Published reports

PREMIER OIL E&P UK ENERGY TRADING LIMITED

Company number: 04103928

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 January 2021 to 30 June 2021

Report filed on:

30 July 2021

Approved by:

Alexander Krane

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Payment statistics

Average time taken to pay invoices: 6 days

Invoices paid:

• within 30 days: 100%

Late and disputed:

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

20 days

Standard payment terms

Standard payment terms are 20th calendar day of the month, following month of supply

Were there any changes to the standard payment terms in the reporting period?

No

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

20 days

Invoices are prepared internally and passed for prompt payment processing.

Any other information about payment terms

No further comment provided

Dispute resolution process

Invoices are self-billed and prepared on production data mutually agreed for billing purposes. Any disputes should be addressed either ahead of invoice/payment, or alternatively production data may be mutually reconciled, with any payment or refund processed annually.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.

Yes, this business has signed up to: We adhere to the Supply Chain Principles of Oil & Gas UK

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.

No

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.

No

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?

No

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No