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REPSOL RESOURCES UK LIMITED

Company number: 00825828

Reporting period:
1 July 2023 to 31 December 2023

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

This report was filed on 30 January 2024

and approved by Jose Carlos de Vicente Bravo

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

• within 30 days: 91%
• in 31 to 60 days: 7%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 9 %

Payment terms

Shortest standard payment period

10 days

Longest standard payment period

30 days

Standard payment terms

The standard payment terms are 30 days from receipt of an invoice prepared as per the requirements of the relevant contract. RRUK does not have any contracts whose payments terms are greater than 30 days.

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

No

Maximum contractual payment period agreed

30 days

no

Any other information about payment terms

n/a

Dispute resolution process

Any payment disputes are resolved according to the disputes mechanism stipulated in the oil and gas industry standard LOGIC contracts, which are available on www.logic-oil.com. Dispute resolution is defined within each Contract. There is an escalation model, with first point of call routed to a Contract Specialist (Contract owner) within the organisation.

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

Yes – RRUK abide by the OGUK Supply Chain Code of Practice, and also participate in the Working as One survey for OEUK.

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.

Yes

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