BP injected £1.6 billion into the Scottish economy and supported around 11,000 jobs across the country in 2024, according to new analysis from Oxford Economics. The global energy giant’s operations in Scotland accounted for 0.83% of the nation’s gross value added (GVA)—equivalent to £1 in every £120 of Scotland’s economic output—and supported one in every 270 Scottish jobs.
The majority of BP’s direct impact in Scotland stemmed from its continued investment in the North Sea, generating £1 billion of GVA directly and employing 2,091 people north of the border. Most of these roles are based at BP’s North Sea headquarters in Aberdeen, with an additional 640 staff working in its retail operations.
BP’s supply chain activity in Scotland was also substantial. In 2024, the company spent £690 million with Scottish suppliers, supporting an estimated £550 million in GVA and sustaining 8,700 jobs. Professional services companies, including engineering firms, were the biggest beneficiaries, receiving £290 million of BP’s Scottish supply chain spend. The upstream oil and gas sector followed, securing £110 million, while manufacturing, transport, and IT services also featured prominently.
Doris Reiter, Senior Vice President North Sea at BP, commented:
“2024 marked our 60th anniversary in the North Sea – a basin we helped to pioneer. Oil and gas will be needed as part of our energy system for decades to come, and we are continuing our work to deliver energy safely and reliably through our North Sea portfolio. I’m proud that the work my North Sea team delivers day in day out continues to contribute significantly to the UK economy. I’d like to thank my colleagues, our suppliers and community partners for their energy and efforts, working with us to make this impact across the UK.”
BP’s footprint in Scotland also extends to clean energy development. In 2024, the company made a final investment decision to proceed with the Aberdeen Hydrogen Hub, a joint venture with Aberdeen City Council that will produce green hydrogen powered by a dedicated solar farm. Additionally, BP launched a £10 million, decade-long Urban Forestry Programme in partnership with Future Woodlands Scotland, aimed at increasing green space in Scottish cities as part of the Morven offshore wind project.
Across the UK as a whole, BP supported £11.6 billion in GDP and around 75,000 jobs last year, according to Oxford Economics.
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