The performance indicators of their Petroter III shale oil plant launched in September 2015 were surpassing expectations, and the €84m investment had been profitable so far despite the slump of the oil shale sector, Viru Keemia Grupp AS (VKG) said on Friday.
In just under a year, the newest plant of VKG produced 136,000 tons of shale oil, which had been sold largely to customers with futures contracts, VKG spokesperson Irina Bojenko told BNS.
Bojenko said that putting the plant in operation had worked without a glitch.
CEO of VKG Ahti Asmann said in a press release that with its economically effective Petroter technology, VKG was making its contribution to meeting the objectives of the Paris climate accord.
Asmann added that in the co-production of oil, energy and heat, the specific emissions of carbon dioxide per energy unit were 80% smaller than if oil shale was burned.
The energy efficiency of all three Petroter plants of VKG exceeds 81% now, and their workload is constantly higher than 100% of nominal capacity. Still, the company sees possibilities for improvement.
One Petroter plant processes approximately one million tons of oil shale per year, producing in addition to shale oil also electricity and thermal energy used to heat nearby towns.
Editor: Editor: Dario Cavegn