The strike at state-owned Petrotrin has been called off.
The strike was dismissed this afternoon after yet another marathon meeting between the OWTU and the company.
OWTU president Ancil Roget has stated that the union was offered a 5% increased for the period 2011 to 2014 and that the union has accepted the offer.
A first settlement is expected to be paid by the end of February.
This effectively ends the deadlock between the union and the company and will see both sides going back to the negotiating table in good faith.
The workers and the trade union are expected to meet tomorrow morning as the union updates its members on what transpired.