South African petrochemicals giant Sasol announced on 17 August that it would write down the value of its US chemical assets by R111.6bn ($6.5bn), as it announced a loss before interest and tax of R91.3bn for the year to 30 June. Sasol has put its stake in the just-completed Lake Charles Chemical Project up for sale as part of efforts to deal with its $11bn debt overhang.
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