SSL - Sasol Limited
| Previous Close | 17.67 |
| Open | 17.90 |
| Bid | 16.75 x 800 |
| Ask | 17.65 x 800 |
| Day's Range | 17.74 - 18.08 |
| 52 Week Range | 17.03 - 39.73 |
| Volume | 217,664 |
| Avg. Volume | 269,996 |
| Market Cap | 11.739B |
| Beta (3Y Monthly) | 0.96 |
| PE Ratio (TTM) | 17.12 |
| EPS (TTM) | 1.05 |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.98 (4.64%) |
| Ex-Dividend Date | 2019-03-14 |
| 1y Target Est | 30.50 |
- Bloomberg
Sasol Met With Fund Managers as U.S. Plant’s Costs Climbed
(Bloomberg) -- Sasol Ltd., South Africa’s biggest company by revenue, said it held meetings with shareholders as dissatisfaction grew over cost overruns at the $13 billion Lake Charles chemical project in the U.S.The meetings began after Sasol raised the estimated cost of the project by $1 billion in May, having increased it only three months earlier, the company said in a response to questions. On Aug. 16, Sasol delayed its annual results, saying it hasn’t completed a review of the problems at the project. That prompted its shares to fall the most in 20 years on an intraday basis in Johannesburg.“The chairman of the Sasol board of directors together with management has held meetings with a number of shareholders to hear their views, concerns and expectations,” the company said on Monday. “It would not be appropriate for Sasol to comment on behalf of our shareholders on their expectations.”The meetings took place shortly after May 22 and no “additional, non-disclosed information” was provided, a spokesman added. No closed analyst calls have taken place, he said. Problems at Lake Charles, in Louisiana, have hampered Sasol’s plans to expand internationally and to increase chemicals manufacturing alongside its core fuel-production business. The company’s market value has almost halved to 168 billion rand ($10.9 billion) over the past 12 months, making it the third-worst performer on an index of Johannesburg’s 40 biggest stocks.Representatives of Allan Gray Ltd., which owns 3.4% of Sasol’s stock according to data compiled by Bloomberg, have met with Sasol’s board about the Lake Charles project, said Andrew Lapping, the chief investment officer of the Cape Town-based fund manager. He declined to comment on the talks.Coronation Asset Management, South Africa’s second-biggest money manager by assets under management which owns Sasol stock, declined to comment.(Updates with additional comment in fourth paragraph)To contact the reporter on this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.netTo contact the editors responsible for this story: John McCorry at jmccorry@bloomberg.net, Rene Vollgraaff, John BowkerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- PR Newswire
Bragar Eagel & Squire, P.C. is Investigating Sasol Limited (NYSE: SSL) on Behalf of Stockholders and Encourages Sasol Investors to Contact the Firm
NEW YORK, Aug. 19, 2019 /PRNewswire/ -- Bragar Eagel & Squire, P.C. is investigating potential claims against Sasol Limited (SSL) on behalf of Sasol investors. Our investigation concerns whether Sasol has violated the federal securities laws and/or engaged in other unlawful business practices. On August 16, 2019, the company announced that it was delaying the announcement of its financial results for fiscal year 2019 due to possible "control weaknesses" at its Lake Charles chemicals project in Louisiana. On this news, Sasol's stock price fell sharply on August 16, 2019, to close at $17.67.
- ACCESSWIRE
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Sasol Limited - SSL
NEW YORK, NY / ACCESSWIRE / August 19, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Sasol Limited (“Sasol” or the “Company”) (SSL). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. The investigation concerns whether Sasol and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
- Bloomberg
Sasol Delays Results for Review of $13 Billion Investment
(Bloomberg) -- Sasol Ltd. fell the most in 20 years in Johannesburg trading after postponing full-year results, saying it hadn’t yet completed a review of problems affecting a giant chemicals project in the U.S.Sasol dropped as much as 16%, the biggest intraday decline since September 1998, as the beleaguered Lake Charles project continued to sap investor confidence. Costs at the flagship development have swelled 50% from initial estimates to almost $13 billion amid weather delays and construction setbacks.“The board has decided to delay the announcement of Sasol’s 2019 financial results until the independent review and external audit has been completed,” the company said Friday. “The board therefore expects to announce the 2019 financial results on Sept. 19,” a month later than planned.The troubles at Lake Charles, in Louisiana, have hampered Sasol’s plans to expand internationally and to increase chemicals manufacturing alongside its core fuel production business. In May, the company pushed up the cost estimate for the project by $1 billion, having previously raised the budget just three months earlier.The board received a preliminary report earlier this week following an independent review of the obstacles that have hampered Lake Charles, which “contains observations which point to possible LCCP control weaknesses,” Sasol said in a statement. It also announced a fresh problem, saying the start of an ethane cracker had been delayed by a technical glitch. An update on the unit is expected by Aug. 26.The degree of the issues plaguing the project, including what the company means by “control weaknesses,” is yet to be fully defined, Wade Napier, an analyst at Avior Capital Markets Pty Ltd. in London, said by phone. “It could be a case of management being prudent” or something more serious.Sasol shares traded down 8% at 256.86 rand as of 12:18 p.m. in Johannesburg. The stock has declined more than 50% in the past 12 months.The board said it was “confident” that the guidance on results remains unchanged. Earnings probably declined by between 4% and 14% in the year through June largely due to cost increases at Lake Charles, Sasol said July 25 in a trading update.The project will, once finally completed, boost the portion of chemicals in Sasol’s sales mix to 70%. It’s one of two massive plants that it had planned in the U.S., but the second -- a gas-to-liquids operation -- was abandoned during the oil-price crash. The chemicals complex was approved in 2014.