Sasol Ltd said on Monday it has declared force majeure on the export of certain chemical products due to the impact of heavy rainfall and floods in KwaZulu-Natal province, possibly affecting its fourth-quarter volume outlook.
The floods, among the worst to hit KwaZulu-Natal province, have killed 435 people, leaving thousands homeless and causing at least 10 billion rand of damage to infrastructure.
“Our Q4 FY22 volume outlook could be impacted subject to the extent of infrastructure damage and the timing of the recovery and restoration of key infrastructure and utilities,” the petrochemicals group said in a statement. Sasol, the world's biggest producer of fuel products and chemicals from coal, said it has yet to fully assess the material impact of the floods on its business.
The company said that the conflict in Ukraine and the resulting volatility in energy prices, together with Covid-19 lockdowns in China and rising inflation, will also pose risks to sales volumes and margins during the last quarter of 2022.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sasol declares force majeure on exports as flood fallout takes its tollSasol declares force majeure on exports as flood fallout takes its toll: The petro-chemicals producer said its quarterly volume outlook may also be negatively affected
Read more »
Sasol declares force majeure because of KZN floodsThe company expects sales to be affected by how long it will take to recover and restore key infrastructure and utilities 🔒
Read more »
Sasol declares force majeure on exports as flood fallout takes its tollSasol declares force majeure on exports as flood fallout takes its toll: The petro-chemicals producer said its quarterly volume outlook may also be negatively affected
Read more »
KwaZulu-Natal floods offer warning on impact of climate change on healthPoorer communities are most at risk from intensifying extreme weather and SA’s healthcare system is ill-prepared to deal with the situation, researchers say.
Read more »
Sasol declares force majeure because of KZN floodsThe company expects sales to be affected by how long it will take to recover and restore key infrastructure and utilities 🔒
Read more »
SADC countries urged to 'strengthen early warning capacities' to deal with natural disasters | News24The chairperson of the Southern African Development Community, Lazarus Chakwera, who is also Malawi's president, has called on member states to speed up frameworks to deal with natural disasters. | CdeLENIN
Read more »