Sasol ditches Mozambique block
Sasol has opted to drop an exploration licence offshore central Mozambique.
Sasol
Sasol sells Escravos stake, works on Mozambique sale
Sasol has signed a deal to sell its indirect stake in the Escravos gas-to-liquids (GTL) plant, in Nigeria, to Chevron.
Sasol shakes up structure, talks jobs with unions
Sasol has negotiated some extra wriggle room in its financial discussions, while also announcing the end to upstream operations in West Africa amid a new structure plan.
Sasol cited over Mozambique costs
A Mozambique audit has raised concerns about upstream companies misstating recoverable costs, highlighting South Africa’s Sasol in particular.
Standard Bank slated for hydrocarbon-linked board
The board of South Africa’s Standard Bank has been targeted for change by climate change activists, led by the Just Share NGO.
Geofizyka Toruń completes Mozambique shoot
Geofizyka Toruń has completed a 2D seismic study for Sasol in Mozambique, demonstrating that exploration in the East African state is progressing despite some disruption stemming from coronavirus.
Eni’s Rovuma drilling disrupted
Coronavirus and the sudden drop in oil prices has led to some measure of disruption in Mozambique, local regulator Instituto Nacional de Petroleo (INP) has said, although there should be no long-term impact.
BP Southern Africa CEO leaves for Sasol
BP Southern Africa has appointed Taelo Mojapelo as its new CEO, replacing Priscillah Mabelane who is joining Sasol as executive vice president of its energy business.
Lockdown easing sparks South African fuel shortages
South Africa has “inadequate” stocks of diesel, an industry body has warned, as demand has accelerated beyond expectations with the easing of lockdown limitations.
Sasol denies fuel station sale plan
Sasol has denied that it plans to sell off its downstream fuel retail business, saying that it was instead committed to expanding this work in South Africa.
South Africa fund looks to buy Sasol assets to end losses
South Africa’s state-owned Central Energy Fund is considering buying assets that have been put on the block by fuel and chemical maker Sasol as it seeks to restore itself to profitability.
Sasol may add pipeline and Qatar plant to disposal plan
Sasol Ltd. is considering additional divestments, including the potential sale of stakes in an African gas pipeline and a Middle Eastern plant, as it explores ways to reduce its $10 billion debt pile, people with knowledge of the matter said.
Wood wins Sasol framework deal
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 shutters Natref as demand plummets
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 to reduce refinery runs during lockdown
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.
Sasol sets out $6bn target
Sasol “will prevail”, the company’s CEO Fleetwood Grobler said on a conference call intended to reassure investors and employees. The plan should stabilise the company, protect the balance sheet and preserve stakeholders’ interests.
Sasol tries to stem its share price bleeding
Sasol’s share price has declined by more than 80% since the beginning of the year, with the company saying it would accelerate efforts to cut costs and sell assets.
Sasol’s Lake Charles pain continues
Scrapping its dividend, Sasol laid out a tough set of results with earnings down 72% at 4.5 billion rand ($297 million) with its Lake Charles project in the US continuing to drag the South African company down.
Africa’s No. 1 Bank Commits to Disclosing Fossil-Fuel Exposure
FirstRand Ltd, Africa’s biggest bank by market value, has committed to disclosing its fossil fuel-related assets and lending but said it can’t meet a deadline requested by some investors.
Sasol sacrifices co-CEOs to Lake Charles disaster
Sasol and its join CEOs, Bongani Nqwababa and Stephen Cornell, will part company as of October 31 following the company’s misjudged investment in a multi-billion dollar gas facility in the US.
Engen’s IPO plans amid South African pressure
Plans are afoot for an initial public offering (IPO) of South Africa’s Engen, which might provide a rare bright spot in the country’s institutional outlook.
Amec Foster Wheeler wins Sasol Mozambique contract
Amec Foster Wheeler has won an award from Sasol for work on its liquefied natural gas project in Mozambique.
Sasol begins Mozambique drilling campaign
Sasol’s field development plan in Inhambane province in Mozambique has reached an important milestone with the commencement of the drilling of the first well, the company said.
Falcon well tests confirm high potential of Beetaloo prospect
The chief executive of Irish independent Falcon Oil and Gas has predicted great things from its Australian operations after analysis on three well confirmed early indications of high potential.
Sasol gets go ahead for more Mozambique exploration
Sasol has obtained approval from the Mozambique government to develop more oil and gas fields.