Oil-price volatility continues to weigh on Sasol, whose share price is almost 40% off its record high. Oil prices fell below $50 a barrel this week, their lowest point since November. Sasol joint CEO Stephen Cornell said in an interview that the petrochemical group expected oil prices to remain volatile in the medium term, ranging from $45 to $60 a barrel. "It is going to have lots of movement given the different drivers in the market." Fellow CEO and Sasol president Bongani Nqwababa said the company remained profitable at $40 a barrel. To deal with a volatile oil market, Sasol has taken out a hedge on its oil price to enable it to sell 30 million barrels at a floor price of $47.74 a barrel for financial 2017. The company also took out options for 12.75 million barrels at a floor price of $49.75 a barrel for the next year. Oil prices fell more than 15% this year, erasing most of the gains made since the 12 members of the Organisation of Petroleum Exporting Countries (Opec) agreed in...
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