Drilling & Wells

VRN meaning in oil and gas

Definition

VRN - VAT Registration Number

VRN means VRN - VAT Registration Number. Got this from an e-mail: "In Europe (and some countries outside of Europe), companies need to declare their purchase and sales to the VAT authorities. In order to do so, customers…

Got this from an e-mail: "In Europe (and some countries outside of Europe), companies need to declare their purchase and sales to the VAT authorities. In order to do so, customers will provide their vendors with their VAT registration number (VRN) and expect the seller to provide an invoice showing the customer and vendor VRN’s. In most countries this VRN is unique to a single registered company, or at worst (as in the UK), the VRN belongs to a group of affiliated companies. So, when a customer asks for a specific VRN to be shown on the invoice, this can give us a clear indication of who the real SoldTo is."

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