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Sasol Ltd., privatized in 1979, is listed on both the Johannesburg and New York Stock Exchanges. Above, the Sasol corporate office in Rosebank.

South African oil company once again outpaces its larger competitors in credit standards as the oil and gas majors endure worldwide commodities bust. 

Liquidity, the ability of a company to meet its current obligations as measured by dividing current assets by current liabilities, has long been weaker in the oil industry than in other industries, particularly technology.  But now, the liquidity and solvency of the world's largest oil and gas companies will be put to the test as the industry experiences its lowest prices in over a decade.