Darren Woods’ salary rose by 10% to $1.9m last year while his bonus and share awards surged by 80% compared with the year before. 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 an official company filing, Exxon’s remuneration committee said that under Wood’s leadership the company had “delivered exceptional business results”. Meanwhile, the company’s share price outpaced its industry rivals last year after climbing by 160%.
The chief executive of BP, Bernard Looney, outraged critics after taking home about £10m last year, a 120% increase from the £4.5m he received in 2021. It was called a “kick in the teeth” to households struggling with their energy bills by campaigners at Global Witness.