Sasol — Company directory

South African integrated energy and chemicals group that converts coal and imported gas into liquid fuels at Secunda and Sasolburg, with chemical plants abroad.

Sasol Limited is an integrated energy and chemicals group headquartered in Sandton, Johannesburg, and listed on the JSE under SOL and on the New York Stock Exchange under SSL. It was incorporated in 1950 as the South African Coal, Oil and Gas Corporation to turn the country's low-grade coal into liquid fuels using Fischer-Tropsch chemistry, and it still runs the world's largest coal-to-liquids complex at Secunda in Mpumalanga. The group employed 27,411 people at the last reported count and booked revenue of R249.09 billion in its 2025 financial year, with operations, marketing and sales activity across more than 30 countries.

From Sasolburg to Secunda

Sasol 1, the group's first synfuels plant, was commissioned at Sasolburg in the mid-1950s. The far bigger Sasol 2 and Sasol 3 units at Secunda were completed in 1980 and 1982 respectively. Most of the original Lurgi gasifiers at Sasolburg have since been replaced by autothermal reformers fed with natural gas piped from Mozambique, which cuts the carbon intensity of the site's syngas. Sasol Mining supplies both complexes: it produces more than 40 million tonnes of saleable coal a year, mostly gasification feedstock for Secunda Operations, exports roughly 2.8 million tonnes through the Twistdraai export plant, and works the Secunda collieries, which the company describes as the largest underground coal mining operation in the world.

How the group is organised

Energy — Secunda Operations, Sasolburg Operations and the inland Natref refinery, run as a joint venture, together with the Sasol retail and commercial fuels business in southern Africa.
Chemicals — Sasol Chemicals makes olefins, alcohols, polymers, solvents, surfactants, co-monomers, ammonia, methanol, phenolics, sulphur and bitumen, marketed through hubs in Southern Africa, North America and Eurasia.
Upstream — Sasol Exploration and Production International manages the group's oil and gas interests, principally the production sharing agreement in Mozambique that feeds gas into the South African value chain.

The value chain is deliberately integrated: coal and gas become synthesis gas, synthesis gas becomes fuels and chemical intermediates, and the chemical intermediates are further processed into specialty products sold to industrial customers outside South Africa.

FY2026 results

Sasol reported audited results for the year ended 30 June 2026 on 1 September 2026, describing a decisive year of delivery against the commitments set at its Capital Markets Day. Adjusted EBITDA rose 17% to R61 billion on a 4% increase in sales volumes, a 7% rise in the average Brent price and more than a doubling of refining margins. Earnings before interest and tax increased 37% to R25.7 billion, basic earnings per share rose 79% to R18.99 and headline earnings per share 9% to R38.31. Capital expenditure fell 18% to R21 billion as the major feedstock gas and environmental compliance projects wrapped up, while cash fixed costs held at R70 billion for a third year. Net debt, excluding leases, dropped 11% to US$3.3 billion and liquidity stood at about US$5 billion. Non-cash impairments of R16.8 billion were booked against the Secunda liquid fuels refinery, the polyethylene unit and the Mozambique production sharing agreement development. Because net debt remained above the US$3 billion threshold in the dividend policy, no final dividend was declared. Secunda Operations recorded its highest annual production in five years.

Decarbonisation and lower-carbon projects

Sasol aims to cut its greenhouse gas emissions by 30% by 2030 from a 2017 base and to lift renewable generation to its 2,000 MW ambition. In FY2026 a further 330 MW of renewables came online, taking operating capacity above 500 MW, while power purchase agreements secured more than 1,350 MW in total. The group completed a pre-feasibility study into the Boegoebaai green hydrogen and ammonia export opportunity on South Africa's Northern Cape coast and is seeking partners to take the studies further. On 15 September 2026 Sasol and White Desert announced a commercial sustainable aviation fuel supply arrangement for flights between Cape Town and Antarctica, an African first. Air Liquide took over the large on-site air separation units at Secunda in 2021 and supplies oxygen to the complex under long-term arrangements, and the two companies have since contracted renewable power for the site.

Portfolio changes and public scrutiny

The group has continued to reshape its portfolio, agreeing on 9 September 2026 to sell its nitrates business, including the primary ammonia complex at Sasolburg, to Enaex Africa. On 1 September 2026 it reported an unplanned shutdown of a downstream unit at the Natref refinery in mid-August 2026 that coincided with a planned outage elsewhere on the site, and it referenced the use of Prax's shareholding capacity at the refinery when explaining higher working capital. On 21 September 2026 the company published a response to a Centre for Research on Energy and Clean Air report that attributed health and economic impacts to emissions from Secunda, one of several exchanges over the plant's environmental compliance. Sasol has said it will not resume dividends until net debt is sustainably below US$3 billion.