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Sasol Ltd., a South African energy company, announces the suspension of its $11 billion project on Louisiana's Gulf Coast due to the decline in oil prices. The project aimed to expand the chemical factory near Lake Charles, Louisiana, but the plunge in oil prices has led to this decision. Sasol had committed $8 billion to produce ethylene, a compound used in plastics production and other industries, signaling a setback for one of the largest foreign investments in the U.S.
Sunday, 1 February, 2015