Formosa, which operates one of Asia's 10 largest standalone refineries, has had to keep its October average throughput low after shutting a residue desulphurizer (RDS) for maintenance while another RDS was idled following a fire in July.

The 80,000 bpd RDS is expected to restart in the first half of November while the fire-affected unit will remain shut until next year, said spokesman KY Lin.

With the restart of the RDS next month, Formosa would be able to keep both of its gasoline-making units, or residue fluid catalytic crackers (RFCCs), in operation rather than only one, Lin said.

With both RFCCs in operation, Lin added that Formosa may be able to offer a spot gasoline cargo for December loading.

Formosa recently sold a gasoline cargo for November loading at premiums of about $1 a barrel to Singapore quotes free on board (FOB), industry sources said.

It dramatically reduced gasoline exports this year as the pandemic hurt demand and affected refinery run rates.

Overall gasoline buying interest remains a concern, though demand has recovered in pockets of Asia, said Lin.

"Demand has improved in China and India but these two are key exporters of gasoline. We are more concerned about demand from importing countries," he said.

Indonesia, Asia's top gasoline importer, is still struggling to contain the spread of the coronavirus while demand in Vietnam has been curbed by floods, Lin said.

Thailand has been contending with political unrest while Malaysia Prime Minister Muhyiddin Yassin is grappling with the coronavirus crisis and a leadership challenge, Lin added.

(Reporting by Seng Li Peng; Editing by David Goodman)

By Seng Li Peng