BP has posted record profits for 2022 thanks to higher energy prices. The British giant posted an operating profit of nearly 28 billion dollars (26.5 billion euros). That’s more than double the previous year.
Those results also appeared to favor CEO Bernard Looney, reports ‘The Times’. So he will receive a record premium. BP has not confirmed or denied the size of the premium. “Details of compensation for our director general will be included in the annual report to be published in the first half of March,” said a company spokesperson.
According to The Times, the size of the premium for Looney and other BP executives has been discussed with investors. The conflict with investors will increase political pressure on the group, according to the newspaper. Like other energy giants, they are under pressure at BP to pay more taxes on their extraordinary profits.
Due to high energy prices, inflation in the UK has risen to over 10 per cent. Workers in sectors ranging from railways to education to health care have in recent months demanded higher wages to offset higher living costs.
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