Sasol's $11bn US bet hinges on the oil price
12 June 2016 - 02:00
It was the most brilliant investment that money could buy at the time. The oil price was at more than $100 a barrel when, in 2014, Sasol CEO David Constable announced the US ethane cracker project that would cost $8.9-billion. Even though the company faces low global oil prices and construction delays on the project, which will now cost $11-billion (about R163-billion), and shareholders knocked 10% off the stock price on Monday after news of the cost hike emerged, some analysts still rate Const...
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