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Sasol Ltd (SOLJ.J)

SOLJ.J on Johannesburg Stock Exchange

28,799.00ZAc
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Latest Key Developments (Source: Significant Developments)

Sasol Says 2020 LCCP EBITDA Guidance Adjusted From $300-350 Mln To $150-300 Mln
Monday, 26 Aug 2019 

Aug 26 (Reuters) - Sasol Ltd ::UPDATE ON SASOL’S LAKE CHARLES CHEMICALS PROJECT ETHANE CRACKER UNIT.CURRENTLY HALFWAY THROUGH ACHIEVING OUR 72 HOUR BENEFICIAL OPERATION PRODUCTION TEST RUN ON ETHANE CRACKER..ON 24 AUGUST 2019, REACHED IMPORTANT MILESTONE OF PRODUCING ETHYLENE AT LCCP THAT MEETS FEEDSTOCK REQUIREMENTS OF SOME OF OUR DOWNSTREAM UNITS.ETHYLENE PRODUCED MARGINALLY BELOW POLYMER GRADE SPECIFICATION DUE TO ACETYLENE REACTOR SYSTEM NOT PERFORMING AS EXPECTED AT LAKE CHARLES.EFFORTS TO UPGRADE ETHYLENE TO POLYMER GRADE SPECIFICATION ARE UNDERWAY WITH SUPPORT OF CATALYST SUPPLIER AND TECHNOLOGY LICENSOR.CURRENTLY OPERATING PLANT AT LAKE CHARLES STABLY AT A CAPACITY UTILISATION OF AROUND FIFTY PERCENT WHICH IS IN LINE WITH OUR RAMP-UP PLAN.ABILITY TO MANAGE FACILITIES, MEET PRODUCTION NEEDS IN US ALLOWS CO FLEXIBILITY TO CONSUME ETHYLENE PRODUCED INTERNALLY, PLACE IT EXTERNALLY.REGARDING LAKE CHARLES, FURTHER RAMP UP IN VOLUMES WILL BE EXECUTED AS CURRENT OPERATIONAL ISSUES ARE RESOLVED.LCCP EBITDA GUIDANCE FOR 2020 FINANCIAL YEAR HAS BEEN ADJUSTED FROM US$300-350 MILLION TO US$150-300 MILLION.NOTWITHSTANDING REVISIONS TO BENEFICIAL OPERATION DATES, COST GUIDANCE FOR LCCP OF US$12,6-12,9 BILLION REMAINS UNCHANGED.ON LCCP, REMAIN CONFIDENT THAT INCREMENTAL COSTS RESULTING FROM DELAY CAN BE ABSORBED WITHIN EXISTING BASE COST AND CONTINGENCY BUFFER.  Full Article

Huntsman To Buy Remaining 50% Interest In Sasol-Huntsman JV
Saturday, 27 Jul 2019 

July 27 (Reuters) - Huntsman Corp ::HUNTSMAN ANNOUNCES ACQUISITION OF REMAINING 50% INTEREST IN SASOL-HUNTSMAN JOINT VENTURE.HUNTSMAN WILL PAY SASOL $92.5 MILLION, ADJUSTED FOR DEBT AND OTHER AGREED UPON TERMS,.DEAL FUNDED FROM AVAILABLE LIQUIDITY.JOINT VENTURE OWNS A MANUFACTURING FACILITY IN MOERS, GERMANY WITH CAPACITY TO PRODUCE 230 MILLION POUNDS OF MALEIC ANHYDRIDE.  Full Article

Sasol Signs $1.8 Bln Senior Credit Facilities
Friday, 7 Jun 2019 

June 7 (Reuters) - Sasol Ltd ::SASOL SIGNS US$1,8 BILLION SENIOR CREDIT FACILITIES.FACILITIES, WHICH HAVE A TENOR OF FIVE YEARS, WILL BE USED TO REFINANCE IN FULL OUTSTANDING LAKE CHARLES CHEMICAL PROJECT ASSET FINANCE LOAN.UNSECURED CREDIT FACILITIES COMPRISED OF A $1,65BN TERM LOAN FACILITY AND A $150M REVOLVING CREDIT FACILITY.  Full Article

