THE BIG READ
Resurgent Sasol resets emission targets
After surviving oil price drop, firm moves towards greener future
Sasol, back at last on a sound operational footing with a healthy balance sheet, is now gearing itself up to face one of its biggest challenges yet: how to market itself to new and existing investors in a world that has fallen out of love with fuel companies.
After shares in Sasol hit a low around R20 in March last year amid a global oil price collapse and concerns about spiralling debt, many could have been forgiven for thinking the end was nigh for the more than 70-year-old energy and chemicals company. But thanks to a herculean effort by its management team under CEO Fleetwood Grobler, the group has made a dramatic comeback, not only in terms of share price performance (the shares closed at R196.10 on Friday), but also operationally and financially...
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