Industry ranking
| 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 | 30 Jul 2021 | 29 | 70% | 29% | 1% | 31% |
| 01 Jan 2020 - 30 Jun 2020 | 27 Jul 2020 | 28 | 65% | 34% | 1% | 37% |
| 01 Jul 2019 - 31 Dec 2019 | 23 Jan 2020 | 27 | 80% | 20% | 1% | 23% |
| 01 Jan 2019 - 30 Jun 2019 | 25 Jul 2019 | 29 | 68% | 31% | 1% | 34% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 28 | 68% | 31% | 1% | 36% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 30 | 55% | 44% | 1% | 47% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 30 days from receipt of correct and fully supported Supplier invoice, in electronic format. Joint Venture invoices are paid on earlier contracted due dates – usually 10 working days, which is 14 days elapsed, this accounts for less than 1% of all our invoices paid.. Direct debit Supplier payments normally debit our bank account earlier than 30 days from invoice receipt. Supplier credit notes are paid/taken earlier, as soon as they can be offset against payments.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
Contact is preferably via email. Suppliers are directed to a shared mailbox with invoice queries. The AP team attend to correspondence relating to overdue or disputed invoices promptly. Technical queries are often handled directly by non- Finance personnel. Non-compliant invoices are not entered in our P2P system but are returned to Suppliers with reasons stated on a cover letter. These invoices must be resubmitted correctly and payment terms begin from resubmission date
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
Premier Oil E&P UK Limited is a UK-registered company with SIC codes covering extraction of crude petroleum, extraction of natural gas, and activities of head offices, indicating involvement in upstream oil and gas exploration and production within a wider group structure. The company was incorporated in November 1992 and has traded under several previous names, including Ruhrgas UK Exploration And Production Limited and E.ON E&P UK Limited, before adopting its current name. It remains an active private limited company registered in London. No further detail on specific fields, operations, or activities is available from the evidence provided.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk