By Billy Gray

Sasol raised its guidance for fiscal 2026 fuel sales volumes after fiscal second-quarter production improved at its Natref refinery, but trimmed its gas-production outlook.

The South African chemicals and energy group on Thursday said that for the year through June 30 it now expects fuel sales volumes to increase by 5% to 10% on year, compared with its earlier forecast of a 0% to 3% uptick.

It trimmed its outlook for gas production volumes, now expecting a 0% to 5% on-year increase compared with its earlier 0% to 10% forecast, citing project-related delays and reduced internal and external demand.

Natural-gas production in the quarter through Dec. 31 was 29 billion standard cubic feet, down 4% on year.

Sasol said saleable production in its mining business for the first half was 7% lower than the prior-year period due to production challenges, including temporary plant closures. It expects saleable production for the full fiscal year to remain within its guidance of 28 million to 30 million metric tons.

In the group's chemical unit, total sales for the first half were $3.86 billion, up 1% on year.

"Looking ahead, the operating environment is expected to remain challenging, given heightened geopolitical tensions, evolving global trade dynamics and continued softness in certain end markets impacting financial performance," the company said.

Write to Billy Gray at william.gray@wsj.com

(END) Dow Jones Newswires

January 22, 2026 01:55 ET (06:55 GMT)

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