Pakistan, July 27 -- The Directorate General of Petroleum Concessions (DGPC), under the Ministry of Energy, has issued show-cause notices to two petroleum companies for failing to report recent ownership changes. The companies in question-Spud Energy Private Limited (SEPL) and Frontier Holdings Limited (FHL)-allegedly did not notify authorities about changes in their ownership structures, violating petroleum regulations.

According to the Petroleum Division, companies are required to seek approval from the ministry and relevant regulators before making changes in ownership or board structure. However, both SEPL and FHL did not comply. If they fail to respond by August 18, their operational licenses may be revoked.

The notices reveal that...