A new contract will connect the world’s largest shale oil producer with a real-time environmental technology platform, designed to help emissions forecasting and lessen environmental impacts. Environmental intelligence technology company Envirosuite Limited (Envirosuite) will be deploying its Industrial environmental intelligence platform Omnis under a three-year contract to Viru Keemia Grupp (VKG).

Viru Keemia Grupp (VKG) and Kiviõli Keemiatööstus are about to implement a joint project in which they will use the existing shale oil production technology to process plastic waste into oil and gas.

An in-depth analysis conducted by research company KPMG shows that the production of shale oil could create more than 8.2 billion euros worth of national wealth for Estonia in the coming twenty years. The study was commissioned by the Estonian Chemical Industry Association and its aim was to determine the impact of the European climate policy on the competitiveness and long-term sustainability of the sector. According to the conclusions of KPMG’s experts, the concern of the companies in the sector is not unfounded and they give the policy-makers a clear understanding of the choices which the Estonian society faces and what kind of a financial impact the adopted decisions will have.

The sales turnover of Viru Keemia Grupp in the 3rd quarter of 2019 amounted to 57.7 million euros, which is 20% more than in the 3rd quarter of 2018. The net profit grew by 14%, reaching 7 million euros.