Power co approves plans to build shale oil plant

The supervisory board of Estonia’s national power company Eesti Energia approved on Thursday plans to build a shale oil plant using a new, more efficient technology and organize a tender for the construction of up to two new oil shale-fired electricity generation units.

CEO Sandor Liive said the decision to build the complex consisting of the shale oil plant and up to two new generating units is crucial for the future of the Estonian oil shale industry.

“Building a new shale oil plant is Eesti Energia’s next step towards creating a high-quality liquid fuels industry in Estonia and a prerequisite for offering our technologies in other parts of the world,” Liive said.

The planned refinery will use the more environment-friendly, reliable and higher-capacity Enefit technology developed jointly by Eesti Energia and the international engineering company Outotec.

The plant will consume 2.26 million tons of oil shale annually, producing 290,000 tons of shale oil and 75 million cubic meters of carbonization gas used in electric power generation. In addition, a 35-megawatt steam turbine will be integrated into the complex using residual heat of the refining process to produce electricity.

The construction of the unit will start this year and it is to start running in 2011.

The cost of the facility is estimated at close to three billion kroons (EUR 192 mln). The cost of new generating units will become clear along with the outcome of the tenders by the end of 2010 when the final investment decision will be made.

Source: Estonian Investment and Trade Agency
investinestonia.com

Fees of public notaries to go up sharply from June 8

Customers of public notaries will shortly have to pay a lot more for a number of services from June 8, writes Eesti Päevaleht.  The higher tariffs apply for services whose fees are established by law such as attesting power of attorneys, handling of inheritance issues, etc.

Notary fees for attesting a real estate transaction will remain the same.

Read more here: BBN

Deep fall in industrial production

According to Statistics Estonia, in April 2009 compared to April of the previous year, the production of industrial enterprises decreased 34%.

The rapid decrease in industrial production, which had begun at the end of the previous year, continued in April. When in December 2008 the decrease in production was 22% compared to the respective month of the previous year, then in January 2009 the production decreased 26%, in February and March 30%, and in April 34%.

The production in manufacturing fell 36% compared to April of the previous year, which took the production back to the level of 2003. The main reason causing the decline in production was the insufficient demand both in domestic and external markets. The sales in external market fell 40% compared to the April of the previous year, the sales in domestic market decreased 30%.

The production decreased in all branches of manufacturing. Compared to April of the previous year, the manufacture of chemical and metal products, metals, building materials and paper products decreased more than a half. The manufacture of wearing apparel, wood and plastic products, electronic products and electrical equipment, motor vehicles and other manufacturing fell more than 30%. The decline was the smallest (9%) in the branch holding the largest share, i.e. the production of food products, which is predominantly oriented to the internal market consumption.

In April compared to April of the previous year, the production of electricity decreased 20%. At the same time imports of electricity increased 60%. Most of the electricity was imported from Lithuania and Latvia. The consumption of electricity fell 6% due to the decline in business customers’ demand. The production of heat decreased 6%.

In April compared to March, industrial production decreased 3% according to the seasonally adjusted data.

The volume index and trend of production in manufacturing, January 2000 – April 2009
(2005 = 100)

Change in volume index of industrial production, April 2009
(percentages)

Economic activity * Change compared to corresponding
month of previous year
according to
unadjusted data
according to
working-day
adjusted datab
TOTAL -2.9 -35.5 -33.7
Energy production -7.7 -14.8 -14.8
Mining 3.7 -12.3 -10.2
Manufacturing -3.0 -37.4 -35.6
manufacture of food products -0.3 -11.0 -9.4
manufacture of wood and wood products 7.2 -35.0 -33.1
manufacture of fabricated metal products -17.0 -54.6 -52.8
man.of computer, electronic, optical pr -7.2 -33.6 -32.3
man. of electrical equipment -0.3 -36.1 -33.7
man. of chemicals and chemical products 10.1 -57.4 -56.0
manufacture of furniture 7.7 -18.7 -15.9
repair/inst. of machinery and equipment 20.8 -22.4 -20.5
manufacture of building materials 3.0 -57.0 -56.0
manufacture of textiles 0.5 -24.1 -21.0

First  figures * – Change compared
to previous month
according to
seasonally
adjusted dataa

a In case of the seasonally adjusted volume index, the impact of the differing numbers of working days in a month and seasonally recurring factors has been eliminated. It is calculated only in comparison with the previous month.
b In case of the working-day adjusted volume index, the impact of the differing number of working days in a month has been eliminated. It is calculated only in comparison with the corresponding month of the previous year.

Source: Statistics Estonia.

Retail sales decreased, except sales of second-hand goods

According to Statistics Estonia, in April 2009 compared to April of the previous year the retail sales of goods of retail trade enterprises decreased 15% at constant prices.

In April, the retail sales of goods of retail trade enterprises were 4.6 billion kroons. The decrease in the retail sales of goods was most influenced by the stores selling manufactured goods, where the retail sales decreased by a fourth compared to the same period a year ago. The greatest decrease was recorded in the retail sales of other specialized stores and non-specialized stores as well as stores selling household goods and appliances, hardware and building materials.

Compared to April of the previous year, the retail sales of goods decreased in most economic activities, except the retail sale of second-hand goods in stores and other non-store retail sale, which increased 26% during the year. The sales decrease of these stores does not significantly influence the retail sales of goods of retail trade enterprises, because the share of this economic activity is very small, 1% in April 2009.

The decrease of retail sales in grocery stores has slowed down slightly compared to previous months. In these stores the retail sales of goods decreased 5% compared to April 2008.

Compared to March, the retail sales in retail trade enterprises decreased by one per cent at constant prices.

In April the revenues from sales of retail trade enterprises were 5.5 billion kroons, of which the retail sales of goods accounted for about 85%. Compared to April of the previous year, the revenues from sales decreased 19% at current prices. Compared to the previous month, this indicator increased by one per cent.

Retail sales volume index of retail trade enterprises and its trend, January 2002 – April 2009
(the corresponding month of the previous year =100)

 

Source: Statistics Estonia