by Rowan Goeller | Jan 14, 2021 | Chemicals
Spot earnings for FY21 are now at R19.21/share with FY22 spot earnings at R31.02/share. The significant increase in spot earnings are as a result of higher oil and chemical prices. Refining margins have increased but remain well below average.Asian...
by Rowan Goeller | Jan 12, 2021 | Chemicals
Earnings higher and lower: We have adjusted our earnings estimates to reflect the stronger rand as well as higher commodity prices. Our HEPS expectation for FY21 has been increased from R7.75 to R13.55 (+75%). We have not adjusted our commodity...
by Rowan Goeller | Dec 18, 2020 | Chemicals
Sasol’s spot earnings for FY21 increased to R10.34/share as oil prices breached $51/bbl. Refining margins, petrol cracks in particular remain weak. Net debt in rands continues to fall as the rand strengthens and at current prices net debt to EBITDA could...
by Rowan Goeller | 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 Rowan Goeller | 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 Rowan Goeller | 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...
