OWTU rejects Petrotrin offer

An eight-hour discussion between Petrotrin and the Oilfield Workers’ Trade Union (OWTU) has failed to bring any resolution. The discussion was held between management of Petrotrin, including its president Khalid Hassanali and the OWTU, a release issued yesterday by Petrotrin stated. Among the issues discussed were profit sharing for the 2009/2010 period. 

The release stated that there continues to be differing positions on this issue—OWTU is claiming that Petrotrin owed the employees variable pay for 2009/2010, while Petrotrin is maintaining that based on the audited financial statements there was a loss for that year. “The OWTU insists that we pay an estimated $145 million in variable pay for the period 2009/2010, although Petrotrin suffered a loss,” the release stated.

However, Petrotrin in an effort to ensure the continued operations of the company made an offer to pay an advance towards the 2011/2012 variable pay. This offer was rejected by OWTU, the release stated, with the meeting being adjourned without a clear resolution. Petrotrin described Friday’s turn of events as regretful, saying they are open to further discussions. The company also reminded employees that work stoppage at this time would negatively impact their reputation as a reliable supplier.