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

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

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03/22/2012 | 04:10pm CEST

By Devon Maylie


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

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Financials ( ZAR)
Sales 2017 176 992 M
EBIT 2017 34 514 M
Net income 2017 22 537 M
Debt 2017 67 269 M
Yield 2017 3,58%
P/E ratio 2017 9,98
P/E ratio 2018 8,54
EV / Sales 2017 1,74x
EV / Sales 2018 1,77x
Capitalization 241 572 M
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Number of Analysts 12
Average target price 412  ZAR
Spread / Average Target 11%
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Bongani Nqwababa Co-President & Co-Chief Executive Officer
Stephen Russell Cornell Co-President & Co-Chief Executive Officer
Mandla Sizwe Vulindlela Gantsho Chairman
Paul Victor Chief Financial Officer & Executive Director
Stephanus Johannes Schoeman Executive Vice President-Technology
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