The Competition Commission of Pakistan (CCP) has approved Petroleum Exploration Limited (PEL) to acquire additional shareholding in three oil and gas companies.
According to the CCP PEL has been granted approval to purchase shares in PKP Kirthar, PKP Exploration II and PKP Kandhkot Limited.
According to the CCP, the transaction does not pose any risk of creating a monopoly in the market. The commission stated that the acquisitions would only alter the ownership structure of the companies but would not adversely impact market competition.
The CCP said that all transactions have been approved under the Competition Act, 2010.
