Sasol Stock Price, News & Analysis

Sasol has reported on the status of its Lake Charles Chemicals Complex (LCCC) following Hurricane Laura and Hurricane Delta's impacts. Preliminary assessments show no further damage from Hurricane Delta, and operations are resuming smoothly. Approximately 170 kilotons of production was affected in Q1 FY2021. Seven chemical manufacturing units are operational, with all expected to resume by the end of October 2020. The company continues to support employees and the community affected by the hurricanes.

Sasol has reported on the impact of Hurricane Laura, which made landfall on August 27, 2020, near its Lake Charles Chemical Complex in Louisiana. The storm caused significant infrastructure damage in the area, but no major process equipment at the complex was adversely affected. While some facilities experienced moderate damage, assessments and repairs are ongoing. The company is aiding affected employees and has resumed operations, awaiting full power restoration from Entergy in mid-October. Sasol is also advancing its search for a partner in its U.S. Base Chemicals business without disruption.

Sasol reported on the impact of Hurricane Laura, which struck on August 27, 2020, near its Lake Charles Chemical Complex in Louisiana. Fortunately, all 800 employees are safe, but many have suffered home damage. The company is providing financial aid and support for recovery. Damage assessments revealed only moderate wind damage to peripheral structures, with no severe impact on major equipment. Regular operations have resumed, though full power restoration is critical for restarting ethane cracker units. Reliable service is expected by mid-October. Sasol's ongoing partner search for its U.S. Base Chemicals business remains unaffected.

Sasol announced the successful conclusion of negotiations with Air Liquide for the sale of its air separation business in Secunda for approximately R8.5 billion (EUR148.75 million). The deal includes a long-term gas supply agreement, ensuring reliable oxygen supply for Sasol’s operations. This transaction is part of Sasol's broader divestment strategy aimed at improving efficiency and reducing greenhouse gas emissions. The anticipated cash outflow for Sasol due to the agreement is estimated between R650 million and R1.2 billion annually. The implementation date will follow the satisfaction of certain conditions.

Sasol announces the completion of a Sale Agreement with Air Liquide for the sale of its air separation business in Secunda, comprising 16 units producing up to 42,000 tons of oxygen daily. The deal, valued at approximately R8.5 billion (EUR 148.75 million), includes a long-term gas supply agreement lasting 15 years. This transaction aligns with Sasol's divestment strategy to enhance efficiency and reduce greenhouse gas emissions. The proceeds will help repay near-term debt, while anticipated annual cash outflows are projected to be R650 million to R1.2 billion.

Sasol is advancing its climate change mitigation strategies through a Request for Information (RFI) process, inviting partners to develop CO2 utilization technologies at its South African operations. The initiative targets large-scale greenhouse gas (GHG) reductions and aims to foster collaboration in technology deployment. Interested parties can submit their proposals until September 30, 2020. This step embodies Sasol's commitment to sustainable operations and reducing environmental impact.

Sasol is focusing on environmental sustainability by advancing its climate change strategy, targeting lower-carbon operations. The company is exploring various initiatives to significantly reduce greenhouse gas emissions, specifically through carbon dioxide (CO₂) utilization technologies. An invitation is extended for interested parties to participate in a Request for Information (RFI) to collaborate on CO₂ utilization technologies aimed at Sasol's operations in Secunda and Sasolburg, South Africa, with submissions due by September 30, 2020.

Sasol activated inclement weather protocols ahead of Hurricane Laura, which made landfall on August 27, 2020, affecting its facilities in Lake Charles, Louisiana. The company temporarily shut down operations due to widespread electrical outages and facility impacts. While damage assessments are ongoing, initial reports indicate no flooding or significant equipment damage. Sasol has insurance coverage for affected units and is in communication with customers regarding production impacts. No adverse effects on potential divestment transactions are anticipated.

Sasol activated its inclement weather protocols ahead of Hurricane Laura, impacting its Lake Charles Chemicals Complex in Louisiana. The company prioritized employee safety and temporarily shut down facilities in Lake Charles, Greens Bayou, and Winnie, Texas. While the storm caused electrical outages, initial assessments reported no flooding or significant damage to process equipment. The Lake Charles site remains shut down, with operations resuming dependent on power restoration. Sasol holds Atlantic Named Wind Storm insurance for affected units and reports no anticipated impacts on potential divestment transactions related to its U.S. base chemical portfolio.