Sasol expects to post strong results for the second half of 2020, while adjusted EBITDA will drop by as much as 10%.
Lake Charles Chemicals Project (LCCP)
Sasol’s low-density polyethylene (LDPE) unit in Louisiana has reached beneficial operation, the last part of the Lake Charles Chemicals Project (LCCP) to start up.
Sasol’s Lake Charles Chemicals Complex has been damaged by Hurricane Laura and has lost power.
Sasol has warned that adjusted EBITDA is expected to decline by between 17% and 37% for the financial year.
Sasol has appointed Wood to act as engineering partner under a five-year partnership framework agreement, with a focus on operations across South Africa.
Sasol will shutdown its Natref refinery as of Arpil 9 in response to the “unprecedented decline” in fuel demand, stemming from South Africa’s lockdown aimed at halting the spread of coronavirus.
Sasol has set out plans to reduce throughput at some of its plants, as South Africa goes into lockdown, while ratings agencies have become more cautious on the company’s outlook.