Sasol Faces Big Writedowns, Vows to Cut Costs as Prices Affect Natural Gas Projects in Louisiana, Alberta
SUGAR LAND--September 13, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--Sasol S.A. (NYSE:SSL) (Johannesburg, South Africa) continues to struggle against the tide of low commodity prices as it faces a massive string of writedowns, much of which are related to major natural gas-processing projects in Louisiana and Alberta. The company recently announced that its net profits for fiscal 2016 to date fell 55% to $914.4 million, with revenues dropping 6.6% to $12.15 billion. Industrial Info is tracking $38.77 billion in active projects involving Sasol, all but roughly $1 billion of which is located in the U.S. and Canada.
Within this article: Details on Sasol's largest projects and how they have been affected by the pricing environment, including those in Louisiana and Alberta.
