Karachi: Mari Energies Limited has issued a formal clarification regarding recent reports surrounding the termination of its Gas Sale and Purchase Agreement (GSPA) with Petrosin CNG (Pvt) Limited, emphasizing its lawful termination due to license issues.

The announcement, dated July 21, 2026, comes amid scrutiny over the termination process and subsequent arbitration proceedings initiated by Petrosin. Mari Energies Limited, known within the Energy market category, categorically refutes any claims that the termination was improper. The company asserts that the GSPA was contingent upon Petrosin possessing a valid operating license, which it reportedly lacked at the time of termination.

According to information available from the Pakistan Stock Exchange (PSX), Mari Energies' position has been consistently upheld by Pakistani judicial bodies, with no adverse orders presently affecting the company's standing. The company has reiterated that its actions have been transparent and compliant with legal standards, maintaining that the court proceedings related to this matter are part of the public record.

The company has acknowledged the ongoing arbitration proceedings, which remain confidential, expressing confidence that the outcome will affirm its stance. Mari Energies Limited remains steadfast in its belief that the termination of the GSPA was justified and lawful, reinforcing its commitment to adhering to regulatory requirements.