LONDON: Gasoline refining margins in northwest Europe held steady on Thursday as independently-held stocks of gasoline in Europe's Antwerp-Rotterdam-Amsterdam hub fell to 811,000 tonnes, according to data from Dutch-based PJK International.
Gasoline stocks fell 22 percent in the week to Thursday, consultant Patrick Kulsen said, as cargoes departed for the United States, West Africa and Latin America.
There was only one trade outside the afternoon trading window as industry event International Petroleum Week continued.
Naphtha refining margins weakened slightly but remained at levels not seen for over a year. Shipping fixtures showed 220,000 tonnes of naphtha travelling from the Mediterranean to Japan. French energy major Total said on Thursday that it will cut jobs and halve capacity at its Lindsey refinery in Britain, as it adapts to weak demand for fuel in Europe and rising competition from overseas.
In Europe, Germany's 310,000 barrels-per-day (bpd) Karlsruhe refinery will begin maintenance on several units this week and will fully shut down for six weeks starting on Feb. 25.
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