Northwest European gasoline refining profit margins fell by $1.65 a barrel on Friday to $5.58 as stronger underlying crude prices weighed, but lower regional inventories limited further losses.

A total of 12,000 metric tons of E5 gasoline barges traded, as Trafigura and Litasco sold to TotalEnergies and Gunvor.

Another 4,000 tons of Eurobob E10 traded, Varo and Shell bought from TotalEnergies.

Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell by around 8.5% in the week to March 13 to 1.15 million tons, data from Dutch consultancy Insights Global showed.

Consultancy FGE Energy estimates Nigeria’s Dangote oil refinery is running at about 400,000 barrels per day and can raise processing rates to 500,000 bpd by the third quarter.

The refinery plans to shut its 204,000 bpd gasoline-making unit for 30-day maintenance tentatively expected to start on June 1, according to industry monitor IIR.
Source: Reuters