CAPEX CUTS

20th March 2015 By: Darlene Creamer

CAPEX CUTS

Like so many other energy companies, South African energy and chemicals group Sasol has been forced to realign its business with the new oil price reality. It has outlined a R30-billion to R50-billion cash-conservation programme, with capital-expenditure (capex) cuts making up the lion’s share. The group expects to invest R45-billion during 2015, R65-billion in 2016 and R60-billion in 2017, which will include capex cuts of between R13-billion and R22-billion.