced 15,000 tonnes of oil, including 2,400 tonnes of gasoline.