* EPS, headline EPS to fall between 40-50 percent
* Decline mainly due to the lower oil, chemical prices
* Shares tumble 5 percent
(Adds analyst, shares, details)
JOHANNESBURG, June 19 (Reuters) - South Africa's Sasol, the world's top maker of motor fuel from coal, said on Friday it expects full-year earnings to fall by up to 50 percent on lower oil prices, sending its shares into a 5 percent dive.
Sasol said in a statement it expects attributable earnings per share (EPS) and headline EPS for the year to fall by between 40 to 50 percent compared with the prior year, mainly due to lower crude oil and chemical prices.
Headline EPS, the main profit gauge in South Africa, strips out certain one-off financial and non-trading items.
"The trading statement has spooked the market, the decline in forecast earnings is probably worse than what the market expected, and the share has bucked the trend among resources," Ferdi Heyneke, a portfolio manager at Afrifocus Securities said.
In March, Sasol had predicted its full-year earnings would fall on lower oil prices despite higher production.
Heyneke said the share could fall further, but would likely stabilise on buying interest at some point. "It can fall further still, but it is a popular share and will be resilient at some point especially with oil prices rising," he said.
Sasol warned its full-year earnings may be further hit.
"Our results may be further impacted by changes in the oil and product prices, the impact of a much stronger rand on closing financial assets and liabilities, additional impairments as well as any adjustments resulting from our year-end process," the Johannesburg-based petrochemicals company said.
"This may result in a change in the estimated earnings."
Sasol's stock traded 4 percent lower at 285.50 rand by 0832 GMT -- the biggest fall on the JSE Top-40 index, which was 0.26 percent up.
Sasol's earnings were also punctured by fines in cases relating to anti-competitive practices, the company said.
Sasol was fined 250.68 million rand ($30.74 million) as a penalty for fixing prices in South Africa's fertiliser and phosphoric acid sectors, and 318 million euros ($442.7 million) by the European Commission last year for its role in a paraffin wax price-fixing cartel.
Sasol said overall production rose mainly due to improved output at its Oryx gas-to-liquid joint venture in Qatar, but production of coal-to-liquids at its South African synthetic fuels unit was seen falling 4 percent from last year.
Sasol said it has a strong cash position that could fund growth in the tough global economic climate, but said it had reprioritised its planned capital expenditure for this year. ($1=8.152 Rand) ($1=.7183 Euro) (Reporting by James Macharia; Editing by Rupert Winchester)