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Johannesburg - Sasol’s [JSE:SOL] survivalist programme, sparked by “lower for longer” oil prices, has seen it cut more than a thousand jobs and delay a megaproject, according to the City Press.
The petrochemical group’s results for the six months to December 2014 showed it approved close to 1 500 voluntary separations and early retirements – and more are being considered.
It also delayed giving the green light to its gas-to-liquids refinery in Louisiana, US – a project with an estimated price tag of between $11bn (R135bn) and $14bn. It is going ahead with an $8.9bn ethane cracker, the other half of the Louisiana complex.
