Sasol enters several hedges for FY17

8th December 2016

By: Creamer Media Reporter

  

Font size: - +

JSE-listed Sasol has entered into several hedges to mitigate specific financial risks in the 2017 financial year, which ends June 30, 2017.

The move, part of a board-approved policy, includes hedges against the downside risk in the crude oil price to “increase the stability and predictability of Sasol’s cash flows”.

During the second quarter to December, Sasol entered into oil put options, which provided an average Brent crude oil price floor of $48.68/bl, net of costs, for about 7.6-million barrels.

The company also entered into put options for the third quarter and a part of the fourth quarter for an average Brent crude oil price floor of $47.06/bl for about 16.8-million barrels.

“We are currently reviewing other commodity and currency hedges and, should we enter into material hedges, an appropriate announcement will be made,” Sasol concluded.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION