20 de outubro de 2020 , por
The procedure to follow when a person dies, Pandemic: Germany added to SA’s high-risk list, Webinar: Making sense of the mid-term budget. Ultimately, he believes that it will probably result in the project missing more milestones, and that the total cost may well increase by a further $500 million. Must pick the right individual stocks and Sasol with its expensive inventory in Canad means when the sector grows it might grow, but a sluggish sector means Sasol less likely to grow, it’s not looking like an individual winner, below 300 you might take another look. var range = window.getSelection(); Head Office. Just as ignorant and uninformed as your prez!!! “The level of volatility in the Chinese market suggests that investors (and speculators) are very nervous.”. Marriage out of community without the accrual: what is it and what are the implications? Only my view, but it might help if you are at all interested and again, agreed, this has nothing to do with press, brains, education, pedigree. var newTweetLink = document.createElement("a"); The oil majors, through their entrenched positions, all earned rich profits over the period, particularly between 2011 and 2014 when the Brent oil price was stable between US$95 and US$125/barrel. No one knows, it’s only a view. Sasol has dropped about 70% this year and its 52% retreat so far in March is the worst performance among the 1,401 members of the MSCI Emerging Market Index. Sasol's ethane cracker plant at the Lake Charles Chemicals Project in Louisiana. While the price has inched up since, the … This will be updated at the company’s interim results announcement on 7 March. However, the news coming out of China is not positive and the excess investment in the sector will take time to unwind, Beelders says. Sasol Ltd. () Stock Market info Recommendations: Buy or sell Sasol stock? newTweetLink.href = "https://twitter.com/intent/tweet?text=" + encodeURI(text) + "&url=https://www.moneyweb.co.za/news/companies-and-deals/how-low-can-they-go/&via=Moneyweb"; Sasha Planting is Moneyweb’s Deputy Editor and writes on investment and companies. Agreed. View analysts' price targets for Sasol. Their share prices reflected this; in Sasol’s case the price gained traction reaching the R500 to R600 range. So far, the LCCP, which will have seven production units that deliver various chemicals including a plastics variant called polyethylene, has been a giant disaster for Sasol: at current estimates it will cost between $12.6 billion and $12.9 billion (R184 billion at current exchange rates) – almost double the original budgeted amount. Their forecasts range from $13.50 to $13.50. Investors Throw Zambia Lifeline With Time Short to Avoid Def... U.S. Stocks Edge Higher Amid Aid-Package Talks: Markets Wrap. Moneyweb requires cookies to function properly. Source: Sharenet, All JSE data is delayed by at least 15 minutes, Sasol's shock slump has wiped out billions - but it's not even among the 10 biggest one-day falls on the JSE, The densest known population of this African wild cat now lives right next door to Sasolâs industrial Mordor, *Copyright © 2020 Business Insider Inc.All rights reserved.Registration on or use of this site constitutes acceptance of our, Dozens of SA’s biggest companies – including Old Mutual, Sasol and Pick n Pay – have hit new lows. The sharpest slump in oil prices since 1991 hit the South African fuels and chemicals producer just days after Moody’s Investors Service downgraded it to junk, citing high debt and spending on the Lake Charles Chemicals Project in Louisiana. In Southern Africa a large focus is on gas, particularly the promise that gas-to-power has in Southern Africa. 1, therefore the oil price, in it’s current form is a function of fewer demand and supply factors. "It just shows you how management pay and outcome does not always align, and shareholders bear the consequences. He said some of the large investors in Sasol, including Allan Gray and the Public Investment Corporation [which manages civil servant pensions], must rightly ask the board to take responsibility. That would make sense, introducing a Canadian CEO they entered the Canada tr field in Alberta, came up dry in offshore drilling in Australia- all foreign and all paid for by a Rand denominated company. Since March, the board has had to repeatedly revise estimates of how much the project will end up costing, given large budget overruns. scrollTop: jQuery(jQuery.attr(this, 'href')).offset().top When might be the right time to reinvest in oil (and commodity) companies is the source of much speculation. Oil prices have tumbled in recent weeks amid concerns about global growth. jQuery('html, body').animate({ Ever since the advent of shale gas exploration and the U.S’s demand particularly, essentially being taken out of the global demand equation, the following has occurred. I would not buy Sasol shares though, I’d rather buy some of the shares recommended by EasyStockPicker.co.za. Sasol shed almost R20 billion of its market value within fifteen minutes on Friday morning, after the company postponed the release of its results in a cryptic announcement. Terms of use. There is no intention to sell the remainder. Sasol has few tools to get more profit growth out of its operations – it is largely dependent on oil and chemical prices. Driving share prices down is the oil price, which has collapsed to prices last seen in the 1990s. We must also remember that Sasol is and has been selling their product using oil prices while they were producing it from coal, which was very unfair and nobody questioned them, for me their share price can fall to the grave because they’ve been making money unfair all these years. if (textParagraph) { } “In fact, the external review will give the board ammunition to take action against those who neglected their duties. “This oil price crash has come at the absolute worst time for Sasol,” said Seleho Tsatsi, an analyst at Anchor Capital in Johannesburg. The yield on $750 million of notes due 2028 climbed for a fourth day, jumping 93 basis points to 6.61%, the highest since January 2019. You are currently viewing our desktop site, do you want to download our. Increase in Covid-19 infections curbs leisure travel to South Africa, barring visits of three months or more. Why aren't we getting better at preventing cyber attacks. I’m not sure it’s world class and I’m concerned that management is looking at these huge ethanol crackers in an over-supplied market. While the price has inched up since, the shares of Royal Dutch Shell and BP are also at or near five-year lows, while Total and Exxon Mobil are trading at two-year lows. Moody’s said last week that Sasol’s free cash flows over the next two years won’t materially reduce the company’s 138 billion rand ($8.5 billion) of debt, accumulated mostly because of the LCCP. The U.S being out of the picture means OPEC has lost it’s biggest customer, which equates to significantly less demand, hence the sharp pull-back in oil prices. This suggests a possible upside of 116.0% from the stock's current price. However, the energy landscape was shaken up in 2014. imageLoading: "https://www.moneyweb.co.za/wp-content/themes/moneyweb-domination/images/spinner_moneyweb.gif", With a ‘low double-digit slide’ in volumes. Sasol Ltd. () Stock Market info Recommendations: Buy or sell Sasol stock? Sasol fell as much as 51% and traded 47% lower as of 4:19 p.m., heading for the weakest close since December 2003. By the end of the last financial year (June 2015), the company achieved annual cost savings of R4 billion. However, relying on the rand is precarious, and goes a little way to explaining why the share has been rangebound since December 2014. “Given what we’ve seen over the past four months, many shareholders must be seriously asking themselves if the management is really on top of the situation. This is not the website of the SA Communist Party, Cosatu or the EFF. 2. Wall Street Stock Market & Finance report, prediction for the future: You'll find the Sasol share forecasts, stock quote and buy / sell signals below.According to present data Sasol's SSL shares and potentially its market environment have been in bearish cycle last 12 months (if exists).
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