EQUINOR PRODUCTION UK LIMITED
Company Information
- Company Number
- 07403376
- Registered Address
- 1 Kingdom Street, London, W2 6BD
- Status
- Active
- Employee Count
- 236
- Turnover
- £54,634,000
- EBITDA
- £305,000
Additional Details
- Website
- https://equinor.com
- Company Type
- Private limited Company
- Incorporated On
- 11 October 2010
- Nature of Business
- 06100 - Extraction of crude petroleum82110 - Combined office administrative service activities
- Industries
- Professional Services
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time to pay for invoices by EQUINOR PRODUCTION UK LIMITED has been increasing steadily over the three periods. It started at 24 days in the first period, increased to 28 days in the second period, and further increased to 31 days in the third period.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been relatively low, with only a 2% decrease between the first and second period, and a 1% increase between the second and third period. However, there has been a larger change in the percentage of invoices paid later than 60 days, with a 2% increase between the first and second period, and a 1% decrease between the second and third period.
Summary Analysis
EQUINOR PRODUCTION UK LIMITED has been consistently paying their invoices within their agreed terms, with 86% of invoices paid within 30 days in the first period, 88% in the second period, and 89% in the third period. However, there has been a slight decrease in the percentage of invoices paid between 31 and 60 days, from 11% in the first period to 6% in the third period. The percentage of invoices paid later than 60 days has also seen a slight decrease from 3% in the first period to 5% in the third period.
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 Jul 2021 - 31 Dec 2021 | 06 Jun 2022 | 28 | 88% | 7% | 5% | 12% |
| 01 Jan 2021 - 30 Jun 2021 | 06 Jun 2022 | 24 | 86% | 11% | 3% | 14% |
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 30 days from receipt
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
30
Dispute Resolution Process
The company notifies suppliers in the event of any invoice disputes and endeavours to resolve disputes by agreement between parties with payment made as appropriate once resolved. In exceptional circumstances, payment would be resolved via recourse to arbitration or legal process. The company employs a dedicated finance team who are available for any invoice queries.
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
EQUINOR PRODUCTION UK LIMITED is an energy company based in the United Kingdom that focuses on producing oil and gas. They have a strong commitment to sustainability and have implemented various programs to reduce their environmental impact.
Their sustainability program includes initiatives such as reducing carbon emissions, promoting biodiversity, and investing in renewable energy sources. They also strive to minimize waste and promote responsible use of resources in their operations.
EQUINOR PRODUCTION UK LIMITED offers a range of products and services, including exploration, development, and production of oil and gas. They have a portfolio of assets in the UK continental shelf, including the Mariner field, one of the largest new offshore developments in the North Sea.
The company is led by a team of experienced professionals, including their CEO Hedda Felin, who has over 20 years of experience in the energy industry. They also have a strong focus on diversity and inclusion, with a diverse workforce representing over 50 nationalities.
For more information on their products and services, their website address is www.equinor.co.uk. Their registered office address is 1 Kingdom Street, Paddington, London, W2 6BD, United Kingdom.
