Shell plans more cuts to costs and spending but hands CEO bigger bonus

The oil company Shell has revealed plans to hand bigger payouts to its chief executive and shareholders – by pumping more oil and gas and halving its green spending. Europe’s largest oil and gas producer will hand its chief executive, Wael Sawan, a package worth £8.6m for last year, from £7.9m in 2023. The pay hike, labelled “obscene” by green campaigners, was awarded after Sawan scrapped Shell’s green targets in favour of a renewed focus on fossil fuels. Sawan told investors he planned to increase Shell’s oil and gas production by 1% a year until 2030, in contrast with a

Read Full Article