• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

    May 9, 2025

    OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

    May 9, 2025

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Oil CEOs See Massive Bonuses Amid Record Profits
Business

Oil CEOs See Massive Bonuses Amid Record Profits

March 11, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
BRITAIN-ENERGY-OIL-CLIMATE-BP-AGRICULTURE-BUSINESS-ENVIRONMENT
Share
Facebook Twitter LinkedIn Pinterest Email

The pay packages for the chief executives of British oil giants BP and Shell skyrocketed in 2022 after the oil titans posted record profits off the back of high gas prices last year, Reuters reported Friday.

The salary of BP CEO Bernard Looney climbed to roughly £1.3 million, while performance-related bonuses and stock awards climbed to £10.03 million, to a total of £11.33 million in compensation, more than two and a half times the £4.46 million he earned in 2021, the company announced Friday. BP —which lagged behind its American competitors in 2022 despite a record profit of roughly $28 billion — has drawn criticism from activists for cutting its green investments and reinvesting in gas and oil, Reuters reported. (RELATED: Back To Petroleum: BP Is Scaling Back Its Green Investments Amid Disappointing Performance)

Former CEO Ben van Beurden of fellow British oil giant Shell, who stepped down at the end of last year, received a 53% pay bump in 2022, to £9.7 million, Bloomberg reported Thursday. Shell posted a record profit of $40 billion last year, Reuters reported.

President Joe Biden called companies’ profits a “windfall of war” in an October 2022 speech, and proposed aggressive taxes on stock buybacks in his State of the Union, criticizing companies for using ‘outrageous’ profits to benefit shareholders during an energy crisis. These sentiments have been echoed by activists, several of whom have criticized oil companies for profiting at a time when some families are struggling to pay their energy bills, according to CNBC.

“Instead of allowing these huge payouts to end up in the pockets of CEOs, the government must step in with a proper tax on the oil industry and its profits, channel the money into stopping energy waste from homes, and invest in green heating schemes,” Mel Evans, Greenpeace UK’s head of climate, told Reuters Friday.

Bernard Looney, the CEO of @bp_plc, made £10.03 million for 2022 — or around $12 million — according to the company’s annual report, released today. https://t.co/zbxVHDaGZZ pic.twitter.com/ozQcIxJy36

— Carlos Anchondo (@cjanchondo) March 10, 2023

Oil firms in both the U.S. and Europe shattered their earnings records in 2022, after oil prices spiked following Russia’s invasion of Ukraine. Both European and U.S. politicians have criticized oil firms for profiting off of the situation.

See also  REPORT: Lawmakers To Lobby Automaker CEOs To Cut Reliance On China After Blinken Visits Beijing

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Bonuses CEOs Massive Oil profits record
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

‘I’d Rather Put a Gun in My Mouth’ Than Use A.I.

May 23, 2023

Feuding law firms in Facebook antitrust case told to make peace

February 24, 2023

Israeli Woman Learns Her Husband Was Killed by Hamas

October 12, 2023

New Indiana Jones Film Projected To Lose Millions At Box Office

June 29, 2023
Don't Miss

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

Business May 9, 2025

Microsoft has banned employees from using DeepSeek — the viral Chinese chatbot it worries is…

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,112)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,628)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Former PGA Pro Destroys Transgender Golfer in Twitter Feud After Florida Tournament Fail

March 31, 2023

Boeing deliveries fall by half in April due to 737 MAX bracket defect

May 10, 2023

Gavin Newsom: Ron DeSantis ‘Scared’ Of Voters After Florida’s Concealed Carry Law

April 10, 2023
Popular Posts

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.