Sasol Achieves Beneficial Operation Of Second LCCP Production Unit
Monday, 3 Jun 2019 

June 3 (Reuters) - Sasol Ltd ::SASOL ACHIEVES BENEFICIAL OPERATION OF SECOND LCCP PRODUCTION UNIT; RATINGS AND FUNDING COVENANT UPDATE.EO FACILITY ACHIEVED BENEFICIAL OPERATION ON 31 MAY 2019.STILL EXPECTS PEAK GEARING IN FY19 AND WITH NET DEBT TO EBITDA FOR FY19 REMAINING WITHIN 2,0 - 2,3X GUIDANCE RANGE.CONTINUES TO TAKE ACTIONS TO MITIGATE IMPACT OF LCCP'S REVISED CAPITAL COST ON BUSINESS.  Full Article

Sasol Says Raises Cost Estimate For Lake Charles Chemicals Project By About $1 Bln
Wednesday, 22 May 2019 

May 22 (Reuters) - Sasol Ltd ::UPDATE ON THE LAKE CHARLES CHEMICALS PROJECT.A NUMBER OF CHANGES WERE MADE TO MANAGEMENT OF LCCP.COST ESTIMATE FOR LCCP HAS BEEN REVISED TO A RANGE OF $12,6 TO $12,9 BILLION WHICH INCLUDES A CONTINGENCY OF $300 MILLION.REVIEW IDENTIFIED SIGNIFICANT ADDITIONAL CONCERNS RELATED TO LCCP FORECASTING PROCESS AND A MARKED INCREASE IN PROJECTED TOTAL COST.PROJECT ACCOUNTABILITY IMMEDIATELY REASSIGNED TO EXECUTIVE VICE PRESIDENT OF CHEMICALS, FLEETWOOD GROBLER.REVIEW ALSO CONFIRMED THAT ACTUAL PROJECT EXPENDITURE (AS AT 31 DECEMBER 2018) AMOUNTING TO $10,9 BILLION WAS ACCURATE AND COMPLETE.WEAKNESSES IN LAKE CHARLES CHEMICALS PROJECT INTEGRATED CONTROLS WERE IDENTIFIED AND ARE BEING REMEDIATED.ADDITIONAL EVENTS AND REMAINING WORK IMPACTING FEBRUARY 2019 COST FORECAST - APPROXIMATELY $470 MILLION REGARDING LCCP.COMMISSIONED A REVIEW TO BE CONDUCTED BY INDEPENDENT EXTERNAL EXPERTS.REVIEW WILL COVER CIRCUMSTANCES THAT MAY HAVE DELAYED PROMPT IDENTIFICATION AND REPORTING OF MATTERS RELATED TO LAKE CHARLES CHEMICALS PROJECT.FIRST DERIVATIVE UNIT, LINEAR LOW DENSITY POLYETHYLENE, ACHIEVED BENEFICIAL OPERATION ON 13 FEB & CONTINUES TO RAMP UP IN LINE WITH VIEW.ACHIEVED BENEFICIAL OPERATION OF ETHYLENE GLYCOL UNIT (EG), WITH BENEFICIAL OPERATION OF ETHYLENE OXIDE UNIT (EO) EXPECTED IN COMING DAYS.ETHANE CRACKER IS STILL EXPECTED TO ACHIEVE BENEFICIAL OPERATION IN JULY 2019.ADJUSTMENTS TO FEBRUARY 2019 COST FORECAST - APPROXIMATELY $530 MILLION.  Full Article

Sasol Says Productivity Rate Improved By 10 Pct From Previous Year To 1 170 T/Cm/S For Period Ending March 31
Thursday, 18 Apr 2019 

