The economic impact of bp in the UK

This report, produced in collaboration with bp, demonstrates the impact that bp had on the UK national and regional economies in 2024

We quantify the contribution made through its own operations, as well as the economic activity it supported through its operational and capital spending. These impacts are presented in terms of the gross value added contribution to GDP, the employment, and the tax revenue that bp supported across the country

Oxford Economics’ analysis shows that bp made a significant contribution to the UK economy. We estimate that in 2024, bp supported £11.6 billion in gross value added contribution to UK GDP, which was equivalent to 0.41% of national GDP, or £1 in every £250 of UK GDP in that year. Through its activities and spending, bp also sustained a total of 75,000 jobs in the UK, making up 0.22% of national employment, and stimulated £4.4 billion in tax payments to the UK government.

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The experts behind the research

Tim Porteous

Senior Economist

Tim Porteous

Senior Economist

Tim is a senior economist in the Economic Impact Consulting team. During his time here, Tim has worked on a number of economic impact projects focusing on the technology, aviation, and creative sectors. This includes studies for IFPI, SAP, Huawei, Motability, and National Grid.

Outside of his time at Oxford Economics, Tim was previously a Senior Consultant within the Economics, Technology, and Innovation team at RSM UK, where he undertook projects for the UK government around 5G and the semiconductor manufacturing sector. Tim also has experience working on technology and data-focused projects within the banking sector, and holds an MSc in Economics (Distinction) from the Queen’s University Belfast.
Rob Harbron

Associate Director, Economic Impact

Rob Harbron

Associate Director, Economic Impact

Rob is an Associate Director in the Applied Economic Consulting team within the Economic Impact department.

Since joining Oxford Economics in 2018, he has run many high-profile economic impact studies in the aerospace, defence and transport sectors, including for clients such as BAE Systems, Leonardo UK and the European Express Association.
He has also run environmental impact studies, such as looking at the socioeconomic contribution of the European Commission's Clean Sky 2 aviation R&D programme, and the environmental impact of the German fashion industry.

Rob has previously worked for the economics advisory team of EY, for the macroeconomics team at the Centre of Economics and Business Research, and for marketing analytics company Gain Theory. Rob has an MSc in economics and econometrics from the University of Bristol.
Jordan Mencattelli

Economist, Economic Footprint & Sustainability

Jordan Mencattelli

Economist, Economic Footprint & Sustainability