BP chief earns £10 million in pay as energy firms are ‘netting millions of pounds in pay’ whilst families struggle

BP chief executive Bernard Looney earned 170 times more than his average employee in 2022 and his pay doubled to £10 million.

BP has netted “millions of pounds in pay” after the company has benefitted from the Vladimir Putin’s war in Ukraine.

Households in the UK saw their average energy bill at almost £4,300 per year which is four times higher than it was before the war in Ukraine started on 24 February 2022.

Looney’s pay package has been described as a “kick in the teeth” to hard working families who are suffering amid the “cost of living crisis.”

BP posted their best ever end of year results as profits doubled to £23.4 billion and a campaigner has said that the government should implement a “proper windfall tax.”

Jonathan Noronha-Gant, senior fossil fuels campaigner at Global Witness, said, “People everywhere struggling to feed their families or warm their homes in the harsh winter months, have every right to be angry that the CEO of a huge energy firm is netting millions of pounds in pay.

“This enormous pay package is a kick in the teeth to all hard-working people being faced with a cost-of-living crisis.

“Nothing could be a starker example of the gross inequality that sits at the very heart of our broken energy system.

“For a rich few to be seeing their already extraordinary wealth bolstered, precisely because bills have been so unaffordable for the majority, is a twisted irony.

“At the very least the governments should be implementing a proper windfall tax on both profits and CEO pay.”