Unite press release

For immediate release: Tuesday 1 November 2022

Workers and communities face calamity while BP feasts on unfettered profits

Labour movement must make the argument for public ownership

BP has reported enormous profits of £7.1 billion for July to September, more than double the profit over the same three months last year.

The cumulative takings for the seven biggest private sector oil drillers during the first nine months of 2022 could hit £150bn, according to analysts.

Unite general secretary Sharon Graham said: “Workers and communities face financial calamity this winter while energy giants like BP are making billions in unfettered profits. It’s clear our economy is broken. 

“Unite’s independent profiteering report has established that it is corporate greed and profiteering which is driving inflation not workers’ wages.

“It’s time to stop tinkering at the edges. The Labour movement must seize the moment, take control of the debate and make the undeniable call to bring the energy giants into public ownership.”

ENDS

Contact: Ciaran Naidoo on 07768 931 315 

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Notes to editors

Unite is the UK and Ireland’s leading union fighting to protect and advance jobs, pay and conditions for members