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China National Petroleum Corp (CNPC) plans to consolidate four units in Northwest China's Lanzhou and Northeast China's Daqing, the official Shanghai Securities News reported over weekend.

The four companies are Lanzhou Petrochemical Co (Branch), Lanzhou Petrochemical Co, Daqing Petrochemical General Co and Daqing Petrochemical Co (Branch), according to the newspaper.

Lanzhou Petrochemical Co (Branch) and Lanzhou Petrochemical Co will be merged on July 1, resulting in a new entity with assets totalling 25.3 billion yuan.

Shanghai Securities News said Daqing Petrochemical General Co, with assets of 6.5 billion yuan, will be merged with Daqing Petrochemical Co (Branch), also on July 1.

The assets of all the four units will be injected into CNPC's listed arm PetroChina Co Ltd, the report added.