April 23, 2020 / 5:29 AM / a month ago

BRIEF-Sasol Ltd Sees FY20 Liquid Fuels Sales Volumes At 50 mln-51 mln barrels

April 23 (Reuters) - Sasol Ltd:

* JSE: SOLBE1 - SOL - BUSINESS UPDATE, PRODUCTION AND SALES METRICS FOR THE NINE MONTHS ENDED 31 MARCH 2020

* SASOL LTD - NO EMPLOYEE HAS TESTED POSITIVE FOR COVID-19 AT OUR SOUTH AFRICAN OPERATIONS.

* SASOL LTD - LOCKDOWN IN SOUTH AFRICA CONTINUES TO HAVE A SIGNIFICANT IMPACT ON FUEL DEMAND.

* SASOL LTD - CHEMICALS USED IN MINING AND CONSTRUCTION SECTORS HAVE ALSO SEEN A REDUCTION IN DEMAND

* SASOL LTD - SSO’S RESIDUAL OPERATING CAPACITY IS PRIORITISING CHEMICALS PRODUCTION FOR SUPPLY TO DOMESTIC AND EXPORT MARKETS.

* SASOL LTD - FUEL DEMAND IS BEING CLOSELY MONITORED IN LIGHT OF TWO WEEK EXTENSION OF LOCKDOWN IN SOUTH AFRICA.

* SASOL LTD - WILL IMPLEMENT A 20% TO 40% REDUCTION IN DIRECTORS’ FEES.

* SASOL - TO IMPLEMENT A TWO-PART SALARY SACRIFICE FOR PRESIDENT, CEO WHICH ENTAILS A DONATION OF 33% OF CEO’S SALARY FOR 3 MONTHS TO SOLIDARITY FUND

* SASOL LTD - WILL IMPLEMENT SALARY SACRIFICES FOR GROUP EXECUTIVE COMMITTEE AND SENIOR LEADERSHIP MEMBERS OF 20%,

* SASOL LTD - WILL IMPLEMENT SALARY SACRIFICES MIDDLE TO JUNIOR MANAGEMENT LEVELS RANGING FROM 15-10%

* SASOL LTD - AIMS TO SUSTAIN LIQUIDITY HEADROOM ABOVE US$1 BILLION FOR FORESEEABLE FUTURE

* SASOL LTD - SASOL MINING’S FULL YEAR PRODUCTIVITY IS EXPECTED TO RANGE BETWEEN 1 130-1 180 TONS PER CONTINUOUS MINER PER SHIFT

* SASOL LTD - LIQUID FUELS SALES VOLUMES ARE EXPECTED TO BE APPROXIMATELY 50-51 MILLION BARRELS FOR FINANCIAL YEAR 2020.

* SASOL LTD - SSO PRODUCTION FOR FULL YEAR IS FORECASTED TO DECREASE TO APPROXIMATELY 7,3-7,4 MILLION TONS

* SASOL LTD - CHEMICALS PRODUCTION WILL BE PRIORITISED WITHIN REVISED SSO OPERATING PARAMETERS.

* SASOL LTD - EBITDA CONTRIBUTION FROM LCCP FOR FINANCIAL YEAR 2020 HAS BEEN REVISED TO A LOSS OF BETWEEN US$50-US$100 MILLION Source text for Eikon: Further company coverage:

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