Incoming joint Sasol CEO Bongani Nqwababa believes “simplistic” correlations of the company’s performance to the oil price will become less relevant in coming years as the revenue and profit contribution of its chemicals business rises in line with its large North American expansion projects. Nqwababa, who participated in a media roundtable dedicated specifically to the company’s chemicals business, noted that the group had already been reclassified as a chemicals company by the JSE, which moved its listing from the oil and gas sector in March last year to the basic materials sector.
