Share
Getting your Trinity Audio player ready...
|
The pay package for Shell’s CEO jumped by half last year to nearly $12 million, the fossil fuel giant said Thursday, as oil and gas companies made record profits from skyrocketing energy costs that have driven a cost-of-living crisis.
London-based Shell paid Ben van Beurden a total of $11.5 million in 2022 as annual company profits doubled to an all-time high of $40 billion because Russia’s war in Ukraine sent oil and gas prices soaring.
Van Beurden’s pay includes a $3 million bonus and nearly $6 million worth of stock, according to the company’s annual report.
Van Beurden stepped down at the end of last year and was replaced by Wael Sawan, who will be paid a base salary of $1.7 million and a bonus that’s expected to be bigger than the salary, the report said.
Demands have increased for oil and gas companies raking in huge profits to do more to reduce high energy costs that are hurting consumers and small businesses.
Opposition lawmakers in Britain have called for an expanded tax on the windfall profits of oil and gas firms to provide more help for households struggling to afford expensive utility bills.
RELATED TOPICS:
Thief Uses Sleight of Hand to Swipe $255K Tiffany Ring, Cops Say
7 hours ago
California Reports the First Increase in Groundwater Supplies in 4 Years
7 hours ago
Lawsuit Alleges Decades of Child Sex Abuse at Illinois Juvenile Detention Centers Statewide
7 hours ago
Texas Soldier Arrested in Russia on Theft Charges After Unexpected Detour
8 hours ago
Fresno Detectives Arrest Motorcycle Club Leader on Arson, Gun Charges
8 hours ago
Pulitzer Prizes in Journalism Awarded to The New York Times, The Washington Post, AP and Others
8 hours ago
Hamas Accepts Gaza Cease-Fire; Israel Launches Strikes in Rafah
9 hours ago
Tom Brady’s Netflix Roast Features Lots of Jabs and a Belichick-Kraft Reunion
9 hours ago
CA Limits How Police Respond to Protests. Why Were Bean Bag Shotguns Used at UCLA?
10 hours ago
This Is Why Banana Ball Drew 31,000 for the Series in Fresno