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One of the three major oil shale producers in Estonia, Viru Keemia Grupp (VKG), reported a 75 percent fall in profit for 2020. The sector, a major employer in Ida-Viru County, is being transitioned out of in the coming decades, principally to meet European Union climate change goals.
VKG s profit was €8.9 million in 2020, the company says, as noted 75 percent down on year, while revenues also fell – by 19 percent – to €208 million, BNS reports.
The company says that despite this, the slump in oil prices in the early part of 2020, and the coronavirus pandemic, which also led to reduced demand for electricity – often generated by power stations which burn shale oil – the company remained competitive and did not need to seek state aid. ....

Jaanis Sepp , Eesti Energia , Alexela Group , Ida Viru County , Oil Shale Sector , Coronavirus Crisis Economic Effects , ஐடா வீறு கவுண்டி , எண்ணெய் ஷேல் துறை ,