| 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 2018 - 30 Jun 2018 | 30 Jul 2018 | 30 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The company trades Natural Gas and LNG. As part of the EFET payment terms, the OTC Physical Gas Invoices are settled 20 business days after delivery. As part of the MSA payment terms, the OTC Physical LNG Invoices vary dependent on the individual contracts, but typically 10 business days after delivery. The Secondary Trading costs are usually paid 10 days from invoice date. The company also settles non-trade invoices, which is usually 30 days from invoice date.
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
All disputes in relation to Trading Invoices are dealt with through our Settlements department. All disputes in relation to Non-Trading Invoices are dealt with through our Accounts Payable department.
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
PetroChina International (London) Co., Limited is a UK-registered subsidiary of PetroChina Company Limited, the Chinese oil and gas group, which has controlled the company since 2016. Its stated corporate purpose relates to activities connected with the EU Emission Trading Scheme. Companies House records list its nature of business as other business support activities, reflecting a group administrative or holding role rather than direct trading with the public. The entity holds interests in Petroineos Europe, Petroineos Fuels and Petroineos Trading, companies associated with fuel refining and trading, indicating its function within the wider group's oil and gas operations. It remains an active private limited company registered in London.
Generated from the company's website and Companies House records. Sources: northdata.com · companiesintheuk.co.uk