Score of 92.15/100 qualifies for PaymentCheck Certification
| 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 Jul 2025 - 31 Dec 2025 | 28 Jan 2026 | 27 | 95% | 4% | 1% | 6% |
| 01 Jan 2025 - 30 Jun 2025 | 31 Jul 2025 | 27 | 96% | 4% | 0% | 6% |
| 01 Jul 2024 - 31 Dec 2024 | 28 Jan 2025 | 27 | 96% | 3% | 1% | 5% |
| 01 Jan 2024 - 30 Jun 2024 | 25 Jul 2024 | 28 | 94% | 5% | 1% | 7% |
| 01 Jul 2023 - 31 Dec 2023 | 29 Jan 2024 | 28 | 95% | 4% | 1% | 6% |
| 01 Jan 2023 - 30 Jun 2023 | 24 Jul 2023 | 28 | 95% | 4% | 1% | 7% |
| 01 Jul 2022 - 31 Dec 2022 | 23 Jan 2023 | 27 | 94% | 6% | 0% | 6% |
| 01 Jan 2022 - 30 Jun 2022 | 21 Jul 2022 | 27 | 95% | 4% | 1% | 6% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 27 | 95% | 5% | 0% | 6% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 28 | 95% | 5% | 0% | 6% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 29 | 92% | 7% | 1% | 10% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 28 | 92% | 7% | 1% | 9% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 28 | 91% | 8% | 1% | 11% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 27 | 93% | 7% | 0% | 9% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 29 | 83% | 15% | 2% | 22% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The standard payment term for third party invoices is 30 days. There are shorter payment terms for a very small number of contracts. Intercompany invoices are generally settled annually although some payments are settled more frequently.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
The Accounts Payable team is responsible for communicating on invoices that are in dispute to vendors: If an invoice is incorrect or has been rejected by the business, the Accounts Payable assistant will return the invoice to the vendor by email with a covering letter explaining the reason for the rejection. If the query is something that can be resolved quickly, the Accounts Payable assistant will contact the vendor by phone or email to request the relevant information. The invoice reviewer also sometimes contacts the vendor directly for clarification. For invoices that are submitted electronically via OpenInvoice (third party web-based system) a note is entered in OpenInvoice to explain the reason for the dispute and sent electronically to the vendor. The vendor is expected to resolve the dispute with their responsible contact or provide the required backup/information and resubmit their invoice.
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.
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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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
CNOOC Petroleum Europe Limited is a UK registered company engaged in the extraction of crude petroleum, according to its Companies House SIC classification. It has previously traded as Nexen Petroleum U.K. Limited, Encana (U.K.) Limited, PanCanadian Energy (U.K.) Limited and PanCanadian Petroleum (U.K.) Limited, reflecting a history of corporate ownership changes before becoming part of the CNOOC group. The company is registered in Uxbridge and remains an active private limited company, incorporated in 1972. No further detail on specific operations, assets or production activity is provided in the available evidence beyond its oil and gas extraction classification and its role within the wider CNOOC corporate structure.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk