Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Johannesburg Stock Exchange  >  Sasol Limited    SOLJ   ZAE000006896

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Sasol Limited : Sasol : Identified Alternate Crude Oil Suppliers Amid Iran Sanctions

03/22/2012 | 10:10am US/Eastern

By Devon Maylie

Of

South Africa's Sasol Ltd. (SSL) said Thursday it has found suppliers to replace the crude oil it normally sources from Iran as the West imposes trade restrictions and sanctions on the Islamic Republic.

Sasol, the world's largest producer of motor fuels from coal, relies on Iranian oil imports for about 20% of its crude requirement, or 12,000 barrels a day, at its Natref refinery. South Africa as a whole relies on Iranian crude for roughly 25% of its oil imports.

"In view of recent developments regarding trade restrictions, introduction of both petroleum and non-petroleum sanctions and heightened military presence in the Strait of Hormuz, Sasol Oil has sourced alternate suppliers to meet its crude oil requirements, thereby mitigating risks associated with oil supply disruptions from the Middle East," the company said Thursday.

The energy producer said in January it would seek to diversify away from Iranian crude. At the announcement of its results earlier this month the company's chief financial officer said it already buys from Saudi Arabia so could buy more from there.

It didn't provide details on the exact sources of supply Thursday.

-By Devon Maylie, Dow Jones Newswires; +27 11 783 7848 devon.maylie@dowjones.com

React to this article
Latest news on SASOL LIMITED
09/03 Falcon Oil and Gas Ltd. - Preliminary Results of First Beetaloo Well, Kalala ..
09/03 SASOL : South Africa's Sasol says no return to Iran, yet
09/02 SASOL : seeks contractors for Mozambique oil project, gas pipeline
09/02 SASOL : Qatar Development Bank launches Al-Fikra Competition
09/02 SASOL : QDB launches Al-Fikra for start-ups
09/02 SASOL : supports QDB Al-Fikra competition as main sponsor
09/01 SASOL : Qatar Development Bank Launches Al-Fikra Competition
09/01DJFalcon Oil & Gas Finds Gas at Kalala S-1 Well in Australia
08/27 SASOL : All Africa Games Women's Football Tournament Fixtures and Information
08/27 SASOL : Pauw announces All Africa Games squad
Advertisement
Chart
Duration : Period :
Sasol Limited Technical Analysis Chart | SOLJ | ZAE000006896 | 4-Traders
Income Statement Evolution
More Financials