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 reported strong financial results for the year ended June 30, 2022, with EBIT soaring to R61.4 billion, over 100% higher than last year, driven by rising energy and chemical prices. Adjusted EBITDA also rose 48% to R71.8 billion. Headline earnings increased by 21% to R29.7 billion, translating to a basic EPS of R62.34, more than doubling from the previous year. A final dividend of 1,470 cents per share was declared. Despite operational challenges earlier in the year, the company enjoyed improved stability in operations during the second half.
Sasol Chemicals is set to enhance sustainability at its Brunsbüttel plant in Germany by doubling its use of green steam from a new biomass cogeneration facility, to be constructed by Hamburger Energiewerke by 2024. Once operational in 2025, this facility will provide at least 70,000 megawatt hours of steam and cut the plant's CO2 emissions by about 13,000 metric tons annually. This initiative is part of Sasol’s goal to reduce scope 1 and 2 emissions by 30% by 2030, utilizing renewable feedstock from local agricultural waste.
Sasol reported strong financial results for the year ended June 30, 2022, driven by higher crude oil and chemical prices. Adjusted EBITDA is expected to rise by 36% to 56%, reaching R66 to R75.6 billion. Earnings per share (EPS) are projected to increase over 100%, from R14.57 to between R60.59 and R63.51. However, operational challenges reduced production levels, affecting overall performance. Significant non-cash adjustments include unrealized losses of R5.2 billion, though notable gains were realized from divestments. Detailed annual results will be released on August 23, 2022.
Summary not available.
Sasol ecoFT announces its commitment to advancing decarbonization through its proprietary Fischer-Tropsch (FT) technology, capable of producing sustainable fuels and chemicals. With a significant portion of global CO2 emissions arising from hard-to-abate sectors such as aviation and shipping, Sasol aims to leverage green hydrogen and bio-based carbon to mitigate these emissions. The company highlights that existing synthetic aviation fuels are already accredited, positioning FT technology as a key player in the Sustainable Aviation Fuels market by 2035. Partnerships with industry leaders further support Sasol's goal of transitioning to net zero.
Sasol has published its production and sales performance metrics for the year ended 30 June 2022. The update includes a force majeure declaration on petroleum product supply due to crude oil shipment delays affecting Natref operations; however, restoration of supply is underway with production capacity expected to recover by the end of July 2022. Sasol is finalizing its financial year-end processes and will release its annual financial results on 23 August 2022. Investors are encouraged to attend an upcoming conference call for detailed insights.
Sasol's subsidiary, SSA, has completed a transaction selling a 30% equity interest in the ROMPCO pipeline to iGAS and Companhia Mocambiçana de Gasoduto, after exercising pre-emptive rights. The deal is valued at R4.1 billion, with a potential deferred payment of R1 billion by June 2024, contingent upon meeting specific milestones. Following the sale, Sasol retains a 20% interest in ROMPCO and will continue operational oversight. This divestment aligns with Sasol's ongoing asset divestment strategy initiated in March 2020, reaffirming its commitment to the integrated natural gas sector in Southern Africa.
Sasol Chemicals and LOTTE Chemical are conducting a pre-feasibility study to build a facility for producing battery-grade electrolyte solvents, essential for lithium-ion batteries used in electric vehicles. The study will evaluate locations in Lake Charles, USA, and Marl, Germany, leveraging feedstock from Sasol and proprietary technologies from both companies. The initiative aims to meet increasing battery demand while focusing on sustainability and minimizing carbon footprints through renewable energy usage.
On May 24, 2022, Sasol (NYSE: SSL) announced the launch of the CARE-O-SENE project in Johannesburg, aiming to develop advanced catalysts for sustainable aviation fuels (SAF). Funded by the German Federal Ministry and Sasol, this three-year initiative involves key partners, including Helmholtz-Zentrum Berlin and several research institutions. Aimed at commercializing green kerosene production by 2025, the project utilizes Fischer-Tropsch technology to enhance fuel yield over 80%. This collaboration seeks to support the aviation sector's decarbonization efforts.
Sasol ecoFT has signed a letter of intent with Sollefteå municipality and Uniper to explore building a sustainable aviation fuel production facility in Sweden. The project, under the joint venture SkyFuelH2, aims to utilize green hydrogen and biomass carbon using Sasol's Fischer-Tropsch technology. The selected site in Långsele is optimal due to its renewable energy supply and land availability. Fleetwood Grobler, CEO, emphasizes their commitment to sustainable fuel production. The initiative is viewed as pivotal for the aviation industry's green transition.
FAQ
What is the current stock price of Sasol (SSL)?
What is the market cap of Sasol (SSL)?
