ISLAMABAD: Six months after issuing show-cause notices to energy companies for alleged unauthorised changes in ownership and management control, the Petroleum Division has yet to take action, despite the strategic industry classification of the firms involved.

The parent companies of Spud Energy Limited and Frontier Holdings Limited offloaded their interests without formal approval from relevant authorities, a violation of national regulations.

The controversy began on March 6, 2025, when Phoenix Exploration sold its 73.3 per cent stake in Jura Energy to IDL Investments Limited, a firm registered in the British Virgin........

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