BP CEO Bernard Looney’s 2022 bonus doubled to $12 million
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British oil and gas company BP CEO Bernard Looney’s total annual compensation increased by 120% last year to £10m ($12m), the corporation said in a report. (.pdf). Of this amount, £1.4 million ($1.7 million) was salary, £2.4 million ($2.9 million) was a bonus, and the remaining more than £6 million ($7.2 million) was additional compensation in company shares.
February BP reported for 2022: it finished it with a record profit of $27.7 billion. Last year, most oil and gas companies managed to significantly increase revenue and profit due to the increase in world oil prices. On Thursday, Shell also said that the remuneration of its former CEO Ben van Beurden (who left this post on January 1) in 2022 increased by one and a half times, to £9.7 million ($11.6 million).
In the UK, energy companies have been criticized for windfall profits as households and businesses face rising electricity prices. In February The Sunday Times wrote that BP also faced criticism from shareholders who do not approve of too high remuneration to top managers of the company.
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