BP CEO Bernard Looney's 2022 pay packet more than doubled to around $12 million on the back of bumper profits amid spiralling energy prices, while BP's emissions were broadly unchanged, its annual report showed on Friday.
"Instead of allowing these huge payouts to end up in the pockets of CEOs, the government must step in with a proper tax on the oil industry and its profits, channel the money into stopping energy waste from homes, and invest in green heating schemes," said Greenpeace UK’s head of climate Mel Evans.
BP's shares were down around 2% at 547 pence at 1042 GMT compared with a 1.2% drop for an index of European oil and gas firmsBP's emissions in 2022 were broadly unchanged from the previous year at around 340 million tonnes of CO2 equivalent, according to its annual report and Reuters calculations. Unlike Shell, BP in its figures excludes emissions from fuels it sells that are derived from crude oil it does not produce.
BP has already achieved its 2025 aim of reducing its well-to-forecourt emissions by 10-15% against a 2019 baseline. By 2030 it aims to cut these by 20-30% and to achieve net zero emissions by 2050. BP said it would stick to these targets despite increasing its hydrocarbon production through to 2025. It plans to reduce its oil and gas output by a quarter by 2030.
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