Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 139
Dated Brent Crude prices applied during the year:
Dated Brent Crude
2020
US$
76,44
54,20
36,21
69,96
51,22
13,24
Summary of our derivatives
In the normal course of business, the group enters into various derivative transactions to mitigate our exposure to foreign exchange
rates, interest rates, and commodity prices Derivative instruments used by the group in hedging activities include swaps, options,
forwards and other similar types of instruments.
Financial
Financial
Financial
Financial
asset
liability
asset
liability
Income statement gain/(loss)
2021
Rm
2021
Rm
2020
Rm
2020
Rm
2021
Rm
2020
Rm
2019
Rm
Derivative financial
instruments
Interest rate swap
options
Crude oil put options
Crude oil zero cost
collars
Crude oil swap
options
Crude oil futures
Ethane swap options
Coal swap options
Other commodity
derivatives
Foreign exchange
contracts
Foreign exchange
zero cost collars
Other foreign
exchange
derivatives*
–
46
(2 103)
(46)
–
113
(4 143)
–
(37)
(1 545)
(101)
(153)
–
(1 126)
–
(174)
(1 871)
(157)
–
–
156
–
(1 175)
(20)
–
–
–
–
104
–
–
(66)
(230)
–
(1 267)
(774)
680
–
(160)
538
(732)
–
9
(49)
11
(103)
–
75
(40)
417
(1)
1 011
(372)
–
(2 861)
4 027
(4 298)
323
85
1 150
–
–
887
(514)
–
(2 183)
2 058
(1 562)
2 323
(5 073)
645
(9 761)
2 282
(6 997)
–
(100)
–
(130)
2 323
(5 173)
645
(9 891)
(1 475)
(498)
–
–
265
(462)
91
–
(794)
SASOL LIMITED COMPANY
High
Average
Low
2021
US$
SASOL LIMITED GROUP
CONSOLIDATED FINANCIAL STATEMENTS
A substantial proportion of our turnover is derived from sales of petroleum and petrochemical products. Market prices for crude
oil fluctuate because they are subject to international supply and demand and political factors. Our exposure to the crude oil price
centres primarily around the selling price of the fuel marketed by our Energy business which is governed by the Basic Fuel Price
(BFP) formula, the crude oil related raw materials used in our Natref refinery and certain of our offshore operations including where
chemical prices are linked to the crude oil price. Key factors in the BFP are the Mediterranean and Singapore or Mediterranean and
Arab Gulf product prices for petrol and diesel, respectively.
NOTES TO THE FINANCIAL STATEMENTS
Our exposure to and assessment of the risk
(2 465)
Non-derivative
financial
instruments
Financial guarantees
OTHER
* Mainly relates to a US dollar derivative that is embedded in long-term oxygen supply contracts to our Secunda Operations.
137
Sasol Annual Financial Statements 2021