Sasol Delays Investment, Completing LA Ethane Facility at Slower Pace
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Sasol announces that it is formulating a comprehensive plan to conserve cash in response to lower international oil prices.
While the detailed actions underpinning Sasol's response plan are being refined, certain decisive measures have already been agreed to and are being implemented.
These include identifying opportunities for additional cash savings targeted over the next 30 months. The focus areas are capital portfolio phasing and reductions, capital restructuring, working capital improvements, margin enhancement and further fixed cost reductions. Cash flow improvements actioned in terms of the response plan will be over and above the current target of at least R4 billion in sustainable cost savings by 2016, which was confirmed last year as part of Sasol´s business performance…
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