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...

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