(Updates with issues cited by board in fifth paragraph, analyst comment)To contact the reporter on this story: Paul Burkhardt in Johannesburg at pburkhardt@bloomberg.netTo contact the editors responsible for this story: James Herron at jherron9@bloomberg.net, Helen Robertson, Amanda JordanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- PR Newswire
Update on Sasol Board Review, Delay of the Financial Results Announcement and Update on the Lake Charles Chemicals Project
JOHANNESBURG, Aug. 16, 2019 /PRNewswire/ -- In the Company's Trading Statement of 25 July 2019, updated guidance was provided on the independent review commissioned by the Board to ascertain the factors that impacted the cost and schedule changes for the Lake Charles Chemicals Project (LCCP). A preliminary report from the independent review was presented to the Board on 14 August 2019. The report contains observations which point to possible LCCP control weaknesses.
- Investopedia
Top Oil Stocks for January 2019
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- Bloomberg
Sasol’s South Africa Plants Threatened by Emission Standards
(Bloomberg) -- Sasol Ltd. said some of its South African plants are under threat from sulfur dioxide emission standards that it will need to comply with by 2025.The company, South Africa’s biggest by revenue, operates plants that convert coal into motor fuel and chemicals in Secunda, east of Johannesburg, and Sasolburg to the south. Flue-gas desulfurization equipment needed to cut emissions of the gas, which causes acid rain and a range of health complications, is too costly and technically difficult to install, Sasol said. Globally, as well as in South Africa, the company produces a range of chemicals.Air pollution in the area around coal-fired plants operated by Sasol and Eskom Holdings SOC Ltd. east and south of Johannesburg, South Africa’s biggest city, rivals levels in some of the most polluted cities on earth. The government has proposed doubling the new limit, but is coming under increased pressure to act against the two companies as it’s being sued by environmental activists over the breach of current emission limits.Sasol will have to comply with new sulfur dioxide emission limits for coal boilers of 500 milligrams of the pollutant per normal cubic meter. Its 2018 emission reports show that some equipment at both Secunda and Sasolburg regularly exceeds 1,000 milligrams.“The new plant standard for sulfur dioxide will pose a compliance risk challenge for Sasol post 2025 from both a technical and financial feasibility point of view,” the company said in an emailed response to questions. “All commercially available technologies for the abatement of sulfur dioxide to meet new plant standards have been evaluated and we continue to scan for new technologies.” A failure to comply could lead to fines and the closing of plants.While Sasol has already won a postponement, Eskom is yet to hear whether its applications to have its compliance with the sulfur dioxide emission standards delayed from 2020 until 2025 are successful. It has argued that it would only be economic and feasible to fit the pollution abatement technology on its two newest plants.Eskom, which operates about 15 coal-fired power stations, has said that flue-gas desulfurization equipment can cost between 20 billion rand ($1.4 billion) and 40 billion rand per plant. Environmental activists including Greenpeace put the cost significantly lower.“Sasol is still saying they can’t afford flue-gas desulfurization,” said Robyn Hugo, program head for pollution and climate change at the Cape Town-based Centre for Environmental Rights. “Sasol itself has confirmed that there are no other means to meet these minimum emission standards.”In addition to being technically difficult and costly, flue-gas desulfurization equipment would require that additional water and limestone are brought in from the Northern Cape province. Existing limestone mines in that province are 450 kilometers (280 miles) to 800 kilometers away from Sasol’s plants.“Flue-gas desulfurization technology is proven,” Sasol said. Still, “it would be significantly challenging to retrofit” the equipment at the existing plants, it said.In a separate application for a delay in meeting emission limits for a range of other pollutants, Sasol has asked for permission to significantly exceed caps for nitrogen dioxide, particulate matter and carbon monoxide until 2025. By that time, it says in the application, new equipment should enable it to comply.On incinerators at its Secunda plant, it wants limits of as much as 90 times the new cap to be applied for carbon monoxide and particulate matter.Sasol shares have declined by 27% this year as the company battles cost overruns at its Lake Charles chemicals project in Louisiana. (Updates with share performance in final paragraph)To contact the reporter on this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.netTo contact the editors responsible for this story: John McCorry at jmccorry@bloomberg.net, Pauline Bax, Gordon BellFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- GuruFocus.com
Stocks That Fell to 3-Year Lows in the Week of July 26
Concho Resources Inc., Sasol Ltd., Cabot Oil & Gas Corp and Tata Motors Ltd. have declined to their respective 3-year lows Continue reading...
