Welcome to our dedicated page for Sasol news (Ticker: SSL), a resource for investors and traders seeking the latest updates and insights on Sasol stock.
Sasol Limited (SSL) generates a steady flow of news related to its energy and chemicals operations, financial performance, governance and climate strategy. The company regularly publishes production and sales metrics, trading statements and audited financial results that explain how factors such as oil prices, refining margins, sales volumes and impairments affect earnings, cash flow and net debt. These updates provide insight into the performance of the Southern Africa Energy & Chemicals business and the International Chemicals business.
Corporate governance and shareholder matters are another important source of Sasol news. Notices of the annual general meeting, details of record dates, and the publication of AGM results outline how shareholders vote on financial statements, remuneration policies, climate change strategies and the election of directors and committee members. These announcements show how Sasol’s governance structures, including the Audit Committee and the Safety, Social and Ethics Committee, are refreshed and overseen.
Sasol’s news flow also covers operational and strategic developments. Examples include updates on coal quality improvement projects, operational performance at Secunda Operations, Natref and Sasolburg, and decisions to mothball or close certain chemical plants in the United States and Europe. The company reports on progress against plans to strengthen its foundation business and to grow and transform its portfolio.
In the chemicals segment, Sasol International Chemicals issues news about new product launches and sustainability initiatives, such as the commercialization of a bio‑circular insect oil‑based surfactant for cleaning markets and collaborations on catalysts for sustainable aviation fuel. Renewable energy and decarbonisation steps, including power purchase agreements and virtual power purchase agreements, are also highlighted. Investors and observers who follow Sasol news can track these financial, operational, governance and sustainability developments over time.
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.
Sasol reported a loss of R91.3 billion for the year, a stark contrast to earnings of R6.1 billion in the previous year. The decline was driven by low oil prices averaging US$62.62 per barrel, coupled with the adverse economic impact of COVID-19. Key metrics include an adjusted EBITDA drop of 27% and a basic loss per share of R147.45. Despite challenges, sales volumes in the Base Chemicals and Performance Chemicals segments improved by 19% and 8% respectively. The firm also improved cash fixed costs, achieving a historical low working capital ratio of 12.5%.
Sasol reported a significant financial downturn for the year ending June 30, 2020, posting a loss of R91.3 billion, primarily due to the collapse of oil prices and the impact of COVID-19. This compares to a profit of R6.1 billion in the prior year. The company faced a decline in gross margins, attributed to an 18% drop in Brent crude oil prices. Despite challenges, the Lake Charles Chemicals Project showed improved EBITDA performance, with total cash fixed costs remaining flat year-over-year. The company has suspended dividend payments to protect liquidity, as its debt levels surged to R189.7 billion.