Oil giant: Sasol to stick with hedge

2009-01-12 00:00

Sasol, the R199 billion petrochemicals giant, is to continue hedging about 30% of its oil production following a more than two-thirds decline in the oil price from its 2008 high.

“For the time being, we’ve no intention of changing our hedging structure,” said Sasol communication manager Jacqui O’Sullivan, adding that the group expected oil to trade at its present levels in the short term.

Brent crude is currently trading at $45,39 per barrel, about 70% off its $147 per barrel high in 2008.

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