US oil bosses generally collected huge paychecks last year on the back of high energy prices and record profits, with Exxon Mobil Corp\u2019s chief executive winning a 52 per cent increase.<\/p>\n
The largest U.S. oil company on Thursday disclosed chief executive Darren Woods was paid $35.9m last year.<\/p>\n
Oil company workers did not see the same level of increases with median annual compensation for workers declining at several big energy companies.<\/p>\n
The median pay for an Exxon worker fell nine per cent last year to $171,582 while Chevron\u2019s median worker pay dropped 12 per cent, to $161,488, filings showed.<\/p>\n
The\u00a0two largest US oil majors posted record profits in 2022\u00a0on high energy prices and costs cuts measures including payroll reductions. Exxon posted the most among Western oil majors,\u00a0$56bn.<\/p>\n
Chevron\u2019s\u00a0profit more than doubled in 2022\u00a0to a record $36.5bn.<\/p>\n
Exxon\u2019s chief received the highest percentage increase among peers with Chevron chief executive Michael Wirth receiving a four per cent increase.<\/p>\n
Occidental Petroleum\u2019s chief executive Vicki Hollub\u2019s pay rose 35 per cent while ConocoPhillips chief executive Ryan Lance\u2019s pay fell 16 per cent, all compared to their prior year.<\/p>\n
The median annual pay for Occidental workers rose 19 per cent last year to $187,168 while at Conoco it fell one per cent to $177,533 according to their proxy filings.<\/p>\n
Under a new calculation disclosure required by the SEC on potential gains by executives on unvested stock awards, Woods\u2019 pay was $89.7m in 2022, a securities filing showed.<\/p>\n
The figure provides more transparency on compensation given by companies in equity, according to shareholders advocacy group As We Sow.<\/p>\n
But it is not the best reflection of a compensation as the total value cashed out by executives could only be known when options are exercised or stock are sold, the group says.<\/p>\n
Under the same metric, Woods lost more than $7m in 2020.<\/p>\n
US oil bosses generally collected huge paychecks last year on the back of high energy prices and record profits, with Exxon Mobil Corp\u2019s chief executive winning a 52 per cent increase. The…<\/p>\n","protected":false},"author":1,"featured_media":6634,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[40,46,48,50,57,68,76,77,78,79,80,82,86,87,88,90,95,96,98,99,103,107,109,111,112,114,121,123,137,139,146,148,153,159,174,176,181,182,184,187,196,201,202,203,209,217,221,222,229,231,232,233,239,241,244,246,249,250,251,252,256,262,263,266,268,277,279,280,283,285,288,300],"class_list":["post-6633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil-gas","tag-alleviation","tag-aramco","tag-athens","tag-athensenergydialogues","tag-baroudi","tag-carbon","tag-climate","tag-climate-change","tag-climateaction","tag-climatechange","tag-closure-of-nuclear","tag-co2","tag-cyprus","tag-decarbonising","tag-decarbonization","tag-democracy","tag-disputes","tag-doha","tag-east","tag-eastmed","tag-egypt","tag-embargo","tag-emissions","tag-energy","tag-energy-market","tag-energyindustry","tag-europe","tag-european-fuels","tag-gas","tag-gazprom","tag-greece","tag-greenenergy","tag-hydrocarbons","tag-international","tag-lebanon","tag-liquefied-natural-gas","tag-maritime","tag-maritime-boundaries","tag-maritime-disputes","tag-mediterranean","tag-natural-gas","tag-offshore","tag-oil","tag-oil-and-gas","tag-opec","tag-peace","tag-plants","tag-pollution","tag-poverty","tag-power","tag-putin","tag-qatar","tag-renewable-energy","tag-reserves","tag-rosneft","tag-roudi","tag-russia","tag-russia-in-the-european-energy-sector","tag-russian-gas","tag-russian-sanctions","tag-saudi","tag-solar","tag-solar-power","tag-straddling","tag-sustainability","tag-total","tag-trump","tag-turkey","tag-ukrain","tag-unclos","tag-usa","tag-300"],"_links":{"self":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/6633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6633"}],"version-history":[{"count":0,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/6633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/media\/6634"}],"wp:attachment":[{"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}