BHP Petroleum is implementing emergency measures to support cash flow to suppliers by making immediate payments of outstanding invoices and moving to seven-day payment terms for the next six months for small and local businesses that support BHP’s Petroleum business. This is a reduction from the current payment terms and covers over 200 suppliers. The revised payment term arrangements will take effect in the week commencing April 13th.
Geraldine Slattery, President Operations Petroleum said: “BHP’s first priority is the safety and health of our workforce and communities. Communities across the country rely on the critical energy resources we produce and we rely on our suppliers to continue delivering this resource.”
“A cornerstone of the social value of our business is the continued health of the companies we count as partners and suppliers, especially during this time of great uncertainty.”
BHP Petroleum spends more than $US150 million per year with its supplier base across US, Canada, Mexico and Trinidad and Tobago.