Quick Glance: Exxon CEO salary jumped 52% in 2022, the most among oil rivals.
- Workers in the oil industry did not enjoy the same degree of raises, with median annual salary dropping at several major energy corporations.
- The two largest US oil companies reported record profits in 2022, owing to high energy prices and cost-cutting initiatives such as layoffs.
- According to proxy filings, Occidental's median annual salary increased 19% last year to $187,168, while Conoco's dipped 1% to $177,533.
- According to shareholder advocacy group As We Sow, the figure provides more transparency on stock remuneration granted by firms.
Shell reported nearly $40 billion in profits last year, the highest in the company’s 115-year history. https://trib.al/0baQTP3
Quick Glance: BP profits more than double to £23 billion as rising oil and gas prices boost the company's bottom line.
- BP is the latest energy behemoth to report spectacular earnings, reporting full-year underlying profits of £23 billion ($27.7 billion), capitalising on soaring oil and gas prices fueled by Russia's invasion of Ukraine.
- Its headline results compare favourably with those of its competitors, including Shell, which reported full-year profits of £32,2 billion, including £7.9 billion in the fourth quarter.
- Under Chancellor Jeremy Hunt, the tax has already been toughened, with BP paying £880 million ($1.06 billion) towards the Energy Profits Levy in the fourth quarter and £1.52 billion ($1.83 billion) for the full year.
Quick Glance: ExxonMobil sues the EU in an attempt to stop a new windfall tax.
- According to him, Exxon will consider the tax when making future multibillion-euro investments in Europe's energy supply and transition.
- The projects are assisting it in delivering more energy goods at a time when Europe is struggling to reduce its imports from Russia, according to the firm.
- "Thoughtful policy is critical," according to the company.
- N has also warned that taxing oil output would simply serve to restrict energy supply by discouraging business investment.
Quick Glance: Price gouging at the pump results in a 235% profit increase for Big Oil: Analysis
- It's time to stand up to Big Oil, whether that means taxing their record profits or bringing them to court to make polluters pay for climate damage they intentionally caused."
- "we need to crack down on Big Oil." stated Mark Pocan (D-Wisconsin) of the fossil fuel companies' quarterly profits.
- Senator Bernie Sanders agreed, writing on Twitter, "it's time for a windfall profits tax."
- The fossil fuel business has not only used record earnings to enrich shareholders, but it has also poured money into lobbying lawmakers on Capitol Hill.
In the wake of the war in Ukraine and curbed gas supplies from Russia, some energy companies have been able to post big profits ... Show more
Energy stocks once again outperformed the rest of the market as oil and gas prices remain elevated due to inflation; despite ongoing risks to tight global ... Show more https://www.forbes.com/sites/sergeiklebnikov/2022/06/21/energy-stocks-jump-as-oil-surges-again-prices-will-remain-elevated-through-summer/?utm_source=FBPAGE&utm_medium=social&utm_campaign=forbes
About four and a half weeks after the Russian invasion of Ukraine, delegations from Ukraine and Russia are meeting for a new round of negotiations in ... Show more https://trib.al/TCNRuLH
Quick Glance: Kiev rejects Russia's ultimatum on Mariupol
- This was already communicated to the Russian side.
- Instead, it asked that the Russian military establish a humanitarian corridor to the besieged Azov port city.
- Russia had requested Ukrainian forces in Mariupol on Sunday to lay down their arms and depart the city on Monday morning.
- As a result, Russia recommended to Ukraine that all Ukrainian armed troops depart the city "without weapons and ammunition along the route agreed with Ukraine."