BP has awarded £1.25 million to a Scottish university to continue its research on energy economics.

Heriot-Watt University will also continue as the partner for the company’s annual energy benchmark reports, with the funding securing a further three years of expert statistical and analytical support.

Energy economists at the university’s Centre for Energy Economics Research and Policy (CEERP) will work with BP’s team to gather, analyse and interpret data from around the globe to compile the reports.

CEERP Director Professor Mark Schaffer said: “The BP Statistical Review and Energy Outlook are complex, fascinating publications to work on.

“All commercial fuels and sources are covered: oil, natural gas, coal, nuclear, hydroelectricity and electricity from renewable resources.”