Total pay for BP's CEO more than doubled to $12 million last year, the energy giant says.
Catch up on the developing stories making headlines.Total pay for BP's CEO more than doubled to $12 million last year, the energy giant said Friday, as soaring energy costs allowed oil and gas companies to rake in record profits while squeezing households and small businesses.
BP said in its annual report that CEO Bernard Looney was paid a total of 10 million pounds in 2022, up from 4.5 million pounds the previous year. Looney's pay package includes a cash bonus of 2.4 million pounds and 6 million pounds in bonus company stock.sent oil and gas prices soaring. Activist groups such as Global Witness and some opposition lawmakers in Britain have called for expandingIt's a “twisted irony” that a wealthy minority got even richer "precisely because bills have been so unaffordable for the majority,” said Jonathan Noronha-Gant, a senior campaigner at Global Witness.
The proposed tax is similar to a levy on bankers' bonuses that the U.K. government imposed in 2009-10 amid the fallout of the global financial crisis.
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