Sasol Takes $1.9 Billion Charge on Coal Unit as Emissions Rise
- Secunda increases greenhouse gas due to higher output
- Company faces ‘uncertain regulatory environment’ in S. Africa
The Sasol Ltd. Sasol One liquid fuels facility in Sasolburg, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South African fuel and chemical maker Sasol Ltd. took a 35 billion-rand ($1.9 billion) writedown on a facility at the heart of its operations and warned of regulatory uncertainty in the country as greenhouse-gas emissions rose.
The “significant impairment” on the Secunda liquid fuels plant is reflective of Sasol’s reassessment of costs and the “need to remain realistic and focus on delivery,” Chief Executive Officer Fleetwood Grobler said in an earnings presentation.