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Sasol's Nigeria GTL Plant Delayed Further Till 2013

Source: www.gulfoilandgas.com 5/5/2010, Location: Africa

South Africa's petrochemicals group Sasol said first production from its gas-to-liquids project in Nigeria may be delayed further until 2013 from the year before.

"The construction is at an advanced stage and we still see completion of that construction by the end of 2012 or early 2013, It will be operational during the course of 2013," Chief Executive Pat Davies said at the World Economic Forum Africa conference.

Davies also said he expects oil prices to stay around the $80 a barrel level for the rest of the year, which should help mitigate some currency impacts to the company's earnings owing to a strong rand against the U.S. dollar.

Sasol sells some of its oil products in dollars and pays for its costs in rand.

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