Two oil reserve bases will be located in the eastern province of Zhejiang while another two will be located in Shandong and Liaoning provinces respectively, the report said.

Last month, China Daily said one of the stores in Zhejiang, located in the coastal city of Zhenhai, would be completed in August.

The four strategic oil reserve bases are expected to hold supplies for at least 30 days, it said.

Ma said the construction of oil reserve facilities will accelerate between now and 2010, with a second and third phase -- each with a capacity of 28 million tons -- already in the pipeline, according to the report.

Ma also said overseas cooperation in crude oil production will be strengthened in future.

China, the world's second-biggest oil consumer after the United States, used about 318 million tons of oil last year, of which 40 percent, or about 127 tons were imported, according to earlier reports.

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