Sasol nearly doubles sales of natural gas from its Mozambique fields

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Fuels and chemicals group Sasol almost doubled sales of natural gas from its Mozambican Pande and Temane fields in the nine months to March to 12.4-billion standard cubic feet from 7.1-billion standard cubic feet in the same period last year as it began supplying the Central Termica de Ressano Garcia (CTRG) gas to power plant from January, it said on Thursday.

The group also grew sales of crude oil from its Gabon interests significantly, to 1.337-million barrels from 875-million barrels as new wells came on line from the Etame Expansion Project and South East Etame and North Tchibala.

But the group’s third quarter production and sales report showed other areas of its business were more subdued. Total sales of liquid fuels (white product) was 44.4-million barrels, close to last year’s 44.3-million barrels, with an additional 1.8-million barrels of black product, unchanged from last year.

Sasol said full year liquid fuels sales were expected to be about 60-million barrels. Last year total sales of white and black product were 61.5-million barrels.

Sasol's headquarters in Rosebank, Johannesburg. Picture: FINANCIAL MAIL
Sasol’s headquarters in Rosebank, Johannesburg. Picture: FINANCIAL MAIL

In the Canadian operations, sales of natural gas dropped to 15.1-billion standard cubic feet from 16.6-billion standard cubic feet and sales of condensate fell to 112.6-thousand barrels from 145-thousand barrels.

The group said this reflected reduced drilling and completion activities in line with its response plan, which is an adaptation to oil prices of $45 to $50 per barrel.

Production volumes would increase marginally during the last quarter as additional wells were completed.

Source: BDLive