BP's impact on the UK economy in 2015

BP’s contribution to the UK economy report sets out to quantify the impact of our business in more detail. We hope it will be of use in understanding how a large business plays its part in creating wealth and adding value to the national economy

2015 economic impact highlights

2015 economic impact highlights
  • BP supported an estimated £8.7 billion gross value added contribution to the UK’s gross domestic product (GDP) and 125,900 UK jobs in 2015.
  • Of this total, BP’s direct UK operations – such as oil and gas fields, petrochemical plants, fuels retailing facilities and major offices – created a £2.7 billion gross value added contribution to UK GDP and employed 17,780 people.
  • BP spent a total of £7.7 billion with UK suppliers: 
    - £5.2 billion on non-capital goods and service, supporting an estimated £3.9 billion indirect contribution to GDP and over 76,440 jobs.
    - £2.5 billion capital expenditure, supporting an estimated £2.1 billion gross value added contribution to GDP and 31,680 jobs.
  • BP’s direct, indirect and capital expenditures are estimated to
    have supported 1 in every 267 jobs in the UK in 2015, or 0.4% of all employment in the country.
  • BP spent a further £1.2 billion with UK-registered businesses operating overseas.
  • An estimated 0.5% of UK GDP in 2015 was in some way reliant on BP’s activities – whether directly, indirectly, or through BP’s capital expenditure. That is £1 in every £189 of GDP created in the UK during the year.
  • BP paid approximately £1.5 billion in dividends to UK-based shareholders in 2015.

Channels through which BP contributes to the UK economy

Channels through which BP contributes to the UK economy

BP’s impact on the UK’s regional economy

Ten UK industrial sectors receiving the largest amount of BP’s UK operational procurement spend in 2015
£ billion
Source: Oxford economics

Ten UK industrial sectors receiving the largest amount of BP’s UK operational procurement spend in 2015
Employment impact

Employment impact

125,900 British jobs were supported by BP in 2015, with direct UK operations creating £2.7 billion gross value added contribution to UK GDP and employing 17,782 people.

The indirect impact of BP procurement of goods and services and capital expenditure supported an estimated additional 108,117 people in the wider UK economy.

Procurement impact and supplier diversification

BP has relationships with a diverse range of UK suppliers, from architectural and engineering services to water transport. 

BP’s 3,600 UK suppliers of goods and services in 2015 are distributed throughout the UK, receiving a total of £5.2 billion.

Some 24% of them were located in London, 20% in the South East, 14% in Scotland and 10% in the Midlands.

In 2015, BP spent £2.5 billion on capital expenditure in the UK, using around 950 suppliers. Of these, 27% were in Scotland, 17% were in the South East and another 15% were in London.

In addition, £1.2 billion was spent by BP with UK-registered businesses operating abroad.

Procurement impact and supplier diversification

Estimated geographic distribution of BP’s 3,600 UK suppliers of goods and services in 2015

Estimated geographic distribution of BP’s 3,600 UK suppliers of goods and services in 2015

Estimated geographic distribution of BP’s 3,600 UK suppliers of goods and services in 2015

Estimated geographic distribution of BP’s 3,600 UK suppliers of goods and services in 2015

BP’s ongoing social contribution to the UK

Over the past 50 years, BP has demonstrated a consistent commitment to UK communities through our support of schools, arts and culture, sport, community organisations and charities.

UK communities benefited from £2.65 million in 2015 of employee contributions matched by the BP Foundation, and over 34,650 hours were volunteered by UK-based employees.

Find out more about BP in the community.

UK communities benefited from £2.65 million in 2015 of employee contributions

About the report

This page is a short update to complement the original report by Oxford Economics, BP’s impact on the UK economy, September 2015. The update reflects the economic contribution for the calendar year 2015 and can be read alongside the original report for a year-on-year comparison.

Methodology

Find out more about the methodology used in performing this analysis. 

Contacts, links and further information

Press enquiries: bppress@bp.com

Government affairs enquiries: UKGovernmentAffairs@uk.bp.com

Disclaimer

BP disclaims any obligation to update this publication. Neither BP p.l.c., nor any of its subsidiaries, accepts liability for any inaccuracies or omissions or for any direct, indirect, special, consequential or other losses or damages of whatsoever kind in connection to this publication or any information contained in it.

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