Europe Gasoline-Firms as West Africa demand offsets US arb

LONDON, Nov 2 (Reuters) - European gasoline prices firmed on
Monday as expected demand from West Africa offset the limited
arbitrage opportunities to the Untied States for November.

"Nigerian demand for gasoline is healthy, but maybe not for
kerosene," one trader said.

PRICES

* Barges of benchmark 10 ppm premium unleaded winter
gasoline PU-10PP-ARA firmed to trade between $700-$710 fob ARA
throughout the day from $700-$705 at Friday's close.

* Trafigura appeared as the major seller in the late
afternoon session, selling 15,000 tonnes out of about 20,000
tonnes traded. The company was a buyer in early trading.

* The gains in the Eurograde gasoline prices were limited,
compared with crude oil and its crack to dated Brent BFO-
weakened to $8.75 a barrel from $9.60 on Friday, which was the
highest since early September.

* Brent crude LCOc1 futures rose 1.6 percent to $76.40 a
barrel by 1732 GMT.

* U.S. RBOB gasoline futures RBc1 were up 1.27 percent at
$1.9843 a gallon.

SWAPS

* Arbitrage swaps showed European exports to the United
States for November would no longer be profitable, having fallen
from around $2 a tonne a week ago to minus 70 cents. December
arbitrage swaps were around $3.60, suggesting exports may pick
up towards the end of the year.

* The gasoline swap for November rose $6.50 from Friday to
$700 a tonne fob ARA. December is backwardated at a $6.50
discount to November.

* The crack spread for the fourth quarter fell about $1 to
$5.45 a barrel.

* Naphtha swaps were little changed. Cracks fell about 10
cents across the curve, traders said.

NIGEIRA, IRAN

* Traders said spot demand from Nigeria was likely to remain
healthy in November.

* Iran will import around 102,000 barrels per day (bpd) of
gasoline this month or about 12 cargoes, steady to volumes
purchased in October, traders said on Monday. [ID:nL2291249]

REFINERY [REF/E]

* Lithuanian refinery Mazeikiu, a unit of Polish refiner PKN
Orlen PKNA.WA, raised its output to 80 percent of capacity
following maintenance that reduced it to 70 percent, PKN Orlen
spokesman said on Monday.

* "Output increased to 80 percent of capacity after the
maintenance," Dawid Piekarz said. "However, we continue to limit
production due to weak refining margins." [ID:nL2356045]
(Reporting by Ikuko Kurahone; editing by Sue Thomas)