Between 2014 and 2018, bp worked with an average of 800 UK suppliers of capital goods and 3,150 UK suppliers of goods and services to generate an average yearly contribution of:
The combined productivity of bp’s employees and supply chain increased by 26% between 2014 and 2018, helping increase bp’s gross value added to the UK economy by 18% over that period.
bp has relationships with a diverse range of UK suppliers, from architectural and engineering services to water transport.
bp’s 2,620 UK suppliers of goods and services in 2018 are distributed throughout the UK, receiving a total of over £4.5 billion.
Some 27% of them were located in London, 21% in the South East, 11% in Scotland and 10% in the Midlands.
In 2018, bp spent almost £1.9 billion on capital goods from around 630 UK suppliers. Of these, 18% were in Scotland, 20% were in the South East and another 20% were in London.
In addition, around £1.4 billion was spent by bp with UK-registered businesses operating abroad.
123,120 British jobs were supported by bp in 2018, with direct UK operations creating £4.6 billion gross value added contribution to UK GDP and employing 15,835 people.
The indirect impact of bp procurement of goods and services and capital expenditure supported an estimated additional 107,285 people in the wider UK economy.
Overall, London, the South East and Scotland were the biggest jobs beneficiaries from bp’s direct and indirect impacts. bp supported employment equivalent to 1% of all employment in London, 0.7% in Scotland, and over 0.4% in the South East.
bp continued to demonstrate a consistent commitment to UK communities through its support for schools, arts and culture, sport, community organizations and charities.
Building on its ground-breaking Enterprising Science educational research programme to understand how and why young people choose to study STEM subjects, bp extended its relationship with the Science Museum Group as the founding partner of its Academy of science engagement across the UK.
2019 marks the 30th anniversary of bp’s support for the BP Portrait Award at the National Portrait Gallery – the most prestigious portrait painting competition in the world.
bp’s UK employees volunteered 22,500 hours and generated over £2 million of contributions to community organizations during 2018.
On average over the period 2014-2018, bp’s UK employees have volunteered 33,965 hours and generated over £2.5 million of contributions each year.
Find out more at bp.com/uk/bpinthecommunity.
This is the fifth anniversary update of the original report by Oxford Economics, BP’s impact on the UK economy, September 2015. This summary reflects the economic contribution for the calendar year 2018 and can be read alongside the previous reports for a year-on-year comparison. It also highlights the consistency of bp’s contribution to the UK economy over the previous five-year period.
Find out more about the methodology used in performing this analysis.
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