NATIONAL OILWELL VARCO UK LIMITED
Company Information
- Company Number
- 00873028
- Registered Address
- Stonedale Road, Unit 10 Oldends Lane Industrial Estate, Stonehouse, Gloucestershire, United Kingdom, GL10 3RQ
- Status
- Active
- Employee Count
- 1,980
- Turnover
- £374,128,000
- EBITDA
- £1,151,000
Additional Details
- Website
- https://nov.com
- Company Type
- Private limited Company
- Incorporated On
- 4 March 1966
- Nature of Business
- 09100 - Support activities for petroleum and natural gas extraction
- Industries
- Energy
- Region
- South West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for NATIONAL OILWELL VARCO UK LIMITED to pay invoices has increased steadily over the past three periods, from 34 days in 2018 to 61 days in 2023. This is a 79.4% increase over the three-year period.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been relatively stable, with a low of 19% in 2022 and a high of 55% in 2018. However, the volatility in the percentage of invoices paid later than 60 days has increased significantly, with a low of 12% in 2018 and a high of 40% in 2022.
Summary Analysis
Over the past three periods, there has been a significant increase in the average time taken for NATIONAL OILWELL VARCO UK LIMITED to pay invoices, from 34 days in 2018 to 61 days in 2023. This is reflected in the decrease in the percentage of invoices paid within 30 days, from 55% in 2018 to 19% in 2023. The percentage of invoices paid later than 60 days has also increased, from 12% in 2018 to 40% in 2022.
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 2023 - 30 Jun 2023 | 08 Aug 2023 | 61 | 24% | 41% | 35% | 54% |
| 01 Jul 2022 - 31 Dec 2022 | 23 Feb 2023 | 66 | 23% | 37% | 40% | 54% |
| 01 Jan 2022 - 30 Jun 2022 | 23 Feb 2023 | 65 | 19% | 41% | 40% | 58% |
| 01 Jul 2021 - 31 Dec 2021 | 23 Feb 2023 | 55 | 27% | 39% | 34% | 51% |
| 01 Jan 2021 - 30 Jun 2021 | 23 Feb 2023 | 54 | 26% | 40% | 34% | 59% |
| 01 Jul 2020 - 31 Dec 2020 | 23 Feb 2023 | 55 | 26% | 38% | 36% | 57% |
| 01 Jan 2020 - 30 Jun 2020 | 23 Feb 2023 | 52 | 27% | 41% | 32% | 61% |
| 01 Jul 2019 - 31 Dec 2019 | 22 Feb 2023 | 49 | 29% | 47% | 24% | 58% |
| 01 Jan 2019 - 30 Jun 2019 | 21 Dec 2020 | 47 | 32% | 48% | 20% | 52% |
| 01 Jul 2018 - 31 Dec 2018 | 21 Dec 2020 | 41 | 44% | 38% | 18% | 57% |
| 01 Jan 2018 - 30 Jun 2018 | 21 Dec 2020 | 34 | 55% | 33% | 12% | 65% |
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
Standard terms are 60 days but we do have legacy vendors/suppliers still at 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
Dispute Resolution Process
Disputes are handled on a case by case basis and worked through by the purchasing team.
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.
❌
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.
✅
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.
❌
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?
❌
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
National Oilwell Varco UK Limited is a leading provider of products and services to the oil and gas industry in the United Kingdom. The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact.
Their sustainability program includes reducing greenhouse gas emissions, using renewable energy sources, and implementing waste reduction strategies. They also prioritize health and safety, both for their employees and for the communities where they operate.
The company offers a wide range of products and services, including drilling equipment, wellbore construction, and completion tools. They also provide repair and maintenance services for these products. Additionally, they offer training and consulting services to help their clients improve their operations.
Key people at National Oilwell Varco UK Limited include the Managing Director, who oversees the company's overall operations, and the Director of Sustainability, who leads the company's sustainability efforts.
Contact information for National Oilwell Varco UK Limited can be found on their website, including their registered office address in Aberdeen. The company's website also provides more details about their products, services, and sustainability initiatives.
