ExxonMobil handed its chief executive a 52% pay increase to $35.9m (£28.7m) for 2022 after the oil company reported its highest ever profits amid Russia’s invasion of Ukraine. The company said the bumper payday was “reflective of record company earnings and stock price performance”. ExxonMobil made $56bn in profits, or $6.3m an hour, last year after the war in Ukraine ignited a surge in global oil and gas prices. The company’s record profit was also the highest reported by any western oil company. In May 2022, the then chancellor, Rishi Sunak, announced an “energy profits levy” against oil company profits to help support households struggling with their energy bills.

Source: The Guardian April 14, 2023 08:16 UTC