Company Data
| Last traded |
R353.58 |
| Change |
R-2.42 |
| % Change |
-0.68% |
| Cumulative volume |
999,481 |
| Market cap |
R227.90bn |
Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 11:49
The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.
May 27 2012 11:05
As far as repayments on home loans are concerned, South Africans are in a much more favourable position than their foreign peers.
Johannesburg
- Fuel producer Sasol [JSE:SOL] said on Thursday it expects the international crude oil
price to bottom out at $70/barrel from the current $76, and is so
confident of this prediction it has not hedged any of its fuel production.
"We
believe that a crude price sustainably below $70/barrel is fundamentally
undervalued and expect that Opec [the Organisation for Petroleum Exporting Countries]
may further cut production at levels below this price floor," Sasol said
in its third-quarter trading update.
The company
said future prices should rise to between $75 and $85/barrel on Opec's
continued restraint in production and improving global economic fundamentals.
"The greatest risk to our oil price forecast remains a protracted global
recession," Sasol said.
However,
while the company has not hedged any of its oil production, it changed its
dividend policy to reflect growing confidence of better shareholder
returns.
Domestically,
Sasol said fuel prices increased 3% during its third quarter, compared to the
first half of the year, supported by the average income of $77/barrel and
an exchange rate of R7.50/$.
Chemical
product margins also improved significantly with international polymer and
solvent commodity prices increasing between 12% and 14%, respectively.
Sasol also
approved the construction of a R1.9bn ethylene purification unit for its polymers plant in Sasolburg. The plant is expected to be commissioned in the
second half of 2013.
In a
separate announcement, Sasol announced that its CEO Pat Davies will stay on in
this position for another year while the search for his successor continues.
Davies was due to retire in 2011.
-
Fin24.com