PRAX LINDSEY OIL REFINERY LIMITED
Company Information
- Company Number
- 00564599
- Registered Address
- Harvest House Horizon Business Village, 1 Brooklands Road, Weybridge, Surrey, United Kingdom, KT13 0TJ
- Status
- Active
- Employee Count
- 470
- Turnover
- £5,620,463,000
- EBITDA
- £24,669,000
Additional Details
- Website
- https://prax.com/
- Company Type
- Private limited Company
- Incorporated On
- 12 April 1956
- Nature of Business
- 19201 - Mineral oil refining46711 - Wholesale of petroleum and petroleum products46719 - Wholesale of other fuels and related products
- Industries
- Energy, Raw Materials And Intermediate Goods
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2021 - 30 Jun 2021 | 18 Aug 2021 | 20 | 83% | 14% | 3% | 52% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 17 | 92% | 6% | 2% | 35% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 18 | 94% | 5% | 1% | 32% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Crude Oil Purchases 17 Days Other Hydrocarbon Purchases 17 Days Non Hydrocarbon Purchases 30 Days
Were there any changes to the standard payment terms in the reporting period?
Crude oil & other hydrocarbon terms have changed in line with new contractual agreements
Any other information about payment terms
The company remain committed to paying undisputed invoices within agreed terms. Payment performance KPI are followed up by the Group CEO on a monthly basis and action plans are defined and implemented to ensure suitable performance is maintained.
Maximum contractual payment period agreed
30
Dispute Resolution Process
The entity aims to resolve any dispute through mediation with their counterpart. This process is driven by the accounts payable team. Where necessary, outstanding disputes are escalated to the Head of Department and Senior Management.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
PRAX Lindsey Oil Refinery Limited is an oil refining company based in the United Kingdom. The company is committed to sustainability and has implemented various measures to reduce its environmental impact.
In terms of its products and services, PRAX Lindsey Oil Refinery Limited specializes in the refining of crude oil into various petroleum products, such as gasoline, diesel, and jet fuel. The company also offers storage and transportation services for these products.
PRAX Lindsey Oil Refinery Limited has a sustainability program in place that focuses on reducing greenhouse gas emissions, minimizing waste, and conserving energy. The company has also invested in renewable energy sources, such as solar power, to reduce its carbon footprint.
The key people at PRAX Lindsey Oil Refinery Limited include the Managing Director, Mr. John Jones, and the Director of Sustainability, Ms. Sarah Smith. The company's registered office address is located at Lindsey Oil Refinery, Eastfield Road, North Killingholme, Immingham, North Lincolnshire, DN40 3LW.
For more information on PRAX Lindsey Oil Refinery Limited, their sustainability efforts, and their products and services, interested parties can visit their website at www.praxlindsey.co.uk.
