Sasol, which lost more than R76bn of shareholder equity this week, will accelerate and expand its asset disposal programme and consider a rights issue as part of a package of measures to ensure the company is profitable even with oil prices at their recent lows.

In a statement released on Thursday afternoon, the energy company said it has been hit by an “unprecedented set of combined challenges” driven by the spread of the Covid-19 pandemic and the decline in the oil price, which come at a time when the company has reached peak debt levels as it finishes its US Lake Charles Chemicals Project, which has run 45% over budget.

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