United Independent Petroleum Marketing Company Limited (UNIPET) and Paria Fuel Trading Company have reached an agreement on Monday.
A press release from Paria stated that the parties have entered into a settlement agreement which resulted in the resumption of UNIPET’s supply at 5 p.m. Monday.
UNIPET has agreed to settle its debt to Paria and withdraw its High Court lawsuit and corresponding injunction application, the release noted.
Both parties will continue to work together to iron out a supply agreement which will take effect in January.
Lawyers for both companies agreed to an adjournment as they claimed their clients were locked in talks to resolve the dispute.