Sasol slides on US woes
Troubles at its Lake Charles project have hampered Sasol's plans to expand internationally
Sasol's share price fell the most in 20 years on the JSE on Friday after Sasol postponed the release of its annual results, saying it had not completed a review of problems affecting a giant chemicals project in the US.
The share dropped as much as 16%, the biggest intraday decline since September 1998, as the beleaguered Lake Charles project in Louisiana continued to sap investor confidence. Costs at the flagship development have swelled 50%, from initial estimates to almost $13bn (R197bn), amid weather delays and construction setbacks...