With a ‘low double-digit slide’ in volumes. var range = document.selection.createRange(); Telephone: +27(0) 860 335 444 E-mail: sasolqueries&enquiries@sasol.com. Only my view, but it might help if you are at all interested and again, agreed, this has nothing to do with press, brains, education, pedigree. } The average cost of producing a barrel of oil is reportedly about $50 – more for some and less for others, so where it settles in the short to medium term is anyones bet. jQuery(document).on('click', 'a[href*="#to-comments"]', function (event) { It also suspended the progressive nature of its dividend policy. Emissions rise from towers at the Sasol Ltd. Sasol One Site in Sasolburg. At present oil is low, futures- oil ordered dated 2020 dipped below $50, drowning in supply, lots of headlines about oil and China and really just one writer and speaker saying the same, all saying much the same and nothing about the company. Ultimately, he believes that it will probably result in the project missing more milestones, and that the total cost may well increase by a further $500 million. But, of course price manipulation cannot be over-looked entirely. oldTweetLink.parentNode.removeChild(oldTweetLink); Over and above this, in January 2015, the group introduced a ‘Response Plan’ to ensure further cash conservation following the fall in the oil price. newTweetLink.id = "tweetLink"; The yield on $750 million of notes due 2028 climbed for a fourth day, jumping 93 basis points to 6.61%, the highest since January 2019. “This animal is changing – it is no longer a solid dividend declaring momentum type stock,” says Legrange. var newTweetLink = document.createElement("a"); return range.toString() y = (e.clientY + 5) + 'px'; Their forecasts range from $13.50 to $13.50. However, the energy landscape was shaken up in 2014. At its 2015 year end results the company said that a 10c weakening in the annual average rand/US dollar exchange rate will impact profit from operations by about R650 million. Yep … apparently Saudi oil cost about $10 to get out of the ground. Wall Street Stock Market & Finance report, prediction for the future: You'll find the Sasol share forecasts, stock quote and buy / sell signals below.According to present data Sasol's SASOF shares and potentially its market environment have been in bearish cycle last 12 months (if exists). }, false); It isn’t just the unbelievable number of offices and staff in every city and town in every country, it was, in my view, bad business decisions. }, 500); Their share prices reflected this; in Sasol’s case the price gained traction reaching the R500 to R600 range. “The first two are most likely to happen first - unless the weak global economy sets in and option three also need to be called in.”. "top": y, Sasol “has a significant U.S. dollar-denominated debt load that it needs to deal with,” Tsatsi said by email. When might be the right time to reinvest in oil (and commodity) companies is the source of much speculation. jQuery('html, body').animate({ Ever since the advent of shale gas exploration and the U.S’s demand particularly, essentially being taken out of the global demand equation, the following has occurred. Driving share prices down is the oil price, which has collapsed to prices last seen in the 1990s. Prior to that, in the 80s and 90s, it was rangebound at this level.”. While the most recent management guidance indicated that the project was still expected to deliver a return reasonably above the cost of debt, further overruns could jeopardise this scenario. }); The oil industry has a history of boom and bust and the surplus in supply will eventually fall – in line with the drop in exploration. The Johannesburg-based company’s half-year earnings already showed the effects of a 9% decrease in the rand-per-barrel price of crude oil and lower refining margins due to weaker demand during the period, the company said in a Feb. 24 results statement. imageLoading: "https://www.moneyweb.co.za/wp-content/themes/moneyweb-domination/images/spinner_moneyweb.gif", Get yourself an education before making “noise” on this website. textParagraph.addEventListener("mouseup", function (e) { newTweetLink.href = "https://twitter.com/intent/tweet?text=" + encodeURI(text) + "&url=https://www.moneyweb.co.za/news/companies-and-deals/how-low-can-they-go/&via=Moneyweb"; The firm engages in the provision of liquid fuels, chemicals, and low-carbon electricity. Management should be held accountable.”. Marriage out of community without the accrual: what is it and what are the implications? “The level of volatility in the Chinese market suggests that investors (and speculators) are very nervous.”. Wow, I am interested to know how that comment was correlated to the pres and ones level of education or lack thereof. Apart from the postponement, there’s not much new in the statement – it certainly doesn’t forecast a shock in the results. } }); Only a communist views profits as “unfair” while they happily enjoy the taxes these capitalists pay on these profits. The biggest decision in this regard was to delay the final investment decision on its gas-to-liquids facility in the United States conserving more than $600 million in front-end design spend. Sasol below 300 would be interesting, at 360 worth holding or maybe making a smallish gain, reasonably safe. } EU’s Social Bonds Draw $275 Billion to Set Global Demand Rec... Gold Swings as U.S. Exactly. This in turn reinforced the cycle of rising share prices. Head Office. } } newTweetLink.innerHTML = ' Tweet'; Why abandon the short lived progressive dividend, my guess is the chemical side is not in a good space, it hasn’t been for quite some time and they used to trump up how the loss was being covered by great rises in oil prices and rand vulnerability. That would tell me there is more to the loss than just the price of oil or dollar exchange. While Sasol has assumed oil prices staying at $50 to $70 a barrel for its outlook projections, Brent plumeted to as low as $31.02 Monday.
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