Sitara Petroleum denies awareness of GO closure reports

July 06, 2026 (MLN): Sitara Petroleum Service Limited (SPSL) has moved to dispel market chatter around Gas & Oil Pakistan Limited (GO), stating it has not received any official communication indicating GO is shutting down operations, after reports and visuals suggesting a closure began circulating on social media.

In a response to Mettis Global, SPSL's CEO Zaheer Baig said the Company is "not aware of any official development or communication indicating that GO Petroleum is shutting down its operations," and added that SPSL "does not comment on market speculation or unverified reports" as a matter of policy.

The clarification is significant given the depth of SPSL's reliance on the GO network.

Per its April 2026 IPO prospectus, SPSL operates 54 of its 61 retail pumps under the GO brand, making it GO's largest dealer by volume, alongside 7 jointly owned Aramco-branded outlets.

The CEO said SPSL's "retail network and logistics business" continue to operate "as normal, with no disruption to our day-to-day operations."

He added that as a listed entity, SPSL "continuously monitors operational and business risks and maintains appropriate business continuity and contingency plans," while declining to comment on hypothetical scenarios.

SPSL further stated that it remains focused on "ensuring uninterrupted service to our customers and protecting shareholders' interests," and that any material development requiring disclosure would be announced "in accordance with applicable regulatory requirements."

No official statement from GO itself confirming or denying closure has been issued as of this report.

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