Sasol’s woes have been well documented, and they are illustrated by a relentless share price slide from somewhere comfortably north of R600 in 2014 to its current levels around R128. Its latest set of results was a bloodbath, with $6.5bn of asset write-downs taking the group to a loss of R91bn for the year. The company attributed this to unprecedented low oil prices and a collapse in demand for its products, as well as continued delays and cost overruns at its Lake Charles chemicals complex in Louisiana.
What the company needed was a bit of breathing space to get the complex into full production while it continued its search for a partner in the project, instead of which it got Hurricane Laura leaving a trail of destruction in its wake...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.