China's proven oil reserves, or crude oil classified as practical to extract, totalled 6.5 billion tons at the end of 2003.

This is over 40 percent of China's estimated total recoverable reserves and could provide for steady output growth over the next 20 years.

According to the International Energy Agency, China's oil consumption was over 250 million tons last year and the figure is expected to exceed 300 million tons this year.

It has overtaken Japan as the second largest oil consumer in the world, and is also the fifth biggest producer in the world.