South Africa’s Sasol signals larger cost-cut on lower crude prices
The company reported that they expect to implement a cash cost savings of 2.5 billion rand through 2019, a billion rand more than it had previously targeted in cost reductions as they believe that global oil prices will remain on a soft note for a much longer time.
Regarding its petrochemical project in the US, the company stated that the project will triple its chemical production capacity in the US. According to media reports, the company previously announced that its petrochemical project in Calcasieu Parish, Louisiana will be launched in 2019, a year later than planned, due to decreased profits caused by low oil prices.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- China’s PET markets extend rebound on firmer costs
- Asian ethylene-naphtha spread at almost 7-year low
- European PVC defies global uptrend
- Turkey’s PP, PE markets at a standstill amid lingering downturn
- PVC downturn persists in China’s local market despite bullish imports
- China's PP market at almost 2-year low; H2 outlook bearish
- Asian spot ethylene market plunges to decade low
- Early July expectations emerge softer in Europe’s PP market
- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high