It’s been a nightmarish 18 months for oil and chemicals group Sasol — and its shareholders, who’ve just had to swallow one of the biggest write-offs in SA corporate history.

While it was the enormous cost overruns at its disastrous Lake Charles Chemicals Project in the US (and with it heaps of dollar-denominated debt) that put the company in a vulnerable position, it was the ultra-low oil price and vanishing demand thanks to the Covid-19 pandemic that really kicked Sasol when it was down.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now