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BP CEO’s Pay Doubled in 2022 to £10M After Record Profit

Bernard Looney

Bernard Looney

Photographer: F. Carter Smith/Bloomberg

BP Plc’s Chief Executive Officer Bernard Looney was paid £10 million ($12 million) in 2022, more than double the amount in the previous year as the company posted a record profit on surging oil and gas prices. 

Looney’s total pay slightly exceeded that of his closest peer, outgoing Shell Plc CEO Ben van Beurden. On top of the BP boss’s salary of £1.4 million, he received an annual bonus of £2.4 million and long-term share award with a value of £6 million, which was below the maximum possible amount in both cases.