UPDATE 1-Sinopec opens 97 pct of gas wells shut by quake
(Adds comments on company's refining losses)
BEIJING, May 26 (Reuters) - Sinopec (0386.HK)(600028.SS) said on Monday it had resumed production at 97 percent of the gas wells in Sichuan that had been shut down by the massive earthquake two weeks ago.
"Of the 214 wells, 208 have resumed operations," said Chen Ge, a board secretary of Sinopec.
Industry officials have said there is little danger of a direct impact on oil demand from a largely rural, underdeveloped region that accounts for about 4 percent of China's economy.
PetroChina (0857.HK) rushed fuel to the region from other parts of the country, replenishing fuel stocks, resuming operation of a main oil pipeline within a day after the quake and reopening a local refinery after a 50-hour stoppage.
Asia's largest refiner is operating at full capacity despite losing about 3,000 yuan for each tonne of gasoline and diesel that it produces, Chen added. The refiner is being squeezed by high global costs of crude oil and state-set price caps on refined products.
He also said diesel fuel shortages have developed in some parts of Beijing, with trucks waiting in lines for fuel at some stations. He did not provide further details.
($=6.94 yuan) (Reporting by Jim Bai; Writing by Kirby Chien; Editing by Ken Wills)
