by Gerhard Engelbrecht | Dec 11, 2020 | Chemicals
Sasol’s spot earnings continue to increase and are 14% for FY21 and are at R9.15/share. Oil prices were 1.2% higher and while refining margins dropped back 14% and remain at very low levels. Petrol cracks remain below R2.00/bbl.Asian polymer prices have...
by Gerhard Engelbrecht | Dec 5, 2020 | Chemicals
LNG in Maputo: Gigajoule in partnership with Total and MGC looking to build an LNG import terminal in the Matola harbour in Mozambique. The project is far advanced and engineering design is underway. A final investment decision will be made in...
by Gerhard Engelbrecht | Dec 4, 2020 | Chemicals
Spot earning continue to increase and are at R8.05/share for FY21. Oil prices were and the rand were flat and refining margins were slightly higher but remain weak and petrol cracks in particular have declined below $1.00 during the week.Asian Chemical prices...
by Gerhard Engelbrecht | Nov 27, 2020 | Chemicals
FY21E Spot earnings increased by 22% to R7.39/share this week as oil prices increased by 8.7% and refining margins by 7.9%. At spot prices our estimate of net debt declined to R111bn assisted by the stronger rand. Excluding lease liabilities and long-term...
by Gerhard Engelbrecht | Nov 20, 2020 | Chemicals
Spot earnings dropped back this week as oil prices and refining margins declined with a slightly stronger rand. FY21 spot earnings are now at R5.78/share.Chemical prices in Asia were generally higher this week with ethylene prices increasing by almost 13% due to...
by Gerhard Engelbrecht | Nov 13, 2020 | Chemicals
Spot earnings continue to increase and are 22% below our estimate for FY21 at R6.06/share. The recent increase in oil prices is a key driver of higher earnings. Refining margins were stable but remain well below mid cycle levels. The stronger rand...
