Sasol Provides First-Half Update; No Change to FVE
Sasol provided an update on its 2018 first-half production metrics, highlighted by another decrease in production. Liquids production declined almost 10% (after being down 20% in fiscal 2017) to 762 thousand barrels for the first half of Sasol’s fiscal 2018. This was also below our first-half 2018 forecast of 710 mbbl. Natural gas production remained flat at 70 billion cubic feet. Refined products remained flat with the year-ago period.At this time, our $21 (ZAR 275) fair value estimate and no-...
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