£1.5m (€2.4m) for Shell chairman

Shell's chairman Philip Watts picked up more than £1.5 m (€2.4m) in pay and share options last year.

He received £607,398 (€990,000) in salaries and fees, up 22% on 2000, when he was managing director.

Performance-related pay doubled to £455,000, (€742,000) bringing the overall figure to £1.08m (€1.7m), an increase of 46%.

A further £508,000 (€828,000) was added from share options exercised in mid-December.

Mr Watts is left in the shade by BP's chief executive Lord Browne, who received pay, bonuses and expenses totalling £3m(€4.8m) in 2001 - an increase of 58% over the previous year.

Shell announced reduced profits in February after being hit by lower crude oil prices. But operating profits for 2001 still came in at £14.29 bn (€23.3bn), a performance Mr Watts described at the time as "very strong".

Details of Mr Watts's pay package are contained in Shell's annual report, which also provides details of its progress in meeting environmental and safety standards.

The Anglo-Dutch oil firm says it has cut its greenhouse gas emissions by 10% relative to 1990; and achieved its best year for safety after the number of incidents fell by a third in the last five years.

The report adds that Shell continues to make progress towards diversity targets, including having women in one-fifth of senior executive roles by 2008.

Mr Watts said: "The Shell Report is one of the most visible demonstrations of our ongoing commitment to contribute to sustainable development."