“The acquisition marks another significant milestone for the Prax Group, and will create unique opportunities across the South African supply chain, meeting the needs of customers and communities for years to come.”
Sasol Ltd., South Africa’s largest fuel producer, declared force majeure on the supply of petroleum products due to delays in deliveries of crude to the Natref refinery it owns with TotalEnergies, leaving just a fraction of the country’s fuel-production capacity still operational.
Floods in KwaZulu-Natal have disrupted some of Sasol’s chemical exports, the company has said, while reaffirming its hedging plans.
Sasol expects to post strong results for the second half of 2020, while adjusted EBITDA will drop by as much as 10%.
South Africa has “inadequate” stocks of diesel, an industry body has warned, as demand has accelerated beyond expectations with the easing of lockdown limitations.
Sasol has appointed Wood to act as engineering partner under a five-year partnership framework agreement, with a focus on operations across South Africa.
Sasol will shutdown its Natref refinery as of Arpil 9 in response to the “unprecedented decline” in fuel demand, stemming from South Africa’s lockdown aimed at halting the spread of coronavirus.