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

End-of-day quote. End-of-day quote  - 07/29
371.31 ZAR   -3.80%
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Sasol Limited : Sasol : Identified Alternate Crude Oil Suppliers Amid Iran Sanctions

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03/22/2012 | 10:10am EDT

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

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Financials ( ZAR)
Sales 2016 172 516 M
EBIT 2016 32 111 M
Net income 2016 16 232 M
Debt 2016 39 924 M
Yield 2016 3,94%
P/E ratio 2016 12,51
P/E ratio 2017 9,11
EV / Sales 2016 1,70x
EV / Sales 2017 1,65x
Capitalization 253 091 M
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Mean consensus HOLD
Number of Analysts 14
Average target price 433  ZAR
Spread / Average Target 12%
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Managers
NameTitle
Mandla Sizwe Vulindlela Gantsho Chairman
Stephen Russell Cornell Executive Vice President-International Operations
Bongani Nqwababa Chief Financial Officer & Executive Director
Stephanus Johannes Schoeman Executive Vice President-Technology
Hendrik George Dijkgraaf Lead Independent Non-Executive Director
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