PREMIER OIL UK LIMITED
Company Information
- Company Number
- SC048705
- Registered Address
- 4th Floor,Saltire Court, 20 Castle Terrace, Edinburgh, EH1 2EN
- Status
- Active
- Employee Count
- 0
- Turnover
- £2,150,752,000
- EBITDA
- £1,978,303,000
Additional Details
- Website
- https://premier-oil.com
- Company Type
- Private limited Company
- Incorporated On
- 14 May 1971
- Nature of Business
- 06100 - Extraction of crude petroleum06200 - Extraction of natural gas
- Industries
- Property,Infrastructure And Construction
- Region
- Scotland
Time to Pay
Payment Timeline
Payment Features
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 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% |
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 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
Dispute Resolution Process
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
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
Premier Oil UK Limited is a leading independent oil and gas exploration and production company in the UK. The company was founded in 1934 and is headquartered in London, England.
The core activities of Premier Oil UK Limited include exploring, developing, and producing oil and gas resources in the UK and internationally. They have a strong focus on sustainability and are committed to minimizing their environmental impact through responsible practices and investments in renewable energy.
The company's sustainability program includes initiatives such as reducing emissions, managing waste and water resources, and promoting biodiversity. They also have a strong commitment to health and safety, both for their employees and the communities in which they operate.
Premier Oil UK Limited offers a range of products and services, including crude oil and natural gas production, as well as exploration and development of new fields. They also provide technical and operational support to other oil and gas companies.
The key people at Premier Oil UK Limited include its CEO, Tony Durrant, and its Chairman, Roy Franklin. The company has a team of experienced professionals who are dedicated to driving the company's success.
For any inquiries or information, interested parties can contact Premier Oil UK Limited through their website, which is www.premier-oil.com. The company's registered office address is Premier Oil plc, 23 Lower Belgrave Street, London, SW1W 0NR, United Kingdom.
In conclusion, Premier Oil UK Limited is a reputable company in the oil and gas industry, with a strong commitment to sustainability and responsible practices. They offer a variety of products and services and have a team of experienced professionals leading the way.