- PR Newswire
Trading Statement and LCCP Update for the Financial Year Ended 30 June 2019
Sasol's foundation business is expected to deliver resilient results with a strong volume, cost and working capital performance, despite a weak macroeconomic environment resulting in lower chemical prices and petrol differentials. There are a number of non-cash adjustments to the results which will result in a decrease in earnings per share. The largest of these were the sizable impairments of relevant cash generating units (CGUs) due to the softer outlook for global chemical and gas prices and the higher capital spend on the Lake Charles Chemicals Project (LCCP).
- PR Newswire
Sasol Celebrates Opening of New Alkoxylation Plant in China
NANJING , China , July 10, 2019 /PRNewswire/ -- Sasol Limited, an international integrated chemicals and energy company, today announced the opening of its new alkoxylation plant in Nanjing . This facility ...
- Reuters
REFILE-UPDATE 1-South Africa's rand set for weekly losses on central bank row, stocks up
South Africa's rand firmed in afternoon trade on Friday thanks to a weakening U.S. dollar, but the local currency was on track to end the week on a weaker footing after a row over the central bank's mandate rattled investors, while stocks also gained. At 1500 GMT, the rand was 0.58% firmer at 14.9075 per dollar, as the greenback fell on weak U.S. jobs data that boosted expectations the Federal Reserve would cut interest rates this year. "Matters could well have been even more severe for the rand if this was a week where the greenback remained strong in global markets," said Lukman Otunuga, analyst at futures brokerage FXTM.
- PR Newswire
Sasol Signs US$1,8 Billion Senior Credit Facilities
JOHANNESBURG , June 7, 2019 /PRNewswire/ -- Sasol Limited ("Sasol") announced today that its wholly owned subsidiary Sasol Financing USA LLC (the "Borrower") has entered into new $1,8 ...
- PR Newswire
Sasol Achieves Beneficial Operation of Second Lake Charles Chemicals Project Production Facility
LAKE CHARLES, Louisiana, June 3, 2019 /PRNewswire/ -- Sasol today announced beneficial operation of its new ethylene oxide (EO) production facility at its Lake Charles Chemicals Project (LCCP). As announced on 22 May 2019, Sasol achieved beneficial operation of the ethylene glycol (EG) facility. The combined ethylene oxide/ethylene glycol (EO/EG) unit is the second of the seven LCCP production facilities to come online.
- Reuters
South Africa's Sasol says 2nd unit at LCCP starts production
South African petrochemicals firm Sasol Ltd said on Monday that a second unit at its U.S. ethane cracker project came online last week. The company's Lake Charles Chemicals Project , which will convert ...
- PR Newswire
Sasol Limited: Sasol Achieves Beneficial Operation of Second Lake Charles Chemicals Project Production Unit; Ratings and Funding Covenant Update
JOHANNESBURG, June 3, 2019 /PRNewswire/ -- Sasol provided an update on the Lake Charles Chemicals Project (LCCP) in an announcement on 22 May 2019. The announcement included reference to the fact that beneficial operation of the Ethylene Glycol (EG) facility had been achieved, with the beneficial operation of the Ethylene Oxide (EO) facility expected within days. Sasol is pleased to announce that the EO facility achieved beneficial operation on 31 May 2019. The combined EO/EG unit is the second of the seven LCCP production units to come online.
- Moody's
Sasol Financing International Limited -- Moody's affirms Sasol's Baa3 ratings, outlook changed to negative from stable
Moody's Investors Service ("Moody's") has today affirmed Sasol Limited's ("Sasol") Baa3 long-term issuer rating and the Baa3 senior unsecured ratings of Sasol Financing International Limited and Sasol Financing USA LLC. Sasol's national scale long-term issuer rating has been downgraded to Aa1.za from Aaa.za. Moody's has also affirmed both Sasol's short-term issuer rating of P-3 and its national scale short-term issuer rating of P-1.za.
- GuruFocus.com
Stocks That Fell to 3-Year Lows in the Week of May 24
3M Co. (MMM), Mizuho Financial Group Inc. (MFG), Sasol Ltd. (SSL), and Halliburton Co. (HAL) have declined to their three-year lows. The prices of 3M Co. (MMM) shares have declined to $166.09 on May 24, which is only 1.3% above the 3-year low of $163.85. 3M Co. is an American international conglomerate corporation with operations in the fields of industry, worker safety, health care, and consumer goods.
- Motley Fool
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