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Europe Gasoline/Naphtha-Gasoline refining margins tumble

ReutersMay 13, 2025 5:00 PM

- Northwest European gasoline profit margins fell by about $2.96 to $13.72 a barrel on Tuesday, as Nigeria's giant Dangote refinery cancelled June maintenance on its gasoline-producing RFCC unit.

  • A total of 4,200 metric tons of Eurobob E5 barges traded in the Argus window on Tuesday, with Gunvor selling to Varo, BMV Mineraloel and TotalEnergies.

  • A further 4,000 tons of E10 barges traded on Tuesday, with Shell selling to BP.

  • Nigeria's Dangote oil refinery has cancelled June maintenance at its 204,000 barrels per day gasoline-making unit as it completed planned works during an unplanned shutdown from April 7 to May 11, according to industry monitor IIR.

  • BP's 440,000-barrel-per-day (bpd) refinery in Whiting, Indiana, restarted its reformer unit last week, industry monitor IIR Energy said.

  • EU and UK gasoline and blending component exports to other regions are expected to reach 999,000 barrels per day in May, down slightly from 1.1 million bpd in April, Kpler data showed.

Trade

Bid

Offer

Prev.

Seller

Buyer

Ebob Barges MOC Platts E5

(fob ARA)

EUROBOB-ARA

$689

TotalEnergies

Varo

Ebob Barges E10 Platts (fob ARA)

Ebob Barges Argus E5 (fob AR)

$674.75-675 (4.2KT)

$685.75 (5.8KT)

Gunvor

Varo, BMV, TotalEnergies

Ebob Barges E10 Argus (fob AR)

$679 (4KT)

$689 (8KT)

Shell

BP

June swap (fob ARA)

$681.25

$676.50

Premium Unleaded (fob ARA)

PU-10PP-ARA

Cargoes

(fob MED)

June +$14 FOB Rijeka

Trafigura

BP

Cargoes (cif NWE)

Naphtha

(cif NWE)

NAF-C-NWE

Balmo May +$6

Ebob crack (per barrel)

$13.72

Prev. $16.68

Brent futures

LCOc1

Rbob

RBc1

Rbob crack

RBc1-CLc1

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