Benchmark northwest European gasoline refining margins ended the week some 15 percent lower, weighed down by weak export activity and rising global stocks. The 650,000 barrel per day (bpd) Dangote refinery near Lagos, Nigeria, set to be Africa's biggest, is unlikely to start production until 2022, two years later than the target date, sources with direct knowledge of the matter said.
Global light distillates stocks, which include gasoline and naphtha, posted a build of 3.1 million barrels last week and are now 2 million barrels higher year-on-year, according to Facts Global Energy. Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp refining and storage hub rose by 5 percent in the week to Thursday, data from Dutch consultancy PJK International showed
Low water levels along the Rhine river have sharply reduced barge loading capacity to 600 to 700 tonnes, around one third of a standard barge, PJK's Lars van Wageningen said Royal Dutch Shell Plc completed restarting the gasoline-producing unit at its 209,787 barrel per day (bpd) Convent, Louisiana, refinery on Wednesday, said sources familiar with plant operations. Gasoline (in tonnes).
Comments
Comments are closed.