| 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 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 an energy company based in the United Kingdom that specializes in oil and gas exploration and production. The company is committed to sustainability and has a strong focus on minimizing its environmental impact.
Their sustainability program includes initiatives such as reducing carbon emissions, conserving biodiversity, and promoting responsible water usage. They also prioritize the safety and well-being of their employees and communities where they operate.
The company's main product is crude oil, which is extracted from their offshore fields in the UK North Sea. They also offer natural gas production and have several projects in the development stage. Their services include exploration, drilling, and production operations.
The key people at PREMIER OIL E&P UK LIMITED include CEO Tony Durrant, CFO Richard Rose, and COO Robin Allan. They lead a team of experienced professionals who are dedicated to delivering safe and sustainable operations.
To contact the company, interested parties can visit their website at https://www.premier-oil.com/ or reach out to their registered office address at Premier Oil plc, 23 Lower Belgrave Street, London, SW1W 0NR, United Kingdom.