Mon, Mar. 9, 7:48 AM
- Sasol (NYSE:SSL) says it has cut 1,500 jobs and will further postpone its $14B gas-to-liquid plant in Louisiana in response to low global oil prices.
- SSL also outlines additional policies totaling 30B-50B rand, including cutting 4B-7B rand in cash costs over the next 30 months and then 1B rand annually.
- Reaffirms plans to cut dividends by 12.5% to 7 rand, in a bid to build a cash pile over the next 30 months (earlier).
- The announcement came as SSL's says its net profit rose from 12.71B rand ($1.05B) to 19.54B rand in the six months ending Dec. 31 on revenue of 99.83B rand.
Sep. 8, 2014, 7:59 AM
- Sasol (NYSE:SSL) reports a 14% increase in full-year earnings, boosted by higher chemical prices and a weaker rand, but still short of analysts' expectations.
- SSL says the economic outlook in its domestic South African base remains challenging as the country is still recovering from a five-month long strike in the platinum sector.
- Says it is considering potential expansion into Angola, Ghana and Tanzania but Mozambique remains its immediate focus in Africa.
- Also says it has obtained all air, water and wetlands permits for its Louisiana projects - an ethane cracker and derivatives plant, and an integrated gas-to-liquids and chemicals facility - which could cost ~$20B to build.
Mar. 10, 2014, 8:23 AM
- Sasol (SSL) says its fiscal first-half profit rose 26% Y/Y, helped by higher chemical prices and a weaker rand against the dollar.
- Earnings excluding one-time items rose to 18.4B rand, or 30.19 rand/share in the six months through December, from 14B rand, or 24.01/share a year earlier.
- SSL will pay a record interim dividend of 8 rand/share, a 40% increase Y/Y.
- Says it was hit by a one-time 5.7B rand writedown due to costs associated with its Canadian shale gas operation and sale of its stake in Iran-based Arya Sasol Polymer Co.
- Says its Louisiana plant that converts ethylene into other chemical products will be fully operational by the middle of this year.
Sep. 9, 2013, 10:11 AM
- Sasol (SSL +1.2%) reports better than expected earnings and revenue for its FY 2013, with synfuels production volumes +4% Y/Y to 7.44B tons, best since 2006.
- Hixonia Nyasulu says she will step down as chairman and director in November, to be replaced by Mandla Gantsho.
- CEO David Constable says he is "very bullish" on Mozambique and is in discussions with other parties over how to help monetize gas finds in the northern offshore fields there.
- SSL also is in the process of applying for environmental permits to develop a two-phase gas-to-liquids plant in Louisiana, which it expects to receive by January and April 2014.
Mar. 11, 2013, 8:49 AM
SSL vs. ETF Alternatives
Sasol Ltd is an international integrated energy and chemicals company. It develops and commercializes technologies, and builds and operates facilities, to produce product streams, including liquid fuels, high-value chemicals and low-carbon electricity.
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