06 March 2023 , 19:27
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Fuel poverty campaigners have said it is a “scandal” that the boss of BP could pocket a bonus package of over £10million while British households and businesses struggle to pay sky-high bills.
The oil giant’s annual report is out on Friday and it is believed the payout for chief executive Bernard Looney – who once boasted the firm was like a “cash machine” – could even have been as big as £15.4m.
But reports suggest BP’s pay committee will use its discretion and scale back the size of a long-term bonus.
Others set for big rewards include finance chief Murray Auchincloss, who could pocket at least £5m.
It comes a month after BP revealed annual profits doubled to £23billion due to a surge in wholesale energy prices fuelled by the Ukraine conflict.
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Simon Francis of the End Fuel Poverty Coalition said: “It’s a champagne lifestyle for energy bosses while pensioners, disabled people and families freeze in cold, damp homes.”
And Global Witness fossil fuels campaign leader Alice Harr-ison added: “It’s nothing short of a scandal that the CEO of BP is getting richer while families choose between heating and food.”
British Gas owner Centrica also has its annual report out this month. It will reveal if boss Chris O’Shea got a bonus of up to £1.6m for last year.