April 18 (Reuters) - Sasol Ltd ::SASOL PUBLISHES PRODUCTION AND SALES METRICS FOR THE NINE MONTHS ENDED 31 MARCH 2019.EXPECT TO ACHIEVE OUR PRODUCTION TARGET OF BETWEEN 114 - 118 BSCF FOR FY19.PRODUCTIVITY RATE IMPROVED BY 10% FROM PREVIOUS YEAR TO 1 170 T/CM/S FOR PERIOD ENDING 31 MARCH 2019.CURRENT INDICATIONS ARE THAT MINING WILL ACHIEVE PRODUCTION LEVELS OF APPROXIMATELY 38 MILLION TONS FOR FULL YEAR.CHEMICALS BUSINESSES ARE EXPERIENCING SOFTER PRICES IN SOME END-MARKETS.BASE CHEMICALS DELIVERED A STRONG PERFORMANCE IN Q3 FY19 WHICH RESULTED IN A 9% IMPROVEMENT IN VOLUMES COMPARED TO Q2.GROUP BENEFITTED FROM WEAKER EXCHANGE RATE DURING PERIOD ENDING 31 MARCH 2019 COMPARED TO PRIOR YEAR.TRACKING SCHEDULE AND UPPER END OF COST ESTIMATE PROVIDED TO MARKET IN FEBRUARY FOR LAKE CHARLES CHEMICALS PROJECT.ON TRACK TO ACHIEVE UPPER END OF PREVIOUS SALES VOLUMES MARKET GUIDANCE OF APPROXIMATELY 57 - 58 MILLION BARRELS FOR ENERGY BUSINESS FOR 9 MONTHS.  Full Article

Sasol Officially Opens Another Coal Mine
Friday, 12 Apr 2019 

April 12 (Reuters) - Sasol Ltd ::SASOL OFFICIALLY OPENS ANOTHER COAL MINE.SASOL - WITH AN INVESTMENT OF R5, 6 BILLION, IMPUMELELO WILL HAVE CAPACITY TO PRODUCE 10,5 MILLION TONS PER ANNUM.  Full Article

Eastman Acquires Marlotherm From Sasol
Monday, 1 Apr 2019 

Eastman Chemical Co ::EASTMAN ACQUIRES MARLOTHERM FROM SASOL.EASTMAN CHEMICAL CO - TERMS OF TRANSACTION WERE NOT DISCLOSED..EASTMAN CHEMICAL-THE NEW HEAT TRANSFER PRODUCT LINE TO BECOME A PART OF EASTMAN'S SPECIALTY FLUIDS BUSINESS IN ADDITIVES & FUNCTIONAL PRODUCTS SEGMENT.  Full Article

Sasol Says HY HEPS R23,25
Monday, 25 Feb 2019 

Feb 25 (Reuters) - Sasol Ltd ::REVIEWED INTERIM FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2018.HY CORE HEADLINE EARNINGS PER SHARE UP 18 PCT TO R21,45.HY TURNOVER 102,944 MILLION RAND VERSUS 88,153 MILLION RAND REPORTED A YEAR EARLIER.DECLARED A GROSS INTERIM DIVIDEND OF R5,90 PER SHARE.HY HEADLINE EARNINGS PER SHARE R23,25.SEES CAPITAL EXPENDITURE, INCLUDING CAPITAL ACCRUALS, OF R52 BILLION FOR 2019 AND R30 BILLION FOR 2020.EXPERIENCED SOME CHALLENGES WITH REGARDS TO OPERATIONAL PERFORMANCE IN Q1, LARGELY DUE TO EXTENDED PLANNED SHUTDOWN AT SSO.DELIVERED A STRONGER OPERATIONAL PERFORMANCE IN Q2 AND ARE MAINTAINING STABLE OPERATIONS.  Full Article

S.A's Solidarity Says Solidarity Members To Serve Court Papers On Sasol
Tuesday, 23 Oct 2018 

Oct 23 (Reuters) - SOLIDARITY::THOUSANDS OF SOLIDARITY MEMBERS WILL SERVE COURT PAPERS ON SASOL IN SANDTON ON THURSDAY.  Full Article

UPDATE 1-South African petrochemicals group Sasol's results delayed again

JOHANNESBURG, Sept 6 South African petrochemicals company Sasol's 2019 finical results will be delayed further after additional work was commissioned under a review at its U.S. ethane cracker project, it said on Friiday, sending its share price lower.